Landlord Insurance in Myrtle Beach, SC

What Is Landlord Insurance?

Landlord insurance—also called rental dwelling insurance or rental property insurance—protects properties you own and rent to tenants. This specialized coverage addresses risks that standard homeowners policies explicitly exclude: tenant-occupied properties, rental income loss, and liability exposures unique to being a landlord.

If you own a rental property in Myrtle Beach, whether it's a single-family home, a condo you rent seasonally, or a multi-unit building, your standard homeowners policy won't cover it. The moment you accept rent from a tenant, you need landlord insurance.

Why Myrtle Beach Property Owners Need Landlord Insurance

The Grand Strand rental market is active year-round. Long-term rentals serve local workers and families, while vacation rentals capitalize on tourism traffic. Both create risks your personal homeowners policy was never designed to cover. Here's why landlord insurance matters:

• Homeowners insurance excludes rental activity. Most homeowners policies void coverage the moment you rent your property to others. File a claim on a rental property under your homeowners policy, and you'll likely be denied—and possibly dropped.


• Your investment needs protection. Fire, storms, vandalism, and tenant damage can destroy a property worth hundreds of thousands of dollars. Landlord insurance covers the structure itself.


• Lost rent hurts. If your property becomes uninhabitable due to a covered loss, you lose rental income while repairs are completed. Loss of rent coverage replaces that income so you can still meet mortgage payments.


• Liability claims happen. A tenant slips on icy steps. A visitor's child is injured on the property. The deck collapses during a party. Landlord insurance provides liability coverage for injuries and property damage occurring at your rental.


• Coastal properties face elevated risks. Hurricanes, tropical storms, and flooding threaten Myrtle Beach rental properties. Proper coverage ensures you can rebuild and recover after a major weather event.

What Does Landlord Insurance Cover?

Landlord insurance policies bundle several coverage types tailored to rental property ownership. Understanding each helps you select appropriate limits.

Dwelling Coverage

Dwelling coverage protects the physical structure—walls, roof, foundation, built-in systems, and attached structures like garages. If your rental property in Conway is damaged by fire or your Surfside Beach duplex loses its roof in a storm, dwelling coverage pays for repairs or rebuilding.

Other Structures Coverage

Detached structures on the property—sheds, fences, detached garages, and pools—are covered separately. Limits are typically a percentage of your dwelling coverage amount.

Loss of Rental Income

If a covered loss makes your property uninhabitable, loss of rental income coverage (sometimes called fair rental value) replaces the rent you would have collected during repairs. This keeps mortgage payments, property taxes, and other carrying costs from draining your reserves while the property sits empty.

Liability Coverage

Liability protection covers legal costs and damages if someone is injured at your rental property and you're found responsible. This includes medical expenses, legal defense, and settlement costs. Standard limits start at $100,000, but higher limits—$300,000 to $500,000—are recommended, especially for Myrtle Beach landlords with multiple properties.

Landlord Personal Property

If you provide appliances, lawn equipment, or furnishings with the rental, landlord personal property coverage protects those items. This doesn't cover tenant belongings—that's what renters insurance is for.

Landlord Insurance Policy Forms: DP-1, DP-2, and DP-3

Landlord insurance comes in three standard forms, each offering different levels of protection:

DP-1 (Basic Form): Covers only specifically named perils—fire, lightning, and a limited list of other causes. Claims are paid at actual cash value, meaning depreciation is deducted. DP-1 is the cheapest option but provides the narrowest protection.

DP-2 (Broad Form): Covers a wider range of named perils including vandalism, falling objects, and water damage from plumbing failures. Still pays actual cash value on claims. A step up from DP-1 at moderate cost.

DP-3 (Special Form): Provides open-peril coverage for the dwelling, meaning everything is covered unless specifically excluded. Typically pays replacement cost rather than actual cash value. DP-3 offers the most comprehensive protection and is what most Myrtle Beach landlords should carry.

Moore & Associates can explain the differences in detail and help you choose the right form for your rental properties.

Short-Term Vacation Rentals vs. Long-Term Rentals

Insurance needs differ based on how you rent your property:

Long-term rentals with 12-month leases have relatively predictable risk profiles. Standard landlord insurance policies work well for these properties. Tenants typically carry renters insurance, and turnover is limited.

Short-term vacation rentals —properties listed on Airbnb, VRBO, or rented by the week during tourist season—face different exposures. Higher turnover means more wear and tear. Guests unfamiliar with the property may cause accidental damage. Liability risks increase with constant visitor traffic.

Some standard landlord policies exclude or limit short-term rental coverage. If you rent your North Myrtle Beach condo weekly during summer or list a Pawleys Island cottage on vacation rental platforms, make sure your policy specifically covers that activity. Specialized short-term rental insurance products exist for properties with frequent guest turnover.

Should You Require Tenants to Carry Renters Insurance?

Yes. Requiring tenants to maintain renters insurance protects both parties and reduces claims against your landlord policy.

Your landlord insurance covers the building—not your tenant's furniture, electronics, clothing, or other belongings. When a tenant's possessions are damaged by fire or theft, they'll look to you for compensation unless they have their own policy.

Renters insurance also includes tenant liability coverage. If your tenant causes a kitchen fire or overflows a bathtub and damages the unit below, their renters policy can cover the damage instead of triggering a claim on your landlord insurance.

Adding a lease clause requiring tenants to maintain renters insurance with minimum coverage amounts is standard practice among experienced landlords. It's a small expense for tenants—typically $15 to $30 monthly—that significantly reduces your risk.

How Much Does Landlord Insurance Cost in South Carolina?

Landlord insurance typically costs 15% to 25% more than homeowners insurance on comparable properties. The premium reflects increased risks associated with tenant occupancy and the broader coverage landlord policies provide.

Factors affecting your premium include:

• Property value and replacement cost


• Location within Myrtle Beach and proximity to coast


• Construction type and age of the building


• Coverage limits and deductibles selected


• Policy form (DP-1, DP-2, or DP-3)


• Claims history on the property


• Whether the property is long-term or short-term rental

Properties in Murrells Inlet, Litchfield, and Georgetown may have different rate factors than oceanfront condos in Myrtle Beach. The only way to know your actual cost is to get quotes. Moore & Associates can compare multiple carriers to find competitive rates.

Why Choose Moore & Associates for Landlord Insurance

Moore & Associates has served Myrtle Beach and the South Carolina coast since 1979. As an independent insurance agency, we work with multiple carriers offering landlord insurance—not just one company with limited options.

Our local agents understand the Myrtle Beach rental market, from long-term residential properties in Conway to vacation condos in Atlantic Beach. We can help you select appropriate coverage, understand policy forms, and bundle multiple rental properties for potential discounts. Whether you own one investment property or a portfolio of rentals, we'll find protection that fits.

Get a Landlord Insurance Quote in Myrtle Beach, South Carolina

Our landlord insurance agents serve Myrtle Beach, South Carolina and surrounding areas including North Myrtle Beach, Atlantic Beach, Conway, Surfside Beach, Murrells Inlet, Litchfield, Pawleys Island, and Georgetown. Contact Moore & Associates today for a free quote.