Answers to Frequently Asked South Carolina Insurance Questions

With more than 50 years of providing property and auto insurance policies to our South Carolina community, Farm Bureau Insurance agents have been asked many South Carolina insurance questions. To help un-complicate the complicated world of insurance, we have provided answers to some of these questions.

Do I have to buy auto insurance?

Yes. All states have financial responsibility laws. This means that either you must purchase a minimum amount of liability insurance or prove that you have set aside enough money to pay for the damage you may cause in an accident.

How much will my insurance cost?

Premiums, or the amount you pay for insurance, can vary widely. The type of car you drive, your driving record, your age, your sex, where you live, and how much you drive usually affect the cost. Speak with a Farm Bureau Insurance agent to get a no-obligation quote for South Carolina car insurance.

I have a homeowner's policy. Is my home covered for damages caused by high winds or tornadoes?

Most homeowner's policies cover damages to the dwellings caused by tornadoes or other wind damage. Our homeowner's policy covers your dwelling and personal items inside the home. The homeowner policy also covers storage buildings and other outside structures on the insured premises including personal items inside the building. Be sure to speak with your Farm Bureau Insurance agent to know what your specific policy covers.

Will the damages caused to my home by flood or rising water be covered under my homeowner policy?

Most homeowner and fire policies with extended coverage will not cover flood damages or claims resulting from rising water. Generally, you would need a flood insurance policy from the National Flood Insurance Plan to have protection for this type of loss.

If I do not have a mortgage on my home, why do I need homeowner's insurance?

Homeowner's insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. So, even if you don't owe money on your home, if you suffer loss, you will still be able to recoup the value of your home (as covered in your policy) and be able to repair or rebuild your home as needed. Homeowner's insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people.

Why would I need life insurance?

In addition to protecting your family's financial security after you die, life insurance may also be beneficial to you while you are still alive. Some life insurance policies are designed to let you use some of the money in your cash value account to pay expenses or to supplement your retirement income. Some life insurance policies also have tax advantages.

Can't I just get health insurance through my work?

Yes, if you have a job that offers health insurance, you would probably benefit from getting your health insurance through group coverage at your place of employment. However, if you are a part-time worker, self-employed, a contractor, or between jobs, you probably do not have access to group coverage, so you might need individual health insurance coverage.

Also, group coverage may have limits and you might be interested in supplementing your current health insurance policy with cancer insurance, disability insurance, or a long-term care policy.

Why do you offer earthquake insurance in South Carolina?

Although there hasn't been a powerful earthquake in South Carolina since 1913, the state has numerous fault lines that run through South Carolina with the potential to produce a massive earthquake. In fact, the Charleston Earthquake of 1886 was estimated to be between 6.6 and 7.3 on the Richter scale and causing millions of dollars in damage and the loss of 60 lives.

If a similar quake would hit the region today, property loss is estimated to be in the billions. Because of the potential threat that another earthquake could potentially hit the state, Farm Bureau Insurance offers the option to add an earthquake endorsement to your South Carolina homeowner's insurance.

Get Your South Carolina Insurance Questions Answered

If you have additional questions about the South Carolina insurance policies we offer, our claims process, or our company's involvement in your local community, contact a local Farm Bureau Insurance agent today. We would also be happy to help you file an insurance claim or get a policy quote.