South Carolina Flood Insurance

Find the Best Flood Insurance Rates and Companies in South Carolina

Because many homes and businesses in South Carolina are located in designated floodplains, their owners are required to carry flood insurance. Whether or not you live in a designated flood zone, as a South Carolina resident, you run the risk of financial losses due to flood damage. Fortunately, you can protect yourself with a South Carolina flood insurance policy.

A South Carolina independent insurance agent can review flood zone maps with you and answer your questions, as well as help you secure a flood insurance policy. They know which type of coverage is needed for your unique property. But first, here's an overview of South Carolina flood insurance.

The Best Flood Insurance Companies in South Carolina

If you're a South Carolina resident, you can get flood insurance coverage that's backed and regulated by the federal government through the NFIP. The NFIP is part of the Federal Emergency Management Agency (FEMA). Its flood insurance policies are sold by traditional insurance companies. 

However, the NFIP's mandated coverage limits for individuals are capped at $250,000 for buildings coverage and $100,000 for personal property coverage. You can also opt for private flood insurance, which offers higher coverage limits and additional protections not provided by the NFIP, including loss of use coverage and replacement cost coverage. 

Here are some of the best flood insurance companies in South Carolina:

• REInsure Pro
• Berkshire Hathaway
• Chubb
• Hiscox
• Zurich
• Private Market Flood
• Neptune Flood

A South Carolina independent insurance agent can help you find flood insurance coverage through one of these local carriers.

Is Flood Insurance Required in South Carolina?

If your home is located in a designated flood zone, your mortgage lender may be required by law to ensure your property is protected by a flood insurance policy. Once your mortgage is paid off, you're no longer required to carry this coverage, but given your high potential for costly flood damage, you'd be strongly advised to continue to carry a policy.

However, just because you don't live in a designated flood zone doesn't mean you're not at risk. When heavy downpours from tropical storms saturate the ground, water and sewage line back-ups can cause flooding throughout the state. It's often better to be prepared than face potential financial hardships that flood damage can bring.

What Does Flood Insurance Cover in South Carolina?

Flood insurance in South Carolina offers two types of coverage: one for the structure of the building itself and another for its contents. You can opt to purchase only one type of coverage, though most homeowners purchase both.

• Buildings coverage: Provides coverage for damages to structural elements of the building and its foundation, plumbing, and electrical systems, furnaces and air conditioning units, built-in appliances, and permanently installed carpeting over unfinished floors. Coverage can be used to protect:
  • The building’s foundation
  • Plumbing and electrical systems
  • Heating and air conditioning units (excluding portable units)
  • Built-in appliances
  • Permanently installed carpeting over unfinished floors
• Contents coverage: Provides coverage for loss or damage to your personal property or belongings like clothing, furniture, curtains, electronics, window air-conditioners, portable appliances, or anything that was kept above-ground in your home. Flood insurance will not cover contents stored in a basement. Coverage can be used to protect:
  • Furnishings, artwork, and other décor
  • Clothing, jewelry, and other accessories
  • Electronics
  • Window unit air conditioners
  • Portable appliances
  • Merchandise and inventory (for businesses)
  • Carpeting and flooring installed over finished floors

Your South Carolina independent insurance agent can help you get equipped with the right amount of each type of flood insurance you need.

What Does Flood Insurance Not Cover in South Carolina?

South Carolina flood insurance won't cover damage caused to the home by mold, mildew, or moisture that the homeowner could have prevented. Certain valuable types of property, like important papers, precious metals, and currency, are also not covered by flood insurance. 

Additionally, some kinds of property found outside the home, including decks and hot tubs, are excluded from coverage. Finally, landscaping and contents kept in your home's basement are excluded from flood insurance coverage. Your South Carolina independent insurance agent can help you review your specific flood insurance policy's coverage exclusions. 

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How Much Does Flood Insurance Cost in South Carolina?

Flood insurance rates in South Carolina average $707 annually, or approximately $59 monthly. This rate is actually cheaper than the current national average of $899 per year, or approximately $75 per month. 

Local flood insurance rates are set by FEMA and the NFIP using the South Carolina flood insurance rate map. In addition, South Carolina flood insurance rates can be affected by the age of your home, the types and amounts of coverage you need, and the deductible amount you select. 

Though higher deductibles can lead to lower monthly or annual premiums, keep in mind that you'd have to pay more out of your own pocket if you had to file a claim. A South Carolina independent insurance agent can help you save as much money as possible on flood insurance near you.

South Carolina Flood Zones

With FEMA's official website, you can find your South Carolina flood risk assessment. Additionally, all of the following comprehensive and user-friendly documents are available on FEMA's website:

• South Carolina flood zone maps
• Charleston, South Carolina flood maps
• South Carolina flood zone map PDFS
• South Carolina flood plain maps

Your flood zone designation in South Carolina can also impact the cost of your flood coverage. Your independent insurance agent can help you find the most affordable South Carolina flood insurance near you. 

The Best Flood Insurance Discounts in South Carolina

In South Carolina, you can get flood insurance discounts from either private flood insurance carriers or from FEMA's NFIP. 

• Private flood insurance companies in South Carolina: Several flood insurance discounts are available from many private carriers, such as savings for properties with flood-proofing measures and those built on stilts. 
• FEMA and the NFIP: Flood insurance discounts are often available for newly mapped properties and for those in communities that participate in the Community Rating System. These discounts range from 5% to 45% and are set according to a property's classification.

Work with an independent insurance agent to find all the savings possible on South Carolina flood insurance.

How to Apply for Flood Insurance in South Carolina

You can buy flood insurance coverage in South Carolina in the following ways:

1. Through FEMA's National Flood Insurance Program (NFIP)
2. Through private flood insurance companies in South Carolina
3. By working with a local independent insurance agent in South Carolina

Option three can be the easiest way to find the best flood insurance. Independent insurance agents have access to multiple flood insurance companies in South Carolina, so they can shop and compare quotes and policy options for you to find the best deal.

How to File a Flood Insurance Claim in South Carolina

Filing a flood insurance claim in South Carolina can be done in just four simple steps:

• Step 1: Make a call: Gather your insurance information and then contact your independent insurance agent or flood insurance carrier to report your claim. 
• Step 2: Prepare evidence: Take photo and video evidence of any property damage and prepare a written report for your insurance company. Wait until officials declare your property is safe for reentry after the flood before you begin.
• Step 3: Meet with a claims adjuster: Your insurance company will schedule an in-person home inspection with a claims adjuster. The claims adjuster will assess the property damage and may be able to provide you with an estimate for reimbursement during their visit. 
• Step 4: Claim your payout: Finally, you'll receive your payment via either direct deposit or a check in the mail. Your coverage terms and the amount of the property damage will determine how much you receive. 

Make the claims process as simple as possible by filing with your independent insurance agent. They can contact your carrier for you and keep you updated throughout the entire claims process. 

FAQs About South Carolina Flood Insurance