When purchasing a car, one of the factors usually not considered is the insurance needed and the cost of that insurance. This can be a tedious and annoying to even the seasoned driver. Georgia is not immune to these feelings. What is the cost? What coverage do I need? And the most vital question; what is required by law? It is crucial to answer these questions before purchasing any insurance.
One state is different to the next regarding insurance. This makes shopping for insurance even more frustrating. Luckily the burden has been eased over the years by getting quotes on the internet. Many sites will automatically advise you of your minimum requirements and how to get Georgia car insurance.
What is car insurance?
Auto insurance defends you financially if you have an accident. The company agrees to accept the burden to compensate you or another person for damage as outlined in your policy. All states have a minimum insurance requirement you must purchase. What they will pay for is classified under two types of insurance, liability and full coverage. Liability covers you legally for bodily injury or damage to property.
Full coverage will umbrella over the liability to also protect you from vandalism and theft. Collision is a separate policy to protect your car when struck by another vehicle or. A lender may require full coverage and collision insurance.
Do I have to buy insurance?
Yes. No question. The state of Georgia mandates you to purchase insurance. Georgia does not consider an insurance card as proof of insurance. All law enforcement can within minutes verify if your Georgia car insurance is current. It is a state law and heavily enforced. Do you really want to risk not having insurance? Any accident you have while uninsured will result in you paying out of your own money.
That can mean taking out a loan, selling items and going as far as selling your home if the accident was that extreme. Just the thought of this being a prospect should be enough to prompt you want to spend a little each month for peace of mind. Insurance should be treated as you would treat a retirement fund; an investment. You are investing a small amount of your money to be covered when you need it.
What do I have to buy?
Some of that depends on the car. If you have a beat up 1989 Ford F150 truck that is not special, you may want to purchase just liability. If you have a collectible 1965 Chevy Nova II, you will probably want to put the money out for a full coverage plus collision policy as these cars are hard to find and repair, whereas the Ford is much more common and easy to repair.
Auto insurers in Georgia require a 25/50/25 liability policy. This is interpreted to be $25,000 of insurance for one bodily injury, $50,000 for all injuries caused by an accident and $25,000 for property that was damaged in the accident. It really is your preference of what you want covered and what you are willing to pay.
What is underinsured?
This is when you have purchased insurance but it was inadequate to cover the accident you had. Remember the minimum insurance for Georgia is 25/50/25. The middle number is for all injuries in an accident. If you and another person are in your car and one in the other that is three persons medical bills needing paid.
If the total of those medical bills are more than $50,000, you will pay the rest out pocket. Of course you cannot be expected to purchase enough insurance to cover a bus but remember most vehicles are designed to carry up to six people.
How much does insurance cost?
A great tool for shopping for insurance is the internet. Many sites now will not only give you their quote but the quote of other companies for the same coverage. Of course the frugal shopper will continue to comparison shop until satisfied. Many factors are priced in your policy. Just some are your credit, motor size, two or four door, mileage to work, tickets and others. The average yearly rate for Georgia auto insurance is $1,309.75. Of course this all depends on many of the above factors and your personal choice.
Car insurance does not have to be an unpleasant task. Remember that insurance is mandatory and flexible to your needs and desires.