Table of Contents
- How much is renters insurance in Georgia?
- Average cost of renters insurance in Georgia by city
- Average cost of renters insurance in Georgia by insurance company
- The cheapest renters insurance in Georgia: Lemonade
- The best renters insurance in Georgia: State Farm
- Other Georgia renters insurance providers you should consider
- What else do you need to know about renters insurance in Georgia?
- How we gathered our data on Georgia renters insurance prices
How much is renters insurance in Georgia?
The average price of renters insurance in Georgia is $28.50 per month. This is higher than the national average of about $20 per month. Renters insurance is cheapest in Augusta ($26.40 per month) and most expensive in South Fulton ($32.15 per month).
Prices vary from city to city because insurance companies consider your location when calculating your renters insurance premium. It gives your insurer an idea of how likely you are to eventually file an insurance claim.
The price of renters insurance depends on the following location-related factors:
- Proximity to the coast: If you live on the coast, then you’re more vulnerable to hurricane damage, which renters insurance usually covers. For this reason, your insurer will charge you more.
- Whether you live in an urban or rural area: Urban areas tend to have higher crime rates than rural areas do. Your insurer will charge you more if you live in an area with a high crime rate because renters insurance covers theft and other property crimes like vandalism.
- Likelihood of natural disasters occurring: If you live in an area that’s prone to natural disasters, such as tornadoes, hurricanes, severe storms, or earthquakes, then you’re more likely to file a renters insurance personal property coverage claim for damages caused by these events.
In addition to these location-related factors, there are several others that influence your premium, such as the amount of coverage you purchase, whether you add an endorsement or rider to your renters insurance policy for added protection, and how low you set your renters insurance deductible (a lower deductible means you pay less when filing a claim but pay higher monthly premiums).
Average cost of renters insurance in Georgia by city
The following table lists the average cost of renters insurance per month and per year in 15 of Georgia’s major cities.
|City||Average price (monthly)||Average price (yearly)|
Average cost of renters insurance in Georgia by insurance company
This table lists the average cost of renters insurance policies offered by 9 major insurers in Georgia and shows how their prices compare to the statewide average.
|Insurer||Price||Difference from average|
The cheapest renters insurance in Georgia: Lemonade
Lemonade offers the cheapest renters insurance in Georgia by a wide margin, with policies costing only $18.30 per month on average. This price is 36% cheaper than the statewide average. Moreover, with Lemonade, you can save twice as much as you would with the second cheapest insurer (Liberty Mutual).
However, it’s important to note that Lemonade has highly variable prices, making it much cheaper than its competitors in some cities but not in others. For example, going with Lemonade would save you 57% if you live in Athens ($11.42 vs the city average of $26.43). However, in most other cities, choosing Lemonade instead of Liberty Mutual or State Farm will only save you $1–$2 per month.
Should you get Lemonade renters insurance in Georgia?
Lemonade’s low prices make it a tempting option, especially if you’re only looking for basic coverage. However, the company does have some drawbacks that you should consider, particularly if you live in Georgia. We cover Lemonade’s pros and cons below.
Benefits of Lemonade renters insurance in Georgia
- Convenient digital services: Lemonade’s automated approach to renters insurance will appeal to you if you prefer dealing with your insurance rather than through an agent. You can easily sign up on their website and adjust your policy or file claims using their mobile app.
- Some of your money is donated to charity: Lemonade empowers their customers by letting them choose a charity that will receive a portion of their premium payments.
- Quick services: Because Lemonade relies on automation, you can expect to get your renters insurance policy set up in no time. You’ll also receive your claims payout relatively quickly (most of the time).
Disadvantages of Lemonade renters insurance in Georgia
- Limited customer service: Because Lemonade offers primarily digital services, it’s much more difficult to get in touch with a representative if you have problems or questions about your renters insurance policy.
- No coverage for power outages: Although renters insurance usually covers food loss, Lemonade’s policies don’t. If your power suddenly cuts out and your refrigerator stops running, then you’ll be stuck with the cost of replacing your spoiled food. Georgia is very susceptible to power outages due to its frequent thunderstorms, making this a serious disadvantage if you don’t have a generator.
- Limited bundling options: Most insurance companies offer a bundling discount, which reduces the cost of renters insurance if you also have another insurance policy with the company. Lemonade currently only allows you to bundle renters insurance with pet insurance, meaning that if you want to save money by bundling your renters and auto insurance, you’ll have to go to a different company.
