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South Carolina’s breathtaking scenery, warm climate, and relatively low cost of living make it an excellent place to settle down. However, homeowners in the Palmetto State need to know they’re exposed to several risks that can mean high insurance costs
Hurricanes, violent thunderstorms, and tornadoes are a few of the reasons the average South Carolinian pays so much for home insurance. Unfortunately, climate change is causing more frequent and more intense storms, which means your insurance rate will likely keep going up.
But Kin is a different kind of insurance company, and we’ve built a homeowners policy that’s both versatile and affordable. By accessing thousands of data points, we’re able to identify your home’s real risk and price your policy appropriately. This means many of our policyholders save money on their homeowners insurance.
Let’s take a look at what our South Carolina homeowners insurance has to offer.
For South Carolina homeowners, we offer House & Property insurance that can cover:
Our flexible House & Property policies can cover homeowners whether they occupy the property or rent it out. For homeowners who live in the house they’re insuring, House & Property insurance may also cover their:
If you rent your home to others, then you can typically get some of your rental income covered when claims force your tenants to move temporarily.
House & Property policies insure your dwelling on an open-perils basis. This means perils are covered unless specifically excluded by the policy language. Some of the most common events that cause damage are typically covered, including fire, theft, wind, and hail.
According to our most recent data, South Carolina home insurance costs $1,596 per year on average. We’re able to offer lower homeowners insurance rates because we use technology to analyze more data than our competitors. This allows us to more accurately assess your risk and price your policy fairly.
That number is, of course, an average. Your premium may be different based on characteristics unique to you and your home, such as your home’s:
The amount of coverage you need and your prior claims can also play a role in your home insurance rate.
You may qualify for a discount on your South Carolina homeowners insurance when you:
You can also save money if you increase your standard deductible. When you do this, you take on more of the financial costs when you have a claim. While that usually lowers your premium, you want to make sure that you pick a deductible you can afford.
Our House & Property insurance typically has three deductibles:
The state of South Carolina does not require you to get homeowners insurance. However, your lender most likely will demand you have home insurance. Some may also require flood insurance depending on where you live.
|Hurricanes||South Carolina has a 79.7% chance of being impacted by a tropical storm each year.|
|Wind and hail||Summertime thunderstorms often bring hail and damaging winds.|
|Tornadoes||Since 1950, South Carolina has averaged 11 tornadoes per year.|
These risks give you a good idea as to why getting home insurance is a good idea﹘even if you aren’t required to get a policy. Without insurance, you’re responsible for 100 percent of any loss. That’s not a big deal if the damage is minor, but major storms can be much more expensive. The right homeowners insurance can help you recover faster.
Please note: The state’s emergency management division says that South Carolina has a high risk for inland and riverine flooding. However, flood damage is not covered by most homeowners insurance policies.
Hurricane insurance isn’t actually a product you can buy, so it’s not required in South Carolina. That said, you can find coverage for damage caused by hurricane winds in your homeowners insurance policy. Water damage from a hurricane is another story. You usually need flood insurance for that.
South Carolina homeowners are not required to get wind/hail coverage. However, the state has mandated that insurance companies make wind/hail coverage available to coastal homeowners since 1971.
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