A homeowners insurance policy has one main purpose: securing your assets and making you whole after
an insurable occurrence negatively affects your most valuable possession - your South Carolina house. If you are not
familiar enough with your South Carolina homeowners insurance policy, you could be putting your house and assets in
The Basics of Dwelling Coverage
The insurance you have for your home covers the actual structure including any built-in appliances,
wiring and plumbing. It also protects attached garages that share a foundation with your home but does
not insure unattached structures like fences and sheds (these would be encompassed under Other
Your dwelling insurance could cover either replacement costs or actual cash value. While it may appear
that this disparity is negligible, coverage for replacement costs is actually very different from actual cash
value because replacement costs permit the insurer to compensate you the funds you actually need to buy
a like item to replace the one that was missing, damaged or stolen. That means your claim could be equal
to the total needed to restore your house or purchase one that is similar and in a similar location. Actual
cash value, however, gives you the assessed property value regardless of whether or not it is sufficient to
help you restore what you lost.
Personal Property Coverage-Your Home's Contents
Possessions inside your house are protected under the Personal Property/Contents part of your policy.
This section covers all your furniture, clothing, electronics, jewelry, free standing appliances and other
interior contents. The limit of coverage for your personal property must be believable when compared to
your dwelling coverage and most insurers set ratio limits that limits your personal property coverage from
surpassing a proportion of your dwelling ceiling.
Just like your dwelling coverage, your personal property coverage could provide replacement value or
actual value which will subtract the lost, stolen or damaged property’s depreciation from the replacement
value in order to determine the amount of the claim.
Liability Coverage-Covers Others Accidental Injuries
It’s an unfortunate reality, but sometimes people in your home have accidents. They may fall over a loose
walkway stone or trip on your deck, but if they are hurt and want to have their medical fees paid along
with pain and suffering, your liability coverage is there to handle the claim.
Loss of Use Coverage-An Uninhabitable Home
If your house becomes uninhabitable because of a covered claim like a hurricane or fire, then you may not be able to reside in it until renovations are done.
If the loss is an insurable accident, loss of use coverage in your policy will compensate you for any living
expenses that you incur which are above your normal expenses while your home is not livable. In the coastal areas of Charleston, Sullivans Island, Isle of Palms,
Kiawah, Seabrook, Mt Pleasant, James Island and others, you may have an additional policy that just covers windstorm damage. In this case your homeowners policy
will exclude the windstorm coverage and a policy is written with the South Carolina Wind & Hail Underwriting Association. In most areas of Charleston, Mt Pleasant
and Summerville, windstorm will be included in your homeowners policy. Check your policy for this coverage or call an agent at Triest Agency in Charleston or
Mt Pleasant for a free policy review.
Flood and earthquake damage are not included on most homeowners insurance policies. South Carolina is subject to flood and earthquake perils. We strongly recommend your
buying a flood and earthquake insurance policy from Triest Agency in Charleston or Mt Pleasant.