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Homeowners insurance shouldn't be complicated. Compare rates from South Carolina by location and carrier below.Get Free Quotes
Home insurance is an optional but important insurance coverage. It keeps your investment insured in the event your house suffers damage from a common incident. A homeowners policy protects your home and your items in the event of an array of misfortunes, including wind damage, fire, theft, vandalism, and more.
Unlike car insurance, home insurance isn't priced based on state-level legislation. That said, major gaps exist in homeowners insurance costs from state to state. Insurance policy rates in US states diverge based on the total number and value of homeowners claims filed statewide, and also on the value of the belongings and property you're covering.
The easiest way to find affordable homeowners insurance in South Carolina is to get quotes from as many companies as possible. Learn more about homeowners insurance costs in South Carolina by referencing the below tables. Your rates may vary, depending on your coverage limits.
Home insurance prices in South Carolina differ based on the insurance company you choose. Universal Insurance offers the most affordable homeowners insurance in South Carolina — $843 per year. This compares favorably to the state average cost of $2,196, offering a $1,353 price cut on the typical rates in the state.
Start your search for affordable coverage by reviewing the most affordable South Carolina insurance companies, listed below.
|Company||Average Annual Rate in South Carolina|
Not all South Carolina cities have the same homeowners insurance rates. Prices depend on locally specific variables such as the number of claims filed nearby, giving your ZIP code weight in deciding how much you pay.
The best homeowners insurance in South Carolina is found in Greer. The average home insurance policy in Greer costs $1,441 per year — $755 less than the average policy in other South Carolina cities. The below cities have the most affordable homeowners insurance in South Carolina.
|City||Average Annual Home Insurance Rate|
If you want to save on insurance, consider purchasing both your car and home insurance policies from one company. A home and car insurance bundle in South Carolina can save you a substantial sum each month on car insurance. Bundling home and auto policies in South Carolina leads to a yearly savings of $116.
|Avg. Annual Auto Insurance Rate (No Bundle)||Avg. 12-Month Auto Insurance Rate (Bundle)||Annual Bundle Savings||Bundle Savings %|
The state of South Carolina does not require homeowners insurance, though your mortgage lender may require it as a part of the lending agreement.
Since hurricanes can cause devastating destruction and wipe out buildings entirely, insurance companies remain reluctant to assume the full risk of hurricanes as a whole. If you reside in South Carolina, there could be an increased risk of experiencing damage from hurricanes. In fact, 35, 934 single-family homes are at extreme risk of hurricane damage in South Carolina.*
If you own a home in a coastal area, it's of utmost importance to check and understand your policy since a basic agreement won't cover the costs of damage caused by hurricanes — you would need separate windstorm and flood policies, which would work together to cover repairs or replacements. Depending on your state, your insurance company may require a separate deductible for hurricanes if you live in a region that's at high risk for hurricanes.
What makes hurricanes so dangerous is the sheer amount of different perils that they bring. While most of these perils are covered by a standard homeowners policy, hurricane insurance itself doesn't exist as a unique offering. Homeowners in areas prone to hurricanes and tropical storms could face what is often referred to as a "windstorm" or "hurricane" deductible. Only triggered in certain conditions, these specialized deductibles work differently than the deductible for a standard peril. For a start, they are oftentimes much higher than typical deductibles, based on a percentage of your home's overall value. Though it is a common peril associated with hurricanes, flooding is rarely covered by a standard home insurance company. Flood coverage must, in most cases, be obtained through the National Flood Insurance Program.
Below are some affordable choices for hurricane coverage in South Carolina. Please treat the following rates as mere estimates. For rates specific to your property, it's best to reach out to these companies directly.
|Insurance Company||Average Annual Earthquake Insurance Rate|
|New London County Mutual||$754|
*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hurricanes)
Flood damage — whether the byproduct of a rainstorm or a hurricane —is not covered by home insurance. To protect your home, acquire flood coverage from a private flood insurance company or through the National Flood Insurance Program (NFIP).
Flood insurance coverage from private companies may vary, but if you buy through the NFIP you are allotted coverage for:
If the value of your property and home exceed these limits, consider purchasing a policy from a private company for additional protection.
Flood insurance is key in South Carolina, which suffered $139,809,990 in 2016 flood insurance claims, according to the Federal Emergency Management Agency.