Homeowners Insurance in Atlanta, Georgia

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  • Homeowners Insurance in Atlanta, Georgia

Atlanta is arguably the heart and soul of the Southeast. As the largest city in Georgia, homes are a hot commodity that typically signifies much more than just a place to live.

Property owners in Atlanta need homeowners insurance to protect their valuable home investments. The right coverage will provide peace of mind from life’s unexpected curveballs.

We break down average costs and money-saving tips in this guide to help you secure the best home insurance in Atlanta.

How Much Is Homeowners Insurance in Atlanta, Georgia?

The average cost of homeowners insurance in Atlanta is about $2,093 annually, which is higher than the statewide average rate of $1,245 yearly. However, rates vary depending on many factors, including your home’s value.

While Atlanta is notably inland, Georgia’s location in the Southeast leaves it vulnerable to hurricanes overall. Additionally, relatively high property values in Atlanta can contribute to the higher average rates. 

Another critical factor is the amount of coverage you need, which depends on your home’s replacement cost. Look below at average premiums in Atlanta based on the value of your house.

Average Cost of Homeowners Insurance in Atlanta
 Dwelling Coverage $200,000 $300,000 $400,000
Annual Premium $1,497 $2,245 $2,994

Homeowners insurance costs vary due to many factors besides replacement costs, such as your location, home age, and insurance provider. The company you choose plays a significant role in how much you pay for home insurance in Atlanta.

Cheapest Home Insurance Companies in Atlanta

Rates vary by company and property, but Farmers had the cheapest homeowners insurance in Atlanta of the carriers we analyzed, with their average rates coming in 44% below the city average. 

Farmers, like many of the companies on our list below, is a national insurance carrier offering products in all 50 states. They had the lowest premiums on average, but you may find differently once you get a quote. Companies assess many factors about you and your property to determine premiums, and you can have a factor that increases your rates. 

Additionally, company business needs at the time of quoting can affect how much they charge for premiums, which is why you should always get multiple quotes when seeking home insurance coverage to find the best deal.

The following table lists some popular home insurance companies in Atlanta and their average rates.

Average Rates of Home Insurance Companies in Atlanta
Company Average Annual Rate
Allstate $1,802
Chubb $1,757
Country Financial $2,642
Farmers $1,155
Nationwide $2,047
State Farm $2,400
Travelers $2,187
USAA $1,770
Average $2,093

There are more Atlanta insurance companies than these, and you should assess as many options as possible when looking for coverage. If you need additional help in your search, you can consult an Atlanta home insurance agency that partners with multiple companies.

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.

Atlanta Homeowners Insurance Coverages

While rates vary by company, the coverages they offer in their home insurance plans remain standard. Every home insurance policy contains the same coverage areas for your home’s structure and belongings and your personal liability.

Atlanta Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially guards your home’s structure and components, including the roof, walls, flooring, patios, wiring, and pipes.
Other Structures Coverage Other structures coverage protects property features unattached to your main house, such as fences, gazebos, sheds, detached garages, and pools.
Personal Property Coverage Personal property coverage safeguards your possessions, including furniture, electronics, clothing, tools, jewelry, and art.
Loss of Use Coverage Loss of use coverage helps pay for living expenses if you must move out of your house after property damage makes it uninhabitable. Your insurance can cover temporary lodging, groceries, and gas.
Liability Coverage Liability coverage covers you financially in case someone legally pursues you for property damage or injuries you cause them. Your insurer can cover legal fees, medical bills, and more.
Medical Payments Coverage Medical payments coverage helps cover minor medical expenses if someone is hurt around your property, regardless of legal liability.

Policies protect your home and belongings from possible damage sources called perils. Some common covered perils include hurricanes, fires, theft, and water damage.

How to Get the Best Homeowners Insurance in Atlanta

The best homeowners insurance in Atlanta covers your property and liability sufficiently while staying within your budget. Every policyholder is different, so you may need to adjust your policy to suit your coverage needs. You should also always shop around to find the best deal.

Customize Policy Limits

You’re ultimately responsible for setting the coverage limits in your policy. You can raise or lower them to fit your budget and coverage needs. For example, we recommend creating a home inventory to determine the exact amount of personal property coverage you need.

An inventory will catalog all your belongings and their prices. You can set your personal property coverage limit to the total cost of all your items. This ensures you have enough coverage without overpaying for unneeded limits.

