Best Renters Insurance in Georgia (2024)
Renters insurance is easy to find and relatively affordable in Georgia, at an average of $22 per month.
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Written byKim Porter
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Co-authored the book “Future Millionaires’ Guidebook”
13 years writing personal finance content
A former chief copy editor at Bankrate and past managing editor at Macmillan, Kim specializes in writing easy-to-understand, actionable personal finance content.
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Edited byChris Schafer
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15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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Updated October 25, 2024
Reading time: 4 minutes
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Table of contents
When you rent a home, your landlord’s insurance policy covers the building itself.[1] But you’ll need renters insurance to financially protect your belongings, safeguard against liability claims, and pay for temporary housing if your rental unit is unlivable after a covered loss.[2]
Renters insurance in Georgia costs about $22 per month, on average, or $261 per year. But you should consider more than just price. Here’s what else you need to know about renters insurance in Georgia.
Quick Facts
Georgia law doesn’t require renters insurance, but your landlord may require you to buy it.
Some insurance companies may also refer to renters insurance as tenants insurance or apartment insurance.
American Family, Travelers, and Allstate offer some of the best renters insurance policies in Georgia.
How renters insurance works in Georgia
If you rent a home in Georgia, you can buy a renters insurance policy from any licensed insurer that sells coverage in the state. A basic renters policy covers your personal items, pays for legal fees and medical expenses associated with liability claims, and reimburses you for additional living expenses (ALE) if you need to relocate temporarily after a covered event.
Renters insurance policies don’t cover structural property damage repairs because your landlord is responsible for maintaining the property.
Factors like your location, the amount of coverage you buy, your residence type, your credit-based insurance score, and more influence the price you pay for renters insurance.
When you have to file a claim, you’ll first need to think about your deductible. This is the amount of a claim that you’re responsible for. For instance, let’s say you submit a claim for $1,500 for a stolen laptop, and your deductible is $250. If your insurance company approves your claim, you’ll receive $1,250 (the cost of the laptop minus your deductible).
Best renters insurance companies in Georgia
You can find the best renters insurance policy for you by comparing offers from multiple companies to see which one best fits your situation. Next, look for discounts. Retirees, military members, and safe drivers may all qualify for unique savings options.
Allstate offers a 25% discount for retired renters who are 55 and older, while American Family has a lucrative discount of up to 23% when customers bundle home and auto insurance. And USAA, which consistently receives excellent customer service ratings, is available to military members, veterans, and their family members.
The following table shows you the best renters insurance companies in Georgia and who could be a good fit for each.
Insurance Company ▲▼ | Average Monthly Premium ▲▼ | Best For ▲▼ |
|---|---|---|
| American Family | $15 | Bundling auto and home insurance |
| Travelers | $17 | Renters who alter or improve their units |
| Progressive | $17 | App-based policy management |
| Allstate | $17 | Retired renters |
| USAA | $18 | Military families |
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What renters insurance covers in Georgia
Standard renters insurance policies in Georgia include three types of protection:
Personal property
Personal property coverage pays to repair or replace your belongings up to your chosen coverage limits. You may raise or lower that limit based on your situation. For example, if you have limited possessions, you’ll likely buy less insurance coverage than someone with expensive belongings, high-end furniture, or electronics.
Liability insurance
Liability coverage pays for legal costs and medical bills if someone injures themselves in your home or on your property. It also covers you if you accidentally damage another person’s property.
Additional living expenses (ALE)
Loss of use coverage reimburses you for costs like hotel bills and restaurant meals if your home is temporarily unlivable after a covered event.
These basic coverages can protect you financially against perils common to Georgia, including wildfires and severe weather. You can also choose to increase your coverage amounts or buy additional coverage for natural disasters like floods.
Unique considerations for renters insurance in Georgia
Renters insurance coverage is especially important in Georgia because of common risks in the area. Here are special considerations for renters in Georgia:
Windstorms: Almost two dozen hurricanes have made landfall in the Peach State since 1851, and many more have affected the area indirectly.[3] Tornadoes have frequently affected the state, as well. A standard renters insurance policy covers structural damage that results from windstorms, including hurricanes and tornadoes. Before buying coverage, check whether the policy requires a separate deductible for these events.
Flooding: Renters insurance policies don’t cover flood damage that can result from a covered event, such as a hurricane. But you can buy a separate flood insurance policy for additional protection.
Wildfires: Standard renters insurance policies pay to replace your personal belongings if they’re damaged in a wildfire. And if your policy includes additional living expenses, it reimburses you for lodging expenses when a covered disaster like a fire leaves your home uninhabitable.
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How to save on renters insurance in Georgia
The cost of renters insurance in Georgia is relatively affordable, but it’s still slightly higher than the national average of $19 per month. Georgia residents can use the following strategies to get the best deal:
Ask for a discount
Your insurance company may offer several discounts to help lower your premium. For instance, you could save money by bundling renters insurance with auto insurance and installing a security system (if your landlord allows it).
Increase your deductible
A higher deductible amount usually helps lower your renters insurance premium. But you’ll need to be sure you can cover the cost of it if you file a claim.
Shop around
Every insurance company has a different way of determining premiums. When you get renters insurance quotes from multiple insurers, you can compare options across the industry to find affordable coverage.
Insure high-value items separately
You can get personal property coverage through renters insurance that covers expensive items in your rental property. But you could tap into lower rates if you insure big-ticket items, like artwork or an engagement ring, separately.
Renters insurance in Georgia FAQs
The following information may answer some of your lingering questions about renters insurance in Georgia.
What is the average cost of renters insurance in Georgia?
Georgia renters insurance costs $22 per month on average, or about $261 per year. This is slightly higher than the national average of $19 per month.
Is renters insurance required in Georgia?
No. Renters insurance isn’t a legal requirement, although landlords may require you to carry coverage as part of your lease.
How much renters insurance do you need in Georgia?
The right coverage options and limits for you will depend on your situation. You can create a home inventory to figure out how much personal property coverage you need and calculate your net worth when choosing your liability coverage limits. Depending on where you live in Georgia, you might also consider adding flood insurance to protect against the possibility of damage.
How do you file a claim for renters insurance in Georgia?
Start by making a list of damaged items and taking pictures of them. Then, file a police report if necessary, and let your landlord know what happened. Then, contact your insurance company to file a claim. You’ll need to provide information about what happened, upload the inventory of your damaged items, and take notes on correspondence related to the incident.
Sources
- Georgia Insurance and Fire Safety Commissioner. "CONSUMER GUIDE FOR HOMEOWNERS INSURANCE."
- Insurance Information Institute. "Renters Insurance."
- Atlantic Oceanographic and Meteorological Laboratory. "Hurricane Records & Ranks."
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Kim Porter
Kim Porter is a writer and editor who's been creating personal finance content since 2010. Before transitioning to full-time freelance writing in 2018, Kim was the chief copy editor at Bankrate, a managing editor at Macmillan, and co-author of the personal finance book "Future Millionaires' Guidebook." Her work has appeared in AARP's print magazine and on sites such as U.S. News & World Report, Fortune, NextAdvisor, Credit Karma, and more. Kim loves to bake and exercise in her free time, and she plans to run a half marathon on each continent.
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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