When shopping for the cheapest home insurance policy in Myrtle Beach, assess the insurer's average annual rate and compare it to other providers to make sure you're getting the best deal.

These insurance companies in Myrtle Beach offer the cheapest rates for home insurance with $250,000 in dwelling coverage:

• Universal North America: $873 per year
• Allstate: $965 per year

For homeowners with expensive dwellings in Myrtle Beach, these insurers provide the cheapest policies with $2 million in dwelling coverage:

• Allstate: $6,391 per year
• Universal North America: $6,998 per year

You can adjust the dwelling coverage amounts in the table below to see how your rate changes.

All plans with basic baseline dwelling coverage of $250,000 have $100,000 personal property coverage caps, and policies with $2 million in dwelling coverage have $800,000 personal property coverage limits. All policies include $100,000 in liability insurance.

Homeowners in other South Carolina cities can refer to the MoneyGeek guide on home insurance in South Carolina.

The average cost of homeowners insurance in Myrtle Beach is $3,556 annually, whereas the national average is $2,103 and the state average is $3,377. This means Myrtle Beach's insurance premiums are higher than the national average.

Insurance companies consider various items when calculating your home insurance premium, such as your desired coverage level, credit score and your home’s location. Insurers want to know whether your home is in a high-risk area exposed to environmental hazards, theft, vandalism or other issues.

You can compare Myrtle Beach home insurance rates with MoneyGeek's home insurance calculator. Modify the calculator to see how your rates vary based on your dwelling’s location.

When shopping for home insurance, many homeowners consider cost to be the primary decision-making factor. However, other important points to examine include the provider's customer service ratings, financial stability, claim ratings and response time.

The top two best home insurance companies in Myrtle Beach are:

• Auto-Owners Insurance Co
• State Farm

MoneyGeek evaluated the best home insurance carriers in Myrtle Beach based on a variety of factors such as J.D. Power customer satisfaction ratings, affordability and financial stability.

When compared to older homes, newly built homes are less costly to insure. This is because modern materials are more resistant to damage and easily replaced if damaged.

A newly built home costs an average of $2,910 to insure, whereas a home built in 2000 costs an average of $3,556 to insure in Myrtle Beach.

MoneyGeek found the following insurers offer the cheapest policies in Myrtle Beach for newly built homes with $250,000 in dwelling coverage:

• Allstate: $631 per year
• Universal North America: $715 per year

Damage to personal property in your home is also covered by home insurance, although those with more personal belongings to insure will pay higher rates. Insurance in Myrtle Beach costs $3,921 for personal property limits of $250,000, compared to an average of $3,556 for personal property coverage limits of $100,000.

The following providers offer the cheapest insurance for homeowners with high personal property limits:

• Universal North America: $963 per year
• Allstate: $985 per year

Your deductible has a big impact on the cost of your home insurance. Your home insurance will cost less if you have a higher deductible, but if you file a home insurance claim, you will pay more money out of pocket. 

The affordable home insurance companies for high deductibles are:

• Universal North America: $787 per year
• Allstate: $827 per year

Your credit score is used by Myrtle Beach insurance companies to calculate home insurance rates. If you have bad credit, home insurance will cost you an average of $4,593 in Myrtle Beach.

The top cheapest home insurance companies in Myrtle Beach for homeowners with bad credit are:

• Universal North America: $1,363 per year
• Auto-Owners Insurance Co: $1,439 per year

Insurers in Myrtle Beach will ask you a variety of comprehensive questions while you're shopping for home insurance coverage. Insurance companies will use this information to provide you with precise and personalized quotes. Some questions to expect are:

• The replacement cost of your home: What is the total cost of rebuilding your home? A contractor or real estate agent can provide you with a quote.
• The value of your personal property: Your personal property’s value will determine the coverage amount you need.
• Personal information: Personal information may include your age, contact info, marital status, employment status and credit history.
• Information about your house: Home insurance companies will need to know the year your home was built, the type and condition of the roof, the layout of the home, the exterior finish and whether or not you have a garage, among other factors.

Our Research Approach

Myrtle Beach homeowners face a tough insurance market. We designed this analysis to show you exactly which companies offer affordable coverage without sacrificing the financial protection your coastal property needs.

We partnered with Quadrant Information Services to review rates from ten leading insurance providers in Myrtle Beach, gathering quotes across multiple homeowner profiles because a newly built beach house faces completely different premiums than a 25-year-old home three blocks inland.

Our baseline home profile included:

• 2,500-square-foot home built in 2000
• $250,000 dwelling coverage, $100,000 personal property, $100,000 liability
• $1,000 deductible
• Good credit score

From this foundation, we tested variables that dramatically affect what Myrtle Beach homeowners actually pay. Credit score emerged as a major cost factor.

To rank the best overall companies, we weighted multiple factors beyond just price. We gathered J.D. Power customer satisfaction ratings to assess claims handling quality when storm damage occurs, examined financial stability ratings to ensure insurers can pay major hurricane claims, and evaluated affordability across different homeowner profiles.

Every rate reflects what Myrtle Beach homeowners actually pay based on their specific property characteristics and personal factors.