Georgia has been identified as the most expensive state in the nation for car owners, at $4,233 annually for the costs of gasoline, insurance, repairs, taxes and fees, in a recent Bankrate.com report.
According to Bankrate, “Georgia drivers spend a lot of time in their cars thanks in part to Atlanta’s sprawling communities and a lack of public transportation. The state has the 10th-highest vehicle miles traveled per capita in the country, according to the Bureau of Transportation Statistics.” Long commutes can drive up the costs of gasoline, repairs, and auto insurance.
The following tips can help you keep your auto insurance premiums in check:
1. Get a quote from your agent before buying a car
Auto insurance premiums are based in part on the price of the car, the cost to repair it, its overall safety record and the likelihood of theft, so it is worth taking these factors into consideration before making a decision about which car to buy.
2. Increase your deductible
A deductible is the amount you pay before your insurance policy kicks in. By requesting a higher deductible on comprehensive or collision coverage, you can lower your premium costs substantially. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.
3. Reduce coverage on older cars
Consider dropping the optional comprehensive or collision on older cars. If the market value of your car is less than 10 times the auto insurance premium you are paying, purchasing collision coverage may not be cost-effective.
4. Ask about all available insurance discounts
Insurance providers offer a wide variety of discounts—here are some you can ask about:
- Multiple policies with the same company
- College students living away from home
- Defensive driving courses
- Drivers education courses
- Low annual mileage
- Long-time customer
- More than one car
- No accidents in three years
- No moving violations in three years
- Student drivers with good grades
Ask the professionals at Allen & Furr how you can save money on your auto insurance. We offer free, comparative quotes on auto insurance from multiple insurance carriers so you can get the best possible rate.
Resources: Bankrate.com, Insurance Information Institute