More on Home Insurance
More on Home Insurance
The average cost of homeowners insurance in Savannah is $2,817 per year. Read our guide to the best companies, policy cost, and coverage considerations in Savannah.
The average homeowners insurance rate in Savannah is $2,817 . That said, the cost of coverage will vary depending on your home’s build and location, as certain Savannah neighborhoods are more susceptible to particular hazards than others. Being an Atlantic Coast city, Savannah is at high risk of tropical storm damage once hurricane season rolls around. Area residents should make sure they have comprehensive homeowners insurance to protect their homes against heavy winds and rainfall.
Whether you’re shopping for homeowners insurance for the first time or switching policies for a cheaper rate, it’s important to shop around for different policy offerings from multiple companies. To help simplify this process, we identified the top insurers in Savannah by market share and broke down the cost of coverage by neighborhood and company based on hundreds of quotes submitted with Policygenius.
The average annual homeowners insurance premium in Savannah is $2,817
The highest rated homeowners insurance company in Georgia is USAA
Homeowners in Savannah should consider flood insurance. If you live in a high-risk flood area of Savannah you may be required to get flood insurance
Cost is important, but it shouldn’t be the only factor when determining which homeowners insurance company to choose. When shopping for homeowners insurance, look for an insurance company that has a good financial standing with credit agencies like A.M. Best. Customer service is also important — you want an insurer who is communicative and trustworthy — so you should also check customer service and claims ratings with J.D. Power.
The table below looks at the 10 most popular insurers (companies with the highest market share) in Georgia, along with respective A.M. Best ratings, J.D. Power ratings, and Policygenius full-scale company ratings. Here’s more information about the Policygenius home insurance reviews methodology.
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The median annual cost for homeowners insurance in Savannah is $2,817, according to quotes submitted with Policygenius. This makes rates in Savannah higher than the average annual homeowners insurance premium in Georgia, which is $1,267. Keep in mind that Savannah experiences more inclement weather because of its proximity to the coast, and that construction costs tend to be higher in population-dense cities like Savannah, all of which may result in more expensive premiums.
Homeowners insurance does cover certain types of water damage, but flooding is not one of them. Since Savannah experiences heavy rainfall and flooding, purchasing additional flood protection is essential for Savannah homeowners. Flood insurance is another monthly cost for homeowners, but it could save you hundreds of thousands of dollars if disaster strikes.
Homeowners insurance doesn’t cover flooding, so coastal residents will want to fill that gap in coverage with flood insurance. Chatham County participates in the National Flood Insurance Program (NFIP), which means that local insurers can sell flood policies at a federally subsidized rate. In fact, if your residence is located in a Special Flood Hazard Area, and there is a federally backed mortgage associated with your home, you may be legally mandated to have flood insurance, according to the Chatham County Department of Engineering.
In addition to floods, strong winds and thunderstorms can result in damage to homes in Savannah. You can protect yourself from these common perils by adding additional protection like replacement cost contents coverage, which ensures you will be fully reimbursed for your losses.
Homeowners insurance companies use your ZIP code as one of the factors in determining your rates. If you live in an area of Savannah with a high burglary rate, your premiums may be more expensive. Homeowners insurance covers theft, so if your home is burglarized your insurer may pay to replace your belongings. That said, the total property crime in Savannah decreased by 10.2% from 2017 to 2018, according to the annual 2018 Savannah Police Department Crime Report.
Homeowners insurance is not required by law in Savannah, or in any part of Georgia, but most mortgage lenders will require that you get homeowners insurance and maintain coverage throughout the duration of the mortgage. In addition, you may be legally mandated to obtain flood insurance, if your home is located in a certain high risk flood area of Savannah and is backed by a federal loan.
The Georgia Department of Insurance investigates policyholder complaints and responds to insurance related questions and concerns of Georgia residents. The Department of Insurance aims to resolve disputes between insurers, agents, and policyholders in an equitable and fair manner.
If you have an issue with a transaction or a different complaint involving your homeowners insurance company, you should consider contacting the Georgia Department of Insurance with your complaint using their online complaint portal. You can also mail in your complaint, however it’s faster if you complete the whole process electronically.
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