Cheapest Homeowners Insurance Companies In Greenville, SC
Allstate offers the best cheap home insurance in Greenville.
If you’re lucky enough to own a home in Greenville, you’re probably aware that home insurance in this area can be costly compared to inland cities. At Insuranceopedia, we understand that finding affordable home insurance in Greenville can be a time-consuming task. To help you save time, we’ve put in the effort and researched the companies that we believe will best suit your needs.
Spoiler alert: our findings reveal that Allstate offers the most economical homeowners insurance, closely followed by State Farm. For military families, USAA takes the top spot as the most affordable option. However, don’t stop reading just yet, because we may have discovered another insurer that perfectly aligns with your unique requirements, such as providing the best coverage for high-value or new homes.
As a licensed property insurance agent in the Southeast, I’m well aware of the exorbitant costs of home insurance in hurricane-prone states like South Carolina. Alongside the rest of the Insuranceopedia team, I’m confident that perusing this page will save you both time and money.
Best Cheap Home Insurance Companies In Greenville, SC 2024
Compare the cheapest home insurance companies in Greenville, SC
| Overall Rating | Cheapest/Best For | A.M. Best Rating | Average Cost | J.D. Power Rating | Online Experience Rating | Get A Quote | |
|---|---|---|---|---|---|---|---|
| Chubb |
|
High Value Homes |
A++ |
$4,311 |
809 |
7 |
Instant Quote |
| USAA |
|
Military Families |
A++ |
$1,446 |
884 |
8 |
Instant Quote |
| Travelers |
|
Customizable Coverage |
A++ |
$3,718 |
754 |
8 |
Instant Quote |
| Allstate |
|
Cheapest |
A+ |
$989 |
815 |
9 |
Instant Quote |
| State Farm |
|
Cheapest Runner-Up |
A++ |
$1,247 |
829 |
9 |
Instant Quote |
| Amica |
|
Customer Service |
A+ |
$1,078 |
849 |
8 |
Instant Quote |
Our Methodology
In order to find the top home insurance companies in Greenville, we relied on unbiased information provided by A.M. Best (evaluating financial strength) and J.D. Power (measuring customer satisfaction). We also considered feedback from different consumer websites and the personal experience of our writer. This comprehensive approach ensured that our findings were both objective and informed by real-world perspectives.
Quotes Analyzed
Years Of Experience
Brands Reviewed
Research Hours
Best Home Insurance Companies in Greenville, SC
Cheapest Overall
Key Statistics
Why We Like Them
⇅Allstate stands out as the most affordable home insurance company in Greenville. While its competitiveness may vary in other states, Allstate’s extensive range of home insurance discounts specifically tailored for Greenville residents has propelled it to the top of the list.
With a total of 11 homeowners insurance discounts, Allstate offers an impressive selection that includes seven uncommon offerings, as assessed by home insurance analysts like myself. This surpasses the industry average of seven discounts.
Here are some of the notable home insurance discounts provided by Allstate:
- Claims forgiveness: This additional coverage ensures that your rate remains unaffected even after filing a claim.
- Claims-free: Customers can receive a 5% renewal discount every year as long as they remain free of claims.
- Deductible reward: Receive a $100 deduction from your deductible upon signing up.
- Bundle: Enjoy savings of up to 25% by bundling your home and car insurance policies.
- Automatic payment: Save up to 5% by setting up automatic payments.
- Loyalty: Earn up to 10% discount for renewing your policy with Allstate.
- Home buyer: Exclusive discount for recent homebuyers.
- New home: Discount for insuring a newly constructed home.
- Responsible payment: Additional discount for maintaining a good payment history
- Early payment: Receive up to 10% off for purchasing a new policy at least seven days before your current policy expires.
- Protective device: Discount for installing theft and fire protection devices.
Benefits & Drawbacks
⇅- Ample availability of local agents and claims adjusters in South Carolina
- Highly competitive rates in Greenville
- Provides an extensive range of discounts ✓
- Receives a lower-than-average rating for claim satisfaction from J.D. Power
- Experiences a higher volume of complaints compared to the national average ✘
Cheapest Overall
| Company | Annual Rate |
| Allstate | $989 |
| State Farm | $1,247 |
| Auto-Owners | $1,439 |
| USAA | $1,732 |
| Travelers | $2,736 |
Best for High-Value Homes
Key Statistics
Why We Like Them
⇅If you own a valuable home and want extra protection, Chubb is a great choice. But if you’re on a tight budget in Greenville, keep in mind that their rates are higher than average.
Chubb offers additional coverage options for high-value homes, like extended replacement cost coverage for rebuilding after accidents. They also have a risk consulting program that assesses fire and security risks in your home.
Their Masterpiece insurance policy is designed for wealthy clients and includes services for property management and data restoration after computer viruses.
Chubb’s claims agents can approve claims quickly, but any denials require manager approval to ensure a smooth process.
Benefits & Drawbacks
⇅- Provides a cash settlement alternative for those who opt not to rebuild their property following a total loss
- Conducts home assessments for each client to ensure precise coverage in emergency situations
- Masterpiece-level customers have the freedom to select their preferred contractors and artisans for claim repairs ✓
- Lacks online quoting functionality
- Premiums are generally higher compared to most competitors due to the focus on high-value properties
- Policies must be purchased through an agent ✘
Best For High-Value Homes
| Company | Annual Rate |
| Chubb | $4,252 |
| State Farm | $4,346 |
| Allstate | $6,838 |
| Auto-Owners | $6,659 |
| Travelers | $8,453 |
| Nationwide | $10,667 |
Best for Cheapest Runner-Up
Key Statistics
Why We Like Them
⇅State Farm secured the second spot in our rankings, not only because of its affordable rates in Greenville but also due to its strong presence through local agents. This presence is crucial, not just for support after a hurricane or severe storm but also because of the numerous claims adjusters and offices State Farm has in Greenville and surrounding areas.
With State Farm, you can opt for their standard homeowners policy and personalize it with additional coverages like ordinance and law, identity theft protection, and insurance for valuable items such as jewelry. State Farm boasts the highest AM Best financial strength rating of A++, assuring policyholders of their stability.
Furthermore, State Farm offers optional replacement cost coverage for your home, other structures, and personal belongings. This coverage replaces damaged items at their current market value, without factoring in depreciation. Without this endorsement, replacement cost is calculated based on the actual cash value of the items.
Benefits & Drawbacks
⇅- Boasts the largest number of local agents in South Florida
- Offers highly competitive premiums
- Attains the highest possible financial strength rating ✓
- Policies cannot be obtained through independent agents ✘
Cheapest Overall Runner-Up
| Company | Annual Rate |
| State Farm | $1,209 |
| Nationwide | $1,367 |
| AAA | $1,462 |
| Progressive | $2,137 |
| Heritage | $3,307 |
Best for Customer Service
Key Statistics
Why We Like Them
⇅Amica, originally founded in 1907 as an auto insurance company in Rhode Island, has grown to become one of the largest insurance companies nationwide. They now offer a wide range of coverages in 48 states, including homeowners insurance.
Amica stands out with the highest customer service ratings among standard insurance companies, according to J.D. Power. They provide three different homeowners policies to cater to diverse needs:
The Standard Choice policy offers various coverage options, including replacement cost coverage for your home and personal belongings, water backup coverage, and extended protection for devices like computers, tablets, and phones. Please note that additional premiums may apply for these options.
The Platinum Choice policy provides enhanced coverage and more choices for valuable items and collectibles. This policy, known as HO-5, covers your personal property against all perils except those specifically excluded in the policy.
Policyholders can also opt for a dividend homeowners policy, where 20% of the premiums paid are returned each year. It’s important to note that these policies are available only in select states, and the dividend rates can vary.
Benefits & Drawbacks
⇅- Provides three different policy types
- Ranked as top-rated for customer service by J.D. Power ✓
- Not available in all states for insureds relocating from Greenville
- Only accessible through independent agents ✘
Best for Military Families
Key Statistics
Why We Like Them
⇅Back in 1922, USAA was founded by 25 Army officers who wanted to self-insure their cars. Presently, USAA exclusively offers insurance and financial services to members of the U.S. armed forces, Reserve, veterans, and their families.
Headquartered in San Antonio, USAA operates several satellite offices across the United States and in London, Frankfurt, and Luxembourg.
If you’re a USAA member, you can safeguard your home with their standard insurance policy, which covers the replacement cost of your personal belongings. This policy also includes coverage for the uniforms of active-duty and deployed service members. You have the option to add extra coverage like earthquake and home-sharing insurance.
As an eligible member, you can conveniently purchase USAA insurance products online using your active membership ID, via phone, or at a local branch. USAA offers an automated agent chatbot on their website that assists with accessing your online account. Through your account, you can manage your policy, make payments, and even file a claim.
It’s worth mentioning that USAA has been awarded an impressive A++ rating from AM Best, denoting the highest level of financial strength that an insurance company can receive.
Benefits & Drawbacks
⇅- Provides coverage for active duty and deployed service member uniforms and equipment
- Includes standard contents replacement cost coverage ✓
- Does not have physical locations in Greenville for in-person service
- Eligibility limited to current and past military members and their immediate families
- Offers fewer discounts compared to competitors ✘
Best for Military Families
| Company | Annual Rate |
| Allstate | $989 |
| State Farm | $1,247 |
| Auto-Owners | $1,439 |
| Heritage | $3,307 |
| USAA | $1,434 |
Best for Customizable Coverage
Key Statistics
Why We Like Them
⇅Travelers, renowned for its iconic red umbrella, is a highly respected and well-established company that provides dependable homeowners insurance for Greenville residents. With strong financial ratings and flexible policy options to suit different budgets and home types, Travelers is a trusted choice for home insurance coverage.
If you’re a homeowner who has let your previous insurance policy lapse, Travelers can be a great option. Unlike other providers, they don’t require prior coverage on your home for qualification, which is a rare feature in the industry.
To enhance your protection, you have the flexibility to personalize your Travelers homeowners insurance policy with the following optional coverages:
- Extended replacement cost: Increases your dwelling coverage limit by an additional percentage (typically 25% to 50%) if your house is damaged or destroyed, and the rebuilding cost exceeds your policy limit.
- Special personal property: Extends coverage for causes of damage or loss that aren’t covered under a standard policy, such as lost or misplaced items.
- Replacement cost of personal property: Covers the cost of replacing stolen or damaged personal belongings without factoring in depreciation.
- Scheduled personal property: Boosts coverage limits on valuable items like jewelry, watches, electronics, or antiques that often have per-item limits on a standard policy.
- Jewelry and valuable items: Provides higher coverage limits and broader protection for categories of valuable items, such as jewelry, silverware, firearms, and other property classes with relatively low sub-limits.
- Water backup: Covers repair costs if your home suffers damage due to water backing up and overflowing from your drain or sewer line.
- Identity fraud: Offers coverage up to $25,000 for legal expenses, lost wages, and other costs incurred while restoring your identity if it’s fraudulently used.
- Green home: Helps cover the additional expenses of repairing or rebuilding your home with eco-friendly materials after a covered peril.
- Umbrella Insurance: Provides coverage for liability claims that exceed your liability coverage limit, particularly beneficial for individuals with assets valued over $500,000.
- Flood Insurance: Travelers offers flood insurance through the National Flood Insurance Program (NFIP), the primary flood insurance provider in the U.S.
Benefits & Drawbacks
⇅- No prior insurance on the home required
- Includes green home coverage and discounts
- Provides short-term rental coverage ✓
- Offers a limited number of available discounts
- Has higher than average rates
- Receives below average customer service ratings from J.D. Powe ✘
Best for Customizable Coverage
| Company | Annual Rate |
| Allstate | $989 |
| State Farm | $1,247 |
| Auto-Owners | $1,439 |
| Heritage | $3,307 |
| Travelers | $8,453 |
The Average Cost Of Homeowners Insurance in Greenville
Average Cost Of Home Insurance In Greenville
| Company | Annual Rate |
| Allstate | $989 |
| State Farm | $1,247 |
| Auto-Owners | $1,439 |
| Heritage | $3,307 |
| USAA | $1,732 |
Average Cost Of Home Insurance for New Homes In Greenville
| Company | Annual Rate |
| State Farm | $543 |
| Nationwide | $664 |
| Allstate | $882 |
| Universal North American | $1,007 |
| Auto-Owners | $1,238 |
Average Cost Of Home Insurance In Greenville For Extra Personal Property Coverage
| Company | Annual Rate |
| Allstate | $1,204 |
| Travelers | $1,454 |
| Auto-Owners | $1,628 |
| Heritage | $1,699 |
| State Farm | $2,141 |
How to find the best home insurance company for you
Are you searching for the top home insurance company in Greenville? Safeguarding your biggest investment and all your belongings is crucial for your family’s financial security. Follow these simple steps to discover the ideal policy for your needs:
- Start by researching home insurers in Greenville online and select three companies that give you confidence.
- Determine the coverage limits that suit your requirements. You might need assistance from an agent to make this decision.
- Request quotes for coverage from the three insurers you’ve chosen.
- Evaluate the coverage, customer reviews, financial strength, and rates to make an informed decision.
Once you’ve made your choice, complete the application for coverage. Some companies offer online applications, while others may require speaking with an agent.
Largest home insurance companies in South Carolina
The home insurance companies with the largest market share in South Carolina are:
| Rank | Company | Market Share % |
| 1 | State Farm | 22.54 |
| 2 | Berkshire Hathaway | 13.73 |
| 3 | Allstate | 11.25 |
| 4 | Progressive | 10.04 |
| 5 | USAA | 9.63 |
How to get an online home insurance quote in Greenville
To obtain an online home insurance quote, you can follow these simple steps:
- Visit insurance company websites: Start by visiting the websites of potential insurance providers. Most companies offer online tools that allow you to request a quote directly from their site.
- Enter your details: Look for the section where you can request a home insurance quote and provide the necessary information. This will include personal details like your name, address, and contact information. You’ll also need to provide information about your home, such as its size, construction type, and security features.
- Choose your deductible and coverage limits: Select a deductible amount that suits your preferences. The deductible is the amount you’ll pay out of pocket before the insurance coverage kicks in. You’ll also need to decide on coverage limits, which determine the maximum amount the insurance company will pay for different types of claims.
- Review and compare quotes: After providing the required information, the insurance company’s website will generate a quote based on your details. Take the time to carefully review and compare the quotes, ensuring they align with the coverage you need.
- Contact the insurance provider: If you’re satisfied with a specific quote and insurance provider, you can contact them directly for more information or to purchase the policy.
Keep in mind that online quotes are estimates based on the information provided, and the final premium may vary after a thorough evaluation by the insurance company
Factors that impact the cost of your home insurance in Greenville
There are a few things that can affect your home insurance rates in Greenville. Here are some important factors to consider:
- Location: Where your home is situated matters. Since Greenville is prone to risks like hurricanes and flooding, insurance companies look at things like how close your home is to the coast, its elevation, and its flood zone classification.
- Construction and age of the home: The type of construction, age, and condition of your home are important. Older homes may have outdated systems or materials that can impact rates. Newer homes with safety features like fire alarms and strong roofs may qualify for discounts.
- Claims history: Your past claims and how often you’ve made them can affect your rates. Multiple claims suggest a higher risk of future claims, which may increase your premiums.
- Home value and coverage limits: The value of your home and the coverage limits you choose will impact your rates. Higher-value homes typically require more coverage, resulting in higher premiums.
- Deductible amount: The deductible is what you have to pay before your insurance coverage kicks in. Choosing a higher deductible can lower your premiums, but you’ll have to pay more if you file a claim.
- Credit score: In some states, like South Carolina, insurance companies may consider your credit score when setting your rates. Lower scores can lead to higher premiums.
Remember, insurance rates can vary among providers, so it’s a good idea to shop around, compare quotes, and consider these factors before making a decision.
South Carolina home insurance laws to know
Here are some important facts about South Carolina home insurance laws:
No legal requirement: Homeowners in South Carolina are not legally required to have home insurance. However, if you have a mortgage, your lender may require you to have coverage until the mortgage is paid off.
Consumer guide: South Carolina law ensures that homeowners have the right to receive a consumer guide on homeowner’s insurance. This guide, prepared by the South Carolina Department of Insurance, provides valuable information about coverage, deductibles, claims handling, and other relevant details.
Hurricane and windstorm deductibles: Due to the coastal location and the risk of hurricanes and windstorms, South Carolina allows insurance companies to offer separate deductibles for these perils. Instead of a fixed dollar amount, the deductible for hurricane or windstorm damage is typically a percentage of the home’s insured value.
Remember, it’s always a good idea to consult with a local insurance professional or the South Carolina Department of Insurance to fully understand your rights and obligations when it comes to home insurance in the state.
In the news
Based on a recent report from Island Packet News on May 18th, 2023, homeowner insurance rates in Hilton Head have seen a significant surge. This adds to the overall cost of living in the area and puts homebuyers in a challenging financial position. According to Meg O’Toole Herman, an agent at Goosehead Insurance in Hilton Head, rates have gone up by as much as 20% to 70%. William Voelkel from Hilton Head Insurance and Brokerage also noted that rates tend to be higher along the coastline and become more favorable as you move further inland.
Information about Greenville
Nestled in the heart of South Carolina, Greenville is a lively city renowned for its natural beauty, vibrant arts scene, and eclectic culinary offerings. From breathtaking waterfalls to captivating entertainment, Greenville promises an unforgettable experience for all. Explore the great outdoors, indulge in cultural delights, and immerse yourself in the warm hospitality of Greenville.
Home insurance discounts in Greenville
Here are five common ways to save on home insurance in Greenville:
- Bundle and save: You can get a discount by combining your home insurance with another policy, like auto insurance, from the same company.
- Secure your home: Installing security systems, like alarms and cameras, may lower your insurance premium.
- Hurricane-ready benefits: If your home has hurricane-resistant features, such as reinforced windows or a sturdy roof, you could qualify for a discount due to the reduced risk.
- Claim-free advantage: Homeowners who haven’t filed claims for a specific period may be eligible for a discount since it shows a lower risk profile.
- New home savings: Insurance providers sometimes offer discounts for newer homes that have modernized systems, such as electrical and plumbing, minimizing potential claims.
Remember, availability and qualification criteria for these discounts may vary among insurance companies and policies.
Looking For Homeowners Insurance In Other Cities In South Carolina?
FAQs
How much is homeowners insurance in Greenville?
Based on our research, new homeowners insurance can cost anywhere between $631 and $2,707 per month, depending on the insurance company. This highlights the potential savings you can achieve by using InsuranceWise for your home insurance needs.
Why is homeowners insurance so expensive in Greenville?
Greenville’s home insurance rates are higher due to its location near the Atlantic Coast, making it vulnerable to hurricanes and severe storms
Who is the largest home insurer in Greenville?
State Farm is the leading home insurance provider in Greenville, holding the largest market share of 22.54% among insurance carriers.
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