What factors affect your Georgia Homeowners Insurance costs?

by owner

Have you ever wondered what influences the cost of homeowners insurance in Georgia? Homeowners’ insurance premiums vary widely because they are based on insurance risk. Let’s look at just a few of the many factors that might influence insurance providers’ premium charges:

  • Homes in neighborhoods with high incidence of break-ins have higher premiums than homes in low-risk neighborhoods.
  • Homes that are some distance from a water source such as a fire hydrant are more expensive to insure; this is because any delay in extinguishing a house fire increases the risk of damage and the cost of restoration.
  • A large home constructed from high quality materials costs more to replace and is therefore more expensive to insure than a smaller home built from standard materials.
  • The standard of a home’s electrical installation influences insurance premiums.  A home where electrical wiring has been renewed to code standards is at lower risk of fire damage and costs less to insure than a property with outdated wiring.
  • Roofs have a finite life; premiums may be lower for a home with a new roof than a similar one that has a roof that is reaching the end of its service life.

It’s not only the building and its location that affect insurance risk. A householder who has a poor insurance score (a measure of insurance risk based on financial information such as credit history) may have to pay higher insurance premiums than a policy holder who has a good insurance score. Many complex factors come into play when insurers calculate insurance risk and premiums for homeowners insurance in Georgia. But we are here to guide you through the process so you can keep your entire family protected!

Common home insurance questions:

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