Coastal South Carolina homeowners could face some of the steepest home-insurance increases in the country over the next decade.
A new report from the Coalition for an Insurable Future and Mandala Partners projects that South Carolina homeowners could see premiums rise between 60% and 203% within 10 years, according to Myrtle Beach Online.
The report ranks South Carolina behind only Louisiana for projected insurance increases tied to climate risk.
For homeowners, the pressure could show up in mortgage escrow payments, renewal bills, buying decisions, and the long-term cost of keeping a coastal property insured.
Coastal Counties Face the Highest Pressure
The report says South Carolina’s coastal counties are among the areas facing the steepest projected increases.
In a medium climate-risk scenario cited by Myrtle Beach Online, Beaufort County could see a 233% increase, Jasper County 213%, and Georgetown County 199%. Horry County, which includes Myrtle Beach and many Grand Strand communities, is projected at 90%, or about $2,400.
Flooding and Storm Risk Are Driving the Concern
South Carolina’s coast already faces hurricane risk, heavy-rain flooding, high winds, beach erosion, storm surge, and tidal flooding.
The insurance report says climate-related losses are putting more pressure on the home-insurance market. Nationally, homeowners insurance premiums have increased 38% since 2021, outpacing inflation and wage growth.
Home Resilience Can Affect Long-Term Cost
Chloe Demrovsky, a Coalition for an Insurable Future member, told Myrtle Beach Online that home resilience is a major part of the risk.
For buyers and current owners, the concern is whether a property can withstand repeated storm exposure. Roof age, elevation, drainage, building-code strength, flood history, and wind protection can all affect whether a lower purchase price turns into higher ownership costs later.
Insurance Should Be Checked Before Renewal
The report does not mean every homeowner will see the same increase, but it shows why coastal insurance can no longer be treated as a routine annual bill.
Before buying, renewing, or renovating, homeowners should review deductibles, exclusions, roof condition, wind mitigation, flood-zone status, and whether a separate flood policy is needed. In coastal South Carolina and other storm-exposed markets, affordability may increasingly depend on both the price of the home and the risk insurers see in the property.