Homeowners Insurance in Augusta, Georgia

Augusta, Georgia’s second oldest and third largest city, is a charming spot for homeowners, young and old. As an independent insurance agency, we make it our job to help Augusta residents protect their homes and belongings as well as possible so they can enjoy all the city has to offer.

We’ve broken down average home insurance rates, cost factors, and more in the city to help you find the best home insurance in Augusta. Read on below.

The average cost of homeowners insurance in Augusta is about $2,015 annually, although this rate will vary by location, company, and more. Every person has different coverage needs that will affect premiums.

The average insurance cost in Georgia overall is about $2,166 yearly, so Augusta’s premiums are slightly below the state average. This is likely due to Augusta’s inland location that shields it from the brunt of possible hurricane damage. Coastal cities tend to have higher insurance premiums due to the heightened risk of wind and water damage.

Another critical factor of rates is home value. Your home’s value informs the amount of insurance you need. Companies typically determine your home’s value through its replacement cost, which is the amount required to rebuild your house based on construction costs.

Larger, nicer homes cost more to rebuild and more to insure. The following table shows average home insurance rates in Augusta at some typical home values.

Although rates vary by company, every home insurance plan includes the same coverage areas. All HO3 homeowners insurance policies (the typical home insurance plan) cover your property and liability in the following ways.

Getting the best homeowners insurance in Augusta requires an understanding of your coverage needs and budget. Every home and person differs, and a policy can’t always reflect your nuanced coverage needs by default. 

You may need to tweak the limits in your policy to tailor it to your property. You should also always shop around to find the best price.

You’re responsible for setting many of your policy’s limits. Ensure you have enough coverage to fully protect your property. For example, you must set your dwelling limit to at least 80% of your home’s value, but you can increase it to 100% depending on your budget.

You should always set your personal property limit to cover the full value of your belongings. To determine how much you need, we recommend making a home inventory list. Value all your belongings and add up their total cost. This final number will be the precise amount of personal property coverage you need.

Insurers require you to carry at least $100,000 of liability coverage, but we always suggest at least $300,000. You should have enough liability coverage to at least equal the worth of all your financial assets in case someone pursues you legally. You can raise your liability limits up to $1 million at most insurers.

Recognize when and how your insurance policy covers you so you’re never caught off guard after damage, and you can potentially address coverage gaps with endorsements.

Home insurance plans protect against over a dozen possible sources of damage called perils. Some of the most commonly covered perils include fires, hurricanes, theft, and water damage. While the list of covered perils is extensive, it’s not all-encompassing.

Some perils and items in your home aren’t fully covered by default. You can get policy endorsements, which are optional coverage add-ons, to add protection for specific areas. For example, you can get endorsements for certain perils, such as water backup and sinkholes.

 You can also get endorsements for other items and property aspects not covered by default, such as especially valuable jewelry and home-based businesses. See what endorsements are available and determine if your property needs them.

Saving money is typically at the top of the priority list. You will always find savings when you shop around for home insurance. Business strategies and underwriting practices vary by company, producing different rates for the same coverage amounts. Comparing options from multiple carriers will ensure you find the best price for your desired plan.

Comparing companies will also help you find the best customer service among carriers, which is a qualitative factor outside of rates that may affect your decision. You can also get the help of independent insurance agents in Augusta.

While shopping around, you might notice that home insurance coverage doesn’t include flooding. Homeowners insurance never covers floods due to their frequency and severity.

Floods are America’s most common natural disaster. In Augusta, heavy rainfall in short periods can cause flooding in several areas. Additionally, some properties in downtown Augusta, Martinez, and other areas of the city are in federally designated flood zones that have higher chances of flooding due to their topography.

The Federal Emergency Management Agency (FEMA) maintains flood zone maps for the country and also administers the National Flood Insurance Program (NFIP), the nation’s largest flood insurance provider. 

You need a separate flood insurance policy to guard your home from possible damages from flash flooding, mudslides, storm surges, and other rushing waters. Compare your options from the NFIP and a growing number of private flood insurers for complete safety.

Several factors affect the cost of home insurance in Augusta, as companies attempt to factor in as many variables as possible that influence the chances of filing a claim. Properties and policyholders that are more likely to suffer property damage or file a claim have higher premiums.

Some of the most important factors companies consider for home insurance rates in Augusta are:

Home Age: Older construction is more prone to failure and property damage during weather events. Dated roofs, siding, and pipes are more likely to cause issues, and insurers offset the financial risk of covering these components by charging higher premiums.

Home Construction: The way your home was built also impacts rates. Masonry homes made of brick or concrete tend to withstand wind and fire damage better than wooden frame houses and often have lower premiums. Companies may also ask about your roofing materials and foundation type, as some are more prone to damage than others.

Home Features: Having high-end fixtures or installations will increase your home’s replacement cost and raise premiums. Additionally, attractive nuisances, like pools and trampolines, heighten your liability risk and can raise your rates at some companies. On the other hand, security systems and deadbolt locks can reduce insurance costs.

Policy Deductible: Your deductible is the amount of money you must pay out of pocket when filing a claim. Increasing your deductible lessens your insurer’s financial responsibility in a claim and lowers your premiums.

Claims History: Insurance companies view someone with a history of filing home insurance claims as a higher financial risk than someone who has never filed. You’ll likely pay more for insurance if you’ve filed multiple claims in the past three to five years.

No law requires home insurance in Augusta, but mortgage lenders can. Your lender will ensure you have insurance on your property for the duration of your loan.

Lenders regularly put down hundreds of thousands to help fund home purchases. They mandate homeowners insurance as a condition of their loans to protect their investments. If the home got destroyed, the insurance company would recoup you and your lender for the damage.

You’re responsible for getting home insurance on your home. If you don’t secure coverage or let your policy lapse during your mortgage, your lender will give you an insurance plan of their choice. They’re not doing you a favor when they do this.

This type of coverage is called force-placed insurance and isn’t advantageous to the homeowner. Force-placed coverage is more expensive and less helpful than any policy you can get on your own. We recommend avoiding it at all times.

Using independent insurance agents in Augusta is one of the best ways to get quotes. Independent agencies, like us here at Clovered, partner with several companies so we can bring you the best rate we can find.

Use our proprietary quoting platform to compare Augusta home insurance quotes completely online. Or, you can call our team of licensed agents for help at 833-255-4117. You can also email us at [email protected] with any questions.