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The average cost of home insurance in South Carolina is $197 per month. Multiple insurers servicing South Carolina — such as Nationwide, Stillwater, Amica, Travelers, and South Carolina Farm Bureau Insurance — may offer policy rates lower or higher than the monthly average.
Homeowners insurance rates vary throughout South Carolina, especially depending on the home’s location. Wildfires pose the greatest environmental risk, and many homes in the state are highly vulnerable to flooding.
Policies for coastal homes may have higher premiums if they also have flood insurance, while homeowners in central South Carolina might extend their coverage limitations due to the increased risk of wildfire damage.
Learn More: Flood Insurance: The Ultimate Guide for Homeowners
Table of contents
- Best home insurance companies in South Carolina
- How much is homeowners insurance in South Carolina?
- What are the cheapest home insurance companies in South Carolina?
- How much homeowners insurance do you need in South Carolina?
- What are some of the biggest risks when owning a home in South Carolina?
- How can you save money on homeowners insurance in South Carolina?
- Average home replacement cost in South Carolina
- South Carolina home insurance FAQs
Best home insurance companies in South Carolina
Many reputable home insurance companies serve South Carolina, including both nationally known insurers and locally owned providers. Though rates will vary, remember that the best home insurance company is the one that can provide you with the coverage you need at a rate you can afford.
Best large insurer: Nationwide
Nationwide was founded in 1926 as an auto insurance company and began selling property insurance in 1934. It received a score of 816/1,000 in J.D. Power’s 2022 U.S. Home Insurance Study for Overall Customer Service Satisfaction.
Nationwide customers pay an average of $150 per month for home insurance coverage.
A+ from A.M. Best
Some policyholders can bundle coverages for discounts
One of the cheapest insurers in South Carolina on average
Water backup coverage may not be included
Although it scored 816, Nationwide received a lower J.D. Power score than some major competitors
Larger provider that lacks the boutique service feel
Best insurer for cheap rates: Stillwater
Stillwater offers the cheapest average rates for homeowners in South Carolina, at $86 per month. Founded in 2000, Stillwater Insurance Group offers homeowners insurance throughout the nation.
Positive ratings from A.M. Best and Better Business Bureau (BBB)
Coverage options available across the country
Lowest average monthly cost in South Carolina
Short company history compared to other national insurers
Website doesn’t list optional coverages, like flood insurance
No offices in South Carolina
Best for wildfire coverage: Amica
Amica’s Standard Choice policy provides coverage for property damage from fires and lightning, including wildfires. Based in Rhode Island, the company was founded in 1907.
Scored an 849/1,000 in the J.D. Power 2022 U.S. Home Insurance Study of Overall Customer Satisfaction
More than 100 years of experience offering fire insurance
One-third of policyholders have been with Amica for 20+ years
Even though it offers nationwide coverage, it’s not one of the largest insurers by market share in the country
Only HO-3 and HO-5 policies available
No independent agents limits opportunities to comparison shop products
Best insurer for high-value homes: Travelers
With more than 150 years of insurance experience, Travelers is a good choice for high-value home insurance in South Carolina. It regularly ranks as one of Fortune’s “World’s Most Admired Companies” and provides insurance products across the U.S., U.K., Canada, and Ireland. Customers pay an average of $174 per month for coverage.
Offers expanded coverage for high-value homes
Lower than state average monthly cost
Exclusive discounts for employer, association, and credit union groups
Low J.D. Power score of 794/1,000 in overall customer satisfaction, falling behind over 20 competitors.
Lower BBB Rating: A with 1.08/5 stars
Best regional insurance company: South Carolina Farm Bureau Mutual Insurance Company
South Carolina Farm Bureau Mutual Insurance Company is a members-only insurer serving the state of South Carolina. Selling insurance products since 1952, the company has served residents through a variety of disasters, developing a reputation for quick claim responses after Hurricane Hugo.
Local to South Carolina
Offers flood insurance and personal property floater endorsements
Discounts available for bundling auto and home policies
Limited discounts available
Only four statewide claim center locations
Membership required to obtain insurance
Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.
How much is homeowners insurance in South Carolina?
Monthly homeowners insurance averages in South Carolina can range from as low as $86 through Stillwater to as high as $518 through Safeco. Several factors, including your home’s location, the type of policy, and your deductible amount, will influence your unique monthly rate.
How your policy choices affect home insurance rates in South Carolina
Here’s a closer look at how the policy choices you make affect your overall insurance expense.
Your policy form
Most homeowners in South Carolina will purchase an HO-3 policy. This is the most common home insurance policy form for a standard single-family home. The HO-3 is popular because it offers a great level of coverage that includes broad named peril coverage for your belongings.
A peril is a cause of loss, like a theft or fire, that damages or destroys your property or possessions. Most homeowners insurance policies cover some perils, though many explicitly state either what is or isn’t included. For example, a flood is considered a peril but is rarely included in a standard homeowners insurance policy.
Peril coverages are another factor that influences your policy rate. HO-1 and HO-2 policies cover a limited number of named perils, so these policies might be cheaper than HO-3 policies with HO-5 coverage, which provides comprehensive coverage on all perils except those which are specifically excluded.
Knowing which perils are or aren’t covered in your policy is one way you can ensure your home has the exact coverage you want. For instance, some homeowners don’t realize that while wind damage from storms might be covered, flooding from storms isn’t. This would leave an uninsured homeowner to absorb all the damage costs from the flood.
Learn More: Understanding the 8 Types of Homeowners Insurance
Your coverage level
The amount and limits of coverage on your home will influence your monthly premiums. Optional coverages, for example, will usually raise your rates because you’re asking the insurer to provide more reimbursement in the event of a claim.
Limiting your coverage, such as choosing an actual cash value policy instead of a replacement cost value policy, will likely lower your rates because you’re asking the insurer to provide a smaller reimbursement.
You should consider two main expenses when choosing a homeowners insurance policy: your monthly premiums and your deductible. A deductible is an agreed-upon amount that you’ll pay toward a claim before your insurer will start paying toward the damages.
Deductibles range in price, and insurers usually set a minimum required amount. The benefit of a lower deductible is that you’ll spend less out of pocket on damages. The drawback is you’ll likely pay a higher premium.
The opposite is also true. A higher deductible usually yields a lower premium, though you’ll pay more out of pocket when paying for damages. The deductible limit you choose is up to you, but you should strongly consider how your premium and deductible will influence your financial flexibility. And if you do choose a higher deductible, make sure it’s an amount you can afford should you need to file a claim.
How location affects home insurance rates in South Carolina
Although the state average for home insurance rates in South Carolina may be more or less than a neighboring state, different ZIP codes within South Carolina will display a range of homeowners insurance prices. Most homeowners understand how locations influence policy rates. For instance, it’s understandable that homes on Hilton Head Island may be more expensive to insure because of their increased risk of oceanic storm damage.
However, other factors are also important. Two homes may be at risk for wildfires, but one may receive a lower rate because of its proximity to a fire station. Homes near Charleston are at a significantly higher risk of burglary than homes in Branchville or Quinby, which may increase rates.
|City||Average Monthly Quote|
|Hilton Head Island||$261|
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What are the cheapest home insurance companies in South Carolina?
Stillwater, Nationwide, and SageSure are the three insurers with the cheapest quotes in South Carolina, with average monthly rates listed at $86, $150, and $164, respectively. Compared to the statewide monthly average of $197, these insurers are cheaper options.
Keep in mind that specific coverage options and unique home features may result in a more expensive quote, even from one of the insurers listed below.
|Insurance Company||Average Monthly Quote|
|Midvale Home & Auto||$186|
How much homeowners insurance do you need in South Carolina?
By law, you don’t need any homeowners insurance. According to the terms of your mortgage, however, your lender may require a certain minimum-coverage policy. You may then also opt to increase or add to that coverage.
Make sure you understand exactly what’s covered and what’s excluded when you purchase your policy. It’s good practice to explicitly ask about exclusions on the policy. Thankfully, many standard homeowners policies have several standard components that are similar no matter the insurer.
What home insurance coverages should you buy in South Carolina?
