Georgia homeowners policies cover named perils, including theft and severe weather. You may need to buy separate earthquake, hurricane, or flood coverage.

Written by Bellina Gaskey

Reviewed by Melanie Reiff

Updated on Mar 23, 2023

Table of Contents

What is homeowners insurance?
Is homeowners insurance required in Georgia?
How to get homeowners insurance
Recommended home insurance coverage in Georgia
What makes homeowners insurance in Georgia expensive?
Homeowners insurance discounts in Georgia
How to save on home and auto insurance

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A smart homeowners insurance policy in

Georgia

will cover named perils like theft and vandalism alongside weather-related coverages for flooding and hurricanes. To find a reasonable rate, it’s best to compare quotes from multiple insurance providers.

For the majority of Americans, Georgians included, the largest portion of your equity lies in your home. But a house is more than a financial asset—it’s where you make memories with friends and family and, of course, a source of security and shelter.

It’s important to choose the appropriate

homeowners insurance

policy, but good coverage doesn’t have to cost a fortune. Here to explain what’s needed in a Georgia home insurance policy and how to find the best savings is the top-rated home and

car insurance

broker

Jerry

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What is homeowners insurance?

Homeowners insurance protects against financial losses you may incur from damage to your house or your property therein. A typical policy helps pay for replacing damaged property and personal liability claims.

The average cost of homeowners insurance in the United States is around $1,387 per year or about $116 per month.

Basic components of homeowners insurance

You can expect a homeowners insurance policy to include:

Coverage A (Structure): Covers the cost to repair or replace the actual house.

Coverage B (Additional structures): Covers the cost to repair or replace other parts of property, such as a trampoline, fence, or detached garage.

Coverage C (Personal property): Covers the cost of replacing or repairing personal items, such as jewelry, furniture, and electronics.

Coverage D (Additional expenses): Covers the cost of alternative living arrangements (e.g., a hotel or rental) if the house becomes uninhabitable due to damage or destruction.

Coverage E (Personal liability): Covers legal expenses and other requisite fees if someone is injured on your property (by a member of your household or an animal).

When you choose your policy, you can opt for either actual cash value (ACV) or replacement cost coverage.

Actual cash value gives you the current value of your items (taking into account depreciation), while replacement cost gives you the money you’d need to purchase a new item.

Many mortgage companies and financial institutions require homeowners to take out a policy that pays out at least 80% of the replacement cost of your items.

MORE: Home insurance terms you need to know

Named perils

Homeowners insurance isn’t unlimited in what it covers; policies operate off of a list of named perils that outline what circumstances will be covered.

Most policies will include the following named perils:

Fire

Lightning

Wind

Hail

Hurricanes

Damage caused by vehicles

Theft

Vandalism

Riots

Falling objects

Explosions

Always take the time to read your policy carefully, as only the perils explicitly listed will be covered. Riots and hurricanes especially may not be included in some policies.

Is homeowners insurance required in Georgia?

The state of Georgia does not mandate homeowners insurance, but if you’re taking out a mortgage or otherwise financing your home, most lenders and financial institutions will require you to have a homeowners policy for the duration of the loan.

That said, all homeowning Georgians are strongly encouraged to purchase a home insurance policy. Replacement costs and other fees associated with an emergency or the destruction of your home can be debilitating—it’s smart to pay a little upfront to get this protection for later.

How to get homeowners insurance

Whether it’s your first time buying a home or you’re looking to switch to a new policy, start by gathering and comparing quotes from multiple providers (

Jerry

can do all the work for you!).

It’s likely that the first quote you get won’t have the best coverage or most reasonable pricing, so take some time to shop around.

Always make sure you get a home insurance quote from your current car insurance provider, too. Their quote may not seem like the best one at first, but remember that you can bundle

home and auto

policies together to get anywhere between 5% and 25% off on each policy.

Recommended home insurance coverage in Georgia

Some of the biggest threats to consider when crafting your homeowners insurance policy in Georgia are theft, flooding, and hurricanes (mainly for those within 30 miles of the coast).

While theft and severe weather events are usually automatically covered, you may need to purchase special hurricane or earthquake coverage.

Flooding coverage also usually comes separate:

If you think you may be at risk of water damage from a backed-up or busted pipe, you can add water backup coverage.

If you live in a flood risk zone, consider protecting yourself from outside water damage with flood insurance such as a policy offered through FEMA’s

National Flood Insurance Program (FLIP)

Finally, you can look for an HO-5 or “open perils” policy, which covers any peril except for named exclusions.

MORE: How to choose the right kind of home insurance for you

What makes homeowners insurance in Georgia expensive?

Many estimates put the average cost of Georgia homeowners insurance slightly above the national average.

As a baseline, you can expect to pay between $115 and $160 a month (roughly between $1,400 and $1,900 a year) for a basic amount of dwelling coverage in the Peach State.

Besides the value of your home, personal factors like your credit score and marital status can influence the cost of your premiums. The more financially responsible you appear on paper, the lower rates you may be able to enjoy.

Fire and lightning

While Georgia’s risk of natural disasters is low compared to other states, severe storms throughout the state can lead to home damage and destruction, necessitating expensive repairs.

Fire and lightning claims related to storms are some of the most common homeowners insurance claims in Georgia. Since they are also some of the most expensive claims, high numbers of them can cause premium prices to rise throughout the state.

Hurricanes

Georgia’s coastal location puts it at risk of tropical storms and hurricanes from the Atlantic Ocean and the Gulf of Mexico. If your property is in a hurricane risk zone (typically within 30 miles of the coast), you can expect to pay higher premiums than your inland neighbors.

Older homes

The average age of houses in Georgia is younger than the rest of the country, but you can still find many historic buildings and houses over 50 years old. Older homes are typically more expensive to insure than newer ones.

Homeowners insurance discounts in Georgia

You can make a policy with almost any provider more affordable by taking advantage of homeowners insurance discounts. Common discounts are outlined in the chart below:

Discount	How to get it
Bundling	Bundling home and auto insurance can reduce your pricing for each one.
First-time homeowner	If this is your first home, you may be rewarded with a discount.
Claims-free	Going several years without filing a claim and staying safe can reward you with a reduced rate.
Storm proofing	You may be eligible for a discount if you install safety features like stormproof shutters in your home.
Security system	Warding off thieves by installing a security system shows your dedication to safety and can net you some savings.
Upgraded fire alarm	If you program your fire alarms to contact the fire department directly, the shorter response time can save your home from extra damage—and reward you with a lower rate.

How to save on home and auto insurance

With so many providers out there and additional coverages to choose from, purchasing a

homeowners insurance

policy can get overwhelming. If you’re not sure where to start,

Jerry

can help you find the best deals, especially some sweet home and auto bundling policies.

All you need is a few minutes and your smartphone. Jerry will browse for quotes from over 50 top providers and deliver the best results right to you for comparison. Just tell Jerry which one you like best, and you’ll even be able to register in the app!

If you ever have questions during your insurance shopping process (home or auto), Jerry has a line of caring and knowledgeable agents ready to help via call or text. Let Jerry care for you and make finding new insurance stress-free!

“
Jerry
makes insurance buying as easy as possible! It was my first time buying and I did almost everything in the app. Even talking to John on the phone was easy.” —Sai E.

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