besthome insuranceCharlestonThe Best Cheap Homeowners Insurance in Charleston, South Carolina for 2024: Quotes and Reviews
Compare Rates
Ensure you're getting the best rate. Review quotes from a top insurance company.
besthome insuranceCharlestonThe Cheapest and Best Homeowners Insurance in Charleston
Cheapest homeowners insurance in Charleston - Allstate
Best homeowners insurance in Charleston - Allstate
The Cheapest Home Insurance Companies in Charleston
At their core, all home insurance policies protect you against the same damages, such as those to your house as well as your personal belongings. Because of this, how much the home insurance policy costs in Charleston is an aspect to consider when deciding which provider to get.
For a home with a dwelling coverage limit of $500,000, the companies that offer the cheapest home insurance policies in Charleston on average are:
- Allstate: $1,350 each year
- State Farm: $2,116 each year
More expensive homes have higher dwelling coverage limits. On average, for homes that have a dwelling coverage limit of $2 million, the cheapest home insurance in Charleston are offered by:
- Allstate: $5,001 each year
- State Farm: $7,471 each year
You can use the table below to see how adjusting the dwelling coverage impacts the policy price.
The Cheapest Home Insurance in Charleston, Ranked
Dwelling Coverage:
$500,000
Scroll for more
Compare Home Insurance Rates
Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
A higher dwelling coverage limit means an increased personal property limit as well. In Charleston, a policy with the baseline dwelling of $500,000 has a personal property coverage limit of $200,000. The coverage limit for personal property reaches $800,000 when the dwelling coverage limit increases to $2 million. Liability coverage, however, is not affected. It remains at $100,000 for all policies.
Living outside of Charleston shouldn’t stop you from comparing home insurance quotes in South Carolina.
The Average Cost of Homeowners Insurance in Charleston for 2021
Charleston$6,471
SC$3,377
U.S.$2,103
The average cost of homeowners insurance in Charleston is higher than both the state and the national average. In the United States, homeowners pay an average yearly premium of $2,103 for home insurance. The average price of home insurance in South Carolina is higher, costing $3,377 per year. Compared to that, the average cost of home insurance in Charleston is even more expensive. Homeowners pay $6,471 each year.
Calculate the Cost of Home Insurance in Charleston
The fact that hurricanes, earthquakes and tornadoes are common weather disasters in South Carolina already affects how much your home insurance costs. Your zip code within Charleston further influences the price. That said, there are other factors considered when calculating your policy. These include coverage limits for your home and personal property, your credit score and how much your deductible is.
You can gather and compare quotes in South Carolina using MoneyGeek’s home insurance calculator.
Home Insurance Calculator
State
South Carolina
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Charleston
Although price is a factor to consider when deciding which policy to purchase, you’ll want to find an insurer that provides excellent service since filing a claim is usually a stressful situation. Financial strength is also a consideration because you’ll want an insurer who can fulfill their obligations.
Using its unique scoring system, MoneyGeek evaluated several providers in Charleston and found the best home insurance companies to be:
- Best Overall: Allstate
- Runner-up: State Farm
MoneyGeek used financial strength, customer service and affordability to evaluate the home insurance companies in Charleston.
1
Allstate
Score:93
Allstate rewards homeowners who managed to remain claim-free. Discounts are offered, even if they used a different insurer in the past. Standard policies don’t cover damage caused by floods, but it might be a good idea for homeowners in Charleston. Allstate makes this easy by assisting you in purchasing a flood policy through the National Flood Insurance Program (NFIP).
More About Allstate
The top spot goes to Allstate, with a perfect score in affordability. You can reduce the amount you pay out of pocket when making a claim by remaining claim-free. Allstate decreases your deductible by $100 for every year that you don’t file a claim.
2
State Farm
Score:93
State Farm provides a variety of coverages not all home insurance companies in Charleston offer. They have service line coverage, which helps with expenses when repairing or replacing underground electrical, water or data lines that belong to you. If you have home systems for heating, cooling or electrical generation, these can be covered by adding home systems protection to your policy.
More About State Farm
With a perfect score in financial strength, State Farm comes in second place. For homeowners who have a lot of personal property with high value, such as jewelry and business properties, State Farm makes it easy to increase coverage limits.
3
USAA
Score:92
4
Nationwide
Score:87
5
Auto-Owners
Score:82
6
ASI
Score:81
7
Universal North America
Score:80
8
Chubb
Score:80
9
Heritage
Score:80
10
Travelers
Score:73
Cheapest Home Insurance Companies in Charleston for Newly Constructed Homes
The age of your home is another factor considered by insurers when computing home insurance rates. Newly constructed homes use damage-resistant materials, making it less likely for homeowners to file claims. If they do need replacing, newer materials are also cheaper to buy.
