Best homeowners insurance in South Carolina for 2023

Allstate

Best for low average rates

Rating: 3.5 stars out of 5

3.5 Bankrate Score

JD Power: Not rated AM Best: A+

Average annual premium

^$ 901 for $250k dwelling coverage

Allstate Review Get a personalized quote

Average annual premium

^$ 901 for $250k dwelling coverage

Allstate Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Allstate made our list: Allstate, the second-largest U.S. home insurer based on market share according to the Insurance Information Institute (Triple-I), may be a company worth considering for South Carolina homeowners who want to manage their policies online and learn more about insurance. Allstate also offers a variety of unique endorsements, including yard and garden coverage, sports equipment coverage, musical instruments coverage, green improvement reimbursement and more. Its J.D. Power customer satisfaction score, however, is below the industry average, as its score in the J.D. Power 2023 U.S. Property Claims Satisfaction Study.

Who Allstate may be good for: Allstate's average rate for South Carolina homeowners was the lowest by far of any of our chosen companies. It may be worth getting a quote to see if they are able to do the same for you.

Pros

• Wide array of optional coverage to personalize your home insurance policy
• Multiple digital tools available to help with home insurance planning, such as Digital Locker

Cons

• Slightly lower AM Best financial strength rating compared to other national carriers
• Ranked below average for customer service in J.D. Power’s 2022 Home Insurance Study

South Carolina city	Allstate avg. annual premium for 250K dwelling
Charleston	$1,072
Columbia	$774
Mount Pleasant	$1,072
North Charleston	$1,072
Rock Hill	$730

Travelers

Best for optional endorsements

Rating: 3.3 stars out of 5

3.3 Bankrate Score

JD Power: 829/1,000 AM Best: A++

Average annual premium

^$ 1,530 for $250k dwelling coverage

Travelers Review Get a personalized quote

Average annual premium

^$ 1,530 for $250k dwelling coverage

Travelers Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Travelers made our list: If you are looking for a home insurance policy with extensive options for add-ons, Travelers may be worth checking out. The company’s robust home insurance offering could also help you add important coverage like higher limits for valuable items and financial assistance for rebuilding with green materials after a covered loss. To get the most for your money, consider contacting one of Travelers’ nearly 700 independent insurance agencies in South Carolina to discuss which discounts you qualify for. Unfortunately, though, Travelers does have the lowest J.D. Power customer satisfaction ratings among the companies we studied; its score is well below the industry average.

Who Travelers may be good for: If your circumstances require you to purchase a policy with customizations, consider Travelers’ policy options, which feature a more extensive add-on list than many insurers.

Pros

• Unique list of coverage add-ons to build out your home insurance policy
• Local agencies available for in-person support

Cons

• Performed below-average in J.D. Power’s 2022 Home Insurance Study
• Mobile app experience may not be as robust as its competitors

South Carolina city	Travelers avg. annual premium for 250K dwelling
Charleston	$1,183
Columbia	$1,326
Mount Pleasant	$1,331
North Charleston	$1,453
Rock Hill	$2,368

State Farm

Best for customer satisfaction

Rating: 3.2 stars out of 5

3.2 Bankrate Score

JD Power: Not rated AM Best: A++

Average annual premium

^$ 1,405 for $250k dwelling coverage

State Farm Review Get a personalized quote

Average annual premium

^$ 1,405 for $250k dwelling coverage

State Farm Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why State Farm made our list: State Farm might be an ideal fit for homeowners who value customer service and want to work with a live person. State Farm has established local agents throughout South Carolina that can assist with not just homeowners insurance, but all types of insurance products that the company offers. Although it features an array of coverage options to personalize your home insurance policy, its discount options are more limited, potentially making it more difficult to save.

Who State Farm may be good for: If having good interactions with your insurance company is important to you, State Farm may be a good fit. The company's high ranking with J.D. Power indicates that it places a high value on customer satisfaction, and is willing to go the extra mile to ensure that policyholders are happy with their insurance.

Pros

• Optional coverage available to tailor your home insurance policy to your needs
• Large network of local agencies for in-person service

Cons

• Limited number of discount opportunities
• Average premiums are slightly higher than the state average

South Carolina city	State Farm avg. annual premium for 250K dwelling
Charleston	$991
Columbia	$1,498
Mount Pleasant	$1,047
North Charleston	$991
Rock Hill	$1,315

Auto-Owners

Best for numerous discounts

Rating: 3.2 stars out of 5

3.2 Bankrate Score

JD Power: Not rated AM Best: A++

Average annual premium

^$ 1,164 for $250k dwelling coverage

Auto-Owners Review Get a personalized quote

Average annual premium

^$ 1,164 for $250k dwelling coverage

Auto-Owners Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Auto-Owners made our list: Contrary to what the name might suggest, Auto-Owners does not only sell auto insurance policies. The super-regional company also offers robust homeowners insurance coverage, with add-ons like guaranteed replacement cost coverage, equipment breakdown insurance and its exclusive Homeowners Plus package, which includes unique coverage like food spoilage if your power goes out due to a covered peril. You may even be able to save further with unique discounts like the advanced quote discount, automatic backup generator discount, mortgage-free discount and water shut-off system discount. However, its mobile app on Android and Apple devices received fewer stars compared to its competitors, and it may not be a good option for homeowners who want to manage their policies online.

