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Best homeowners insurance in South Carolina for 2024

Based on our research, Bankrate found that State Farm, Auto-Owners and Allstate are some of the best homeowners insurance companies in South Carolina.

Updated Feb 21, 2024
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Compare the best homeowners insurance companies in South Carolina

Based on our research, which included an analysis of average rates from Quadrant Information Services and a number of other metrics, including customer satisfaction scores from the 2023 J.D. Power U.S. Home Insurance Study, the best South Carolina homeowners insurance companies include State Farm, Auto-Owners and Allstate. While only two carriers on our list have average rates lower than the state average of $1,209  per year, the others offer a range of coverage options, digital tools and other policy features that make them stand out.

If you’re looking for the best South Carolina home insurance, shopping around and comparing quotes from several carriers can be a helpful strategy, and you may want to start with these five companies.

Insurance company J.D. Power Average monthly premium Average annual premium
834
/1,000
$147
$1,759
Get a quote
790
/1,000
$51
$611
Get a quote
809
/1,000
$77
$923
Get a quote
829
/1,000
$106
$1,268
Read review
Not rated
$126
$1,516
Get a quote
*Premiums are for $250K in dwelling coverage
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

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ZIP codes examined

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Quick Facts
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$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
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1 out of every 20
insured homes makes a claim each year
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The top 5 home insurance companies in South Carolina

Best for numerous discounts

4.6

Rating: 4.6 stars out of 5

Avg. premium for $250K dwelling

$147/mo

Avg. premium for $250K dwelling

$1,759/yr

Customer satisfaction

834/1,000

Best for optional endorsements

4.1

Rating: 4.1 stars out of 5

Avg. premium for $250K dwelling

$51/mo

Avg. premium for $250K dwelling

$611/yr

Customer satisfaction

790/1,000

Best for low average rates

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$77/mo

Avg. premium for $250K dwelling

$923/yr

Customer satisfaction

809/1,000

Best for customer satisfaction

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$106/mo

Avg. premium for $250K dwelling

$1,268/yr

Customer satisfaction

829/1,000

Best for high-value homes

Avg. premium for $250K dwelling

$126/mo

Avg. premium for $250K dwelling

$1,516/yr

Customer satisfaction

Not rated

Additional South Carolina home insurance companies to consider

Bankers Insurance Group

Bankers Insurance Group

Who this may be best for

Homeowners who want a range of coverages

Founded in 1976, Bankers Insurance Group has a B+ rating from A.M. Best and an A+ from the Better Business Bureau. It offers a range of coverages, including homeowners insurance, which could make it a compelling choice for South Carolina residents. Particularly noteworthy is its focus on catastrophe-related coverage like flood insurance, a significant consideration in areas prone to such events. Bankers Insurance Group's 24/7 claims reporting service is a notable convenience, facilitating timely support whenever required.

South Carolina Farm Bureau

South Carolina Farm Bureau

Who this may be best for

Homeowners who want a community-focused approach and comprehensive insurance offerings

South Carolina Farm Bureau, a key player in the state's insurance market since 1955, stands out for its community-focused approach and comprehensive insurance offerings. As a mutual insurance company deeply rooted in South Carolina, it may be able to provide personalized services across a wide spectrum, including auto, property and agricultural insurance. The company emphasizes strong local ties and a commitment to supporting local farmers.

How Bankrate chose the best home insurance companies in South Carolina

Bankrate’s insurance experts chose the best homeowners insurance in South Carolina by using a series of key metrics. These included reviewing average home insurance premiums from Quadrant Information Services, as well as coverage options, discounts and mobile accessibility. We also considered third-party industry scores for customer service and financial strength ratings.

From there, the performance of home insurance companies in each of these categories was summed up in a Bankrate Score, which could help you get a fuller picture of a company and compare it with other carriers. The better a company did in each of these separate metrics, the higher its overall Bankrate Score for a maximum score of 5 out of 5.

