Georgia Could Be Raising Auto Insurance Rates

Georgia car insurance rates could be on the rise if a new bill passes that is currently on the governor’s desk. Governor Sony Perdue is looking at a car insurance bill that would make it easier for the state’s auto insurance companies to raise their rates when they wanted to.

Insurance Commissioner John Oxendine says that the bill should not be approved as it will mean up to a 30% increase in auto insurance rates should it be approved – and that is on the low side. One auto insurance company is looking to increase rates as much as 63% for some drivers, and on the low side there is one that wants to increase them 17%.

And there are those that are somewhere in the middle, but any way you look at it – there will be increases in car insurance for pretty much everyone if the bill passes. Residents say that between the cost of gasoline and this new auto insurance bill, they will not be able to have a car nevertheless worry about driving it.

If the insurance commissioner loses the control over car insurance rate increases, the people of the state could be looking at some very high rates for their cars. However, some argue that with the loss of control from the commissioner there could be more competition – which would mean lower rates for drivers as more companies come in. They say that although there could be an initial increase, they will eventually come down as competition increases.




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