Wouldn't it be so easy if you could know instantly the company that has the cheapest rates for college students? It's not that easy, however, as there are a whole slew of unknown factors such as if you have maintained coverage continuously, the area where you live, and whether or not you own a home. The content below covers the best ways to compare rates and should give you a jump start in finding the best auto insurance in Georgia.
For students in college, one of the largest things that aid in calculating the amount you pay each year for auto insurance is where you call home. More densely populated places will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The information below ranks the highest-priced areas in Georgia for college students in which to buy car insurance. Atlanta ranks #2 with a yearly premium of $1,377 for car insurance, which is approximately $115 each month.
|Rank||City||Premium Per Year|
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Annual rates are approximated as the specific area where the vehicle is garaged can decrease or increase auto insurance rates significantly.
Figuring out which companies have the best car insurance rates for college students will take a tad more effort in order to find the best policy. Every insurance provider has their own process to set policy rates, so we will examine the most affordable car insurance companies in Atlanta.
Lowest Insurance Price Quotes for College Students
|Rank||Company||Cost Per Year|
|6||Georgia Farm Bureau||$1,260|
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Auto-Owners quotes some of the most affordable car insurance rates in Atlanta at around $864 each year. The Hartford, USAA, Central Mutual, and MetLife would also make the list of some of the cheapest Atlanta, GA insurance companies.
As shown in the table above, if you are a customer of Central Mutual and switched to Auto-Owners, you might see a yearly savings of approximately $305. Georgia drivers with MetLife could save as much as $362 a year, and Georgia Farm Bureau insureds might reduce rates by $396 a year.
To see how much you can save, click here to get a free quote or quote prices from the following companies.
These premiums are averaged for all insureds and vehicles and do not take into consideration an exact location for college students. So the insurer that is best suited for you may not even be in the top 20 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
The make and model of vehicle that needs insurance is a large consideration when comparing quotes for economical coverage for college students. Vehicles with lots of speed or power, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than more economical and safe models. The next table ranks auto insurance costs for the cheapest automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,455|
|Ford F-150 XL Regular Cab 2WD||$3,538|
|Hyundai Elantra SE Touring Station Wagon||$3,765|
|Ford Escape Limited 4WD||$3,770|
|Honda Odyssey LX||$3,793|
|Ford Explorer XLT 4WD||$3,846|
|Jeep Wrangler Sahara 4WD 2-Dr||$3,853|
|Volkswagen Jetta SE 2.5 Station Wagon||$4,075|
|Ford Fusion S 4-Dr Sedan||$4,103|
|Jeep Grand Cherokee Laredo 4WD||$4,108|
|Toyota RAV4 4WD||$4,103|
|Chevrolet Malibu LS||$4,109|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$4,155|
|Dodge Grand Caravan SXT||$4,164|
|Ford Focus SES 4-Dr Sedan||$4,309|
|Chevrolet Impala LTZ||$4,361|
|Toyota Camry XLE||$4,370|
|Ford Edge Limited AWD||$4,361|
|Kia Optima LX||$4,398|
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Cost estimates assume single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in specific Atlanta, GA garaging location which can affect prices substantially.
Looking at the rates, we can presume that cars like the Honda CR-V, Ford F-150, Hyundai Elantra, Ford Escape, and Honda Odyssey are the most economical vehicles to insure for students in college. The cost of auto insurance will be higher anyway because of the fact that there is more risk for college students, but generally speaking those models will most likely have the lowest prices possible.
The chart below illustrates how choosing a deductible can impact annual premium costs when getting quotes for cheap insurance for college students. The information is based on a married female driver, comp and collision included, and no discounts are factored in.
The chart above illustrates that a 40-year-old driver could cut expenses by $268 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $406 by using a $1,000 deductible. Youthful drivers, like the age 20 example, could reduce their rates up to $666 every year just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is a good idea to have enough in a savings account to satisfy the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Georgia car insurance companies ranked
Choosing the top insurance company can be a challenge considering how many companies there are in Atlanta. The ranking information in the next section could help you select which coverage providers you want to consider purchasing from.
The ratings below are only made up of companies who write in the majority of U.S. states, so smaller companies that only insure vehicles in Georgia are not taken into consideration for the list. To check rates from the insurers below and more, simply click here.
Top 10 Major Auto Insurance Providers in Atlanta Ranked by A.M. Best Rating
- Travelers - A++
- USAA - A++
- GEICO - A++
- State Farm - A++
- Titan Insurance - A+
- Esurance - A+
- Progressive - A+
- The Hartford - A+
- Allstate - A+
- Nationwide - A+
Top 10 Major Auto Insurance Providers in Atlanta Ranked by Customer Service
- Mercury Insurance
- AAA Insurance
- Safeco Insurance
- State Farm
- The Hartford
- The General
Rate difference between full and liability-only coverage
Paying a lower price for car insurance should be important to most vehicle owners, and one great way to buy cheap insurance for college students is to not buy comprehensive and collision coverage. The example below shows the difference between yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are factored in.
Averaged for all age groups, physical damage coverage on your policy costs an extra $2,199 per year over liability only. A very common question is if buying full coverage is a good investment. There isn't a written rule to eliminate full coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let's say your vehicle's settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after you pay the deductible. If you are paying more than $700 annually for physical damage coverage, then it's probably a good time to buy liability coverage only.
A good deal can quickly turn bad
Atlanta, GA car insurance rates are determined by lots of factors which can significantly increase or decrease the cost of your policy. Simply having a birthday, having a teenage driver, or having a fender bender may prompt premium changes that may make certain companies cheaper than others.
Also, insurance companies file new Georgia car insurance rates every year in order to maintain liquidity for claims. Larger than normal claims may result in higher rates, while profitable underwriting can cause cheaper Atlanta car insurance rates.
For example, the data below shows a variety of companies that have the cheapest car insurance in Atlanta, GA for a 45-year-old male driver with no accidents, a clean driving record, and good financial standing. When quoting prices based on his personal risk profile, Auto-Owners offers the best car insurance rates in Atlanta at $1,114 per year. This is $415 less than the average premium paid by Georgia drivers of $1,529. The Hartford, USAA, Central Mutual, and MetLife are the remaining cheapest Atlanta, GA auto insurance companies.
The example below compares rates after we give the driver from the first set of rates a chargeable claim, a lower credit rating, and a couple of points charged on his driving record. Because each company uses a different method to determining premium rates, getting updated rate quotes most likely will result in a slightly different list of the cheapest car insurance companies in Atlanta as shown below.
The Hartford now has the best auto insurance rate in Atlanta with Georgia Farm Bureau, Safeco, USAA, and Mercury now rounding out the top five. This example proves why it is critical to perform a complete rate comparison when trying to find cheap auto insurance quotes for college students.
Auto insurance prices can be altered by many different factors and can decrease or increase without notice, so the best company the last time you shopped your coverage around may now be quite expensive.