A house built in 2000 in Charleston has a yearly premium of roughly $6,471, while one constructed in 2015 costs an average of $5,297.
For newly built homes with dwelling coverage limits of $500,000, the companies that offer cheap home insurance in Charleston on average are:
- Allstate: $883 each year
- State Farm: $1,586 each year
The Cheapest Home Insurance in Charleston for New Homes, Ranked
Scroll for more
Cheapest Home Insurance Companies in Charleston if You Have a Lot of Personal Property
Home insurance protects you not only against damages to your home but even against costs from loss of or damage to your personal property. In Charleston, a policy with a $200,000 personal property coverage limit costs $6,471 per year on average. You can always increase your coverage limit if you own high-value items such as art or jewelry, but this also changes your premium. You’ll have to pay an average of $7,136 per year for a policy with a personal property coverage limit of $250,000.
For policies with personal property coverage limits of $250,000, on average, the companies with cheap home insurance in Charleston are:
- Allstate: $1,378 each year
- State Farm: $2,180 each year
Cheap Companies in Charleston for Extra Personal Property Coverage
Scroll for more
Cheapest Home Insurance Companies in Charleston for High Deductibles
Getting a policy with a higher deductible is one way to decrease your home insurance premium. A policy with a $1,000 deductible comes to $6,471 per year or $539 per month, on average. In comparison, a policy with a $2,000 deductible is cheaper, costing you roughly $5,836 per year. With a higher deductible, you’ll pay more out of pocket when filing a claim, but you’ll also pay less for your policy every year.
The home insurance companies in Charleston that offer the cheapest policies with a $2,000 deductible are, on average:
- Allstate: $1,157 per year
- State Farm: $1,899 per year
The Cheapest Companies in Charleston for High Deductibles, Ranked
Scroll for more
Cheapest Home Insurance Companies in Charleston if You Have Poor Credit
Unlike some cities, your credit score is factored in when companies calculate for home insurance quotes in Charleston. Since insurers have found that homeowners who have good credit scores are less likely to file a claim, policies are less expensive.
For example, homeowners with good credit standing pay roughly $6,471 each year for home insurance. In comparison, a poor credit score will increase your yearly premium to $8,575 on average.
On average, for homeowners with poor credit, home insurance companies in Charleston with more affordable policies are:
- Allstate: $3,168 each year
- Universal North America: $3,733 each year
The Cheapest Companies in Charleston for Poor Credit, Ranked
Scroll for more
Getting Online Homeowners Insurance Quotes in Charleston
Getting and comparing quotes is the best way to ensure you get the best deal possible. Most insurers will send you quotes online. All you need is the following information:
- Cost of Home Replacement – Should your home need to be rebuilt, how much would it cost? This is best evaluated by a building contractor or a construction professional. It’s crucial to get an accurate assessment since it determines your dwelling coverage limit.
- Cost of Personal Property – Homeowners usually underestimate the value of their belongings, leading to more stress when making claims. Keeping an inventory of your personal possessions, along with their corresponding value, helps you determine the right amount for your personal property coverage limit.
- Personal Information – Most insurers ask for your exact address since they consider crime rates and other factors that expose you to risk. Some even ask for the number of people living in your home as well as your insurance history.
- Home Details – The age of your home and the materials used to build it play a part in calculating home insurance quotes in Charleston. Make sure you indicate whether or not you have security systems installed in your home, as this may affect the policy price.
Compare Home Insurance Rates
Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
Homeowners Insurance in Charleston Analysis: Methodology
To provide the amount of information regarding home insurance quotes in Charleston, MoneyGeek analyzed policies from ten insurers, using data provided in partnership with Quadrant. Quotes were gathered for a home with different coverage levels determined affordability, while survey results from J.D. Power dictated scores for customer service.
The baseline profile of a homeowner in Charleston is having a 2,500 square foot home built in 2000 with a dwelling coverage limit of half a million, a personal property coverage limit of $200,000, a deductible of $1,000 and liability coverage amounting to $100,000. Comparisons were based on quotes for newly constructed homes, higher coverage limits for dwelling and personal property, increased deductibles and poor credit standing.
About Mark Fitzpatrick
sources
- Neighborhood Scout. "Charleston, SC Crime Rate." Accessed May 1, 2021.
- Neighborhood Scout. "Charleston, SC Real Estate Appreciation and Housing Market Trends." Accessed May 1, 2021.
- USA.com. "Charleston, SC Natural Disasters and Weather Extremes." Accessed May 1, 2021.
- Joye Law Firm. "https://www.joyelawfirm.com/2016/12/how-to-best-prepare-for-natural-disasters-in-south-carolina/." Accessed May 1, 2021.
- US News. "State Farm Homeowners Insurance Review and Quotes." Accessed May 2, 2021.