Have you ever compared notes with your neighbor and found out they’re paying way less for home insurance than you? It’s a common question we hear from homeowners in Myrtle Beach, Surfside, Conway, and all along the Grand Strand:
“Why is my premium higher than my neighbor’s for what seems like the same house?”
Let’s break it down.
1. Every Home Is Unique (Even If It Looks the Same)
From the outside, homes in a neighborhood might look similar—but insurance companies look deeper.
Factors that can make your policy more expensive:
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Square footage or extra features (pool, sunroom, deck)
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Construction type or building materials
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Age of roof, HVAC, plumbing, and wiring
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Finished vs. unfinished spaces (like garages or bonus rooms)
Even a small upgrade can bump up replacement costs.
2. Your Coverage May Be Better (That’s Not a Bad Thing!)
If your neighbor chose lower limits or skipped some optional coverages, their premium may be cheaper—but they’re also more exposed.
Coverage choices that can raise your premium:
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Higher Dwelling limit (Coverage A)
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Low deductibles
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Wind & hail coverage (especially in coastal SC)
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Water backup or equipment breakdown add-ons
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Replacement cost vs. actual cash value
If you’d rather have peace of mind over the cheapest rate—that’s a smart call.
3. Insurance Score & Claims History
Yes, your personal insurance score affects pricing—even on home policies.
Insurers may look at:
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Credit-based insurance score (not your FICO score, but related)
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Past claims (home and sometimes auto)
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Lapses in coverage
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Payment history
Your neighbor might have a cleaner record or better insurance score, and that can mean a lower rate.
4. Roof Age & Condition
In the Myrtle Beach area, the condition of your roof makes a big difference in pricing.
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Newer roofs = bigger discounts
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Certain materials (metal, architectural shingles) = lower risk
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Some carriers may surcharge or limit coverage on older roofs
If your neighbor just replaced their roof last year, that could explain the price gap.
5. Your Home Could Be in a Different Rating Zone
Even across the street, homes can fall into different:
These impact your rate, even if you’re technically in the same neighborhood.
6. Different Insurance Companies
Your neighbor may be insured with a completely different carrier. Some companies price more aggressively in certain areas or for certain risk profiles.
At Davis Insurance Associates, we’re independent—which means we shop many carriers to find the best fit for your home, not just a one-size-fits-all option.
🏡 What Can You Do to Lower Your Premium?
If you’re looking for ways to cut costs without cutting coverage, here are some ideas:
✅ Bundle home & auto insurance
✅ Increase your deductible
✅ Add protective devices (alarms, water sensors, smart locks)
✅ Ask about roof credits or mitigation discounts
✅ Let us shop your policy with multiple carriers
Let’s Review Your Policy Together
If you’re wondering whether your current rate is fair—or if there’s something you could be doing differently—let’s talk. We’re local, we’re independent, and we’re here to help homeowners all over Myrtle Beach and the Grand Strand.
👉 Click here to start a Home Insurance Quote
Or call us at (843) 213-0000 and ask for a review. We’ll do the shopping, and you’ll get the best blend of price and protection.
