Homeowner Insurance In Charleston, South Carolina

Lodged amidst the Southern charm of South Carolina, Charleston is a city that effortlessly marries history with modernity. Its skyline is punctuated by the majestic Arthur Ravenel Jr. Bridge and its streets echo with tales from the historic Charleston City Market. The city's Rainbow Row paints a vibrant picture that perfectly encapsulates the spirit of Charleston. Among these landmarks, more than 65,278 homes stand, many with an average value of $517,054.

As a homeowner in Charleston, you've accomplished something extraordinary. Your home is a testament to your hard work and determination. But, it's crucial to remember that homeownership is only half the battle won. The other half lies in protecting this invaluable asset.

South Carolina Homeowners insurance is not just coverage; it's a promise. A promise to safeguard your home against unforeseen circumstances. It's the reassurance that your hard-earned investment is shielded from life's unpredictability. With homeowners’ insurance, you can rest easy knowing that your piece of Charleston is secure.

At Southern Insurance Group, we understand how important it is to have the right homeowners' insurance policy for your needs. We offer a variety of coverage options designed to protect you against any type of loss or damage. Whether you're looking for flood insurance, liability coverage, or replacement cost coverage, we have the right policy for you. We also provide discounts on a wide range of policies to help make homeownership in Charleston more affordable.

Contact us today to get a free quote and find out how we can help make sure your piece of Charleston is always safe. We look forward to working with you!

The cost of homeowners insurance in Charleston, SC varies depending on the type of coverage you choose. The main types of homeowners insurance in Charleston, SC are:

1. HO-1 (Basic Form): This is the most fundamental type of home insurance policy, providing coverage for a select number of perils such as fire, lightning, windstorms, and hail. It's worth noting, however, that this policy type is becoming increasingly rare due to its limited scope of coverage.
2. HO-2 (Broad Form): An upgrade from the basic form, the HO-2 policy extends its coverage to include additional perils. These might encompass damages from falling objects, water damage resulting from plumbing malfunctions, and damage from the weight of ice, snow, or sleet. Essentially, it covers everything included in an HO-1 policy, along with a few additional risks.
3. HO-3 (Special Form): The HO-3 policy is the most widely availed home insurance policy. Its appeal lies in its provision of all-risk coverage for your home's structure, implying it covers all perils except those explicitly excluded in the policy. However, for personal belongings, it only provides coverage for named perils specifically listed within the policy.
4. HO-4 (Tenant's Form): Commonly referred to as renters' insurance, HO-4 policies cater to tenants. They cover a tenant's personal property against the same perils as an HO-2 policy, while also including liability coverage should a claim be made against the tenant.
5. HO-5 (Comprehensive Form): The HO-5 policy is the most inclusive type of homeowners' insurance policy, covering more perils than any other policy type. It offers all-risk coverage for both your dwelling and personal property, ensuring extensive protection.
6. HO-6 (Condo Form): Tailored for condominium owners, HO-6 insurance safeguards personal property, provides liability coverage, and covers certain parts of the interior structure. The external structure of the building and common areas are generally covered under the condominium association's policy.
7. HO-7 (Mobile Home Form): This policy mirrors the HO-3 policy but is specifically designed for mobile or manufactured homes, catering to their unique needs and considerations.
8. HO-8 (Older Home Form): An HO-8 policy caters to older homes where rebuilding to current standards following a total loss would be excessively expensive. It covers a limited set of perils and compensates only for repair costs or the actual cash value, not the replacement cost.

Each of these policy forms is tailored to meet distinct needs, making it imperative to choose one that aligns best with your specific home requirements and circumstances.

Another important factor to consider when shopping for homeowners’ insurance in Charleston, South Carolina is the type of perils covered. There are two main types of policies: named peril and open peril. 

Named peril policies only cover losses caused by specific events as listed in the policy language, while an open peril policy covers all causes of loss except those excluded from coverage. For example, a named peril policy may cover damage caused by fire or lightning but not floods or earthquakes. 

