How much is homeowners insurance in Georgia?
Homeowners insurance in Georgia costs an average of $247 per month, ranging from an average of $143 through insurance providers like Grange to $678 through insurers like Safeco. But your quote will rely on several factors, including your home’s location, the type of coverage you choose, and whether you have a high or low deductible.
Check Out: How Much Does Homeowners Insurance Cost?
How your policy choices affect home insurance rates in Georgia
Of the five policy forms offered to owners of single-family homes, the Special Form policy, or HO-3, is the most common. This form offers open-perils coverage for your home and named-peril coverage for your possessions.
Each policy form will generally cover perils differently. What is and isn’t covered may influence the price of your home insurance policy. Each homeowners policy form covers perils differently; some policies name specific perils, while others cover everything not specifically excluded from coverage.
For example, an HO-1 covers only 11 basic perils, while an HO-2 covers listed perils. An HO-5 expands upon the basic HO-3 to cover everything that’s not specifically excluded. Typically, the higher amount of peril coverage, the more expensive your premium will be.[6]
You should always confirm which perils your home insurance policy covers prior to purchase. It’s also a good idea to specifically ask if perils like storm damage are fully covered. Keep in mind that some states require separate deductibles for wind and hurricane damages.
Learn More: How to Prepare Your Homeowners Insurance for a Hurricane Claim
Your coverage level
Your homeowners coverage level is one of the biggest influences on your monthly premium. Aside from needing the minimum coverage required by your mortgage lender, you have the option of increasing or opting out of certain coverages.
For example, if a mortgage lender requires an actual cash value insurance policy, you can decide to increase your protection and take out a replacement cost policy, which will increase your premiums. When considering optional coverages like flood insurance, you can choose not to purchase it and minimize premium expenses.
Your deductible
Homeowners should plan for two out-of-pocket costs when choosing a plan: monthly premiums and deductibles. The deductible is a set amount that you must pay when filing a claim before your insurer will pay any damage costs. Your home insurance deductible may be $250 or $500, and in many cases, you can choose whether to set the deductible at a minimum or maximum amount.
Lower deductibles usually lead to high insurance premiums because you’re asking for the insurer to pay as much as possible in the event of a claim. However, choosing a higher deductible can lower your premiums because you’re electing to absorb more of the costs when filing a claim.
How location affects home insurance rates in Georgia
Insurance rates vary across the country. For example, although Georgia and South Carolina border each other, Georgia has a higher average monthly cost than South Carolina. Even different ZIP codes within the same state can yield different home insurance quotes.
Quotes may vary for a number of reasons, including:
Homes in northern Georgia are more at risk from winter storm damage than homes in southern Georgia.
Major metropolitan areas, like Atlanta, tend to have higher instances of reported burglaries than other cities in Georgia.
Georgia has thousands of privately owned dams, which can fail with little warning and create flash floods. This is in addition to many counties already at a flood risk due to heavy thunderstorms.
City | Average Monthly Quote |
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Atlanta | $253 |
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Calhoun | $288 |
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Fayetteville | $203 |
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Grayson | $372 |
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Statesboro | $231 |
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Table data sourced from real-time quotes from Insurify's partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique profile.