Statistics About The Average Home Insurance Cost Georgia

In this post, we explore the average home insurance costs in Georgia, delving into various statistics and trends that impact homeowners in the state. From differences based on home age and location to the potential savings through bundling insurance policies, we uncover key insights to help Georgia residents make informed decisions regarding their home insurance coverage.

Statistic 1

"The average annual homeowners insurance premium in Georgia is $1,267."

Statistic 2

"The price of homeowners insurance in Georgia is higher than the national average by nearly 3%."

Statistic 3

"For new homes in Georgia, the average insurance cost is $1,348 per year."

Statistic 4

"For homes over 50 years old in Georgia, the average insurance cost increases to $1,433 per year."

Statistic 5

"In Georgia, manufacturing homes average $1,319 annually for home insurance."

Statistic 6

"The fluctuation in average home insurance premiums in Georgia reaches up to 88%, depending on the city."

Statistic 7

"Georgia homeowners with a past claim experienced a 20% increase in their insurance rates."

Statistic 8

"North Atlanta has the highest average annual homeowners' insurance premium in Georgia at $1,675."

Statistic 9

"The city with the lowest annual homeowners' insurance premium in Georgia is Valdosta with the average premium of $862."

Statistic 10

"Atlanta homeowners pay about $108 monthly for home insurance, which is higher than the Georgia state average."

Statistic 11

"In Georgia, the average cost for $100,000 dwelling coverage is around $580 annually."

Statistic 12

"The average home insurance premium for a $2,000,000 home in Georgia is about $5,840 annually."

Statistic 13

"Georgia has the 10th highest average annual premium rates for home insurance in the United States."

Statistic 14

"Georgia homeowners can save up to 25% on their home insurance premiums by bundling with auto insurance."

Statistic 15

"Writers of Homeowners insurance in Georgia have a direct premium written value of $3,169,815."

Statistic 16

"In 2017, Georgia had a homeowners insurance penetration rate of 69.2%."

Statistic 17

"Insurance companies in Georgia are allowed to add a hurricane deductible to homeowner insurance policies, which can increase insurance costs for homeowners."

The statistics on home insurance costs in Georgia indicate that homeowners in the state face above-average premiums, with rates varying significantly depending on factors such as the age of the home, location, and past claims history. Residents of North Atlanta pay the highest premiums, while those in Valdosta enjoy the lowest rates. Bundling with auto insurance can lead to substantial savings for Georgia homeowners, and the state ranks 10th in the nation for average annual premium rates. It’s important for homeowners to be aware of potential factors that can increase insurance costs, such as hurricane deductibles, and explore opportunities to lower premiums through strategic insurance decisions.