Best renters insurance in Georgia
The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
The average annual cost of renters insurance in the U.S. is $174 per year. However, renters in Georgia pay more, with an average annual rate of $209, according to the Insurance Information Institute (Triple-I). Renters insurance is generally very affordable, and it can help provide peace of mind that your finances are protected should you experience a loss.
Bankrate analyzed the Georgia renters insurance market to help you find the best options. We reviewed each carrier’s average rates, coverage options, discounts, digital tools and third-party scores. Our research could help you develop a broad understanding of each company and serve as a guide as you choose the insurer that is right for you.
Best renters insurance companies in Georgia
If you’re shopping for Georgia renters insurance, it could be helpful to look at more metrics than just price. Comparing quotes is still a solid strategy, but renters insurance is generally fairly inexpensive. To find the best option for you, consider looking at coverage options, discounts and third-party scores.
Based on our research, here are some of the best renters insurance providers in Georgia:
|Provider||AM Best rating||J.D.Power score|
*Not officially ranked by J.D. Power due to eligibility restrictions
Allstate could be a good option if you prefer to work with a local agent rather than handling your policy online. The company has a network of agents that spans the nation, and the “Find an Agent” tool on Allstate’s website makes it easy to see if there is an agent in your area. Allstate offers several endorsement options to allow you to customize your policy, including special personal property coverage and flood insurance.
Learn more: Allstate Insurance review
If you want your renters insurance to do more than protect your finances, try Lemonade. The carrier is a Certified B-Corp, which means that it follows strict requirements for its giveback programs. When you take out a policy, you’ll get to select a charity. Once a year, Lemonade donates any unused funds to the charities chosen by its policyholders. The company doesn’t have a financial strength rating with AM Best, but is rated A (Exceptional) by Demotech.
Learn more: Lemonade Insurance review
Nationwide is known for its “On Your Side” slogan, and it certainly offers renters numerous ways to obtain renters insurance coverage. You can get a quote online, by phone or from a local agent. Nationwide offers standard renters insurance coverage options, like personal property coverage and liability coverage, along with a few options to customize your policy, like the Brand New Belongings coverage, which pays for your items at their full replacement value rather than accounting for depreciation.
Learn more: Nationwide Insurance review
State Farm is the largest property and casualty insurance company in the United States, so if you prefer doing business with a well-established company, look no further. Like Allstate, the company operates by using a network of local agents. The company has over 19,000 agents across the country, so it is likely that there is one in your area. State Farm offers numerous insurance products, including auto, renters and life insurance, as well as banking services. If you are looking for one company that might be able to handle several of your financial needs, State Farm might be a good option.
Learn more: State Farm Insurance review
Because it only sells insurance to current and former military members and select family members, USAA is not technically eligible for ranking from J.D. Power. However, the company does consistently receive high scores for its customer service. If you qualify for coverage with USAA, you may be able to get a renters insurance policy that comes with some of the best customer satisfaction around. USAA offers coverage options tailored to military service members, such as overseas coverage for your belongings if you are deployed.
Learn more: USAA Insurance review
Average renters insurance costs in Georgia
Renters in Georgia pay, on average, $209 per year for a renters insurance policy, according to the Triple-I. The national average premium for renters insurance is $174 per year. Georgia renters pay the sixth-highest average premium in the nation, potentially due to a high cost of living in cities like Atlanta.. Compared to the surrounding states, however, Georgia’s renters insurance premiums are competitive:
|State||Average annual premium|
While renters insurance is generally less expensive than homeowners insurance, your premium will vary based on your specific rating factors, like the amount of coverage you choose, your history of filing claims and your ZIP code.
Renters insurance coverage in Georgia
Renters insurance typically comes with a few different types of coverage. The first is for personal property. Personal property coverage is designed to cover the cost of damages to your belongings, like your clothing, furniture and electronics. Depending on how much personal property you have and what your tolerance is for risk, your personal property level will vary.
The other main coverage provided by a renters insurance policy is personal liability insurance. Liability coverage pays the medical bills and legal fees for someone injured on your property if you are found at fault for their injuries. It can also pay for the damage you cause to someone else’s property. The amount of liability coverage you need will depend on a number of factors, including how many assets you have to protect and the value of those assets, if you have pets in your rented home and if you frequently have visitors. Your landlord may require you to have a certain amount of liability coverage.
Frequently asked questions
Just like finding the best home insurance company, finding the best renters insurance company usually depends on you understanding your needs. Renters insurance is less complex than other types of insurance, but you still may have specific needs. Knowing what you are looking for from a company — be it high customer satisfaction, a certain coverage type, a mobile app or anything else — and tailoring your search to those parameters can help you find the right fit. Additionally, many of the best home insurance companies in Georgia sell renters insurance, so you could start your search there too.
Buying renters insurance differs from each provider. Some allow you to fill out the application online, while other companies may provide quotes by phone or in person. No matter how you get a quote, you will likely need to provide your name, address, the type of home you live in (single-family home, condo, apartment, etc.) and information about the type of coverage you are looking for. If you are uncertain about the levels of coverage you need, you may want to talk to a licensed agent.
No state requires renters to buy coverage, but your landlord may require you to carry a policy with a certain level of liability coverage. You might have to show proof of a policy before you’re allowed to move in. Generally, though, insuring your personal belongings is up to you. If your landlord requires you to buy a policy for liability coverage, though, you’ll likely also end up with some personal property coverage. Most insurance companies require at least a minimum amount of property coverage to buy a policy.