The words "affordable" and "insurance" probably shouldn't be used in the same sentence, specifically when shopping around for the best car insurance for high mileage drivers. Let's lead off by showing you a few of the factors that have an impact on insurance prices, and see how we can help you reduce the price of the next policy you buy.
The make and model of vehicle you are trying to insure is a significant factor when comparing quotes for economical insurance for high mileage drivers. Vehicles with higher performance, a lack of modern safety features, or high incidents of liability claims will cost significantly more to insure than safer models. The next table showcases car insurance premiums for the most cost-effective vehicles to insure in South Carolina.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$811|
|Honda CR-V EX-L 4WD||$829|
|Ford Escape Limited 4WD||$878|
|Ford Explorer XLT 4WD||$909|
|Dodge Grand Caravan Hero||$958|
|Ford F-150 Lariat Super Cab 2WD||$976|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$990|
|Toyota Camry SE||$1,007|
|Toyota Corolla S||$1,015|
|Ford Edge Limited AWD||$1,007|
|Chevrolet Equinox LTZ 2WD||$1,025|
|Chevrolet Malibu LTZ||$1,033|
|Nissan Altima Hybrid 4-Dr Sedan||$1,025|
|Volkswagen Jetta SE 4-Dr Sedan||$1,034|
|Honda Civic Hybrid 4-Dr Sedan||$1,025|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,043|
|Chevrolet Impala LS||$1,076|
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Premium 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, homeowner, multi-vehicle, and safe-driver. Premium amounts do not factor in specific location which can influence insurance rates significantly.
Looking at the rates, we can expect models like the Honda Accord, Honda CR-V, Ford Escape, and Ford Explorer are most likely to be some of the most economical vehicles to insure for high mileage drivers.
One of the many considerations that determine the price you pay for insurance is where you choose to live in South Carolina. Areas with high crime rates or more dense population like Goose Creek, Summerville, and Charleston are more likely to pay higher prices, whereas areas with less people or fewer weather incidents have the luxury of lower rates.
The next table rates the most costly cities in South Carolina for high mileage drivers to purchase car insurance in.
|11||Hilton Head Island||$1,173|
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Annual rates are estimated as the specific area where the vehicle is garaged can lower or raise coverage rates significantly.
Locating low-cost car insurance is not easy, and finding out which companies offer the cheapest insurance rates for high mileage drivers in South Carolina requires even more diligence. Every auto insurer has their own process to determine premium rates, so we need to take a look at the insurance companies that tend to have lower prices in South Carolina.
Best Insurance Companies in South Carolina
|Rank||Company||Cost Per Year|
|5||Southern Farm Bureau||$1,248|
|6||SC Farm Bureau Mutual||$1,260|
|7||National Grange Mutual||$1,361|
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The Hartford quotes some of the lowest car insurance rates in South Carolina at around $745 each year. USAA, State Auto, Auto-Owners, and Southern Farm Bureau also rank well as some of the most economical South Carolina auto insurance companies.
In this example, if you currently have coverage with USAA and switched to The Hartford, you might realize an annual premium reduction of roughly $270. Drivers with State Auto could save as much as $382 a year, and Auto-Owners insureds might reduce rates by $408 a year.
These premium estimates are averaged for all insureds and vehicles and are not factoring in a rate decrease for high mileage drivers. So the insurer that can offer the best rates for your situation may not even be in the top 18 companies in the list above. That helps illustrate why you need to get rate quotes using your own driver data and vehicle information.
Buying coverage from a highly-rated car insurance provider can be challenging considering how many companies sell insurance in South Carolina. The information below can help you decide which coverage providers to look at to insure your vehicles.
The ratings below only include the largest companies in the United States, so companies with more of a regional focus are not factored into the list. If you wish to compare rates from these and other top-rated companies, follow this link.
Top 10 Major Car Insurance Companies in South Carolina Ranked by Customer Satisfaction
- USAA - 91%
- AAA Insurance - 90%
- Esurance - 90%
- Nationwide - 89%
- Travelers - 88%
- Progressive - 88%
- Safeco Insurance - 88%
- State Farm - 88%
- Allstate - 88%
- The Hartford - 87%
Top 10 Major Car Insurance Companies in South Carolina Ranked by Customer Service
- AAA Insurance
- Safeco Insurance
- State Farm
- The Hartford
- The General
Rate comparison of full coverage and liability-only
Saving money when shopping for insurance is important to the majority of people, and an easy way to reduce the cost of insurance for high mileage drivers in South Carolina is to not buy comprehensive and collision coverage. The information below shows the difference between annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in South Carolina. The premiums assume a clean driving record, no claims, $100 deductibles, single marital status, and no additional discounts are factored in.
If the expense is averaged for all age categories, physical damage insurance costs an extra $1,957 per year over liability only. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no clear-cut rule of when to eliminate physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it's probably a good time to buy liability coverage only.
For example, let's pretend your vehicle's book value is $7,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $6,500 after paying the physical damage deductible. If you are paying more than $650 a year to have full coverage, then it might be time to buy liability only.
Why are you paying too much for South Carolina car insurance?
South Carolina insurance rates are calculated based on many things that will increase or decrease the cost of coverage. Turning one year older, moving to a new city, or getting a few speeding tickets can trigger changes in premium that can now make some companies cheaper in comparison to the competition. In addition, auto insurance companies change rates as needed to adjust for heavy claims or excess profits. Higher than normal claims may result in high rates, while a better loss history may cause cheaper South Carolina car insurance rates.
The graph below demonstrates which company has the cheapest car insurance in South Carolina for a 30-year-old female driver with a clear driving record, no claims, and great credit. Based on her current risk profile, The Hartford has the cheapest car insurance rates in South Carolina at $752 each year. This is $857 less than the average policy premium paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also make the list of the most affordable South Carolina auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison some claims, less-than-perfect credit, and a speeding ticket. Due to the fact that each insurance company has a different process for determining prices, comparing prices may result in a slightly different list of companies as shown below.
National Grange Mutual now has the best insurance rate in South Carolina with State Farm, Travelers, USAA, and The Hartford completing the list. This demonstrates why consumers need to perform a complete rate comparison when trying to get the cheapest insurance quotes for high mileage drivers.
Prices can be determined by many things and can change without notice, so the best price six months ago may now be one of the more expensive options.