Insurance Premiums Negatively Impact Resident's Budgets

The Challenge: Homeowner, auto, and health insurance premiums in South Carolina have risen sharply, with few regulatory checks on rate increases and it is contributing to financial pressures. What do South Carolinians think? Residents describe unsustainable costs. One wrote: "hundreds of thousands of homeowners' policies have more than doubled in under 5 years — premiums are going up, deductibles are going up, coverages are going down." Another noted that "Blue Cross Blue Shield is the only healthcare option for the self-insured — why can't United, Aetna, etc. come in?" A retired couple described how "home and flood insurance along with car insurance depletes a double income down to one to pay all the other bills — it is now unsustainable." Residents call for opening the market to more competition to bring costs down.