The Best Cheap Renters Insurance in Georgia

NerdWallet analyzed rates from more than a dozen carriers to find Georgia’s cheapest renters insurance companies.
Sarah SchlichterOct 5, 2021

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Georgia has the second-highest renters insurance rates in the U.S. — behind only Louisiana — according to NerdWallet’s analysis. But that doesn’t mean you can’t find affordable coverage. We analyzed prices from more than a dozen companies across the state to find the cheapest renters insurance in Georgia.

How much is renters insurance in Georgia?

The average cost of renters insurance in Georgia is $243 a year, or about $20 a month. That’s much higher than the national average of $168.

Atlanta renters insurance is even more expensive, at $269 a year on average. Below are the average renters insurance rates in Georgia’s 25 largest cities.

City

Average annual cost

Average monthly cost

Atlanta

$269

$22

Marietta

$242

$20

Lawrenceville

$242

$20

Savannah

$243

$20

Augusta

$239

$20

Columbus

$247

$21

Macon

$239

$20

Cumming

$235

$20

Gainesville

$233

$19

Athens

$235

$20

Norcross

$244

$20

Johns Creek

$241

$20

Douglasville

$244

$20

Roswell

$245

$20

Sandy Springs

$250

$21

Kennesaw

$242

$20

Woodstock

$238

$20

Acworth

$238

$20

Mcdonough

$245

$20

Valdosta

$237

$20

Albany

$239

$20

Lithonia

$267

$22

Canton

$236

$20

Decatur

$267

$22

Stone Mountain

$258

$21

Cheap renters insurance companies in Georgia

Despite the expensive rates above, there are options for cheap renters insurance in Georgia. Below are companies with rates below the state average.

Company

Average annual cost

Average monthly cost

Georgia Farm Bureau

$118

$10

The Hanover

$150

$13

State Farm

$166

$14

Auto-Owners

$177

$15

Chubb

$228

$19

Alfa

$229

$19

Country Financial

$234

$19

ASI Progressive

$241

$20

USAA*

$156

$13

*USAA is available only to active military, veterans and their families.

About the cheapest companies

Georgia Farm Bureau: When weighing this company’s cheap rates, keep in mind that you’ll need to be a Farm Bureau member to buy its insurance. Membership costs $35 per year and includes discounts on travel and entertainment. Learn more about Farm Bureau insurance.

The Hanover: You can choose from several renters insurance packages — one with just the basics, and two with higher limits and extra types of coverage. The Hanover sells its policies through agents so you can talk through the options you need.

State Farm: 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.)

Auto-Owners: This Michigan-based company sells policies through independent agents. You may be eligible for discounts if you bundle your renters insurance with another policy, pay your premiums on time or enroll in paperless billing.

Chubb: Chubb caters mostly to wealthy renters, offering generous coverage and good service. The company receives far fewer home insurance complaints to state regulators than expected for a carrier of its size.

Alfa: You don’t need to be a farmer, but you must be a member of the Alabama Farmers Federation to buy Alfa’s insurance products. The cost is $33, and perks include a variety of travel, automotive and other discounts.

Country Financial: You can customize Country Financial’s basic renters policy with extra coverage for valuables, identity theft or damage from backed-up drains. The company receives fewer customer complaints to state regulators than expected for a carrier of its size.

ASI Progressive: If you have auto insurance with Progressive and renters insurance with this subsidiary, you could save with a bundling discount. Savings may also be available if you pay your bill in full upfront or elect to receive policy documents by email.

USAA: Unlike most insurance companies, USAA covers flood and earthquake damage as part of its standard renters policies. USAA insurance is available only to active military, veterans and their families.

Georgia renters insurance from the best companies

For a highly rated national insurer, consider one of these carriers from NerdWallet’s list of The Best Renters Insurance Companies.

Company

NerdWallet rating

Average annual cost

4.5

NerdWallet rating 

$166

Auto-Owners

4.0

NerdWallet rating 

$177

4.0

NerdWallet rating 

$250

4.5

NerdWallet rating 

$273

4.5

NerdWallet rating 

$328

4.0

NerdWallet rating 

$390

USAA*

5.0

NerdWallet rating 

$156

*USAA is available only to military, veterans and their families.

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

This type of storm brings two potential sources of damage — wind and water — but your renters policy may cover only one of them.

Flood damage is excluded from most renters policies, so if you live in a ground-floor apartment in an at-risk area, you may want to buy separate flood insurance.

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

Fire and smoke damage are covered by the vast majority of renters policies. 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 out 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 it. Earthquake coverage can be purchased 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.

The companies below charged the lowest rates in our analysis for renters with a recent theft claim.

Company

Average annual cost

Average monthly cost

Georgia Farm Bureau

$131

$11

The Hanover

$151

$13

Auto-Owners

$177

$15

State Farm

$204

$17

Chubb

$228

$19

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

Many insurers use a credit-based insurance score, similar to a traditional credit score, to set renters insurance rates. The better your credit, the cheaper your renters insurance may be.

If you’ve got an uneven credit history, consider one of the following companies. They offered the cheapest Georgia renters insurance for those with poor credit in our analysis.

Company

Average annual cost

Average monthly cost

The Hanover

$210

$18

Georgia Farm Bureau

$217

$18

Travelers

$328

$27

Country Financial

$333

$28

State Farm

$364

$30

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

Georgia's Office of Commissioner of Insurance and Safety Fire has a website where you can check whether agents are licensed and file a complaint against your insurer. For personalized help, you can call the Consumer Services Division at 800-656-2298.

Methodology

NerdWallet averaged rates for 30-year-old men and women from insurance companies in every ZIP code across Georgia. Sample tenants were nonsmokers with good credit living in a two-bedroom apartment.

They had a $500 deductible and the following coverage limits:

  • $30,000 in personal property coverage.

  • $100,000 in liability coverage.

  • $10,000 in additional living expenses coverage.

  • $1,000 in medical payments coverage.

We used the same assumptions for all other renter profiles, with the following exceptions:

  • We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for renters with poor credit.

  • For renters with a history of claims, we added a single theft claim to their record.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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