If you’re searching for homeowners insurance in South Carolina, it’s helpful to know that most traditional policies, such as HO-3s, feature standard coverages. Although specific details may be different, most standard parts of a home insurance policy include:
Coverage for the home’s structure and other structures: This element of the policy typically covers damages to your dwelling, which is the structure of the home itself, and other structures, like garages and gazebos.
Coverage for your personal possessions: Your personal belongings, such as clothing, furniture, and sports equipment, are also covered up to a certain limit. These items are usually covered off-premises as well, for instance, if you had your luggage stolen while traveling.
Liability protection: This protects you against lawsuits resulting from any injury or property damage another person sustains on your property. This often includes coverage for pet damages, such as if your dog bit a neighbor.
Additional living expense coverage: If you have to temporarily live elsewhere because damage to your home makes it uninhabitable, this coverage pays for expenses like hotel accommodations, meals, and certain other living expenses. These coverages are applicable to insured disasters, like a fire, but not to uninsured issues, like a flood.
What optional home insurance coverages should you buy in South Carolina?
All homeowners insurance policies cover perils, though not every peril is specifically covered by a standard policy. Some inclusions or exclusions may be named. In many cases, a traditional homeowners insurance policy doesn’t cover:
Flood: Flooding, including from sump pump failure, snow melting, or rainstorms, isn’t traditionally covered by a standard homeowners insurance plan. You can purchase optional flood insurance through the National Flood Insurance Program.
Earthquake: Earthquake damage isn’t covered by a typical homeowners insurance policy, and the probability of earthquakes impacting the South Carolina region is very low. However, many insurers offer optional earthquake insurance if you feel it’s necessary.
Nuclear radiation: One specific example of nuclear radiation not covered by a homeowners insurance policy is radiation from an accident at a nuclear power plant. Although you can’t purchase nuclear radiation insurance, there are laws in place to compensate the public damaged by these accidents.
Maintenance issues: These include wear and tear, deterioration, rust, rot, and mold issues that may damage your home. Some insurers provide limited mold coverage.
Animal damage: Similar to maintenance damage, damage due caused by the presence of insects, rodents, or another animal isn’t covered. This includes major issues like termite damage.
Sewer backup: Sewer backup or water leaks stemming from municipal sewer lines aren’t traditionally covered. Sump pump issues resulting in water damage from septic tank backups are also not typically covered.
How much home insurance coverage should you have in South Carolina?
After you define the requirements of your mortgage lender, you may want to consider whether this coverage level meets your needs. When choosing a homeowners insurance policy, you should also consider the unique factors that put your home at risk and how different coverage levels affect your premium.
Many homeowners first focus on the value of their home and how much coverage they need to adequately protect against perils. These incidents could include environmental dangers, like wildfires and floods, so it’s also important to know the risk factors related to your home’s location and geography as well.
Depending on the location and the contents of your home, you may also want to consider optional coverages. Flood insurance, for instance, may be especially useful for homes on the coast. Adding riders to your standard coverage, such as riders for high-value art or jewelry, may also be appropriate.
Although no single home insurance policy works for every homeowner, customizing your policy allows you to secure the exact coverage you need for your property, your possessions, and the people who visit your home. Make sure you consider quotes from at least three different insurers before purchasing a policy to ensure you’re getting a policy that meets your needs.
What are some of the biggest risks when owning a home in South Carolina?
South Carolina homes are vulnerable to a number of perils, including thunderstorms and flooding. Standard homeowners insurance policies cover some of these perils, such as storm damage. Others, like flooding, require a separate insurance policy. These are the three most common perils in South Carolina:
Wildfires: The most common peril in South Carolina, wildfires burn an average of 30,000 acres each year. Most standard homeowners insurance policies cover damages from fire, including wildfires.
Tornadoes: Tornadoes are more common in South Carolina than they are in 24 other states. Approximately 11 tornadoes impact South Carolina each year. Most standard homeowners insurance policies cover wind damage, including tornado damage.
Winter storms: Many areas of South Carolina are vulnerable to winter storms, such as Oconee County, which has a 100% probability of one or more winter storms per year. Winter storm damage is typically covered under a standard homeowners policy, though flooding from winter storm damage is typically not.
It’s important to remember that while some counties are more at risk for perils than others, these three can affect all homes throughout the state.
