Dear Clients, Friends and Fellow Associates~

The other day a client that was considering a villa purchase and heard that insurance was expensive in this area.  He was from an area that offered lower insurance rates, but higher taxes(Long Island).  As we compared our rates and taxes to his taxes and rates we found that ours were lower.  However when we compared lifestyles and temperatures on Hilton Head Island to Long Island we come out way ahead. 

A Newbies guide to Insurance coverage on Hilton Head Island:

Insurance for Villas on Hilton Head

When you purchase a villa or condo the Insurance for the structure is typically billed by the regime fee.  The regime fee usually covers part of the insurance costs for the year and as insurance is billed annually, the regime will bill the owner for any shortfalls.  A policy every owner should get on their condo or villa is for contents and liability.  These policies are typically under $1,000 per year.

The three parts of Insuring a home in the Low Country. 
  1. The first part is your homeowners coverage.  Your Homeowners Policy will cover your home for losses due to fire, lightning, water pipe leaks, as well as liability, in case someone is hurt on your property.
  2. The second part of the Insurance is the wind coverage. This is issued through the SC Wind & Hail Association. Typically we see homes listed with a 3% deductible. To explain what that means – if you have damage caused by a regular wind storm, the deductible is 1% of the home value. If you have damage done by a “named storm” or hurricane the deductible is 3%.
  3. The third part of the Insurance is flood coverage. This  will be offered through the Federal Flood Program. The maximum coverage is 250,000 on the dwelling and 100,000 contents. This is a Preferred Flood Program and those are the set limits.

If you have any questions regarding insurance or wish to shop your current programs we have listed three agents and the companies they work for:

Insurance agents on the Hilton Head Island

Jeff Althoff, Agent
Beaufort County Farm Bureau
PO Box 4488
Beaufort, SC 29903
Ph:   843-522-0031 Ext. 234
Cell: 843-812-2921
Fax: 843-522-0785
jeffalthoff@scfbins.com

Teena Farrell, CISR
Agent/Broker
Seacoast Insurance
843-341-1676
tfarrell@seacoastinsurance.com

Don Earnhart
Kinghorn Insurance
1160 Fording Island Road (Hwy 278)
Bluffton, SC, 29910
843-837-8000
Dearnhardt@kinghorninsurance.com

If you need a home or villa, right now the pickings have never been better.  If you cannot find it in this market you will never find it.  Please visit www.robbiebunting.com for home, villas, lots and visual tours!

Happy insuring…

Robbie Bunting & Jane Hyers

800-932-3652

robbie@robbiebunting.com

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