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Georgia Homeowners Insurance

Homeowners Insurance in Georgia: Complete Consumer Guide

Want to move to Georgia? Here are some interesting facts about your new home state. Georgia was established as the 13th colony in 1733 and became a state in 1788. Georgia was named after King George II who approved of the colony’s charter in 1732. Georgia has more commercial forestland than any other state. Georgia grows the most peanuts in the United States. It is the largest state east of the Mississippi River and is nicknamed the Peach State. Georgia produces 2.6 million bushels of peaches a year. The state flower of Georgia is the Cherokee rose. The state bird is the brown thrasher. And the state tree is the live oak. The state capital of Georgia is Atlanta.

Types of policy for Homeowners Insurance in Georgia

What kind of homeowners insurance policy is needed for your home? Not sure? Here is a look at the different types of policies.

HO-1 Called the “basic form,” this type of insurance policy covers the 10 most common perils. But you won’t be able to buy these policies everywhere. Some insurance companies do not offer HO-1 forms.

HO-2 Known as the “broad form,” the HO-2 form provides more limited coverage. But it still provides more coverage than the HO-1 form.

HO-3 This type of insurance form is the most widely purchased type of homeowners insurance. The HO-3 form provides coverage for named perils and personal property. With a HO-3 form, your insurance company will pay to repair or replace belongings damaged by 16 covered perils. These perils include hail, explosions, vandalism, theft, falling objects, water damage, the weight of snow, sleet and ice, windstorm, lightning, smoke and fire.

HO-6 The HO-6 insurance form is for condominium units. This type of coverage is usually “walls-in” coverage and protects the condo unit’s floors, walls and ceilings from 16 perils. The HO-6 form also includes coverage for the condo owner’s belongings.

HO-8 This type of insurance form is for older houses and covers 10 perils. The HO-8 form is paid on an actual cash value basis, which is the cost of the house items minus depreciation.

What factors affect rates on homeowners insurance in Georgia?

There are a wide array of factors that impact a homeowner’s insurance rates. Here is a look at a few. For example, the construction materials of your house, literally what your house is made of, plays a big factor in home insurance rates. For instance, they may or may not be flame retardant or resistant. So are other things such as how much it will cost to rebuild the house and replace all your belongings. Whether you own a swimming pool or a trampoline are other factors. Are you a dog owner? You’re liable for dog bites and injuries caused by your dog and this impacts your home insurance rate. Your credit also plays a role. If you have good and excellent credit, you will pay less for home insurance than a homeowner with bad credit.

Top 5 disasters in the State of Georgia

Georgia federally declared Severe Storms as the most common disaster with 15 counts since 1953, followed by Hurricane, Tornado, Fire, and Flood. Here are top 5 federally declared disasters in the state of Georgia:

Rank Declaration Title Disaster Number
1Severe Storms15
2Hurricane13
3Tornado13
4Fire12
5Flood9

Source: Federal Emergency Management Agency (FEMA)

How much is homeowners insurance in Georgia?

The average cost of homeowners insurance in Georgia is $1,137 per year.

Source: The average cost of homeowners insurance by state, Business Insider.

Crime Rate: Is Georgia a safe state?

2019 Crime in Georgia Crime Number Crime Rate*
Property Crime252,2492,375.8
Burglary39,506372.1
Larceny-Theft188,9671,779.8

*Rate per 100,000 inhabitants

Safest Cities in Georgia by Property Crime*

  • Milton, GA has a population of 40,067 with a Property Crime rate of 7.3 per 1k. The city average home value is approximately $604,311.
  • Braselton, GA has a population of 12,297 with a Property Crime rate of 10.4 per 1k. The average home value there is about $298,391.
  • Grovetown, GA came in third as the safest city in the state of Georgia and has a population of 14,918 with a Property Crime rate of 11.3 per 1k. Its home value averaged at about $207,512.
  • Woodstock, GA has a population of 33,470 with a Property Crime rate of 13.1 per 1k. Its average home value is $299,633.
  • Kennesaw, GA has a population of 34,641 with a Property Crime rate of 14 per 1k. The city home value averaged $274,192.

*Based on FBI Uniform Crime Reporting 2019, some cities have been eliminated because of changes in the state/local agency's reporting practices and cities with populations under 10,000. Zillow’s State/Cities average home value for a single family home or a condo as of Sept. 2020.

Compare Home Insurance Rates in Georgia

Top homeowners insurance companies in Georgia

Farmers offers three tiers of insurance coverage and allows you to choose higher coverages for specific items, which allows you to customize your insurance coverage. Farmers offers discounts for bundling a homeowners insurance policy with another insurance policy from Farmers. Identity theft coverage is available. Discounts are available for nonsmokers, multiple policies and members of professional groups.

Auto Owners is known for its customer service and for its handling of claims from the estimate through to the settlement. Auto Owners offers a number of discounts including an automatic backup generator discount, a water shut-off system discount, a mortgage-free discount, a favorable loss history discount, a multiple policies discount and a protective devices discount.

Allstate is well-known for the wide array of discounts that it offers home insurance customers. Allstate has an interactive website with digital tools that customers can use to help determine the insurance coverages that are best for them. Available discounts include an early signing discount, a home buyer discount and a hail-resistant roof discount.

Georgia Home Insurance FAQs

Can I use my own contractor on an insurance claim?

Yes, you may use your own contractor on an insurance claim. You are not required to use the insurance company’s contractor.

Will homeowners insurance pay for termite damage?

No, the cost to remove termites and repair their damage is not covered by homeowners insurance.

Can home insurance companies refuse to issue policy for bad credit?

A bad credit score won’t necessarily disqualify you from getting homeowners insurance but you may pay a higher insurance rate on your policy.

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