Getting the Most from Your Atlanta Homeowners Insurance

Many who live in Atlanta feel that its benefits far outweigh the everyday challenges of living in a city. Instead of the legendary traffic jams or trying to figure out how to get to work affordably by train, Atlanta residents find themselves within just a few miles of where they need to be, which can make living in the city that much more affordable.

Home ownership in this world-renowned 'international city' offers a host of benefits to its diverse residents. But Atlanta's weather can threaten even the most seemingly-secure home and property. In order to ensure the most possible protection against damage due to natural events such as flooding and to get the most from your Atlanta homeowners insurance policy, locate a reputable company through our handy resource.

Do You Know About the Coinsurance Penalty?

If your home suffers some kind of loss, your insurance company will look to see if you had coverage that was comparable to your property's value. If you don't, a coinsurance penalty may result. This penalty will occur if your policy limit is less than eighty percent of the replacement cost of your home. The coinsurance penalty is calculated by multiplying the value of the property at the time the loss occurred by the coinsurance percentage (80%). The resulting figure will represent the minimum amount of coverage a homeowner must have in order to comply with coinsurance requirements.

Who Determines The Right Amount Of Valuation For Your Home?

Ultimately, you do. It's not up to your agent to verify the accuracy of the information you have provided in your application. Whatever amount of coverage you request when you visit an agent is the amount they will record.

Once your policy has been written, your insurance company does not have any duty to inspect your property to see if it was adequately valued. However, there is a valued policy law which can come in to effect should the company choose not to inspect a property. Interestingly, a company can make the decision to not inspect a property, and be subject to the policy law if a home's total losses are covered.

How Your Home Can Become The Victim Of 5 Figure Damage

One of the most common causes of damage from natural disasters in the state of Georgia is flooding. And it can cause you thousands of dollars in damage if you haven't purchased flood liability coverage. But while many living in Atlanta understand the damage flooding can do, a large number are still without coverage, mainly due to common misunderstandings.

The Real Cost Of Protection from Flooding

A very common reason why most homeowners in Atlanta don't have flood insurance is because they believe it will be too expensive. But in general, having this type of coverage added to your existing homeowners insurance policy will only cost about one hundred dollars per year.

Depending on the company you choose, your flood coverage may offer you reimbursement for damage that can result from:

  • Storm surges
  • Tidal or inland overflows
  • Rapid runoff or accumulation of surface waters
  • Mudflow
  • Blocked storm drains due to recent storms

Do You Really Need To Worry About Flooding?

Another common myth is that living in a low-risk flood zone doesn't require special coverage. But the truth is that flooding can occur as the result of things that may not be related to the weather, such as nearby construction or development.


If you own a home in Atlanta and don't have adequate coverage, the best time to get it is now, before destructive events occur. So why not review the many options available for Atlanta homeowners insurance coverage right here?

Categories: Homeowners InsuranceFinding DiscountsUseful TipsHome Owners Insurance by CityNews