Wadmalaw Island, SC Home Insurance Quotes!

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Are you trying to find affordable homeowners insurance in Wadmalaw Island, SC? Although cost analysis and savings is a common factor for Wadmalaw Island homeowners when it comes to looking for a new homeowners insurance policy, we also strive to help you find dependable coverage for your home and family. It's important to make sure your home insurance policy provides the protection you need for home related damages due to loss, weather, theft or fires. An enhanced coverage doesn't always have to be expensive, that is why we like to work with you to apply all the following home insurance discounts when comparing companies and the cost of each policy. You may realize that there are additional discounts available other than the common smoke detectors, burglar alarm (security), and deadbolts. All of these possible discount items can help you save up to 40% or more on your homeowners insurance policy. Call 866-918-3404 or get quotes online and let our local Wadmalaw Island home insurance agent help you today!

Wadmalaw Island Average Homeowners Insurance Premiums

Average home insurance rates for homeowners living in the Wadmalaw Island area pay around $1055 per year. Smaller homes in the area with less risk and replacement cost coverage pay a little less than average, usually around $805 /yr. with discounts applied. For larger homes in this area over 2000 sq. ft in Wadmalaw Island, you may see higher rates in the $1355 range due to much higher replacement cost and upgraded coverage options.

Interesting Facts About the City of Wadmalaw Island, South Carolina

There are 5,450 people that happily call the wonderful city of Wadmalaw Island home. There are 1,099 housing units in town, making the average owner occupied household size roughly 3.

The average household income in Wadmalaw Island is an extremely respectable $56,250. One more great fact about Wadmalaw Island is the average cost of a house, which is $230,300 so housing is very affordable.

Review Coverage Types in Wadmalaw Island

Insurance for Wadmalaw Island homeowners comes in a variety of types. The following types are just a few of the specific home insurance types that are available:

  • HO-3: The HO-3 homeowners insurance policy is the most common policy being sold and most likely the one you already have or will be getting when you purchase a home. It will cover damage from everything except the perils that are excluded in the policy. Flood and earthquake damage are always excluded on a HO-3 policy.
  • HO-8: If you are purchasing an older home this is the policy for you. It is specially designed for older home and pays out on an actual cash value which means depreciation is subtracted from the replacement costs. Because the cost of original building materials, and fixing issues such as ancient wiring can be extremely expensive, a standard policy may not be available for older homes.
  • H0-4: This is more commonly referred to as renter's insurance and offers protection for all of the personal property that you keep in your apartment. A renter's policy also offers liability insurance, which will cover the medical costs if a person is injured in your apartment. Renters insurance is extremely affordable and if you live in an apartment you should absolutely have this coverage.

Wadmalaw Island, SC Home Insurance Average Premiums

Local Wadmalaw Island, SC home insurance quotes comparison

$805 /yr.

Shows Wadmalaw Island's lowest average rates with discounts applied.

For the city of Wadmalaw Island, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$805 /yr.
Average Coverage:$1055 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1355 /yr.

What is the average home insurance cost for a home in Wadmalaw Island, SC?

  • • The average homeowners insurance premium paid annually for a home in Wadmalaw Island is around $1055 per year.

What does it cost on average per month for home insurance in Wadmalaw Island, SC?

  • • Homeowners in Wadmalaw Island pay an average cost per month around $88.00 for insurance coverage.

Wadmalaw Island, SC Coastal Wind, Hail & Flood Information

Wadmalaw Island is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Wadmalaw Island is know for it's beautiful beaches and waterways. Because Charleston County (FIPS: 45019) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Wadmalaw Island, SC.

Coastal South Carolina Information: Coastal South Carolina Home Insurance Rates

Wadmalaw Island Flood Insurance and Windstorm Coverage
Wadmalaw Island is a coastal community that is often at risk from windstorms and other severe weather. In these types of areas, it is a good idea to carry wind and hail coverage. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood damage is another peril that South Carolina homeowners must deal with due to our extreme weather and sea level elevation. Unfortunately, a standard homeowners policy excludes flood coverage. In order to fully protect your home, you should consider purchasing a separate flood insurance policy.

Wadmalaw Island, SC - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $594,300 $494,642
February $592,800 $509,217
March $595,283 $531,098
April $598,712 $553,911

Homeowners insurance will help cover the cost to repair or replace your Wadmalaw Island 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 Wadmalaw Island
  • 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.
Enter your Zip Code:    

Get up to 12 competitive Wadmalaw Island, SC homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Wadmalaw Island, SC rates all in one place!

Saving Money Tips on Wadmalaw Island Home Insurance

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

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
16 ft. This is the average home elevation in Wadmalaw Island, SC

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Wadmalaw Island, South Carolina.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

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

South Carolina Homeowners Insurance News & Information

  • Coastal South Carolina Home Insurance Rates Posted on Saturday 30th December, 2023

    South Carolina is an amazing place to call home. It is overflowing with world-class cities, beautiful beaches, museums, and restaurants. It is truly a wonderful place to live. Unfortunately, some of our beautiful coastal cities, Myrtle Beach, Charleston and Hilton Head as an example come with some pretty high homeowners insurance premiums if you live […]

  • Will my home insurance cover roof replacement? Posted on Saturday 24th December, 2022

    The answer to the question “does insurance cover roof replacement,” is not always clear cut. In most cases, it will depend on the reason that your roof needs to be replaced.  If your roof has simply reached the end of its life, the cost to replace it will fall to you. On the other hand, […]

  • Am I underinsured for hurricane damage? Posted on Thursday 26th August, 2021

    Tropical Storm Henri hit the Northeast pretty hard over the last week and for many homeowners the pain caused by the storm could just be getting started. Unfortunately, many homeowners may be underinsured or not have the right coverage in place when it comes to tropical storm and hurricane damage. A recent study by Policygenius […]

  • What can increase the cost of your homeowners insurance? Posted on Wednesday 28th October, 2020

    If you are in the market for a house, the cost of homeowners insurance is probably not your number one priority but some homes come with risks that could dramatically up the cost of insuring your new home. Knowing what risks can be an insurance issue with a home can help you save not only […]

  • Hurricane Isaias is on the same track as Hurricane Dorian – What can we expect? Posted on Wednesday 5th August, 2020

    Hurricane Isaias is on roughly the same track as Hurricane Dorian and is the first hurricane to hit the Bahamas since Dorian stalled over the islands as a Category 5 monster killing dozens of people and causing massive destruction.  Here is a quick overview of both storms as well as a few tips on how […]

Wadmalaw Island, SC Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Wadmalaw Island so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Wadmalaw Island, SC?

- The average square footage in Wadmalaw Island is around 1,758 Sq. Ft. which would cost you around $230,300 to replace the home if you base the home on the price to build per square foot of $131.

Minimum Replacement Cost Total: $230,300

Location: Wadmalaw Island, South Carolina (Charleston County)

Average Building Cost Per Square Foot in Wadmalaw Island: $131 (low end)

Average Square Footage in Wadmalaw Island: 1,758 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$131$230,300
Some Additional Upgrades$164$287,875
Major Home Updates or Advancements$197$345,450

The dwelling coverage is calculated by the average cost per square foot ($131) in Wadmalaw Island, South Carolina times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $409,375 (Media price to build of $164 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.