How to Find the Most Affordable Car Insurance in South Carolina

Fran
Lucy Lazarony
July 27, 2020

In South Carolina, the average car insurance premium is $1,361 per year, which is almost 5 percent less than the national average. Being a little bit better than average isn’t good enough when it comes to auto insurance rates. Luckily there are tips and strategies that will help to lower car insurance rates in South Carolina. We will get to those tips a little bit later on, first we will take a closer look at car insurance in South Carolina.

State Minimum Liability Requirements

If you ever cause a car accident, liability car insurance pays for other people’s injuries and property damage, up to your liability limit. Each state has minimum liability requirements for the drivers in their state.

In South Carolina, the minimum liability requirements are $25,000 bodily injury liability coverage per person, $50,000 bodily injury liability coverage per accident and $25,000 property damage liability coverage per accident.

This minimum liability coverage costs around $693 per year.

Uninsured Motorist Coverage

Uninsured motorist coverage helps pay for damages caused by a driver who doesn’t have insurance. South Carolina requires drivers to carry uninsured motorist coverage equal to the minimum amounts of liability coverage. Those amounts would be $25,000 bodily injury per person, $50,000 bodily injury per accident and $25,000 property damage per accident.

Underinsured Motorist Coverage

Underinsured motorist coverage protects you in the event of an accident where the other party is at fault and doesn’t have enough insurance.

In South Carolina, auto insurers are required to offer drivers underinsured motorist coverage but drivers are not required to purchase it.

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A More Comprehensive Policy Costs More

In South Carolina, a more comprehensive policy with collision insurance and comprehensive insurance and $1,000 deductibles would cost around $1,240.

Collision car insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive car insurance covers events that aren’t covered by collision coverage. These events include theft, fire, vandalism and damages from weather such as a hurricane, a tornado, a hailstorm and a windstorm.

If you have a loan on your car, your lender may require that you carry collision insurance and comprehensive insurance.

A deductible is the amount you pay before your auto insurance company begins to pay for damages to your car or losses. Choosing a high deductible is one way to save money on car insurance premiums.

South Carolina Is an At-Fault State

When it comes to insurance, South Carolina is an at-fault state. This means South Carolina drivers are responsible for any damage they cause to another vehicle. An insurance adjuster determines who is at fault in an accident.

Cheapest and Most Expensive Cities

In South Carolina, the city with the cheapest car insurance is Simpsonville. And the city with the most expensive car insurance is North Charleston.

How to Save Money on Car Insurance

Looking for ways to lower your car insurance premium? Here they come. Use as many as you can to save money.

Maintain Excellent Credit. Insurance companies have been using consumer credit data to assign risk pools and set rates since the mid-1990s. Drivers with excellent credit get the best auto insurance rates. Drivers with poor or no credit pay the most for their car insurance. In South Carolina, a driver with excellent credit saves roughly $1,535 per year on car insurance compared with a driver with bad credit. Want to improve your credit? Get current on all past due accounts, pay down debt and avoid taking on new debt. Get in the habit of paying your bills on-time. This will help you build up a positive payment history, which is good for your credit score.

Be a Married Motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married motorists pay less for car insurance than singles. In South Carolina, married motorists save $68 per year on car insurance.

Be a Responsible Driver. If you are a safe and responsible driver and follow the rules of the road, you will save money on your car insurance. In South Carolina, drivers without a recent at-fault accident save 31 percent on their car insurance premiums. But break a few driving rules and your premiums will go up. In South Carolina, car insurance premiums increase 33 percent after a DUI, 31 percent after an at-fault accident and 16 percent after a speeding ticket. What does that mean in dollars and cents? A first, minor, at-fault accident costs around $634 per year. A DUI raises yearly insurance rates by about $704. So be a safe driver and follow the rules of the road. Doing so will earn your lower auto insurance rates, including a good driver discount. Ask for your discount today.

Snap Up a Multi-Car Discount. Insure more than one car with the same auto insurance company and save money with a multi-car discount.

Bundle Your Policy. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Pay Once or Twice a Year. Rather than paying monthly auto insurance bills, pay the entire, annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Drop Coverage on Older Cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Review Memberships. Members of some professional organizations and affiliates get discounts on car insurance. Check your memberships to see if you are due a discount.

Check Out Car Features. Having certain anti-theft and safety features on your car will lower your car insurance. So check your car features with your auto insurance company and see if they warrant a discount.

Opt for a High Deductible. As mentioned earlier, choosing a high deductible will save you money on your car insurance. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there should you need to make an insurance claim.

Stick with Coverage. You will pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your auto insurance coverage and save money.

Reach Out for Discounts. The good driver discount has been mentioned. There also are discounts for veterans and students. So be sure to reach out to your car insurance company if you qualify.

Be a Lady Driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Your Age Makes a Difference. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more in car insurance. Drivers of the ages in-between pay less.

Keep Miles Low. If you are a heavy commuter and rack up the miles, you will pay more in car insurance. If you are a low-mileage driver, you will pay less for car insurance. So drive less and save money on your car insurance.

Choose a Safe Home. If your neighborhood has high accident claims and high auto theft, you will pay more for your car insurance. If your neighborhood has low accident claims and low crime, you will pay less for car insurance. So choose a safe neighborhood and save money on your car insurance.

Own a Home. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Shop Around. One of the best ways to save money on car insurance is to shop around. You will want to get insurance quotes from several different insurance companies. SmartFinancial makes this easy to do. Just input the type of insurance you are looking for and a zip code to get started. Next, answer a few, quick questions and you will be comparing auto insurance quotes in South Carolina in no time.

SmartFinancial has access to more than 200 insurance companies so you are bound to find the insurance coverage and price that you want. So shop smart for auto insurance and drive safely along the roadways of South Carolina.

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