Everyone wants to know if they’re paying too much. That’s a perfectly fair question to ask, actually. But to know if you’re paying too much for Athens, GA Renters Insurance, you need to know what other people are paying. Most of those people aren’t going to tell you that on an individual basis. But you can get an idea of what a policy should cost, or if yours costs too much, by looking at average costs of renters insurance for apartments in your area.
Why Is Some Georgia Renters Insurance Expensive?
Many companies have significantly raised their premiums in recent years for renters insurance for apartments in Georgia. There are two primary reasons for that.
The first is that there were significant claims losses in previous years, and the premiums charged in the past just weren’t sufficient to replenish the claims reserves going forward. Much of this was in coastal Georgia, but it impacted companies and policyholders across the state because of the way rates have to be set.
Georgia is, of course, at a higher risk for certain types of storms. Much of Georgia is rural, as well, which can reduce response times of police or fire departments. All of these things come together to result in increasing the average price of Georgia renters insurance.
When you have a policy that’s not expensive, but certainly not inexpensive, and you start factoring insurance credit scores into it, the policies get expensive very quickly. This has become a problem in Georgia because the average price of renters insurance is something that most people can pay, but not with an additional significant modifier.
Renters insurance for apartments will often be more expensive than renters insurance for homes. In an apartment, you’re living closer to more people – each one of those people presents some degree of risk. In addition, in an apartment, you’re potentially an easier target for petty crime such as theft because there are just so many people that it’s difficult to notice someone who doesn’t belong.
Georgia renters insurance has gone up, it’s true. But Effective Coverage is able to mitigate that by working with underwriters who are able to evaluate the situation much more freely and bring down the average cost. That’s good for you, and it’s good for the state.
What Are The Average Costs Of Georgia Renters Insurance For Apartments?
The national average price of renters insurance is about $187.00 annually, or about fifteen dollars a month. While it’s not quite that cheap in Georgia, it’s quite affordable. The average costs of Georgia renters insurance for apartments run just a little less than twenty dollars a month, or around $225.00 for the year.
On the other hand, many parts of the state have average apartment costs that are less than most of the rest of the country. This helps to balance out your budget overall, and helps to make sure that you can afford Athens, GA Renters Insurance. Some companies are charging substantially more than this for policies, but it’s just not necessary.
Sure, there are additional risks in Georgia, and there have been several rough claims years. But that doesn’t necessarily mean that all of the increases make sense. Effective Coverage can help you get a policy that’s in line with average costs, and that meets your needs for coverage.
What is the average cost of going without Georgia renters insurance? A property loss for one person living alone can easily reach into the tens of thousands of dollars to replace everything. That’s not even considering the size of a loss for a family with small children.
A liability loss without Georgia renters insurance could cost you your life savings, as well as your life in general. If you’re paying off a $100,000 judgement for a fire caused by your negligence, someone else is telling you how to spend most of your money, for the rest of your life.
The cost of a liability loss without coverage is giving up control of your life, your assets, your future, your hopes, and your dreams. Someone else owns all of those now, and controls them with an iron fist. Someone else determines whether you can take a dream job, but one that pays a little less. Someone else determines whether your family can every own a home, or whether your kids can have a college savings account. That’s the cost of not having renters insurance in Georgia.
There is no reason to suffer the costs of going without. It’s easy to get covered. You can call, speak with a friendly insurance expert for renters, and get the coverage you need in just minutes. All of our insurance experts are on salary, so their focus is on getting you the coverage that you deserve rather than on upselling you.
Give it a try. Just call (800)892-4308 and we’ll be happy to help you get the right policy to meet your needs.
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