There are a few different factors that determine how much you’ll pay for car insurance in South Carolina. These factors include your age, the model of your car, your location, the level of coverage you want, and your credit score. The more of these factors you have, the higher your premium will be. To find out how much you’ll pay, try MoneyGeek’s car insurance calculator. You can use it to estimate your cost per month, year, or decade.
In South Carolina, drivers are required to carry bodily injury liability insurance. This is a type of policy that pays for medical costs and other expenses for another driver if you’re involved in an accident. It’s not mandatory to purchase a collision or comprehensive coverage, though.
Car insurance rates in South Carolina are average compared to the national average. This means that it’s a good idea to compare quotes from various carriers to find a low-cost car insurance company. If you need additional coverage, you can also look into an assigned risk program. An assigned risk program pools together insurance companies to insure people. They’re a last resort, but it can save you money.
Drivers with a clean driving record can qualify for discounts, including those for maintaining a credit score. However, a DUI conviction will result in a huge rate increase. Drivers can get a driver discount by completing a driver safety course. A vehicle with a safety feature can also be eligible for a discount.
Young and new drivers pay more for auto insurance. Teens and young adults are often classified as high-risk drivers because they’re more likely to be involved in an automobile accident than older adults. Also, insurers consider a young driver to be a higher risk because they have less experience.
Having a teen driver increases the cost of car insurance in South Carolina by 3.1 times. Similarly, driving a luxury car is more expensive to insure. Luxury cars are also more likely to be damaged, so you may want to add additional protection to your policy.
South Carolina drivers with continuous coverage are more likely to receive discounts. Drivers with five or more years of insurance history pay 9% less than those without continuous coverage. Those who have two or more traffic violations will see their rates rise by 81%. Keeping your insurance coverage up-to-date is the easiest way to ensure you’re not getting hit with a higher rate.
Drivers who want a lower rate should keep in mind that the best option is to get a no-down-payment car insurance policy. This is especially true if you haven’t yet saved up a substantial down payment for your car. When you’re shopping for car insurance, you can start by comparing the lowest monthly premiums from leading carriers in your area.
Several insurance carriers are available in South Carolina, including Geico, Auto-Owners, and American National. While all three of these companies offer cheap auto insurance, the cheapest is American National. Typically, you’ll pay about $44 a month for the minimum required coverage. For a full-coverage policy with a $500 deductible, you’ll pay around $1,674 a year.