Homeowners Insurance in Columbus, Georgia

Home insurance rates in Columbus, Georgia’s second-largest city, are about 11% below the overall average state rate. This is good news for first-time house hunters or existing homeowners looking for a different carrier.

Use this guide to aid you in your search for homeowners insurance in Columbus. We take protection seriously, and we’ve laid out all the facts you need to know.

The average homeowners insurance in Columbus costs about $1,929 annually, although rates vary due to home value, company, and many other factors.

Average premiums in Georgia statewide are about $2,166 yearly, so rates in Columbus are below the state average. One of the reasons for Columbus’ lower rate is its inland location. Home insurance costs are higher in coastal areas where the chances of hurricane damage are greater.

Another critical aspect of insurance premiums is your home’s value. Companies calculate your home’s replacement cost, which is the cost to rebuild your house from scratch based on construction and materials needed.

Larger, nicer houses have higher insurance costs because they need more insurance coverage. Look at the trend in the following table.

Based on our findings, the average replacement cost in Columbus is about $270,000. Many factors besides your home’s value influence rates; we’ll review them in-depth later.

There are a few different types of home insurance plans. The most common type purchased and the one people typically refer to when discussing homeowners insurance is the HO3 policy form. All HO3 policies contain the same coverages, generally divided into six areas.

All HO3 policies cover you from over a dozen possible sources of damage called perils. Some typical perils include fires, theft, hurricanes, and water damage.

The best homeowners insurance in Columbus covers your property and liability sufficiently at a price you can afford. Ideal coverage will vary by person since every home and policyholder is different. 

As long as you find a good price, you can suit any policy to your needs to make it the best for your situation. Acquiring the best coverage may involve adjusting your policy limits or adding endorsements to increase protection.

Each coverage section of your Columbus home insurance policy has a maximum payout called a limit. If you file a claim, the limit is the most money you can receive for that corresponding damage. You’re responsible for setting your policy limits in most cases. You want to ensure your policy limits encompass your property’s value so you can be fully reimbursed during a major claim.

We recommend creating a home inventory that catalogs all your belongings and their values to determine the precise amount of personal property coverage you need. You can set your personal property limit to the total worth of your possessions. We also suggest liability limits high enough to guard your assets. Limits between $300,000 and $500,000 are sufficient for most people, but you can raise your coverage amount up to $1 million for a relatively minimal increase in premiums.

You can set your dwelling limit to between 80% and 100% of your property’s replacement cost. Some carriers offer extended replacement cost exceeding 100% of the dwelling value to account for possible unexpected rebuilding costs, but this will raise your premiums notably.

You can add coverage to your policy to expand protection for certain items or perils not included by default. Endorsements cost extra, but you should consider them based on the coverage needs of your property. Some common endorsements include:

Scheduled Personal Property Coverage: Increases protection for valuables like jewelry, art, and memorabilia. These items are typically only covered up to $2,500 or $5,000 under default coverage limits. So, if you have especially expensive ones, you can schedule them for total protection.

Water Backup Coverage: Adds coverage for water that can back up from a sewer, drain, or sump pump, which is normally excluded under standard coverage.

Ordinance or Law Coverage: Adds financial protection if undamaged areas of your home need to be brought up to code during rebuild or repairs to match the new construction. Older homes may need further renovations to comply with modern building codes, which aren’t covered by default but can be with ordinance or law coverage.

Perhaps the most critical part of finding the best coverage is securing the best price. Everyone wants to save money on home insurance. The best ways to lower your premiums include raising your deductible and comparing quotes from several companies.

Your deductible is the amount of money you must pay during a claim before your insurer foots the rest of the damage bill. You choose your deductible when quoting. They typically range from $500 to $2,000.

Choosing a deductible on the higher end of the range puts your insurer at a lower financial risk, which lowers your monthly premiums. It also makes you responsible for paying more out of pocket, so strike a balance with the deductible you choose and what you can afford in case of a claim.

Shopping around is the most proven way to save money on home insurance in Columbus. Every company has different business needs and underwriting strategies that yield different rates for similar coverage. So, find the company with the lowest price by comparing multiple on your search.

You should also note differences in endorsements, discounts, and customer service while shopping. Find the company that’s the best fit for you. You can also enlist the help of a Columbus home insurance agency to compare your options.

An alarming number of homeowners don’t realize that their home insurance plan doesn’t cover flood damage. Flooding is always excluded from coverage, and you need a separate flood insurance policy if you’re concerned about the dangers of flooding.

Flooding is more common than you might realize. The Federal Emergency Management Agency (FEMA) reports that every county in the nation has experienced a flooding event in the past three decades.

Flooding in Columbus is typically caused by heavy rainfall and thunderstorms. The city website reports that properties near Bull Creek and the Chattahoochee River may be prone to flood damage.

Consider a policy from the National Flood Insurance Program administered by FEMA. Columbus residents are eligible for up to a 10% discount on flood insurance plans depending on flood zone due to the city’s cooperation with FEMA guidelines.

Private flood insurance is also growing in popularity, and you may want to shop around and see if you get a better rate from a private carrier instead of FEMA.

Columbus home insurance ranges from $1,428 to $2,856 annually. Insurance companies determine rates through underwriting, a meticulous process in which carriers examine many aspects of you and your property to assess the chances of property damage or a claim arising.

People or places with a higher likelihood of filing a claim will have higher insurance premiums. Some of the most essential factors determining home insurance rates in Columbus include:

Home Age: Older houses are generally more prone to damage and have higher insurance premiums. Dated components, such as roofs and pipes, are more likely to fail during weather events or suffer from wear and tear that can damage property. As a result, insurers tend to charge higher premiums on older homes.

Home Construction: Companies are interested in several aspects of how your home was built, as it affects the likelihood of property damage. For instance, brick or concrete houses withstand wind and fire damage better than wooden frame homes and often have lower insurance rates. 

Home Features: Certain factors within your house can also affect premiums. For instance, having a pool, trampoline, or playground equipment on your property increases your liability risk and raises rates at most insurers. Conversely, security systems or deadbolt locks can qualify you for discounts.

Claims History: Providers ask if you’ve filed claims in the recent past. Insurance companies see someone who has filed multiple claims as a higher risk to cover and often charge them higher Columbus property insurance premiums.

While no law requires home insurance in Columbus, you’ll be mandated to have coverage if you have a mortgage. Lenders stipulate homeowners insurance as a condition of all home loans.

Lenders require home insurance to protect their investment in your home. If you don’t find your own coverage or let your policy lapse during your mortgage, your lender will force insurance on you. 

Force-placed insurance is more costly and less protective than standard coverage you can get on your own. For example, it may not include liability or loss of use coverage. Since it’s your lender’s choice, they choose an option that benefits them and not you.

We recommend avoiding force-placed insurance at all times. Take the time to find the right property insurance in Columbus, and ensure you make your policy payments on time.

You need an insurance policy that covers you wholly, providing peace of mind and financial security at all times. You should always compare multiple home insurance quotes in Columbus to find the best plan for your needs.

We’re Clovered, an independent insurance agency partnering with several of the top home insurance companies in Columbus. Established in 2018 as a consumer-friendly option, we’ve helped tens of thousands get quotes and maintain coverage for all their property insurance needs.

Feel free to compare your options online with our online quoting tool. All it takes is a few minutes to input some information about yourself and your home to receive home insurance quotes in Columbus entirely online.

Or, if you’d rather speak to a licensed agent for your insurance needs, don’t hesitate to call us at  833-255-4117 during business hours. You can also email us at [email protected].