Cheapest Homeowners Insurance Companies In Mt. Pleasant, SC

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Updated: 29 January 2024
Written by
Bob Phillips
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If you’re fortunate enough to own a home in the Mt. Pleasant area, you probably know that home insurance can be expensive compared to cities further inland. Our team at Insuranceopedia understands that shopping for the best cheap home insurance in Mt. Pleasant can be time-consuming. To save you some valuable time, we’ve rolled up our sleeves and done our homework on the companies that we believe will best meet your needs.

Spoiler alert: we found that Allstate has the cheapest homeowners insurance, followed closely by State Farm. USAA took top honors for being the cheapest for military families. But, even though you know who’s the most inexpensive overall, read on because we may have found another insurer that will best meet your unique needs, like the best coverage for high-value homes or new homes.

Based on having been a licensed property insurance agent in the Southeast, I understand how expensive home insurance can be in hurricane-prone states like South Carolina. Along with the rest of the team at Insuranceopedia, I’m confident that reading this page will save you both time and money.

Cheapest Home Insurance Companies In Mt. Pleasant, SC 2024

Comparison Of The Cheapest Home Insurance Companies In Mt. Pleasant, SC

Overall Rating Cheapest/Best For A.M. Best Rating Average Cost J.D. Power Customer Satisfaction Rating Online Experience Rating Get A Quote
Chubb
4.6

High Value Homes

A++

$5,348

809

7/10

Instant Quote
USAA
4.9

Military Families

A++

$1,438

884

8/10

Instant Quote
Allstate
4.9

Cheapest

A+

$1,081

815

9/10

Instant Quote
Travelers
4.6

Customizable Coverage

A++

$3,706

754

8/10

Instant Quote
State Farm
4.8

Cheapest Runner-Up

A++

$1,280

829

9/10

Instant Quote
Amica
4.7

Customer Service

A+

Not Available

849

8/10

Instant Quote
Scroll to see comparisons

Our Methodology

We carefully assessed the top home insurance companies in Mt. Pleasant by analyzing reliable data from A.M. Best (financial strength) and J.D. Power (customer satisfaction). To ensure a comprehensive evaluation, we also considered feedback from consumers and the writer's own experience.

39

Quotes Analyzed

15+

Years Of Experience

17

Brands Reviewed

20+

Research Hours

Reviews Of The Best Home Insurance Companies in Mt. Pleasant, SC


Cheapest Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
7/10 Customer Satisfaction/Reviews
8/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

Allstate stands out as the most affordable home insurance company in Mt. Pleasant. While its competitiveness may vary in other states, Allstate’s extensive range of home insurance discounts specifically tailored for Mt. Pleasant residents has propelled it to the top position for affordability

With a total of 11 homeowners insurance discounts, including seven uncommon offerings, Allstate goes above and beyond the industry average of seven discounts. These are the discounts they offer:

Here are some of the notable home insurance discounts provided by Allstate:

  • Claims forgiveness: Extra coverage to prevent rate increases after filing a claim.
  • Claims-free: Customers can receive a 5% renewal discount for remaining claims-free each year.
  • 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: Up to 10% discount for purchasing a new policy at least seven days before the old one expires.
  • Protective device: Discount for installing theft and fire protection devices.

For homeowners in Mt. Pleasant, Allstate’s title as the most affordable option is significant. This is particularly relevant as the area has seen increasing home insurance rates due to insurers paying out substantial claims caused by hurricanes and severe storms. Allstate’s affordability provides valuable relief to homeowners in the face of these challenges.

