South Carolina homeowners pay an average of $2,467 annually for a policy with a $1,000 deductible and $300,000 of dwelling coverage — slightly lower than the national average of $2,532.

A homeowners insurance policy can protect South Carolina property owners from tropical storm damage. The state has an 80% chance of tropical storms every year, according to the South Carolina Department of Natural Resources.1 Residents on the coast may also want to consider a flood insurance add-on to help protect their homes from coastal flooding, storm surges, and water damage.

Here’s what you should know about comparing home insurance quotes and finding coverage in the Palmetto State.

Best home insurance companies in South Carolina

Many top insurance companies offer homeowners policies in South Carolina, with some providing cheaper coverage than others. Comparing coverage options can help you find the best home insurance company to suit your situation and needs.

Cheapest rates: Cincinnati Insurance

Best insurer for flood insurance: Chubb

Best insurer for high coverage limits: Allstate

Best insurer for discounts: State Farm

Cheapest home insurance in South Carolina

Chubb offers the cheapest home insurance in South Carolina, with policyholders paying average monthly premiums of $123 for $300,000 worth of dwelling coverage.

Here are some of the cheapest homeowners insurance companies in South Carolina.

Cost of homeowners insurance in South Carolina

The average cost of home insurance in South Carolina is $2,467 for a policy with a $1,000 deductible and $300,000 in dwelling coverage, but several factors can affect your premiums.

If you purchase a flood insurance add-on, for example, your premiums may increase — but not necessarily. Certain home insurance companies offer cheaper policies than others, so it’s essential to shop around to find affordable coverage that meets your needs.

Other factors that influence your homeowners insurance costs include your chosen deductible, location, age and condition of your home, types of coverage you need, and more.3

Cost of homeowners insurance by dwelling coverage amount

Increasing the amount of dwelling coverage on your policy will also result in higher annual premiums. You’ll pay about $3,400 more per year if you choose $500,000 in dwelling coverage versus $100,000, for example.

The table below shows how average monthly homeowners insurance premiums change based on coverage limits in South Carolina.

Cost of homeowners insurance by deductible

Your home insurance rates will also vary based on your deductible. Your deductible is the amount you pay out of pocket before your homeowners coverage kicks in.

It’s common to see deductibles of $500 or $1,000, so if you file a claim after an incident, you’d need to pay that out of pocket before your insurance company covers any costs. Choosing a higher deductible typically results in lower annual premiums.

How to get cheap homeowners insurance in South Carolina

If you’re searching for affordable insurance in South Carolina, you can take several steps to help lower your premiums. Comparison shopping for an affordable policy is important, but here are some other common savings strategies:

• Increase your deductible. Increasing your deductible is one simple way to help lower your homeowners insurance premiums, sometimes by a fairly significant amount. Before you do this, consider your risk tolerance and whether you can afford to pay a higher deductible out of pocket in case an incident occurs.

• Bundle your policies. If you need a homeowners policy and another insurance product — like life or auto insurance — consider buying them from the same company to save on both policies with a bundling discount.

• Ask about discounts. Besides a bundling discount, ask your insurer about other applicable discounts. Common homeowners insurance discounts include paid-in-full, claims-free, and customer loyalty discounts.

• Make strategic home improvements. Certain home improvements may also help you get cheaper coverage. For instance, reinforcing your home against property damage with storm shutters or a metal roof could make your policy more affordable. Other home improvements — like upgraded plumbing, HVAC, and more — may also reduce your insurance costs.

How much homeowners insurance do you need in South Carolina?

Generally, you’ll want enough homeowners insurance coverage to repair or replace your home and personal property after a claim. And if you have a mortgage, your lender will require you to purchase a home insurance policy. But the amount of coverage you need depends on your individual preferences, risk level, and more. If you live on the beach, for example, you might buy additional coverage in case of issues like coastal floods and storm surges.

Before you purchase a home insurance policy, it’s essential to read the fine print to determine what the policy covers and what it doesn’t. This will help ensure your coverage aligns with your needs and preferences.

What are some of the biggest risks when owning a home in South Carolina?

While risks to your home vary depending on where you live in the country, your home and personal belongings are at risk no matter where you live, and South Carolina is no exception.

Here are three of the most common perils homeowners face in the Palmetto State.