Best Homeowners Insurance Agencies in Charleston

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• What are the questions that you can ask your insurance agent before you purchase homeowners' insurance in Charleston?

  Before purchasing homeowners' insurance in Charleston, you can ask your agent questions to ensure you receive the offer that suits your needs. These questions can be:

  • What special offers are there?
  • What steps are involved in submitting and resolving a claim?
  • How much would it cost to rebuild my home and replace any damaged or lost possessions?

• What are the common mistakes that Charleston homeowners insurance policyholders commit?

  Homeowners' insurance policyholders in Charleston often make mistakes while putting their policies together, such as purchasing standard coverage and expecting it to protect them from any conceivable property loss. Another mistake that policyholders make is waiting too long to file an insurance claim and failing to notify their insurer of changes to their home, both of which can result in a future lack of coverage.

• What are the additional coverages that you should consider when reviewing your home insurance options in Charleston?

  The best way to make the most of your homeowners' insurance in Charleston is to customize it to fit your needs. While reviewing your options, you should consider certain coverages that you can add to your policy, such as flood, fire, property damage, personal belongings, personal liability, and medical expenses coverage. Additionally, think about adding coverage for off-premises theft and additional living expenses.

• Why is your home in Charleston insured more than its market value?

  In Charleston and throughout South Carolina, your property is often insured for more than its market value because insurance only takes into account the cost to repair or rebuild your home. Even though market prices can rise or fall, the cost of reconstruction will remain constant or even go up.

• What is the first thing that you should do if your home in Charleston just suffered a loss?

  If your property in Charleston has just experienced a loss, call the agency or your agent and inform them about what happened. However, confirm first that your insurance will cover your loss before taking this action. Ensure that your homeowners' insurance covers events such as fire, flood, or earthquake damage to your property.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.