Home Insurance in South Carolina

South Carolina homeowners insurance: what you need to know

The average cost of homeowners insurance in South Carolina is $1,463 per year or $122 per month (around the US average). The easiest way to find an affordable homeowners insurance policy in South Carolina is to view prices from as many insurance companies as possible.

Unlike car insurance, homeowners insurance isn't controlled by state legislation. Even so, major gaps exist in home insurance rates on a state-by-state basis. Policy prices in states may vary based on the total number and value of homeowners claims filed in that particular state, and depend on the value of the belongings and structures covered by the policy.

Learn more about home insurance rates in South Carolina by reviewing the below data. Your rates may vary, depending on your coverage limits.

 

Table of contents:

1. Rates by company
2. Rates by coverage amount
3. Rates by deductible amount
4. Rates by city
5. Bundling savings
6. Frequently asked questions
7. Natural disaster coverage

 

The cheapest home insurance companies in South Carolina

Rates for homeowners insurance in South Carolina can vary based on the insurance company you choose. Universal Insurance offers the most affordable home insurance in South Carolina — just $843 per year. This is less than the state average cost of $1,463, providing a $620 discount on the typical rates in the state.

Start your search for affordable coverage by reviewing the cheapest South Carolina home insurance carriers, listed below. You can also check out our guide to the best home insurance companies based on the results of The Zebra's Customer Satisfaction Survey.

 

AFFORDABLE HOME INSURERS IN SOUTH CAROLINA

Insurance Company	Average Yearly Rate in South Carolina
Universal Insurance	$843
Safeco	$1,353
State Farm	$1,459
AAA	$1,460
United	$1,745

 

South Carolina home insurance prices by coverage levels

Your chosen level of homeowners coverage determines the insurance premiums you're charged. In South Carolina, carrying $100K dwelling coverage costs an average of $840 per year, while carrying additional coverage up to $400K costs $2,593/year.

 

POPULAR COVERAGE LIMITS IN SOUTH CAROLINA

Coverage Level	Average Annual Cost
$100,000 Dwelling	$840
$200,000 Dwelling	$1,463
$250,000 Dwelling	$1,679
$400,000 Dwelling	$2,593

 

Homeowners insurance deductibles in South Carolina

Where you set your deductible can play a large part in determining your insurance premiums. When selecting a deductible, remember that the higher your deductible is, the lower your premiums will be. Therefore, if you are aiming for lower home insurance rates, you’ll want to increase your deductible. Bear in mind: your deductible should not be set at an amount that you would have difficulty paying in the event of a loss.

Below you'll find some common deductibles offered on most home policies along with corresponding average insurance premiums.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN SOUTH CAROLINA

Deductible Tier	Average Annual Homeowners Insurance Rate
$500	$1,815
$1,000	$1,679
$1,500	$1,609
$2,000	$1,487
$5,000	$1,306

 

South Carolina homeowners insurance costs by city

Not every city in South Carolina has equal home insurance costs. Policy rates rely on location-specific factors such as the number of claims filed in the immediate area, lending your ZIP code plenty of weight in deciding how much you pay.

The best homeowners insurance in South Carolina is found in India Hook. A typical homeowners insurance term in India Hook totals just $1,135 per year — $328 less than the statewide average. The below cities have the most affordable home insurance in South Carolina.

 

CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN SOUTH CAROLINA

City	Average 12-Month Home Insurance Rate
India Hook	$1,135
Lesslie	$1,142
Clover	$1,144
York	$1,150
McConnells	$1,156

 

Home and auto insurance bundling in South Carolina

If you want to save, consider purchasing your homeowners and car insurance policies from the same company. A home and auto insurance bundle in South Carolina can save you a substantial sum each month on your auto insurance policy. Purchasing bundled policies in South Carolina leads to yearly savings of $116.

 

HOME AND AUTO BUNDLING DISCOUNTS IN SOUTH CAROLINA

Avg. Annual Rate (No Bundle)	Avg. Annual Rate (w/ Bundle)	Annual Savings ($)	Annual Savings (%)
$1,348	$1,232	$116	9%

 

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South Carolina homeowners insurance FAQs

 

Is homeowners insurance required in South Carolina?

The state of South Carolina does not require homeowners insurance, though your mortgage lender may require it as a part of the lending agreement.

 

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Natural disaster coverage in South Carolina

 

Does homeowners insurance cover hurricanes in South Carolina?

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.¹

If you own a home in a coastal area, it's of utmost importance to check and understand your homeowners policy since a basic policy won't be sufficient to cover the costs of repairing 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.

Learn about high-risk homeowners insurance here.  

 

HURRICANE DEDUCTIBLE RATES IN SOUTH CAROLINA

Company	Average Annual Rate w/ Hurricane Deductible
Universal Insurance	$958
Liberty Mutual	$984
State Farm	$1,058
United	$1,300
AAA	$1,361

 

Does homeowners insurance cover flooding in South Carolina?

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:

• $250,000 coverage for your home's structure
• $100,000 coverage for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Flood insurance is key in South Carolina, which suffered $139,809,990 in flood insurance claims in 2016, according to the Federal Emergency Management Agency.²

 

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Sources:

¹Insurance Information Institute

²Federal Emergency Management Agency (FEMA)

 

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