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Finding cheap home insurance in South Carolina

In the landscape of South Carolina's home insurance market, finding affordable options can be a significant challenge. With factors like coastal weather risks impacting insurance costs, it may be a good idea for homeowners in the Palmetto State to seek out savings wherever possible. Experts agree that one potentially effective strategy is to obtain multiple quotes to compare prices and coverage options. This approach may not only help in finding the best cheap home insurance in South Carolina, but it also may help homeowners balance affordability with adequate protection. Consider being diligent in this process, especially considering the average home insurance cost in South Carolina can vary based on location and other factors. In essence, investing time in exploring various South Carolina homeowners insurance companies could potentially lead to substantial savings and peace of mind. Back to top Caret Up

Cheapest home insurance companies in South Carolina

In the quest for affordable home insurance in South Carolina, it becomes essential to consider a variety of options. Below is a table showcasing some of the most competitively priced home insurance companies in the state. This selection, made after examining various factors like coverage options and average home insurance cost in South Carolina, aims to assist homeowners in finding a balance between cost efficiency and reliable coverage. While not necessarily the best homeowners insurance in South Carolina for every individual's unique needs, these companies represent a starting point for those prioritizing budget-friendly options in their insurance search.

Carrier Monthly premium for $250k coverage Annual premium for $250k coverage Savings vs state avg. for $250k coverage
$51
$611
- $598
$77
$923
- $286
UPC
$91
$1,098
- $111
$106
$1,268
+ $59
$108
$1,296
+ $87
*based on $250K dwelling coverage

*based on $250K dwelling coverage

How to get cheap South Carolina home insurance

Even if you don't have a mortgage, it may be a good idea to have a homeowner policy in place to protect you financially in the event of a covered disaster. No homeowner wants to spend more than they have to for their homeowners insurance, which is why experts recommend having a strategy in place when you are shopping for a new policy. A good way to get started is to consider taking these steps to find the best South Carolina homeowners insurance:

  1. Assess your home. Consider how much dwelling coverage you will need to rebuild if necessary (keeping in mind that replacement costs can be very different from your home’s market value). Also, consider what you might need for liability coverage. Your insurer will need to know the details of your home, such as how old the roof is and how close you are to a fire station.
  2. Review the websites of the companies that interest you. Are you able to find answers to your questions there? Are discounts and coverage options listed?
  3. Learn more about how each company does business. If you prefer to do your business electronically, check and see if the company has a digital app. Make sure you can make payments, file claims and handle other common tasks online or via your smartphone. Or, if you prefer to do business face-to-face, see if the companies you’re interested in have local agents.
  4. Gather quotes. Insurance rates are highly personalized, and coverage features and discounts can vary widely between companies. For these reasons and more, experts recommend obtaining free quotes from multiple home insurance companies when considering a new policy. When comparing rates, it's vital to specify the same coverage types and amounts on each estimate so that comparisons are accurate. When evaluating quotes, it may also help to review each company's listed discounts to see if you would qualify for any.

Best home insurance discounts in South Carolina

When it comes to finding the cheapest policy for your needs, discounts are key. Almost all insurers offer at least a few potential discounts, and they can save you a significant amount of money, if you qualify. Many of them are easily earned, as well. Here are a few common discounts in South Carolina:

You'll generally save on premiums if you purchase more than one policy from a single company, such as your home and auto insurance.
Any devices or systems you have in place to protect your home, such as smoke detectors, burglar alarms or a sprinkler system, could earn you a discount.
Insurers often reward policyholders who do not make any claims for a certain period of time, such as five years. For this reason, you may want to avoid filing claims for minor repairs.
If you renovate your home's systems — plumbing, heating, cooling or electrical — you might score a discount from some insurance companies.
Because you are less likely to file a claim for theft, insurers may give you a discount if you live in a community that is protected by security guards, resident access cards or key-lock devices.

How to save on home insurance policy renewals in South Carolina

Navigating the home insurance market in South Carolina can be a challenge, but there are strategies that can help homeowners save on policy renewals. By understanding the factors that affect South Carolina home insurance costs, residents can make informed decisions and potentially reduce their premiums.

