Home Insurance Calculator
Greenville, SC | Estimate your replacement cost and coverage needs
How Much Home Insurance Do You Need?
Enter your home details below and we'll estimate the replacement cost and minimum coverage to avoid the 80% coinsurance penalty.
Home Details
Check your declarations page for Coverage A (Dwelling) to see if you meet the 80% rule
Frequently Asked Questions
How the 80% Coinsurance Rule Works
Most homeowners insurance policies in South Carolina include an 80% coinsurance clause. Your dwelling coverage (Coverage A) must equal at least 80% of your home's replacement cost, or you'll face a penalty when you file a claim.
Replacement cost is what it would cost to rebuild your home from the ground up at today's prices. It is NOT the same as market value or your purchase price. Construction costs, materials, labor rates, and local building codes all factor in.
The penalty works like this: If your dwelling coverage is below 80% of replacement cost and you file a claim, your insurer divides your actual coverage by the required coverage and only pays that percentage of the loss. You pay the rest out of pocket.
Example: Your home costs $300,000 to rebuild. The 80% minimum is $240,000. If you only carry $180,000 in dwelling coverage and file a $50,000 claim, your insurer calculates $180,000 / $240,000 = 75%. They pay $37,500. You pay $12,500 out of pocket, plus your deductible.
Construction costs in the Greenville, SC area have risen steadily. If your policy hasn't been updated in a few years, your dwelling coverage may no longer meet the 80% threshold. An annual policy review with a local independent agent catches this before it becomes a problem.
The Morgano Agency Inc
206B Pine Knoll Dr, Greenville, SC 29609 | (864) 609-5285