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The average cost of home insurance in Georgia is $247 per month. Many local and national insurers offer comprehensive coverages for affordable rates, including Nationwide, Grange, Travelers, Amica, and Georgia Farm Bureau Mutual Insurance.
Homeowners insurance offerings in Georgia are typically similar to other states, though it’s important to remember the state is at risk of year-round environmental dangers. Wildfires, hurricanes, thunderstorms, winter weather, and other events can all cause property damage throughout the state.
Because of these risks, homeowners in many counties might consider optional coverages, including flood insurance and extended replacement cost insurance for older homes.
Table of contents
- Best home insurance companies in Georgia
- How much is homeowners insurance in Georgia?
- What are the cheapest home insurance companies in Georgia?
- How much homeowners insurance do you need in Georgia?
- What are some of the biggest risks of owning a home in Georgia?
- How can you save money on homeowners insurance in Georgia?
- Average home replacement cost value in Georgia
- Georgia home insurance FAQs
Best home insurance companies in Georgia
Homeowners in Georgia have multiple options when choosing an insurer. Many insurers offer competitive rates for different coverages. Although some quotes are cheaper than others, the best home insurance company will be the one that delivers the coverage you need at a price you can afford.
Best insurer for cheap rates: Grange
Average monthly cost: $143
Grange was founded in 1935 and began offering insurance in Georgia in 1960. Grange also offers home insurance for the lowest average price across the state.
Lowest monthly premium compared to nine other insurers in Georgia
A+ BBB rating with an average of 4.15 out of 5 stars
An A rating from A.M. Best
Website doesn’t list high-value home or disaster optional coverages
All agents are independent
Limited to 13 states
Best insurer for high-value homes: Travelers
Average monthly cost: $169
With more than 150 years of insurance experience, Travelers is a good choice for high-value home insurance in Georgia. It regularly ranks as one of Fortune’s “World’s Most Admired Companies” and provides insurance products across the U.S., U.K., Canada, and Ireland.
Offers expanded coverage for high-value homes
Exclusive discounts for employer, association, and credit union groups
Best large insurer: Nationwide
Average monthly cost: $271
Nationwide was founded in 1926 as an auto insurance company and began selling property insurance in 1934. It received an 816 out of 1,000 score in J.D. Power’s 2022 U.S. Home Insurance Study for Overall Customer Service Satisfaction.
High financial strength rating of A+ from A.M. Best
Some policyholders can bundle coverages for discounts
Sells insurance products nationwide
Water backup coverage may not be included; it’s listed as an optional feature for Georgia homeowners insurance
Received a lower J.D. Power score than some major competitors
Best for storm coverage: Amica
Founded in 1907, Amica Mutual began issuing homeowners insurance in 1956. According to the J.D. Power 2022 Home Insurance Study Overall Customer Satisfaction Index Rating, Amica ranks the highest.
High financial strength rating of A+ through A.M. Best
High J.D. Power rating of 849/1,000
Special computer coverage and additional dwelling replacement coverage available for storm damage protection
Only offers HO-3 and HO-5 policies
No independent agents, which limits opportunities to comparison shop for Amica products
Even though it offers nationwide coverage, it’s not one of the largest insurers by market share in the country
Best regional insurance company: Georgia Farm Bureau Insurance
Established by the Georgia Farm Bureau in 1958, Georgia Farm Bureau Mutual Insurance Company offers a variety of insurance products, including homeowners insurance. Although the company was initially established for farmers and rural communities, this insurer offers insurance coverage to homeowners across the state.
Largest domestic property and casualty insurance company in Georgia
Localized knowledge and coverage options catering to localized needs
Low membership fees support local communities and farmers
Not BBB accredited
Not available in other states; homeowners would need to find a new insurer if they moved out of state
Not available for non-members of the Georgia Farm Bureau
To evaluate home insurance companies, Insurify data scientists and editorial team analyze multiple factors that reflect a company’s quality, reliability, and financial health. We consider industry ratings and information from sources like A.M. Best, Standard & Poor’s, Moody’s and Fitch, and J.D. Power. We evaluate customer service and satisfaction data, customer reviews, NAIC complaint indexes, claims payout rates, company reputation and proprietary quoting data.
How much is homeowners insurance in Georgia?
