Flood insurance in South Carolina: Average costs & coverage options

Learn about South Carolina flood insurance costs, options, and coverage requirements and get protected today.

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Pat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

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Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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Ian Bloom, CFP®, RLP®Ian Bloom, CFP®, RLP®Certified Financial PlannerIan Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

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South Carolina flood insurance: By the numbers

  • South Carolina has over 316,000 properties with a severe risk of flooding over the next 30 years, yet there are only around 200,000 flood insurance policies in the state.

  • The average cost of flood insurance in South Carolina is $798 per year when purchased through the National Flood Insurance Program (NFIP).

  • But the NFIP’s new method for determining the cost of flood insurance, the average cost of flood insurance in South Carolina will eventually increase to $1,531 per year — a nearly 92% increase over what residents are currently paying.

  • While flood insurance is typically only required by mortgage lenders if you live in a high-risk flood zone, 19% of all NFIP flood damage claims come from homes in areas with a minimal-to-moderate risk of flooding.

Of the over 300,000 properties in South Carolina that have an extreme risk of flood damage, [1] just 35% are protected with flood insurance coverage, and only around 9% of all homes in the state are covered. Homeowners insurance doesn’t typically cover flood damage, so South Carolina residents will want to consider purchasing flood insurance in addition to home insurance — especially considering the state’s high risk of hurricanes and other extreme weather events.

Compare flood insurance rates in South Carolina

Do you need flood insurance in South Carolina?

South Carolina homeowners are not legally required to purchase flood insurance. However, your mortgage lender can require you to purchase this coverage if you live in a high-risk flood zone according to Federal Emergency Management Agency (FEMA) flood maps. But even if flood insurance is not required as part of your mortgage, it might be a good idea to purchase it anyway.

Roughly 90% of natural disasters in the U.S. involve flooding. And consequently, floods happen just about everywhere — 99% of U.S. counties are estimated to have had at least one flood event in recorded history. It’s also estimated that roughly twice as many properties in the U.S. are at risk of flood damage than previously thought. [2]  

Given that around 1 in 5 flood damage claims in South Carolina are made by homeowners in low- to moderate-risk flood areas on FEMA flood maps — not high-risk flood zones — homeowners will want to consider flood insurance regardless of where they live. 

How much is flood insurance in South Carolina?

The average cost of flood insurance in South Carolina is $798 per year or $66 per month through the National Flood Insurance Program, which is about 10% cheaper than the national average of $888 per year. [3] However, your own flood insurance rates may be higher or lower than the South Carolina average depending on your home’s elevation, size, and overall flood risk.

Looking at the average cost of flood insurance for each county in South Carolina, Georgetown County’s $1,257 annual flood insurance premium was the most expensive on average. The county’s almost 4,000 current NFIP policyholders are expected to see their rates jump around $1,400 on average, or 113%, in the coming years under Risk Rating 2.0 — the NFIP’s new rating system.    

On the lower end of the spectrum, Sumter County had the cheapest flood insurance rates in our analysis, with homeowners there paying an average of $599 each year for coverage. Under Risk Rating 2.0, Sumter residents will see their rates go up about 22% in the coming years.

County

Average annual cost

Average risk-based cost

Aiken County

$818

$1,232

Allendale County

$735

$968

Anderson County

$818

$1,232

Bamberg County

$821

$2,093

Barnwell County

$818

$846

Beaufort County

$907

$1,471

Berkeley County

$763

$1,822

Calhoun County

$654

$1,019

Charleston County

$828

$925

Cherokee County

$852

$1,575

Chester County

$779

$1,519

Chesterfield County

$903

$1,584

Clarendon County

$611

$734

Colleton County

$614

$898

Darlington County

$1,003

$2,932

Dillon County

$764

$1,387

District Of Columbia County

$681

$848

Dorchester County

$818

$1,232

Edgefield County

$674

$982

Fairfield County

$795

$3,285

Florence County

$942

$2,012

Fort Bend County

$672

$967

Georgetown County

$818

$1,232

Greenville County

$1,257

$2,680

Greenwood County

$792

$1,540

Hampton County

$804

$1,609

Horry County

$747

$929

Jasper County

$691

$1,096

Kershaw County

$703

$960

Lafourche Parish

$853

$1,375

Lancaster County

$818

$1,232

Laurens County

$752

$2,041

Lee County

$860

$3,046

Lexington County

$615

$777

Marion County

$757

$1,183

Marlboro County

$692

$974

Mccormick County

$1,021

$1,284

Newberry County

$874

$1,398

Oconee County

$870

$1,414

Orangeburg County

$771

$1,667

Pickens County

$723

$938

Richland County

$859

$1,477

Saluda County

$734

$1,160

Spartanburg County

$862

$1,227

Sumter County

$726

$1,698

Union County

$599

$732

Williamsburg County

$818

$1,232

York County

$679

$1,324

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Compare flood insurance rates in South Carolina

Average flood insurance cost in South Carolina by flood zone

Flood insurance rates for a particular property are based primarily on its location and whether it’s in a high-risk flood zone. If you live in a high-risk area, you’ll likely pay more for flood insurance compared to if you lived in a moderate- to low-risk area. 

Here are the average flood insurance rates in areas of South Carolina with a high risk versus a moderate-to-low risk, according to our analysis of NFIP flood insurance data.

South Carolina flood zone

Average annual cost

High risk (A or V)

$1,074

Moderate to low risk (B, C, or X)

$591

How to find out if your home is in a high-risk flood zone

To find out if your current or future home is in a high-risk FEMA flood zone and whether you’ll need to purchase flood insurance, consult the agency’s Flood Map Service Center

But for a more accurate reading into your home’s flood risk both now and in the future, consider using a more advanced flood risk model like Risk Factor — FEMA’s new method for determining the cost of flood insurance.

