Charleston’s homeownership rate is 62%. This is slightly lower than the 66% national average. Charlestonians pay $1,213 annually for a house with $250,000 coverage. This is lower than the average of $13,312 per annum. Charleston is prone to flooding, and homeowner policies should be carefully considered. It is possible to get the best homeowners insurance for Charleston, despite the many challenges Mother Nature presents.
Bankrate compared several carriers on the basis of customer service ratings, financial strength and average rates to help you choose the right homeowner insurance options. There are many well-known national carriers who can provide full coverage and discounts for you.
Charleston’s best home insurance companies
It is important to consider many factors when choosing the best Charleston home insurance company. Bankrate also reviewed the J.D. Power 2020 Home Insurance Satisfaction Study, which examines the financial strength of each carrier as well as special coverages and discounts.
State Farm is the largest provider of insurance across the country. They are well-known for their auto and homeowners policies. State Farm provides excellent customer service online and in person. State Farm scored well in the JD Power rankings. However, it has only three complaints against the National Association of Insurance Commissioners customer complaint Index, which is significantly lower than the national average.
Travelers provides the standard homeowners policy coverages: dwelling, personal property and liability, as well as loss of use. Travelers is unique because of the variety of specialty coverage options that are available to policyholders. Add a personal property option to your policy that will expand your coverage. You can also cover jewelry and other high-value items with higher limits. Travelers offers coverage for content replacements or additional replacement costs. If you require it, you can also purchase water backup or sump pump coverage.
Allstate is another carrier that offers both the basic and expanded coverage options for homeowners policies. This includes identity theft restoration as well as coverage for your lawn. Allstate is also known for its generous premium discounts. If you combine your auto and policy, you can get a 25% off. You can also get up to 20% off if you have no claims and you switch from another carrier.
JD Power and online reviews consistently rank Auto-Owners as one of the best providers for customer satisfaction. Not only is a strong in this area, but the lower your premium.
There are other Charleston home insurance options
South Carolina residents are not required to have a homeowners insurance policy. Proper coverage will protect your home and your finances. Most homeowners policies include coverage for dwelling, liability, personal property protection, and medical coverage in the event that someone is injured on your property. You may be able to add optional coverages that will provide greater protection and make your policy more comprehensive. Charlestonians might want to add:
- Flood insurance Charleston is extremely vulnerable to flooding. This is due to its location on the Atlantic Coast and the greater occurrence of hurricanes. Flood insurance may be necessary in your flood zone.
- Storm surge coverage: Discuss with your agent how you can be protected in the case of a severe storm surge. The most vulnerable areas are the coastal ones, and hurricane season can cause billions of dollars in damage.
- Home sharing coverage: You may rent your home to earn income or for others to enjoy. Look for homeowner policies that cover property damage if you rent out your home through services like Airbnb.
- Tornadoes: You could be affected by tornadoes if you live in South Carolina. The state is 26th in the nation for the most severe tornadoes. If you are hit by a tornado, make sure that your policy provides adequate coverage.
Charleston home insurance discount
Low-cost living does not necessarily mean that you will have to pay high homeowner’s insurance rates. If you are looking to reduce your premiums, there are many discounts that homeowners can take advantage of.
- Bundling your policy: You can save money by combining your homeowners policy and the same carrier that provides your auto policy (or any other policy). This discount is offered by almost all carriers if you have more than one policy.
- Home security system: You can get discounts on your premiums if you purchase a home security package.
- You can save additional money by opting to have your premiums automatically deducted from your account each month. This is a convenient option for you and it can help you save over the course of the year.
- Loyalty discount: Your premiums may drop if you remain with the carrier for a longer time. You can save money every year by purchasing your policy through a loyalty discount provider.
Whatever discounts you may end up getting, make sure to discuss them with your agent and customer service. These discounts are just a small fraction of what homeowners can get, so you might be able to save even more.
Questions frequently asked
Which is the best company for home insurance?
The best home insurance company will be chosen based on the factors you are most concerned about. When evaluating a company’s home insurance, make sure you look at their customer service ratings, reviews, financial strength and rates as well as digital assets. These benchmarks were used by Bankrate to find Allstate and Auto-Owners to rank among the top in South Carolina.
What is the cost of Charleston home insurance?
Homeowners Insurance Charleston is $1,213 annually for a home with $250,000 of dwelling coverage. This is lower than the national average $1,312. Keep in mind that rates are determined by many factors including your age, gender and zip code.