Benefits & Drawbacks

Benefits
  • Offers the most affordable rates in Mt. Pleasant
  • Provides a wide range of discounts for customers
  • Has a significant presence of local agents and claims adjusters in South Carolina
Drawbacks
  • Receives a higher number of complaints compared to the national average
  • Has a lower-than-average rating for claim satisfaction according to J.D. Power

Cheapest Overall

Company Annual Rate
Allstate $1,081
State Farm $1,280
Auto-Owners $1,592
Heritage $1,726
Travelers $2,714

Best for High-Value Homes

Overall Rating
4.6

Key Statistics

7/10 Affordability
9/10 Customer Satisfaction/Reviews
9/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

If you own a valuable home and value extra protection, Chubb is a great choice. However, if you’re budget-conscious and reside in Mt. Pleasant, remember that their rates are higher than average.

When it comes to insuring high-value homes, Chubb offers various policy add-ons, like extended replacement cost coverage, which assists in rebuilding your home after an accident. They also provide a risk consulting program that assesses potential fire or security hazards before any mishaps occur.

Chubb’s Masterpiece insurance policy is tailored to the needs of affluent clients, offering property management services and restoration of lost electronic data due to computer viruses.
While Chubb’s claims agents can promptly approve claims, they require manager approval for claim denials, ensuring a smooth claims process.

Chubb stands out as the top choice for high-value homes in Mt. Pleasant, thanks to the abundance of such properties in this stunning coastal region. With a strong presence in Mt. Pleasant, Chubb caters to the needs of homeowners with valuable properties, which are prevalent in the area.

Benefits & Drawbacks

Benefits
  • Provides comprehensive home assessments to ensure clients have the right coverage for emergencies
  • Allows Masterpiece-level customers to select their preferred contractors and artisans for claim repairs
  • Offers a cash settlement option for those who prefer not to rebuild their property entirely after a total loss
Drawbacks
  • Tends to have higher premiums compared to most competitors due to catering to high-value properties
  • Lacks online quote availability for convenience
  • Requires policy purchase through an agent

Best For High-Value Homes

Company Annual Rate
Chubb $5,348
Auto-Owners $6,640
Allstate $6,836
Travelers $8,432
Nationwide $10,650

Best for Customer Service

Overall Rating
4.7

Key Statistics

8/10 Affordability
10/10 Customer Satisfaction/Reviews
9/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

With its roots tracing back to 1907 as an auto insurance company in Rhode Island, Amica has grown into one of the nation’s largest insurance companies, serving 48 states and offering a range of coverages, including homeowners insurance.

Amica stands out in terms of customer service, earning the highest ratings among standard insurance companies, according to J.D. Power. When it comes to homeowners insurance, Amica presents three policy options to consider:

The Standard Choice policy provides various coverage options, including replacement cost for your home and personal belongings, water backup coverage, and extended protection for devices like computers, tablets, and phones. Keep in mind that these additional options may require extra premiums.

The Platinum Choice policy offers even more choices and enhanced coverage for valuable items and collectibles. It falls under the HO-5 policy category, which means it covers your personal property for any peril, except for those specifically excluded in the policy.

Another option available to policyholders is the dividend homeowners policy, where 20% of the premiums paid are returned each year. However, it’s important to note that these policies are only available in certain states, and the return rates can vary.

Amica is well-known for its exceptional customer service, making it our top choice in this category. When a hurricane or tropical storm hits Mt. Pleasant, homeowners can rely on Amica for assistance during these difficult times.

Benefits & Drawbacks

Benefits
  • Earns the prestigious recognition of being top-rated for customer service by J.D. Power
  • Provides a comprehensive selection of three distinct policy types
Drawbacks
  • Exclusively accessible through independent agents
  • Limited availability for individuals relocating Mt. Pleasant insureds across certain states

Best for Cheapest Runner-Up

Overall Rating
4.8

Key Statistics

9/10 Affordability
7/10 Customer Satisfaction/Reviews
9/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

State Farm is our second top pick in Mt. Pleasant because of its affordable rates and strong presence of local agents. Having agents available during storms is crucial, and State Farm has a good number of claims adjusters and offices in the area.

