Homeowners Insurance in Greenwood, South Carolina

Greenwood, South Carolina, is nestled among the towering South Carolina pines and located nearly directly between the trifecta of city life in Greenville, Columbia and Augusta. The town boasts a healthy population in the 20,000s and the beautiful campus of Lander University.

Since the threat of heavy-weather hurricanes isn’t as prominent in Greenwood, the average cost of homeowners insurance in Greenwood is below the state’s average. It’s much more affordable than South Carolina’s coastal cities, and even a tad bit cheaper than the larger cities surrounding it. Let’s take a deep dive into what you can expect to pay for premiums.

On average, home insurance in Greenwood, South Carolina, costs about $1,389 annually. That’s about 18% below the average price of a standard policy in South Carolina, which costs about $1,641 annually, and much more affordable than those hurricane-prone cities along the coastline.

It’s important to keep in mind, though, that this rate is an average and doesn’t reflect the subjective nature of homeowners insurance in Greenwood, South Carolina. When drawing up your policy, your insurer will weigh several factors about you that may contribute to your risk of filing a claim. These factors help them set your rates.

If you’re at an above-average risk of filing a claim, you’ll likely see above-average rates to compensate for that risk. The opposite is true, too. If you don’t have any risk factors that stand out to your insurer, you may be eligible for their lowest rates. 

To determine your risk levels and, in turn, your premiums, insurers look at several factors about you, your home, your location, and your policy. Often, insurers will consider things like the age of your home, its construction materials, your city, your claims history, how much dwelling coverage you have on your policy, and much more. 

For example, homes constructed more than 35 years ago are more expensive to insure because of the inherent risk that major systems in the home may be outdated. They’re also more susceptible to damage from windstorms and other natural disasters due to wear and tear over time.

Additionally, masonry homes are less susceptible to sustaining damage because the brick or concrete holds up better to harsh weather. And homes that were built less than 35 years ago may have stricter building codes in place, and assuredly have newer HVAC, plumbing and electrical systems.

Greenwood home insurance covers your house, property, belongings and finances from a multitude of perils that can cause damage. While the most common perils include fire, water and natural disasters, they can also be things like dog bites and accidental damage caused by you to someone else’s property. Let’s take a look at the things that are covered from those perils.

This coverage helps you protect the bits and pieces that make up the structure of your home. This includes things like your foundation, floors, walls, windows, roof, HVAC system, electrical wiring, and more. It may also be called Coverage A. 

This coverage can be used to repair or replace certain structures on your property that aren’t attached to your main home. It may include coverage for things like your pool, shed, fence, detached garage, and more. It’s also referred to as Coverage B. 

This coverage, sometimes called Coverage C, can help you protect a long list of items you store on your property if they’re stolen or damaged by a covered peril on your policy. It can help you repair or replace things like tools, sports equipment, electronics, clothing, furniture, jewelry, and the list goes on. 

It’s important to note, though, that collections of things like jewelry, collectibles, or other high-value items should be scheduled onto your policy to ensure they’re fully protected. 

Loss of use coverage, or Coverage D, can help you and your family if your home suffers major damage from a covered peril, temporarily displacing you. It may help you cover expenses for pet boarding, temporary housing, storage fees, gasoline, and other necessities. 

This coverage, sometimes also called Coverage E, can help you if you’re found liable for a guest’s injuries on your property or damage to someone else’s property. It can help you cover medical expenses and legal fees. 

Medical payments coverage, or Coverage F, can help you cover the cost of a guest’s medical bills for a minor injury they sustained on your property. It’s similar to personal liability coverage but can be invoked regardless of fault and can only be used for medical expenses, not legal fees. 

There are many factors that influence and affect the average cost of homeowners insurance in Greenwood, South Carolina. But some of the most prominent are the ones used to determine the average premiums in this article: age of home, number of claims in the last 5 years and the construction type.

A few other factors that can lead to rate increases or decreases are the amount of coverage you enroll in and the deductible you choose. The more you increase your coverage, the more you’ll be covered for and the more expensive it will be to obtain coverage.

Deductibles work in an adverse reaction, though. If you increase your deductible, which is the amount of money you’re required to pay out of pocket for a claim before your insurance kicks in, you’ll pay less for insurance because you’ll pay more out of pocket if you file a claim. If you decrease your deductible, your insurer will factor in the risk of having to pay more for a claim, so you’ll pay more in premiums.

Due to South Carolina’s lowland elevation and abundance of water, including the Hard Labor Creek and Brightman’s Creek that run through Greenwood, the risk of flooding is major, evidenced recently by Hurricane Debby in 2024. That’s why every homeowner needs to invest in a South Carolina flood insurance policy.

The majority of Greenwood lies in the A and AE flood zones, as designated by Federal Emergency Management Agency flood maps, which means nearly every home in the entire town is at a high risk of sustaining flood damage at least once during the life of their mortgage. Since the average flood claim causes $25,000 worth of damage, it’s better to invest a few hundred dollars a year into a flood insurance policy to help you when you need it.

With Clovered’s easy-to-use online quoting tool, getting a home insurance quote takes just a few minutes. Just fill in a few details about your home, answer a couple of questions and let our quoting engine do the rest.

We’re always here to help. If you’d rather speak to a licensed agent on the phone, just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. Or you can email us anytime at agent@clovered.com.