South Carolina Home Insurance

If you own a home in South Carolina, you may want to consider getting a homeowners insurance policy to protect your property and assets from various risks. Homeowners insurance is not required by law in South Carolina, but your lender may ask you to have it if you have a mortgage on your home . A typical homeowners insurance policy in South Carolina will include the following coverages:

- Dwelling: This covers the cost of repairing or rebuilding your home if it is damaged by a covered peril, such as fire, wind, hail, or vandalism.

- Other structures: This covers the cost of repairing or rebuilding structures on your property that are not attached to your home, such as a detached garage, shed, or fence.

- Personal property: This covers the cost of replacing your personal belongings, such as furniture, clothing, electronics, or jewelry, if they are stolen or damaged by a covered peril.

- Loss of use: This covers the additional living expenses you incur if you have to temporarily move out of your home while it is being repaired or rebuilt due to a covered peril.

- Personal liability: This covers the legal expenses and damages you are responsible for if you or a member of your household cause bodily injury or property damage to someone else.

- Medical payments: This covers the medical bills of someone who is injured on your property, regardless of who is at fault.

The amount of coverage you need depends on the value of your home and personal property, as well as your personal preferences and budget. You can also customize your policy by adding optional coverages, such as water backup, identity theft protection, or scheduled personal property. However, you should be aware that some perils are not covered by a standard homeowners insurance policy in South Carolina, such as flooding, earthquakes, or mold. You may need to purchase separate policies or endorsements to cover these risks.

The cost of homeowners insurance in South Carolina varies depending on several factors, such as your location, home characteristics, coverage limits, deductibles, and discounts. According to the Insurance Information Institute, the average annual premium for homeowners insurance in South Carolina was $1,269 in 2017, which was slightly higher than the national average of $1,211. However, you may be able to lower your premium by shopping around for quotes from different insurers, improving your home security and safety features, raising your deductible, or bundling your home and auto policies with the same company.

Homeowners insurance is an important investment that can help you protect your home and assets from unexpected losses. By understanding the laws, policies and cost of homeowners insurance in South Carolina, you can make an informed decision and find the best coverage for your needs.