Your Resource for Buying Protection in The Peach State

Georgia regularly experiences an array of natural disasters, including hurricanes, flooding, high winds, winter storms, tornadoes, and more. Homeowners without adequate house insurance protection stand to suffer major financial losses from the damage these perils can cause. To help you select the right coverage for your home, we've put together a comprehensive guide to covering your most significant investment. In our guide, you will find information on the standard elements included in policies and what to do when you cannot find an insurer.

The Fundamental Elements to Consider

A basic policy will include the following elements:

• Structural coverage. This portion of the policy looks after the actual structure of your dwelling from perils like wind, theft, fire, hail, etc. Your structural protection should include enough of a reimbursement to rebuild your house from scratch.
• Personal property coverage. Thise goes towards the possessions stored in your house. Most plans also cover items you store in your vehicle and other structures on the premises, such as a garage or shed. Personal property coverage comes in two forms: actual cash value and replacement cost.
• Liability. This offers peace of mind against lawsuits and claims that result from bodily injury or personal property the homeowner causes someone else.
• Additional living expenses. If you cannot live in your dwelling safely after a loss, most policies will provide shelter for the additional living expenses you incur while your dwelling is being rebuilt or repaired. For example, your policy might pay for a hotel or rental until your house is habitable again.

The Importance of CLUE Reports

A CLUE report, or a Comprehensive Loss Underwriting Exchange report, is a history of claims for a consumer or a property for the last five years. Before issuing a plan, prospective insurers pull CLUE reports for applicants and their homes. The Fair Credit Reporting Act also allows consumers to access their CLUE reports by contacting ChoicePoint Consumer Disclosure. Residents should keep in mind that even if they have never filed a claim, their CLUE reports may still contain claims filed against their property by previous owners.

Traditional Alternatives to Consider

Because of the state's risk for hurricanes and other disasters, certain carriers have stopped issuing new policies in the state. If you cannot find an insurer that will issue you a plan, the state offers an alternative called the FAIR plan. The FAIR plan, also called the Georgia Underwriting Association, is a group of licensed casualty and property insurers that exists to provide peace of mind to those who cannot obtain a policy on the standard market. Residents can obtain FAIR plan protection through an independent insurance broker or agent or directly from the FAIR plan.