Renters insurance safeguards a tenant's personal property in their rented residence. Considering that 36% of residential dwellings in Georgia are rentals, over 1.6 million tenants need this coverage. Property damage or loss, temporary living costs in the event that a rented property is undergoing repairs, and liability coverage are commonly covered by renters insurance. Renters insurance can also protect personal property against theft.
Speak to a Georgia-licensed property insurance agent to get a renters insurance quote.
Renters insurance in Georgia is a type of property insurance that covers accidents that happen inside your rental unit but are not caused by a structural issue. Your landlord is liable for any injuries caused by structural issues. In other words, renters insurance protects tenants from the financial implications of unexpected events like theft, personal property damage, and personal liability.
Renters insurance in Georgia is designed expressly to protect people who live in rented homes. It offers liability protection, coverage for damage to their property, and temporary loss of use of their rental property due to a covered loss.
As a tenant, you have no full control over your neighbors or their actions regardless of how cautious you are. For instance, they may fall asleep with a candle burning, which could ignite a large fire. This and many other risks may affect you, leaving you to pay out of pocket for what was not caused by you. Renters insurance in Georgia can cover unexpected events and pay for damage or losses due to such events.
In Georgia, renters insurance safeguards the personal property of people renting a home or an apartment from unforeseeable hazards. It covers additional living expenses if you have to move out of your rented home temporarily due to ongoing repairs. Renters insurance also covers costs that may result from third-party liability claims. Tenants are covered by renters insurance in case of fire, burst pipes, theft, and other similar incidents. If a risk covered by renters insurance causes a tenant to temporarily relocate to a new living space, loss of use coverage will pay for additional living expenses, such as housing and feeding. Your personal property is also covered by renters insurance while traveling and away from your home.
The highest proportion of rental properties in Georgia is in Chattahoochee County, where nearly 76% of residential dwellings are for rent.
Yes. Only the person identified as the policyholder, or anyone related to or married to them, is covered by a renters insurance policy. If you reside in a shared rented apartment in Georgia and everyone contributes to the rent, it is essential for each person to purchase their own policy.
While renters insurance is not a requirement for all roommates, sharing your home with strangers increases the potential of theft.
Listed below are the advantages of purchasing your own renters policy:
The amount you will be reimbursed by your insurer after a covered event depends on the type of renters insurance policy you have. The two main types of renters insurance in Georgia are:
Yes. Although renters insurance is not required by law in Georgia, it is very important. Renters insurance will save you from out-of-pocket payments on insurable risks. Renters insurance covers losses to personal property and provides liability coverage. Reach out to a knowledgeable property insurance agent to get a renters insurance quote.
You need renters insurance in Georgia to guard against potential financial losses from unforeseen risks in your leased apartment. For instance, if your home is broken into or your property is damaged, you can file a claim with your insurer if you have renters insurance.
According to the Georgia Bureau of Investigation (GBI), a burglary occurs in the state every 26 minutes, while larceny and theft are 5 times more frequent - happening every 5 minutes and 8 seconds.
Your renters insurance policy can be of help if you need to find temporary accommodation because your property was damaged or destroyed. It can also pay for legal services if you are sued for a third-party injury that occurred on your rented property.
Consider how much it will cost to fix or replace items in your leased home in the case of a covered peril to determine how much renters insurance you need in Georgia. The insurance coverage you choose should be sufficient to cover the cost of the asset you want to protect and contain a fair amount of personal responsibility. Location, property size, deductibles, credit score, and even the number of safety and preventative features your home has may all determine how much renters insurance you need.
Most renters insurance policies in Georgia come with $100,000 of minimum liability coverage, which is typically enough for an average tenant. If you think that you need more, seek advice from a licensed insurance agent.
To save money, you may choose not to get burglary or theft coverage as a renter in a neighborhood with a low crime rate or in a well-secured building. In this case, you can select a specified or named perils insurance policy and list the risks that this policy should cover. This is because all risk coverage costs more than named-peril plans. Typical renters policy in Georgia can cost $25 - $55 per month, depending on the selected coverages.
Make sure to speak with a Georgia-licensed P&C insurance agent before you buy any insurance coverage, so they can advise on the most suitable and affordable renters policy for your needs.
There are three main coverage options for renters insurance in Georgia, and you may choose a single coverage type or negotiate a policy that combines multiple coverage types. Consult a certified insurance agent in Georgia for assistance in determining which coverages to add or eliminate based on your needs.
No. Georgia does not have legislation requiring renters insurance, but some landlords may insist on it if you want to lease and live in their property. Since your landlord’s insurance does not cover damage to your personal belongings, it is typically a good idea to get at least renters insurance for additional protection.
