Homeowners in South Carolina need reliable insurance against harsh weather and other perils. Fortunately, there are some excellent insurance companies to consider. After comparing premiums for the companies with the largest market share in the state, policy offerings, and J.D. Power, BBB, and A.M.Best ratings, we’ve chosen Allstate as our top carrier for homeowners insurance in South Carolina. It comes at an affordable price without sacrificing customer service, and its app streamlines the user experience. We evaluated some additional carriers along with Allstate and included them below.
The 5 Best Homeowners Insurance Companies in South Carolina
|Allstate||Auto-Owners Insurance||Cincinnati Insurance||USAA||State Farm|
|Our review||Our review||Our review|
|AM Best Financial Strength Rating||A+||A++||A||A++||A++|
|J.D. Power 2019 Overall Customer Satisfaction Score||3/5||4/5||N/A||5/5||4/5|
|Online Quote Tool||✓||X||X||✓||✓|
Average Cost of Homeowners Insurance in South Carolina
The average cost of homeowners insurance in South Carolina is $1,264, which is slightly more than the national average of $1,211. Your insurance costs depend on many factors, such as the proximity of your home to flood plains or coastal areas. Insurers also evaluate standard elements such as home size and age, crime rates, your credit rating, and more.
Home Insurance Add-Ons That Will Further Protect You
In South Carolina, it’s important to add flood coverage to your policy. Flooding can be caused by many things, from a spring thaw to a hurricane. South Carolina is vulnerable to flooding, so protecting your home and belongings is a must. You should also consider windstorm or hurricane coverage. South Carolina has a long history of hurricanes and tornadoes. It’s imperative to protect yourself from risk of loss as well as the danger they present.
Helpful Resources for South Carolina Homeowners
The South Carolina Department of Insurance provides insurance advice in easily digestible articles or a more thorough brochure. While there, you can also look into the South Carolina Safe Home Mitigation Grant Program. If your home is on coastal property, these funds can help you with weatherproofing your home. The next/most recent grant cycle is the summer of 2020. You can sign up on the website to be notified when applications are open.
The U.S. Department of Housing and Urban Development website also has a variety of resources for South Carolina homeowners. It can walk you through every step, whether you’re just getting started or already maintaining a homestead.
To find the best companies in South Carolina, we started with the largest companies in the state by market share. We looked at their standings on financial analysis sites such as AM Best, S&P, and Moody’s. We also looked at their average annual premium and overall customer ratings from J.D. Power. We then researched their offerings and discounts to find the most affordable and reliable options for South Carolina homeowners.
We worked with Quadrant Information Services to present data on home insurance rates considering the company, state, and age of the home. Quadrant makes this information available using rate data that insurers are required to file with the state Department of Insurance. The rates are based on a sample profile created by Reviews.com for comparative purposes.
Best South Carolina Homeowners Insurance Companies
- Affordable premiums
- Convenient mobile app
- Some standard coverage isn’t included
Allstate offers the lowest South Carolina average annual premium on our list, making it an affordable option for homeowners. However, it’s important to remember that rates vary depending on your situation and needs.
Allstate also has a mobile app for its customers’ convenience. You can use it to get quotes, access resources, and more. The company’s coverage isn’t as comprehensive as what other homeowners insurance companies offer. For example, you’ll need to purchase extended coverage for items like jewelry.
- Several possible discounts
- Unique add-ons
- Few online capabilities
Auto-Owners Insurance is about average when it comes to costs in South Carolina, but it offers many ways for its customers to save. The carrier has multiple discounts to take advantage of, including a green discount and a protective devices discount. It also offers some unique coverage options with Homeowners Plus. This can include damage from appliance leaks and coverage for food spoilage during a power outage.
One downside customers may find is the lack of electronic filing. Auto-Owners Insurance requires you to contact an agent for quotes and filing claims.
Cincinnati Insurance Company
- Strong financial rating
- Option for flexible increased coverage
- Expensive coverage
- No online quotes or claims
Cincinnati Insurance Company has a strong financial rating backing it up, which is essential for customers. You want to be sure that your insurance company can handle claims of any size, making a strong financial rating vital.
Along with its standard homeowners policy, Cincinnati Insurance Company offers a homeowner plus endorsement. This allows customers flexibility in building a thorough policy that best suits their needs.
The company has the highest cost of the South Carolina annual average premiums on this list. Customers also have to work directly with an agent most of the time. The website doesn’t allow for online quotes or for filing claims electronically.
- Superior customer ratings
- Affordable rates
- Only available to the military community
USAA is only available to customers who are active members of the military, veterans, and their families. For South Carolina homeowners who can take advantage of USAA, however, there’s a lot of value.
USAA has one of the highest overall customer satisfaction ratings from J.D. Power. It also has some of the most affordable rates in South Carolina, with several possible discounts to deepen your savings, such as discounts for bundling and for zero claims.
- Strong ratings
- Good coverage
- Fewer possible discounts
State Farm is a well-known insurance company with a long history and a good reputation. It has a superior financial rating and a strong customer satisfaction rating from the 2019 J.D. Power Home Insurance Study.
Unfortunately, it doesn’t offer its customers many discounts. While it does have some that customers can apply for, there are fewer options than what other South Carolina insurance companies provide.
The Cheapest Homeowners Insurance Companies in South Carolina
|Largest Companies by Market Share in South Carolina||Average Annual Premium|
|Lighthouse Property Insurance||$372|
|First Community Insurance||$726|
|Homeowners of America||$908|
|Universal North America||$1,530|
|South Carolina Farm Bureau||$2,844|
Cost of Homeowners Insurance by Age of Home
|Age of Home (years)||Sample Annual Premium|
|Average Across Ages||$1,683|
Top 3 Cheapest Homeowners Insurance Companies in South Carolina
- Lighthouse Property Insurance Corporation – $372
- Allstate – $419
- First Community Insurance Company – $726
Top 3 Most Expensive Homeowners Insurance Companies in South Carolina
- South Carolina Farm Bureau Mutual Insurance Company – $2,844
- Cincinnati Insurance Company – $1,913
- Encompass – $1,741
The cheapest homeowners insurance companies in South Carolina are Lighthouse Property Insurance Corporation, Allstate, and First Community Insurance Company. The most expensive homeowners insurance companies are South Carolina Farm Bureau Mutual Insurance Company, Cincinnati Insurance Company, and Encompass.
The average annual premiums for each company are based on general profiles. To find the coverage you need with the best value, contact individual companies for personalized quotes.
Homeowners Insurance FAQ
Is homeowners insurance required in South Carolina?
The state doesn’t require that you have homeowners insurance but if you have a mortgage, your lender may require you to purchase it. With that said, even without a mortgage, you should still consider homeowners insurance to protect your belongings.
What is the cheapest homeowners insurance in South Carolina?
Your policy price varies based on factors like the size and location of your house, your credit score, and your assets. Based on the average annual premiums we examined, Lighthouse Property Insurance Corporation offers the cheapest homeowners insurance in South Carolina.