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South Carolina Home Insurance

As a homeowner, you know how expensive it can be to purchase South Carolina home insurance, especially if you live along the coast.  The best way to keep South Carolina homeowners insurance under control is to learn the many things you can do to help keep your home insurance quotes under control, then shop and compare rates between insurance companies.

Rising South Carolina Home Insurance Rates

Homeowners insurance rates have risen sharply over the past few years in South Carolina and these increases are forecast to continue.  One of the primary reasons is the increased cost of construction, labor and materials within the state.  The population of South Carolina has also continued to grow, which means that the risk for loss is greater now in each zip code due to a higher concentration of homes.  While homeowners are always pleased that their residences have appreciated when it comes time to sell, the increased value of those homes has also driven the cost of home insurance in South Carolina higher as well.

Factors Affecting South Carolina Home Insurance Quotes

When you apply for a home insurance quote in South Carolina, each insurance company will originally look at the same information, including:
  • Age and value of the home
  • Property maintenance – if repairs are needed, do you make them promptly? 
  • Credit history – Individuals with a good credit history statistically are much more reliable to pay their premiums in full on time.
  • Previous claims on the property and the reason for those claims – was each claim the result of an act of God or due to negligence?
  • Amount of insurance coverage requested – you must insure your home to at least 80% of its full value to have your losses paid in full.  If you underinsure your property, you might not have the coverage you need in time of emergency.

Saving Money on South Carolina Homeowners Insurance

Fortunately there are both general and specific ways to save money on the cost of home insurance rates in South Carolina.  The most common ideas, such as increasing the amount of your deductible and combining your home insurance and auto insurance with the same company, will of course assist in this area.  But given South Carolina’s risk for damage due to hurricanes and tropical storms, there are many improvements you can make which will not only keep your home safer during those “Act of God” events, they’ll lower your home insurance rates as well.

Discounts are available for homes which have features such as hurricane shutters over each window and entry way, as well as reinforced garage doors.  Replacing plain windows with wind and impact resistant glass can also lower your rates.

One of the best things you can do is strengthen the connection between the walls and roof of your home.  This can only be done when you are originally building or replacing the roof, but it makes a significant difference in the security of your home during a storm.  If you have the opportunity, incorporate these changes into your home’s first level of defense – the roof.

  • Use hurricane straps and clips to further secure the rafters and trusses to the foundation.
  • Add self-adhering flashing tape on top of the joints to create an additional water barrier in case the roof is damaged or destroyed
  • Select roofing materials that meet the latest standards for wind and hail resistance, which are capable of taking a much tougher beating during bad weather.  Make sure to even check the boxes the materials come in to ensure you are using the right products, since they look the same as standard roofing materials.
  • Closely watch as the shingles are positioned on your new roof to ensure that each is properly attached, which further strengthens the final result.

New South Carolina Home Insurance Laws

A new law covering non-renewal of South Carolina home insurance went into effect in June, 2007 giving homeowners more notice in case their present insurance company decides not to renew their policy.  South Carolina home insurance providers must now give a 60-day notice if the policy expires between November 1 – May 31, and 90-day notice for expirations from June 1 – October 31.

South Carolina home insurance companies may choose not to renew for any reason, but they must tell you that reason when notifying you of their decision.  The only loophole is if your only claims have been filed due to Acts of God, in which case you cannot be denied due to the claim history of the property.

Policies may be cancelled at any time within the first 120 days for any reason.  They may also be cancelled for non-payment with only a 10 day notice.

Compare South Carolina Home Insurance Rates

Now that you know how insurance rates are determined and the many things you can do to lower them, its time to shop and compare companies.  Fortunately Insurance-Rates-Online makes this the easiest step of all!  Just enter your zip code and you will instantly be given a list of insurance providers offering home insurance coverage in your area.  Request a free quote from the three or four providers that appeal to you most.  Before you know it, you’ll have the coverage you need at the best possible price.  What are you waiting for?  Enter your zip code now!

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