Get Charleston, SC Home Insurance Rates!

Charleston is a lovely southern port city that is known for its beauty and southern charm. Cobblestone streets, horse-drawn carriages and pastel antebellum houses make this city a pleasure to call home.

Charleston is known for its unique neighborhoods as well as the beautiful Charleston Harbor. Regardless of whether your home is located in the French Quarter, Battery Waterfront Park or another Charleston neighborhood, you will need to protect it with homeowners insurance.

Charleston comes with its own insurance challenges. Being a coastal city, severe weather and flooding can be an issue which is why it is very important to make sure your home is properly insured.

We have been insuring homes in Charleston for years and work with some of the best insurance companies in the South. Keep reading to learn everything you need to know about insuring your home in Charleston.

How Much Does Home Insurance Cost in Charleston?

While the cost of coverage can vary depending on several factors, when we ran the numbers, we found the following as average costs for homeowners insurance in Charleston:

• Smaller homes:If your home comes in at 1800 square feet or less, the average premium in Charleston was roughly $672 /yr.
• Average home: If your home comes in at less than 2600 square feet the average premium was a very affordable $922 /yr.
• Larger homes: If you live in larger home, one that is 2600 sq. ft. or larger, the average annual premium for homeowners was $1222 /yr.

Please remember that these are average premiums and your specific costs will vary depending on both your personal risk factors as well as the risk factors of your home.

The cost of homeowners insurance will vary dramatically depending on a variety of factors. These factors can include all the following:

• Home size and value: Larger more expensive homes will be more expensive to insure.
• Security systems and storm protections: If you have a monitored security system or have updated your home with storm protections such as wind resistant roofing materials, your premium should be lower.
• Crime rate: Insurers consider the crime rates in your neighborhood and will charge more for coverage if you live in an area that experiences lots of crime.
• Weather hazards: If you home is on the coast in an area that experiences lots of flooding or other severe weather, you will pay a higher premium.
• Credit score: Insurers consider your credit score when setting a premium as statistics show that people with lower credit scores tend to file more claims. If you have a lower score, you will pay more for coverage.
• Claims history: Insurance companies also consider your claim history when setting a premium. If you have filed numerous claims on previous insurance policies, you will pay more for coverage.
• Deductible: Just like car insurance, homeowners coverage comes with a deductible which is the amount you must pay before coverage kicks in to cover the rest of the cost. Average deductibles for homeowners coverage range from $500 to $2,500 or more. The higher your deductible, the lower your premium.

Our insurers in South Carolina

We work with a wide variety of insurers to provide top notch coverage in Charleston, the rest of South Carolina as well as North Carolina. Here is a quick overview of a few of the insurers we work with in these states:

Liberty Mutual: Liberty Mutual is well known national insurer that is based in Boston, Massachusetts. They are currently the third-largest property and casualty insurer in the United States. It also operates in 29 countries and economies around the world. Liberty Mutual had $133.6 billion in consolidated assets, $110 billion in consolidated liabilities, and $43.2 billion in annual consolidated revenue, making it the 6th largest property and casualty insurer globally.

Safeco Insurance: Safeco is a major insurance company in the United States and is wholly owned by Liberty Mutual, so you have all of the financial backing of Liberty Mutual.

Tower Hill: Tower Hill is one of Florida’s largest residential property insurers. They currently work with more than 850 insurance agencies throughout the state. Tower Hill has been protecting Florida’s home and business owners for almost 50 years.

ShoreOne: This insurer specializes in coastal properties. They have developed an all-inclusive coastal insurance policy that we use mainly for homes located on the coast.

AIG: AIG is a multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. AIG companies employ roughly 49,600 people and they sell a wide variety of insurance and financial products. AIG is the 87th largest public company in the world.

Chubb: Chubb is the world’s largest publicly traded P&C insurance. Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance. Chubb has more than $200 billion in assets and reported $46.8 billion of gross premiums written in 2021. Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best.

Travelers: Travelers is the second-largest writer of U.S. commercial property casualty insurance and also the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, but their headquarters are based in New York City. Travelers employs roughly 30,800 employers and had revenue of $31.5 billion in 2019.

South Carolina Wind and Hail Underwriting Association (SCWHUA:) The SCWHUA was started in 1971 because coastal homeowners were unable to find homeowners insurance in the private market. It is an association of insurance companies that write wind and hail policies in coastal areas where it is difficult to find coverage. If other carriers don't have the right price or coverage options available, we can certainly help you find the best wind and hail policy available through the SC Wind and Hail Underwriters.

Do I Need Homeowners Insurance in Charleston?

Yes, unless you are independently wealthy, own your home outright and can easily afford to rebuild it and replace all your possessions. Homeowner insurance protects what is often a person’s most valuable asset, and for many people, dropping homeowners insurance is not an option.

If you have a mortgage on your home, your lender will require that you carry homeowners insurance and if your home is located in a high risk area for flooding you will be required to carry flood insurance as well.

