Is homeowners insurance required in South Carolina?

Home insurance in South Carolina isn’t required by law, but mortgage lenders generally require you to have a policy as a condition of your loan. Even if you own your home in full, home insurance is still usually a good purchase. If you forgo a policy, you’ll be responsible for any and all damage that happens to your home as well as any liability claims and legal fees that arise from injuries. Home insurance is much more affordable than the catastrophic expenses that can come from severe home damage and lawsuits, and it’s generally a smart way to protect your finances.

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 1% to 5% 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 be canceled for a few reasons, such as misrepresenting information on your application. 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. To find a new provider that suits your needs, you may want to compare policy offerings, get multiple quotes and review third-party ratings.

Best Homeowners Insurance in South Carolina for 2023

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Quick Facts

$382/year

average savings through Bankrate

2 out of 3 homes

are underinsured

1 out of every 20

insured homes makes a claim each year

100% of homes

need insurance before getting a mortgage

See more providers in

Choose from insurers in

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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 rankings for customer service and financial strength.

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 full 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.

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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: $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.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Best home 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 2022 J.D. Power U.S. Home Insurance Study, the best South Carolina homeowners insurance companies include State Farm, Auto-Owners and Allstate. While only one carrier on our list have average rates lower than the state average of $1,165 per year, the others offer a range of coverage options, digital tools and other policy features that make them stand out amid the competition.

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	Average annual premium	J.D. Power	AM Best
State Farm Rating: 3.2 stars out of 5 3.2 Bankrate Score	Average annual premium $1,474	J.D. Power 829 /1,000	AM Best A++ (Superior)	Read review
Auto-Owners Rating: 3.2 stars out of 5 3.2 Bankrate Score	Average annual premium $1,187	J.D. Power 825 /1,000	AM Best A++ (Superior)	Get a quote
Allstate Rating: 3.5 stars out of 5 3.5 Bankrate Score	Average annual premium $927	J.D. Power 815 /1,000	AM Best A+ (Superior)	Get a quote
Travelers Rating: 3.3 stars out of 5 3.3 Bankrate Score	Average annual premium $1,404	J.D. Power 794 /1,000	AM Best A++ (Superior)	Get a quote
Cincinnati Insurance	Average annual premium $1,345	J.D. Power Not rated	AM Best A+ (Superior)	Get a quote

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Insurance Disclosure

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.

Best home insurance company for customer satisfaction

State Farm

3.2 Bankrate Score

State Farm Insurance review

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J.D. Power:: 829 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for 250k dwelling: ^$ 1,474

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 State Farm offers. Although the carrier offers an array of coverage options to personalize your home insurance policy, its discount options are more limited, potentially making it more difficult to save.
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 may be slightly higher than the state average

State Farm Insurance review

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Best home insurance company for numerous discounts

Auto-Owners

3.2 Bankrate Score

Auto-Owners Insurance review

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J.D. Power:: 825 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for 250k dwelling: ^$ 1,187

Contrary to what the name might suggest, Auto-Owners does not just sell auto insurance policies. The 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.
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 options may not be as user-friendly as its competitors

No online quoting

Auto-Owners Insurance review

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Best home insurance company for low average rates

Allstate

3.5 Bankrate Score

Allstate Insurance review

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J.D. Power:: 815 /1,000
AM Best:: A ⁺
Avg. annual premium for 250k dwelling: ^$ 927

Allstate, the second-largest U.S. home insurer based on market share according to the 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. Compared to some of the other carriers on this list,however, it does have a slightly lower AM Best financial strength rating.
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

Allstate Insurance review

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Best home insurance company for optional endorsements

Travelers

3.3 Bankrate Score

Travelers Insurance review

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J.D. Power:: 794 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for 250k dwelling: ^$ 1,404

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 one of the lowest J.D. Power customer satisfaction ratings among the companies we studied; its score is well below the industry average.
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

Travelers Insurance review

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Best home insurance company for high-value homes

Cincinnati Insurance

Cincinnati Insurance review

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J.D. Power:: Not rated
AM Best:: A ⁺
Avg. annual premium for 250k dwelling: ^$ 1,345

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 rebuilding value of $500,000 and above and the Executive Capstone policy covers homes with a rebuilding value of $1 million and above. Unfortunately, the company was not rated by J.D. Power for its customer service experience.
Pros
Tiered home insurance plans offer coverage for wide variety of homes

Local agencies available for those who want tailored, in-person service
Cons
Slightly lower financial strength rating from AM Best compared to other carriers on this list

No J.D. Power rating for it’s customer service

Cincinnati Insurance review

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Advertising Disclosure

This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

Zip code

Your information is kept secure

What brings you to Bankrate?

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Insurance Disclosure

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.

