South Carolina Home Insurance Considerations to Make

Coastal homeowners in South Carolina may discover they have to pay higher premiums or significantly higher deductibles due to the potential damage that can be caused by hurricanes, particularly in light of the most recent hurricane disasters in this country.

Too many homeowners simply believe their established deductible is established based on a percentage of the claim that is to be filed. More accurately, these deductibles are determined using the percentage of the insured value of the property and structure(s). As an example, if a $500,000 home with a deductible of 5% qualifies for $25,000 in storm damage, the plan wouldn't take care of any part of the loss because the deductible goes towards the home's value. This would be a total of $25,000, not the lost, in which the deductible would end up being $1,250.

The South Carolina General Assembly passed the Omnibus Coastal Property Insurance Reform Act in 2007. This law was created to help homeowners by increasing private policy availability. Many new carroers arrived in South Carolina since the law was passed.

South Carolina home premiums rank number 15, along with Arkansas, for its average costs. Don't let this get you down because there are some strategies you can put in place to drop the pricing down while still enjoying fantastic coverage.

If you haven't bought your home as of yet, read the following information and consider ways in which you can be adequately protected whil enjoying great rates:

There are several other factors that can influence how much you will pay:

This list is certainly not exhaustive. Contact your provider to see if there are any additional savings opportunities you can unlock.