Georgia Landlord Insurance

Find Affordable Georgia Landlord Insurance

Renters occupy approximately one third of all homes in Georgia. For some enterprising residents in this state, working as a landlord can provide either a bit of extra income or serve as the main source of earnings. If you are thinking about investing in a rental property or if you are moving and are considering renting out your home rather than selling it, protect your investment with a Georgia landlord insurance policy.

An independent insurance agent in the Trusted Choice® network can help you find a suitable landlord insurance policy. These agents can clarify your coverage options and can answer your insurance-related questions. Contact a member agent in your neighborhood today to receive a selection of competitively priced Georgia landlord insurance quotes.

  • Marietta: 62.4%
  • Atlanta: 56.3%
  • Sandy Springs: 54.3%

There are several reasons why people rent their homes. Many were hit hard by the recent recession and are renting because they lost their homes to foreclosure or because it is a more affordable housing option. Those who attend or work at any of Georgia’s colleges or universities frequently rent because their living arrangements may be temporary. Still others rent because they prefer to avoid the hassles that go along with home ownership.

What Georgia Landlords Charge for Rent

  • Less than $200: a total of 58,334 renters, making up 6.0%
  • $200 to $299: a total of 55,958 renters, making up 5.8%
  • $300 to $499: a total of 201,087 renters, making up 20.9%
  • $500 to $749: a total of 301,088 renters, making up 31.2%
  • $750 to $999: a total of 200,611 renters, making up 20.8%
  • $1,000 to $1,499: a total of 75,550 renters, making up 31.2%
  • $1,500 or more: a total of 13,285 renters, making up 1.4%
  • No cash rent: a total of 58,533 renters, making up 6.1%
  • The median cost to rent a home in Georgia: $613

Georgia landlords can benefit from the demand for affordable and temporary housing. Regardless of whether you are renting out a luxury apartment in downtown Atlanta or are providing a short-term lease to a visiting University of Georgia professor in Athens, protect your investment with a comprehensive Georgia landlord insurance policy.

Georgia Landlord Insurance Covers Property Loss and Damage

Traditional homeowner’s insurance policies often will not provide coverage for damages to your property if it is occupied by tenants. You will need a different sort of policy, called a landlord insurance policy, to obtain coverage for loss, damage or liability expenses that occur in your rental homes.

Your tenant will need to provide coverage for their own personal belonging through a renters insurance policy. As the landlord, you are responsible for covering damages to the exterior of the home, your own personal property kept inside the home and any liability expenses that may arise if someone is injured on your property.

A normal amount of wear and tear in a renter-occupied home is to be expected, but sometimes tenants may cause or allow very expensive damage to occur. Weather events, particularly those that bring heavy winds or hail, can also lead to damages both to the structure of the home and to any of your personal property, such as rugs and light fixtures, kept within.

Premiums for landlord insurance policies typically run about 25 percent higher than for traditional homeowners policies. This is because there are more inherent risks involved when tenants are part of the picture.

Georgia Burglary Statistics

  • More than 95,000 burglaries occur in this state each year
  • The burglary rate in the state is 9.75 per every 1,000 homes
  • This national rate is 7.02 per every 1,000 homes

Burglaries and other property crimes, such as arson and vandalism, may result in property loss or damage. You are not responsible for compensating for the loss of any personal belongings stolen from your tenants; that would need to be covered by a renters insurance policy. However, a burglary can also result in damage to your rental home such as a broken door or window. In the event that any of your own personal belongings in the home are taken, your landlord insurance policy will provide compensation for your loss.

Georgia Landlord Insurance Covers Liability Expenses

Your landlord insurance policy will also protect you from liability charges that may be levied against you if a tenant or a tenant’s guest is injured on your property. Other examples of things you may be held liable for include medical expense if there is a carbon monoxide leak in the home or if faulty wiring leads to a fire. If the rental home becomes uninhabitable, you may also have to pay for temporary lodging for your tenant. The liability limits on your landlord insurance are important to be aware of, as you might consider raising them depending on the assets you need to protect. Speak with your insurance agent about the coverage that would be best for your needs and budget.

Find the Right Georgia Landlord Insurance Policy

Comparing a variety of insurance quotes can help you ensure that you are getting a great policy at a reasonable rate. Whether you do it online or by telephone, however, comparison shopping can often be time-consuming and frustrating. Working with an independent agent in the Trusted Choice network can simplify the process. These agents have relationships with several different insurance carriers and can therefore easily provide you with an assortment of competitively-priced policies from which to choose.

Agents in the Trusted Choice network can be found in more than 27,000 member agency locations across America, many within the state of Georgia. A member agent in your neighborhood can assist you with all your insurance-related needs and can review your other current policies to make sure you’re getting the best rates. Contact an agent in your neighborhood today to start comparing a selection of Georgia landlord insurance quotes.

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