After years of steep increases in the cost of auto insurance, millions of Georgia policies are getting a price break.
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Channel 2 Action News Investigates obtained new data from the state showing dozens of insurance companies have received approval to lower rates, affecting 3.6 million policies and amounting to an estimated $500 million reduction in insurance costs this year.
The reductions come after years of rising premiums. Insurify reports that auto insurance rates increased more than 40% between 2021 and 2025.
For drivers such as Peter Franchot, those increases have meant paying about $100 more a month for car insurance than he used to.
“I think maybe a shop around is probably a good idea and probably overdue for that,” Franchot said.
State Rep. Matt Reeves, a Gwinnett County Republican, told Channel 2 Consumer Investigator Justin Gray that falling rates mean consumers should consider shopping around for coverage.
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“Insurance is a market and the market is healthier for Georgia insurance customers,” Reeves said. “It’s a buyer’s market now again. And so if you shop around, you can save some money.”
Reeves alerted Gray to the statewide insurance data this week after being briefed on the numbers.
“We have a half-a-billion-dollar reduction in insurance costs this year, $500 million,” Reeves said.
The data obtained by Channel 2 Action News Investigates shows substantial decreases in approved rates for some insurers.
Among the reductions in the state data:
- Travelers Property Casualty Insurance Co.: 10.1% decrease
- MIC General Insurance Corp.: 9.8% decrease
- Nationwide Insurance Co. of America: 9% decrease
- Safe Auto Choice Insurance Co.: 9% decrease
- Direct General Insurance Co.: 7% decrease
- Country Casualty Insurance Co.: 6.13% decrease
- Country Mutual Insurance Co.: 6.04% decrease
- Country Preferred Insurance Co.: 5.92% decrease
- Allstate North American Insurance Co.: 5% decrease
- Garrison Property and Casualty Insurance Co.: 4.7% decrease
- USAA Casualty Insurance Co.: 4.5% decrease
The state spreadsheet also shows smaller reductions for several other insurers.
The filings do not mean every customer will automatically see the same percentage decrease on an individual bill. The figures represent the rate changes approved by the state for the insurers listed in the data.
Consumer adviser Joel Larsgaard, host of the “How to Money” podcast, says it is time for consumers to price compare.
“We’re seeing discounts. Finally, for the first time in a long time, it’s been inflation, it’s prices rising,” Larsgaard said.
Larsgaard recommends consumers shop around rather than assuming their current insurer will necessarily offer them the lowest price.
Consumers can also use an independent insurance agent to compare policies from multiple companies.
“It’s so worth it. I just did the shopping myself with an independent agent and it worked,” Larsgaard said. “I’m saving over $1,000 a year and I was able to get superior coverage.”
But even as insurers cut rates, consumers may have to actively look for those savings.
“The squeaky wheel gets the grease,” Larsgaard said. “And so you have to do the shopping.”
Reeves’ message to consumers is simple: Check the competition.
“It’s a buyer’s market now again,” Reeves said.
For drivers who have not compared rates recently, Larsgaard said an independent agent can also do much of that shopping for them.
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