Quick Facts

$382/year

average savings through Bankrate

2 out of 3 homes

are underinsured

1 out of every 20

insured homes makes a claim each year

100% of homes

need insurance before getting a mortgage

See more providers in

Choose from insurers in

Leaving so soon? Your custom quotes are just minutes away.

How much is homeowners insurance in South Carolina?

South Carolina homeowners insurance costs, on average, $1,165 per year for $250,000 in dwelling coverage. For comparison, the national average home insurance premium for the same amount of coverage is $1,383 per year. South Carolina homeowners pay about 16 percent less for home insurance than the average American, and they also pay less for coverage than homeowners in neighboring states. North Carolina’s average home insurance premium is $1,317 per year and Georgia’s average annual premium is $1,373.

South Carolina is on the Atlantic Coast and prone to impacts from tropical cyclones, as well as frequent tornadoes. However, average real estate values across the Palmetto State are lower than Georgia and North Carolina, which could result in a lower average cost to insure your home. There may also be a lesser risk for other types of losses in South Carolina, depending on specifically where you live in the state.

SOUTH CAROLINA CITY	AVERAGE ANNUAL PREMIUM FOR $250K DWELLING COVERAGE
Charleston	$1,316
Columbia	$1,064
Goose Creek	$1,399
Greenville	$984
Hilton Head Island	$1,354
Mount Pleasant	$1,276
North Charleston	$1,193
Rock Hill	$980
Summerville	$1,404
Sumter	$1,225

Home insurance in South Carolina

Many homeowners are drawn to South Carolina’s beautiful beaches, but living in a coastal state has risks. Homeowners in South Carolina should be aware of common insurance losses so they can protect their finances against the threat from severe weather events.

Common causes of loss in South Carolina

The biggest causes of home damage in South Carolina are related to tropical cyclones and related severe weather impacts, such as wind damage and flooding. According to data from CoreLogic, nearly 364,000 homes in South Carolina are at risk of damage from storm surge, which could cause up to $86.4 billion in property damage. It is not uncommon for numerous hurricanes and tropical storms to hit the state each season. In late 2020, Tropical Storms Eta and Zeta created significant flooding issues throughout the state. South Carolina also sustained significant impacts from Hurricane Florence in 2018.

Other common causes of loss include:

Wildfires: Wildfires are common in South Carolina during late winter and early spring. On average, wildfire management teams respond to more than 5,000 wildfires each year in the state.
Tornadoes: According to data from the Triple-I, South Carolina ranks among the Top 20 states for tornadoes, with 24 twisters in 2021. Tornadoes with destructive winds, rain and hail can cause serious property damage and can occur anywhere in the state.
Theft: In 2020, there were 22,359 reported breaking and entering incidents in South Carolina. Theft is not a prominent cause of loss, but it does happen, particularly in areas of the state with an above-average crime rate.
Earthquakes: It may surprise you to learn that earthquakes are actually relatively common in South Carolina, with approximately 10 to 15 recorded each year. Only three to five of them are strong enough to be felt by residents, but a study conducted in 2001 concluded that South Carolina is at a high risk for earthquake activity. Earthquakes are not covered by standard home insurance policies.

Once you have a better understanding of what kinds of property damage commonly occurs in your area, you may feel better informed to choose endorsements to protect your finances.

Home insurance coverage options 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 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. 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, or 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.

Frequently asked questions

Home insurance in South Carolina isn’t required by law, but mortgage lenders generally require you to have a policy as a condition of your loan. Even if you own your home in full, home insurance is still usually a good purchase. If you forgo a policy, you’ll be responsible for any and all damage that happens to your home as well as any liability claims and legal fees that arise from injuries. Home insurance is much more affordable than the catastrophic expenses that can come from severe home damage and lawsuits, and it’s generally a smart way to protect your finances.
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.
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.
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 1% to 5% 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.
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 be canceled for a few reasons, such as misrepresenting information on your application. 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. To find a new provider that suits your needs, you may want to compare policy offerings, get multiple quotes and review third-party ratings.

Best homeowners insurance in South Carolina for 2023

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How Bankrate chose the best home insurance companies in South Carolina

Methodology

Bankrate Score

Best home insurance companies in South Carolina

State Farm

Auto-Owners

Allstate

Travelers

Cincinnati Insurance

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How much is homeowners insurance in South Carolina?

South Carolina homeowners insurance rates by city

Home insurance in South Carolina

Common causes of loss in South Carolina

Home insurance coverage options in South Carolina

Frequently asked questions

Is homeowners insurance required in South Carolina?

What is the cheapest homeowners insurance in South Carolina?

How can I save money on my homeowners insurance?

Does my homeowners insurance coverage hurricane damage?

When can a company cancel my homeowners insurance policy?