Homeowners Insurance Georgia

Here we outline what you need to know to make smart choices when buying homeowners insurance in Georgia. We rank the best homeowners insurance companies in Georgia, identify cheap homeowners insurance companies in Georgia for six coverage levels and provide expert recommendations on how much coverage you need.

No matter where you live, it pays to compare rates for homeowners insurance. The same is true for Georgia. Premiums can vary, sometimes by a little, sometimes by a good amount more.

Why is that? Michael Barry, a spokesman for the Insurance Information Institute, a trade group, explains that various factors influence home insurance rates. They can includebuilding costs in your area, local crime rates, and the risk where you live from natural disasters such as hurricanes, hail storms and tornadoes. And, of course, insurance companies want your business and that may affect pricing.

Homeowners insurance Georgia explained and how much coverage to buy

Before we dive into the other research on costs and companies, you need to know what you’re buying and why, and how much you need. So, let's look at the basic components of home insurance, and how much to get to make sure you’re not underinsured.

How much is homeowners insurance in Georgia?

The average cost of home insurance in Georgia is $2,555, making Georgia the 19th most expensive state in the country for home insurance. Its average cost is $250, or 11%, more than the national average of $2,305, for the coverage level of:

• $300,000 dwelling coverage
• $1,000 deductible
• $300,000 liability

How deductibles affect your insurance rate

A deductible is the amount of money you pay before your insurance company pays out on a claim. For example, if your home sustains damage of $3,000 and you have a $500 deductible, you pay the first $500 and your insurer pays $2,500.

Some deductibles are based on dollar amounts. Others are based on a percentage of your home's value. If your home is insured for $200,000 and your deductible is 2%, you will owe $4,000 before insurance coverage kicks in.

You choose a home insurance deductible amount, which applies to claims for damage to your home or belongings, but not if you’re sued or a medical claim is filed by someone injured in your home. These are typically in the amounts of $500, $1,000, $1,500, $2,000 and $2,500.

Understanding the implications of the deductible you choose when buying homeowners insurance is important. In Georgia, as in all the states, a higher deductible means you'll save on insurance premiums.

The savings can be significant. Barry says that most insurers recommend a deductible of at least $500, which may be ok for you. But keep in mind that by raising that to $1,000, you're likely to save as much as 25% on your policy, according to the III. Of course, that's $1,000 out of your pocket if there are major problems, so it's a bit of a balancing act.

Georgia home insurance comparison by ZIP code

Savannah ZIP code 31410 is the highest for the Georgia home insurance -- $3,532. ZIP codes for Alpharetta, Sandy Springs and Lawrenceville, with rates ranging from $2,141 to about $2,160 $1,239, are among the cheapest Georgia home insurance rates by ZIP code.

By entering your ZIP code in the search box, you’ll see the average home insurance rate for that area, as well as the highest and lowest premium fielded from major insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest the highest rate and the lowest rate is how much you can save by shopping your policy.

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HOME INSURANCE CALCULATOR

Average home insurance rates in CALIFORNIA

Zip

Dwelling Dwelling coverage pays for the rebuilding or repair of your physical home structure. Choose an amount that would cover the cost of rebuilding your home.

$200,000$300,000$400,000$500,000$600,000 $200,000

Deductible Choose the amount you want to pay out-of-pocket before insurance kicks in. This applies to your dwelling and personal belongings claims.

$1,000 $1,000

Liability Covers the medical expenses of people who are hurt while in your home or on your property, as well as damage you caused to others’ property. Also covers legal fees if you are sued by someone hurt in your home or on your property. Limits of $300,000 or $500,000 are recommended.

$100,000$300,000 $100,000

SEARCH

94404 - Foster City

Dwelling $200,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $797

HIGHEST RATE: $1,179 LOWEST RATE: $496

Most & least expensive zip codes for homeowners insurance in California

Most Expensive

Zip Code	City	Highest Rate
92325	Crestline	$1,450
92391	Twin Peaks	$1,426
92321	Cedar Glen	$1,425
92352	Lake Arrowhead	$1,423

Least Expensive

Zip Code	City	Lowest Rate
94086	Sunnyvale	$742
94085	Sunnyvale	$743
94087	Sunnyvale	$743
95051	Santa Clara	$743

• METHODOLOGY +

  Methodology ×

  Insurance.com commissioned Quadrant Information Systems to field home insurance rates from major insurers in each state for nearly all ZIP codes in the country for 10 coverage levels based on various dwelling and deductible limits. The homeowner profile is a 35-year-old married applicant with excellent insurance score; new business HO3 policy for house built in 2000 with frame construction and composition roof. Other Structures: 10%. Loss of Use defaulted: 10%. Guest Medical limit: $5,000. Personal property: 50% of dwelling coverage for replacement value.

Georgia home insurance comparison: Rates for 10 coverage levels

Here we show the average cost of Georgia homeowners insurance for 10 coverage levels, based on a rate analysis by Insurance.com.