How can you save money on homeowners insurance in South Carolina?
Here are some tips to help you keep your homeowners insurance costs under control.
Most insurers that sell multiple insurance products provide discounts to those with multiple policies. One of the most common bundles is combining home and auto insurance. These bundles can lower your overall coverage expenses.
Review your policy annually
Your coverage needs may change over time. By reviewing your policy, you can make sure that your coverage reflects your needs and the actual cost of rebuilding your home. You can also opt to reduce contents coverage on your wind and hail policies if they’re excessive.
Seek out credits
South Carolina homeowners may qualify for certain credits, specifically if their property is located in a coastal region. Some insurers offer mitigation credits, which discount premiums for properties strengthened against wind damage. There’s also an Excess Premium Tax Credit, which benefits homeowners whose insurance costs exceed 5% of their income.
Comparing quotes and coverages side by side is the best way to determine how you can save on homeowners insurance without reducing your necessary coverage. Use a comparison-shopping tool to evaluate which insurer can provide you with not only the lowest rate but also the best discounts, most comfortable premiums, and the level of property protection you need.
Average home replacement cost in South Carolina
The replacement cost of your home is how much it costs to repair or replace the structure using the same building materials and construction methods. Since replacement cost policies reimburse you for the cost of depreciation, you’ll receive the full amount required to repair or replace the structure.
The replacement cost of your home should influence your amount of coverage. Replacement cost policies usually come with higher premiums. However, they may help you maximize how much you’re reimbursed compared to an actual cash value policy, which doesn’t reimburse you for the depreciation of the structure.
Here are the average prices of several homes in cities across South Carolina so you can understand the replacement cost.
|City||Average Home Value|
|Hilton Head Island||$509,561|
South Carolina home insurance FAQs
Here are answers to some commonly asked questions about homeowners insurance in South Carolina.
The average monthly cost of home insurance in South Carolina is $197, though each policyholder will receive a quote based on their individual home factors and coverage needs. Secondary coverages, like flood insurance and umbrella policies, will likely affect the total cost you pay for home insurance if purchased.
At $197, the average cost of homeowners insurance in South Carolina is $13 cheaper than the national average of $210, according to Insurify data.
One reason rates may be cheaper in South Carolina is that it has a smaller shoreline than states like Florida. Its smaller shoreline limits the likelihood of direct hits from tropical storms and hurricanes.
The three main types of homeowners insurance policies are actual cash value (ACV), replacement cost value (RCV), and extended replacement cost policies. ACV policies reimburse policyholders for the current value of their damaged item, minus depreciation.
RCV policyholders receive the actual cash value of the item or structure plus the depreciated value, which will pay for a new item at current costs. Extended replacement cost extends the dwelling coverage over the original insured amount. This is helpful for homeowners who discover that rebuilding costs exceed the coverage based on the home’s original calculated value.
South Carolina law doesn’t require a property owner to have homeowners insurance. However, mortgage lenders usually require it as a condition of accepting a loan. All homeowners should consider at least a minimum-coverage policy to protect their homes and possessions.
These policies often protect you against lawsuits from injuries on your property. For instance, if a service worker or a neighbor were to injure themselves on your property, your policy will likely protect against legal liability.
No, hurricane insurance isn’t required in South Carolina, though many standard homeowners insurance policies may cover heavy wind damage. Unlike flood insurance, hurricane insurance isn’t a stand-alone policy; rather, this damage is covered by a combination of a standard homeowners insurance policy, windstorm insurance, and flood insurance.
Keep in mind that many insurers declare a moratorium on new policies and coverage changes when a storm is named and is likely to impact your area. If you need to improve your existing insurance or purchase new coverage, such as flood insurance, do so before the start of hurricane season.
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- J.D. Power. "Bundle Fumble? Rising Auto Insurance Premiums are Killing Home Bundles, J.D. Power Finds." Accessed February 14, 2023
- Better Business Bureau. "Stillwater Insurance." Accessed February 15, 2023
- Better Business Bureau. "Business Profile: Travelers." Accessed January 23, 2023
- South Carolina DOI. "Hurricane Prepardness." Accessed February 15, 2023