Compare Home Insurance in Atlanta
Do you own home in Atlanta, Georgia? Are you house shopping in Atlanta? Have you wondered what causes your home insurance rates to fluctuate?
Housing prices are increasing in Atlanta, GA. There’s been seven percent increase in the median price of an Atlanta home. John Rainey, vice president of Re/Max Georgia, says “The market clearly favors sellers, who will benefit from strong buyer demand and rising prices.”
Home insurance cost usually increases alongside housing prices. With Atlanta’s fast growth picking up steam, home insurance rates in the area are rising. It’s more important than ever to get the best deal on Atlanta homeowners insurance.
Average Atlanta Home Insurance Rates
How much is home insurance in Atlanta? By collecting data from almost 1,300 QuoteWizard users in Atlanta, we created this 'average' home:
- 2,536 square foot home built in 1982
- One story
- 4 bedrooms and 3 bathrooms
- Composite shingle roof
- Deadbolt locks
- Fire extinguishers
Using this home, we got quotes for home insurance from top companies in Atlanta. Remember, home insurance depends on your needs and your home. Your policy price may vary from our ‘average’ home. Below is the average rate for an Atlanta homeowners insurance policy:
The graph below shows the change in average Georgia home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Georgia homeowners insurance rates increased from $906 in 2011 to $1,152 in 2015, a jump of $246 dollars, or 27.15 percent.
QuoteWizard helps consumers compare quotes from both national insurance companies and local agents. QuoteWizard can help you find affordable home insurance rates near Atlanta, Georgia.
Last year, many people used QuoteWizard to compare compare home insurance quotes in Atlanta, GA from multiple companies.
Best Home Insurance Companies in Atlanta, GA
Most Popular Companies
Among QuoteWizard users, these are the most popular insurance companies in Atlanta:
- State Farm
- Liberty Mutual
- Country Financial
Best Insurance Companies
The above list shows the most popular home insurers in Atlanta according to our users. But popular doesn’t always mean best.
Our study on the best homeowners insurance rates focuses on top of the line companies. In no particular order, these companies stand out among the rest:
- Amica: Best Overall
- MetLife: Best for Bundling
- Allstate: Best for Local Agents
- Hartford: Best for Seniors
- State Farm: Best for Pet Owners
- Travelers: Best for Flexible Policies
- Nationwide: Best Replacement Coverage
- Farmers: Best for Eco-Friendly Homes
- Liberty Mutual: Best for Quick and Easy Quotes
- Auto Owners Insurance: Best Claims Experience
Atlanta Home Insurance Rate Factors
Insurers take a variety of factors into consideration when calculating your home insurance policy. Many of these factors are out of your control. But proper planning and research could save you money. Below are the most common components used in deciding your insurance rates:
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- Your home's age: The older your home, the more likely it is to sustain damage overtime. Common problems facing old houses include poor foundations, faulty wiring, out-of-date appliances, and building code violations. For this reason, older homes, can increase your home insurance rates. But this isn’t necessarily a big problem in Atlanta. The average Atlanta house was built in 1982, which is relatively new for a home.
- Previous claims: Your claim history plays a major role in determining the price of your insurance coverage. It’s no secret that filing claims impacts your insurance rates. Even one claim can raise the price of your policy. If you have filed several claims, insurers may label you as high risk. Insurers charge more to cover high-risk individuals, and in some cases they’ll deny coverage. It’s also possible that claims filed by your home’s previous owner can hurt your rates. A house with several previous claims is more likely to have additional claims filed in the future.
- Proximity to emergency services: The closer you live to a fire station, the easier it is for first-responders to help you in case of an emergency. In the event of a fire, proximity to a fire-station is a major factor in the extent of damages to your home. Insurers will charge higher premiums to homes located farther away from fire stations. Fortunately, in 2014 Atlanta received a Fire Protection Class Rating 1 from the Insurance Services Office. This is the best possible rating, which is great for Atlanta homeowners insurance rates.
- Natural disasters: Insurance companies charge more for homes in disaster-prone areas. Fortunately, Atlanta escapes most of the hurricanes that pester several southern-states. But Georgia faces hurricanes, tornadoes, severe storms, floods and occasional wildfires. Even with that in mind, Atlanta’s home insurance rates aren’t impacted by natural disasters like cities in Florida, for example.
- Coverage amounts: A standard policy that covers the basics is a good option if you are looking to save on your premium. Your coverage amounts are a big factor behind the price of your home insurance policy. The more coverage you buy, the more your home insurance premium costs. But being underinsured means extra out-of-pocket costs if something happensseriousl to your home. While it’s great to save on your monthly premium, you might end up spending those savings and more when filing a claim.
- Home security and crime: Crime rates in your area takes a serious toll on your home insurance rates – especially property crime. In 2017, Atlanta was ranked the 6th most dangerous city in the United States. Atlanta residents reported a total of 25,556 property crimes in 2015. This means you have a 1 in 19 chance of becoming a victim to property crime. Due to the high crime rate, Atlanta homeowners can expect to pay higher home insurance premiums. However, crime rates vary depending on your neighborhood, and your insurance company will account for that. Regardless, there are several steps you can take to lower your premiums by making your home more secure.
- Credit history: Insurers use your credit score to see how likely you are to pay your monthly premium. For this reason, people with bad credit can expect to pay more for homeowners insurance. Credit history could prove to be a problem for Atlanta residents. Of 100 metropolitan cities for credit score rankings, Atlanta was ranked 66th. The city’s average credit score of 654 is not great. Credit scoring by insurers is a controversial practice, but it’s a reality for 85 percent of home insurance shoppers.
Types of Homeowners Insurance
These are the most common forms of homeowners insurance:
- HO-1: Basic insurance that covers standard damages.
- HO-2: Broad homeowner’s insurance that covers everything in HO-1. But adds falling objects and damages to AC units, pipes, and other household systems.
- HO-3: Covers damage from all peris unless they are specifically excluded. Also covers unattached structures and liability.
- HO-4: Provides belongings and liability coverage for renters.
- HO-5: Comprehensive policy like HO-3 but with expanded coverage and less limitations for property claims. This is a premium policy.
- HO-6: Covers possessions and provides liability for condo owners.
- HO-7: Similar coverage as HO-3, but for mobile homes.
- HO-8: Designed specifically for older homes, this policy provides similar coverage as HO-3. It can be tailored to suit the unique needs of older homes.
8 Ways to Save Money on Homeowners Insurance in Atlanta
There are many steps you can take to lower your home insurance premium. We have provided you with some tried and true ways to lower your Atlanta homeowners insurance premium:
- Secure your home: Like we said earlier, enhancing your home’s security can help you qualify for discounts. Technology is a great way to help stop potential disasters before they even happen. From security systems to smoke and carbon monoxide detectors, there are many ways to make your home safer.
- Shop around: It’s easy to find an insurance company and never look again. But if you don't see what else is out there you could be losing money. It’s common for insurers to raise your rates annually because they know finding a new insurer is a pain. Plus, each company offers different rates and discounts. Don’t leave money on the table -- compare quotes, and you could start saving today.
- Improve your credit score: Atlanta residents don’t have the best credit scores. But there is always room for improvement. Credit scores play a major part in everything we buy, and homeowners insurance is no different. Try paying your annual premium all at one time, paying off loans and credit card debt, and taking other steps to improve your credit score.
- Renovate: The age and condition of your home can raise your insurance rates. Old and decrepit homes cost more to insure. On the other hand, brand new and expensive homes aren’t cheap to insure, either. Beyond new roofs and smart technology, certain home improvement projects can help lower your premiums. Be aware that remodeling can increase your home's value, which can make your coverage levels inaccurate.
- Pick a good neighborhood: If you can afford to buy a house in an area with low crime rates, that’s great! Your home insurance rates will reflect it. Atlanta may have a very high crime rate, and avoiding crime isn’t always possible. But there are some neighborhoods in Atlanta that are safer than others. On top of that, adding security measures will help your home insurance rates.
- Avoid claims: As stated above, if you file multiple claims in a year your insurer may label you as a high-risk. Also, filing a claim causes your insurance premiums to jump. So always consider whether an incident is minor, and whether you need to file a claim.
- Raise your deductible: It’s simple: when your deductible rises, your premium goes down. Your deductible is the out-of-pocket costs you must first pay before insurance kicks in. Consider your personal needs and budget, and a higher deductible may work for you. But remember: though higher deductibles come with lower premiums, you’ll have more out-of-pocket costs in the event of a claim.
- Bundle: One of the fastest and easiest ways to save on insurance is to bundle multiple insurance policies. Just by simply bundling your home and auto insurance you can easily save up to 20 percent on your monthly premium.
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