Car insurance rates vary based on a variety of factors in South Carolina. You can use the MoneyGeek South Carolina Car Insurance Calculator to estimate how much you’ll pay based on your driving record, vehicle type and coverage levels.
State Minimum Coverage
The law requires that drivers in the state have liability insurance that provides minimum coverage limits for bodily injury and property damage. These limits are designed to protect you against losses resulting from accidents that involve other drivers who lack insurance.
Liability insurance may also include uninsured motorist coverage, which can help cover your medical expenses and other damages in case you’re involved in an accident with a driver who is underinsured or who doesn’t have insurance at all. Choosing the right amount of liability coverage is important because it can help you avoid paying for the costs of an accident out of pocket, as well as protecting your financial assets in case of an at-fault accident.
Luxury Cars & Insurance Rates
The cost of car insurance for cars that are classified as high-end or luxury can be higher than for other vehicles, due to the fact that they’re more expensive to repair or replace after an accident. In addition, drivers in the state that own these types of vehicles are more likely to be involved in an accident that results in injuries and property damage.
Credit Scores & Discounts
Your credit score can have a significant impact on your car insurance rates. Most companies will treat a low credit score as a sign that you’re more of a risk, so it’s important to compare quotes and look for discounts on your policy.
Drivers in South Carolina with good credit scores are typically able to secure affordable rates, and some companies will even offer a discount for a clean driving record. However, drivers with bad credit can expect to pay 80% more than those with good credit.
Using the MoneyGeek South Carolina Car Insurance Calculator, you can quickly estimate how much you’ll pay based your age, driving record and car type. You can then use that figure to find the best insurance company for your needs.
Young Drivers & Auto Insurance
When it comes to young drivers, the cost of their auto insurance can be prohibitive. On average, drivers in their twenties can expect to pay $266 per month for the minimum coverage required by the state.
A teen’s driving record can have a major impact on their car insurance rates. For example, drivers with one speeding ticket or no tickets in their history pay an average of 19% more than drivers with clean records.
While these differences are minor, they can add up to a large sum of money if you’re involved in an accident with another driver. So it’s important to be sure that you don’t have any citations on your record before applying for a car insurance policy.
Married Drivers & Auto Insurance
In general, married drivers are more likely to have an accident-free driving record than single drivers, which can lower their premiums. So, if you’re in the market for car insurance, it’s a good idea to shop around and see what kind of savings you can get with an insurer that’s geared toward married drivers.