Renters insurance is a way to transfer risk from you to your insurance company. By accepting your premiums, your insurance company becomes liable to pay for a covered peril listed in the contract. A standard renters insurance policy offers three coverage options. Each coverage option covers different incidents. The following are the major coverage options you will find in most renters insurance policies:
|Renters Insurance Coverages||What it Covers|
|Loss of Use||Pays for additional living expenses like feeding and fueling if you have to vacate your rented apartment temporarily|
|Personal property||It covers appliances, furniture, clothing, and other personal possessions in a rented home|
|Medical payments/Liability||Covers injuries to other people in your rented apartment/ damage to their property|
Other coverage types can still be added to these basic ones.
Renters insurance in Georgia can be purchased as the Actual Cash Value policy (ACV) or Replacement Cost Value policy (RCV):
Since it pays you more in case of a claim, RCV renters insurance is usually more expensive.
To find out more about how renters insurance works in Georgia and the suitable coverage options for you, speak to a licensed P&C insurance agent.
In Georgia, renters insurance provides coverage for your personal properties in a rented property and covers legal fees and medical expenses for liability claims against a policyholder. Renters insurance primarily covers everything you own in a rented home. For instance, if you move into an already furnished apartment, your policy will not cover those fixtures because they belong to your landlord. Also, if your rental home is being repaired after a covered incident, your renters insurance policy can reimburse you for temporary lodging and living expenses. The insurance policy you have often determines the scope of protection and the things covered by the policy.
Renters insurance generally provides coverage for the following:
If you experienced a covered loss or damage in your rented apartment in Georgia, renters insurance would ensure that you do not bear the financial responsibilities of repairing or replacing damages or lost items. Expenses for staying in a different place while your rented apartment is being repaired can also be covered. If you are sued for an injury that happened in your home, renters insurance can also pay your legal costs. To find out more about the benefits of renters insurance in Georgia, speak with a licensed and knowledgeable P&C insurance agent.
Personal property, personal liability, and additional living expenses coverage are three key components of a Georgia standard renters insurance policy. Your renters insurance will protect you if a friend trips and gets hurt in your apartment. It will also protect you against fire damage and theft. Also, if a policyholder owns a pet and the pet bites a third-party, renters insurance will cover the medical bills and the legal fees if such a person decides to sue. Contact a qualified Georgia-licensed P&C insurance agent to understand what your renters insurance policy covers and its list of exclusions.
Renters insurance in Georgia primarily protects the policyholder, their spouse, and any family members residing in the same rented apartment. Anyone under the policyholder's custody who is insured by their renter's policy is likewise covered. Third parties harmed in your house may also get assistance with medical costs from certain coverage types, such as liability protection.
Note: If the rented home has multiple unrelated tenants, in order for each roommate to have coverage, they all need separate renters policies.
Broadly, renters insurance protects the tenant’s personal property and covers their liabilities, in case someone gets hurt on the rental property. Let’s take a deeper at the coverages:
Yes. Renters insurance in Georgia provides coverage to the personal property listed in your policy. However, the amount of coverage you purchase, the exclusions, and the type of loss or damage will all affect the coverage extent.
Yes. A standard renters insurance in Georgia provides coverage for water damage as a result of leaks, burst pipes, or accidental overflows. Renters insurance also covers damages caused by leaking home appliances. For instance, if your washing machine leaks and ruins your carpet in the process, renters insurance will cover the damages.
NOTE: Renters insurance will not cover water damage caused by a sewage backup or flood. You will need to purchase add-ons to include them.
No. Renters insurance in Georgia does not cover damage to personal property due to flood. A separate flood insurance policy is required to cover flood damage in a rented apartment.
Flood insurance for rentals can be purchased through Georgia-licensed insurance agents licensed to sell the Federal Emergency Management Agency’s National Flood Insurance Program (NFIP) and other private flood insurers.
Yes. A standard Georgia renters insurance covers theft of personal possessions in a rented home. If your renters insurance policy includes personal property coverage, it can replace any stolen personal belongings.
TIP: Maintain copies of purchase receipts and pictures of the items themself for all expensive property in your home. In case of a theft or damage, such records will help you expedite the proof of loss, proof of ownership, and the rest of the claim.
Yes, similar to homeowners insurance, your renters insurance policy in Georgia will assist you in covering the cost of stolen items from your car, up to the policy limits purchased.
