Georgia: Have good credit, get cheaper insurance!

Many Insurance companies in Georgia are lowering their car insurance rates for customers with top ratings.

Your credit score is a big factor in how insurance companies decide your rates. Agents say if your credit score is superior, it's a good time to shop around your car insurance.

State Farm, the largest auto insurer in Georgia, lowered its rates by an average of one and a half percent. That means savings of more than 16 million dollars for Georgia customers during tough economic times.

"Providing their current policy holders and potential policy holder with a chance to come up with a more feasible more competitive option for their car insurance," said State Farm Agent Jay Kimbro.

Many other car insurance companies are also offering lower rates in Georgia, if you qualify. Your insurance rating decides your risk level, and your bill.

"Your loss history, your drivers record, certain credit characteristics," said Kimbro.

Your credit score is a big part of that insurance score. If your credit score is superior, agents say now is the time to shop around. If your credit score is not good, your rates could increase.

"The more difficulty certain people have keeping their credit under control, then they may be more likely to have an accident and file a claim," said Doherty, Duggan, and Rouse Insurers Agent Lydia Livingston.

Georgians are driving fewer miles and having fewer crashes, and some insurance companies are lowering their rates accordingly. Agents say insurance companies rate customers differently, so drivers with good credit scores could save big bucks shopping around now.

"Anytime the economy gets to the point it is now, it's always a good time to go and make sure you are getting the most competitive option," Kimbro said.

State Farm reports their overall auto insurance rates in Georgia will cost 12% less than five years ago. Finally a little good news in the economy.

Premiums for collision and comprehensive coverage are decreasing. Liability and medical coverage is not impacted by the rate decreases.