Homeowners Insurance in Spartanburg, South Carolina (2024)

Life in Spartanburg has a unique charm, but there’s one thing that living in Spartanburg has in common with everywhere else: the need for home insurance.

Homeowners insurance is required when you have a mortgage. But, you still have a choice in who provides your coverage. And this isn’t a decision you should take lightly. We wrote this guide to home insurance in Spartanburg to arm you with the knowledge to make a good decision about your policy.

In Spartanburg, homeowners insurance on a $200,000 house costs about $1,755 on average. This rate is lower than the similar-sized cities of Florence and Sumter and very comparable with nearby Greer. It’s a relatively homeowners-insurance-friendly city.

Also, Spartanburg’s inland location shields it from many of the effects of dangerous hurricanes that plague many of the coastal cities in the state. But, that doesn’t mean it’s entirely without hazards. Natural disasters are just one factor that influence homeowners insurance rates.

Keep reading to understand what major insurers in the Spartanburg area are charging for premiums, and see how some more critical factors impact rates.

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.

As you can see from our list of select providers above, Spartanburg has quite a range of rates, with $3,888 separating the highest premium from the lowest on our list. It’s immediately apparent that Universal Property & Casualty is remarkably more affordable than the other carriers mentioned.

Premiums go up from every company when covering a $350,000 house, but that’s normal. Generally, the larger and more expensive a place is, the more it costs to insure. UPCIC remains the most affordable for $350,000 homes, too, with State Farm again the closest competitor.

To get a further understanding, take a look at the home insurance rates in Spartanburg when accounting for two significant variables: home construction and home age.

In Spartanburg, frame homes with a value of $200,000 cost about $146 more on average to insure than masonry homes of a similar value. When you raise the home value to $350,000 (see the numbers below), the difference increases even more. 

Frame homes tend to have higher premiums because they’re more susceptible to several forms of damage than masonry homes are. Due to their brick or concrete structure, masonry homes often stand up to high-speed winds from hurricanes or tornadoes better. And, they wouldn’t suffer as much damage from a fire.

Additionally, younger homes valued at $200,000 had premiums about $310 lower than older homes of the same value. The difference increased to $462 for $350,000 newer and older homes. 

Younger houses have lower rates because they often have fewer issues that can lead to claims than older houses with more wear and tear and potentially dated construction methods.

Spartanburg homeowners insurance policies contain a few standard coverages that protect you and your property in different ways. Normally, you can expect the following sections in your policy:

Dwelling coverage and other structures coverage both protect the structures on your property. Dwelling coverage is designed for your main house. It financially guards your roof, walls, and floor. It also provides some coverage for plumbing, electrical, and HVAC systems. Other structures coverage is for the features on your property that aren’t attached to your main house, like sheds, fences, carports, and detached garages.

The amount of dwelling coverage you have is based on the value of your home, and the amount of other structures coverage you have is usually about 10% of your dwelling coverage. For instance, if you have $200,000 of dwelling coverage, you may have $20,000 of other structures protection.

Personal property coverage is designed for the belongings in and around your home like furniture, clothes, televisions, computers, art, and other personal items. Creating a home inventory list to determine the value of your things is a good way to determine how much personal property coverage you should get.

Loss of use coverage applies if your house suffers damage from a covered peril, and you must move out while your insurance company makes repairs. For example, let’s say your home gets destroyed by an electrical fire. While it’s being rebuilt, you’ll need to move out. Your insurer can reimburse you for the costs you rack up when you move out, such as expenses for temporary lodging, food, gas, and more through your loss of use coverage.

Liability coverage and medical payments coverage kick in if someone suffers an injury on or around your property that you may be liable for. For example, someone could slip and fall around your pool and then sue you. Liability coverage can cover their medical costs and your legal fees. Medical payments also covers medical expenses, but it’s designed only for minor injuries.

Home insurance plans usually come with at least $100,000 of liability coverage and a few thousand dollars of medical payments coverage.

Spartanburg can experience flash floods. Sometimes they’re due to hurricanes, but often they’re the result of heavy rains. The Federal Emergency Management Agency (FEMA) creates and manages flood maps for the nation. Certain areas of Spartanburg have been deemed special flood hazard areas, or high-risk flood zones.

For example, some properties around Spartanburg High School are in a flood zone. If your property is in a special flood hazard area, your mortgage lender will require you to get flood insurance.

Flood insurance is unique in a way because the government is the largest flood insurance provider in the country. The National Flood Insurance Program (NFIP), administered through FEMA, historically wrote almost every policy in the country.

The NFIP still holds the majority of flood insurance plans, but more and more private companies are competing in the flood insurance market, often with better coverage at more affordable rates.

If you want to explore your flood insurance options, Clovered can help. Like with home insurance, we partner with several top flood insurance providers, including the NFIP. We can help you find the coverage you need at the price you want.

We’ve gone over some important factors that influence home insurance costs, but there are more factors that matter. Some of them are:

Susceptibility to severe weather: Even though we mentioned Spartanburg is largely safe from hurricanes, it doesn’t mean they don’t have any effect. Just two years ago, Tropical Storm Zeta caused damage in the region, and before that, Hurricane Laura threatened upstate South Carolina with winds and rain.

The possibility of hurricanes and even tornadoes around Spartanburg almost certainly affects home insurance premiums. Generally, the possibility of such inclement weather raises rates.

Features of your home: Some features of your, called “attractive nuisances,” can make your home riskier and thus raise your premiums. Pools and trampolines, for example, are two of the biggest attractive nuisances.

Conversely, your home can also have certain features that make it safer and lower how much you pay for home insurance. Having a security system, fire sprinklers, or deadbolt locks can get you a discount with many companies. Also, insurers are required to lower premiums for policyholders who have gotten successful wind mitigation inspections done on their homes.

Your deductible and amount of coverage: Generally, the higher your home insurance deductible is, the lower your rates are. Your deductible is the amount you pay when filing a claim before your provider covers the rest of the bill. If you choose to pay a higher deductible, your insurer will reward you by lowering your premiums. 

If you want home insurance in Spartanburg, we’d love to help. At Clovered, our team of dedicated agents can help people in 19 states find coverage. We partner with some of the top insurers in the country to present you with options for protecting your property. 

You can use our online quoting platform to compare homeowners insurance options entirely 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 at [email protected].