  • Review your policy annually: Regularly evaluating your policy ensures it still meets your needs and may reveal opportunities for savings.
  • Compare quotes: Exploring quotes from different South Carolina homeowners insurance companies could lead to finding more affordable options.
  • Inquire about discounts: Many insurers offer discounts for things like security systems or bundling policies, which might lower the average home insurance cost in South Carolina.
  • Improve home safety: Enhancements like storm shutters or reinforced roofing can reduce the risk profile of your home, potentially lowering insurance costs.
  • Increase your deductible: Opting for a higher deductible can lead to lower premiums, but you may want to ensure it's an amount you can comfortably afford in the case of a claim.
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Understanding home insurance costs in South Carolina

The average home insurance cost in South Carolina is influenced by various regional factors, making it distinct from other areas. Coastal locations, prone to hurricanes, often see higher premiums due to increased risk. Homeowners may want to consider these regional characteristics when searching for the best South Carolina homeowners insurance. Various factors, such as the age of the home, its construction type and proximity to the coast, could play a significant role in determining individual insurance costs. By understanding these elements, homeowners can be better prepared to navigate the market of South Carolina home insurance companies. Back to top Caret Up

How much is home insurance in South Carolina?

Homeowners in South Carolina pay an average of $1,209 annually for $250K of dwelling coverage. This is 31 percent less less than the national average of $1,759 — which is probably welcome news to homeowners in the state. It's also less than the averages paid by residents of neighboring states: Georgia homeowners, for example, pay an average of $1,761, while in North Carolina, residents average $1,429 for annual coverage.

One of the reasons for this may be lower construction costs in the state, which leads to a lower cost to rebuild. Coastal rates may be higher because of the increased risks of tropical cyclones, but those living inland may see lower rates.

South Carolina homeowners insurance rates by city

Home insurance rates in South Carolina can vary significantly based on the city in which a homeowner resides. Various factors, such as local weather patterns, crime rates and the general cost of living, can influence the cost of premiums. Below is a map and a searchable data table, offering a comprehensive view of how homeowners insurance rates differ across various South Carolina cities. This tool may allow homeowners to gain a more precise understanding of what they might expect to pay, providing valuable insights for both current and prospective homeowners in the state.

  • Rock Hill: $1,069 per year — 12 percent below state average
  • Bowling Green: $1,087 per year — 10 percent below state average
  • Campobello: $1,094 per year — 10 percent below state average
  • Williamston: $1,095 per year — 9 percent below state average
  • Seneca: $1,095 per year — 9 percent below state average
  • Georgetown: $1,452 per year — 20 percent above state average
  • Longs: $1,442 per year — 19 percent above state average
  • Galivants Ferry: $1,441 per year — 19 percent above state average
  • Loris: $1,422 per year — 18 percent above state average
  • Cope: $1,417 per year — 17 percent above state average

*Rates are for $250,000 in dwelling coverage.

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Insuring your South Carolina home

In South Carolina, homeowners face unique challenges in insuring their homes, largely due to factors such as coastal weather conditions and varying local risks. It's essential to understand how different coverage options can help safeguard against damage caused by severe weather, such as hurricanes and floods, which are prevalent in the state. Additionally, considering the diverse landscape of South Carolina, from bustling cities to serene coastal areas, each homeowner's insurance needs can differ significantly. Therefore, exploring a range of insurance options and understanding the specific risks associated with one's locale is crucial in obtaining adequate protection for homes in South Carolina. Back to top Caret Up

What does home insurance cover in South Carolina?

A standard HO-3 home insurance policy in South Carolina offers comprehensive coverage to protect homeowners from various unexpected events. This type of policy generally covers the dwelling, other structures on the property, personal property, liability and additional living expenses. For dwelling and other structures, an HO-3 policy provides open perils coverage, meaning it covers all perils unless specifically excluded. However, personal property coverage under this policy operates on a named perils basis.

In South Carolina, certain covered perils are particularly relevant due to the state's geographic and climatic conditions:

  • Hail or windstorms: These are significant concerns in South Carolina, especially in coastal areas. An HO-3 policy typically covers damage from windstorms and hail, which can be crucial for homeowners in regions prone to such weather events.
  • Falling objects: This coverage is vital in areas with a lot of trees or where severe weather could cause debris to fall on homes. It includes protection from damage caused by objects falling onto the property, a common occurrence during storms.
  • Accidental water overflow or discharge: Given the varied climate in South Carolina, homes can be susceptible to plumbing issues. Coverage for accidental overflow or discharge from plumbing, air conditioning or household appliances can be an important aspect of home insurance policies in the state.

