Reason to Buy Homeowners insurance protects you from financial losses caused by storms, fire, theft, and other events outlined in the policy.
Homeowners: Protect both your house and personal property.
Tenants of Rental Properties: Protect your personal property.
All parties: Protection against liability for accidents that injure other people or damage their property.
Finding Homeowners Insurance
Don't give up if a company turns you down. Continue to talk with agents in your area who represent other companies. If you are still unsuccessful in finding homeowners insurance, contact the department's Consumer Services Division by calling 803-737-6180.
How Much Coverage Do You Need
You need enough to cover:
Your Property and Belongings: The better your coverage, the less you will have to pay out of your own pocket if disaster strikes.
Self Protection: You need enough liability coverage to protect yourself from lawsuits resulting from your negligence or events that could occur on your property.
Lender Requirements: Your housing lender will require you to cover the house for the replacement cost of the dwelling.
Policy Requirements: Insurers may impose some coverage requirements for replacement cost protection. Preferred plans usually require policy limits at 100% of replacement cost. Standard plans usually require policy limits of at least 80% of replacement cost.