Looking for renters insurance in Georgia? Well, you’ve come to the right place!
Whether you’re in Georgia to study, work, play, or anything in between, you might want to cover your stuff with renters insurance.
We’ll take you through the basics of renters insurance coverage, including:
- How much does renters insurance cost in Georgia?
- What does renters insurance cover in Georgia?
- Is renters insurance required in Georgia?
- What’s the right amount of coverage to get?
- How can you save on renters insurance?
How much does renters insurance cost in Georgia?
The average cost of renters insurance insurance in Georgia is $27/month in 2024, according to ValuePenguin.com.
Various factors can influence your premium and determine how much you actually end up paying for renters insurance. But overall, it tends to be a fairly economical way to protect your valuables and defend against many unfortunate things that you might experience as a renter.
What does your renters insurance cover in Georgia?
Okay, so you get that a renters insurance policy is a great idea in theory… but obviously you’re curious about what it can actually do for you. Let’s break down the components of what your policy covers and your coverage options.
Personal Property
‘Personal property coverage makes sure your stuff, your personal belongings, is protected, whether you’re relaxing at your apartment or traipsing across Europe. So if your living room furniture is ruined due to water damage from that burst pipe, or your phone is stolen while you’re taking a trip to Berlin, your renters insurance policy has your back. Some exclusions may apply.
Loss of Use
What about if disaster strikes? If you can’t stay at your home because of covered losses (like a fire or windstorm), your loss of use coverage provides reimbursements for temporary housing and additional living expenses such as food, laundry, hotel parking, and more.
Liability coverage
If someone is injured in your apartment, or anyone on your policy causes damage to someone else’s property or stuff, your insurance company should have things like legal fees and property damage covered with liability protection.
Medical Protection
Your insurer covers medical expenses if your guests get injured at your place, or if you accidentally hurt people outside of your home as well. Note that your renters insurance policy does not cover medical payments if you or someone residing with you are injured—only non-residents and guests.
Is renters insurance required in Georgia?
While there’s no law requiring that you purchase renters insurance in Georgia, your individual landlord might specifically require it. And if your lease specifies that you need renters insurance, well… that’s that.
The good news is that it’s easy to sign up for affordable renters insurance with Lemonade, and you’ll thank yourself later if your stuff gets stolen or damaged!
In terms of reported claims in Georgia, Lemonade has found that the most common ones involve water damage, theft, and weather-related damage.
When signing up, your landlord might request they be added as an ‘interested party‘ on your policy. This just means they’ll be kept in the loop when you make any policy changes—or if you cancel your policy. It’s super easy to add them using the Lemonade mobile app.
What’s the right amount of coverage to get?
There’s no easy answer to that question, and it depends on how much stuff you have to cover, and what it’s worth. As we discussed above, your policy has a few main categories: Contents (your stuff); Loss of Use (temporary living expenses); and then personal liability and medical bills.
You’re able to set the coverage limits for these categories when you sign up for a Lemonade policy. Lower coverage limits might save you a few bucks off the cost of renters insurance—but they might also leave you with insufficient coverage when you have to make a claim. You’ll also need to figure out your deductible. It’s a balancing act and one that requires you to think about your property and lifestyle. Take a few minutes to apply to see your renters insurance quote to get a sense of your insurance options.
Also, if you’ve got valuables that are especially pricey or important—things like engagement rings, fancy cameras, musical instruments, or artworks—you can add ‘scheduled personal property coverage’ for those items. At Lemonade, we simply call it ‘Extra Coverage’—here’s a bunch more info about that. Apply for a renters policy to see Lemonade coverage is right for you. It’s fast, easy, and dare we say—fun?
How to save on renters insurance in Georgia
In addition to renters insurance, Lemonade also offers term life insurance and pet health insurance in the state of Georgia, and depending how you bundle your policies, you can be eligible for savings and lower costs. Click below to explore your bundle discount options when combining renters insurance with pet insurance.
There are other ways to lower the cost of your renters insurance:
- Lowering your coverage limits can reduce your premium. However, saving a bit of cash up front could leave you vulnerable to paying more out of pocket later, in the event of a claim.
- Raising your deductible might also lower your premium—but again, this means you’d be liable for more out of pocket expenses in the future.
- Investing in safety and security services, like fire alarms or burglar alarms, can also make you eligible for discounts.