What does flood insurance cover?

Flood insurance helps cover the cost of flood damage to your home and belongings. That means if your house is damaged due to flooding caused by heavy rainfall, a hurricane, high coastal tides, or any other sources of natural flooding, flood insurance can pay to repair or replace your property. 

A standard flood insurance policy through the NFIP comes with two main coverages that can be purchased together or individually.  

  • Building property coverage: Pays to repair or rebuild your house or garage if they’re damaged in a flood. The maximum building property coverage limit with the NFIP is $250,000, meaning that’s the most the NFIP will reimburse you for repairs, regardless of the damage amount.

  • Personal property coverage: Pays to repair or replace your belongings if they’re damaged in a flood. This includes your furniture, electronics, clothes, and any other items you own. The maximum personal property coverage limit with the NFIP is $100,000.

Each coverage also comes with its own separate out-of-pocket deductible, which is the amount you’re responsible for paying on each claim. Choosing a higher deductible will lower your flood insurance premium, but it will also reduce your claim payment.

Covered by NFIP flood insurance

  • Your home’s structure, including electrical and plumbing systems

  • Built-in appliances like refrigerators and dishwashers

  • Personal belongings like clothing, furniture, and electronics

  • Expensive valuables (up to $2,500)

  • Detached garages 

  • Debris removal

Not covered by NFIP flood insurance

  • Home or personal property damage caused by mold, mildew, or moisture

  • Currency, precious metals, and valuable papers

  • Belongings outside of your home, such as trees, plants, decks, hot tubs, etc

  • Any belongings in your basement

Flood insurance helps fill an important coverage gap

Most homeowners insurance policies do not cover water damage caused by flooding, so if you live in a flood-prone area of South Carolina, you should consider purchasing flood insurance.

Compare flood insurance rates in South Carolina

How to get flood insurance in South Carolina

To get flood insurance, you can go one of two routes: 

  • NFIP flood insurance policy: Backed by the federal government and sold by insurance companies

  • Private flood insurance: Backed and sold by private insurers, it provides superior and often cheaper coverage compared to the NFIP plan

In order to purchase flood insurance through the NFIP, you need to live in a participating community. Fortunately, 89% of all communities in South Carolina participate in the program. And if you live in one of the 29 communities that doesn't offer NFIP coverage, you may still be able to purchase private flood insurance.

Private flood insurance policies typically come with higher coverage limits for your home and personal belongings if they’re damaged by flooding. Additionally, they often include coverages and other benefits that aren’t available in the NFIP plan. This includes loss of use coverage to help cover the cost of lodging or restaurant meals in the event your house is badly damaged and you’re forced to evacuate, or replacement cost coverage for your personal belongings. 

Here’s a look at what South Carolina residents can expect with NFIP and private flood insurance.

NFIP flood insurance

Private flood insurance

Building property coverage

Max of $250,000

Up to $15 million depending on the company

Personal property coverage

Max of $100,000

Up to $1 million depending on the company

Additional living expenses

Not included

Often included

Basement contents

Limited to wall fixtures, air conditioners, washer/dryers

Often covered

Deductible

$1,000 to $10,000

$1,000 to $50,000

Waiting period

30 days

As little as 0 to 10 days

Accepted by mortgages

Yes

Yes

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How to save money on flood insurance in South Carolina

There are several steps that South Carolina homeowners can take to mitigate the risk of flood damage to their home while also lowering their flood insurance rates. Here are the most effective ways to reduce the cost of flood insurance, according to FEMA.

  • Flood-proof your home. Elevating your home, moving water heaters and other home systems to higher ground, filling in basements and crawl spaces, and installing flood openings or barriers in your home can all lead to lower flood insurance rates. 

  • Increase your policy deductible. Setting your deductible at the $10,000 maximum can reduce your rates by as much as 40%, according to FEMA. Before increasing your deductible, make sure it’s set to an amount you can afford to pay out of pocket.  

  • Take advantage of community-wide discounts. If your community is enrolled in the NFIP’s Community Rating System, you’re eligible for a discount of anywhere from 5% to 45%. You can visit FEMA’s Community Rating System page to see if your community participates. 

  • Use an elevation certificate. An elevation certificate (EC) is a document that details your home’s flood risk. If you have an EC and it can prove that your home is above the Base Flood Elevation in your community, that could help lower your rates.

South Carolina flood insurance companies

Whether you’re interested in purchasing both your home and flood insurance through the same company or mix and match with different companies, here are the providers you’ll need to go to for NFIP flood insurance.

NFIP flood insurance providers in South Carolina

The following 25 companies are approved to sell NFIP flood insurance policies to customers in South Carolina. 

Curious how private flood insurance options stack up to the competition? Compare quotes with Policygenius and we’ll do our best to find you the cheapest and best flood insurance coverage for your home — whether through the NFIP or a private flood insurer.

Compare flood insurance rates in South Carolina

References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.

  1. Risk Factor

    . "

    Does South Carolina have Flood Risk?

    ." Accessed December 06, 2023.

  2. The New York Times

    . "

    New Data Reveals Hidden Flood Risk Across America

    ." Accessed December 06, 2023.

  3. Federal Emergency Management Agency

    . "

    Flood Insurance Data and Analytics

    ." Accessed December 06, 2023.

Author

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

Editor

Jennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Expert reviewer

Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

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