Best and Cheapest Renters Insurance in Georgia (2024)

State Farm is the best and cheapest for $20K in personal property coverage, with an average annual premium of $122 and a MoneyGeek score of 95 out of 100.

Although State Farm has the highest MoneyGeek score, the best for you will depend on your needs. USAA is the best for veterans, while Chubb is ideal for those seeking top-notch service.

State Farm is the best renters insurance provider in Georgia, with a MoneyGeek score of 95 out of 100 and an annual premium of $122 for $20K in personal property coverage.

• State Farm: MoneyGeek score of 95 out of 100 ($122 per year)
  
• Chubb: MoneyGeek score of 92 out of 100 ($141 per year)

State Farm has perfectly balanced customer satisfaction and affordability.

State Farm offers the cheapest renters insurance in Georgia, with an annual premium of $122 for $20K in personal property coverage with a $1,000 deductible. The top two cheapest providers in Georgia for this level of coverage are:

• State Farm: $122 per year
• Auto-Owners Insurance: $138 per year

Personal property coverage helps safeguard belongings like furniture, electronics and clothing against covered risks. Less expensive renters insurance plans often include lower limits on personal property coverage. While this can keep your monthly costs down, opting for higher coverage limits gives you more financial protection for your possessions.

For renters in Georgia seeking $20,000 in personal property coverage with a $2,000 deductible, the cheapest option is State Farm, with an annual premium of $104. The top two providers for the same coverage are:

• State Farm: $104 per year
• Chubb: $119 per year

A deductible is the amount you pay out-of-pocket before your insurance kicks in. A deductible can significantly affect your costs. Higher deductibles usually result in lower premiums. Below, you can see how rates change with specific providers.

Chubb stands out as the best renters insurance company for service quality in Georgia for $20K in personal property coverage, with an annual premium of $141. Here are the top two providers in Georgia for those who value great customer service:

• Chubb: MoneyGeek score of 92 out of 100 ($141 per year)
• Nationwide: MoneyGeek score of 89 out of 100 ($199 per year)

Great customer service is vital for renters seeking insurance since it ensures a seamless process during stressful situations. Imagine experiencing a quick resolution when you make a claim, with clear communication throughout the process.

State Farm is the best renters insurance company for renters who need $100K of personal property coverage in Georgia, with an annual premium of $284. For the same coverage, the following providers are the top two in Georgia:

• State Farm: MoneyGeek score of 95 out of 100 ($284 per year)
• Auto-Owners Insurance: MoneyGeek score of 85 out of 100 ($361 per year)

Personal property coverage helps replace personal items like furniture, electronics and clothing in case of damage or theft. Higher personal property coverage often comes at a higher cost. Finding a provider who balances cost and great service is crucial since you want both affordability and reliability when covering many valuables.

USAA is the best renters insurance company for renters with military backgrounds in Georgia. With an annual premium of $130 for $20K in personal property coverage, USAA is exclusively for those with military backgrounds. The following are the top two providers in Georgia for military members:

• USAA: MoneyGeek score of 100 out of 100 ($130 per year)
• State Farm: MoneyGeek score of 95 out of 100 ($122 per year)

USAA offers a range of products tailored for those with a military background, offering discounts and coverages that suit the military lifestyle.

In Georgia, the best renters insurance company for those with poor credit is Chubb with an annual premium of $238. The following are the top two providers in Georgia for those with poor credit:

-Chubb: MoneyGeek score of 97 out of 100 ($238 per year) -Travelers: MoneyGeek score of 95 out of 100 ($196 per year)

Rates for those with poor credit are often higher, as they pose a greater risk to providers. They may have a history of missed or late payments. Those with poor credit can take steps to improve their credit to lower rates and take advantage of discounts where possible.

The average cost of renters insurance in Georgia is $175 annually or $15 monthly, compared to the national average of $146 annually. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, and a $1,000 deductible.

The average cost of renters insurance in Georgia may vary greatly depending on the amount of personal property coverage you purchase. Use the tool below to get an estimate for your renters insurance based on your needs.

The average cost for renters insurance varies by state and city. For example, the average cost in Atlanta is $194, while in Athens-Clarke, it is $167. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, a $1,000 deductible, and a good credit score. Use the table below to see the average cost in your city.

Multiple factors impact the cost of renters insurance in Georgia, including location, coverage amount, and credit score. Understanding these factors is important for making informed decisions and potentially lowering your premiums. Below are some key factors that affect renters insurance costs:

• Location: Areas with higher crime rates or natural disaster risks tend to have higher premiums.
• Coverage Amount: Higher coverage limits generally result in higher costs.
• Deductible: Choosing a higher deductible can lower your premium, but you'll pay more out-of-pocket in a claim.
• Credit Score: Insurers often use credit scores to determine rates, with lower scores leading to higher premiums.
• Claims History: A history of frequent claims can result in higher insurance costs.

Determining your personal property coverage as a renter starts with a thorough personal inventory of your belongings, along with their estimated value and proof of ownership. Here's how to create one:

1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Renters insurance does not cover everything; for instance, it typically excludes flood damage and your roommate's belongings. Here's a closer look at what renters insurance doesn't cover:

• Flood Damage: Standard renters insurance policies do not cover damage caused by flooding.
• Roommate's Belongings: Your policy does not extend coverage to the personal belongings of your roommates.
• High-Value Items: Items like jewelry or expensive electronics may require additional coverage.
• Business Activities: Any business-related activities conducted within the rental property are generally not covered.

Choosing the best renters insurance provider ultimately depends on your individual needs. To help you make an informed decision, we've answered some of the most frequently asked questions about renters insurance.