By Mauldin Insurance Group  |  Lexington, South Carolina  |  2026

Lexington is one of the fastest-growing communities in South Carolina — and one of the best places to own a home. But as home values have risen, as weather events have become more frequent, and as construction costs have climbed sharply, the gap between what many homeowners are insured for and what it would actually cost to rebuild has widened significantly.

At Mauldin Insurance Group, we're right here on Old Cherokee Road in Lexington. We help local homeowners not just get the cheapest policy available, but get the right coverage — so that if something happens, your insurance actually does what you expect it to do.

This guide covers what home insurance covers, what it costs in Lexington, what local risk factors you should know, and how to avoid the most common coverage mistakes.

 

What Does Homeowners Insurance Cover in South Carolina?

A standard HO-3 homeowners policy — the most common type in SC — provides coverage in six areas:

Dwelling Coverage (Coverage A)

Pays to repair or rebuild your home's structure if it's damaged by a covered peril — fire, lightning, wind, hail, vandalism, or certain water damage. This is the most important number on your policy. It should reflect the full cost to rebuild your home at today's construction prices, not the market value or what you paid for it.

With construction costs in the Lexington area rising 25 to 40 percent since 2020, many homeowners who haven't reviewed their policy recently are significantly underinsured on dwelling coverage.

Other Structures (Coverage B)

Covers detached structures on your property — garages, fences, sheds, pergolas, and outbuildings. Typically set at 10 percent of your dwelling coverage automatically, but can be increased if you have significant outbuildings.

Personal Property (Coverage C)

Covers your belongings — furniture, appliances, electronics, clothing, and more — against covered perils both inside your home and away from home. A standard policy is typically 50 to 70 percent of your dwelling limit.

Important: High-value items like jewelry, fine art, firearms, and collectibles often have per-item sub-limits of $1,500 to $2,500. If you own items worth more, you need a scheduled personal property endorsement.

Loss of Use (Coverage D)

If a covered event forces you out of your home during repairs, this coverage pays for a hotel, temporary rental, meals, and other increased living expenses. In Lexington, where construction timelines have stretched significantly, this coverage is more important than ever.

Liability (Coverage E)

Covers you if someone is injured on your property or if you accidentally cause damage to someone else's property. Standard policies include $100,000 to $300,000 of liability coverage. Most homeowners benefit from carrying at least $300,000 — and many add an umbrella policy on top for broader protection.

Medical Payments (Coverage F)

A small amount (typically $1,000 to $5,000) that pays for minor medical expenses if a guest is injured on your property, regardless of fault. This is a goodwill coverage designed to handle small incidents without a liability claim.

 

What Home Insurance Does NOT Cover in SC

Understanding your exclusions is critical. Standard SC homeowners policies do not cover:

• Flooding — this is a separate policy through the National Flood Insurance Program (NFIP) or a private carrier. Flooding is NOT a covered peril under standard home insurance, even when caused by heavy rain.
• Earthquakes — rare in SC but does occur; requires a separate endorsement
• Normal wear and tear and maintenance issues — home insurance is for sudden, accidental events, not gradual deterioration
• Sewer or drain backup — not covered unless you add a specific endorsement
• Mold — often excluded unless directly caused by a covered water event

Flood Risk in Lexington County Lexington County includes areas with meaningful flood risk, particularly near Lake Murray, the Saluda River, and low-lying neighborhoods. FEMA flood maps don't always capture full local risk. If your home has ever experienced water intrusion or sits near drainage areas, ask us about flood coverage options.

 

 

How Much Does Home Insurance Cost in Lexington, SC?

Home insurance rates in Lexington have increased over the past two years, driven by rising construction costs, increased storm claims across the state, and some carriers reducing their SC appetite. That said, Lexington County still has more competitive rates than coastal areas like Charleston or Hilton Head.

General cost ranges for Lexington homeowners in 2026:

• Home value $200,000 to $300,000: approximately $1,100 to $1,600 per year
• Home value $300,000 to $450,000: approximately $1,400 to $2,200 per year
• Home value $450,000 to $600,000: approximately $1,900 to $2,900 per year
• Home value $600,000+: highly variable based on construction, age, and features

These ranges vary significantly based on your home's age, roof condition, construction type, claims history, credit score, and the specific coverage levels you choose. Older homes — particularly those built before 1990 — often cost more to insure due to outdated electrical, plumbing, and roofing systems.

 

Lexington-Specific Risk Factors to Know

Severe Weather

Lexington County averages multiple significant thunderstorm events per year, with hail, high winds, and occasional tornadoes. Wind and hail are covered perils under standard home insurance, but some policies now have separate wind/hail deductibles — meaning you pay a higher out-of-pocket amount for storm claims than for other types.

Always ask whether your policy has a separate wind or hail deductible, and what percentage it represents. On a $300,000 dwelling, a 2% wind deductible means you're responsible for the first $6,000 of any storm claim.

Aging Roofs

Many Lexington homes built in the 1990s and 2000s are now approaching 25 to 30 years of roof age. Carriers pay close attention to roof age, and some will not renew policies or will reduce claim payments on roofs over 20 years old. If your roof is aging, a replacement before renewal can both reduce your premium and protect your claim coverage.

Rising Replacement Costs

Lumber, labor, and material costs in the Midlands have increased dramatically. A home that cost $180 per square foot to rebuild in 2019 may cost $250 to $280 today. If your dwelling coverage hasn't been updated to reflect this, you could face a significant shortfall after a major loss.

We recommend reviewing your replacement cost estimate every two to three years with your agent.

 

The Most Common Home Insurance Mistakes Lexington Homeowners Make

• Insuring for market value instead of rebuild cost — these are different numbers and market value is usually the wrong one
• Not updating coverage after renovations — a remodeled kitchen or added square footage changes your rebuild cost
• Choosing the cheapest policy without understanding the deductibles and exclusions
• Assuming flood is included — it never is under a standard policy
• Not carrying enough liability — $100,000 is rarely sufficient for a homeowner with assets to protect
• Never shopping the coverage — loyalty rarely pays in home insurance, and rates can differ significantly between carriers

 

Why Local Matters When Shopping Home Insurance

National insurance companies don't always understand Lexington's specific risk profile. As independent agents who live and work in the Midlands, we know which carriers are actively competitive for Lexington homeowners, which have strong claims service in SC, and which are worth avoiding.

We shop your coverage across multiple top-rated carriers to find the best combination of price and protection — and we stay with you after the sale to make sure your coverage stays current as your home and life change.

 

Get a Free Home Insurance Review Whether you're buying a home, renewing an existing policy, or just wondering if you're paying too much — we're here to help. No pressure, just honest local advice.   📞 Call or Text: 803-920-8827 🌐 MauldinInsuranceGroup.com 📍 100 Old Cherokee Rd, Lexington, SC 29072 — Serving the entire SC Midlands