Is Liberty Mutual better than Lemonade?
If price is your main concern, you might also want to consider choosing Liberty Mutual instead of Lemonade, which would only cost you an additional $1–$2 per month if you live in any of the following cities:
- Johns Creek
- Warner Robins
Liberty Mutual has been operating almost 100 years longer than Lemonade, meaning that it has a longer track record of financial stability and trustworthiness. Liberty Mutual also offers more ways to save on renters insurance, offering discounts for:
- Not filing a claim on your renters insurance for 5+ years
- Getting a quote before your current policy with another insurer expires
- Signing up for multiple insurance policies
- Signing up for automatic payments
- Buying your renters insurance policy online
Moreover, if you live in Georgia, then you’ll be able to add earthquake coverage to your renters insurance policy with Liberty Mutual, but you won’t have this option with Lemonade. (Although earthquakes are relatively rare in Georgia, they’re not unheard-of.)
However, Liberty Mutual has some drawbacks. Notably, the maximum amount of personal property coverage they offer is $25,000, whereas Lemonade allows you to increase your coverage amount well beyond this limit. If your belongings are worth more than $25,000, which is the case for most people, Liberty Mutual isn’t a good option.
The best renters insurance in Georgia: State Farm
Overall, State Farm’s renters insurance is relatively cheap and has many of the advantages of Lemonade and Liberty Mutual with fewer drawbacks.
Advantages of State Farm renters insurance
- Broad range of personal property coverage: State Farm’s renters insurance policies are highly customizable. They offer personal property coverage ranging from $2,000 up to $1,000,000, which is a broader range than most other insurers offer.
- Additional coverage options: Although renters insurance usually doesn’t cover damage from earthquakes, State Farm offers a rider for optional earthquake coverage. You can also supplement your renters insurance policy with additional personal liability coverage, business property coverage, protection from cybercrime and identity theft, and additional coverage for jewelry and computers.
- Replacement cost coverage: All of State Farm’s renters insurance policies automatically come with replacement cost coverage, which is much better than actual cash value coverage. With a replacement cost policy, you’ll almost always receive more money for a personal property claim.
Disadvantages of State Farm renters insurance
- Limited discounts: If you’re looking for ways to get discounts on your renters insurance, your only options with State Farm are a bundling discount and a discount for installing home safety devices such as smoke detectors or burglar alarms. These are common discounts that most of their competitors also offer, including Liberty Mutual and Lemonade.
What to do if you want more coverage
If you’re more concerned about getting enough coverage than finding the best deal, then you should also consider Allstate, which charges a slightly higher rate ($32.77 per month on average) but offers the option to add earthquake, flood, and umbrella insurance to your renters insurance. They also cover power outages and debris removal, meaning that they’ll help you remove debris from your property after a tornado or severe storm.
Where to get more information
To help you find a renters insurance policy that’s right for you, we’ve published several detailed reviews of renters insurance companies and the types of coverage they offer:
Other Georgia renters insurance providers you should consider
We’ve given you an overview of the cheapest and best renters insurance in Georgia, but it’s important not to overlook other options that may be better suited to your circumstances.
In this section, we’ll tell you who offers the best renters insurance for:
- Veterans or members of the military
- People with dogs
- Business owners
- College students and first-time renters
- Car owners
Best Georgia renters insurance for military service members and veterans: USAA
USAA has an excellent reputation and offers some of the most comprehensive renters insurance policies you can get. Unlike the policies offered by other companies, their renters insurance covers floods and earthquakes.
The catch is that you’re only eligible if you’re a veteran, an active member of the military, or an immediate family member of someone who is already a USAA member. USAA’s policies are exclusive, but we recommend buying one if you’re eligible because you won’t be able to get the coverage they offer with any other company.
Best Georgia renters insurance for dog owners: State Farm and USAA
If you have a dog, then you’ll be glad to know that renters insurance covers dog bites and any damage that your dog causes to someone else’s property. This type of coverage, referred to as pet liability insurance, is a standard part of your renters insurance policy that falls under the category of personal liability coverage.
