Fort Mill, SC Homeowners Insurance Rate Quotes!
In the great city of Fort Mill there are 153,154 people living in a variety of different property types. Some of you in Fort Mill are building your first single-family home. While others are looking for affordable home insurance quotes on your existing home or condo. While there are about 8,377 homes in the Fort Mill area, many of the ones that are currently occupied are in need of lower rates and better home insurance coverage. In the majority of these Fort Mill neighborhoods, the average family size is around 3 residents per house.
In Fort Mill, the average income per household is around $97,642. While this is a fairly high number, it is slightly below the national median. Luckily, the cost of owning a home in Fort Mill is fairly cheap, the average home price on the real estate market today is $310,371. Many residents living in Fort Mill like to use our online home insurance shopping service to get upfront rates before buying there first home. If you are shopping for a house, simply use our online quoting application to compare multiple rates for each "dream" house on your list. Our free consultation process helps you quickly review the best carrier and premium so you know the exact cost of home insurance. Some carriers are competitive in different areas, so if you are thinking about certain zip codes in Fort Mill, we help you decide which home will have the most affordable rates.
Home Insurance In Fort Mill Is Lower Than Expected - Review Averages!
With the local real estate market booming, what better way to shop rates and coverages than with us at GetHomeInsuranceQuotes.com of Fort Mill. Average rates are around $1,066 per year. You can get rates as low as $816 per year. Larger homes in this area pay around $1,366 per year due to higher replacement cost coverage also known as dwelling coverage. This helps cover your expenses if you ever need to rely on your insurance company to replace or rebuild your home. This compares very favorably with the national average, which is $1,311 according to the latest data.
South Carolina is now ranked number 18 in the United States for annual home insurance rates.
When it comes to South Carolina home insurance, there are a variety of different policy types and each one is written for a certain type of home, condo or apartment. Having the right policy type is key to protecting your most valuable investment, your home.
Here is some information about the most common home insurance types in Fort Mill:
| Type | Description |
|---|---|
| HO-3 | The HO-3 is the most common type of home insurance coverage. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded within the policy. Damages that are caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well. Make sure you ask the right questions and take the time to review your policy so you know what is covered. |
| HO-6 | Condos are a very popular housing option in Fort Mill. In addition to condos, it also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own. |
| HO-8 | Fort Mill is lucky to have a fair number of historical homes and if you own one, you may need a HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils. |
| HO-4 | This policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment. |
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Fort Mill, SC Insurance Quotes & Service
With over 20 years of South Carolina homeowners insurance coverage and quoting experience, we enjoy helping customer find the best price and coverage options for your home in Fort Mill, SC. Our new carrier platform includes quick rates from the very best insurance companies, like Liberty Mutual, Safeco Insurance, Tower Hill, ShoreOne, Kind Group Underwriting, AIG, Chubb, Travelers, National General, Heritage Insurance and the South Carolina Wind and Hail Underwriting Association for wind and hail insurance policies. Getting the best insurance rates with the right insurance company is key to protecing your Fort Mill home. Let us help you shop the best rates and coverages today!
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Average Rates Nearby Fort Mill
Are you looking for homeowners insurance in a city near Fort Mill? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Fort Mill, SC
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Fort Mill.
Fort Mill, SC Home Insurance Average Premiums
$816 /yr.
For the city of Fort Mill, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $816 /yr. |
| Average Coverage: | $1066 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1366 /yr. |
What is the average home insurance cost for a home in Fort Mill, SC?
- • The average homeowners insurance premium paid annually for a home in Fort Mill is around $1066 per year.
What does it cost on average per month for home insurance in Fort Mill, SC?
- • Homeowners in Fort Mill pay an average cost per month around $89.00 for insurance coverage.
Fort Mill, SC - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $470,767 | $427,672 |
| February | $470,065 | $435,216 |
| March | $470,525 | $443,554 |
| April | $470,342 | $452,631 |
Homeowners insurance will help cover the cost to repair or replace your Fort Mill home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Fort Mill
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Fort Mill, SC homeowners insurance rates all in one place! |
Saving Money Tips on Fort Mill Home Insurance
A great way to save money on Fort Mill homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Fort Mill area? Check out what homeowners are paying on average for South Carolina homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 639 ft. | This is the average home elevation in Fort Mill, SC | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local South Carolina flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Fort Mill, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in York County.
South Carolina Homeowners Insurance News & Information
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Coastal South Carolina Home Insurance Rates Posted on Saturday 30th December, 2023
South Carolina is an amazing place to call home. It is overflowing with world-class cities, beautiful beaches, museums, and restaurants. It is truly a wonderful place to live. Unfortunately, some of our beautiful coastal cities, Myrtle Beach, Charleston and Hilton Head as an example come with some pretty high homeowners insurance premiums if you live […]
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Will my home insurance cover roof replacement? Posted on Saturday 24th December, 2022
The answer to the question “does insurance cover roof replacement,” is not always clear cut. In most cases, it will depend on the reason that your roof needs to be replaced. If your roof has simply reached the end of its life, the cost to replace it will fall to you. On the other hand, […]
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Am I underinsured for hurricane damage? Posted on Thursday 26th August, 2021
Tropical Storm Henri hit the Northeast pretty hard over the last week and for many homeowners the pain caused by the storm could just be getting started. Unfortunately, many homeowners may be underinsured or not have the right coverage in place when it comes to tropical storm and hurricane damage. A recent study by Policygenius […]
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What can increase the cost of your homeowners insurance? Posted on Wednesday 28th October, 2020
If you are in the market for a house, the cost of homeowners insurance is probably not your number one priority but some homes come with risks that could dramatically up the cost of insuring your new home. Knowing what risks can be an insurance issue with a home can help you save not only […]
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Hurricane Isaias is on the same track as Hurricane Dorian – What can we expect? Posted on Wednesday 5th August, 2020
Hurricane Isaias is on roughly the same track as Hurricane Dorian and is the first hurricane to hit the Bahamas since Dorian stalled over the islands as a Category 5 monster killing dozens of people and causing massive destruction. Here is a quick overview of both storms as well as a few tips on how […]
Fort Mill, SC Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Fort Mill so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Fort Mill, SC?
- The average square footage in Fort Mill is around 2,369 Sq. Ft. which would cost you around $310,371 to replace the home if you base the home on the price to build per square foot of $131.
Minimum Replacement Cost Total: $310,371
Location: Fort Mill, South Carolina (York County)
Average Building Cost Per Square Foot in Fort Mill: $131 (low end)
Average Square Footage in Fort Mill: 2,369 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $131 | $310,371 |
| Some Additional Upgrades | $164 | $387,964 |
| Major Home Updates or Advancements | $197 | $465,557 |
The dwelling coverage is calculated by the average cost per square foot ($131) in Fort Mill, South Carolina times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $409,375 (Media price to build of $164 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.