Homeowners insurance in Georgia costs an average of $247 per month, ranging from an average of $143 through insurance providers like Grange to $678 through insurers like Safeco. But your quote will rely on several factors, including your home’s location, the type of coverage you choose, and whether you have a high or low deductible.
Check Out: How Much Does Homeowners Insurance Cost?
How your policy choices affect home insurance rates in Georgia
Your policy form
Of the five policy forms offered to owners of single-family homes, the Special Form policy, or HO-3, is the most common. This form offers open-perils coverage for your home and named-peril coverage for your possessions.
Each policy form will generally cover perils differently. What is and isn’t covered may influence the price of your home insurance policy. Each homeowners policy form covers perils differently; some policies name specific perils, while others cover everything not specifically excluded from coverage.
For example, an HO-1 covers only 11 basic perils, while an HO-2 covers listed perils. An HO-5 expands upon the basic HO-3 to cover everything that’s not specifically excluded. Typically, the higher amount of peril coverage, the more expensive your premium will be.
You should always confirm which perils your home insurance policy covers prior to purchase. It’s also a good idea to specifically ask if perils like storm damage are fully covered. Keep in mind that some states require separate deductibles for wind and hurricane damages.
Learn More: How to Prepare Your Homeowners Insurance for a Hurricane Claim
Your coverage level
Your homeowners coverage level is one of the biggest influences on your monthly premium. Aside from needing the minimum coverage required by your mortgage lender, you have the option of increasing or opting out of certain coverages.
For example, if a mortgage lender requires an actual cash value insurance policy, you can decide to increase your protection and take out a replacement cost policy, which will increase your premiums. When considering optional coverages like flood insurance, you can choose not to purchase it and minimize premium expenses.
Homeowners should plan for two out-of-pocket costs when choosing a plan: monthly premiums and deductibles. The deductible is a set amount that you must pay when filing a claim before your insurer will pay any damage costs. Your home insurance deductible may be $250 or $500, and in many cases, you can choose whether to set the deductible at a minimum or maximum amount.
Lower deductibles usually lead to high insurance premiums because you’re asking for the insurer to pay as much as possible in the event of a claim. However, choosing a higher deductible can lower your premiums because you’re electing to absorb more of the costs when filing a claim.
How location affects home insurance rates in Georgia
Insurance rates vary across the country. For example, although Georgia and South Carolina border each other, Georgia has a higher average monthly cost than South Carolina. Even different ZIP codes within the same state can yield different home insurance quotes.
Quotes may vary for a number of reasons, including:
Homes in northern Georgia are more at risk from winter storm damage than homes in southern Georgia.
Major metropolitan areas, like Atlanta, tend to have higher instances of reported burglaries than other cities in Georgia.
Georgia has thousands of privately owned dams, which can fail with little warning and create flash floods. This is in addition to many counties already at a flood risk due to heavy thunderstorms.
|City||Average Monthly Quote|
What are the cheapest home insurance companies in Georgia?
Grange, State Auto, and Mercury are the three insurers with the cheapest quotes in Georgia. The statewide average quote in Georgia is $247, while Grange, State Auto, and Mercury offer average monthly quotes of $143, $157, and $165, respectively.
It’s important to understand that a number of factors influence insurance costs. Your specific coverage needs may result in a quote that’s higher or lower than these averages.
|Insurance Company||Average Monthly Quote|
|Homeowners of America||$221|
|Midvale Home & Auto||$231|
Learn More: Homeowners Insurance Companies with the Cheapest Rates
How much homeowners insurance do you need in Georgia?
Georgia state law doesn’t require property owners to purchase homeowners insurance. However, your mortgage lender will likely require it as a condition of loan approval and may recommend a specific policy. Regardless of the minimum coverage required, you might want to consider increasing or adding optional coverage.
You should understand exactly what your home insurance policy covers when you buy it so you know you’re covered for everything you want to be. Home insurance includes multiple coverage options and limitations. Separate policies also cover certain sources of damage, such as earthquakes or floods.
Though each insurer may outline specific details in their policy, standard homeowners insurance policies have several typical components.
What home insurance coverages should you buy in Georgia?
Generally, most homeowners insurance policies in Georgia will cover a variety of losses to your property, possessions, and any injured persons. Many standard home insurance policies include coverage for:
Dwelling: Dwelling coverage typically includes damage to the home from perils like fire, hail, and lightning.
