D Homeowners Insurance                


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What home insurance coverage is best for me and my family?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions.  That's important because chances are your home is one of your largest investments.  Because of the proximity to the coast, Myrtle Beach Homeowners Insurance can be especially important to protect your property against wind damage.

  • If your home was destroyed by fire or damaged by a natural disaster, you would probably need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage would likely pay expenses.
  • If you are a victim of theft or vandalism, it can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance. 

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance.  Ask an agent at Davis Insurance Associates to talk about what is covered and be sure to read your policy so you know exactly what is included and what is not.

Things to consider regarding homeowners insurance in Myrtle Beach.
Here are a few things to discuss with your agent when purchasing insurance for your home.  Because of the enhanced exposure to hurricane or flood damage make sure to thoroughly discuss this when obtaining Myrtle Beach Homeowners Insurance.  It is also important to work with an agent in the coastal area or one that is very familiar with issues involved in coastal property insurance.

  • How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed?  (Although insurance agents are not property appraisers and can not tell you the exact replacement cost, they should be able to talk you through the home's features and the things you own so you can make an informed decision about coverage.)
  • Does the insurance company have a good reputation for customer service?  Is it know for paying claims fairly and promptly?
  • What discounts are available?  (Ask about multiple policy, security system, and fire resistance discounts.)
  • What is the process for filing and settling a claim?  (Ask who to call and what happens after you file a claim.)
  • What other things should I consider when purchasing Home Insurance in Myrtle Beach?  (Ask about the need for flood insurance and make sure your policy includes damage caused by wind & hail.)

Types of Home or Property Insurance

What is Homeowners Insurance?
Homeowners insurance is designed for an owner-occupied dwelling.  The most common form is the HO3, based on the form developed by 
Insurance Services Office (ISO).  A standard Homeowners Insurance policy protects for damages caused to the dwelling, detached structures, contents, and provides loss of use coverage.  It also provides liability and medical coverage.  Your policy can be customized to meet your needs by changing the deductible(s) or adding endorsements.  Endorsements can add, remove, or limit certain coverages.

Most disasters are covered for damage to the dwelling, but there are exceptions. The most significant of these exclusions are damage caused by floods, earthquakes, and poor maintenance.  Earthquake coverage can usually be added to a Homeowners Insurance policy by an endorsement.  Flood coverage is usually purchased as a separate policy.  Visit our Flood Insurance page for more information.  Maintenance related problems are the homeowner's responsibility.

What is Condominium Unit-Owners Insurance?
Also referred to as Condo Insurance or a HO6 policy.  Condo Insurance is very common in Myrtle Beach, because of the vast amount of condominium complexes we have in the area.  Your condo association should have a master insurance policy that provides the first level of protection for damages done to a building or structure within the association.  However, the master policy will not repair or replace certain items inside the individual units such as additions/alterations or contents.  You should review the master policy and association bylaws to become familiar with what you, the condo unit-owner, is responsible for.  In addition, a HO6 policy provides liability and medical coverage. 

What is Renters Insurance?
Renters insurance, or HO4 policy, is designed for a tenant that is renting an apartment, condo unit, townhome, or single family home.  As a tenant you may not be responsible for the building, however you should strongly consider insuring your contents by purchasing a HO4 policy.  Like a HO3 or HO6, the HO4 policy also provides liability and medical coverage.  Maybe more important is that it protects contents against things such as fire, lighting, smoke, explosion, windstorm, hail, falling objects, water damage, as well as any additional perils named in the policy.

What is Rental Dwelling Insurance?
Sometimes called a Landlord policy because it protects the owner, or landlord, against damage to the dwelling.  The most common form is the Dwelling Fire Policy form 3 (DP3).  A standard DP3 policy protects for damage caused to the dwelling, detached structures, contents (not including contents that belong to a tenant), and provides loss of rents coverage.  Like the other policies above, it also provides liability and medical coverage.

Homeowner's Insurance in Myrtle Beach is typically higher in premium than surrounding areas.  So don't leave money on the table by missing discounts.  Below are some common discounts that are available in our Home Insurance products.  Many of these can really add up in savings.

  • Alarm system for fire &/or burglary.  (Most carriers require proof alarm is monitored.)
  • Interior sprinkler system. 
  • Claim free.
  • New construction.
  • Wind mitigation.
  • Multi-line.
  • Gated or secured community.
  • Credit.  (That's right, many carriers now give discounts or surcharges based on the applicant's credit.)
  • Hip roof.
  • Preferred builder.
  • Construction type.

Helpful Links

Insurance Information Institute - Facts + Statistics:  Homeowners and Renters Insurance