by Sa El

May 7, 2024

If you’re one of the 64% of Georgia residents looking for the best homeowners insurance rates, you’ve come to the right place! This post will cover everything you need to know about homeowners insurance in Georgia, including average rates and how to get homeowners insurance instant quotes.

So whether you’re just starting your search or you already have a policy and are looking for a better deal, keep reading for the best information on homeowners insurance in Georgia.

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Best For Customizability

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Liberty Mutual is rated A+ by A.M. Best and known for their great customer service is our second pick. 

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Progressive is best for discounts and they have A+ ratings from both BBB and A.M. Best and is our third pick.Click below to get an accurate quote.

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How Much Is Home Insurance In Georgia?

Based on our research, the average cost of homeowners insurance in Georgia is $140 per month or $1,680 per year based on home-dwelling coverage limits between $200,000 and $250,000.

What Factors Help Determine Your Georgia Home Insurance Rates?

The cost of homeowners insurance in Georgia will vary depending on several factors, such as:

Other items that help determine your Georgia home insurance rates are:

What Should You Look For When Comparing The Best Home Insurance In Georgia?

Although it may not be the most exciting task, comparing homeowners insurance policies is essential for being a responsible homeowner. And while there are many factors to consider, a few key points should be at the top of your list. First and foremost, you’ll want to make sure that the policy you’re considering covers the replacement value of your home.

For example, if you have a $250,000 limit on your policy, that means the insurer will only pay out up to $250,000 in the event of a covered claim. If you have a $1,000 deductible, you will need to pay the first $1,000 of any covered claim yourself.

Be sure to review your policy limits and deductibles carefully to make sure they fit your needs. In addition, be sure to ask about any discounts available. Many insurers offer discounts for bundling your home and auto insurance, installing hurricane shutters, or updating your electrical system.

What Is The Cheapest Homeowners Insurance Company In Georgia?

If you’re looking for the cheapest homeowners insurance company in Georgia, look no further than Progressive. They offer various discounts, including multi-policy discounts, that can save you money on your premium. In addition, they have a wide range of coverage options so that you can tailor your policy to your specific needs. Plus, their customer service is top-notch, and they have an A.M. Best rating of “A+,” so you can be sure you’re getting a quality policy. So if you’re looking for the best value for your money, be sure to get a quote from Progressive.

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What Does Homeowners Insurance Cover In Georgia?

Home insurance covers your personal property and liability if you are legally liable for injuries or damages caused to someone else. Below we go over each area of coverage in more detail.

Dwelling Coverage

This type of coverage is used to repair or rebuild your home when damage from a covered loss to the physical structure of your home happens. You should always base the cost to rebuild your home if you purchase dwelling coverage, and if the price goes up based on third-party situations, you will be covered.

Other Structures Coverage

Other structures coverage covers damage to detached structures that are still a part of your property, such as gates, a dog house, or a fence. It’s best to know how the homeowners insurance Georgia coverage levels will work for other structures, especially when you start dealing with things like hurricane damage.

Personal Property Coverage

Personal property coverage can cover you if personal items in your home are damaged, stolen, or destroyed, like furniture and clothes. However, this coverage will not protect your car or motorcycle; you will need to reach out to your auto insurance or car insurance company for that coverage.

Loss Of Use (also called Additional Living Expenses – ALE)

Loss of use coverage means that if something happens to your home and you cannot live there because of the damage, your insurance company will reimburse your living costs.

Personal Liability Coverage

Personal Liability Protection coverage will kick in if you or your household are personally responsible for causing bodily harm or property damage to others.

Actual Cash Value Vs. Replacement Cost

One of the most confusing aspects of purchasing homeowners insurance is the differences between replacement cost coverage and actual cash value coverage.

Replacement Cost homeowners insurance will pay you the cost of replacing your belongings, whereas actual cash value homeowners insurance pays what they are worth at a specific time.

There are typically two significant distinctions between these policies:

It’s always best to go with a policy with the replacement cost benefit because it will give you maximum protection. You should ask your insurance company which coverage is offered under their policy and the different costs.

What Items Will Homeowners Insurance Cover In Georgia?

In Georgia, homeowners insurance covers your physical home, such as your roof or structural damage. It also covers things attached to your physical home (dog house), everything you own that’s portable, temporary housing if your home becomes uninhabitable, and injuries sustained by other people at your home.

Coverage options include things such as:

What Type Of Damage Do Home Insurance Companies Cover In Georgia?

The types of damage that a homeowners insurance policy would cover in Georgia are:

What to do if a natural disaster in Georgia damages your home?

No one ever wants to think about their home being damaged by a natural disaster. However, it’s essential to know what to do next if it does happen. The first step is to contact your insurance company and start the claims process.

Then, you’ll need to gather all of the necessary documentation, including photos of the damage and a list of repairs that need to be made. Once the insurance adjuster has approved your claim, you can begin making repairs. It’s essential to keep track of all expenses to be adequately reimbursed.