We also suggest raising your liability limits beyond the minimum required amount. Most people suffice with $300,000 to $500,000 in liability coverage, but make sure you have enough to cover your assets. 

Consider Endorsements

While home insurance plans cover several perils in multiple ways, they’re not all-encompassing. Sometimes, you may want to enhance your coverage with an endorsement, which is an optional add-on for certain risks or items.

For instance, one common endorsement is scheduled personal property coverage. Jewelry, art, and memorabilia are only covered up to $2,500 or $5,000 under default personal property coverage limits. If the value of one of these items exceeds this sub-limit, it isn’t fully covered. You can purchase scheduled personal property coverage to fully insure valuable items. 

Other common endorsements include water backup coverage, home-based business protection, and sinkhole coverage.

Shop Around

No one wants to pay more than needed for home insurance. Once you know what you need in a policy, you should shop around to find the best rates. Never settle for the first quote you get. Compare rates and coverage options from multiple companies to be sure you’re getting a good deal.

Shopping around will also help you find the best discounts. Discounts vary by company, but some common ones are for:

  • New homeownership 
  • Retirees
  • Military veterans
  • Bundling policies
  • Security systems

What to Know About Flood Insurance in Atlanta

While on the topic of home protection, we want to point out that homeowners insurance never covers flood damage. Many assume it does and then are dismayed that their policy won’t help them after experiencing a costly flood. 

The city of Atlanta reports that overflowing rivers and ponds can cause problems in certain areas, especially if your home is near a water body. Additionally, heavy rainfall in short periods can cause flash flooding.

No property is fully safe from flooding. The National Flood Insurance Program reports that over 20% of its flood insurance claims come from outside of federally designated high-risk areas.

Flooding is the nation’s most common and costly natural disaster, and you should look into Atlanta flood insurance to be prepared. Most people purchase coverage from the NFIP, but you can also shop from private flood insurance companies.

Stay Above Water With Flood Insurance

Do you want to pay for costly and common flood damage yourself or have an insurance policy pick up the tab?

Cost Factors of Home Insurance in Atlanta, Georgia

The average homeowners insurance in Atlanta is about $2,093 annually. Companies examine as many factors as possible to determine premiums. Properties with higher possibilities of damage or more insurance coverage have higher premiums. Some aspects companies consider for rates are:

Location: Houses in more damage-prone locations, such as flood zones or high-crime neighborhoods, will have higher premiums. Conversely, houses near fire stations or hydrants typically have lower premiums.

Home Construction: How your home was built impacts rates. For example, masonry homes tend to have lower premiums than wooden frame houses because brick and concrete can withstand wind and fire damage better. Additionally, old roofs, siding, and other components can raise rates as they’re more likely to fail.

Replacement Cost: Insurers typically value your house through its replacement cost, which is how much it would cost to rebuild it after damage. Larger, nicer homes cost more to rebuild and more to insure.

Claims History: People or properties with a history of home insurance claims usually have higher premiums than people or places with clean claims records. Companies typically ask if you’ve filed claims in the recent past when quoting, as a history of claims indicates a higher financial risk for the provider.

Is Home Insurance in Atlanta Required?

The only entity that can require homeowners insurance in Atlanta is your mortgage lender. Lenders always require coverage as a condition of their loans.

No law requires home insurance in Atlanta. But, if you have a mortgage, your lender will ensure you have insurance throughout your loan. This protects their investment in your home. If your house got destroyed, you and your lender would be recouped through the insurance policy.

If you let your coverage lapse during your mortgage, your lender will force place insurance on you. Force-placed coverage is more expensive and less helpful than coverage you can find on your own. We always recommend maintaining your own Atlanta property insurance instead.

How to Get Home Insurance Quotes in Atlanta

Getting several home insurance quotes in Atlanta when seeking coverage is the best way to find the coverage you need at your desired price. It may take some time to shop around, but the savings will be worth it. If you want help with the process, our team at Clovered is here for you.

You can use our online quoting platform to easily assess your options from many of Georgia’s top insurers. It only takes a few minutes to input some information about your property and receive quotes.

Or, if you’d rather chat with a licensed agent for your homeowners insurance quote in Atlanta, call us at 833-255-4117 during business hours. You can also email us with questions 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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