Cheap Georgia Low-Income Car Insurance for Families and Individuals

Georgia does not offer a low-income car insurance program. MoneyGeek compiled a list of cheap car insurance companies in Georgia. GEICO offers the cheapest car insurance to low-income families and individuals in Georgia.

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Last Updated: 4/19/2022
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Your income level is not considered to calculate your car insurance rates in Georgia or any other state. Adding a teen to your policy, your age and the amount of coverage you purchase can affect your auto insurance prices. MoneyGeek determined the cost of low-income car insurance in Georgia for individuals and families depending on their credit scores.

Is There Car Insurance for Low-Income Families and Individuals in Georgia?

There is no car insurance program in Georgia to assist low-income families and individuals. Although insurance is required in all states, some drivers may choose not to purchase it due to the high price. Uninsured motorists make up 12.4% of all drivers in Georgia, which is fairly significant.

If you're on a low budget, a state minimum coverage policy is your best choice. Pay-per-mile insurance can also be an economical option for low-income drivers who drive infrequently.

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Does Georgia Have a Government Program to Support Low-Income Drivers with Insurance?

There is no government car insurance program in Georgia for low-income drivers. The most cost-effective insurance is obtained by shopping about and comparing quotes from several insurers. If you're a low-income driver in Georgia trying to save money on your auto insurance, MoneyGeek has done the research for you.

The Cheapest Georgia Car Insurance Companies for Low-Income Drivers

In Georgia, your age and credit score are used to calculate your car insurance rates but not your income.

An insurance policy that only meets state minimum requirements may cost less, but it also offers the least protection. GEICO, State Farm and Country Financial are the insurance companies that offer the most affordable coverage for low-income drivers in Georgia. MoneyGeek also evaluated the state’s cheapest insurance for low-income families and people of all age groups.

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The Cheapest Georgia Car Insurance Companies for Low-Income Families

Your credit score, rather than your income, has an impact on the cost of your auto insurance. MoneyGeek's sample single parent with a poor credit score pays $2,060 more in insurance premiums per year in Georgia than their counterparts with a good credit score. The car insurance cost was $2,749 more per year for families with a single teen compared to families with good credit.

On average, families with a teen child and poor credit scores will find the following two companies to be the most affordable in Georgia:

  • GEICO: $5,050 per year
  • Country Financial: $5,922 per year

For retired or current military members in Georgia, USAA may be a viable alternative. USAA is the state's overall cheapest auto insurance provider, with an annual average quote of $3,668 for a family with a teen driver and a bad credit score.

For single parents with bad credit, the following two companies in Georgia are the most affordable, on average:

  • GEICO: $3,873 per year
  • State Farm: $4,186 per year

USAA offers the cheapest coverage for a single parent, which costs an average of $2,647 per year. However, since their insurance policies are exclusively sold to retired and current military people and their families, USAA was kept off our list.

Remember that having a low income does not inevitably imply having poor credit. Using the table below, you can find the cheapest car insurance for low-income families in Georgia.

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Single parent w/ a kid

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  • Company
    Annual Rates
  • USAA
    $1,593
  • GEICO
    $2,331
  • State Farm
    $2,519
  • Country Financial
    $2,572
  • Allstate
    $2,956
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The Cheapest Georgia Car Insurance Companies for Low-Income Individuals

For a 40-year-old low-income driver with a bad credit score, car insurance costs in Georgia can be $633 a year more expensive than for a driver with a good credit score.

On average, two of the most affordable car insurance companies in Georgia for low-income individuals with poor credit are:

  • GEICO: $1,236 per year
  • State Farm: $1,335 per year

USAA is Georgia's cheapest overall insurance for 40-year old drivers with bad credit, costing an average of $844 per year. Unfortunately, USAA did not make our list because they are only available to military personnel and their families.

Having a low income does not always imply having a poor credit score. Your credit score will likely influence the cost of your insurance. On average, the cheapest companies for low-income drivers with good credit are:

  • GEICO: $744 per year
  • State Farm: $804 per year

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $508
  • GEICO
    $744
  • State Farm
    $804
  • Country Financial
    $820
  • Allstate
    $867

The Cheapest Georgia Car Insurance Companies for Low-Income Students

Due to their inexperience, young student drivers in Georgia pay higher car insurance rates. By default, students are regarded as low-income individuals. Car insurance can be a substantial percentage of a family's budget even if students' low income does not result in increased premiums.

On average, the two cheapest car insurance for low-income students in Georgia with bad credit are from:

  • GEICO: $3,233 per year
  • State Farm: $3,494 per year

Although USAA has the lowest car insurance premiums in the state, at an average of $2,209 per year, they were left out of our rankings since they only offer coverage to military personnel.

You might have a good credit score even if your income is low. For young drivers with good credit, the cheapest companies on average include:

  • GEICO: $1,946 per year
  • State Farm: $2,103 per year

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $1,330
  • GEICO
    $1,946
  • State Farm
    $2,103
  • Country Financial
    $2,146
  • Allstate
    $2,267

The Cheapest Georgia Car Insurance Companies for Low-Income Seniors

You'll pay a little more for auto insurance if you're a senior in Georgia. Additionally, senior drivers with poor credit pay extra for car insurance. In Georgia, the difference in insurance premiums between those with a poor credit score and those with a good credit score is approximately $702 annually for a 70-year-old driver.

On average, car insurance for low-income seniors in Georgia with poor credit ratings are the cheapest from:

  • GEICO: $1,209 per year
  • State Farm: $1,314 per year

If you are a senior driver in Georgia with poor credit, USAA's car insurance costs an average of $1,034 per year, which is the lowest in the state. However, USAA was excluded since its auto insurance is exclusively offered to military families.

Having a low income does not always indicate having a low credit score. A strong credit score has a substantial impact on insurance costs. On average, the cheapest insurers for low-income seniors with good credit are:

  • GEICO: $728 per year
  • State Farm: $791 per year

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $622
  • GEICO
    $728
  • State Farm
    $791
  • Country Financial
    $800
  • Allstate
    $966

Does Income Affect Car Insurance Rates in Georgia?

In most cases, insurance companies do not consider your income when evaluating your car insurance premiums. Your rates may, however, be influenced by factors related to your income.

For example, younger drivers face higher insurance costs due to their estimated risk of an accident. They may also earn less since they are still in the early phases of their careers. People with lower income tend to file more claims because they cannot afford to pay for repairs themselves. Drivers with a claim history pay a higher rate.

MoneyGeek examined the correlation between low-income and insurance premiums in Georgia. The following are the most important factors that affect insurance rates in the state:

  • Adding a teen driver to the policy.
  • Age of the driver.
  • Coverage levels.

Aside from these factors, your car model and credit score also have an impact on your insurance premiums.

  • Factor
    How it Affects Your Rates
  • Adding a Teen Driver

    Adding a teen driver is the biggest factor in Alaska, making rates 3.6x as expensive.

  • Age of Driver

    Age of adult drivers is important too. In Alaska, rates can vary by 2.4x for young drivers versus middle-aged drivers.

  • Coverage Levels

    How much coverage you buy in Alaska matters a lot. Buying a full coverage policy will be 2.4x more expensive than the state minimum.

  • Car Model

    Depending on the model of your car, insurance could be twice as expensive.

  • Credit Score

    A driver with a poor credit score may pay 1.7x more than one with an excellent score.

Frequently Asked Questions About Low-Income Car Insurance in Georgia

Low-income car insurance can be a bit confusing at first. When it comes to Georgia's low-income auto insurance, MoneyGeek answers the most common questions people have.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Georgia using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple each 40 years old or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Georgia.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.