South Carolina High Risk Homeowners Insurance

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High Risk Homeowners Insurance In South Carolina

South Carolina is a southeastern U.S. state known for its shoreline of subtropical beaches and marshlike sea islands. It's rich in history, with significant events from the early colonial period, the Revolutionary War, and the Civil War marking its past. South Carolina is geographically diverse, featuring coastal areas, including the Grand Strand, a large stretch of beaches on the East Coast, the rolling hills and mountains in the Upstate, and the Midlands that serve as the agricultural heart of the state. While beautiful, this features can also create higher risks for homeowners insurance claims.

Types of Risks in South Carolina:

Hurricanes and Tropical Storms: South Carolina's coast is prone to hurricanes and tropical storms, particularly from June to November. These events can cause significant wind damage, flooding, and storm surges.

Flooding: Apart from storm-induced flooding, South Carolina also experiences riverine and flash floods, especially in low-lying and poorly drained areas.

Severe Storms and Tornadoes: While not as common as in the Midwest, South Carolina does experience severe storms that can produce damaging winds, hail, and tornadoes.

Earthquakes: Although less known for seismic activity than places like California, South Carolina does have a history of earthquakes. The Charleston area, in particular, is one of the most seismically active regions on the East Coast.

Wildfires: While large-scale wildfires are less common in South Carolina than in the western United States, they do occur and can pose risks to homes, particularly in rural and wooded areas.

Significant Events in the Last 30 Years:

Hurricane Hugo (1989): Although slightly beyond the 30-year mark, Hurricane Hugo was a significant event that still impacts the collective memory of South Carolina. It was a Category 4 storm when it made landfall, causing widespread destruction, particularly in the Charleston area.

Hurricane Matthew (2016): This powerful storm caused significant flooding and damage in South Carolina, particularly in the eastern part of the state.

Thousand-Year Flood (2015): In October 2015, South Carolina experienced historic rainfall amounts, leading to catastrophic flooding across the state, particularly in the Midlands and Lowcountry regions. This event was not related to a hurricane but was a result of a prolonged and intense rainfall event.

Hurricane Florence (2018): Although primarily impacting North Carolina, Hurricane Florence also caused significant flooding and damage in parts of South Carolina, including the Pee Dee region.

These events have led to a large volume of home insurance claims due to property damage from winds, flooding, and other storm-related impacts. Homeowners in South Carolina should consider these risks when purchasing insurance and take appropriate measures to mitigate potential damages, such as flood-proofing homes, installing hurricane shutters, and ensuring proper drainage around properties.
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Unable to Obtain Coverage?

Many consumers opt to allow their mortgage companies to add “force placed” or “lender placed” coverage to their homes. The unfortunate issue is that many times the mortgage companies do not make it clear that typically these policies  do not cover your personal property, loss of use or even your liability. They are typically insurance policies that the consumer pays for, that mostly benefits a bank and not them. It is without a doubt that mortgage forced policies are the lease safe option in the market.

Since FAIR Plans are considered the market of last resort, consumers will be best served when they find an agent with the experience in high risk insurance as well right resources and carriers. Ultimately the end goal is to obtain the right coverage at a competitive price and with the right agent that can be accomplished in almost any situation.
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**The contents of this website are provided for informational purposes only and do not constitute legal or coverage advice or an offer or solicitation for the sale or purchase of insurance. If you submit a request for a quote you will be contacted by a licensed agent who can discuss coverage options with you. Consumers are urged to try to find coverage in the private market and we can help you find an agent that can help you find alternatives to the FAIR Plan and other high risk plans. This website is no way affiliated with or sponsored or endorsed by any federal, state or local governmental agency or state fair plan. Insurance coverage not available in all states. **
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