Landlord insurance in Myrtle Beach, SC
Landlord insurance covers Myrtle Beach rental properties the way homeowners insurance cannot. Expect protection for the structure, your landlord liability, and the income you lose after a covered claim, all priced for a home someone else lives in.
Trusted insurance service for landlords in Myrtle Beach SC
Secure your rental property in Myrtle Beach's coastal haven
Myrtle Beach, South Carolina, is a strong rental market for landlords seeking to capitalize on its busy resort atmosphere and extensive beachfront. With Steadily's landlord insurance, you can protect your investment with fast and affordable policies made for the needs of this busy coastal city. Whether you're managing a cozy condo or a sprawling beach house, our insurance solutions help protect against the local risks of storms, wind, and liability, ensuring confidence for property owners in this popular rental market.
As a landlord in Myrtle Beach, you'll benefit from the city's growing tourism industry and appealing rental opportunities. Covering property damage and liability is crucial in a region known for its coastal weather patterns. Additionally, our policies offer protection against lost rent, keeping your investment secure even when unforeseen events occur. Myrtle Beach's diverse neighborhoods and proximity to attractions like the Grand Strand make it an attractive location for tenants, amplifying the importance of landlord insurance coverage.
Who needs landlord insurance in Myrtle Beach SC?
Landlord insurance is a policy for people who rent their homes to others. It is NOT homeowners insurance, and should not be used to cover your primary residence.
You may need landlord insurance if you:
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The Myrtle Beach rental market
About 6,680 Myrtle Beach households rent rather than own, roughly 39 percent of the city, at a median gross rent near $1,132 and around $1,116 for a two bedroom. Those numbers set what you stand to lose when a claim takes a unit offline, which is the part of a landlord policy owners tend to skim.
Myrtle Beach's individual-landlord pool runs to roughly 2,590 homes: about 1,350 single-family rentals and around 1,230 units in small two-to-four-unit buildings. Supply has loosened to around 7.7 months, and a slower resale market tends to push more owners toward renting rather than listing.
What a policy gets tested by in this market is hurricane and windstorm exposure, which carries its own deductible on most coastal policies, and flood, which is excluded from every standard landlord policy and is a separate purchase near the coast. As for the rules you operate under, South Carolina has no rent cap. On deposits, a written itemized notice of any deductions and the balance due is owed within 30 days of the tenancy ending, and failing to do so can cost you the right to keep any of it, plus up to three times the amount wrongfully withheld and attorney fees.
What does coverage cost for a Myrtle Beach rental?
Across public industry averages, a landlord policy tends to run somewhat more than a comparable homeowners policy on the same property, because it adds landlord liability and loss of rent. None of that is a quoted price. It is a summary of publicly reported averages and nothing more.
What matters more locally is what it would cost to reconstruct the building. Median sale prices in Myrtle Beach sit near $262,326, which gives a sense of scale, but you insure to rebuild cost rather than to market value. In this market the biggest single swing factor is windstorm exposure and how far the property sits from the coast, which can change a quote more than the size of the building does. The variables are many: how big the property is, what it is built from, how old the roof is, what has been claimed before, the deductible you accept, and the limits you want. Anything short of quoting the address is guesswork.
Landlord insurance coverages in Myrtle Beach SC
We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium
Wind and hurricane
Steadily covers wind and hurricane damage to the structure of your rental, from a stripped roof and broken windows to siding torn loose and a tree through the wall, plus the rental income you lose while it's repaired.
Riot & civil commotion
Steadily’s landlord insurance covers property damage from riots and civil commotion, including broken windows, structural fires, and looted common areas, so the repair costs don’t fall entirely on you. Documentation connecting the damage to the civil unrest is required.
Vandalism & burglary
Steadily covers malicious damage to your rental from vandalism and break-ins: broken doors and windows, defaced surfaces, damaged fixtures and appliances. A police report is typically required to file the claim.
Loss of rent
When a covered event makes the unit temporarily uninhabitable, Steadily’s loss of rent coverage replaces the income you’d lose while repairs are underway, whether the cause is a fire, a burst pipe, or storm damage.
Storm and hail
Steadily covers storm and hail damage to the structure of your property, including roof punctures, dented or torn shingles, broken windows, and damage from fallen trees and debris, up to your policy limits.
Water
For sudden water damage events such as burst pipes, plumbing failures and appliance overflow, Steadily covers the structural repairs and lost rental income if the unit can’t be occupied while the work is done. Flood damage from rising water requires a separate policy.
Legal liability
Landlord liability insurance pays medical bills, legal defense, and settlements when a tenant or visitor is injured at your rental and holds you responsible. It's built into every Steadily landlord policy in all 50 states with $300,000 to $2 million per occurrence, typically adding $200 to $400 a year to the bundled premium.
Fire
Steadily covers structural fire damage, smoke damage, personal property you own at the unit, and lost rental income while repairs are underway. That includes fires started in the kitchen, by the wiring, by a tenant, or by a wildfire nearby.
Frequently asked questions
What does a Myrtle Beach landlord policy include?
It pays for damage to the building, defends you if a tenant or visitor is hurt and holds you responsible, and replaces rent while a covered claim keeps the place empty. It does not touch the tenant's furniture, and it does not cover flood.
Why does the price vary so much between Myrtle Beach properties?
Almost none of it is about the neighborhood. In this market windstorm exposure and how far the property sits from the coast moves a quote more than anything else, followed by how the building is constructed, square footage, the year it was built, what has been claimed on it before and the age and condition of the roof. A property that has been updated prices very differently from one that has not.
Do I need landlord insurance in South Carolina, or will my homeowners policy cover it?
South Carolina does not require it by statute, though any mortgage will. The more pressing issue is that keeping the homeowners policy does not work: it is written for an owner-occupied home, and the moment the property is tenanted the carrier can refuse the claim. Landlord coverage replaces it and adds loss of rent and landlord liability.
Which insurer should a Myrtle Beach landlord use?
Start with what a carrier will actually write on your address and property type, then look at how it settles claims. Steadily writes landlord coverage across South Carolina and quotes online in minutes. Price is the last filter, not the first.
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