Myrtle Beach is South Carolina's crown jewel—60 miles of pristine coastline known as the Grand Strand, attracting over 20 million visitors annually. But if you own property here, you've probably discovered that insuring your home, car, or vacation rental is more complicated than in other parts of South Carolina. Between flood zones, hurricane deductibles, vacation rental endorsements, and even golf cart coverage, navigating Myrtle Beach insurance can feel overwhelming. This guide breaks down exactly what you need to protect your property and your peace of mind in this popular coastal community.
Why Myrtle Beach Home Insurance Costs More
Here's the reality: homeowners insurance in Myrtle Beach costs about $2,492 annually—roughly 52% higher than the South Carolina state average of $1,641. The reason? You're living in hurricane territory. Coastal Horry County properties face significant wind and flood risks that insurers price accordingly. Many coastal homeowners are surprised to learn their standard policy doesn't automatically include wind and hail coverage. If your home is in a high-risk coastal area, you'll likely need to purchase separate wind and hail insurance on top of your base homeowners policy.
And then there's the deductible issue. Most Myrtle Beach policies include a special hurricane or windstorm deductible that's calculated as a percentage of your home's insured value—typically 2-5%. That means if your home is insured for $300,000 and you have a 3% hurricane deductible, you'll pay the first $9,000 of hurricane damage out of pocket before your insurance kicks in. This is drastically different from the standard $1,000 or $2,000 deductible you might have for other types of claims.
Understanding Flood Zones and Flood Insurance
Much of Myrtle Beach sits in FEMA's A flood zone, which means there's a high risk of flooding—statistically, at least a 26% chance during a 30-year mortgage. Most land east of Ocean Boulevard is in the floodplain, and low-lying areas near Midway, Withers, Deephead, Cane Patch, and Bear Branch Swashes are especially prone to flooding. If you have a federally backed mortgage and live in a Special Flood Hazard Area, flood insurance isn't optional—it's required by law.
The good news? Flood insurance in Myrtle Beach is more affordable than you might expect. Thanks to the city's participation in the National Flood Insurance Program's Community Rating System since 1991, average premiums are just $348 per year—well below what you'd pay in many other coastal communities. The city also requires new residential structures in the regulatory floodplain to be elevated at least three feet above base flood elevation, which helps reduce risk and keep premiums manageable. Even if you're not legally required to carry flood insurance, it's worth serious consideration given how common flooding is in this area.
Auto Insurance in an At-Fault State
South Carolina operates under a tort system, meaning it's an at-fault state for car accidents. If you cause an accident, you're financially responsible for the resulting injuries and property damage. The state requires all drivers to carry minimum liability coverage of 25/50/25: $25,000 for bodily injury to one person, $50,000 for bodily injury to multiple people, and $25,000 for property damage. You're also required to carry uninsured motorist coverage at the same 25/50/25 limits.
Here's the thing about minimum coverage in a tourist-heavy area like Myrtle Beach: it might not be enough. Consider that medical bills from a serious accident can easily exceed $25,000, and repairing or replacing a newer vehicle could surpass the $25,000 property damage limit. Many insurance professionals recommend carrying at least 100/300/100 coverage, especially if you have assets to protect. The uninsured motorist coverage is particularly important since you're sharing roads with millions of tourists each year, some of whom may not carry adequate insurance.
Vacation Rental Insurance: A Must for Airbnb Hosts
Myrtle Beach is a vacation rental hotspot, but if you're renting your property short-term through Airbnb, Vrbo, or local rental companies, your standard homeowners policy won't cover you. Most homeowners policies explicitly exclude damage caused by paying guests—including theft, vandalism, and intentional damage. This is where specialized short-term rental insurance comes in.
Short-term rental insurance providers like Proper Insurance and Steadily offer policies specifically designed for Myrtle Beach vacation rentals. These policies cover guest-caused damage, provide higher liability limits for guest injuries, and some even include business revenue coverage—if a covered claim prevents you from renting your property, you'll be compensated for lost rental income with no time limit. Some traditional insurers offer home-sharing endorsements you can add to your existing policy, but these often cap rental days per year and provide limited coverage. If you're serious about vacation rentals, a dedicated policy makes more sense. Also keep in mind that North Myrtle Beach requires short-term rental operators to obtain business licenses and carry proper insurance.
Golf Cart Insurance: More Important Than You Think
Golf carts are a way of life in Myrtle Beach. They're not just for the golf course—many residents use them for neighborhood transportation, beach trips, and errands. But here's what many new residents don't realize: if you operate a golf cart on public roads in South Carolina, you need liability insurance, registration, and a permit decal from the DMV. The minimum coverage requirement is typically $50,000 for personal injury and property damage combined.
You'll need to provide proof of ownership and liability insurance to get your golf cart registered. The registration fee is just $5, and the permit decal is valid for five years or until you change your address. In Myrtle Beach, golf carts can only be operated during daylight hours, and drivers must be at least 16 years old with a valid driver's license. Many auto insurers offer golf cart coverage as an add-on to your existing policy, or you can purchase standalone golf cart insurance.
How to Get Started with Myrtle Beach Insurance
The key to getting properly insured in Myrtle Beach is understanding that you'll likely need multiple policies. Start by determining your property's flood zone using FEMA's Flood Map Service Center—just enter your address and you'll see your flood risk. Talk to local insurance agents who specialize in coastal properties; they'll know which carriers offer the best combination of coverage and pricing for your specific location.
When shopping for homeowners insurance, ask explicitly whether wind and hail coverage is included or if you need a separate policy. Get quotes for flood insurance even if you're not in a high-risk zone—it's affordable enough that the protection is worth it. If you're buying a vacation rental property, factor insurance costs into your investment analysis from day one. And if you're bringing a golf cart, budget for that coverage too. Living in Myrtle Beach means accepting certain coastal realities, but with the right insurance strategy, you can protect your investment and enjoy everything the Grand Strand has to offer without constantly worrying about what-if scenarios.
