Homeowners Insurance in Georgia

The first thing you'll want to know is what the homeowner's insurance rates in Georgia look like. Note that your exact rate will vary based on numerous factors, such as your credit score, claims history, and property details. Location is just one of the factors that go into calculating your insurance costs. With that said, Georgia is the 19th most expensive state for homeowners insurance, placing it above the national average. One of the contributing factors for Georgia's higher-than-average rates is its proximity to the Atlantic Ocean and the Gulf of Mexico and its susceptibility to certain natural disaster types. The average cost of homeowners insurance in Georgia is $X.XX per month, or $X.XX per year. Most cities have comparable rates, but you can see a sizable difference between the low and high ends of the scale. Sugar Hill is the lowest priced city with an average rate of $X.XX per month or $X.XX per year. In comparison, Savannah is the most expensive city for homeowners insurance in Georgia, costing residents $X.XX per month or $X.XX per year on average. Homeowners and renters who spend more than 30% of their income on housing and utility costs are considered cost-burdened. In Georgia, 18% of middle-income earners are considered cost-burdened. The number jumps to 51% for low-income earners and hits 80% and 88% for very low and extremely low incomes earners, respectively. Fortunately, there are always ways to save on your insurance premiums, as we'll discuss later.

Now we’ll take a look at what homeowners insurance in Georgia covers. Typical homeowners insurance policies provide four types of coverage: for the structures of your home, your personal property, additional living expenses, and your personal liability. In addition to the dwelling itself and attached structures like your garage, coverage for your home may include detached structures like sheds. Personal property coverage is typically divided into two types: actual cash value and replacement cost. Actual cash value factors in depreciation, meaning you’ll only get money back for what your item is worth today. If your 10-year old TV is damaged, you won’t be given enough for a brand-new TV. Replacement cost does not factor in depreciation; it will simply replace your item for a new one (up to policy limits). However, it usually comes as optional coverage for an additional fee. If your home becomes uninhabitable due to a covered event, you can be reimbursed for additional living expenses like hotel bills and meals. This is known as loss of use coverage. The last major category is personal liability coverage. If you or members of your household are liable for damages to someone else’s property, or if someone is injured in or around your home, this coverage kicks in.

The next thing to know is how to go about finding the best homeowners insurance companies in Georgia. One method is to look at various top-rated companies according to popular rating scales. The table below lists companies offering homeowners insurance in Georgia and compares their performance in different rating systems. JD Power gives ratings based on key performance indicators such as customer interaction, coverage options, price, and billing and claims processes. The higher the JD Power score, the better. The NAIC gives a company’s customer complaint ratio, and in this case, a lower score is preferred. In Georgia, popular provider State Farm scored a 4 out of 5 (higher than average) from JD Power and earned a 0.2 (well below-average number of complaints) from NAIC. USAA has the highest JD Power rating in The Peach State with a 5, while Liberty Mutual bottoms out the list with a 2 out of 5. COUNTRY has the lowest NAIC rating at 0.13, while Liberty Mutual has the highest at 0.41. Consider which categories matter most to you (Customer service? Coverage? Cost?) and look at how various providers perform in those categories specifically.