Coverage exclusions
Since Georgia experiences frequent hurricanes, tornadoes and floods, it is recommendable to find insurance policies that cover such high-ticket disasters. You can choose third-party insurers for extra protection. According to the Georgia Office of Insurance, the best coverage for flood insurance is the federally funded NFIP (national flood insurance program).
The 60-day rule
Like Georgia's auto insurance, homeowner insurance providers have 60 days to cancel your insurance, after which any cancellation is prohibited. The provider must also provide a ten-day notice about the cancellation of your coverage. Once the 60-day period elapses, the only reasons that can warrant cancellation are failing to pay your premiums, filing false claims, failing to take care of the property, or being charged with a felony.
Pet insurance
Most homeowner insurance providers in Georgia State do not offer coverage for your dog and other pets. Those that provide dog insurance require a letter from a credible vet to confirm that the pet has undergone training, and is of no danger to anyone. Some insurers also do not offer coverage for specific dog breeds, such as pit bulls and rottweilers.
Trees and automobiles
Georgia homeowners insurance does not cover damage to your vehicle, bikes or other automobiles, so you will need separate coverage for these items. For tree damage, most policies only cover the cost of moving the tree debris. However, providers have different policies and you can find coverage that include other damages.
The FAIR plan
Not everyone can afford adequate homeowner insurance coverage. If you are unable to get coverage from traditional insurance companies, the only other option you have is the FAIR (fair access to insurance requirements) plan. This plan is designed to offer insurance to low-income families and un-insurable homeowners. The FAIR plan is provided by the Georgia Underwriters Insurance Association and covers various risks, although the coverage is not as comprehensive as traditional homeowners insurance policies.
There are various aspects to review when looking for homeowner insurance. Each insurer has different packages and policies, so you should consider what a specific company offers. As a rule of thumb, you need to insure your home for to up to 80% of its replacement cost to be safe. It is also essential to choose credible, reputable insurance providers.