And finally, don’t forget to take care of yourself during this stressful time. Seek out support from family and friends and take some time for yourself. Remember, You can rebuild your home, but you can’t replace your well-being.

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Does Homeowners Insurance Cover Floods In GA?

Homeowners policies rarely include Flood coverage, but it is a must for some homeowners. Flood coverage differs from Homeowners insurance because most Homeowners’ policies specifically exclude water damage that results from rising water.

How Much Is Flood Insurance In Georgia?

According to Neptune Flood, the average cost of flood insurance is about $700 per year or $58.00 per month. Still, the price varies depending on several factors, including your geographical area and how much coverage you are looking for. Floods from a high-risk area may even exceed the entire value of your home.

How Much Is Coverage Through The National Flood Insurance Program?

The average cost of flood insurance is about $771 a year, or $64 a month through the National Flood Insurance Program (NFIP). However, they are in the process of updating how they calculate risk and monthly premiums.

When is FEMA changing the risk rating system?

On or after October 1, 2021, new policies are priced under Risk Rating 2.0: Equity in Action. From October 1, 2021, through March 31, 2022, existing policies may be able to renew under the Risk Rating 2.0: Equity in Action methodology. Policies effective on or after April 1, 2022, will be renewed under Risk Rating 2.0: Equity in Action.

How Will This New Rating System Affect NFIP flood insurance premiums?

Under Risk Rating 2.0: Equity in Action, most policyholders (96%) will see decreases or increases of no more than $20 per month. Policyholders who have premium decreases will immediately transition to the lower rate when their policies renew. Policyholders who have premium increases will see their rates transition gradually, with most annual increases capped at 18%. Premiums will only increase until the full-risk rate is reached.

What Does Homeowners Insurance Not Cover In Georgia?

Georgia homeowners insurance offers comprehensive coverage, but there are a few things your home insurance policy won’t cover that you should consider before purchasing a policy.

  • Earthquake Damage
  • Flood damage
  • Sinkhole Damage (In certain states)
  • Landslides & Mudflow Damage

It’s important to know what your policy won’t cover before you purchase. Call an agent or the company if there are any unclear questions.

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Is Homeowners Insurance Required By Law In Georgia?

Although Georgia has no laws that require homeowners to buy insurance, the smartest thing you can do for your home is get a policy.

Your home purchase will be one of the most significant investments, so not covering it with insurance would be a huge mistake.

Also, keep in mind that just because it isn’t required by law, it doesn’t mean your mortgage lender or condo association won’t need it.

Can A Mortgage Lender Require Home Insurance Coverage In Georgia?

Yes, before you can officially buy your home, your mortgage lender will require that you purchase homeowners insurance.

Once you pick the insurance company that you think would be best to cover your newly bought home, they’ll tell you your premium, and you’ll set your coverage to begin on the day of your closing.

Your lender will want you to have homeowners insurance lined up and ready to go before you come to the closing.

How To Find The Cheapest Home Insurance In Georgia?

Applying for homeowners insurance in Georgia is easy and can take just a few minutes.

The best way to get quotes and apply for coverage is online because most of the cheapest homeowners insurance companies have a free online process that will deliver a quote within seconds or minutes.

However, you can still reach out to a licensed insurance agent if you need assistance.

Here’s how to get the most affordable Georgia homeowners insurance rates:

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Taking Action

There is honestly no need to wait around if you need insurance for your home. You can find the best homeowners insurance company in Georgia and purchase coverage through our site immediately by clicking here.

Whether you’re looking for cheap rates or something more specialized like wind damage protection, we have an option that will work perfectly for you!

Frequently Asked Questions About Georgia Home Insurance Companies

How much is home insurance a month in Georgia?

The average cost across Georgia for homeowner’s insurance was $140.00 per month. However, your final costs will depend on various factors, including the type of home you live in, the coverage amount you choose, the home insurance company you choose, and what deductible you pick.

Who has the best homeowners insurance in Georgia?

Progressive has the best standard homeowners insurance policy Georgia. They have a range of options to choose from, and their rates are very competitive. Plus, they offer a discount if you have multiple policies with them. If you’re looking for the best homeowners insurance in Georgia, Progressive is the way to go.

Who has the cheapest homeowners insurance in Georgia?

This is going to depend on your needs; the company that will have the cheapest insurance in Georgia for you will depend on several factors that relate to your home, including the value of your home, the area you live in, what type of home you live in and what kind of coverage you select. Your deductibles and coverage limits will make up a portion of the cost. That’s why it’s crucial to search multiple homeowners insurance companies when you are looking for coverage.

How much is homeowners insurance on a $200000 house in GA?

The average cost of a Georgia home insurance policy on a $200,000 home in Georgia is about $140 per month, but you will need to compare homeowners’ insurance quotes as prices will vary depending on the Georgia insurers you choose and the city or county that you live in.

About the author 

Sa El