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Best homeowners insurance in South Carolina for 2023

Updated Jan 03, 2023
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
See more providers in
Choose from insurers in
Mortgage

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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.

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.

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

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

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

Explore Bankrate's review

Best home insurance company for numerous discounts

J.D. Power:
825 /1,000
AM Best:
A ++
Avg. annual premium for 250k dwelling
$ 1,187
Auto-Owners Insurance review

Explore Bankrate's review

Best home insurance company for low average rates

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

Explore Bankrate's review

Best home insurance company for optional endorsements

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

Explore Bankrate's review

Best home insurance company for high-value homes

Cincinnati Insurance

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

Explore Bankrate's review

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.
Mortgage

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.
Location-Icon
Your information is kept secure
Caret DownCaret Up
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Powered by Coverage.com (NPN: 19966249)
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
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
See more providers in
Choose from insurers in
Mortgage

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.

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

Written by
June Sham
Insurance Writer

June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.

Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute