Homeowners Insurance in Beaufort, South Carolina (2024)

Investing in a house is a serious decision for anyone. To protect such a significant investment, you should make a well-informed decision about homeowners insurance. We broke down rates from several major insurance companies in Beaufort. Keep reading as we analyze premiums, coverages, and cost factors below so you know what to expect before you buy in Beaufort.

Based on our list of popular insurers in Beaufort, the average premium for a $200,000 house is $3,175, and about $4.991 for a $350,000 house. At the $200,000 price point, this is higher than rates in the more populous cities of Charleston and Columbia. 

Beaufort’s great location comes with at least one major drawback. It’s especially susceptible to hurricanes and flooding, which affects home insurance rates in the area. The possibility of such severe weather raises home insurance premiums, and it shows in Beaufort. Take a look at what some of the top insurance companies in Beaufort charge to cover your home.

The rates in this article are sourced from the South Carolina Department of Insurance. The top 25 insurer groups by national premium volume were required to submit their annual rates, while other companies opted to do so voluntarily. The sample rates are for a homeowner with no insurance claims in the past five years and an average credit score.

Even though the average premium was $3,175 for $200,000 homes, three of the eight companies listed came in under – some well under – the average. This is why it’s important to break down the numbers. Safeco and Foremost were both over $2,600 more than the average, so they skew it higher. 

Travelers and Universal Property & Casualty were the most affordable companies at both price points. Rates for $350,000 homes are higher than those for $200,000 homes because, simply put, the bigger and more expensive your house is, the more coverage you’ll need. The more insurance coverage you need, the more you’ll pay for that insurance.

Below, we dive deeper into the numbers, accounting for two more important factors that impact home insurance premiums in Beaufort.

You’ll notice that frame homes have higher rates than masonry homes of a similar age. Frame homes tend to cost more to insure because their wooden skeletons are more susceptible to many forms of damage. Frame homes can be impacted by high winds more easily. They can also suffer greater damage from fires.

Additionally, older homes generally have higher premiums than younger homes. Older homes can have more problems that spell trouble for insurers. Features like aging roofs and outdated home wiring systems make your home riskier. As a result, insurance companies charge higher premiums on older homes to offset the increased chances of paying out a claim.

Look at the list below to see how the home insurance numbers change when covering a $350,000 house in Beaufort.

State Farm is one of the largest insurance companies in the nation and a popular choice in Beaufort, too. Average premiums from State Farm were below the city average for many categories of homes we listed except for newer, $200,000 houses, where it was only $35 over the average, and older, $350,000 homes, where it was $250 over the average.

Overall, their rates seem to be about the middle of the pack. Three insurers had lower overall average premiums than State Farm for homes in both price ranges.

We’ve gone over the numbers, but what protection do you get exactly when you pay these thousands of dollars to your insurance company every year? In your policy, you can expect protection for your property in the form of dwelling and other structures coverage, protection for your belongings in the form of personal property insurance, and protection for your finances in the form of loss of use, liability, and medical payments coverage.

Dwelling coverage safeguards the main structural components of your house, like the roof, floor, walls, and windows. It also covers the electrical and plumbing systems. 

The amount of dwelling coverage you have is based on the value of your home. For example, if you have a $400,000 house, you should have at least $400,000 worth of dwelling coverage.

Other structures coverage protects the features and structures on your property that aren’t a part of your main house. These could include fences, sheds, carports, detached garages, gazebos, and more. 

The amount of other structures coverage you have is derived from your dwelling coverage; it typically maxes out at 10% of your dwelling coverage. For instance, if you have $400,000 of dwelling coverage, you’d likely have around $40,000 of other structures coverage.

Personal property coverage is designed to guard your belongings inside and around your house financially. These include your furniture, clothes, electronics, lawn equipment, tools, jewelry, and more. 

You should add up all the items in your home to see their total value. Then, opt for at least that much personal property coverage in your policy so you can get fully reimbursed in case your things suffer serious damage or get stolen.

Loss of use coverage kicks in if you’re forced to move out of your house after it suffers damage from a covered peril. When your insurer is rebuilding your home, and you need to relocate temporarily, your loss of use coverage can cover many of the costs you rack up. Your insurance company can cover lodging, food, gas, and storage fees.

Liability coverage is useful if someone gets hurt on your property. If the injured person sues you for damages, your liability coverage can cover their medical expenses and your legal fees. Policies typically come with a minimum of $100,000 of liability coverage.

Medical payments coverage is like liability coverage, but it’s designated only for minor injuries. Policies usually come with a few thousand dollars of medical payments coverage.

In addition to the ones we went over in-depth earlier, home insurance in Beaufort is affected by many factors. Some of these are:

Location of your home: Beaufort’s location on the South Carolina coast means it’s at great risk of damage from hurricanes every year. Homes that can suffer damage from natural disasters usually pay higher premiums than policyholders who are safe from severe weather such as tornadoes and hurricanes.

Features of your home: Certain characteristics of your house can impact premiums for better or for worse. Having attractive nuisances on your property, such as a pool or a trampoline, can raise your premiums. Having a home security system, fire sprinklers, or deadbolt locks can get you a discount. Also, proving your home is effectively wind-resistant with a wind mitigation inspection can significantly lower your premiums.

Your claims history: Filing several insurance claims in a short period can raise your rates. Providers believe that someone who has filed a home insurance claim is more likely to file another in the future. So, to offset the increased chance of a payout, insurers may charge this person higher premiums.

Your deductible: You typically choose your deductible when you get a home insurance policy. Your deductible is the amount you must pay when filing a claim before your insurer will pick up the rest of the bill. Opting for a higher deductible, meaning choosing to pay a larger amount before you file a claim, can result in lower monthly (or yearly) premiums.

Being in the Lowcountry means water can become a problem often. The Beaufort area flood maps have seen some recent changes that have relaxed flood insurance requirements in the town, but many properties are still in Federal Emergency Management Agency (FEMA) flood zones. There are many flood zones around the Beaufort River and other waterways.

Homeowners insurance doesn’t cover flooding damage. If you’re in a high-risk flood zone, your mortgage lender will require you to get flood insurance to protect your property. Heavy rains and storm surges in Beaufort can cause water damage on parcels outside flood zones, too, though.

The National Flood Insurance Program (NFIP) is the largest flood insurer in the country.  It’s backed by FEMA, which means the government manages it. As technology improves over time, more and more private insurers are offering better flood coverage than the NFIP at competitive rates. As you should with home insurance, you should consider your options for flood insurance in Beaufort.

Clovered partners with several of the top flood insurance companies in the nation. This includes the NFIP as well as several private companies. If you’re looking for flood insurance in Beaufort, we can help. You can fill out our flood insurance quote form and a licensed agent will get back to you soon to discuss your options for flood insurance.

There’s a lot of information to keep in mind when shopping for home insurance in Beaufort. If you want expert help before you make a decision, contact us. We’re Clovered, an insurance agency that operates in 19 states with the objective of simplifying insurance coverage for our customers.

We’d love to help you protect your property. You can use our online quoting platform to compare homeowners insurance options completely online, or you can speak to one of our licensed agents on the phone by calling 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. You can also email us anytime at [email protected].