Open peril policies tend to offer more comprehensive coverage but can also be more expensive. When selecting a policy type in Charleston, South Carolina, it is important to weigh the cost vs the value of additional protection offered.

In addition to the standard coverage offered by homeowners insurance policies in Charleston, South Carolina, there are several types of additional coverage available. These include:

• Liability Coverage: Liability coverage provides protection against legal and medical expenses resulting from bodily injury or property damage caused by your negligence. This is an important coverage to consider in case of an accident on your property.
• Flood Insurance: Despite not being required by most mortgage lenders, flood insurance is a good option to protect against costly water damage caused by floods. As this type of damage is excluded from standard homeowners' policies, it is important for Charleston residents to investigate the availability and cost of purchasing a separate policy to cover this risk.
• Extended Replacement Cost Coverage: The cost of rebuilding a home today is often higher than the current market value due to inflation and rising construction costs. Extended replacement coverage provides an additional cushion in case of damage, ensuring that enough funds are available to rebuild the house exactly as it existed before the loss occurred.
• Umbrella Liability Insurance: For those who own valuable assets such as second homes or rental properties, umbrella liability insurance provides additional coverage for legal expenses related to lawsuits. Umbrella liability insurance is especially important for Charleston residents with considerable personal wealth that could be at risk in a lawsuit.

You may also consider purchasing an endorsement, which adds or changes existing coverage and is added to your policy for a fee. This can provide additional protection in the event of losses that would otherwise be excluded from standard homeowners insurance policies.

The average cost of homeowners insurance in Charleston is approximately $3,200 per year for dwelling coverage of up to $500,000. This is just an estimate, and the price can vary based on several factors such as:

• The size and age of the home: Older homes tend to cost more to insure because of their higher risk of damage.
• The location: Homes located in high-risk areas are more expensive to insure due to the increased likelihood of losses.
• Deductibles: Higher deductibles will result in lower premiums.
• Personal belongings and liability coverage: The coverage for personal items, as well as liability coverage, can affect the overall cost of your policy.
• Any additional endorsements or riders included in the policy.

It's important to shop around and compare rates from different companies, as the cost of homeowners insurance in Charleston can vary greatly depending on the insurer.

There are several ways to save money on your Charleston homeowners insurance:

• Install safety devices: Smoke and carbon monoxide detectors, fire extinguishers, deadbolts and security systems can help lower the cost of premiums.
• Bundle policies: Insuring your home and auto with the same company can result in discounts.
• Increase your deductible: Raising the deductible on your policy can reduce premiums.
• Maintain a good credit score: Insurance companies often look at credit scores when setting rates, so maintaining a good score can help you save.
• Shop around and compare rates: Different insurers may offer different discounts or coverage for the same price, so it's important to compare different policies and companies.

The surest way to save money on your Charleston homeowners insurance is to work with a local, independent agent who can help you shop around and find the best rate. They will be knowledgeable about the area and can work hard to find you the best policy for your needs at a price that fits your budget.

If you need to file a claim with your Charleston homeowners insurance policy, the process is relatively simple. Contact your agent or insurer and provide them with details about what happened. Provide any pictures or other documentation that might be needed to help prove your claim. Once the claim has been filed, an adjuster may come to assess any damages that have occurred and determine a settlement amount. Once the adjuster has arrived, you should receive your settlement within a few weeks.



It's important to remember that homeowners insurance is designed to help protect your home and belongings in case of damage or theft. Make sure to contact your insurance provider as soon as possible if you have an emergency so they can begin processing your claim quickly. Finally, be sure to ask your agent any questions you have about coverage or claims so that you can make an informed decision and stay properly protected.

When it’s time to shop for homeowners’ insurance, Southern Insurance Group is here to help. Our experienced agents are familiar with the area and can provide you with a range of policy options to choose from. 



We understand how important it is that your home be properly protected, so we will work hard to make sure you get the coverage you need at a price that fits your budget. Give us a call today to learn more. We look forward to helping you get the right policy for your home. Thank you!