Enter a dwelling coverage of $200,000, $300,000, $400,000, $500,000 or $600,000. You will see annual average rates based on a $1,000 deductible for each liability limit of $100,000, $300,000.

Best homeowners insurance in Georgia (GA)

The homeowners insurance company with the cheapest rates isn’t necessarily the best. Other factors to consider are customer service and claims processing. Insure.com’s 2021 Best Home Insurance Companies report ranks major insurers on feedback from 3,700 customers. They are asked about the value for the price, customer service, claims service and if they’d recommend the company.

Here is how the best home insurance companies in Georgia ranked on the survey. Scores are out of 100.

Erie, Esurance, Nationwide, Chubb and AIG are the top five best carriers for home insurance, based on customers’ feedback on our survey.

Cheap homeowners insurance companies in Georgia (GA)

Based on our rate analysis, you’ll see Farmers was the cheapest home insurance company, among carriers surveyed. Allstate, Nationwide and USAA also had cheap insurance rates for Georgia homeowners, compared to the other companies. Here are home insurance rates by company for six coverage sets, all with a $1,000 deductible.

Because costs are not uniform, it's crucial to shop around for the best home insurance rate.

Many factors influence the price you pay for insurance. Among others, the III cites the following:

• Your home's square footage
• Building costs in your area, and your own home's construction, materials and features
• Local crime rates
• The likelihood of certain types of disasters, such as hurricanes

So, shop around for the right policy. Senior Consumer Analyst Penny Gusner suggests getting at least three price quotes when shopping for coverage, and says that doing so can save you up to hundreds of dollars annually.

Although Georgia home insurance costs can be expensive, it's a mistake to cut corners in an attempt to save. Gusner recommends that you get enough insurance to cover the costs to:

• Repair or replace the structure of your home and personal possessions
• Defend yourself against liability costs if someone is hurt on your property
• Pay for a temporary place to live while your home is repaired or replaced

Home insurance in Atlanta (GA) and Georgia’s other largest cities

Let’s explore average rates for some of the state's largest cities, for a policy with $300,000 dwelling coverage, a $1,000 deductible and $300,000 in liability protection. You’ll see homeowners insurance in Atlanta, the Peach State’s capital and the city with the most residents, costs about $40 less than the state average. Of the approximately 40 ZIP codes in Atlanta, rates ranged from a high of $2,709 for ZIP 30354 to $2,178 for ZIP 30338.

Georgia home insurance discounts

There are several ways to reduce your Georgia home insurance costs. Many insurers will lower your bill if you purchase more than one type of insurance policy from them. This process – known as "bundling" – can cut your costs by up to 19%, on average, according to Insurance.com’s discount data analysis.

You can also cut your costs by making your home more disaster-resistant. Installing hurricane glass or accordion shutters might net you a discount.

Other possible home insurance discounts include:

• Installing smoke detectors, a burglar alarm or dead-bolt locks -- 5% each
• Installing a sprinkler system, and a fire and burglar alarm -- 15% to 20% percent
• Loyalty discounts – about 4% on average, after three to five years, and 6% for six years or more

Georgia homes underwater by county

When a home is underwater it means the homeowner owes more on the mortgage than the home is worth in the current market. For example, if the principal balance on your mortgage is $250,000 but the fair market value of the home is $200,000, your home is underwater. In other words, you could not sell the home and make enough from the sale to pay off your mortgage.

According to Insurance.com’s 2020 analysis of second quarter data in Georgia, the counties of Dougherty, Lowndes and Colquitt have the highest percentage of underwater homes in the state. Columbia, Barrow and Fayette have the lowest percentage of underwater homes.

Georgia home insurance laws and FAQs

Why do I need flood insurance?

A flood can strike anywhere. In fact, the No. 1 and No. 2 biggest flooding events - in terms of flood claim payouts - in U.S. history both impacted Georgia. Those were Hurricane Katrina in 2005 and Hurricane Harvey in 2017.

Floods also occur more often than any other natural disaster in the U.S. Because Georgia is at high risk of hurricanes, it also has an elevated risk of storm surge flooding damage. In 2020, Georgia ranked ninth in the country for risk of storm surge, based on the number of houses in harm’s way and the cost of reconstructing those homes.

Anywhere from 10,000 to 163,000 single-family homes are at risk of damage from storm surge in Georgia, CoreLogic says. Storm surge is projected to potentially cause between $3 billion and $37.33 billion in the state, depending on the strength of the hurricane.

Among metropolitan cities, Savanah ranked 13^th in terms of multi-family homes at risk for storm surge.

As of 2019, 82,259 flood insurance policies were active in Georgia, representing $22.8 billion in coverage.

That includes 14,206 direct NFIP flood insurance policies representing $3.8 billion, and 68,053 write-your-own policies representing $19 billion. The average flood insurance premium was $642 in 2018, according to the Insurance Information Institute.

