South Carolina Homeowners Insurance Quotes

South Carolina is one of the most beautiful states in the country and is packed with fun family activities. Regardless of whether you are looking for relaxing beach time, cultural activities, or great food and shopping, South Carolina has you covered.

South Carolina offers a diverse range of landscapes for your and your family to enjoy. Everything from the deep green forests of the Blue Ridge Mountains to the beautiful beaches on the Grand Strand is on tap when you visit or live in South Carolina and being outdoors is a huge part of everyday life.

South Carolina ranks 40th in the country when it comes to area size and is the 23rd most populous state with a population of 4,625,364. South Carolina currently has 46 counties and is growing quickly.

Whether you considering moving to the capitol of the Palmetto State, Columbia or one of our smaller villages like Belton, your are going to love living in South Carolina.

South Carolina Facts

South Carolina currently has 4,625,364 residents, which works out to about 4,257 households per zip code. The average number of people living in a household is a very reasonable three.

In the Palmetto state, the average household income is below the national average coming in at $26,963. The good news is that housing costs are extremely affordable in South Carolina, with an average home value of $70,979.

Homeowners Insurance in South Carolina

Homeowners insurance in South Carolina is slightly more expensive than the average in the U.S. but is still pretty affordable. The average annual premium for homeowners coverage in South Carolina is $1,214 while the country wide average in the U.S. is $1,034. This means that the residents of South Carolina are paying roughly 10.77 percent more than the national average.

The Carolinas (South and North Carolina) share roughly 500 miles of coastline and residents of the coast can often find it difficult to get homeowners insurance, which is why South Carolina set up the South Carolina Wind and Hail Underwriting Association.

Locally, the association is often referred to as the Beach Plan or Wind Pool and it is basically an Association of insurance companies who are willing to write wind and hail property insurance in the coastal area where consumers may have difficulty buying it through the standard insurance market.

The Association will provide up to $1,300,000 of protection (structure, contents, loss of use, increased cost of construction) for personal homeowner policies and up to $2.5 million for commercial policies.

It’s important to remember that this is a last resort policy and you may be able to find a cheaper policy with broader coverage in the marketplace so its best to shop around for homeowners insurance before resorting to the Beach Plan.

Also keep in mind that these policies only cover wind and hail damage, they do not cover flood damage. If your home is located in a flood prone area it will be necessary to purchase a flood insurance policy as well.

South Carolina Home Insurance Tips

There are ways to drive down the cost of your South Carolina homeowners insurance. Here are a few tips to help keep your premium affordable:

• Shop Around: This is the number one pieces of advice that experts will offer when it comes to saving money on homeowners insurance. Insurers rate risk differently so quotes can vary dramatically. Verify that you are comparing apples to apples when it comes to coverage levels and deductibles.
• Discounts: Insurance companies offer tons of discounts and you should verify that you are getting all of the discounts you are entitled to receive. It doesn’t matter if you are living in Charleston County or Barnwell County, insurance companies offer discounts for bundling, going paperless on your policy and even adding a security system.
• Upgrade Your House: This can be a big money saver if you live in coastal community. Adding storm shutters, a security system or even a sprinkler system can dramatically lower your premium.

Rates by Homeowners Insurance Type

Homeowners insurance comes in a number of different types, each designed for a specific type of home. Here is a quick overview of the different types of homeowners insurance and the average premium:

Dwelling Fire: A dwelling fire is a slimmed down policy that offers very narrow homeowners coverage. The premium tends to be much lower for these types of policies. A dwelling fire policy covers both smoke and fire damage and in some cases may offer protections against vandalism, wind and even explosions.

According to data from the NAIC, only 1.8 percent of the policies written in South Carolina are Dwelling Fire policies and the average premium for a Dwelling Fire policy is a very affordable $386.

HO-2: This is a homeowners policy that offers more basic coverage levels. It only covers certain perils that are listed in the policy.

According to data from the NAIC, a mere 1.8 percent of the policies written in South Carolina are HO-2’s. The average premium for a HO-2 policy is $970.

HO-3: This is a standard homeowner policy and it is the most common policy type written in South Carolina and all states for that matter. These policies provide protection from every peril except ones that are specifically excluded in the policy wording. Earthquake and flood damage are always excluded from a standard policy.

According to data from the NAIC, a whopping 76.7 percent of policies written in South Carolina are HO-3 policies and the average policy price is $1,214.

HO-4: If you rent an apartment in Bowman, Cross Hill or any other city in South Carolina, this policy is what you need to protect your home and personal property. These policies will cover your personal possessions and also offer liability protection in the event someone is injured in your apartment.

According to data from the NAIC, 12.3 percent of policies written in South Carolina are HO-4 policies.

HO-5: The HO-5 policy is for more upscale properties and newer homes. It covers additional structures on your property, loss of use and as well as personal property. Your personal property is covered against all perils unless they are specifically excluded by the policy. Older home will typically not qualify for an HO-5 policy.

According to data from the NAIC, only 1.2 percent of policies written in South Carolina are HO-5 policies and the average premium is $1,663.

H0-6: If you live in a condo or co-op in Camden or Lexington an HO-6 policy was designed specifically for your home. These policies cover both your personal property and the structural parts of the building that you actually own such as the walls within your unit. You should be aware that coverage is limited to 16 specific perils.

In South Carolina, roughly 4.9 percent of policies are HO-6 policies, according to data from the NAIC.

HO-8: An HO-8 policy is a very specific policy that is designed to cover older homes where the actual value of the house is less than the cost to rebuild it.

According to data from the NAIC, only 1.3 percent of South Carolina policies are HO-8’s. The average premium for these policy types is $793.

Insurance Coverage Risks in South Carolina

In South Carolina severe weather will have an impact on homeowner insurance rates. In 2015 and 2014 South Carolina was forced to make a disaster declaration due to severe weather. If you are considering moving near the coast, be sure to factor in the damage that severe weather can do and the related insurance costs.

Hurricanes can bring wind and hail damage, which can seriously damage your roof and siding. Wind can also uproot trees that may end up coming through your roof or damage other parts of your home. When shopping for a new home, experts always advise getting an insurance quote before closing on a house to make sure you can afford the cost of insuring the property.

Experts also recommend saving your coverage for major events. Numerous small claims will have a more dramatic impact on your premium than one large claim. Pay for smaller damage out of pocket and save your insurance for major claims.

If you are considering a move to South Carolina we can help you find an insurance policy for your new North Charleston, Sumter or any other South Carolina city home. We can shop up to 12 major insurance partners that will allow us to compare quotes and send them directly to your inbox so you can review them from the comfort of your own home.

Get started today, contact us to get a quote on your homeowners insurance in South Carolina.