Best Homeowners Insurance in South Carolina (2024)
Allstate, Farmers and Nationwide are the best homeowners insurance companies in South Carolina.
Allstate offers the cheapest home insurance rates in the state. Farmers is the best company for discounts. Nationwide has the best coverage options.
Cheapest home insurance companies in South Carolina
Allstate is the cheapest home insurance company in South Carolina, with rates that average $1,274 a year, or $106 a month.
Chubb, State Farm and USAA are next, though their average rates are quite a bit higher than Allstate’s.
| Company | Annual rate | Monthly rate |
|---|---|---|
| Allstate | $1,274 | $106 |
| Chubb | $2,646 | $221 |
| State Farm | $2,712 | $226 |
| USAA* | $2,911 | $243 |
| Progressive | $3,192 | $266 |
| Nationwide | $3,865 | $322 |
| Travelers | $4,058 | $338 |
| South Carolina Farm Bureau | $4,202 | $350 |
| Farmers | $5,155 | $430 |
To find the cheapest home insurance for your needs, compare home insurance quotes from several companies before you buy a policy.
Best home insurance companies in South Carolina
Allstate, Nationwide and Farmers are the best companies for homeowners insurance in South Carolina due to their rates, coverages and discounts.
| Company | Best for | Average rate | Customer satisfaction* | Complaint index** |
|---|---|---|---|---|
| Allstate | Low rates | $1,274 | 809 | 1.3 |
| Farmers | Coverages | $5,155 | 800 | 0.68 |
| Nationwide | Discounts | $3,865 | 812 | 0.97 |
*Higher is better; 819 is average
**Lower is better; 1.0 is average
Best for cheap rates: Allstate
Allstate is the best South Carolina home insurance company for affordable rates, charging $1,274 a year, on average.
There’s more to Allstate than cheap home insurance rates, though. It also offers an ample selection of optional coverages and discounts.
| Pros | Cons |
|---|---|
Cheapest average home insurance rates in South Carolina Offers many discounts that could make your premium even cheaper Many optional coverages that let you customize your policy to your needs | Customer satisfaction rating is below average Receives more complaints than expected for its size |
Best coverage options: Nationwide
Nationwide is South Carolina’s best home insurance company for optional coverages. Among its many add-on coverage offerings:
- Replacement cost coverage for belongings
- Equipment breakdown coverage
- Water backup coverage
- Identity theft coverage
| Pros | Cons |
|---|---|
Has the most optional coverages of companies surveyed Standard policies include credit card coverage and ordinance or law insurance Also offers many discounts that could make premium more affordable Complaint rating is good | Average home insurance rate is higher than the state average Customer satisfaction rating is below average |
Best discounts: Farmers
Farmers has the best home insurance discounts of the companies we surveyed in South Carolina.
You may get a discount and save money on your policy for bundling your home and auto policies with Farmers. You might qualify for other discounts if you:
- Add protective devices like fire alarms or a security system to your home
- Install automatic gas or water shutoffs
- Go three straight years without filing a claim
| Pros | Cons |
|---|---|
Most home insurance discounts of companies surveyed Good complaint rating | High average home insurance rate Fewer add-on coverages than main competitors Customer satisfaction rating is poor |
Average cost of home insurance in South Carolina
The average cost of homeowners insurance in South Carolina is $3,335 a year, or $278 a month.
Your home’s dwelling coverage limit plays a big role in what you pay for a home insurance policy.
The dwelling coverage portion of your home insurance policy helps pay to repair or rebuild the structure of your home if a “covered peril” damages or destroys it. Covered perils include events like fires, hail or even vandalism.
| Dwelling limit | Annual rate | Monthly rate |
|---|---|---|
| $350,000 | $2,952 | $246 |
| $400,000 | $3,335 | $278 |
| $450,000 | $3,749 | $312 |
What you pay for home insurance is based on several factors, including:
- Where you live in the state
- The age of your home
- The amount of coverage you buy
- Your deductible
- Your credit, insurance and claims histor
South Carolina home insurance rates by city
Where you live in South Carolina plays a major role in how much you pay for home insurance. In particular, homeowners in coastal areas of the state often pay much higher home insurance rates than those who live inland.
Greer homeowners pay an average rate of $2,138 a year for home insurance, for example. Homeowners in coastal Myrtle Beach pay $6,162 a year, on average.
These are the cheapest and most expensive average home insurance rates among South Carolina’s largest cities.
| City | Annual rate |
|---|---|
| Bluffton | $4,017 |
| Charleston | $5,000 |
| Columbia | $2,432 |
| Florence | $2,978 |
| Goose Creek | $3,939 |
| Greenville | $2,308 |
| Greer | $2,138 |
| Hilton Head Island | $5,376 |
| Mount Pleasant | $5,091 |
| Myrtle Beach | $6,162 |
| North Charleston | $4,089 |
| Rock Hill | $2,540 |
| Spartanburg | $2,181 |
| Summerville | $3,840 |
| Sumter | $2,715 |
The average cost of home insurance in Charleston, which is on the coast, is $5,000 a year. In Columbia, which is inland, the average annual cost is $2,432.
Additional home insurance coverages in South Carolina
South Carolina homeowners should consider buying windstorm and hail insurance as well as flood insurance due to the state’s risk of thunderstorms, tornadoes and hurricanes.
Windstorm and hail insurance
If you live on or near the coast in South Carolina, your standard home insurance policy probably won’t cover windstorm or hail damage. For windstorm or hail coverage in these areas, you need to buy separate insurance.
Many home insurance companies sell windstorm and hail insurance policies in South Carolina. If you can’t find an affordable policy through any of them, contact the South Carolina Wind and Hail Underwriting Association, also known as the Wind Pool. It also sells windstorm and hail coverage to homeowners in South Carolina’s coastal areas.
Flood insurance
Standard home insurance policies also don’t cover flood damage. To protect you and your home from flooding, you need to buy separate flood insurance coverage.
State law doesn’t require South Carolina homeowners to buy flood insurance, but your mortgage lender might require it if you live in a high-risk flood zone.
You can buy flood insurance through the National Flood Insurance Program (NFIP) or some private insurance companies.
Frequently asked questions
South Carolina law does not require homeowners to buy home insurance, but most lenders do require it. Your lender may also make you get flood insurance for your home if it’s in a high-risk flood zone.
Homeowners insurance in South Carolina costs $3,335 a year, on average. You might pay more or less than this average rate based on how much coverage you need, your policy deductible, where you live and more.
Allstate has the cheapest home insurance in South Carolina, with rates averaging $1,274 a year. (See more above.)