On average, your neighbors pay $91 a month.See Your Rates
If you’ve got Georgia on your mind, you’re probably thinking about peaches too. However, the home of Coca-Cola and Ray Charles also offers some homeowners insurance risks to keep in mind.
How much is home insurance in Georgia? Georgia is below the national average when it comes to homeowners insurance rates. The average cost of homeowners insurance in the state of Georgia was $1,152. That's slightly lower than the national average of $1,173. There are 19 states that have higher average home insurance rates than Georgia.
|Georgia Annual Average||$1,044||$1,089||$1,152|
|Georgia Price Per Month||$87||$91||$81|
|US Annual Average||$1,034||$1,096||$1,173|
|US Cost Per Month||$91||$94||$96|
|Source: Facts + Statistics: Homeowners insurance|
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.
Choosing a homeowners insurance company in Georgia should be easier. Actually, it’s already easy. The key to finding the best rates is to compare home insurance quotes in Georgia from multiple companies.
Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Georgia. Out of the 34,140 Georgia homeowners that used QuoteWizard to request insurance quotes last year, 1,564 had no home insurance.
The above list shows Georgia’s most popular home insurers according to our users. But popular doesn’t always mean best.
Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:
|Rank||Company||Financial Rating||Market Share|
|5||GA Farm Bureau Mutual Insurance||A||5.4%|
|7||United Property & Casualty||A||3.5%|
There are several factors that companies consider while deciding your rates. Some factors, like roof maintenance and coverage levels, are up to you. Other factors, like natural disasters, are out of your control. Here are some of the factors that affect the cost of homeowners insurance in Georgia.
Homeowners insurance rates vary depending on the house itself. These are the main factors that influence your house's insurance rates:
The more claims you file, the higher your rates are. Home insurance claims stay on your record for five to seven years. And if you file additional claims during that time, your prices could skyrocket. That’s why homeowners avoid filing unnecessary claims, especially within the span of a few years.
Your furry family member could influence your home insurance rates. Exotic pets and high-risk dog breeds can raise your insurance premiums. You may even have a hard time finding a company to insure your home to begin with. According to a study by AVMA, Georgia ranks 33rd in the country regarding pet ownership.
Another factor in your insurance premiums is your credit score. Companies will look at your credit score to determine your rates. People with bad credit scores pay more for homeowners insurance. And, unfortunately, Georgia has the third worst average credit score in the nation.
Georgia is the 22nd most natural disaster-prone state in the country. Areas with a high risk for natural disasters face higher insurance rates. Weather varies depending on where in Georgia you live, and so does the risk of natural disasters. If you live in Atlanta, for example, make sure you purchase flood insurance. And don’t assume that home insurance includes flood coverage – it doesn’t.
No matter where in Georgia you live, there’s a chance you’ll experience one of these natural disasters:
According to Ready Georgia, there are steps you can take to prepare your home for a natural disaster.
Burglary rates play a big role in determining how much you’ll pay for homeowners insurance. Areas with high property crime rates pay more for homeowners insurance. GA has the 13th highest property crime rate in America. In 2017, the average property crime rate in your state was 2,860.2 per 100,000 residents.
GA crime rates vary quite a bit depending on where in the state you live. For example, Atlanta has an average of 56.45 property crimes annually per 1,000 residents. Athens, on the other hand, has an average of 35.8 property crimes annually per 1,000 residents.
Like natural disasters, there are steps you can take to prevent property crime in your home. These include adding security cameras, alarms, deadbolt locks, and more. Not only does that make your house safer, but it can also help you earn an insurance discount.
Types of Home Insurance Policies
As a homeowner, you have several insurance options when shopping for coverage. In GA, you can choose from these policy types:
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