Best and Cheapest Renters Insurance in Georgia for 2024 - NerdWallet (2024)

With an average rate of $194 per year, Georgia is one of the most expensive states in the country for renters insurance, according to NerdWallet’s analysis. But that doesn’t mean you can’t find affordable coverage. We analyzed prices from companies across the state to find the cheapest renters insurance in Georgia.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

The cheapest renters insurance in Georgia

Below are the companies with rates lower than Georgia’s state average.

The best renters insurance in Georgia

For a highly rated national insurer, consider one of these carriers from NerdWallet’s list of the best renters insurance companies. Select the company’s name to read our review.

More about the best renters insurance companies in Georgia

See more details about each company to help you decide which one is best for you.

You can upgrade a basic Country Financial renters insurance policy to the company’s “premier” package, which also covers scenarios like a power surge damaging your appliances or the breakage of an antique item. You may also want to add extra coverage for certain types of valuables. For example, the company’s standard policy covers jewelry up to $1,500 in Georgia.

You can choose among several renters insurance packages from The Hanover: one with just the basics, and two with higher limits and extra types of coverage. For example, the middle tier of coverage will pay expenses associated with identity fraud and replace refrigerated food lost in a power outage. Upgrade to the most generous renters package, and your policy can also cover damage from backed-up sewers and drains. The Hanover sells its policies through independent agents, so you can talk through the options you need.

State Farm renters insurance 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.) You may also be able to add coverage for water backup and identity theft.

Auto-Owners offers many ways to save on renters insurance, including discounts for bundling multiple policies, paying your premium annually and signing up for paperless billing. You can upgrade your policy with the Renters Plus package, which includes extra coverage for things like damage from backed-up drains and food that spoils in a power outage. Auto-Owners sells insurance through independent agents.

Does your home have smart-home technology, a burglar alarm or an interior sprinkler system? If so, you might be able to save on Travelers renters insurance. You may also be eligible for a bundle or claims-free discount. Extra coverage may be available for expensive items such as jewelry or computers.

Farmers offers a variety of ways to save on your renters insurance policy, including potential discounts for bundling multiple policies, having a security system or being a nonsmoker. Teachers, doctors, nurses and police officers may also be eligible for savings. If you have expensive belongings, such as an engagement ring or fine art, ask about extra coverage to make sure those items are properly insured.

Along with standard coverage for liability and personal belongings, Nationwide renters insurance includes coverage for expenses due to theft, like unauthorized credit or debit card transactions and forged checks. You may also be able to add coverage for jewelry and other valuables or for damage due to backed-up drains.

Unlike most insurance companies, USAA covers flood and earthquake damage as part of its standard renters policies. It also includes replacement cost coverage for your belongings, so any claim payouts will be enough to buy brand-new items. USAA insurance is available only to active military, veterans and their families. If you live in military housing such as a base or barracks, you may be eligible for a discount on your renters insurance.

How much is renters insurance in Georgia?

The average cost of renters insurance in Georgia is $194 a year, or about $16 a month. That’s 31% higher than the national average of $148 a year.

In most U.S. states, including Georgia, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Georgia, those with poor credit pay an average of $347 per year for renters insurance, according to NerdWallet’s rate analysis. That’s about 79% more than those with good credit.

Average cost of renters insurance in Georgia by city

How much you pay for renters insurance in Georgia depends on where you live. For example, the average cost of renters insurance in Atlanta is $239 per year, on average, while renters in Marietta pay $208 per year. Check out your city below.

What to know about Georgia renters insurance

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

Hurricanes and tropical storms

These types of storms bring two potential sources of damage — wind and water — but your renters policy may cover only one of them.

Most renters policies won’t pay for flood damage, so if you live in a ground-floor apartment in an at-risk area, you may want to buy separate flood insurance. Learn more about flood insurance for renters.

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.

Tornadoes

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

Lightning and fires

The vast majority of renters policies cover fire and smoke damage. This could include wildfires, a kitchen fire in your apartment or smoke from a blaze next door.

Winter storms

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 if you lose refrigerated food in a power outage.

Earthquakes

Earthquakes are rare in Georgia, but if you’re unlucky enough to experience one, your renters policy likely won’t cover any damage. You can buy earthquake insurance as an add-on or separate policy.

What determines Georgia renters insurance rates?

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.

Where you live

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.

Previous claims

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. In Georgia, renters with a recent claim pay an average of 22% more than those with a clean claims history, according to our rate analysis.

Your coverage

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

Your deductible

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.

Your credit history

As noted above, many insurers will charge more if you have poor credit. Learn more about how to rebuild your credit.

Your home’s features

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

Your other policies

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

Your dog

The liability part of your renters policy generally covers expenses if your dog bites 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 government resources

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