Greenville, South Carolina, has a homeownership rate of 67.5%, with an average home price of $183K. With a higher homeownership rate, the need for the best cheap homeowners insurance in Greenville is strong. Fortunately, this is possible to find in Greenville, with average premium rates of $945 per year for $250K of dwelling coverage.
To help find the best, Bankrate reviewed various points among national and local carriers. From customer service to financial ratings, you have a range of choices when it comes to finding the best homeowners insurance in Greenville.
Best home insurance companies in Greenville
USAA, Allstate, ASI Progressive and Auto-Owners offer numerous benefits for homeowners in Greenville, making them some of the best options to consider. Bankrate reviewed the average rates, financial ratings, as well as the J.D. Power 2020 U.S. Homeowners Insurance Study to determine which carriers are among the best and most competitive options.
|Home insurance company||Average annual premium for $250K dwelling||J.D. Power score|
USAA offers insurance products for current military members and veterans. While the eligibility requirements are strict, those who qualify find they may save generously with their homeowners insurance. There are multiple discounts available, including bundling, to help you save hundreds each year. Standard coverage options like dwelling coverage are available, but specialty coverages such as earthquake protection are also available to round out your policy with USAA.
Learn more: USAA Insurance review
Allstate provides competitive rates and high customer satisfaction ratings for homeowners in Greenville, but the optional coverages are extensive. If you are looking for options such as identity theft restoration, select personal property coverage (for high-value items), business property and yard and garden protection, then Allstate provides these options. This is all available while backed by an A+ (Superior) rating from AM Best.
Learn more: Allstate Insurance review
ASI Progressive offers home policies underwritten by ASI, with the opportunity to receive bundling discounts with a Progressive auto policy. While the customer satisfaction ratings were the lowest among these providers, ASI maintains an A (Excellent) rating with AM Best for financial strength. Standard coverages are offered, and if you need to purchase flood insurance, ASI offers a separate policy to purchase.
Auto-Owners offers insurance in 26 states, with South Carolina being one of them. It scores high in the 2020 J.D. Power study, and earns an A++ (Superior) rating with AM Best. In addition to the standard dwelling coverage and liability, you’ll find a wide range of specialty optional coverages too. You can purchase equipment coverage, identity theft protection and coverage for water backup.
Learn more: Auto-Owners Insurance review
Home insurance considerations in Greenville
Homeowners insurance in South Carolina is not legally required by the state, but your lender usually requires it. Not obtaining the right coverage for your home might leave you vulnerable to financial harm if you are in a situation where you need to rebuild or repair damage to your home. Below are a few coverage options worth considering:
- Flood insurance: Greenville poses a moderate flood risk in some areas, so flood insurance may offer additional protection with repairing your home from flood damage.
- Liability insurance: provides financial protection if someone is hurt or injured on your property or if you accidentally cause damage to someone else’s home.
- Extended replacement: extends dwelling coverage above your Coverage A amount to offer a more robust payout if your home is destroyed or damaged. The extended payout amount is specified as a percentage, such as 125% or 150% of the stated dwelling coverage in your policy.
Home insurance discounts in Greenville
If you are on a mission to find cheap homeowners insurance in Greenville, one strategy should be to take advantage of as many discounts as possible. While Greenville residents may pay less compared to other locations in South Carolina, there is no reason to overpay on your policy.
- Policy bundling: can reduce premiums if you have other policies from the same insurance company where your home is insured.
- Claims-free discount: may apply to applicants who have not made a claim on their policy within the last three to five years. If you are a previous homeowner or condo owner, ask your carrier about a claims-free discount.
- Home alarm discount: may be available if you have added security protection in your home.
- Loyalty discount: might be available if you have been with the same carrier for several years.
Frequently asked questions
What is the best home insurance company?
South Carolinians should look at several factors to determine the best home insurance company. Competitive rates, customer service ratings, coverage options, digital tools and discounts are all aspects to be reviewed to determine the best insurance company for you.
How much does home insurance in Greenville cost?
The average cost of homeowners insurance in Greenville is $945 per year for $250k in dwelling coverage. To give you an idea of what others pay, the average annual premium in South Carolina for homeowners insurance is $1,532 a year. However, your rate may be more or less based on your personal factors, such as age, zip code, credit score, home features and coverage options.
How do I purchase homeowners insurance in Greenville?
Finding a homeowners policy can be completed either by going online and completing quotes based on your personal data, or working with a licensed agent. Whether you prefer working strictly online only or with someone personal, you may want to compare multiple carriers to find the best option for your situation.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.