Home Buying in 29455>Question Details

rrudge, Home Buyer in Johns Island, SC

What would be the average cost of Homeowners Insurance in South Carolina? Would you need some type of additional Huricane or flood insurance? Is?

Asked by rrudge, Johns Island, SC Sun Jan 13, 2013


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This is a great question but one that will be hard to provide a answer that is specific. There are so many factors and variables that go into calculating an insurance rate. On Johns Island home owners insurance could be as low as $1,000 to $1,200 per year and as much as a few thousand dollars a year for a larger home. Most likely if you have a loan on your home your lender will require additional flood insurance. These rates can vary a great deal as well. A flood policy could be $400 or as much as a few thousand dollars. As you search for a home insurance almost needs to be handled on a case by case basis. I have seen a home have a yearly flood policy of $500 while the home across the street that was built slightly differently have a policy of $2,000 yearly. Insurance companies look at the insurance history and credit score of the home owner. Five people could get five different rate quotes on the same property.
5 votes Thank Flag Link Sun Jan 13, 2013
I would suggest you contact an insurance agent. The rates vary particularly in Charleston due to flood and wind and hail insurance. The rates are also based on how old the home is, how close it is to a fire station and your credit rating. It is complicated but a good agent should be able to help you. If you are working with an agent to purchase a home, they should be able to give you some directions but always defer to the insurance agent and company. Rates vary between companies and I have been placing some of my homeowners with an insurance agent that is a broker and can get you some good quotes.

Kathy Emde
Primrose Properties, LLC
0 votes Thank Flag Link Sun Jan 13, 2013
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