Homeowners Insurance in Canton, Georgia (2024)

According to the United States Census Bureau, most homeowners, just over 60% nationwide, have mortgages. If you have a mortgage, you must have homeowners insurance. Lenders require all borrowers to have coverage for the life of their loans.

Whether you’re a new homeowner in Canton, Georgia, or an existing resident looking to switch providers to save money, we’d like to help you. Our team at Clovered made this guide to explain everything you should know to find the best homeowners insurance in Canton, including average rates, cost factors, and helpful coverage tips.

The average cost of homeowners insurance in Canton is about $1,625 annually, although rates will vary based on your property and policy details. Crucially, Canton’s average premiums come in well below Georgia’s average statewide rate of $2,166 yearly for home insurance.

A possible reason for Canton’s friendly premiums is its inland location. Cities near the Atlantic coast in Georgia tend to have much higher insurance rates because of the increased chances of hurricane damage.

Perhaps the most notable factor in rates, though, is home value. Insurers use your home’s replacement cost, the amount of money needed to rebuild the house based on materials and labor costs. Houses with higher replacement costs require more insurance coverage, which raises rates.

Look at the table below, which lists average premiums in Canton based on dwelling coverage amounts based on home value.

Rates also vary by insurance company, so you won’t know your exact premiums until you get quotes. It’s essential to get multiple quotes when seeking coverage so you find the best deal.

Although rates will differ among companies, the protections you receive in your policy should remain the same at all times. All policies include the same coverages for your property and liability as follows.

The largest homeowners insurance companies in Georgia are State Farm, Allstate, and USAA, but the best coverage may not come from these carriers. The best homeowners insurance in Canton will vary by person based on coverage needs, budget, and personal preference. There is no best company choice for all people because every policyholder varies. Insurance is nuanced, and you should customize your plan to make it the best for your circumstances.

Watch your coverage amounts. For example, your dwelling coverage amount is required to be at least 80% of your home’s replacement cost, but you can increase your dwelling limit to 100% or more if desired. It will cost more but may pay off in case of a total rebuild. See what your comfortable with in your budget.

You can easily adjust your personal property coverage limit, also. We recommend conducting a home inventory to determine the exact value of your possessions. Then, you can set your personal property limit to the precise number you need. This will prevent you from either underinsuring yourself or overpaying for unneeded personal property coverage by setting a limit that’s too high.

You can also easily adjust your liability and medical payments coverage amounts with minor effects on your overall premiums. It’s always wise to opt for more liability coverage to be safe, as medical bills and legal fees after a potential accident can get very costly very quickly. Most insurers recommend at least $300,000 in liability coverage, but you may want to raise your liability limit to $500,000 or more on your home insurance in Canton.

You should also recognize how your policy covers you so you can tune this to your needs, as well. For example, companies typically cover damage one of two ways: actual cash value or replacement cost.

Actual cash value coverage in Canton home insurance includes depreciation for property damage, usually stolen or destroyed items. When your insurer reimburses you at actual cash value, it will factor in depreciation, lowering your payout the older the item is.

Replacement cost coverage, on the other hand, means your insurer will reimburse you for either what you paid for an item or its fair market value to replace it exactly. It provides better payouts but costs more than actual cash value coverage. Note when they apply in your policy and, if you have the choice, choose the option that works better with your budget and needs.

You can also look into endorsements to add optional coverage for items or perils that aren’t covered by default. Endorsement options and costs vary by company, so be sure to ask about them and any other questions on things you’re unsure of when quoting.

Major storms can bring flooding to the Canton area, which is important to note because homeowners insurance doesn’t cover flood damage. You may want to consider a separate flood insurance policy.

Unfortunately, no home is totally safe from flooding. According to the Federal Emergency Management Agency (FEMA), virtually every county in the nation has been affected by a flooding event within the last three decades. Additionally, FEMA reports that over 20% of its flood insurance claims through the National Flood Insurance Program come from properties outside designated high-risk flood zones.

The NFIP is the country’s largest flood insurer, but a growing number of private flood insurance companies are entering the market that may offer competitive rates and certain other advantages, like increased flexibility and coverage limits.

If you’re considering flood insurance in Canton, our team at Clovered can answer questions you may have and help you find the best policy for your situation either online or over the phone.

Homeowners insurance in Canton, Georgia, ranges from $1,180 to $2,360 yearly for most people. Where you fall in this range depends on several factors relating to your property and your personal characteristics as a policyholder. Some of the biggest considerations include:

Home Features: Certain home features can raise premiums, like pools, trampolines, and playground equipment. They increase your liability risk. Meanwhile, security systems, deadbolt locks, and SMART home systems can earn you discounts. 

Home Construction: Companies assess many aspects of your home’s construction, including building materials, roof type, and foundation type. Also, getting and passing a wind mitigation inspection will earn you notable premium discounts.

Policy Limits: Opting for higher coverage limits and adding endorsements to your plan will increase costs of property insurance in Canton. On the other hand, raising your deductible and qualifying for discounts will lower rates.

Claims History: Insurers typically ask if you’ve filed any claims in the past three to five years. Companies believe someone who has filed in the recent past is more likely to file again than someone who never has and often charge them higher premiums.

Location: Properties in damage-prone areas, like flood zones or high-crime neighborhoods, may have higher premiums. Conversely, companies offer discounts for living near a fire hydrant.

If you need home insurance quotes in Canton, our team at Clovered is happy to help. We’re an independent insurance agency partnering with several of Georgia’s top providers.

You can use our online quoting platform to compare rates for your property and purchase coverage online. If you need help, our agents are only a click away.

Or, you can speak with our agents on the phone for the duration of your quote by calling 833-255-4117 during business hours. You can also email us with any questions at [email protected].