State Farm offers a standard homeowners policy that can be tailored with additional coverages like ordinance and law, identity theft protection, and coverage for valuable items such as jewelry. With the highest financial strength rating from AM Best (A++), State Farm provides peace of mind.

Additionally, State Farm offers optional replacement cost coverage for your home, structures, and personal belongings. This means damaged items are replaced at their current market value without factoring in depreciation. Without this coverage, replacement is based on the actual cash value of the items.

In the realm of home insurance costs in Mt. Pleasant, State Farm has maintained a consistent second-place position. This fact holds particular importance due to the rising trend of home insurance rates in this scenic coastal area of South Carolina.

Benefits & Drawbacks

Benefits
  • Offers extremely competitive premiums
  • Obtains the highest possible financial strength rating
  • Boasts the largest number of local agents in South Florida
Drawbacks
  • Policies cannot be obtained through independent agents

Cheapest Overall Runner-Up

Company Annual Rate
State Farm $1,280
Auto-Owners $1,592
Nationwide $1,732
Travelers $2,714
USAA $4,549

Best for Military Families

Overall Rating
4.9

Key Statistics

9/10 Affordability
10/10 Customer Satisfaction/Reviews
9/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

Back in 1922, a group of 25 Army officers banded together to form USAA with the goal of self-insuring their cars. Today, 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 a few satellite offices across the United States and also has a presence in London, Frankfurt, and Luxembourg.

If you’re a USAA member, you have the option to safeguard your home through their standard insurance policy. This policy not only covers the replacement cost of your personal belongings but also extends coverage to the uniforms of active-duty and deployed service members. You can also choose to add extra protection like earthquake and home-sharing insurance.

As an eligible member, you can easily purchase USAA insurance products online using your active membership ID, or you can reach out via phone or visit a local branch. USAA provides a helpful automated chatbot on their website that assists with accessing your online account, managing your policy, making payments, and even filing claims.

It’s worth mentioning that USAA has received the highest financial strength rating of A++ from AM Best, a renowned insurance industry rating agency.

Finding the best insurance for military families is crucial in Mt. Pleasant. South Carolina has five military bases, and many military families settle in the Mt. Pleasant area. While it may not always have the lowest prices, USAA is consistently considered the top choice for military families because of its strong commitment to the U.S. Armed Forces and its excellent customer support.

Benefits & Drawbacks

Benefits
  • Standard coverage for replacement costs of contents
  • Inclusion of coverage for uniforms and equipment of active duty and deployed service members
Drawbacks
  • Absence of in-person locations in Mt. Pleasant
  • Fewer discounts in comparison to competitors
  • Eligibility limited to current and past military members and their immediate families

Best for Military Families

Company Annual Rate
USAA $1,438
State Farm $1,251
Auto-Owners $1,457
Heritage $3,326

Best for Customizable Coverage

Overall Rating
4.6

Key Statistics

8/10 Affordability
7/10 Customer Satisfaction/Reviews
9/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

When it comes to reliable homeowners insurance in Mt. Pleasant, Travelers stands out with its well-known red umbrella logo. As a highly reputable and long-standing company, Travelers offers trusted coverage options for residents. Their excellent financial ratings and flexible policies that suit different budgets and home types make them a solid choice for home insurance.

If you’re a homeowner who previously let your insurance policy lapse, Travelers can be a great option. Unlike other providers, they don’t require prior coverage on your home to qualify, which is a rare feature in the industry.
To enhance your protection, Travelers allows you to personalize your homeowners insurance policy with various optional coverages. These include:

  • Extended replacement cost: Increases your coverage limit if your house is damaged or destroyed, surpassing your policy limit.
  • Special personal property: Extends coverage to items not typically covered under a standard policy, such as lost or misplaced belongings.
  • Replacement cost of personal property: Covers the cost of replacing stolen or damaged personal belongings without accounting for depreciation.
  • Scheduled personal property: Provides higher coverage limits for valuable items like jewelry, watches, electronics, or antiques.
  • Jewelry and valuable items: Broadens protection and increases coverage limits for valuable items such as jewelry, silverware, and firearms.
  • Water backup: Covers repairs if your home is damaged by water backing up from drains or sewer lines.
    Identity fraud: Offers coverage for legal expenses and costs incurred while restoring your identity if it is fraudulently used.
  • Green home: Assists with additional costs of repairing or rebuilding your home using eco-friendly materials after a covered peril.
  • Umbrella Insurance: Provides coverage beyond your liability limit in the event of a claim exceeding your current coverage. Consider this if you have assets valued over $500,000.
  • Flood Insurance: Travelers also offers flood insurance through the National Flood Insurance Program (NFIP), the primary flood insurance provider in the U.S.

Benefits & Drawbacks

Benefits
  • Coverage and discounts for green homes
  • Availability of short-term rental coverage
  • No requirement of prior insurance on the home
Drawbacks
  • Limited range of available discounts
  • Customer service ratings from J.D. Powers are below average
  • Rates higher than the average

How to find the best home insurance company for you

Are you searching for the best home insurance company in Mt. Pleasant? Protecting your valuable investment and belongings is essential for your family’s financial well-being. Follow these steps to find the right policy for you:

  • Research home insurers in Mt. Pleasant online and narrow down your list to three companies that make you feel comfortable.
  • Figure out the coverage limits you need, and you may seek help from an agent for this.
  • Get quotes for coverage from the three insurers.
  • Make your decision based on coverage, customer reviews, financial strength, and rates.
  • Complete the application for coverage.
  • Some companies allow you to handle the whole process online, while others might require you to talk to 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
2 Berkshire Hathaway 13
3 Allstate 11
4 Progressive 10
5 USAA 9

 

Average cost of home insurance in Mt. Pleasant, South Carolina

In Mt. Pleasant, the average yearly cost of home insurance stands at $2,895, which is a significant 85% higher than the state average. When compared to other areas in the state, it ranks as the third most expensive, trailing just behind Pawleys Island and Briarcliffe Acres.

How to get an online home insurance quote in Mt. Pleasant

If you’re looking to get an online home insurance quote, you can follow these five simple steps:

  1. Visit insurance provider websites: Start by visiting the websites of potential providers. Many insurance companies offer online tools that allow you to request a quote directly from their site.
  2. Enter your information: Look for a section on the provider’s website where you can request a home insurance quote. You’ll need to provide personal details like your name, address, and contact information. Additionally, you’ll be asked about your home’s size, construction type, and security features.
  3. Choose your deductible and coverage limits: Decide on the deductible amount that suits your budget. A deductible is what you pay out of pocket before your insurance coverage kicks in. You’ll also need to select coverage limits, which determine the maximum amount the insurance company will pay for different types of claims.
  4. Review and compare quotes: Once you’ve provided all the necessary information, the websites will generate a quote based on your details. Take the time to carefully review and compare the quotes, ensuring they meet your coverage needs.
  5. Contact the insurance provider: If you’re satisfied with a specific quote and provider, you can reach out to them directly for more information or to purchase the policy.

Keep in mind that online quotes are estimates and the final premium may vary after a thorough evaluation by the insurance company.

Factors that impact the cost of your home insurance in Mt. Pleasant

There are several factors to consider that can affect your home insurance rates in Mt. Pleasant. Here are some key points to keep in mind:

  • Location: The location of your home plays a significant role. Mt. Pleasant is prone to certain risks like hurricanes and flooding. Insurance companies take into account the proximity to the coast, elevation, and flood zone classification to assess the risk associated with your property.
  • Construction and age of the home: The type of construction, age, and condition of your home are important factors. Older homes with outdated electrical systems or building materials may impact rates. Newer homes with safety features like fire alarms, sprinkler systems, and sturdy roofs may qualify for discounts.
  • Claims history: Your past claims history and the frequency of claims can affect your insurance rates. Multiple claims in the past may increase premiums as it suggests a higher risk of future claims.
  • Home value and coverage limits: The value of your home and the coverage limits you choose will impact your rates. Higher-value homes generally require more coverage, resulting in higher premiums.
  • Deductible amount: The deductible is the amount you need to pay out of pocket before your insurance coverage kicks in. Opting for a higher deductible can lower your premiums, but it means you’ll have to pay more in the event of a claim.
  • Credit score: In some states, including South Carolina, insurance companies may consider your credit score when determining your rates. A lower credit score may lead to higher premiums.

Keep in mind that insurance rates can vary among different providers. It’s recommended to shop around, compare quotes, and consider multiple factors before making a decision.

South Carolina home insurance laws to know

Here are a few important points about South Carolina home insurance laws:

No legal requirement: South Carolina doesn’t legally require homeowners to have home insurance. However, if you have a mortgage, your lender may mandate homeowners insurance until the mortgage is paid off.

Consumer guide entitlement: South Carolina law grants homeowners the right to receive a consumer guide on homeowner’s insurance from the South Carolina Department of Insurance. This guide 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. The deductible for hurricane or windstorm damage is typically a percentage of the home’s insured value, rather than a fixed dollar amount.

In the news

Based on a report from Island Packet News on May 18th, 2023, homeowner insurance rates in the Hilton Head area have been soaring, leading to higher costs of living and placing financial pressure on buyers. Local insurance agents like Meg O’Toole Herman from Goosehead Insurance in Hilton Head and William Voelkel from Hilton Head Insurance and Brokerage have noticed significant rate hikes ranging from 20% to 70%. They mention that rates are more severe along the coastline but tend to improve as you move further inland.

Information about Mt. Pleasant

Mt. Pleasant, South Carolina, is a charming town situated near the coast, renowned for its picturesque surroundings, rich history, and a host of recreational opportunities. This vibrant community appeals to both residents and visitors alike with its pleasant climate, family-friendly attractions, and an array of dining and shopping choices.

Nestled in Mt. Pleasant is the famous Patriots Point Naval & Maritime Museum, offering captivating views of the harbor and a chance to explore naval history through impressive exhibits and interactive displays. Additionally, the town boasts scenic parks and nature trails, providing ample opportunities for outdoor enthusiasts to enjoy activities like hiking, biking, and birdwatching.

Home insurance discounts in Mt. Pleasant

Here are five common ways to save on your home insurance in Mt. Pleasant:

  1. Bundle and save: If you combine your home insurance with another policy like auto insurance, many insurers will offer you a discount.
  2. Secure your home: Installing security systems such as alarms, smoke detectors, or cameras can lower your insurance premium.
  3. Hurricane protection: If your home has features that make it more resistant to hurricanes, like reinforced windows or a strong roof, you could qualify for a discount.
  4. Stay claim-free: Insurance companies may reward homeowners who haven’t made any claims in a specific period with a discount.
  5. Newer homes: Some insurers offer discounts for newer homes that have updated electrical, plumbing, and structural systems, reducing the likelihood of claims related to these areas.

Keep in mind that each insurance company and policy may have different eligibility requirements and discounts available, so it’s important to shop around and compare options.

FAQs

How much is homeowners insurance in Mt. Pleasant?

When it comes to insuring new homes, the monthly costs can vary significantly, ranging from $631 to $2,707 depending on the insurance company. This highlights the potential savings you can enjoy by using InsuranceWise to compare home insurance options.

Why is homeowners insurance so expensive in Mt. Pleasant?

The cost of home insurance in Mt. Pleasant is higher due to its location near the Atlantic Coast. This puts the area at a greater risk of hurricanes and severe storms, which can lead to increased insurance expenses.

Who is the largest home insurer in Mt. Pleasant?

State Farm is the most popular choice for home insurance in Mt. Pleasant, with the largest market share among insurance providers at 22.54%.

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