Many people ask; can renters insurance cover rent? The answer is yes. Renters insurance in Georgia covers loss of use, and your insurance provider will pay for living expenses like temporary house rent and feeding costs if your rented home becomes uninhabitable after a covered event. A typical renters insurance policy will specify a cap on loss-of-use coverage amount. Renters insurance will also cover the cost of fueling your vehicle if you are moving from your uninhabitable apartment to a temporary lodging while repairs are ongoing.
Yes. Renters insurance can cover your personal belongings in a storage unit as long as those items are mentioned under your renters insurance policy and are damaged by covered events
NOTE: Most renters insurance policies will only offer up to 10% coverage on personal belongings outside your rented home. However, you can extend the coverage amount.
Yes. Pet damage, like dog bites, is covered under the renters insurance liability coverage in Georgia. Your insurance company will help pay medical expenses of the bitten third party and legal fees if such an individual decides to sue. However, bites by certain dog breeds like Pitbulls are usually not covered because of their higher propensity to engage in behavior that can lead to claims.
The following breeds of dogs are most commonly excluded from renters insurance liability coverage in Georgia:
Rottweilers, and others.
If you own any of these large and frequently aggressive breeds, speak with a Georgia-licensed insurance agent who can advise you on the possible options of rental liability coverage.
Yes. If you have to move out of a rented home due to a covered incident in your Georgia renters insurance policy, the policy may cover the expense incurred while moving to another apartment.
NOTE: Renters insurance will not cover damages that occur while moving if it was caused by the moving company, which is why it is important to hire an insured moving company.
Some hazards are often excluded from renters insurance in Georgia. They consist of:
In Georgia, exclusions in renters insurance are primarily based on the kind of coverage you choose and the agreed-upon coverage amount. The following are often excluded from renters insurance:
Renters insurance policies in Georgia protect your possessions from theft, vandalism, or damage if you live in a rented home. For instance, if your art collection or expensive lawn mower are stolen, your renters insurance policy can replace them. Also, imagine that water from the faulty washing machine in your rented apartment damages your rug and other furnishings. Depending on your insurance plan, your renters insurance coverage can pay for the replacement or repair of the items in that situation. Your renters insurance coverage may cover the costs incurred if a house accident results in someone being hurt, and you are required to pay medical or legal costs if you are sued.
The two most common uses of renters insurance in Georgia are:
Renters insurance and homeowners insurance both provide financial coverage for the policyholders against legal liability costs, additional living expenses, third-party medical payments, and property damages. Homeowners insurance is for people who own their own homes, and it covers the structure of the home and their personal belongings inside the home. While renters insurance is commonly purchased by tenants, and it covers theft of and damage to their personal belongings in the rented apartment, but offers no financial protection to the apartment’s structure.
With over 1.6 million residences in Georgia as rentals, getting Rental insurance is the only way tenants can protect their belongings while residing in a property that does not belong to them:
You typically do not need renters insurance if you own your own home and have homeowners insurance. Renters insurance is only necessary for tenants in Georgia. If you own a home that you are renting out, and in the meantime you are renting a place to live - you need renters insurance to protect your belongings in a residence that you do not own.
To find out more about your renters insurance coverage options, speak with a Georgia-licensed P&C insurance agent.
If your parents carry renters insurance in Georgia and you reside with them, you do not need a separate renters policy. The family members of the insured who reside in the same rented apartment are also covered by the renters insurance policy. If you are a college student who lives on campus but visits your parents' rented home during the holidays, your parent’s renters insurance policy also usually protects you.
Yes. It is advisable to get your own renters insurance policy in Georgia even if you share a rented apartment with someone who has a renters policy. Only the policyholder and their immediate family members who share the same residence are covered by renters insurance. However, your roommate can add you to their renters insurance coverage but may remove you from the list at any time without your foreknowledge. On the other hand, your roommate may include you as an equal partner in the insurance, in which case you will be equally accountable for any claims made by the roommate and cannot be removed without notice.
If you live with your boyfriend who has a renters insurance policy, you still need renters insurance if you are not included in your boyfriend’s policy. Some insurance companies in Georgia, nevertheless, could be open to giving you and your partner shared coverage.
Make sure to speak with a licensed property insurance agent who specializes in rental insurance coverage in Georgia.
Yes, you need renters insurance in Georgia if you rent a room because the property owner’s homeowners or landlord insurance policy may not cover your personal property in the event of an insurable incident. If you rent a room in a house that does not have adequate homeowners or landlord insurance, you will need to get renters insurance coverage.
You do need renters insurance if you rent a house in Georgia, even if the home is covered by landlord’s insurance. Landlord’s insurance is exclusive to the property owner and safeguards their building structure, fixtures, and liabilities. You need renters insurance if you wish to secure your personal belongings and get your own liability protection in a rented house.
