Georgia Home Insurance Policies

Georgia home insurance companies offer a variety of different policies meant to cover different types of disasters, events and residential situations. Mortgage companies require that borrowers purchase Georgia home insurance for their homes as a way to protect themselves from potential loss of investment. Most lenders only require basic coverage from Georgia home insurance companies. These basic policies cover damage due to wind and hail, fire, smoke and lightning, explosions, aircrafts, vehicle intrusions, and burglary or vandalism.

Georgia home insurance companies also sell expanded coverage that protects homeowners from liability claims. For instance, if a visitor to your property is somehow injured due to your alleged negligence, you would be protected from legal action as a homeowner by your Georgia home insurance liability coverage.

Georgia home insurance companies that are affiliated with the National Flood Insurance Program, a program overseen by FEMA, can also sell flood insurance to its clients. Flood insurance is always sold as a separate policy from basic Georgia home insurance plans. Because flood insurance is regulated by the Federal Emergency Management Agency, all premium rates are set by the government. These rates are based on estimated risk and geographic location. For instance, high-risk homeowners in Georgia pay the same amount for flood insurance through Georgia home insurance companies as do high flood risk homeowners in Missouri.

Georgia home insurance law states that some houses must be protected by flood insurance. This requirement is based on the geographic location of the home, and on the historic incidence of flooding in the area. If you are unsure whether or not to purchase flood insurance from your Georgia home insurance company, you can check with FEMA to find out whether or not it is suggested or required for your home and location.

Before you experience a loss, it is important to know the limitations on your Georgia home insurance policy. Often times, these limitations are put in place to protect the Georgia home insurance company from fraud or false claims. For instance, some Georgia home insurance policies do not cover jewelry, guns and expensive china or silverware from theft. You may be required to take out a separate Georgia home insurance policy on an expensive piece of jewelry that you keep in your house, or you may be able to add a rider to the policy, and a premium increase, that allows for the particular piece to be covered.

Georgia home insurance premiums are based on a number of factors, including your home’s location and construction type, the size, age and market value of the home, and the worth of the possessions housed inside. Georgia home insurance companies also consider how close the nearest first station is, how well secured the home is, and the amount of the deductible that you choose. Though many of these factors are beyond a person’s control, setting the deductible is one way to adjust you Georgia home insurance premium. The lower the deductible is, the higher your Georgia home insurance premium will be. Because of this, it is better to set a high Georgia home insurance deductible and to save on your monthly premiums as long as you have enough money saved up to immediately cover your deductive in the case of a major loss.
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