South Carolina landlord insurance

Get a quote on customized coverage for your rental properties in the Palmetto State.

As a South Carolina landlord, you need coverage beyond what your typical homeowners policy provides. That usually means getting landlord insurance, which provides:

Dwelling coverage for physical damage to your home's structure.
Personal property coverage for any of your belongings that remain at your investment property.
Liability coverage to protect you if someone gets hurt on the property.
Loss of use coverage to help when your property is made uninhabitable by a covered loss.

All of these coverages are available in House & Property insurance. This insurance product, designed especially for homeowners and landlords, can also be customized to protect no matter how you use your home.

What does South Carolina landlord insurance cover?

When you buy a House & Property policy for your South Carolina rental property, you get the same coverage you find in a DP3 policy, including protection for:

The dwelling.
Other structures, like garages or fences.
Any of your belongings that remain in the home.
Loss of rental income if covered damage makes the home uninhabitable.

House & Property insurance also provides limited coverage for cosmetic damage to floors.

Landlords who also live in the home they rent out can add an owner-occupied endorsement to their House & Property policies. The changes the policy so it provides coverage like what you’d find in standard homeowners insurance.

What's not covered by landlord insurance in South Carolina?

House & Property policies offer open perils coverage. This means that structural damage to your home can be covered after events except those listed as exclusions in your policy.

Your policy will specifically outline the types of claims that aren’t covered, which likely includes the following perils:

Earth movement
Governmental action
Illegal, dishonest, or intentional acts
Neglect
Nuclear hazard
Power failure
War or military acts

IMPORTANT: South Carolina landlord insurance doesn’t cover tenants’ belongings. It also excludes coverage for regular maintenance costs or damage caused by normal wear and tear.

House & Property insurance: Eligible homes

One- to four-family homes used for residential purposes (including condos and townhomes).
Modular homes built to comply with all applicable state and local building codes.
Owner-occupied properties with an endorsement.
Non-owner-occupied properties.

House & Property insurance: Ineligible homes

Mobile homes
Manufactured homes
Motor homes
Houseboats
House trailers
Trailer homes

How can House & Property insurance help South Carolina landlords?

Protecting your rental property in South Carolina with House & Property insurance makes good sense because it can:

Provide financial protection against unexpected property damage.
Help cover legal expenses if someone gets injured on your property.
Cover the common types of property damage, like fire and water damage.
Be customized for the features of your property and how it is used.

These are all important protections that landlords need.

Landlord insurance is just one of the many responsibilities you take on when you decide to rent out a home that you own. Get more information in our article 15 tips for first-time landlords.

How much does landlord insurance cost in South Carolina?

The Insurance Information Institute found that landlord insurance can cost about 25% more than standard homeowners insurance. Why? Landlords typically face more risks and are more likely to file an insurance claim.

In South Carolina, landlord insurance may cost more on average than in many other states because of the increased risk of hurricanes and other damaging storms.

What factors impact the cost of landlord insurance?

South Carolina landlord insurance premiums are based on the type of rental property you have and the property's risk factors. These can include characteristics like:

The size of your property.
The age and construction of the building.
The weather and crime risks in your city.
The type of building and/or number of rental units.
The presence of a swimming pool or any other attractive nuisance.
The deductibles and coverage limits included in your policy.

South Carolina, like other states in the southeastern U.S., has a higher risk for tropical storms and hurricanes. It’s important to know that in these areas, your roof's condition can mean higher landlord insurance premiums. If your property has an older roof, you’ll likely have higher landlord insurance premiums. This also applies to properties with older siding, pipes, and HVAC systems.

Tips for saving on your landlord insurance

Having gated access, fire sprinklers, burglar alarms, or other security systems may mean you qualify for a discount on your landlord insurance in South Carolina.

You might also be eligible for a discount if you:

Add wind mitigation features.
Install security systems
Have no previous claims.

Increasing your deductible is also a good way to save on your landlord coverage. There are three types of deductibles included in our South Carolina House & Property policies:

A standard deductible. Also called an “all other perils” deductible, it applies to the majority of claims.
A hurricane deductible. This deductible applies to damage caused by named storm.
A wind/hail deductible. Sometimes called a severe convective storm deductible, this applies to damage caused by un-named windstorms.

The policies available in South Carolina have standard deductible options of:

$500
$1,000
$2,500
$5,000
$7,500
$10,000

Hurricane and wind / hail deductibles have the same flat-rate options, but you can also choose a deductible that’s a percentage of your dwelling coverage. Whatever amount you choose, you want to pick a deductible you can afford to pay even after a catastrophe.