The Best Cheap Homeowners Insurance in Georgia

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Although over half of Georgia’s population is in the Atlanta metropolitan area, its borders stretch from the scenic Blue Ridge mountains to the idyllic Atlantic coast. Georgia’s territory makes up the largest land area of any state east of the Mississippi River. 

Georgia is a geographically and culturally diverse state with an attractive climate year-round. Still, the state isn’t without its drawbacks. The balmy seasons come at a price, with Georgia being highly prone to hurricanes and tornadoes. It pays to protect your Georgia property with homeowners insurance.

If you’ve never gotten homeowners insurance before or are switching carriers to save money, the process may be more involved than you think. To make shopping for insurance easier, we created this overview of homeowners insurance in Georgia.

Keep reading to learn about average Georgia home insurance rates, Georgia homeowners insurance requirements, and which companies offer cheap homeowners insurance in Georgia.

How Much is Homeowners Insurance in Georgia?

The average cost of homeowners insurance in Georgia is $2,166 per year, with $300,000 of dwelling coverage. This number is an average, and costs will vary based on company, location, and more.

One of the main factors influencing premiums is the amount of coverage you need, which is determined by your home’s value. Take a look at Georgia home insurance rates for different home values below.

Average Cost of Homeowners Insurance in Georgia

Cost of House

Annual Premium

$200,000

$1,245

$300,000

$2,166

$400,000

$2,591

Dwelling coverage is a product of your home’s replacement cost. Replacement cost is the amount of money it would take to completely rebuild your home from the ground up, including labor and materials. It’s not related to the market value of your home.

What Does Homeowners Insurance in Georgia Cover? 

The most common type of homeowners insurance is officially known as the HO-3 form. There are more limited forms of home insurance that are cheaper and cover less, called HO-1 and HO-2 forms. 

But, the HO-3 form is known as an open-peril policy, meaning it’s much more comprehensive. It’s the type of coverage most homeowners have, and the average rates we’ll reference in this article are for HO-3 policy. The coverages in HO-3 policies are as follows:

Coverage A: Dwelling

Dwelling coverage is dedicated to the structure and components of your house. It financially protects your roof, flooring, walls, windows, patios, and more. As we touched on earlier, your home’s replacement cost dictates the amount of dwelling coverage you need.

Coverage B: Other Structures

Other structures coverage safeguards fixtures and features on your property not attached to your house, such as detached garages, sheds, fences, driveways (in some cases), and more.
 
Other structures limits are 10% of your dwelling coverage. For instance, if you have $300,000 of dwelling coverage, you’d likely have $30,000 of other structures coverage.

Coverage C: Personal Property

Personal property coverage protects your belongings and valuables in and around your property. This includes furniture, electronics, jewelry, small appliances, tools, bicycles, and more.
 
When getting house insurance in Georgia, providers often start with personal property limits of around 50% of your dwelling coverage, but you can adjust this amount by creating a home inventory to figure out exactly how much you need.

Coverage D: Loss of Use

Loss of use coverage applies if you’ve been forced out of your home due to covered damage. Let’s say your house is rendered uninhabitable by a tornado. Your provider can cover the costs of hotels, food, gas, and more while they fix your home through loss of use coverage.

Coverage E: Personal Liability

Personal liability coverage is a part of every policy that can protect your finances in case you’re found liable for someone’s injury. Personal liability limits often range from $100,000 to just under a million.

Coverage F: Medical Payments

Medical payments coverage is designated for minor injuries or small accidents someone can suffer. Limits are typically between $2,000 to $5,000.
 
Where liability coverage might pay for surgery and physical therapy for someone breaking their arm after a slip and fall, medical payments coverage may pay for some stitches after someone cuts their hand.

Where liability coverage might pay for surgery and physical therapy for someone breaking their arm after a slip and fall, medical payments coverage may pay for some stitches after someone cuts their hand.

It’s Time to Switch Your Homeowners Insurance

We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Companies With Cheap Homeowners Insurance in Georgia

Based on our findings, farmers, Cincinnati Insurance, Allstate, and USAA offer relatively cheap homeowners insurance in Georgia. The cheapest home insurance in Georgia may be different for every person, which is why it’s so important to get multiple quotes before buying.

The table below shows homeowners insurance in Georgia averages at two different home valuations from some of the top homeowners insurance companies in Georgia. 

Average Cost of Homeowners Insurance in Georgia

Company

Allstate
Cincinnati Insurance
Farmers
Georgia Farm Bureau
State Farm
Travelers
USAA

$200,000 House

$1,327
$1,329
$1,222
$2,099
$1,652
$1,791
$1,470

$300,000 House

$1,804
$1,504
$1,620
$2,488
$2,082
$2,563
$1,897

The average yearly cost of home insurance in Georgia for $300,000 of coverage was 28% higher than the average home insurance cost at $200,000 of coverage, which comes out to about a $438 difference.

In our table, Cincinnati Insurance had the smallest price increase when jumping to $300,000 of coverage, while Travelers had the largest difference. But, you’ll have to get quotes for yourself for a final say. These are averages and may not reflect your experience when looking for the cheapest homeowners insurance in Georgia.

What Is the Best Homeowners Insurance in Georgia?

The best homeowners insurance in Georgia comes from whatever company offers you the best policy at the best price. You shouldn’t have to sacrifice customer service or satisfaction for affordable rates. There are over 180 homeowners insurance companies in Georgia, and you should be able to find one that suits your needs.

