New Features That Lower Your Coastal South Carolina Home Insurance

Just like a standard homeowner policy, South Carolina windstorm policies offer zero protection against flood damage, in order for your home to be fully protect you would need to carry a separate flood insurance policy. 

If you are unable to find coverage in the private market you may need to purchase a policy through The South Carolina Wind and Hail Underwriting Association. The SCWHUA was founded in 1971 because coastal homeowners were finding it difficult to impossible to find homeowners insurance in the private market. The SCWHUA is an association of insurance companies that write wind and hail policies in coastal areas where it is difficult to find coverage. 

All property and casualty insurance companies that write policies in the state are required to participate in funding the plan and they share all losses and profits. 

Look for Features That Lower Your Insurance Costs

If you can find a house that comes with an impact resistant roof, shutters and impact rated window glass it will lower your stress levels the next time a hurricane or other major storm rolls through as well as cut your insurance bill. 

On the flip side of this, if you are selling a house that has been upgraded with any of these features, they should be highlighted in your selling materials as these upgrades can be a major selling point. 

Let’s have a quick look at just a few home upgrades that can help lower your insurance rates while also protecting you home and family. 

Here are some key wind-mitigation measures to look for:

Roof

Adding impact resistant shingles and beefing up your roof is a great way to shave a bit of money off of your premium. Discounts will vary but look for savings in the 25 percent range. In South Carolina, using a hip roof which is a type of roof where all sides slope downwards to the walls, usually with a fairly gentle slope, is a better idea than a gable roof. 

If your home has a gable roof, consider bracing the gable ends and adding tie down straps which improved wind resistance and will usually result in an insurance discount. 

A top of the line roof that meets South Carolina’s Safe Home standards would have features that include extra-tough attachment of the roof sheathing to the home, a secondary water barrier, gable bracing, and wind-rated shingles.

Windows

Windows can shatter, showering the inside of your home with both glass and debris flying in, not to mention all of the rain and flood water. However, if you install hurricane-rated impact glass windows your home will be protected, and your insurer may just offer a discount. 

While impact glass windows are a great start, you should consider permanently affixed shutters or bracket mounted storm panels to further protect your windows and the inside of your home. 

Impact resistant windows and doors can be sort of pricey but are well worth the investment over the years. Prices vary but expect to pay roughly $1,900 for a hurricane impact door. An average single-hung window will usually run between $500 and $600.

The Federal Emergency Management Agency (FEMA) says that impact-resistant windows are “the most effective solution” when it comes to protecting you home from storm damage. 

Modern Construction

In many cases, homes built in 2006 or after may qualify for an insurance discount as it has been built using modern building codes. South Carolina homes that meet S.C. Safe Home or Insurance Institute for Business and Home Safety (IBHS) standards may also qualify for a homeowner insurance discount. 

In addition, if your home meets the standards for an IBHS “fortified” home you can end up saving up to 20 percent on a wind and hail policy. Unfortunately, according to Fortune magazine, there are fewer than 8,200 homes nationwide that have been certified “fortified” since the designation began in 2008.

Sprinkler System

A sprinkler system is a major commitment and expense, but it can literally save your home if a fire breaks after a major windstorm, tornado or hurricane. Sprinkler systems are typically very expensive but can result in a significant discount on your homeowner policy. 

Help May Be Available

Most of these upgrades are fairly pricey but South Carolina does offer tax credits and grants to owners of single-family home in coastal areas of the state. The S.C. Safe Home program handed out $535,292 in tax credits for fortification measures in 2017, according to the S.C. Department of Insurance.