Average Cost of Homeowners Insurance in Georgia (2024)

In Georgia, the average homeowners insurance premium in 2024 is $2,004, lower than the national average of $2,423. Aside from coverage amount, credit rating influences premiums the most, with a range from $1,607 to $10,066 based on creditworthiness.

If your rates have recently increased, our analysis of the cheapest plans in Georgia could be your guide to more affordable coverage. Remember, the insurance provider you choose also plays a role in determining your premium.

In Georgia, homeowners insurance averages $2,004 for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage. This cost is less than the national average of $2,423.

It's important to selecti the right amount of coverage. Your policy should be sufficient to rebuild your home in the event of a total loss. It should also cover your personal property, additional structures and liability.

Coverage choices impact your premium. In Georgia, a policy offering $100K in dwelling coverage costs an annual premium of $1,104. If you own a larger property and need $500K in dwelling coverage, the average premium is $3,620. These premiums reflect the value of the property insured and the level of protection provided.

Premiums for homeowners insurance in Georgia vary significantly among providers, even for comparable coverage levels. For instance, Auto-Owners Insurance offers a notable decrease from the state average, while State Farm's premium sits at the higher end of the spectrum.

For those searching for the right balance of cost and coverage, there are plenty of great providers in Georgia. Differences in underwriting processes, coverage options and company discounts can influence the rates you receive.

Homeowners in Georgia with poor credit ratings pay an average annual premium of $10,066 for homeowners insurance, which is $8,062 more than the state average of $2,004. Conversely, those with excellent credit pay $1,607 annually, saving $397 below the average.

While you may not be able to improve your credit score immediately, you can enhance it over time to lower your rates. In the short term, you can compare insurers to see which will save you the most.

The type of roof on your home plays a role in determining your homeowners insurance premium. In Georgia, materials that are more durable, like tile, can lead to lower insurance costs. On the other hand, less resilient materials such as shake-treated roofs may result in higher premiums.

Similarly, the construction type of your home affects your insurance rates. Homes built with materials that are more resistant to common perils like fire, classified as superior construction, often have lower insurance premiums. Conversely, standard frame construction, which may not be as resilient to severe weather, tends to come with higher insurance costs.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Insuring new construction in Georgia typically costs less than covering an existing home. The average annual premium for new homes is $1,250, showing a $754 decrease from the $2,004 average for older homes. The table below illustrates how premiums vary between new and existing homes based on the coverage amount selected.

In Georgia, homeowners with a claim-free history of five or more years pay an average annual premium of $2,004 for their insurance. However, filing just one claim in the past five years can increase that average premium to $2,399, which is $395 more than those without claims. For homeowners with two claims within the same timeframe, the average jumps to $2,740, marking a $736 increase from the claim-free baseline. These figures underscore the impact that claims history can have on insurance costs in the state.

For the cities we analyzed, we found premiums ranging from $1,691 to $3,092 per year. In Athens-Clarke, homeowners insurance averages at $1,691 annually, while Savannah's average is notably higher at $3,092.

Location impacts premiums due to varying risks like crime rates and weather patterns. City-based factors can be as influential as credit ratings and coverage amounts on insurance costs.

Shopping for home insurance in Georgia can be a smooth process, and a good deal is within reach. By understanding the market and knowing what influences costs, you're on your way to finding the best deal for you. Here's how to find the best deal for you.

Homeowners can enjoy potential savings by bundling their home and auto insurance policies in Georgia. MoneyGeek's analysis reveals that the average savings on the combined cost of auto and home insurance can range from $369 to $1,031 per year, with an average percentage savings of about 16%. Opting for a multipolicy bundle might not only simplify your insurance management but also provide a substantial discount.

Georgians can benefit from various homeowners insurance discounts.

• Claims-free discount: Savings for no claims in past years.
• Protective devices discount: Reduced rates for installing safety devices.
• Gated community discount: Discounts for homes in gated communities.

Remember, to maximize your savings potential, inquire about all available discounts when requesting a quote.

For those seeking further information on homeowners insurance in Georgia, the following resources can provide valuable guidance:

• Georgia Office of Insurance and Safety Fire Commissioner: Official state resource for insurance regulations.
• Affordable Home Insurance in Georgia: Find cost-effective options for your home.
• Georgia Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Georgia: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.