However, many companies have a list of dogs that they won’t cover. This practice, called breed blacklisting, is still legal in Georgia. State Farm and USAA are the only two major insurers in Georgia that won’t judge your dog based on its breed. Instead, they’ll make a decision based on whether or not your dog has a history of causing injuries or property damage.
Best Georgia renters insurance for business owners: State Farm
State Farm stands out by offering customers the option to add additional business property coverage and incidental business liability coverage to their renters insurance.
These riders will protect you if someone sues you for business-related reasons, or if your work equipment is lost or damaged. State Farm even offers loss of income protection if you have to stop running your business due to a covered loss.
What’s more, State Farm offers some coverage for business property under its standard renters insurance policies, which is something that many insurers don’t offer by default.
Best Georgia renters insurance for college students and first-time renters: Lemonade
If you’re a student or you’re looking to move into your first apartment, then Lemonade arguably offers the best renters insurance for you because of its low prices, hassle-free application process, and digital approach to policy management.
Lemonade’s website is well-designed and explains renters insurance to first-time tenants in simple, jargon-free language. Although we can’t say for sure whether it’s the right choice if you’re looking for a company to stick with in the long term, it’s a good starting point for anyone buying their first renters insurance policy.
Best Georgia renters insurance if you already have auto insurance: your current insurer
One of the easiest ways to save on renters insurance is to bundle your insurance policies, and people most commonly bundle renters insurance with auto insurance. If you already have car insurance, then check whether your insurer also offers renters insurance. If they do, then you could save more than 10% by purchasing your policy from them.
What else do you need to know about renters insurance in Georgia?
Location plays a big role in determining the type of renters insurance coverage that you need. Here, we’ll discuss the factors that you should consider when buying renters insurance in Georgia, including the natural disasters that are most likely to affect Georgia residents and which of these are always or never included as covered perils in renters insurance.
Renters insurance often covers weather damage but never covers landslides
Virtually all renters insurance policies cover damage from lightning strikes, wildfires, tornadoes, and hailstorms. None, however, cover landslides, which pose a major risk in the northern part of Georgia.
Georgia is one of the states most commonly hit by hurricanes, so you might also be wondering whether renters insurance covers hurricane damage. The short answer is, yes, it does. Although renters insurance doesn’t cover every type of damage that hurricanes can cause, it does cover damage from wind and falling objects and some forms of water damage.
All renters insurance policies include loss-of-use coverage
Renters insurance includes loss-of-use coverage for covered perils, meaning that your insurer will help you pay to stay somewhere else if damage from a tornado, fire, or storm renders your home unlivable. The major exception is floods, which are common following hurricanes and tropical storms but are almost never covered under standard policies.
If you’re worried about natural disasters causing serious damage to your personal property or forcing you out of your home, then you should consider increasing the amount of coverage that you purchase.
You can get flood insurance under the National Flood Insurance Program
If you live in Georgia, which is especially prone to severe storms and flooding, then you should consider purchasing flood insurance through the National Flood Insurance Program. This is particularly advisable if you live in the Atlanta area, where floods often cause major damage.
Is a credit check required for renters insurance in Georgia?
Yes, a credit check is required for renters insurance in most states, including Georgia. Insurance companies run your credit to predict whether you’ll pay your premium on time and how likely you are to file a claim (which people with low credit are statistically more likely to do).
If your credit score is low and you’re worried about how this will affect your policy, then check out our article on getting renters insurance with no credit check. Rest assured that your credit score won’t be affected by the insurance company running a credit check.
Can landlords require renters insurance in Georgia?
Yes, landlords in Georgia can require their tenants to have renters insurance. This is the landlord’s way of avoiding disputes over who’s responsible for paying for possessions that are damaged or stolen.
How we gathered our data on Georgia renters insurance prices
The prices we obtained for renters insurance in Georgia are based on the following conditions:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based on the amount of personal property coverage)
- Deductible: $500
If you’re looking for a renters insurance policy with different coverage or if you have a different demographic background, then the quotes you receive will differ from ours. However, these differences should be relatively small given the low cost of renters insurance.
It’s worth noting that these prices exclude installation fees and down payments. Fortunately, there are a few easy ways you can get renters insurance with no down payment.
The price of renters insurance in Georgia: complete data set
|City||Allstate||Geico||Progressive||State Farm||Liberty Mutual||Nationwide||Lemonade||Homesite||Farmers|