The words "economical" and "insurance" probably shouldn't be used together, specifically when looking for the cheapest car insurance for Uber drivers. Let's open your eyes to some of the things that have an impact on auto insurance rates, and see if you can take a little off your next policy.
Figuring out which companies quote the cheapest insurance rates for Uber drivers in South Carolina involves a bit more effort than just comparing a company or two. Every insurance company has their own formula for filing rates in each state, so we will examine the insurance companies with the most affordable rates in South Carolina.
It's important to know that South Carolina insurance rates are based on many factors that control the price of coverage. Simply turning a year older, adding a teenager to your policy, or having an at-fault accident can produce rate changes that can cause some rates to be more affordable than others.
Best Auto Insurance Prices for Your Uber Vehicle
|Rank||Company||Cost Per Year|
|5||Southern Farm Bureau||$1,286|
|6||SC Farm Bureau Mutual||$1,298|
|7||National Grange Mutual||$1,361|
|Compare Rates Now Go|
The Hartford normally has some of the cheapest car insurance rates in South Carolina at around $768 per year. USAA, State Auto, Auto-Owners, and Southern Farm Bureau are also some of the cheaper South Carolina insurance companies.
In the above rates, if you buy coverage from USAA and switched to The Hartford, you may see an annual savings of approximately $217. Policyholders with State Auto might save as much as $337 a year, and Auto-Owners customers might reduce rates by $385 a year.
Understand that those policy prices are averaged across all drivers and vehicles in South Carolina and and are not figured with a price discount for Uber drivers. So the company that has the cheapest price for you may not even be in the top 18 companies in the list above. That's why you need to compare prices as often as possible using your own driver information and specific vehicle type.
The vehicle model you are buying coverage for is one of the main factors when quoting affordable coverage for Uber drivers. Vehicles with limited top-end speed, an excellent safety record, or low incidents of liability claims will cost significantly less to insure than higher performance models.
The information below presents insurance premiums for a number of the more affordable automobiles to insure in South Carolina.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$811|
|Ford Edge SEL AWD||$939|
|Volkswagen Jetta SE 2.5 Station Wagon||$945|
|Toyota RAV4 2WD||$958|
|Ford F-150 FX4 4WD||$976|
|Dodge Grand Caravan SXT||$985|
|Toyota Tacoma X-Runner 2WD||$1,007|
|Hyundai Elantra SE 4-Dr Sedan||$1,015|
|Chevrolet Impala LTZ||$1,007|
|Honda CR-V EX-L 4WD||$1,017|
|Chevrolet Equinox LTZ AWD||$1,025|
|Jeep Grand Cherokee Limited 2WD||$1,025|
|Ford Explorer XLT AWD||$1,039|
|Chevrolet Malibu LS||$1,097|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,115|
|GMC Sierra 2500HD SLE Crew Cab 2WD||$1,146|
|Ford Focus SE 4-Dr Sedan||$1,152|
|Honda Odyssey EX-L W/Navigation||$1,154|
|Hyundai Sonata GLS 4-Dr Sedan||$1,178|
|Kia Optima LX||$1,187|
|Nissan Rogue S 2WD||$1,178|
|GMC Sierra 3500HD SLE Crew Cab 2WD||$1,195|
|Compare Rates Now Go|
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in vehicle garaging location which can affect price quotes noticeably.
Based on these rates, you can infer that makes and models like the Ford Escape, Ford Edge, Volkswagen Jetta, Toyota RAV4, and Ford F-150 will definitely be the most economical vehicles to insure for Uber vehicles.
Discounts on South Carolina car insurance rates
Insurers that sell policies for Uber drivers could also offer discounts that may potentially lower prices by 30% or more if you meet specific eligibility requirements. The best insurance companies and their offered discounts can be found below.
- AAA may include discounts for education and occupation, multi-car, pay-in-full, multi-policy, and anti-theft.
- Progressive has discounts for good student, online signing, online quote discount, continuous coverage, and homeowner.
- State Farm offers discounts for good student, good driver, driver's education, multiple autos, and anti-theft.
- Esurance policyholders can earn discounts including paid-in-full, good driver, multi-policy, good student, anti-lock brakes, renters, and emergency road assistance.
- Nationwide may offer discounts for business or organization, accident-free, multi-policy, anti-theft, easy pay, Farm Bureau membership, and family plan.
The chart below illustrates the difference between premium costs with and without discounts being applied to the rates. The prices are based on a female driver, no violations or accidents, South Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with multiple policy, vehicle safety, homeowner, passive restraint, claim-free, and marriage discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on insurance for Uber drivers is 28% or $512.
Violations and accidents raise rates
The obvious way to find affordable insurance rates in South Carolina for Uber vehicles is to be a careful driver and avoid tickets and accidents. The diagram below demonstrates how speeding tickets and fender-benders can drive up auto insurance rates for different age categories. The rate quotes are based on a married female driver, full coverage, $100 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of auto insurance per year with no accidents and a clean driving record is $1,510. Get written up for two speeding tickets and the average cost hikes up to $2,149, an increase of $640 each year. Then add two accidents along with the two speeding tickets and the yearly cost of insurance for Uber drivers in South Carolina increases to an average of $4,418. That's an increase of $2,909, or $242 per month, just for not being a responsible driver!
Can you find cheaper South Carolina car insurance?
South Carolina insurance rates are impacted by many things which can significantly increase or decrease the cost of coverage. Improving your credit rating, marrying your spouse, or getting a driving violation may prompt premium changes resulting in some companies being cheaper than competitors.
In addition, car insurance companies amend premium rates as often as every three months to adjust for heavy claims or excess profits. Unexpectedly high claims may result in high rates, while lower claims may produce cheaper South Carolina car insurance rates.
To illustrate this point, the bar chart below shows the companies that have the cheapest car insurance in South Carolina for a 30-year-old female driver with no prior claims, no tickets, and a high credit rating. If we look at prices based on her personal risk profile, The Hartford may offer the most affordable car insurance rates in South Carolina at $745 annually. This is $864 less than the average premium paid by South Carolina drivers of $1,609. USAA, Auto-Owners, State Auto, and SC Farm Bureau Mutual are the rest of the top five cheapest South Carolina auto insurance companies.
The example below compares rates after we give the driver from the first example some claims, a little lower credit rating, and an imperfect driving record. Since each auto insurer uses their own calculation to determine rates, analyzing rate quotes could now result in a different list of affordable South Carolina car insurance companies as shown below.
National Grange Mutual now has the best auto insurance rate in South Carolina with State Farm, Travelers, USAA, and The Hartford now being in the top five. This example proves why consumers need to compare rates when trying to find the cheapest car insurance rates for Uber drivers.
Rates consist of many risk factors and change substantially, so the cheapest rate six months ago may now cost much more than other companies.