Unless you choose to postpone the effective date intentionally, your renters insurance policy coverage in Georgia kicks in immediately after you purchase it.
Renters insurance is available to all tenants in Georgia who want to financially safeguard their personal belongings against unanticipated perils and third-party liability claims.Tenants in rented buildings or those who rent and occupy single rooms in a house may obtain renters insurance. To find out what kind of renters insurance coverage is available to you, your best bet is to speak with a Georgia-licensed P&C insurance professional.
Anyone who rents a home in Georgia, whether an apartment or a house, through a lease or regular tenancy, is eligible for renters insurance. Family members who reside in a rented family home but are ineligible for coverage under their benefactor's renters insurance may also get renters insurance. Regardless of whether your parents' insurance covers you as a dependent, you may still purchase renters insurance if you rent a room in a building for additional protection for your belongings.
Renters insurance can also cover people who are not entirely tenants, but live in a house where their personal belongings are not covered under the homeowners’ insurance policy. For instance, if you live with a friend rent-free, in a home they purchased, you can purchase renters insurance for your personal belongings since you may not be named in their policy.
All tenants and lessors of residential property in Georgia need renters insurance to safeguard their personal property from unanticipated risks. Additionally, renters insurance shields a renter from third-party medical or legal liabilities. You may also need renters insurance in Georgia if your landlord requires it to rent out a home or an apartment to you. Any tenant, squatter, or visitor who wishes to have their personal property protected should consider getting renters insurance.
In Georgia, you should purchase renters insurance:
However, before you obtain renters insurance, consult with a Georgia-registered P&C insurance agent who can answer any questions you may have about renters insurance. A professional agent can advise you on the right coverages to purchase based on your needs.
In Georgia, renters insurance policy offers the following benefits:
Speak with a Georgia-licensed P&C insurance agent to learn more about the benefits of renters insurance and how to find affordable coverage.
While renters insurance protects the personal property of the renter, it does not provide as much protection as the policy that the owner of the home may be able to get.
Renters insurance offers the policyholder a number of advantages in Georgia. These include:
Although renters insurance has several benefits in Georgia, It has some drawbacks:
It is imperative to consult with a duly licensed P&C insurance agent in Georgia to ensure you purchase a policy that offers adequate coverage at an affordable rate.
Yes, renters insurance is worth purchasing in Georgia, especially if you live in a rented home and wish to protect your property from unforeseen losses and damage. It also offers financial alternatives in the event that you are held liable for someone else's injuries in your apartment due to your negligence and must cover their legal or medical costs. Speak with a Georgia-licensed P&C insurance agent to learn more about the value of renters insurance and the many advantages it provides tenants.
If any damage or theft occurs to your belongings at your leased property in Georgia, you may be forced to repair or replace them out of pocket if you do not have renters insurance. Similarly, if you are accountable for an injury that occurs on your rented property and you do not have renters insurance, you will cover the medical expenses and the legal fee if the person decides to sue.
Renters insurance in Georgia is important because it protects renters’ personal property against insurable perils and can cover liability claims. It prevents you from having to pay for the replacement or repair costs of stolen or damaged property covered by your policy.
In Georgia, you can keep your renters insurance coverage in force by timely paying your premiums. Otherwise, the policy will lapse, and you will lose coverage. However, prior to the expiration of your insurance coverage, your insurance company is obligated to give you a month's notice.
Check your renters insurance for the grace period term if your coverage has expired. Most Georgia insurance policies offer policyholders 30–31 days to make payment after the due date and maintain the coverage. A Georgia-licensed P&C insurance agent can assist you to understand your duties under the policy and advise you on what to avoid so that your policy does not lapse.
Before purchasing renters insurance in Georgia, you must first determine how much coverage you need. How much personal property you own in a rented home and how much risk you can take will determine which renters insurance to buy. While the value of your assets may increase more quickly than you might anticipate, you need to keep an accurate inventory to make sure that everything is covered.
Before settling for a home insurance company while trying to buy renters insurance in Georgia, make sure to obtain quotes from multiple insurers and compare rates. Moreover, you want to look at more than simply prices. Even similarly priced renters insurance policies can differ greatly in terms of what they cover. Compare policies with comparable terms and coverage amounts to be sure you are making accurate comparisons and getting the most out of your policy. The best renters insurance plans are cost-effective without sacrificing coverage, and they have a track record of being financially stable and popular with customers.
Having renters insurance in Georgia can save you a lot of money in the event of a covered peril. It is important to consult with a licensed P&C insurance agent before purchasing your renters insurance policy to ensure that the policy will serve its purpose.
Speak to an agent to get a renters insurance quote today.