The carriers with the most home insurance policies written in Georgia are:

  • State Farm
  • Allstate
  • USAA
  • Travelers
  • Liberty Mutual
  • Farmers

Quoting these companies is a good place to start, but you should consult several resources to find the best homeowners insurance in Georgia. You can ask friends, relatives, and neighbors. You can research companies in your area online and check out their reviews. 

Consulting an independent insurance agent can also make the process much easier. Independent agents partner with several providers in your area and can help you find a policy with one of the best home insurance companies in Georgia for you.

Best Home and Auto Insurance in Georgia

Bundling your policies may slightly alter your home insurance search. Some companies will be better than others due to bundling discounts. 

Housing all your insurance policies with one company is called bundling. Many carriers with the capability to manage your auto, boat, or RV policy in addition to your home insurance offer discounts if you decide to bundle your policies with them.

Discuss this with the insurer or agent when looking for the best home and auto insurance in Georgia. Bundling discounts can range anywhere between 10% to 25%. It can make a notable difference. 

It’s Time to Switch Your Homeowners Insurance

We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Factors That Affect the Average Cost of Homeowners Insurance in Georgia

Insurers look at a variety of variables when underwriting to determine the viability of a policy. A company can only write a plan if it is financially wise for them, or they could go out of business. 

Providers must manage risk. As a result, higher-risk policyholders will pay higher premiums. Some of the most significant factors affect the average cost of homeowners insurance in Georgia:

  • Home location
  • Home age
  • Home construction
  • Policy deductible

Houses on Georgia’s coast will likely pay higher premiums due to the increased likelihood of hurricane damage. Tornadoes are also a major risk basically statewide. This is evidenced as early as this year when in January of 2023, tornadoes caused serious property damage in several counties. These risks of wind damage raise Georgia home insurance rates for residents.

Older houses also tend to have higher premiums than newer ones. Outdated piping, wiring, and roofing increase the risk for older homes. Also, old houses may not be built up to the latest safety codes, which can complicate matters and raise costs when rebuilding after damage.

There are measures you can take to lower your premiums. Opting for a higher deductible can lower your premiums. Installing security features on your home, like fire sprinklers, deadbolt locks, or a centrally monitored security system, can also lower your rates.

You should also always ask about what discounts you can receive. You may be eligible for discounts based on your age, military status, home construction, and much more.

Is There a Wind Insurance Policy for Georgia?

There isn’t usually a separate wind insurance policy in Georgia. Homeowners insurance covers wind damage unless otherwise specifically noted, which includes damage from tornadoes and hurricanes.

In some cases, properties with a colorful history of hurricane damage or extremely hurricane-prone properties in coastal areas of Georgia may need to pay extra for wind coverage. In this case, you may want to look into wind mitigation to cut your rates.

Georgia is one of several states that offers wind mitigation discounts for homeowners insurance policies. You can undertake certain measures on your house to make it more wind-resistant, such as reinforcing your roof, getting hurricane windows, sealing openings, and more. If a certified inspector verifies your work, you’re entitled to a discount on your insurance premiums. 

Is Homeowners Insurance Required in Georgia?

No, homeowners insurance isn’t required by law in Georgia. But, if you have a mortgage, your lender will require you to have a policy that covers the amount of the mortgage loan at least. They might recommend a provider, but you’re not obligated to choose their suggestion. It’s better to shop around.

Mortgage lenders require homeowners to maintain insurance coverage to protect their investment in your property. If the home was destroyed, they could recoup its value from the insurance company. If you don’t keep coverage on your home, your lender can force-place insurance on you.

Force-placed insurance is more expensive and less comprehensive than home insurance you can get for yourself. Avoid force-placed insurance by making timely payments on your policy and not letting it lapse.

It’s Time to Switch Your Homeowners Insurance

We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Georgia Homeowners Insurance Requirements

Insurance policies are legal contracts, and there are certain regulations that you and your insurer must abide by when you enter into agreement. Other than needing coverage when having a mortgage, many Georgia homeowners insurance requirements have to do with filing claims.

You normally need to insure your home to at least 80% of its replacement cost, but covering your home to 100% of its replacement cost is recommended. Underinsured your home by a significant amount will negatively affect your payout when you file a claim. You’ll incur a coinsurance penalty.

You should revisit your homeowners insurance every so often to adjust for changes you’ve made to your property over time that can change your replacement cost, such as renovations. 

During a claim, you need to act promptly by notifying your carrier as soon as possible after you suffer damage. You may need to take temporary measures to mitigate the damage, so it doesn’t get worse, but don’t make major repairs. Your insurer will need to inspect it.

Read your policy carefully to understand exclusions, requirements, and other procedures specific to your company. 

Georgia Homeowners Insurance Laws to Know

In Georgia, companies must acknowledge receipt of your claim within 15 days from when you file. Although there’s no time limit for how long a claim can take, a carrier must pay you within 10 days after coverage is confirmed and the full amount of the claim is determined. 

On the consumer side, you must not knowingly withhold anything from your insurer when getting a quote. Your provider needs to know everything about you to cover you sufficiently. Withholding certain information can be troublesome if you file a claim, and you could be committing insurance fraud.

How to Get Homeowners Insurance Quotes in Georgia

You should compare several options in your area when getting homeowners insurance quotes in Georgia. With Clovered, you can use our online quoting platform to compare quotes from top homeowners insurance companies in Georgia quickly and easily. 

If you’d rather speak to someone or during the quoting process, one of our licensed team of agents can assist you. Give us a call at 833-255-4117 during business hours, or you can email us any time at agent@clovered.com.

Homeowners
It's Time to Switch Your Homeowners Insurance

We partner with the nation's top homeowners insurance companies so you can get a custom policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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