Who Auto-Owners may be good for: If you're looking for robust coverage on a budget, Auto-Owner's low average rates and extensive potential discount list may appeal to you.

Pros

• Unique discount opportunities not found with other carriers
• Homeowners Plus package could be ideal for homeowners who want comprehensive coverage without individually selection

Cons

• Mobile app functionality not as robust as its competitors
• No online quoting; all policies must be written by its independent agents

South Carolina city	Auto-Owners avg. annual premium for 250K dwelling
Charleston	$1,251
Columbia	$1,197
Mount Pleasant	$1,329
North Charleston	$1,100
Rock Hill	$1,041

Cincinnati Insurance

Best for high-value homes

JD Power: Not rated AM Best: A+

Average annual premium

^$ 1,280 for $250k dwelling coverage

Cincinnati Insurance Review Get a personalized quote

Average annual premium

^$ 1,280 for $250k dwelling coverage

Cincinnati Insurance Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Cincinnati made our list: Cincinnati may be a good option for South Carolina homeowners who own a high-value home. This company sells three tiers of homeowners insurance — Executive Homeowner, Executive Capstone and Executive Classic. The Executive Homeowner is for any home value, while the Executive Classic policy covers homes with a replacement cost value of $500,000 and above and the Executive Capstone policy covers homes with a replacement cost value of $1 million and above. Unfortunately, the company was not rated by J.D. Power for its customer service experience.

Who Cincinnati may be good for: South Carolina homeowners with high-value homes worth $500K or more might want to consider getting a quote from Cincinnati. The company has extensive experience insuring high-value homes and knows what these properties need to be adequately protected.

Pros

• Tiered home insurance plans offer coverage for wide variety of homes
• Local independent agencies available for those who want tailored, in-person service

Cons

• Fewer discounts advertised than many competitors
• No J.D. Power customer satisfaction rating due to its smaller market share

South Carolina city	Cincinnati avg. annual premium for 250K dwelling
Charleston	$1,982
Columbia	$1,146
Mount Pleasant	$1,561
North Charleston	$1,561
Rock Hill	$1,016

• South Carolina home insurance rates methodology

  Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • 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.

• Bankrate score methodology

  Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

  Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

• Is homeowners insurance required in South Carolina?

  Homeowners insurance isn't required on a state level, but it often is by mortgage lenders. A homeowners policy in these situations financially protects both the lender and the homeowner. However, keeping a home insurance policy can be a good idea even if you own your home entirely. Without a policy in force, homeowners would be stuck paying out of pocket for any losses that occur to their property. Homeowners are financially liable if someone is injured on their property. The same goes for any damage to belongings on your property. For these reasons and more, experts often recommend having homeowners insurance even if you don't have a mortgage.

• What is the cheapest homeowners insurance in South Carolina?

  The cheapest homeowners insurance company depends on your individual characteristics. A variety of factors influence your annual premium, including your ZIP code, claims history, the value and age of your home, age of your roof, your credit-based insurance score, proximity to a fire station and what coverage and deductibles you choose. It might be helpful to shop around and get multiple home insurance quotes to compare prices and coverage options.

• How can I save money on my homeowners insurance?

  You can take a few steps to get a lower home insurance rate. First, shopping around and comparing rates is one of the best ways to find the most competitive premium for your situation. Each insurance company has its own way of rating policies, which means the same coverage will cost different amounts from different carriers. Next, you can take advantage of home insurance discounts, like savings for home alarm systems or being claims-free. Another way to lower your premium is to increase your deductible. However, this means you will have to pay more out of pocket if you file a claim, so choose your deductible wisely.

• Does my homeowners insurance coverage hurricane damage?

  Hurricane wind damage is covered by most standard homeowners policies in South Carolina but you may be subject to a separate windstorm deductible that ranges from one percent to five percent of your dwelling limit. You need a separate flood insurance policy for flood-related hurricane damage. Flood coverage is available from the federally-backed NFIP, private flood insurers or an endorsement to your home insurance policy.

• When can a company cancel my homeowners insurance policy?

  A home insurance company can cancel your policy at any time while your policy is active, and can nonrenew your policy when the term ends. Home insurance policies can only be canceled for a few reasons, such as misrepresenting information on your application or if your insurer is declared insolvent. Perhaps most frequently, home insurance policies are canceled after an inspection. If the company discovers a structural issue, a roof in poor condition or an ineligible pet, you may receive a cancellation notice. 

  You may be wondering what to do if your home insurance is canceled. Your provider is required by South Carolina regulations to send you a written notice 30 days prior to the cancellation or nonrenewal date, so you’ll have time to search for a new policy. The notice must specifically explain the reason for the policy cancellation or nonrenewal. To find a new provider that suits your needs, you may want to compare policy offerings, get multiple quotes and review third-party ratings.