Other structures: Other structures coverage refers to elements of your property apart from the home itself. This could include a detached garage, a shed, or a fence.
Wind/hail/hurricane damage: Georgia is vulnerable to damage from a variety of storms year-round. Thankfully, most general policies cover these incidents, with the exception of damage from flooding.
Personal property: This policy covers the repair or replacement of personal property that’s damaged or stolen, even if this occurs away from your home.
Personal liability: Personal liability protects you from lawsuits resulting from things you’re liable for. This includes coverage for both injury to a person and property damage.
Additional living expenses: Also called loss of use coverage, this policy reimburses you for expenses resulting from having to leave your home due to damages that make it uninhabitable.
What optional home insurance coverages should you buy in Georgia?
Most homeowners insurance policies in Georgia don’t cover motorized vehicle damage or damages resulting from certain natural disasters like earthquakes and floods. Although optional, you may want to consider these additional coverages:
Flood insurance: Flood damage due to environmental perils like thunderstorms, dam breaks, and even melted snow aren’t covered by standard policies. Because most of Georgia is at risk of flooding, this optional insurance coverage is recommended. You can purchase flood insurance through some private insurers or the National Flood Insurance Program.
Extended dwelling/contents replacement cost: Although standard policies cover damages to the home and contents, they usually have limits to how much they’ll pay out. This additional coverage extends the limit and is ideal for homeowners with valuables that may depreciate over time or those who have unique home features, like stained glass windows, which cost more.
Water backup: Different from flood insurance, water backup coverage applies to damages caused by municipal sewer line failure, a malfunctioning septic system that causes overflow into the home, and sump-pump malfunctions that cause damage in the home.
Ordinance/law and endorsement: Depending on the age of your home, you may need to update certain elements to contemporary building codes while making repairs after a claim. This additional coverage pays for those added costs and is usually purchased by homeowners with older homes.
How much home insurance coverage should you have in Georgia?
After you’ve met the minimum coverage set by your mortgage lender, you should consider whether that level of coverage is enough for your specific home features and possessions. You should consider multiple factors when choosing a home insurance policy, including:
Risk of natural disaster damage: Natural disasters can occur in every county of Georgia, though some areas are more statistically at risk than others. Consider if you need optional or extended coverage for damages from floods, tornadoes, and annual storms.
Age and construction of your home: The age and construction of your home will influence how much it costs to replace it. For instance, you may want extended coverage for a high-value home or an older home with antique floors or features.
Your comfort level with out-of-pocket costs: You can choose between actual cash value and replacement cost policies, as well as deductible limits, though each will influence how much you’ll be responsible for paying out of pocket for damages.
High-value possessions in your home: Along with standard possessions like computers and TVs, you may want extra protection for items like jewelry or artwork, which may exceed your coverage reimbursement limit.
Most home insurers offer policies that at least meet the minimum requirements set by your lender. However, it’s important to remember that insurers may offer different coverage limits, discounts, and premium rates. Consider quotes and coverage options from at least three different insurers before choosing the one that meets your needs.
Read More: What Is Replacement Cost Coverage and How Does It Work?
What are some of the biggest risks of owning a home in Georgia?
Georgia has a low-country region, a coastal region, and a mountainous region, each of which is susceptible to perils. As you shop for homeowners insurance in Georgia, it’s good to know which natural disasters you’re most at risk for and whether your basic homeowners insurance policy covers them.
Storms: Georgia is vulnerable to winter storms, tropical storms, and hurricanes. Although tropical storms and hurricanes rarely make direct landfall, their effects are still felt via heavy rain and wind each year. Northern Georgia residents are also susceptible to winter storm damage. Snow, ice, and wind damage from storms may be covered under a traditional policy, but keep in mind that flooding from storms or snow is typically not covered.
Floods: Thunderstorms are the most common type of natural disaster in Georgia and have caused substantial flooding throughout the state. Flood insurance is a policy that must be purchased separately from your homeowners insurance and is available through the National Flood Insurance Program or some private insurers.
Tornadoes: Georgia is vulnerable to tornadoes year-round, with an average of six days per year with reported tornadoes. In all, 37% of these tornadoes are classified as strong or violent (EF2 or greater). Most policies cover tornado damage, as it’s typically classified as windstorm damage.
