Best Homeowners Insurance in Georgia for 2022 | Bankrate

home insurance in georgia

Although Georgia experiences fewer high-intensity hurricanes than Florida, the state still experiences risk of storm damage from hurricanes, tornadoes, and heavy rains. The average cost of insurance is also intertwined with economic elements such as the average cost of living in the state, property taxes, and income taxes.

georgia home insurance risk factors

Because each state has different risks, there are different geological considerations when it comes to home insurance. To better protect your finances, it helps to understand the common causes of home damage in Georgia, as well as the insurance options available to cover these causes of loss.

Reading: How much is homeowners insurance georgia

common causes of loss in georgia

See also: Governor Whitmer Announces Auto Insurance Checks to Hit Mailboxes Starting This Week

by knowing which threats are most common in georgia, you can make strategic decisions about what types of coverage to get. Hurricane damage is one of the most prevalent hazards in the Peach State. Although Hurricane Ida of August 2021 saved the state from a direct hit, parts of Georgia were affected by remnants of the storm. In 1994, Tropical Storm Alberto dumped more than 25 inches of rain in less than 24 hours in parts of the state, killing 34 people and displacing more than 50,000.

In Georgia, you can expect higher than average exposure to:

  • Flooding: Many areas of georgia are at high risk of flood damage, with an average National Flood Insurance Program (NFIP) claim payout of more than $26,000. Because flooding isn’t covered by home insurance (flood coverage requires a separate policy), the risk of flooding in the state shouldn’t affect the price you pay for home insurance, but it can still be a consideration. for the types and amounts of coverage you purchase. .
  • Hurricanes: Georgia’s coastal position carries the risk of hurricane damage, which can be extensive and devastating.
  • Tornadoes: Although Georgia is not on tornado street, it is prone to significant tornado activity. While most tornado damage comes from high winds, hail also is common with these convective storms.
  • See also: How Much Do Testosterone Shots Cost Without Insurance? | Mira

    Now that you know the common causes of home damage in Georgia, you can choose coverage to more intelligently protect your property from these potential hazards.

    home insurance coverage options in georgia

    In addition to the types of standard homeowners insurance coverage, such as homeowners, liability, personal property, and loss of use coverage, you may want to consider additional coverage to protect against common causes of loss. :

    • Flood Insurance: Flood damage is generally not covered by a homeowners insurance policy. While it’s helpful to add the coverage to your policy, you’ll likely need to purchase a separate flood insurance policy from NFIP or from a private flood insurer if your home is in a high-risk flood zone. Some home insurers offer endorsements for flood coverage.
    • Windstorm coverage: Most policies cover wind damage automatically, but if you are in a high-risk area, you may need a policy or separate endorsement. Even if your homeowners insurance policy covers wind damage, you may have a separate wind deductible for designated tropical cyclones.
    • Roof replacement cost: If your roof is newer or in good condition, you may qualify for roof replacement cost coverage. If your roof is damaged, you’ll get the full replacement cost for repairs or a new roof, instead of having depreciation deducted from your settlement.
    • Because Georgia has a relatively high risk of storm-related damage, working with a licensed insurance agent to choose endorsements could be beneficial.

      See also: What is Insurance Grace Period | Max Life Insurance

Related Posts

How does roof insurance claim work

How Roofing Insurance Claims Work: What Contractors Need to Know

Understanding how roofing insurance claims work will help your insurance restoration business succeed and grow. By knowing the ins and outs of insurance, you can ensure a…

4 reasons your insurance company can cancel your auto policy – MarketWatch

Can they really cancel my policy without asking? Your insurance company can cancel your policy, but they must provide written notice before doing so. the amount of…

Best Cheap Health Insurance in Wisconsin 2022 – ValuePenguin

affordable health insurance is available in wisconsin through the state’s marketplace. Finding the best health insurance plan for you can be difficult, so to help you get…

Tesla Insurance Review: Costs and Coverage (2022)

car insurance for tesla models tends to be quite expensive with rates typically higher than the national average of $1730 per year for comprehensive coverage. A 2017…

How to read a life insurance policy

How to read your life insurance policy | Insure.com

A life insurance policy is a contract between an insurance company and an individual. there are a variety of policies, lots of riders, and many choices to…

The role of insurance providers in supporting treatment and management of hepatitis C patients | BMC Health Services Research | Full Text

hcv epidemiology Today, one of the most important global public health challenges is represented by the hepatitis C virus (HCV), which imposes a dramatically relevant burden in…