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Old 07-19-2007, 06:56 PM
 
Location: Indianapolis
1 posts, read 5,266 times
Reputation: 12

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I am relocating to the Charleston area and I am seriously considering moving to James Island. One of my concerns is the cost of homeowners insurance. I called my current provider (Liberty Mutual) and they said they won't touch a property unless it is 10-15 miles from the rivers or ocean which can't be found in Charleston. I called Allstate and they said the same thing.

What rates can I expect to pay? I don't care what you are paying if you have had your policy pre-katrina. That has changed everything and now only high risk providers sell in coastal areas I believe.

The cost of my home will probably be $200k to $250k if that helps in your wild predictions.

Thanks yall!
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Old 07-20-2007, 08:47 AM
 
8 posts, read 40,985 times
Reputation: 12
Default Insurance

Best way is to call a couple of local Insurance agents and get quotes. We were looking for a home in Mt. Pleasant and got scared away by the higher insurance quotes. We pay about $1,200 in NJ and got quotes of between $6,000 and $7,000 for about the same value house because of the proximity to the water.

We're now looking up towards Summerville and have gotten much lower quotes for Insurance. Really loved the Mt. Pleasant area though.
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Old 07-20-2007, 09:32 AM
 
Location: Mount Pleasant South Carolina
1,125 posts, read 3,379,723 times
Reputation: 239
Default Home Insurance Rates

Home insurance certainly is higher in Mt. Pleasant than in other areas of Charleston, such as Summerville. The $6000-$7000 insurance quote mentioned by jhone for a home in Mt. Pleasant may be on the high side dependent upon the value of the home under consideration. Insurance rates are all over the board. I recently sold a home in Seaside Farms, a nice community close to the Isle of Palms (Beachfront community) for $925,000. The buyers were able to place home owners and flood insurance on the home for about $6500, with a large percentage of the cost for the flood insurance policy because the home was in a relatively high flood zone area. They had been quoted over $10,000 by some companies. Keep in mind that the $6500 insurance costs were for a $925,000 home. I would be surprised that insurance on a $925,000 home in New Jersey would cost $1200. I would also suspect that taxes on a $925,000 home in New Jersey would quite a bit more than taxes on a $925,000 home in Mt. Pleasant.
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