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Updated February 28, 2022
Savannah, GA Homeowners Insurance
The oldest city in Georgia, Savannah was named after the Savannah River in 1733. Today, Savannah is the fifth-largest city in the Peach State, with around 150,000 people. Full of Southern charm and colonial history, the enchanting city offers plenty of art, period architecture, and trendy boutiques. Located on the East Coast, it offers an escape to an almost tropical climate with long summers and short, mild winters. For those who prefer larger cities, it is still less than a four-hour drive to Atlanta, the state’s capital and home of Hartsfield-Jackson Atlanta International Airport, which is a major hub and connection to global cities.
It’s no wonder why the population is on the rise in this vibrant Southern city. On average, Georgia ’s home policies are less expensive compared to other places in the United States. With a lower cost of living and the perks of a semi-coastal city, in addition to more prospects for job-seekers, Savannah is a fantastic option for new homeowners or people looking for a change. There is a major student population, with students enjoying the city’s culture and opportunities post-graduation. It is more than a college town, though, with many administrative workers contributing to the local economy.
If you’re looking for your first homeowners policy or searching for savings, Insurify’s comparison tools make your home insurance search quick and easy. Compare home insurance quotes in Savannah to find great coverage options that fit your needs.
Cheapest Home Insurance Companies in Savannah
For homeowners in Savannah, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Savannah. The following are the best insurance rates from carriers that offer homeowners insurance in Savannah.
|Cheapest Companies||Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
How to Find Cheap Home Insurance in Savannah
Buying a home may be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment.
The first step to protecting your property is purchasing homeowners insurance through an insurance company. Though not required by law, home insurance provides financial liability for your property and personal belongings from property damage, natural disasters, and theft. Different coverage levels are available and will vary for different property types, your area, the amount of your deductible, and other factors.
Coverage levels exist for every corner of the United States, and the cost of homeowners insurance can differ depending on the type of home, your insurance needs, the ZIP code, and more.
Keep reading for a full guide on Savannah home insurance.
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Cheapest Home Insurance in Savannah by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in Savannah costs $2,673 annually, and the median home value is $196,051. Georgia ranks as the 18th most expensive premium in the United States.
While the premium is right around the national average, Savannah ’s housing expenses are 33 percent lower than average, with the cost of living a bit more affordable than other cities in the United States. Transportation expenses, like bus fares and gas prices, tend to be a little lower as well, although utility prices tend to run a bit higher. These are considerable pros for living in a larger, medium-sized city on the East Coast.
|Average Home Cost in Savannah The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.||Average Annual Insurance Premium in Savannah The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
Average Annual Home Insurance Premium in Savannah by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Savannah for Home Insurance
When searching for your Savannah home, you may have noticed that housing costs can vary depending on which neighborhood you’re looking to live in. The same applies to property insurance and car insurance rates. If you’re living in Bloomingdale, you can expect to pay lower premiums than homeowners in the Savannah Historic or Victorian District.
Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Home insurance rates are based on your ZIP code, so if your neighborhood has higher crime rates or is at higher risk for natural disasters, you’ll be left paying higher premiums. Even your neighborhood’s home values and the number of insurance claims filed nearby can affect the cost of your individual homeowners policy. We recommend contacting an insurance agent or using Insurify to look up the best homeowners insurance companies that fit what you’re looking for.
Rates in Savannah can be relatively high or low compared to the national average; it all depends on which area you live in.
Home Insurance Coverage Types in Savannah
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
Protecting Your Home from Tornado Damage
While Georgia typically experiences warm weather throughout the year, Savannah has a mild and enjoyable, almost tropical, climate due to its proximity to the Atlantic. It is important to note, though, that tornadoes may occur in the Peach State. With high winds and potentially heavy rainfall, it may be worth considering getting a policy that provides coverage for tornado damage or looking into flood insurance through the National Flood Insurance Program.
Obtaining extra coverage is one way to protect your home, personal belongings, and other investments from damage caused by natural disasters. On average, Georgia gets hit by around 30 tornadoes per year, but the main cause of disasters is severe storms. Living in zones more prone to natural disasters can raise homeowners insurance rates, but Savannah is not prone to these, so real estate values are relatively affordable compared to more expensive coastal areas in the United States. While these insurance policies may be an additional cost, purchasing one will still help you save money on costly repairs in the long run.
Property Crime Rates in Savannah
Savannah ’s property crime rate is lower than the state’s average. The chances of being a victim of property crime are 1 in 44, and it is important to be conscious that these crimes, such as vandalism or burglary, can put you, your home, and your belongings in danger. Purchasing home insurance as a renter or owner can help ease your mind, knowing that you will be compensated for a burglary or any property damage.
If you’re looking to move to the charming Southern city and break into Savannah ’s housing market but still have questions, check out the frequently asked questions (FAQ) below!
How to Find the Cheapest Home Insurance in Savannah
Savannah’s real estate and home insurance policies are very typical compared to the U.S. average, but it offers a warm climate, Georgian history, and proximity to both the Atlantic coast and the metropolis of Atlanta. You can cut costs and have the best of both beachy vibes and Southern charm by comparing home insurance policies before clicking “buy” on the first policy you’re offered.
Use Insurify to compare free quotes for home insurance premiums for your property in Savannah, Georgia.
Frequently Asked Questions
With bundling, you can combine home insurance and auto insurance to save money with multi-policy discounts from a single insurance provider. Bundling can also include life insurance, renters insurance, and other products. Talk to your insurance agent for more information and deals.
Allstate is a leading home insurance company and has received some of the highest ratings available from J.D. Power. On average, its annual premium for a $250,000 dwelling runs a bit higher than Savannah’s average of around $1,200.
The cost of homeowner insurance will vary, depending on several factors. This can include the value and location of your home, the value of your personal belongings, the insurance products, how much liability coverage you select, and more.
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