Lovejoy, GA Home Insurance Quotes!
In the great city of Lovejoy, there are a total of 6,422 people living in a variety of different styles of properties from single-family homes, duplexes, condos and apartments. While there are roughly 16 housing units in the city of Lovejoy, many of the ones that are currently occupied are in need of lower home insurance rates. In the majority of these Lovejoy neighborhoods, the average family size is around 3 residents per house.
In Lovejoy, the average household income is about $0. While this is a fairly high number, it is slightly below the national median. Luckily, the cost to purchase a home in Lovejoy is affordable, the average real estate market price is $155,000, although home prices in this area continue to rise. An increase in home prices results in more risk for the insure to cover. Plus, the cost of living increases with the property taxes due to the cost of home prices going up. Saving money on your home insurance premium can help with your monthly budget and even lower your monthly mortgage payment. Let us help you shop and compare rates in Lovejoy, GA today!
Lovejoy, GA Home Facts
The city of Lovejoy is roughly around 6,422 residents in population size with 1983 currently livable homes being occupied. The average family household in Lovejoy is 1372 per house.
| Demographic | Values |
|---|---|
| Population | 6,422 |
| Total Occupied Households | 1983 |
| Family Households (families) | 1372 |
| Average Owner Occupied Household Size | 2.81 |
| Average Family Size | 3.37 |
| Total Housing Units | 2364 |
Lower Home Insurance Rates in Lovejoy Helps with Savings
In addition to affordable housing, Lovejoy homeowners insurance also has some great rates to help you save more money. Our average home insurance rates for Lovejoy is around $1048 per year, for smaller homes with less replacement value coverage and discounts, you can get rates for as low as $798. For larger homes over 1,800 sq. ft in Lovejoy, you may see higher rates in the $1348 range due to increased dwelling coverage.
Lovejoy Home Insurance By Policy Type
When it comes to Lovejoy homeowners insurance policies, there are a few different policy types and each one is written for a certain type of structure. Having the correct policy type is essential to having the proper coverage on your home for added protection when you need it most.
Below we have featured the most common insurance types for homeowners living in or nearby Lovejoy:
| Type | Description |
|---|---|
| HO-3 | The most common of homeowners coverage is the HO-3. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded in the body of the policy. Damage that is caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well. |
| HO-6 | Condos are becoming a popular housing option in Lovejoy and if you have one, this is the policy type you need. In addition to condos, it also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own. |
| HO-8 | Lovejoy is lucky to have a fair number of historical homes and if you own one, you may need an HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils. |
| HO-4 | This policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment. |
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Our Quoting Service in Lovejoy
We have been working with the top rated ("A+" A.M.) Georgia home insurance carriers for years and we can help you find the best coverage at an affordable price for your home in Lovejoy, GA.
It’s important when shopping for insurance to work with carriers that are dependable and financially secure. Our top-rated carriers include Liberty Mutual, Safeco Insurance, Tower Hill, ShoreOne, Kind Group Underwriting, AIG, Chubb, Travelers, National General, Heritage Insurance and the Georgia Underwriting Association
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Average Rates Nearby Lovejoy
Are you looking for homeowners insurance in a city near Lovejoy? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Lovejoy, GA
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Lovejoy.
Lovejoy, GA Home Insurance Average Premiums
$798 /yr.
For the city of Lovejoy, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $798 /yr. |
| Average Coverage: | $1048 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1348 /yr. |
What is the average home insurance cost for a home in Lovejoy, GA?
- • The average homeowners insurance premium paid annually for a home in Lovejoy is around $1048 per year.
What does it cost on average per month for home insurance in Lovejoy, GA?
- • Homeowners in Lovejoy pay an average cost per month around $87.00 for insurance coverage.
Lovejoy, GA - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $280,734 | $253,444 |
| February | $281,025 | $260,276 |
| March | $281,848 | $266,926 |
| April | $282,596 | $273,062 |
Homeowners insurance will help cover the cost to repair or replace your Lovejoy home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Lovejoy
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
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Saving Money Tips on Lovejoy Home Insurance
A great way to save money on Lovejoy homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Lovejoy area? Check out what homeowners are paying on average for Georgia homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 942 ft. | This is the average home elevation in Lovejoy, GA | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Georgia flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Lovejoy, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Clayton County.
Georgia Homeowners Insurance News & Information
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Homeowners Prepare for Rate Increases Later This Year Posted on Monday 27th June, 2022
In most states, home insurance rates are headed up this year and homeowners should be prepared for further rate increases before the end of the year. According to a recent S&P Global Market Intelligence report, over 177 insurance carriers have filed requests for rate increases in 43 states, Arizona alone has seen 34 rate increase requests. […]
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Hurricane Isaias is on the same track as Hurricane Dorian – What can we expect? Posted on Wednesday 5th August, 2020
Hurricane Isaias is on roughly the same track as Hurricane Dorian and is the first hurricane to hit the Bahamas since Dorian stalled over the islands as a Category 5 monster killing dozens of people and causing massive destruction. Here is a quick overview of both storms as well as a few tips on how […]
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Georgia Coastal Home Insurance Coverage & Rates Posted on Wednesday 2nd October, 2019
Windstorm insurance is not a required coverage in Georgia, but if you live on the coast, it is certainly an insurance you should consider. In many coastal areas your mortgage lender will require that you carry a windstorm policy to make sure your home (and their investment) is full protected. Windstorm policies are designed to […]
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Coastal Homeowners in Denial: FEMA urges homeowners to buy flood insurance Posted on Monday 23rd September, 2019
Congress is getting ready to send President Donald Trump the thirteenth 60-day extension of the National Flood Insurance Program (NFIP) as the current one expires at the end of September. The NFIP has been in serious financial trouble for years but Congress has been unable to agree on how to fix the ailing program. The […]
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Thousands of Homeowners in the path of Hurricane Dorian Cancelled Their Flood Insurance Posted on Wednesday 11th September, 2019
According to a recent analysis by E&E News of government data, tens of thousands of homeowners who were in the path of Hurricane Dorian dropped their flood insurance in recent years. The analysis found that both homeowners and owners of commercial buildings have been giving up their flood insurance policies despite the fact that their […]
Lovejoy, GA Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Lovejoy so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Lovejoy, GA?
- The average square footage in Lovejoy is around 1,270 Sq. Ft. which would cost you around $155,000 to replace the home if you base the home on the price to build per square foot of $122.
Minimum Replacement Cost Total: $155,000
Location: Lovejoy, Georgia (Clayton County)
Average Building Cost Per Square Foot in Lovejoy: $122 (low end)
Average Square Footage in Lovejoy: 1,270 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $122 | $155,000 |
| Some Additional Upgrades | $153 | $193,750 |
| Major Home Updates or Advancements | $183 | $232,500 |
The dwelling coverage is calculated by the average cost per square foot ($122) in Lovejoy, Georgia times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $381,250 (Media price to build of $153 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.