An NFIP policy provides coverage of up to $250,000 for the structure of the home, and up to $100,000 for personal possessions.

The average amount of flood coverage per policy was $257,000 in 2018, according to the Insurance Information Institute.

The average flood claim in 2018 was $42, 580. That was down significantly from $91,735 in 2017, a year of several significant hurricane strikes in the U.S.

A handful of private insurers also offer flood policies. In 2019, the top three private companies nationally in terms of providing flood insurance were:

• Assurant Inc.
• Zurich Insurance Group
• Swiss Re Ltd

You must buy flood insurance through an agent or company that participates in NFIP. At its official website, the city of Augusta has a list of 26 Georgia insurance companies that FEMA has approved to sell flood insurance.

What is windstorm insurance?

Hurricanes have a history of striking Georgia, particularly along the coast of the Atlantic Ocean. Three of the 10 costliest hurricanes to impact the U.S. caused damage in Georgia:

• Hurricane Michael: 2018
• Hurricane Irma: 2017
• Hurricane Katrina: 2005

For that reason, the state is one of 19 in the U.S. in which insurance companies are allowed to charge a hurricane deductible, according to the Insurance Information Institute. That means that you will pay a separate deductible before your insurance kicks in for damages resulting from a hurricane.

Wind insurance protects you from most damages -- aside from flooding -- caused by storms such as hurricanes.

If you are unable to obtain windstorm coverage -- for example, because you live on the coast and are at much greater risk of hurricane damage -- the Georgia Underwriting Association will provide coverage. You can visit the GUA website for more information.

Is hail damage covered?

Hail can cause serious damage. Between 2000 and 2019, hail-related insured losses averaged between $8 billion to $14 billion a year, according to Aon.

The National Weather Service notes that hail in Georgia typically is 1 to 2 inches in diameter, but still can cause considerable damage, as it may fall at speeds greater than 100 mph.

Homeowners insurance typically will cover hail damage to the structure of your home, including the roof, windows, a deck or the garage.

Hail damage to your car is covered only if you have comprehensive coverage on your auto insurance policy.

Georgia's Fair Access to Insurance Requirements (FAIR) Plan provides hail coverage to people who live in coastal communities and cannot get the insurance otherwise. For more details, call 770-923-7431.

Do I need earthquake insurance?

Earthquakes might not seem like a big threat in Georgia, but small ones do occur from time to time.

The Georgia Emergency Management Agency/Homeland Security reports that although temblors are rare in the state, "scattered earthquakes have caused significant damage."

Purchasing earthquake insurance can give you the peace of mind of knowing that you are covered if the ground should begin to move.

Coverage tends to be cheap in a low-risk state such as Georgia. According to the Insurance Information Institute: "A brick home would cost approximately $3 to $15 dollars per $1,000 in the Pacific Northwest, while it would cost between 60 to 90 cents in New York."

What can I do if I can't get homeowners insurance in Georgia?

In some cases, you might find it difficult or impossible to get homeowners insurance from a private insurer. Georgia residents who are unable to secure homeowners coverage can turn to the Georgia Underwriting Association.

The GUA serves as a residual insurance market with the mission to ensure that "basic property and liability insurance may be made available to all Georgians." You can find more information at the GUA website.

Coverage offered through the association falls under the category of fair access to insurance requirements -- or FAIR -- plans. This type of coverage exists throughout the U.S. and is intended to cover homeowners who cannot get coverage through no fault of their own.

For example, if you live in an area extremely prone to wind or hail damage, you might need these plans. This coverage often is more expensive than policies you can get on the private market, according to the insurance Information Institute.

To qualify for FAIR plan coverage, you must make improvements to your home that limit the risk of fire, theft or water damage.

Where do I get claims processing info or file a complaint?

You can contact the Consumer Services Division of the Office of Commissioner of Insurance and Safety Fire if you have a claim dispute, premium problem or other concern regarding your insurance company.

To file a complaint, fill out a complaint form at the department website.

When filing a claim, also provide copies of any supporting documentation that is available, including invoices, canceled checks, advertising materials, and letters between you and the company.

Also include:

• Your name, address, daytime telephone number and email address
• The exact name of the insurance company
• The full name of any agent or adjuster who may be involved
• Your policy number
• Your claim number and the date of your loss, if applicable
• A copy of both sides of your insurance card
• A concise description of your problem

You can file your complaint online. Or, if you prefer, mail all of this information to: Georgia Department of Insurance, 2 Martin Luther King Jr. Drive, Suite 716 West Tower, Atlanta, Georgia 30334.

You can also file by email. If you file by mail or email, the process will be slower, according to the Consumer Services Division.

The department will investigate the complaint. If the department determines that the insurance company has acted improperly, it will require corrective action on the part of the insurer. Just be aware that there are limitations to what the division can do.

If you have additional questions, call the Consumer Services Division at (404) 656-2070 in the metro Atlanta area and toll-free at (800) 656-2298.