Best homeowners insurance in Georgia of 2021

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In Georgia, the current homeownership rate is 63.8 percent, which is about the same as the U.S. national average. The median property value in the state is $189,900, which is cheaper than the national average of $229,700. Owning a home in Georgia might be less expensive than buying property elsewhere, but it’s still essential to have a good homeowners insurance policy.

The average homeowner in Georgia pays $1,506 for their insurance policy, which is 2% more than the national average of $1,477. Your own rate will vary, however, based on factors such as the age and condition of your home, your credit rating, and more.

While Georgia law does not require you to have homeowners insurance, your lender likely will require it if you have a mortgage. However, unless you can pay out of pocket to replace your home without taking a hit to your quality of life, homeowners insurance is a smart investment.

The best home insurance companies in Georgia

To pick the best Georgia homeowners insurance providers, we reviewed ratings from the J.D. Power & Associates 2020 Home Insurance Study for customer satisfaction, AM Best and the Better Business Bureau. Next, we considered the coverage options within the state of Georgia. After that, the selection was narrowed down to these final five by comparison of premium rates and policy options.

When choosing from these companies, more will go into your decision than ratings. Pick the homeowner insurance company that provides the coverage you need. Compare these options to see which best fits you and your home.

Home insurance company Average annual premium for $250K dwelling J.D. Power customer satisfaction score
Allstate $1,583 829/1000
Chubb $1,684 778/1000
Country Financial $1,832 855/1000
Progressive $945 797/1000
State Farm $1,773 829/1000

Allstate

Allstate might be best known for selling car insurance, but the company also offers comprehensive home insurance policies. Allstate offers the basic coverages, including a few add-on policies, like flood insurance and HostAdvantage® for Airbnb hosts. If you’re looking to save money, Allstate offers several discounts. You may be able to save money if you have an anti-theft device in your home, are retired, are a recent home buyer or live in a smoke-free home. You’ll also automatically save 10 percent when you switch to Allstate from another provider.

Chubb

Chubb is an insurance powerhouse that specializes in high-value properties and offers numerous perks and coverage options to its clients. Its basic policy includes extended replacement cost coverage for both your home and your belongings, and there are extras such as HomeScan, which analyses your home and alerts you to leaks, missing insulation and faulty electrical connections — before you need to make a claim. Of course, all this comes at a price, but if you own a higher-value property, Chubb is a great first stop in your search for the best home insurance in Georgia.

Country Financial

Country Financial has a unique approach to home insurance. The company offers insurance in three tiers—basic coverage, premier coverage and combined coverage. With premier coverage, you can access unique coverage for things like countertop burns and paint spillage. Country Financial also offers a few optional coverages, including flood insurance, earthquake insurance and identity theft expense coverage.

Progressive

The good news about Progressive is that it has some of the most comprehensive coverage options of any insurer in the U.S., at rates that are competitive and affordable. It has a great website and mobile presence and offers amendments such as extended replacement cost and accidental loss coverage. The only caveat we have for Progressive is the fact that the company doesn’t write its own policies, but farms them out to a network of other insurers. This may impact your customer service because client management varies from company to company.

State Farm

State Farm gets an 829 out of 1,000 points from J.D. Power’s survey, which puts it right in the middle of the pack — the industry average is 881. It has an A++ rating from AM Best, meaning it is financially in great shape and able to pay out on claims easily. State Farm is known for offering good home insurance coverage, affordable rates and helpful online resources. On the Simple Insights® blog, you’ll find articles about purchasing home insurance for the first time, creating a home inventory and more. You can also use the highly-rated mobile app to file a claim and manage your policy from anywhere.

Average cost of homeowners insurance in Georgia

To determine how much, on average, homeowners in Georgia pay for home insurance, we got sample quotes from several insurance carriers:

  • Allstate: $132 monthly, $1,583 annually
  • Chubb: $140 monthly, $1,684 annually
  • Country Financial: $153 monthly, $1,832 annually
  • Progressive: $79 monthly, $945 annually
  • State Farm: $148 monthly, $1,773 annually

The average price of homeowners insurance in Georgia was $1,506 in 2020, compared to the national average, which is $1,477. The neighbor to the left, Alabama, has higher average rates of $1,917 while South Carolina has lower rates at $1,532.

Some of the factors that contribute to the state average rate are environmental factors such as windstorms, hail and flooding. It is also intertwined with economic elements such as the average cost of living in the state, property taxes and income taxes. The surrounding states followed the same trend as Georgia and are all above the national average, except for Tennessee.

Georgia common causes of loss

Specific numbers for insurance loss by state are hard to come by, but aggregate data for the country reveals particular trends. With a little awareness about which threats for losses are greater than average in Georgia, you can make strategic choices about which types of coverage to get.

In Georgia, you can expect above-average exposure to:

  • Flooding
  • Hail
  • Hurricanes
  • Wind

According to the Insurance Information Institute, 34.4% of property damage claims across the country were from wind and hail, while 32.7 were from fire and lightning in 2018. These forms of damage are the primary threat to homes in the U.S., but even more so for Georgia, where the storms that produce these dangers are more common. As reported by the National Weather Service, dangerous storms in Georgia happen on a yearly basis.

Common coverages in Georgia

Few coverage options for home insurance coverage are state-specific, but some can be more important in certain states than others. Specifically, these coverage options deal with environmental threats that are present in the region of the home being insured. These are insurance options often recommended in Georgia:

  • Additional living expenses: If your home is damaged to the point where you can’t live in it until it gets fixed, this coverage may pay for your hotel bills and living expenses during that time.
  • Liability protection: If someone gets hurt on your property, you are legally responsible. Liability protection is insurance that may pay for the bills associated with someone getting hurt on your property.
  • Personal belongings: This covers the possessions within your home and on your property.
  • Weather-related coverages: While not common in Georgia, homeowners near a fault line sometimes consider earthquake coverage. Windstorms, hail and flooding are more common occurrences, and homeowners may be surprised to learn flood damage is not covered under a standard home insurance policy.

Frequently asked questions

What is the best homeowners insurance in Georgia?

The best homeowners insurance Georgia has will depend on your situation, including but not limited to your budget, your property value and build, your property location and what kinds of coverage you want. Country Financial, however, received the best overall ratings.

How do I get homeowners insurance in Georgia?

Most homeowners insurance companies provide online tools for beginning the quote and application process. Your first step is to weigh the different companies and select one, then go to the website or call an agent to walk you through the process.

What types of add-on coverage for homeowners insurance do I need in Georgia?

On top of the basics, you should consider extra coverage for flooding, wind and hail, hurricanes and earthquakes.

How much does homeowners insurance cost in Georgia?

On average, homeowners insurance costs $1,506 based on the data above, but this is just an average. The real cost of your home insurance in Georgia may be higher or lower, depending on your home, your credit history, the location of your home and the types of coverage and deductible you want.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.