ATLANTA – State Representative David Wilkerson (D-Powder Springs) has released the following statement after one of the major insurance companies announced a 10 percent reduction in auto insurance rates for Georgia policyholders. Rep. Wilkerson highlights that this rate reduction will offer some relief after a period of rising premiums but notes that many Georgians will still be paying more than they did just two years ago:
“Any rate relief is positive for Georgia families, but the reality is that this 10 percent rollback doesn’t erase the substantial increases drivers have already absorbed. Even with the reduction, policyholders are still paying more than they were three years ago, and those increases have surpassed the overall rate of inflation.
“Over the past two to three years, auto insurers have implemented multiple rate hikes in Georgia, citing rising repair costs, inflationary pressures and increased accident severity. For many customers these cumulative increases have outpaced both wage growth and the national inflation rate.
“I welcome some shift toward stabilization after a volatile period. However, affordability remains a pressing issue, particularly for low and middle-income households.
“The insurer’s decision comes amid ongoing concerns about overall affordability in the auto insurance market. Georgia drivers have faced some of the fastest-growing premiums in the country, driven by rising vehicle repair costs, supply chain challenges and an increase in crash claims.
“I encourage consumers to review their policies, compare options and explore available discounts to help manage ongoing costs.”
Representative David Wilkerson represents the citizens of District 38, which includes a portion of Cobb County. He was first elected to the House of Representatives in 2010 and currently serves on the Budget & Fiscal Affairs Oversight, Education, Judiciary Juvenile and Retirement committees.
###