This article would sure be shorter if we could tell you the company that is cheapest for 18 year olds in South Carolina. It's not that simple, unfortunately, as there are a whole bunch of unknowns such as if you own your own home, the crime level of your neighborhood, and if you are married or single, that all factor into the price you pay. The information below will cover some of these criteria and should give you some help in finding cheaper rates.
Deciding which insurers offer the cheapest auto insurance rates for 18 year olds in South Carolina involves a little more sweat in order to find the lowest price. Every auto insurer has their own unique process to set their prices, so we will examine the overall cheapest auto insurance companies in South Carolina.
Lowest Insurance Price Quotes for Teens
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,298|
|6||Southern Farm Bureau||$1,298|
|7||National Grange Mutual||$1,321|
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The Hartford quotes some of the best car insurance rates in South Carolina at around $768 annually. USAA, Auto-Owners, State Auto, and SC Farm Bureau Mutual would also make the list of some of the more affordable South Carolina auto insurance companies.
As shown in the table above, if you are a policyholder with Auto-Owners and switched to The Hartford, you might achieve an annual premium reduction of approximately $351. Policyholders with State Auto may save as much as $359 a year, and SC Farm Bureau Mutual insureds might cut rates by $530 a year.
To find out how much you can save, click here to start your free quote or click through to the companies below.
It's important to note that these policy prices are averaged across all types of insureds and vehicles and do not factor in a price surcharge for 18 year olds. So the car insurance company that can offer you the best price may not even be in the top 18 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The type of vehicle you are insuring is probably the largest consideration when consumers are trying to find the most economical coverage for 18 year olds. Vehicles with high performance engines, a lack of safety features, or a history of substantial liability claims will cost substantially more to insure than safer models.
The data below outlines car insurance premiums for a handful of the cheaper vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$3,055|
|Hyundai Elantra GLS Touring Station Wagon||$3,064|
|Ford Escape XLT 4WD||$3,090|
|Honda Accord EX-L 4-Dr Sedan||$3,294|
|Ford F-150 STX Regular Cab 2WD||$3,386|
|Ford Explorer XLT AWD||$3,420|
|Honda Odyssey EX||$3,590|
|Ford Edge SEL 2WD||$3,598|
|Chevrolet Impala LT||$3,625|
|Toyota RAV4 Limited 4WD||$3,631|
|Dodge Grand Caravan SXT||$3,659|
|Toyota Tacoma Double Cab 4WD||$3,668|
|Chevrolet Malibu LT||$3,659|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$3,737|
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Table data represents single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium costs do not factor in South Carolina location which can revise insurance rates considerably.
Looking at the rates, we can expect models like the Honda CR-V, Hyundai Elantra, and Ford Escape are most likely to be the most affordable vehicles to insure for teen drivers. The price of auto insurance will tend to be higher just due to the fact that there is more claim risk for 18 year olds, but in general those particular vehicles will probably have the cheapest rates compared to other vehicles.
For teen drivers, one of the more important factors that are looked at to determine insurance cost is the neighborhood you call home in South Carolina. More densely populated places like Florence, North Charleston, and Sumter tend to have more expensive auto insurance rates, whereas areas that tend to be more rural profit from lower rates.
The following table rates the most costly cities in South Carolina for 18 year olds to buy auto insurance in.
|Rank||City||Premium Per Year|
|14||Hilton Head Island||$1,139|
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Rates are approximated as the specific zip code location can increase or decrease price quotes greatly.
Finding a high-quality car insurance provider is hard considering how many choices drivers have in South Carolina. The information in the next section may help you pick which providers to look at when shopping insurance around for 18 year olds.
The rankings below are for companies with a national presence, so smaller companies are not factored into this list. To view rates from these and other competitive companies, click this link.
Top 10 Large Car Insurance Companies in South Carolina Ranked by A.M. Best Rating
- Travelers - A++
- USAA - A++
- GEICO - A++
- State Farm - A++
- Titan Insurance - A+
- Esurance - A+
- Progressive - A+
- Nationwide - A+
- The Hartford - A+
- Allstate - A+
Top 10 Large Car Insurance Companies in South Carolina Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Full coverage or liability only
Saving money on auto insurance is probably important to most vehicle owners, and one great way to pay less for insurance for 18 year olds in South Carolina is to only pay for liability coverage. The chart below illustrates the difference between auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no driving violations, no at-fault accidents, $100 deductibles, single status, and no additional discounts are factored in.
Averaged for all age groups, physical damage insurance costs $2,619 per year over having just liability coverage. That is a significant amount which raises the question when is it a good idea to stop buying full coverage. There is no set guideline of when to exclude full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let's pretend your vehicle's claim settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after the deductible is paid. If you are paying over $400 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some scenarios where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Tips for finding more affordable auto insurance for 18 year olds in South Carolina
The list below shows some of the better penny-pinching suggestions that can help South Carolina drivers locate lower-cost coverage.
- Bundle home or renters insurance to earn a discount on car insurance
- Safer vehicles cost less to insure
- Drive attentively and avoid accidents
- Don't waste money on full coverage for older vehicles
- Clean up your credit rating
- Compare rates often to find the best deal
That final tip is very valuable, as was emphasized in this article. Rates adjust often, so drivers shouldn't be resistant to buy a policy from a new company if a cheaper price is available.
Staying with the same car insurance company is fine, but it's not recommended if that faithfulness ends up costing you thousands of dollars over the life of your policy. It only takes a couple minutes to compare prices to find cheaper insurance for 18 year olds.