Home insurance is critical for homeowners, especially in Charleston, SC where we tend to really need it from time to time! The right coverage protects you from unexpected damage due to fire, wind, flood, and more. Unfortunately, the cost of these policies can be very expensive and over the past few years, some premiums have doubled or even tripled as more natural disasters hit the country. The SC Low Country is no stranger to some of these events like tropical cyclones even earthquakes. Fortunately, there are a few ideas on how to save money on premiums. Here are 7 possible ideas to save money on your home insurance in Charleston.

  1. Bundle Policies – The easiest way to save money is to use the same company for both auto and home. Most companies offer significant discounts for doing all your business with them.
  2. Increase Deductibles – Raising your deductible on all policies, even just a little can save money overall. Consider how much you are able to spend before relying on insurance and see how much you can save. Keep in mind that you want to ensure that you have enough coverage. 
  3. Home Security Systems – Most companies offer a nice discount for home security, plus you have the added benefit of greater safety for you and your family.
  4. Good Credit – A higher credit score will likely give you a lower premium. Be sure to ask your insurance company to review your score at each renewal period.
  5. Review Coverage – Do you have health insurance at work? Then maybe you don’t need medical coverage through your auto policy? Review your policies and make sure you need everything you’re paying for and always seek the advice of your insurance agent. This also includes a flood insurance policy, which is applicable for most of Charleston. Private flood insurance makes up large portion of the market and can potentially save you money. 
  6. Claim Free – Insurance is there to use, but you may not want to use it for everything. If you have a $1000 deductible, for instance, it does not make sense to submit a claim for damage that totals $1150. Staying claim-free saves money.
  7. Shop around. At each renewal period, take the time to compare leading companies and make changes when necessary. Switching companies is very easy and can save you hundreds of dollars. We are happy to recommend top notch, expert insurance advisors who specialize in finding the best insurance policy for your property along the SC coast and the Charleston area. Reach out to us so that we can connect you with the right insurance advisor!

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.