Insurance carriers calculate the cost of a home insurance policy by asking "how likely is it that something bad will happen?" The more likely it is that something bad will happen, the more expensive the home insurance policy will be, and vice versa. We call these potential disasters "risk." Let’s take a look at how risky South Carolina is compared to the rest of the US.
The burglary rate in South Carolina is significantly higher than the national average. Homeowners should take precautions to protect their property, and should ensure that they have the right coverage in place for all of their valuable belongings.
- Average number of burglaries per 1,000 homes in SC: 6.65
- Average number of burglaries per 1,000 homes in the US: 4.69
Hurricanes that make landfall on or near the South Carolina coast can cause a lot of difficulties for local homeowners. Heavy rains, strong winds, and occasional tornados can all wreak havoc on area property.
- Number of federally declared disasters since 1953: 28
- Most common cause of disasters in the state: Hurricanes
- Average number of tornados in the state per year: 23.3
- Amount paid in home insurance claims in 2016: $892,835,000
- Average home value in SC: $297,700
- Average home value in the US: $188,900