ZIP 31408 Insurance Data

Data Snapshot: ZIP 31408 (Savannah, GA)

ZIP 31408 (Savannah, GA) shows an average homeowners insurance premium of $1,947 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 157 reported policies. That is 10% above the national average of $1,776 per year, placing this ZIP in the 73th percentile nationally. Compared to the Georgia state average of $1,769, this ZIP runs 10% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 31408 is 89.6%, meaning insurers are operating on thin margins here. Claim frequency — the share of policies with at least one claim — is 6.43%, and the average claim severity (amount paid per claim) is $27,129. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 1.57% in this ZIP, a rise of 35.9% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 31408 have risen by 6.2%, ranging from $1,833 to $1,947 with a five-year average of $1,897 — an annualized rate of +1.5% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.