The Best Homeowners Insurance Companies in South Carolina

From the foothills of the Blue Ridge Mountains to 187 miles of scenic coastline, the Palmetto State is one pretty place to live. But factor in South Carolina’s proximity to the Atlantic Ocean and its history with hurricanes, and protecting your home won’t come cheap. The average homeowners insurance premium in South Carolina is $1,285. That’s almost $100 more a year than the national average of $1,173. The good news: There’s a slew of well-respected providers who can help make sure you’re covered.

How We Found the Best Homeowners Insurance Companies in South Carolina

We took the same approach as our review on nationwide homeowners insurance companies. First, we determined the 5 largest home insurance companies in South Carolina by market share. Then, we called each insurer’s customer service agents and completed a number of online quotes. We also researched their available discounts, coverage options, claims ratings, and financial fitness — comparing report cards handed down by reputable financial research companies like Standard & Poor’s, A.M. Best, and Moody’s.

The Five Best Homeowners Insurance Companies in South Carolina

South Carolina Homeowners Insurance Company Reviews

Allstate

Allstate is the gold standard when it comes to online customer experience and available discounts. Of all the companies we looked at, it was the only one to provide an upfront, in-depth analysis of potential risks by region via its Common and Costly Claims tool. Simply input your ZIP code and it’ll spit out the top five most common claims and perils in your area, making it easier to assess your coverage needs.

Allstate also offers a lot of discounts — 18 to be exact (the next closest contender is Liberty Mutual with 15). Among the more unique money saving features are a discount for new customers (10% off your premium for your first two years), one for the 55+ crowd, and an early shopper discount that could equate to an extra 10% off your premium if you sign up for a new Allstate policy before your current one expires.

When it comes to financial stability, Allstate is respectable — earning Aa3 from Moody’s, A+ from A.M. Best, and AA- from Standard & Poor’s — but the company does rank lower than its competitors in overall claims satisfaction. In Consumer Reports’ national homeowners insurance survey, it received a score of 80, which is still considered “very good,” but not quite on par with Nationwide’s leading score of 86. That means you may have to jump through more hoops when filing a claim, but the trade-off could be significantly lower rates.

Liberty Mutual

Liberty Mutual is a solid provider that offers quality coverage and consistent customer service. It earned the second highest Reader Score from Consumer Reports with top marks for timely claim payment and accurate estimates of damages. That said, it received lower marks for financial strength than its competitors. It scored an “excellent” rating from A.M. Best, while the other four companies received a “superior.” But it’s nothing to lose sleep over (especially given its high customer claims satisfaction).

As for discounts, it is second only to Allstate — there’s even a discount if you’re alumni of the University of South Carolina. And no matter how many questions we asked, its agents were always friendly and knowledgeable. The website is easy to navigate with helpful tools like a basic coverage calculator and state-specific resources, but one of the biggest perks of being a Liberty Mutual customer is access to its emergency home repairs service. On call 24 hours a day, 365 days a year, it provides peace of mind in case of an unexpected event.

Nationwide

Nationwide stands out for exceptional claims service. Consumer Reports awarded the company an impressive 86. So, why didn’t Nationwide shoot to the top of our list? Outside of the claims experience, it is, well, average. Except for a gated community discount, the money-saving offers were run of the mill. Its website is well-designed, but the FAQ section is meager (whereas, Allstate has entire articles and an animated video dedicated to niche topics like termite damage).

More than anything, we found it difficult to get a quote. On three separate occasions, we attempted to fill out the online form, but couldn’t get past the second or third page before being blocked and receiving a prompt to call an agent. Maybe it’s because we triggered one of their “red flags” outlined on the start page — Is your home registered as historic? Do you operate a farm or business out of the home? — but the process shouldn’t be that difficult. If you don’t mind working things out over the phone, our average wait time was about 20 minutes. You can also use the handy price comparison tool offered through the South Carolina Department of Insurance as a faster route. In any case, we pulled quotes and found that Nationwide’s premiums were consistently more expensive. But if you anticipate needing to file claims often, Nationwide’s exceptional customer reputation could make them a good, albeit pricier, fit.

State Farm

If there’s one thing we know for sure about State Farm, it’s that it’s not going under any time soon. In terms of financial fitness, it is the cream of the crop — Moody’s awarded it the second highest distinction (Aa1), meaning it is “of high quality and subject to very low credit risk.” The same goes for A.M. Best, with a score of A++, and Standard & Poor’s AA.

