The vehicle you are insuring is one of the main factors that determines whether or not you find cheaper insurance for 20 year old guys. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of liability claims will cost significantly less to insure than adrenaline junky models. The information below features auto insurance rates for a number of the cheapest automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,126|
|Honda Accord LX 4-Dr Sedan||$2,134|
|Honda CR-V EX-L 2WD||$2,156|
|Honda Odyssey LX||$2,334|
|Jeep Wrangler Rubicon 4WD 2-Dr||$2,365|
|Chevrolet Impala LS||$2,493|
|Honda Civic DX 4-Dr Sedan||$2,502|
|Ford Edge SEL 2WD||$2,493|
|Toyota Tacoma 2WD||$2,501|
|Toyota RAV4 Sport 4WD||$2,524|
|Jeep Grand Cherokee Laredo 2WD||$2,532|
|Ford Fusion S 4-Dr Sedan||$2,524|
|GMC Sierra SLE Crew Cab 2WD||$2,530|
|Chevrolet Equinox LT 2WD||$2,524|
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Price data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in specific South Carolina garaging location which can decrease or increase coverage rates greatly.
Based upon the rates shown, makes and models like the Ford Escape, Honda Accord, Honda CR-V, Honda Odyssey, and Toyota Prius are most likely to be a few of the less-costly vehicles to insure for young men. The price for an auto insurance policy will tend to be more expensive just because there is more exposure for 20 year old guys, but generally speaking those makes and models will tend to have the cheapest car insurance rates available.
For young men, one of the more important criteria that determine auto insurance rates is your zip code in South Carolina. Regions with more people or even just more weather-related claims like Florence, Summerville, and Charleston tend to have higher rates, whereas areas with less crime or weather claims benefit from lower coverage costs.
The information below lists the most expensive areas in South Carolina for 20 year old guys to buy auto insurance in.
|12||Hilton Head Island||$1,173|
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Annual rates are comparative as specific South Carolina zip code can change coverage prices significantly.
Establishing which company has the most affordable insurance rates for 20 year old guys in South Carolina will take a little more effort thank just comparing rates from one or two companies. Every insurance company uses different criteria to set premium rates, so we need to take a look at the insurance companies with the overall best prices in South Carolina.
Find the Cheapest Auto Insurance for Men Age 20
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,260|
|6||Southern Farm Bureau||$1,260|
|7||National Grange Mutual||$1,321|
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The Hartford normally has some of the best car insurance rates in South Carolina at around $752 each year. This is $857 less than the average premium paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual are also some of the lowest-priced South Carolina car insurance companies.
As shown in the table above, if you currently have coverage with SC Farm Bureau Mutual and switched to USAA, you could earn yearly savings of upwards of $245. Policyholders with Southern Farm Bureau may save as much as $245 a year, and National Grange Mutual customers might realize rate reductions of up to $306 a year.
To get a quick, customized rate comparison, click here to start your free quote or click several companies below for low rates.
Be aware that those premiums are averaged for all types of drivers and the different vehicles they drive and are not factoring in a rate surcharge for 20 year old guys. So the car insurance company that fits your age and vehicle best may not even be in the list above. That illustrates why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.
The diagram below shows how choosing a deductible can affect premium costs when getting quotes for cheap insurance for 20 year old guys in South Carolina. The data assumes a married female driver, full coverage, and no discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $236 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $354 by switching to a $1,000 deductible. Young drivers, such as the 20-year-old example, could lower their rates as much as $580 annually just by using higher deductibles.
When increasing deductibles, it is a good idea to have plenty of savings on hand to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Types of discounts on South Carolina car insurance rates
Insurance companies that provide policies for 20 year old guys may provide special discounts that can lower rates by as much as 30% if you qualify for them. A list of insurance companies and a partial list of their discounts are shown below.
- GEICO offers premium reductions for five-year accident-free, multi-policy, daytime running lights, military active duty, and emergency military deployment.
- Travelers has discounts for hybrid/electric vehicle, multi-policy, student away at school, continuous insurance, and good student.
- Nationwide discounts include defensive driving, Farm Bureau membership, accident-free, business or organization, anti-theft, and multi-policy.
- Farmers Insurance has savings for youthful driver, business and professional, alternative fuel, switch companies, teen driver, and electronic funds transfer.
- Esurance offers discounts for anti-theft, emergency road assistance, renters, claim free, and Pac-12 alumni.
- State Farm may offer discounts for multiple autos, accident-free, safe vehicle, passive restraint, and defensive driving training.
- Progressive offers discounts including homeowner, continuous coverage, multi-vehicle, online quote discount, and online signing.
- Mercury Insurance policyholders can earn discounts including annual mileage, ease of repair, anti-theft, low natural disaster claims, type of vehicle, accident-free, and professional/association.
The chart below compares yearly insurance costs with and without policy discounts. The price estimates are based on a female driver, no accidents, no driving violations, South Carolina state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with passive restraint, paid-in-full, paperless filing, continuous coverage, vehicle safety, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for 20 year old guys is 21% or $395.
Cost comparison with and without full coverage
Buying cheaper insurance should be important to the majority of vehicle owners, and one common way to save on the cost of insurance for 20 year old guys in South Carolina is to only buy liability coverage. The diagram below compares car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in South Carolina. The premiums assume no driving violations, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
If we average all the age groups together, full coverage on your policy costs $1,553 per year more than just insuring for liability. At some point, every insured wonders if physical damage coverage is worth the money. There isn't a steadfast formula to stop buying physical damage insurance, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let's say your vehicle's settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying your deductible. If it's costing you more than $500 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
Tips for finding the cheapest car insurance for 20 year old guys in South Carolina
Here are a few thrifty solutions that can help South Carolina drivers quote more affordable auto insurance.
- Buying car and homeowners insurance together can save money
- Drop full coverage on older vehicles
- Pay cheaper rates with good credit scores
- The safer your car, the less it costs to insure
- Avoid at-fault accidents and claims
- Compare rate quotes often
That final tip is very valuable, as we stressed in this article. Prices change frequently, so drivers shouldn't be reluctant to buy from a new company if a cheaper price is available.
Being loyal to a particular company is commendable, but is isn't recommended if that loyalty ends up costing money that could be used for better things. If you have a few minutes, now is a great time to compare rates to find cheaper insurance for 20 year old guys.