Cheapest Homeowners Insurance in South Carolina (2024 Rates)

When it comes to home insurance options in South Carolina, Chubb stands out as the top choice for affordability across several categories. Whether you have a claims history, a new construction home or less-than-perfect credit, Chubb offers competitive rates. However, if you're looking to insure a high-value home or for affordable bundles, State Farm is likely the cheapest provider.

South Carolina's most budget-friendly home insurance provider is Chubb, with premiums averaging $583 annually for $100K in dwelling coverage. Note that the rates depend on your dwelling coverage, so check the best deals for each tier.

Below are the cheapest providers for varying dwelling coverage limits in South Carolina:

• Cheapest for $100,000: Chubb at $583 per year
• Cheapest for $250,000: Chubb at $1,645 per year
• Cheapest for $500,000: State Farm at $2,973 per year

Find cheap homeowners insurance using MoneyGeek's table below and see how rates can vary by provider and dwelling coverage limits.

In South Carolina, getting quotes from different insurance providers is the key to affordable home insurance. MoneyGeek’s home insurance calculator facilitates this process, providing quotes without needing your personal information upfront.

For those seeking home insurance for high-value homes in South Carolina, State Farm is the cheapest option, offering an average rate of $4,088 annually for $750K in dwelling coverage. High-value homes tend to have higher insurance costs since they may cost more to rebuild.

See the different rates for dwelling coverage tiers below:

• Cheapest for $750,000: State Farm at $4,088 per year
• Cheapest for $1,000,000: State Farm at $5,138 per year

When determining your dwelling coverage limits, set them based on the cost to rebuild your home rather than its property value. Check MoneyGeek's table to grasp how prices vary with different dwelling coverage levels.

Chubb is the cheapest home insurance provider for newly built homes in South Carolina, offering policies at $465 annually for $100K in dwelling coverage. More durable construction materials cause newer homes to have more affordable insurance, as they are less prone to insurance claims.

Check out the most affordable premiums for different dwelling coverages for new construction:

• Cheapest for $100,000: Chubb at $465 per year
• Cheapest for $250,000: State Farm at $1,022 per year
• Cheapest for $500,000: State Farm at $1,671 per year

Explore MoneyGeek's detailed comparison table for the cheapest home insurance for full details on each level of dwelling coverage.

The most affordable home insurance in South Carolina for homeowners with poor credit scores is from Chubb, offering an average annual premium of $583 for $100K in dwelling coverage.

If you have poor credit in South Carolina, Chubb is the most affordable provider across different coverage limits:

• Cheapest for $100,000: Chubb at $583 per year
• Cheapest for $250,000 Chubb at $1,645 per year
• Cheapest for $500,000 Chubb at $3,486 per year

Usually, it's more expensive to get an insurance policy if you have poor credit. Insurers use your credit score to determine your financial stability and likelihood of paying premiums. A better credit score represents less financial risk to your home insurance provider.

For homeowners in South Carolina who have had one claim in the past five years, the cheapest home insurance is from Chubb, where rates average $612 per year for $100K in dwelling coverage. Typically, homeowners who filed claims previously pay higher premiums for future claims.

Check the most budget-friendly options for different coverage levels for owners with one claim within the past five years and homes built in 2000:

• Cheapest for $100,000: Chubb at $612 per year
• Cheapest for $250,000: Chubb at $1,729 per year
• Cheapest for $500,000: State Farm at $3,368 per year

Homeowners who haven't had any claims in five years pay an average of $1,441 annually, compared to those who have at least one claim in the last five years and pay an average of $2,345 per year.

The type of construction materials used to build your home and the type of roof you have can significantly impact your home insurance costs. If you live in South Carolina, and your home is of "frame" construction type with a shake-treated roof, Chubb offers the cheapest home insurance premium at $583 annually. The higher risk of damage associated with these materials, especially considering South Carolina's frequent storms and hurricanes, can increase your insurance costs.

To land the cheapest insurance, consider these companies at different coverage levels:

• Cheapest for $100,000: Chubb at $583 per year
• Cheapest for $250,000: Chubb at $1,645 per year
• Cheapest for $500,000: State Farm at $2,974 per year

When comparing homes, frame construction and shake-treated roofs can increase your insurance by $390 annually. In comparison, a superior construction-type home with a tile roof costs an average of only $1,203 annually. Investing in homes with superior constructions and tile roofs can significantly cut down your insurance expenses.

Changing your deductibles can help save you money annually. South Carolina's cheapest home insurance with a $2,000 deductible is from Chubb — with annual premiums averaging $489. This rate is $163 less than a policy with a $500 deductible from the same company.

Below are the most affordable rates and providers in South Carolina for varying deductibles:

• $2,000 deductible: Chubb at $489 per year
• $1,500 deductible: Chubb at $583 per year
• $1,000 deductible: Chubb at $583 per year
• $500 deductible: Chubb at $652 per year

Within the state, the average difference between a policy with a $2,000 deductible and one with a $500 deductible is $131 annually across all insurers.

State Farm offers the most affordable home and auto insurance bundle in South Carolina at an average of $2,301 annually. Bundling your home and auto insurance can bring you significant discounts. For instance:

• State Farm at $2,301 per year
• Allstate at $2,318 per year
• Auto-Owners at $2,816 per year

In addition to saving money, the convenience of managing both policies with a single insurer simplifies your insurance procedures. This means you experience better policy management while engaging with a single point of contact. Check out the best South Carolina insurance bundle for more insights.

Chubb offers the most affordable home insurance in most South Carolina cities, with rates ranging from $372 to $1,042. We can attribute this pricing discrepancy to local variables such as crime rates, building regulations and climate risks. For example:

• Sumter has the cheapest yearly premium provided by Chubb at $372.
• Meanwhile, Charleston's least expensive policy is $1,042 with the same provider.

We recommend comparing quotes from several companies as insurers' rate calculations differ based on geographical factors, leading to potential savings. See our table below for the cheapest home insurance providers in different South Carolina localities.