Even if your home is paid off you should still carry homeowners insurance. Perils such as fire, flooding, and even hurricanes can do massive damage to a home, even destroying it completely and if you are not carrying homeowners insurance you will have to cover all of the costs to rebuild your home and replace your possessions.

What Does a standard Charleston, SC Home Insurance Policy Cover?

A standard home insurance policy provides a wide variety of protections for your home and property. Most standard policies provide the following coverages:

Property damage to your home: The dwelling portion of the policy will pay out to repair or replace your home if it is damaged by a covered peril. Covered perils typically include:

• Fire and smoke
• Lightning strikes
• Windstorms and hail
• Explosion
• Vandalism and malicious mischief
• Damage from an aircraft, car or vehicle
• Theft
• Falling objects
• Weight of ice, snow or sleet
• Water damage

Property damage to your possessions: A homeowners policy also protects your personal possessions. This includes most things in your home such as furniture, electronics, pans, plates, and even artwork.

Coverage for your possessions is usually capped at 20% to 50% of your dwelling coverage limits. As an example, if you are carrying $300,000 in coverage your personal possessions would be protected up to $60,000 and $150,000 depending on your specific policy.

It should be noted that expensive items such as jewelry, artwork and even wine collections can have a value cap. The cap can vary by policy but $1,500 is fairly standard.

Liability: Liability coverage protects you if someone is injured on your property or if someone from your household damages another person’s property.

As an example, if a guest slips and falls at your home any resulting medical or legal bills will be covered by your policy up to your policy limits. Your insurance will also cover damage you do to other people’s property, if one of your kids manages to put a baseball through the neighbor’s window, your policy will cover the cost of replacing it.

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.

Property damage to your possessions: A homeowners policy also protects your personal possessions. This includes most things in your home, furniture, electronics, pans, plates, artwork and most other things in your home.

Coverage for your possessions is usually capped at 20% to 50% of your dwelling coverage limits. As an example, if you are carrying $300,000 in coverage your personal possessions would be protected up to $60,000 and $150,000 depending on your specific policy.

It should be noted that expensive items such as jewelry, artwork and even wine collections can have a value cap. The cap can vary by policy but $1,500 is fairly standard.

Liability: Liability coverage protects you if someone is injured on your property or if someone from your household damages another person’s property.

As an example, if a guest slips and fall at your home any resulting medical or legal bills will be covered by your policy up to your policy limits. Your insurance will also cover damage you do to other people’s property, if one of your kids manages to put a baseball through the neighbor’s window, your policy will cover the cost of replacing it.

Common Weather Perils in Charleston

Charleston is located in a coastal area which means your risk of hurricanes and windstorms is higher. In many areas, wind and hail damage may be a separate coverage or require a percentage deductible. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flooding can also be an issue in Charleston. If you live in an area of Charleston that is prone to flooding, you should absolutely consider flood insurance. Flood damage is almost always excluded from a standard homeowner policy so if you are not carrying a flood policy you will be on the hook to repair any flood damage.

While flood insurance can be expensive, it can be a financial life saver if you experience massive flood damage. We can help you find the best flood insurance coverage for your home in Charleston at a price you can afford. Call us at 888-620-1954 to review your SC Flood Coverage Rates Today!

Tips for saving money on homeowners insurance

Here are a few tips to help lower your premium:

Shop your coverage: Shopping your coverage on a regular basis is probably the best way to lower your premium. Insurers rate risk differently which can result in dramatically different premium quotes. We can help you shop tons of insurers quickly and easily.

Discounts: Insurance companies offer a variety of discounts that can lower your premium. Make sure you are getting all of the discounts that you are qualified to receive. Bundling is one of the more common discounts, 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 will help keep your premium affordable.

Upgrading your home: 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.

Compare Homeowners Insurance Rates in Charleston, SC!

Charleston, SC Insurance Quotes & Service

With over 20 years of South Carolina homeowners insurance coverage and quoting experience, we enjoy helping customer find the best price and coverage options for your home in Charleston, SC. Our new carrier platform includes quick rates from the very best insurance companies, like Liberty Mutual, Safeco Insurance, Tower Hill, ShoreOne, Kind Group Underwriting, AIG, Chubb, Travelers, National General, Heritage Insurance and the South Carolina Wind and Hail Underwriting Association for wind and hail insurance policies. Getting the best insurance rates with the right insurance company is key to protecing your Charleston home. Let us help you shop the best rates and coverages today!

Get the Best South Carolina Home Insurance Rates Today!

Average Rates Nearby Charleston

Are you looking for homeowners insurance in a city near Charleston? 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 Charleston, SC

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Charleston.

29401,     29403,     29406,     29407,     29409,     29412,     29414,     29423,     29424,     29492,     

Homeowners insurance will help cover the cost to repair or replace your Charleston 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 Charleston
• 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.

Saving Money Tips on Charleston Home Insurance

A great way to save money on Charleston 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 Charleston area? Check out what homeowners are paying on average for South Carolina homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

To get online quotes on your home and compare rates on home insurance premiums in Charleston, 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 Berkeley County.

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