It fared well in other areas too and received an impressive score of 82 from Consumer Reports. Its website offers easy-to-understand guides and walks you through determining coverage needs and the difference between replacement cost and market value. Its agents were also quick to answer our calls and never pressured us into getting a quote. Their reliability and no-frills approach are likely why State Farm is the leader when it comes to South Carolina’s market share, underwriting 15% of all homeowners insurance policies sold in the state. Allstate, by comparison, accounts for 8%.

Travelers

Travelers and State Farm are similar in a lot of ways. While Travelers isn’t quite as strong financially, they tied in customer satisfaction ratings, both receiving an 82 from Consumer Reports, and offer the same number of endorsements and discounts.

Where Travelers sets itself apart is its website. Our favorite feature is its OpenHouse tool, which generates free home history reports — like Carfax, but for your house — and provides information on neighborhood trends, past repairs, and even how much the house sold for prior to you owning it. We appreciated the way it organizes information — the FAQ page is broken down into “Policy Basics,” “Premium & Discounts,” and “Coverage & Limits.” Travelers was also awarded “Best for Green Homes” in our nationwide homeowners insurance review, so if you have a LEED-certified home, be sure to get a quote and capitalize on its 5% discount.

Guide to South Carolina Homeowners Insurance Companies

Consider the impact location has on your premium

South Carolina isn’t a terribly large state (you can drive across it in roughly 3.5 hours), but there’s still a big difference between what you’ll pay in Spartanburg versus Charleston. Here’s how two different Nationwide policies compare across five counties.

Greenville
Richmond
Charleston
Spartanburg
Horry
$150,000 Home value
$543
$694
$2,223
$744
$481
$350,000 Home value
$1,073
$1,375
$5,006
$1,406
$901

*Quotes based on a 10-year-old masonry-style home with no claims in the past five years and a homeowner with good credit. Source: South Carolina Department of Insurance.

Even though Charleston and Myrtle Beach (located in Horry County) are both coastal cities, the premiums differ by thousands of dollars. There are a couple explanations for this: First, the average home price in Myrtle Beach is about 54% cheaper than properties in Charleston. Second, Charleston has a lot of historic homes which can cost more to replace due to building codes and hard-to-find materials.

Discounts vary by county too

Many of South Carolina’s counties have proactively taken steps to reduce flood risks beyond the minimum federal requirement, resulting in discounts for residents. According to FEMA, in places like Charleston County, where they have the highest preparedness rating in the state, it can mean an average of $5.1 million in area-wide savings, or $275 off each individual policy. In short, comparing discounts by county can lead to big savings.

Make sure you have flood insurance

Nationally, the number of homeowners purchasing flood insurance policies has declined. This is, in part, due to a price hike in premiums and maps of some high-risk areas being redrawn. According to The Post and Courier, “[In South Carolina] in 32 of 46 counties, fewer than 1% of all properties have flood insurance.” Consequently, more than 1.6 million households would not be covered in the event of a flood. The article goes on to quote South Carolina Department of Insurance Director, Ray Farmer, saying, “As far as I’m concerned, the entire state is in a flood zone, regardless of what the flood maps say.”

South Carolina Homeowners Insurance Companies FAQ

How much is homeowners insurance in South Carolina?

South Carolina’s average annual premiums for homeowners insurance are just above the national average — $1,285 per year for an HO-3 policy, compared to $1,173 nationwide. That said, how much you’ll pay can vary a lot depending on your home’s size, your assets, and your address. You can use our ZIP code tool at the top of the page to find your best rates.

How much does flood insurance cost?

According to FEMA, the average annual premium for flood insurance is about $878. Liberty Mutual, Allstate, and Travelers offer their own, while State Farm and Nationwide partner with the National Flood Insurance Program. And remember: Don’t wait until a storm is brewing — most policies won’t take effect for at least 15 days and many insurance companies stop selling flood insurance ahead of a hurricane making landfall.

Can I get grant money to flood-proof my home?

Yes. The South Carolina Safe Home Mitigation Grant Program offers up to $5,000 in grant money to individuals in coastal regions looking to strengthen their homes against storms. The response was so overwhelming that they filled all available slots in 2017. However, they are open again and the next available allocation is anticipated in July 2019.

The Best Homeowners Insurance Companies in South Carolina: Summed Up

Allstate
Liberty Mutual
Nationwide
State Farm
Travelers
A.M Best Financial Strength Rating
A+
A
A+
A++
A++
J.D. Power Overall Customer Satisfaction Score
822/1,000
797/1,000
809/1,000
825/1,000
788/1,000
Consumer Report's Reader Score
80/100
83/100
86/100
82/100
82/100