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A Close Look At Auto Insurance In Georgia

The state of Georgia deems it necessary for every single driver in the state to present a proof of their financial responsibilities towards their vehicles by purchasing what is known as a liability insurance policy. But in certain cases that are extremely rare, it is possible for individuals to even get their vehicles self-insured by approaching the Office of Insurance and Safety Fire Commissioner. In order to get a vehicle registered, it is necessary for the owner to present a proof of GA car insurance. Back in the year 2002, the state of Georgia deemed it necessary for all the insurance companies to submit and electronic copy of the information of the policy holder to the Georgia Electronic Insurance Compliance System.

cheapAutoInsuranceInVirginiaIn the year 2010, the minimum liability insurance requirements in the state of Georgia for the ownership of a car have been set at what is generally known within the state as 25/50/25. The first two basic numbers, which are 25/50 are basically represented in thousands of dollars and are indicative of the limit that has been set for personal bodily injury liability. The last number which is 25 is used to indicate the limit that has been set by the state for property damage liability. For instance, consider that an accident takes place and is basically caused by a driver that has minimum Georgia liability insurance, than every single person that gets injured in the other car is going to receive up to $25,000 with a limit per vehicle of up to $50,000. Any additional expenses that occur can easily be acquired by the injured party by filing a suit against the driver. Damages that have been caused to the vehicle will be paid for up to $25,000. However, if the injured party wants to, they can pursue any additional property damage claims in court as well.

People that possess a lease or an outstanding car note are required to buy more than the preset minimum liability insurance. The leasing company has the potential to protect the investment that it has made in the car by fixing its very own minimum liability amount. However, the owner of the car has the ability to increase the GA vehicle insurance coverage amount on their vehicle so that they can be protected against law suits just in case an accident is caused because of them. This additional coverage amount plays a major role in averting them from lawsuits that might be filed against them in case an accident takes place because of their negligence or carelessness.

Lapses in coverage and the fines that is applicable on them

•             Fines for Lapses in Coverage

•             The state of Georgia allows a 30-day grace period for new insurance information to be electronically submitted to its database.

As of 2005, if there is an additional lapse of 10 days without Georgia auto insurance, the car owner will be charged a lapse fee. If the lapse fee has not been paid within 30 days, the car’s registration will be suspended, and an additional reinstatement fee will be added. A second lapse within a five-year period requires a mandatory registration suspension of 90 days. A third lapse within a five-year period requires a six-month suspension and a higher reinstatement fee. If the car was sold, stolen or repossessed, the former owner must submit an affidavit to the Georgia Department of Driver Services to have the fines removed.