Frequently Asked Questions
- How Much is Renters Insurance in Georgia?
- Does Renters Insurance Cover Items Outside of My Home?
- What Does Renters Insurance in Georgia Not Cover?
- Who is Covered on Your Renters Insurance Policy?
- Does Renters Insurance Cover Family Members?
- Does Renters Insurance in Georgia Cover Roommates?
- Does Renters Insurance Cover Partners and Significant Others?
- Is an Additional Interest the Same as an Additional Insured?
How Much is Renters Insurance in Georgia?
The state average for renters insurance in Georgia is about $25 per month or $300 per year. This assumes a deductible of $500, personal property coverage of $30,000, and liability coverage of $100,000. One way you could save on coverage is to bundle your renters insurance with auto coverage.
Does Renters Insurance Cover Items Outside of My Home?
One of the best things about renters insurance is that it can cover items outside of your home:
- Your belongings are stolen while in a storage facility
- Your belongings are damaged in a moving truck
- Your belongings are stolen while you’re traveling (even abroad)
But there’s a catch: renters insurance often offers less coverage for damage or theft outside your primary residence. In addition, the same rules apply for covered perils inside of your home.
What Does Renters Insurance in Georgia Not Cover?
As you might expect, there are limits to what renters insurance can cover. Typically, you cannot make a claim against your renters insurance in the following situations:
- Damage to property that’s not your fault. If you’re not at fault for damage to your rental property, then your landlord would be responsible for the damage.
- Negligence on your part. If you forgot to lock your door and someone steals something while you’re gone, then the chances are that your renters insurance won’t cover you.
- You caused accidental damage. Your best option is to review the item’s warranty policy and check the accidental damage coverage.
- Special and valuable personal property. Like cash, checks, trading cards, firearms, etc.
- When your items are in someone else’s possession. Your items must be in your direct possession for them to be covered by the renters insurance.
- Loss or Misplacement. You cannot make a claim for property that you have lost or misplaced.
- Flooding and Earthquakes. While renters insurance often protects against water damage from pipes, it does not protect against flooding due to natural disasters.
Who is Covered on Your Renters Insurance Policy?
Your renters insurance policy will always list you, the policyholder, as covered. However, you may not be living alone, and sometimes your landlord or leasing company wants to make sure that you have the right renters insurance coverage.
Does Renters Insurance Cover Family Members?
Typically, renters insurance automatically covers your blood relatives, spouse or domestic partners, and adopted children who live with you. So if your adult son or daughter moves back in with you, your renters insurance policy should cover them as well.
However, keep in mind that your coverage does not automatically adjust to account for extra home residents and their belongings. For example, if you’re covered by a $30,000 personal property policy and your son moves in with $10,000 worth of furniture and electronics. You should consider increasing your policy limits to $40,000 to ensure that everyone’s belongings are still fully covered.
Does Renters Insurance in Georgia Cover Roommates?
By default, roommates are not covered in a renters insurance policy, even if the roommates are all on the lease. It’s possible to add a roommate to a renters insurance policy by adding your roommate as an “additional insured.” However, it is strongly recommended that roommates purchase their own rental insurance policy.
Does Renters Insurance Cover Partners and Significant Others?
Partners, significant others, boyfriends, and girlfriends are not covered by your renters insurance policy if you’re not in a legal relationship (marriage or registered domestic partnership) with them, even if you live together and are both on the lease. It’s possible to add your partner as an “additional insured” to your renters insurance policy. However, just like with roommates, adding someone to your policy can be a risky decision. That’s why it’s recommended that you have a serious conversation with your partner before deciding to add them to your policy.
Is an Additional Interest the Same as an Additional Insured?
Though renters insurance is not legally required in Georgia, it’s common for landlords and leasing companies to require minimum renters insurance coverage as part of the lease agreement. If you’re required to maintain renters insurance as part of your lease agreement, then the chances are that your landlord or leasing company needs to be named as an “additional interest,” also known as an “interested party” or “third-party designee.” This means that the insurance company will notify your landlord if there are any changes to your renters insurance coverage.