Myrtle Beach Homeowners Insurance

Find the right homeowners insurance policy for you.


Myrtle Beach, SC is one of the most prestigious places to live in the nation. With access to the Grand Strand and beautiful weather nearly all year long, it’s a popular vacation spot for good reason. But owning a home requires insurance, especially against the damage from hurricanes and other storms that come in from otherwise placid beaches. In order to find insurance that fits your needs at the best price, confide in your Independent Insurance Agent to understand your options and find the lowest cost. Your agent will give you multiple quotes from many different insurers so that you can find the Myrtle Beach homeowners insurance policy that best fits your needs and your wallet.

Cost of Homeowners Insurance in South Carolina

On average in the U.S., homeowners spend $1,034 on home insurance premiums. South Carolina has an average of $1,134. This is largely due to storm damage from hurricanes like Hugo. As a result, these natural catastrophes like Hugo, South Carolina ranks #13 among the states in homeowners insurance cost. Depending on your situation, you can take action to keep your insurance costs low. The cost of homeowners insurance is based on several factors:

  • Home's age and type of construction - Wooden homes are more likely to suffer damage, and older homes are more likely to have electrical fires.
  • Home’s location - How likely are disasters? Crime?
  • Claims history - More claims will make you a bigger risk.
  • Risk factors on the property - Swimming pools and trampolines figure prominently.
  • Credit score - A low credit score is indicative of higher risk.

Second Home and Vacation Home Insurance in South Carolina

Vacation homes are very popular in Myrtle Beach. You need the same insurance on a second home as what you need for your primary residence. Insurance may be higher if the home is vacant much of the year depending on how it is secured. The biggest difference is the tendency for more theft at a home that does not have someone living in it all the time as the main home. Many people opt for lower insurance overall on their second home, but they are taking on the risk of damage on their own. Myrtle Beach home insurance is still critical, even on a vacation home.


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Number of Thefts in South Carolina

South Carolina has more thefts on average than the average of thefts for all states:

  • Nationally, there are 37,814 thefts reported yearly in an average state.
  • In South Carolina, the average is 40,958 per year.

Homeowners policies cover any damage to the property from a break-in. You can also elect to have the contents of your home covered up to a value specified. A policy can be written to cover actual cost or replacement cost depending on what each homeowner needs.

Number of Catastrophes in Myrtle Beach

Hurricanes are major catastrophes in South Carolina, but there are many other kinds of storms that can cause widespread damage. Overall, the statistics are as follows:

  • In recent years, there were 621 catastrophes noted in South Carolina.
  • This includes 13 tornadoes, a relatively low number.
  • The insured property damage was $12,050,000.
  • Overall, 1 in 15 homes has a claim each year in the U.S.

Hurricanes, in particular, cause a lot of widespread damage to both the structure and the contents of your home. While you cannot predict the onset of a catastrophe like bad weather, you can insure your home against loss from one. The right insurance makes all the difference when a disaster hits.

What Are the Risks in Myrtle Beach?

The main risks in this vacation paradise are tropical storms, including hurricanes, as well as break-ins. This makes insurance more expensive than average in Myrtle Beach. There are often ways you can minimize your premiums, however, such as by including storm windows and security systems.

Compare Myrtle Beach Insurance Quotes

Contact your Independent Insurance Agent today to learn more about what you might need. Your agent will tell you what you can do to lower your cost and help you find the best insurance coverage by obtaining multiple quotes from several different companies.

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