It’s important to note that although these perils are more common in Georgia, they’re not the only risks that can threaten your home. Wildfires are also a potential threat in Georgia, with a single downed powerline creating a 564,000-acre wildfire in 2007.
Ask your agent if you should consider taking out additional coverage for any perils your policy doesn’t cover.
See Also: What Are Perils in Insurance?
How can you save money on homeowners insurance in Georgia?
Here are a few ways you may be able to save money on your homeowners insurance in Georgia, according to the Insurance Information Institute and the Georgia Office of the Insurance and Safety Fire Commissioner.
Bundle home and auto insurance
If an insurer offers other policies in addition to homeowners insurance, you may receive a discount for taking out multiple types of coverage — for instance, bundling your home and auto insurance. Since homeowners insurance rarely covers motor vehicles, you can discuss with your agent the best way to ensure your home and car are fully protected.
Ask your agent about discounts
Many home insurers offer discounts to policyholders, even to new customers. Some discounts might include installing safety and security features, like door deadbolts or alarm systems, while others may include reinforcing your room or making your home more disaster-resistant.
Review your policy annually
Items and structures depreciate in value over time, which means you might be overpaying for coverage you don’t need. By reviewing your homeowners insurance annually, you can reduce or cancel unnecessary coverage and save money on your premiums.
Comparison shopping involves comparing both the premium quote and the amount of coverage offered. By evaluating different insurers, the benefits they extend to homeowners, and what coverage options they offer, you can ensure that you get the coverage you need at the lowest available rate.
Average home replacement cost value in Georgia
The replacement cost is the cost to replace an item, structure, or property with the same kind of building materials and construction methods without deduction for depreciation.
Depending on the replacement cost of your house, you may consider increasing your coverage. For instance, if you have a high-value home, a standard homeowners insurance policy may only cover up to a set monetary limit of dwelling damage. Increasing your coverage limits will ensure you’re able to get as much reimbursement as possible.
|City||Average Home Value|
Georgia home insurance FAQs
Here are answers to some commonly asked questions about homeowners insurance in Georgia.
The average monthly cost of home insurance in Georgia is $247. However, policy premiums will vary depending on the type and amount of coverage a person has. For example, flooding can occur in all counties; if you add flood insurance to your coverage, your premiums will likely increase.
The average monthly cost for homeowners insurance in Georgia is $247. Comparing it against averages from 14 states, including California, Florida, Texas, and New York, shows an average of $209 per state. Georgia may be more expensive compared to other states because of its increased risk for hurricane damage along the coast and winter storm damage in the north.
Actual cash value (ACV), replacement cost value (RCV), and extended replacement cost policies are the three main types of homeowners insurance. ACV policies reimburse policyholders for the current value of their damaged item, minus depreciation.
RCV policyholders receive the actual cash value plus the depreciated value, which pays for a new item at current costs. Extended replacement cost extends dwelling coverage over the original insured amount. This is helpful for homeowners who discover that rebuilding costs exceed the coverage based on the home’s original calculated value.
No, homeowners in Georgia aren’t legally required by any state or federal law to obtain homeowners insurance. If you’re financing a home, however, most mortgage lenders will require a homeowners insurance policy to protect the home for as long as they’re on the deed.
In either case, homeowners insurance should be viewed as protecting your investment. Coverage can help you affordably replace items or repair damages after an event like a storm, and most policies also protect against other accidents and incidents, such as theft and if a visitor is injured on your property.
Grange, State Auto, and Mercury have three of the cheapest homeowners insurance quotes in Georgia, with average rates of $143, $157, and $165, respectively.
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- Better Business Bureau. "Grange Insurance Company." Accessed January 31, 2023
- J.D. Power. "J.D. Power's 2022 U.S. Home Insurance Study for Overall Customer Service Satisfaction." Accessed January 31, 2023
- Better Business Bureau. "Travelers." Accessed January 31, 2023
- A.M. Best. "Amica Mutual Insurance Company." Accessed January 31, 2023
- Yahoo News. "Georgia Farm Bureau Mutual Insurance Company Selects One Inc to Provide Modernized Approach to Claim Payments." Accessed January 31, 2023
- National Association of Insurance Commissioners. "A Consumer's Guide to Home Insurance." Accessed January 31, 2023
- Georgia Office of Commissioner of Insurance and Safety Fire. "Home Insurance." Accessed January 31, 2023