UPDATED: MARCH 15, 2023 | 2 MIN READ
Buying a good renters insurance policy living in Georgia involves understanding what coverage is necessary. Georgia has many weather risks, including hurricanes, flooding, and tornadoes.
Georgia is one of the most expensive states to purchase renter’s insurance. But it doesn’t mean you can’t find an affordable plan to ensure you’re covered. Read on to discover where some of the best renters insurance coverage is in Georgia.
How Much is Renters Insurance Coverage in Georgia?
The average cost of a renters insurance policy in Georgia is $323 annually or $27 per month. Atlanta renter’s insurance average is slightly higher, around $359 annually.
Finding a cheap renters insurance quote depends on what your renters insurance covers. Here are some of Georgia’s best renters insurance companies by price, value, and service.
Cheap renters insurance companies in Georgia
Price is a significant factor in deciding where to buy your renters insurance policy. The cheapest renters insurance in the state comes from Lemonade. Their average cost is around $14 per month. You can save even more by bundling your renters insurance with Lemonade auto insurance.
State Farm Insurance and Travelers are also cheap coverage options. Their average cost is around $22-$23 per month. However, these prices can vary depending on the coverage you need.
Best insurance providers for customer service
Customer service is vital to people who want peace of mind with liability coverage. The best renters insurance company in Georgia with top-notch service is Amica.
Their ratings receive 5/5 stars, which is a perfect score. They also have a very low complaint index. Policies average around $29 per month. USAA is the only other insurance provider receiving 5/5 stars for service.
Best renters insurance coverage options in Georgia
Maybe the type of coverage options in Georgia is most important to you when searching for renters insurance. People with more complex needs than the average renter should look to Travelers Insurance.
Travelers have excellent coverage options and many additional personal property coverage needs. There are more choices to cover additional living expenses or personal liability. The average cost for a Travelers policy is $275 per year.
What Factors are Considered for Renters Insurance Rates?
There are many factors considered when determining the cost of renters insurance. Policyholders must know the risk factors involved where they live and how much is necessary to cover personal belongings. Below are some Georgia tenants’ risks and how a renters insurance policy can help.
Hurricanes and tropical storms
Hurricanes and tropical storms bring wind and water damage to buildings. In most cases, your Georgia renters insurance policy only covers one o the other.
Check the liability protection of your renters insurance policy. Most policies don’t cover flood damage. You may need a separate flood insurance policy for additional coverage.
Most renters policies cover wind damage due to tornadoes. But if your residence is near the coast, there may be a separate deductible for windstorm damage. You may want to check your landlord’s insurance for covered losses so you don’t have to pay out-of-pocket.
Insurance providers consider specific locations riskier. They may charge more for renters coverage in a high-crime area because you’re more likely to experience vandalism. For example, Savannah has a higher crime rate than Macon, so it has higher renters insurance premiums.
Also, if you’ve filed more claims in the past, your insurance provider may raise your premiums. And the more insurance needs you have it increases your costs.
Renters insurance discounts
To get the cheapest renters insurance policy available, inquire about discounts. Many insurance companies give you a discount for carrying your Georgia car insurance and renters insurance policies.
To save money, you can also increase your deductible, depending on your coverage limits. But remember, don’t short yourself so you can cover property damage or medical expenses if you need to file a claim.
Is A Renters Insurance Policy Necessary in Georgia?
You only need to purchase a renters insurance policy if your landlord requires it. There is no law in Georgia stating you must own a policy. However, there are some things to consider regarding renters coverage.
Renters insurance policy coverage
A renters insurance policy covers the following:
- Personal Property: Your personal belongings need protection. Consider experiencing a storm and losing some of your most valuable possessions. Without a policy, you don’t get to replace or repair those items quickly.
- Liability Coverage: This is coverage if a person becomes injured or someone on your policy causes damage. Liability protection covers legal fees and other property damages.
- Loss of Use: if you need to evacuate due to a hurricane or tropical storm, you should obtain loss of use coverage. It provides reimbursements for temporary housing and additional living expenses, including food, laundry, etc.
- Medical Protection: Your renters insurance coverage provides medical payments if a person is injured. It doesn’t cover your injuries, but if someone is hurt by you accidentally, the insurance policy has you covered.
What’s the right amount of coverage to get in Georgia?
The right amount of renters insurance coverage varies from person to person. Living in Georgia, you must consider weather risks and personal property costs. When you understand your coverage limits, you can choose a renters policy to fit the criteria.
How much is renters insurance in Georgia per month?
The cost varies depending on your location, insurance company, and coverage. The average price is around $27 per month in Georgia.
Is renters insurance mandatory in Georgia?
Renters insurance isn’t required by law in the state. But, some landlords may need you to have it, even if they have Georgia homeowners insurance. It’s also good to have some coverage to protect your personal property.
What is the average cost of renters insurance in the state of Georgia?
The average cost of renters insurance in Georgia is around $323 per year. It’s above the national average is about $215 annually. Georgia is the fourth-most expensive state for renters insurance.
Is the landlord allowed to charge renters insurance in GA?
Your landlord may ask you to obtain a renters insurance policy. Landlords who require Georgia renters insurance can charge you a fee for each month you don’t own an active policy.
What does renters insurance in Georgia cover?
Georgia renters insurance covers individuals if they have damage to their personal property. It could be a result of fire, theft, or vandalism. Standard renters insurance coverage includes liability, theft, medical expenses, and loss of use.
Finding Affordable Renters Insurance in Georgia
A renters insurance policy is worth it in Georgia if you can afford it. You never know when disaster may strike. Get a quote from several insurance providers to see where you can save money.
Research your coverage limits and understand your insurance needs. Consider bundling discounts if you combine your auto policy with your renters insurance. Choose a renters insurance company to work best for you.