While these are some of the most relevant perils for South Carolina homeowners, it's crucial to review all aspects of your policy to understand the full range of coverage. The average home insurance cost in South Carolina can vary based on factors like location and the specific perils covered. Exploring options from various South Carolina homeowners insurance companies can help in finding the best homeowners insurance in South Carolina that suits individual needs and budgets.

Additional home insurance coverage types in South Carolina

When you get homeowners insurance quotes in South Carolina, you will notice that some common coverage types — like dwelling, personal property, liability and additional living expenses coverage — are typically included. And while a basic homeowners insurance policy may be the right fit for some, there are some optional coverage choices that you may want to consider if you own a home in South Carolina. These include:

  • Flood insurance: Flood damage is not covered by standard homeowners insurance policies, but it is an important coverage type to consider, since flooding can have devastating financial consequences. Usually, you will need to buy a separate flood insurance policy through FEMA’s National Flood Insurance Program (NFIP) or private flood insurers, although a few companies offer flood coverage as an endorsement to your homeowners policy.
  • Earthquake coverage: Although earthquakes that cause significant damage are not common in South Carolina, one could happen at any time. Many home insurance companies offer earthquake coverage as an endorsement, but you may need to purchase a separate policy if you are in a particularly high-risk area.
  • Identity theft coverage: Many home insurance companies offer an endorsement for identity theft, which can help you pay for the costs associated with a stolen identity. This could include lawyer fees and credit monitoring expenses.

Discussing your unique situation with a licensed insurance agent might be a good idea. A local agent should be able to help guide you to choose appropriate coverage so that your homeowners policy fits both your budget and your insurance needs.

Related content:

Common South Carolina home insurance problems

In South Carolina, homeowners can often face unique challenges when securing home insurance. The state's diverse geography, ranging from coastal areas to inland regions, brings varied risks, impacting both the availability and cost of insurance. Also, the increasing frequency of severe weather events and the complexities of insurance regulations can pose problems for consumers seeking the right coverage.

Some common issues include:

  • High risk of natural disasters: Coastal areas are particularly susceptible to hurricanes and flooding, while inland regions may experience severe storms and hail. This elevated risk could lead to higher insurance premiums and sometimes limited coverage options.
  • Availability of flood insurance: While standard home insurance policies in South Carolina cover a variety of perils, they typically do not include flood damage. Securing separate flood insurance could be a challenge, especially in high-risk areas.
  • Insurance market volatility: The state's exposure to natural disasters might lead to fluctuations in the home insurance market. Homeowners could find it challenging to secure affordable coverage, and some insurers might withdraw from high-risk regions.
  • Understanding coverage limits and exclusions: Homeowners often face difficulties understanding the intricacies of their insurance policies. This includes deciphering coverage limits, exclusions and the differences between replacement cost and actual cash value coverages.

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Recent news in South Carolina homeowners insurance market

In South Carolina, especially along the coast, homeowners are facing significant challenges with soaring insurance premiums. A recent town hall revealed the extent of the issue, with residents reporting increases of several hundred percent in just a year or two. This surge is attributed to various factors, including global reinsurance trends, local inflation and heightened home repair costs. The situation is particularly acute in homeowner associations (HOAs), where shared insurance costs are becoming a substantial burden.

The state’s response to these challenges involves maintaining regulatory oversight to ensure fair and reasonable insurance practices. However, with primary insurers withdrawing from high-risk areas, many residents are forced to rely on the secondary insurance market, which operates with less regulatory oversight. The potential for capping insurance rate hikes was discussed, but is viewed cautiously, as it could lead to further withdrawals by insurance companies from the market, exacerbating the problem.

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Written by
Ashlyn Brooks

Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.

Edited by Editor, Insurance
Reviewed by Expert Reviewer, CFA, CPA