October 22, 2021

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The Best Cheap Renters Insurance in Georgia for 2021

The Best Cheap Renters Insurance in Georgia for 2021

The Best Cheap Renters Insurance in Georgia for 2021

Information about The Best Cheap Renters Insurance in Georgia for 2021

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Georgia has the second-highest renters insurance rates in the U.S. — behind only Louisiana — according to NerdWallet’s analysis. But that doesn’t mean you can’t find affordable coverage. We analyzed prices from more than a dozen companies across the state to find the cheapest renters insurance in Georgia.

The average cost of renters insurance in Georgia is $243 a year, or about $20 a month. That’s much higher than the national average of $168.

Atlanta renters insurance is even more expensive, at $269 a year on average. Below are the average renters insurance rates in Georgia’s 25 largest cities.

Despite the expensive rates above, there are options for cheap renters insurance in Georgia. Below are companies with rates below the state average.

Georgia Farm Bureau: When weighing this company’s cheap rates, keep in mind that you’ll need to be a Farm Bureau member to buy its insurance. Membership costs $35 per year and includes discounts on travel and entertainment. Learn more about .

The Hanover: You can choose from several renters insurance packages — one with just the basics, and two with higher limits and extra types of coverage. The Hanover sells its policies through agents so you can talk through the options you need.

State Farm: comes with replacement cost coverage for furniture, clothes and other personal belongings. That means if your stuff is stolen or destroyed, the company will pay enough for you to buy brand-new replacements. (Other companies may pay less for your older items due to depreciation.)

Auto-Owners: This Michigan-based company sells policies through independent agents. You may be eligible for discounts if you bundle your renters insurance with another policy, pay your premiums on time or enroll in paperless billing.

Chubb: Chubb caters mostly to wealthy renters, offering generous coverage and good service. The company receives far fewer home insurance complaints to state regulators than expected for a carrier of its size.

Alfa: You don’t need to be a farmer, but you must be a member of the Alabama Farmers Federation to buy Alfa’s insurance products. The cost is $33, and perks include a variety of travel, automotive and other discounts.

Country Financial: You can customize Country Financial’s basic renters policy with extra coverage for valuables, identity theft or damage from backed-up drains. The company receives fewer customer complaints to state regulators than expected for a carrier of its size.

ASI Progressive: If you have auto insurance with Progressive and renters insurance with this subsidiary, you could save with a bundling discount. Savings may also be available if you pay your bill in full upfront or elect to receive policy documents by email.

USAA: Unlike most insurance companies, USAA covers flood and earthquake damage as part of its standard renters policies. USAA insurance is available only to active military, veterans and their families.

For a highly rated national insurer, consider one of these carriers from NerdWallet’s list of .

Below are some of the natural disasters Georgia tenants might face, and how renters insurance can help.

This type of storm brings two potential sources of damage — wind and water — but your renters policy may cover only one of them.

Flood damage is excluded from most renters policies, so if you live in a ground-floor apartment in an at-risk area, you may want to buy separate .

Most renters policies do cover wind damage. However, if your home is located near the coast, you might have a separate deductible for damage due to windstorms, named storms or hurricanes. That means you might have to pay more out of pocket for a wind claim than you would for other types of claims.

In some cases, wind damage may be excluded from your policy altogether if you live in a high-risk coastal area. At that point you could turn to the Georgia Underwriting Association, the state’s insurer of last resort.

The wind coverage included in most renters policies will pay for destruction from tornadoes.

Fire and smoke damage are covered by the vast majority of renters policies. This could include wildfires, a kitchen fire in your apartment or smoke from a blaze next door.

Georgia’s winters are relatively mild, but the state does see occasional ice and snowstorms. A standard renters policy will cover water damage from a burst pipe. Some policies will also pay out if you lose refrigerated food in a power outage.

Earthquakes are rare in Georgia, but if you’re unlucky enough to experience one, your renters policy likely won’t cover it. can be purchased as an add-on or separate policy.

The rates above can give you a rough idea of what you’ll pay, but your own premium will depend on a variety of factors.

Insurers consider some locations riskier than others. For example, they might charge more for renters insurance in a high-crime area because they consider you more likely to file a theft claim.

If you’ve filed a claim in the past, insurance companies may raise your premium because they think you’re more likely to file again in the future.

The companies below charged the lowest rates in our analysis for renters with a recent theft claim.

The more stuff you have, the more coverage you’ll need, and the higher your premium is likely to be.

A deductible is the amount of a claim you cover yourself before your insurer starts paying. Choosing a higher amount can save you a few bucks on your renters policy. Just make sure you’d feel comfortable paying that amount in a pinch.

Many insurers use a , similar to a traditional credit score, to set renters insurance rates. The better your credit, the cheaper your renters insurance may be.

If you’ve got an uneven credit history, consider one of the following companies. They offered the cheapest Georgia renters insurance for those with poor credit in our analysis.

Got deadbolt locks, smoke detectors, a burglar alarm or a sprinkler system? You might be eligible for a protective device discount from your insurer.

Another common way to save on renters insurance is by your policy with another type of insurance, such as auto.

The liability part of your renters policy generally covers expenses if your someone else. That means your insurer might charge you more if you own a breed it considers a higher attack risk, such as a pit bull or Doberman pinscher.

Georgia’s Office of Commissioner of Insurance and Safety Fire has a where you can check whether agents are licensed and file a complaint against your insurer. For personalized help, you can call the Consumer Services Division at 800-656-2298.

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