The vehicle model to be insured is a large factor that determines if you can find the cheapest insurance for used cars. Vehicles with economical engines, an excellent safety record, or a positive history of liability claims will cost significantly less to insure than higher performance models.
The next list shows auto insurance premiums for a handful of the most budget-friendly automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$811|
|Honda Accord EX 4-Dr Sedan||$819|
|Ford Focus SE 4-Dr Sedan||$939|
|Toyota RAV4 Sport 4WD||$958|
|Toyota Camry LE||$965|
|Ford F-150 SVT Raptor Super Cab 4WD||$976|
|Honda CR-V EX 2WD||$994|
|Kia Optima LX||$1,027|
|Dodge Grand Caravan SE||$1,039|
|GMC Sierra 3500HD SLE Regular Cab 2WD||$1,043|
|GMC Sierra Denali Crew Cab 4WD||$1,095|
|Chevrolet Silverado LTZ Crew Cab 2WD||$1,104|
|Jeep Grand Cherokee Laredo 2WD||$1,097|
|Chevrolet Equinox LS 2WD||$1,107|
|Chevrolet Impala LT||$1,097|
|Toyota Tacoma 4WD||$1,111|
|Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD||$1,113|
|Ford Explorer Limited AWD||$1,117|
|Ford Edge SE AWD||$1,152|
|Hyundai Elantra SE 4-Dr Sedan||$1,154|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,168|
|Honda Odyssey Touring||$1,174|
|Start Your Quote Go|
Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate quotes do not factor in South Carolina location which can change coverage prices noticeably.
By looking at the data, we can conclude that models like the Ford Escape, Honda Accord, Ford Focus, and Toyota RAV4 are likely to be the most budget-friendly vehicles to insure for pre-owned vehicles.
Deciphering which company offers the lowest-priced car insurance rates for used cars in South Carolina may require more time in order to find the most economical policy. Every auto insurer uses a different method for setting prices, so let's take a look at the car insurance companies with the overall cheapest rates in South Carolina.
Find Cheaper Auto Insurance for Used Cars
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,248|
|6||Southern Farm Bureau||$1,248|
|7||National Grange Mutual||$1,375|
|Compare Rates Now Go|
The Hartford may offer some of the lowest car insurance rates in South Carolina at around $775 per year. This is $834 less than the average price paid by South Carolina drivers of $1,609. USAA, Auto-Owners, State Auto, and SC Farm Bureau Mutual also are some of the best South Carolina car insurance companies.
In the rate table above, if you are currently insured with SC Farm Bureau Mutual and switched to USAA, you may realize an annual savings of in the vicinity of $253. South Carolina drivers with Southern Farm Bureau could save as much as $253 a year, and National Grange Mutual policyholders might cut rates by $380 a year.
Be aware that those premium estimates are averages across all drivers and vehicles in South Carolina and are not factoring in a price decrease for used cars. So the auto insurance company that is best for you may not even be in the top 18 companies shown above. That underscores the importance of why you need to compare prices as often as possible using your own individual information.
Careless South Carolina drivers pay higher rates
The best way to receive good car insurance premiums for pre-owned vehicles is to drive cautiously and avoid at-fault accidents and violations. The information below highlights how traffic violations and at-fault fender-benders can raise auto insurance costs for different age groups. Data assumes a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
In the chart above, the average cost of an auto insurance policy in South Carolina per year with a clean driving record and no accidents is $1,857. Get written up for one speeding ticket and the average cost jumps to $2,135, an increase of $278 each year. Then include one accident along with the one speeding ticket and the annual cost of car insurance for used cars in South Carolina jumps again to an average of $2,912. That's an increase of $1,055, or $88 per month, just for not maintaining a clean driving record!
Full coverage versus liability only rates
Saving money on car insurance is probably important to most vehicle owners, and one common way to pay lower rates for insurance for used cars in South Carolina is to only buy liability coverage. The diagram below shows the comparison of insurance rates with full coverage and liability only. The premium estimates are based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs $1,957 per year more than carrying just liability coverage. A very common question is if paying for full coverage is a waste of money. There is no set rule of when to exclude full coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let's pretend your vehicle's claim settlement value is $7,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,500 after the deductible is paid. If you are currently paying more than $650 annually for physical damage coverage, then it could be time to drop full coverage.
There are a few cases where only buying liability is not advised. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should not eliminate full coverage.
Types of discounts on South Carolina insurance rates
Insurers that provide coverage for used cars could also offer price discounts that can reduce rates by 30% or more if you are eligible to receive them. The best car insurance companies and some of their more popular discounts are outlined below.
- American Family has discounts for air bags, defensive driver, bundled insurance, accident-free, and good student.
- State Farm may include discounts for safe vehicle, driver's education, good student, Steer Clear safe driver discount, and accident-free.
- 21st Century discounts include teen driver, homeowners, good student, theft prevention, 55 and older, automatic seat belts, and driver training.
- Travelers offers discounts including new car, driver training, student away at school, hybrid/electric vehicle, good student, home ownership, and save driver.
- GEICO has savings for driver training, good student, anti-theft, anti-lock brakes, daytime running lights, multi-policy, and air bags.
The information below visualizes the comparison of car insurance rates with and without discounts being applied to the rates. The rates are based on a female driver, no claims or violations, South Carolina state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, multiple policy, passive restraint, homeowner, and defensive driving course discounts applied. When discounts are factored in, the average savings per year on car insurance for used cars is 28% or $641.