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Auto Insurance
 Auto insurance is generally composed of six different types of coverage. Some may be required by law depending on the state, and others are optional.
These coverages include:
- Bodily injury liability, for injuries the policyholder causes to someone else.
- Medical payments or Personal Injury Protection (PIP), for treatment of injuries to the driver and passengers of the policyholder's car.
- Property damage liability, for damage the policyholder causes to someone else's property.
- Collision, for damage to the policyholder's car from a collision.
- Comprehensive, for damage to the policyholder's car not involving a collision with another car (including damage from fire, explosions, earthquakes, floods, and riots), and theft.
- Uninsured motorists coverage, for costs resulting from an accident involving a hit-and-run driver or a driver who does not have insurance.
| Auto Insurance Average Premiums, 2005 - 2001 |
| 2005 |
2004 |
2003 |
2002 |
2001 |
| Georgia |
| 783.69 |
778.63 |
759.49 |
738.89 |
703.07 |
| Alabama |
| 815.94 |
816.68 |
792.46 |
757.51 |
733.79 |
| Mississippi |
| 744.84 |
749.03 |
710.42 |
680.82 |
637.62 |
| Florida |
| 1,148.29 |
1,150.64 |
1,106.42 |
1,013.79 |
916.17 |
| South Carolina |
| 752.56 |
763.35 |
745.42 |
702.88 |
636.26 |
| Louisiana |
| 1,076.09 |
1,062.33 |
1,014.88 |
927.53 |
838.96 |
| Tennessee |
| 658.60 |
666.22 |
650.44 |
632.42 |
610.65 |
| Countrywide |
| 948.97 |
961.42 |
941.31 |
887.87 |
824.31 |
Average U.S. auto rates state-by-state
Automobile Financial Responsibility Limits and Enforcement by State, Southeast U.S.
Georgia:
Insurance Required: Bodily Injury, Property Damage Liability
Minimun Limits: $25,000/$50,000/$25,000
Penalties: 60-day license suspension, registration suspension
Florida:
Insurance Required: Property Damage Liability, Personal Injury Protection
Minimun Limits: $10,000/$20,000/$10,000
Penalties: 60-day license revocation, vehicle impoundment for subsequent offense and confiscation of plates in Dade, Broward and Hillsboro Counties
Alabama:
Insurance Required: Bodily Injury, Property Damage Liability
Minimun Limits: $20,000/$40,000/$10,000
Penalties: $500 fine, license suspension
Tennessee:
Insurance Required: Financial Responsibility Only
Minimun Limits: $25,000/$50,000/$10,000
Penalties: $100 fine
South Carolina:
Insurance Required: Bodily Injury, Property Damage Liability, Uninsured Motorist
Minimun Limits: $15,000/$30,000/$10,000
Penalties: Max. $200 fine,less than 30 days jail, license and registration suspension
Source: Insurance Information Institute |
| Insured Vehicles In The U.S.
The latest figures available indicate 169 million vehicles were insured in the United States (excluding Texas).
A significant majority of these vehicles were insured through what is called the Voluntary Market whereby vehicle owners obtain insurance in the open market. Only 2.7 million vehicles, or 1.6 percent, were insured in what is called the Shared Market, whereby state insurance plans of last resort are available at higher rates for those who cannot qualify under regular underwriting criteria for insurance. |
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