Trying to find cheap auto insurance is tough enough, and finding out which insurers offer the cheapest auto insurance rates for used cars will take a little more work.
Every auto insurer has their own guidelines to determine premium rates, so we’ll go over the most competitive auto insurance companies in Georgia. It’s a good idea to know that Atlanta auto insurance rates are calculated based on many things which can significantly increase or decrease the policy premium. This is why consumers need to take the time to compare lots of rates when trying to find the most budget-friendly car insurance quotes for used cars. Prices are determined by many different factors and change frequently, so the most economical option the last time you shopped your coverage around may now be one of the higher cost companies.
Find Cheaper Auto Insurance for Used Cars
Auto-Owners offers some of the cheapest car insurance rates in Atlanta at around $864 annually. The Hartford, USAA, Central Mutual, and MetLife also make the cut as some of the most economical Atlanta, GA auto insurance companies.
As shown in the rates above, if you currently have coverage with The Hartford and switched to Auto-Owners, you might see an annual premium reduction of about $22. Customers with USAA could save as much as $134 a year, and Central Mutual policyholders might cut rates by $341 a year.
Be aware that those policy rates are averaged for all types of insureds and vehicles and and are not figured with a vehicle location for used cars. So the car insurance company that fits you best may not even be in the top 20 companies shown above. That illustrates why you need to quote rates from many companies using your own specific driver information and vehicle.
The vehicle model you are seeking coverage for is one of the largest factors when shopping for low-cost insurance for used cars. Vehicles with lower performance, good crash test ratings, or a low likelihood of liability claims will cost less to insure than higher performance models.
The list below outlines coverage rates for a number of the cheapest automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,523 |
| Honda CR-V EX 2WD | $1,533 |
| Toyota Tacoma 4WD | $1,558 |
| Ford Edge SEL AWD | $1,614 |
| Honda Odyssey EX W/Rear Entertainment | $1,622 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,667 |
| Ford Explorer Limited AWD | $1,677 |
| Toyota Prius | $1,691 |
| Kia Optima LX | $1,765 |
| Jeep Grand Cherokee Limited 2WD | $1,768 |
| Toyota RAV4 Limited 4WD | $1,802 |
| Ford Focus S 4-Dr Sedan | $1,813 |
| Volkswagen Jetta 2.0T Station Wagon | $1,824 |
| Nissan Altima 2.5 4-Dr Sedan | $1,855 |
| Chevrolet Malibu LS | $1,864 |
| Ford Fusion S 4-Dr Sedan | $1,855 |
| Chevrolet Equinox LS AWD | $1,863 |
| Compare Rates Now Go | |
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rate quotes do not factor in vehicle garaging location which can change premiums significantly.
Based upon the rates shown, you can figure that models like the Ford Escape, Honda CR-V, and Toyota Tacoma are most likely going to be some of the less-costly vehicles to insure for pre-owned vehicles.
Discounts on Atlanta car insurance rates
Auto insurance companies that sell policies for used cars may also give you rate discounts that can lower rates by 35% or more if you meet certain criteria. Popular auto insurance companies and their possible discounts are:
- GEICO offers discounts for membership and employees, multi-policy, five-year accident-free, air bags, anti-lock brakes, and emergency military deployment.
- MetLife offers discounts including accident-free, multi-policy, good student, good driver, claim-free, defensive driver
- Progressive may include discounts for online quote discount, online signing, multi-policy, good student, and multi-vehicle.
- Travelers has discounts for multi-policy, multi-car, continuous insurance, home ownership, hybrid/electric vehicle, save driver, and payment discounts.
- SAFECO has savings for teen safe driver, anti-lock brakes, teen safety rewards, anti-theft, bundle discounts, and homeowner.
- AAA policyholders can earn discounts including good driver, pay-in-full, multi-car, AAA membership discount, and anti-theft.
The chart below illustrates the difference between premium costs with and without discounts being applied to the rates. The prices are based on a female driver, no violations or accidents, Georgia state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple policy, vehicle safety, homeowner, passive restraint, claim-free, and marriage discounts applied. With discounts applied, theaverage yearly reduction on auto insurance for used cars is 28% or $474.
Should you buy full coverage?
Paying a lower price for auto insurance is important to most people, and one of the best ways to find cheaper insurance for used cars is to not buy full coverage. The example below shows the difference between auto insurance rates with full physical damage coverage compared to only buying liability only. The rate quotes are based on no violations or accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.
If averaged for all ages, comprehensive and collision coverage on your policy costs an additional $2,028 per year more than buying just liability insurance. That is a large expense and it proposes the question if buying full coverage is worth the money. There is no exact formula to eliminate physical damage insurance, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your vehicle’s replacement value is $8,500 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $7,500 after paying your policy deductible. If you are paying more than $750 a year for your policy with full coverage, then it might be time to buy liability only.
There are some conditions where only buying liability is not recommended. If you haven’t paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
How to find economical car insurance for used cars
Here are some thrifty suggestions that can help drivers quote lower-cost coverage.
- Staying accident-free helps keep rates low
- Pay cheaper rates with good credit scores
- Raise physical damage deductibles
- Buy vehicles with good safety ratings
- Keep your driving record clean
- Comparison shop frequently
The last idea is incredibly crucial, as was pointed out in the article above. Insurance prices can be changed at any time, so don’t be tentative to buy from a new company if a lower price can be found. Having brand loyalty is commendable, but it’s not recommended if your bullheadedness ends up costing you a small fortune year after year. Spend a few minutes and compare rates to find cheaper insurance for used cars in Atlanta.