Insurance
South Carolina Home Insurance Calculator: Free Cost Estimator (2024)
Updated: May 22, 2024
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Rates updated:
Jul 26, 2024
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MoneyGeek collected and analyzed thousands of quotes from different companies to help you get the cheapest homeowners insurance in South Carolina. We found that Allstate offers the most affordable policy in the state.
We also rounded up the best homeowners insurance companies in South Carolina for those who want a balance of affordability and quality service.
How to Estimate the Cost of Your Homeowners Insurance Policy in South Carolina
How much you’ll pay for homeowners insurance in South Carolina depends on your needs and profile. Keep in mind that your location, credit score and property value factor into your insurance costs.
Use MoneyGeek’s South Carolina homeowners insurance calculator to get an estimate of your insurance costs — enter your specific information in our tool below.
South Carolina
Your South Carolina homeowners insurance costs may be influenced by where you live. Policyholders living in an area with a higher risk of natural disasters, fires or theft tend to have a more expensive premium than those who live in a neighborhood with fewer potential risks.
Dwelling Coverage
Dwelling coverage pays for your home’s replacement/repair cost. In South Carolina, the baseline dwelling coverage is $250,000. However, you may get more or less coverage depending on your home.
Keep in mind that your home’s age, shape, size and other features all factor into its total replacement value. Your insurer or a professional home appraiser can help you determine how much dwelling coverage you need.
Deductible
A home insurance deductible is the amount you’re responsible for covering before your insurance provider pays a claim.
For example, your deductible is $1,000 and you have an insurance claim of $10,000. You have to pay $1,000 before your insurer covers the rest.
When choosing a deductible, a higher amount can lower the cost of your premium.
Liability
If someone sustains an injury in your home or their property gets destroyed due to your negligence, your liability coverage will shoulder the cost of those damages. It covers legal, replacement, medical, pain and suffering and death benefits expenses.
It’s crucial to have enough liability coverage to protect your assets.
Personal Property
Everything you keep in your home, from your clothing to your furniture, is protected under personal property coverage. It typically covers the cost of replacing your items if they are damaged or stolen.
Below, MoneyGeek’s personal property calculator can help you estimate how much personal property coverage you need.
Credit Score
Insurance companies consider your credit history when calculating your home insurance premium. They tend to charge a higher premium to homeowners with poor credit because they may fail to pay their bill on time or have more claims.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in South Carolina
South Carolina ranks as the fourth most expensive state for a homeowners insurance policy with $250,000 dwelling coverage. Homeowners in the state can expect to pay around $4,315 per year for a policy with that coverage amount.
Review the table below to see how the average rate in South Carolina changes based on a higher or lower coverage amount.
Average Annual Premium in South Carolina for Homeowners Insurance
| $100,000 | Average Annual Premium$2,698 |
| $250,000 | Average Annual Premium$4,315 |
| $500,000 | Average Annual Premium$8,502 |
| $750,000 | Average Annual Premium$13,346 |
| $1,000,000 | Average Annual Premium$20,175 |
| $2,000,000 | Average Annual Premium$52,607 |
| $3,000,000 | Average Annual Premium$87,272 |
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It’s important to know how much dwelling coverage you need when buying homeowners insurance. MoneyGeek recommends purchasing enough coverage to pay for the amount you need to rebuild your home.
Note that your home’s age, size, shape and features will impact your home’s replacement cost. Your insurance provider can help in calculating your rebuilding costs, but you can also get a professional home appraiser if you want an independent assessment.
Make sure that your home replacement value is accurate to avoid additional expenses. If not, adding inflation guard coverage or extended replacement coverage to your policy can help.
Average Cost of Home Insurance in South Carolina Cities
Where you live in South Carolina can have an impact on your homeowners insurance costs. You can review the average annual premium of various cities in the state in the table below.
Average Annual Premium in South Carolina Cities for Homeowners Insurance
| Charleston | Average Annual Premium ($100K Dwelling Coverage)$2,120 | Average Annual Premium ($250K Dwelling Coverage)$4,052 |
| Columbia | Average Annual Premium ($100K Dwelling Coverage)$2,564 | Average Annual Premium ($250K Dwelling Coverage)$4,245 |
| Myrtle Beach | Average Annual Premium ($100K Dwelling Coverage)$3,824 | Average Annual Premium ($250K Dwelling Coverage)$6,764 |
| Sumter | Average Annual Premium ($100K Dwelling Coverage)$3,131 | Average Annual Premium ($250K Dwelling Coverage)$5,160 |
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It’s crucial to choose an insurer that offers the best blend of affordability and customer service. Overall, Allstate is the best homeowners insurance company. MoneyGeek scored providers based on their pricing, customer satisfaction and financial stability.
Frequently Asked Questions About Home Insurance in South Carolina
Your particular needs and buyer profile have a significant influence on your South Carolina homeowners insurance costs. MoneyGeek answers some frequently asked questions to help you understand the topic better.
How much does homeowners insurance cost in South Carolina?
South Carolina is the fourth most expensive state for a $250K coverage homeowners insurance policy. Homeowners in this state pay an average of $4,315 per year for a policy.
How do I know how much dwelling coverage to get?
In South Carolina, the average dwelling coverage is $250,000. How much coverage you need will depend on your home’s age, size, shape and features. You may ask your insurance provider or a professional home appraiser for assistance in getting an accurate estimate.
Insurance
Methodology
To determine the average cost of homeowners insurance in South Carolina, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.