Charleston’s ownership rate is 62%, just below the national average of 66%. Charleston residents pay an average of $1,213 a year for a home with $250,000 coverage to live in the Holy City. This is below the national average of $1,312 annually. In Charleston, homeowner policies are under scrutiny due to flood-prone areas and a city hit by multiple hurricanes. Despite the challenges Mother Nature throws at this coastal gem, it’s still possible to find the best affordable homeowners insurance in Charleston.
Business Insurance analyzed multiple insurers based on customer service ratings, financial strength, average rates and discounts to find the best homeowners insurance option. As a result, there are many well-known domestic companies that can offer comprehensive coverage options and discounts.
best home insurance company in charleston
When choosing the best home insurance company in Charleston, it’s important to consider a variety of factors. In addition to the average annual premium provided by Quadrant Information Services, Business Insurance reviewed the JD Power 2020 Home Insurance Satisfaction Study, each provider’s assessment of financial strength, and specific coverage and discounts.
|home insurance company||Average Annual Liability Bonus $250,000||JD Energy Score|
|district farm||$1,099||829 / 1,000|
|Traveler||$1,157||803 / 1,000|
|statewide||$1,235||829 / 1,000|
|car owner||$1,249||843 / 1,000|
State Farm, the nation’s largest insurance company, is known not only for auto insurance, but also for property insurance. Whether you prefer a convenient online quote, work with our mobile app, or work with an agency, State Farm offers strong customer service in person or online. Although it didn’t score the highest on the JD Power Rankings, State Farm has only three complaints on the National Association of Insurance Commissioners’ (NAIC) Customer Complaint Index, well below the national average.
Travelers offers insurance for the typical homeowner. Accommodation, personal property, liability, and disability insurance. But where Travelers stands out is the many specialized coverage options available to policyholders. You can extend your coverage by adding special personal property coverage options. You can also insure your jewelry and valuables with high limits. If you need content replacement costs or additional replacement cost coverage, Travelers is available. You can also purchase a spare water cover and sump pump if needed.
Allstate is another insurance company that offers both basic and extended coverage options in their homeowner policies, such as identity theft recovery and lawn and yard coverage. Another area where Allstate excels is the number of generous premium discounts available. For example, if you bundle your insurance with car insurance, you can get up to 25% off. Or, if you don’t qualify and switch to Allstate from another provider, get up to 20% off.
Self-Owners consistently ranks as one of the most satisfied providers by both JD Power and online reviews. Besides being strong in this area, his A++ top rating for financial strength by AM Best is another indicator of the strength of this car’s owner. In addition to standard coverage options, policyholders have access to special coverage for high value items, additional structures, and water damage. We also offer several discounts to lower your premiums.
Other Home Insurance Options in Charleston
South Carolina does not require residents to have a homeowner policy. But proper insurance protects your finances and peace of mind at home. Homeowners insurance typically includes homeowners insurance, liability insurance, personal property protection, and medical insurance if someone is injured on your property. However, adding optional coverage can provide stronger protection and a more comprehensive policy. Charlestonians might consider adding:
- Flood insurance: Charleston is highly prone to flooding due to its high hurricane frequency as well as its location on the Atlantic coast. Flood insurance may be required in certain flood areas.
- Storm cover: Talk to your agent about how to protect yourself during a storm. Coastal areas are most at risk, causing billions of dollars in damage during hurricane seasons.
- Home sharing coverage: As one of the world’s most popular tourist destinations, you can rent your home and earn income to share with others. If you rent out your home through popular services like Airbnb, look for policies that cover property damage as a home owner.
- tornado: If you live in South Carolina, you can experience a tornado, as the state ranks 26th in the nation’s most tornado-prone states. Make sure your policy includes adequate coverage for repairs and reconstruction in the event of a tornado.
charleston home insurance discounts
Living in the South Carolina Lowcountry doesn’t mean you have to pay high homeowners insurance premiums. There are various homeowner discounts. If you want to save on insurance premiums, you should take advantage of all.
- grouping of guidelines : Combining homeowners insurance with the same carrier (or other insurance) that delivers your car can easily save you money. Almost all airlines offer this discount if you have multiple policies.
- Home security system: Paying for a home security system not only gives you extra security protection, but it also gives you a discount on your insurance premium.
- Automatic payment: You can save even more by choosing to automatically deduct your rewards from your account each month. Not only is this convenient, it also helps you save money all year long.
- Loyalty discount: how much The longer the contract period with the provider, the cheaper the premium. Many companies offer loyalty discounts, and if you continue to purchase your policy through that company, you can save yourself extra money each year.
Regardless of the discount you receive, please check with your distributor or customer service. The discounts above are just a few of the discounts available to homeowners. So you can save even more.
Frequently Asked Questions
Where is the best home insurance?
Finding the best home insurance is based on several factors that matter most to you. When reviewing, keep an eye on the provider’s customer service rating and rating, financial strength, fees and discounts, and digital assets. Business Insurance uses the same benchmark, Allstate and Auto-Owners found to be the best in South Carolina.
How much is home insurance in Charleston?
Charleston home insurance averages $1,213 annually for a home with $250,000 coverage, below the national average of $1,312. However, please note that rates are based on many personal factors such as age, gender, marital status, zip code, and credit history.
Business Insurance Uses Quadrant Information Services analyzes 2021 rates for all 50 states and all Washington DC zip codes and carriers. Rates shown are based on male and female homeowners in their 40s with good billing history, good credit history, and the following coverage limits:
- Cover A, Residence: $250,000
- Cover B, other structures: $25,000
- Cover C, private property: $125,000
- Cover D, disabled: $50,000
- Cover E, Liability: $300,000
- F Compensation, medical expenses: $1,000
Owners also have a $1,000 deductible and separate deductibles for wind and hail (if required).
These are sample rates and should only be used for comparison purposes. Your estimate will be different.