Georgia is one of the most expensive states for renters insurance, as they’re the sixth most expensive state, with premiums around $243 annually in 2017 compared to the average premium of $180 in the United States. Even with the extra cost in Georgia, renters insurance can be affordable and can save you a lot of money if something happens that would require you to use your coverage.
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When considering renters insurance, there are several things to consider:
- Personal property: This is the amount that covers your items should they incur damage from fire, flood, weather or other covered events
- Personal liability: Personal liability covers medical bills for anyone who’s injured in your home or on your property. It can also protect you from expenses if you’re legally responsible for damage on someone else’s property.
- Loss of use coverage: This provides financial assistance for temporary living expenses if your apartment becomes uninhabitable.
With these factors in mind, how much renters insurance do you need? This depends on the value of the items in your home. To demonstrate, if you’re a college student who doesn’t have many valuable items, you could afford to have a lower personal property amount. Or, if you have collectibles, artwork or other high-priced equipment, you’ll want more protection to cover them. Likewise, if you have a dog that might bite someone, more personal liability protection could be useful.
Best rental insurance companies in Georgia
When searching for the best renters insurance companies in Georgia, consider a provider’s reputation for delivering customer service (the J.D. Power & Associates customer satisfaction survey is a helpful resource), it’s financial strength that indicates if they can pay out claims (AM Best rating) and their price offerings. With this in mind, here are the best of the best:
- Liberty Mutual: Liberty Mutual earned top marks for its financial strength, as it rated A with AM Best. This indicates the company has strong financial health and should be able to pay its policyholders’ claims.
- Nationwide: Nationwide made the list on the strength of its customer service. That said, Nationwide tends to be a more expensive option when compared to State Farm or Liberty Mutual.
- State Farm: State Farm makes the list because they earned a five out of five rating with J.D. Power, demonstrating a high level of customer satisfaction. What’s more, when we did a quote with State Farm, it was the cheapest traditional provider available, with rates beginning at $242 annually.
- USAA: Last, but certainly not least is USAA. It’s the gold standard for insurance companies because it earned a five out of five overall in J.D. Power’s customer satisfaction ratings. USAA is also among the least expensive providers with some of the most responsive customer service. This company only serves military members and their families.
Taking these things into account, here’s how the top Georgia renters insurance companies measure up to each other:
|Provider||J.D. Power Rating||AM Best Rating||BBB Grade|
|Liberty Mutual||2 out of 5||A||A|
|Nationwide||2 out of 5||A+||A+|
|State Farm||5 out of 5||A++||A+|
|USAA||5 out of 5||A++||Not rated|
When comparing renters insurance, you will have certain things that are more important to you than others. Because of this, we want to help you in the right direction by providing the best carrier depending on your situation.
Cheapest Georgia renters insurance: State Farm
State Farm is by far the least expensive option available. When we did a quote for them using an Atlanta zip code for $20,000 in personal property coverage, we received a quote for $243 annually. If you combine this policy with an auto policy, it drops the price down to a little over $16 per month.
Best Georgia renters insurance for online options: Nationwide
Nationwide makes it simple to receive a quote within minutes. You visit the website, go to “start my quote” and fill out the required information. Nationwide also offers a mobile app where you can make changes to your policy at any time, which is a simplified way to manage your policy on the go.
Best Georgia renters insurance for customer service: USAA and State Farm
Insurance can be difficult to understand. If you don’t know what coverage you’re receiving, it helps to go with a provider that delivers exceptional customer service. This is where USAA and State Farm separate themselves from the rest of the pack, as both earned top marks in J.D. Power’s customer satisfaction survey.
Frequently asked questions
How much renters insurance do I need in Georgia?
The amount of Georgia renters insurance you need depends upon the value of the items you have. If you have more valuable items, you’ll want a bigger amount to cover you in the off chance they incur damage.
What’s the cheapest renters insurance company in Georgia?
For traditional carriers, you won’t beat State Farm. It offers the lowest rates with the highest customer satisfaction scores. If you’re in the military or have a family member who is in the military, USAA is your best bet. However, your circumstances might make some companies cheaper than others. Get several quotes and ask about discounts you might be eligible for to find the cheapest coverage.