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Insurance premiums for renters are generally affordable and provide financial protection in the event you experience a loss. Depending on the state you reside in, renters insurance costs will vary. Bankrate analyzed the Georgia renters insurance market to help you find the best renters insurance options in Georgia. We selected some of the top renters insurance companies in Georgia based on each carrier’s average rates, coverage options, third-party ratings, resources, and discounts available to help you find the right insurer for your needs.
Best renters insurance companies in Georgia
The average annual cost of renters insurance in the U.S. is $174 per year, according to the Insurance Information Institute (Triple-I). Renters in Georgia pay more on average, at $209 per year. 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.
|Provider||Best for||AM Best rating||J.D. Power score|
|Allstate||Policy management flexibility||A+||837/1,000|
|Lemonade||Giving back||Not rated||853/1,000|
|State Farm||Policy bundling||A++||836/1,000|
*Not officially ranked by J.D. Power due to eligibility restrictions
Best for: Policy management flexibility
Allstate could be a good option if you like working with a local agent, but also enjoy the option of handling your policy online. Allstate offers several digital tools to help make online policy management easier. Its “What’s your stuff worth?” resource helps you determine the value of your personal property, helping you decide on coverage. Additionally, its “Find an Agent” tool online makes it easy to see if there is a local agent in your area. Renters covered under Allstate have several endorsement options to personalize their policy, including scheduled personal property coverage and identity theft protection.
|Strong digital presence and access to resources online||Endorsement availability limited in certain states|
|Several add-on options||Scored below-average for customer satisfaction in 2022 J.D. Power study|
- “What’s your stuff worth” personal property estimator tool
Learn more: Allstate Insurance review
Best for: Giving back
If you’re looking for a cheap rate and you want your renters insurance to do more than protect your finances, try Lemonade. Rates start at $5 per month and 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.
|Easy policy management through Lemonade mobile app.||Availability is limited by state|
|Claims can be paid out by direct deposit||Not yet available in every state, so may not be an option for renters planning to move|
- Certified B Corp status enabling a give back program.
Learn more: Lemonade Insurance review
Best for: Valuables coverage
Nationwide is known for its “On Your Side” slogan, and it 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 personalize your policy, like the Brand New Belongings coverage, which pays for your items at their full replacement value rather than accounting for depreciation.
|Several add-on options to customize your policy||Only available in 43 states.|
|Multiple ways to receive quotes||Does not offer 24/7 customer service|
- Brand New Belongings coverage
Learn more: Nationwide Insurance review
Best for: Policy bundling
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, you could insure multiple lines with the company. State Farm operates by using a network of 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.
|Numerous insurance products make it easy to bundle.||Limited number of discounts available|
|Superior AM Best ratings for customer satisfaction||Below-average J.D. Power score|
- Over 19,000 agents across the U.S.
Learn more: State Farm Insurance review
Best for: Military-dedicated coverage
Because it only sells insurance to current and former military members and qualified 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 in the industry. USAA offers coverage options tailored to military service members, such as overseas coverage for your belongings if you are deployed.
|Above average customer service.||Customer service hours limited.|
|Includes flood coverage||Only available to current and former military members.|
- 28 percent discount for military members with specialized renters policies who live on base, in barracks or dorms
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. Although renters insurance is not required at the state level in Georgia, 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.
Renters insurance is not required in any state. However, your landlord may require you to obtain a policy with a certain level of liability coverage before signing a lease. If your landlord requires renters insurance, it can help you cover the costs of personal property if your belongings are damaged in a covered event.