How many times have you put off comparing quotes for more competitive insurance rates in Myrtle Beach, SC? Are you irritated from not being able to afford each month for insurance? Your situation is no different than many other South Carolina consumers.
Regrettably, nearly 70% of drivers kept their policy with the same company for four years or more, and approximately 38% of consumers have never compared quotes from other companies. Most drivers in South Carolina can cut their rates by approximately 55% a year by just comparing rate quotes, but most tend to underestimate the actual amount they would save if they switched.
You have multiple car insurance companies to pick from, and although it's nice to have multiple companies, it makes it harder to find a good deal.
Finding quotes for affordable auto insurance coverage in Myrtle Beach is easy if you know what you're doing. Practically each driver who buys auto insurance stands a good chance to be able to find better rates. But South Carolina consumers do need to learn the way insurance companies determine premium rates because it varies considerably.
How to compare auto insurance price quotes in Myrtle Beach, South Carolina
Just remember that making a lot of price comparisons helps locate a better price.
The providers in the list below offer price quotes in South Carolina. If several companies are displayed, we recommend you get rate quotes from several of them to get the cheapest price.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Crew Cab 2WD||$1,298||$649||$108|
|Chevrolet Equinox LTZ 2WD||$1,230||$615||$103|
|Chevrolet Impala LS||$1,298||$649||$108|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,334||$667||$111|
|Dodge Ram Quad Cab Laramie 4WD||$1,652||$826||$138|
|Ford Escape Limited 2WD||$812||$406||$68|
|Ford F-150 FX4 4WD||$1,098||$549||$92|
|Ford Focus SES 4-Dr Sedan||$836||$418||$70|
|Ford Fusion SEL AWD 4-Dr Sedan||$1,430||$715||$119|
|Honda Accord EX 4-Dr Sedan||$1,144||$572||$95|
|Honda CR-V EX-L 2WD||$900||$450||$75|
|Honda Civic SI 4-Dr Sedan||$1,358||$679||$113|
|Hyundai Sonata GLS 4-Dr Sedan||$1,290||$645||$108|
|Jeep Grand Cherokee Laredo 2WD||$812||$406||$68|
|Kia Optima LX||$966||$483||$81|
|Nissan Altima 3.5 SR 2-Dr Coupe||$968||$484||$81|
|Toyota Camry XLE||$956||$478||$80|
|Toyota Corolla XLE||$1,286||$643||$107|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Price estimates do not factor in your specific Myrtle Beach location which can revise coverage prices significantly.
How accidents and violations affect rates
The example below shows how traffic citations and at-fault collisions increase Chevrolet Malibu insurance costs for each age group. The premiums assume a married male driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
Rate comparison of full coverage and liability-only
The illustration below illustrates the comparison of GMC Acadia insurance premiums with full coverage and liability only. The rates are based on no accidents or driving violations, $1,000 deductibles, married male driver, and no discounts are applied to the premium.
GMC Acadia rates are for example purposes only. To get rates for your specific vehicle, click here.
When to buy liability coverage only
There isn't a written rule of when to phase out comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let's say your GMC Acadia claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after the deductible is paid. If premium cost is more than $800 a year for your policy with full coverage, then you might consider buying liability only.
There are a few situations where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Myrtle Beach insurance rates by age and gender
The illustration below shows the difference between insurance costs for male and female drivers in Myrtle Beach. The costs are based on no violations or accidents, comprehensive and collision coverage, $100 deductibles, drivers are single, and no other discounts are factored in on a Ford Focus SE.
Ford Focus rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
Get cheaper rates on auto insurance with these auto insurance discounts
Car insurance is not cheap, but discounts can save money and there are some available that could help you make your next renewal payment. Some trigger automatically when you get a quote, but lesser-known reductions have to be asked about before they will apply.
- Distant Student Discount - Older children who are enrolled in higher education away from home and won't have access to an insured vehicle could get you a discount.
- Discounts for Safe Drivers - Drivers who avoid accidents can pay as much as 50% less compared to accident prone drivers.
- Accident Forgiveness - This one isn't a discount, but some insurance companies allow you one accident before they charge you more for coverage if you are claim-free for a set time period.
- Payment Method - By paying your policy upfront instead of making monthly payments you can actually save on your bill.
- ABS Braking Discount - Vehicles that have steering control and anti-lock brakes are much safer to drive and will save you 10% or more.
- E-sign - A handful of auto insurance companies will discount your bill up to fifty bucks shop Myrtle Beach auto insurance on your computer.
- Driver's Education for Students - Make teen driver coverage more affordable by requiring them to participate in a local driver's education class if it's offered in school.
- Club Memberships - Affiliation with specific professional or occupational memberships or organizations is a simple method to lower premiums on your bill.
- Senior Discount - Drivers over the age of 55 could receive a slight reduction on a Myrtle Beach auto insurance quote.
It's important to note that some of the credits will not apply to all coverage premiums. Some only reduce individual premiums such as medical payments or collision. So even though it sounds like it's possible to get free car insurance, you won't be that lucky.
A list of auto insurance companies and some of the discounts can be found below.
- 21st Century has discounts for homeowners, teen driver, automatic seat belts, good student, and theft prevention.
- State Farm offers discounts for passive restraint, student away at school, anti-theft, good driver, and Steer Clear safe driver discount.
- AAA discounts include good student, anti-theft, multi-policy, education and occupation, and AAA membership discount.
- Liberty Mutual may include discounts for teen driver discount, newly retired, new graduate, hybrid vehicle, exclusive group savings, good student, and preferred payment discount.
- Progressive may offer discounts for multi-vehicle, online quote discount, homeowner, good student, online signing, multi-policy, and continuous coverage.
When getting free Myrtle Beach auto insurance quotes, it's a good idea to all the companies which discounts you may be entitled to. Some of the earlier mentioned discounts might not apply in every state. If you would like to see a list of companies that offer some of these discounts in South Carolina, follow this link.
Local Myrtle Beach car insurance agents and car insurance
Certain consumers would prefer to get advice from a local agent and that can be a smart move The best thing about comparing car insurance online is the fact that you can find lower rates and still choose a local agent. Buying insurance from small agencies is still important in Myrtle Beach.
Once you complete this simple form, your insurance data is instantly submitted to local insurance agents in Myrtle Beach that provide free Myrtle Beach auto insurance quotes to get your business. It simplifies rate comparisons since you won't have to contact any agents because quoted prices will be sent immediately to you. You can find the lowest rates and a licensed agent to talk to. If you want to compare rates from a particular provider, you just need to visit that company's website and fill out their quote form.
If you would like to find a good insurance agency, there are a couple of types of insurance agents and how they are slightly different. Agents in Myrtle Beach may be either independent or exclusive depending on the company they work for.
Independent agencies are not restricted to one company so as a result can place your coverage with lots of companies enabling the ability to shop coverage around. If premiums increase, your policy is moved internally and you stay with the same agent.
If you are trying to find cheaper rates, you will want to include price quotes from a couple of independent agencies for the best price selection.
Exclusive Insurance Agents
Agents that elect to be exclusive work for only one company and some examples include Allstate and State Farm. They usually cannot provide other company's prices so keep that in mind. Exclusive agents are trained well on sales techniques which helps them sell on service rather than price.
Choosing the best insurance agency should depend on more than just a low price. These are valid questions to ask:
- If independent agents, which companies do they recommend?
- Is the agency involved in supporting local community causes?
- Has the agent ever had any license suspensions?
- How long have they been in business?
- How would your car be valued if totalled?
After talking to the agent and getting good responses to these questions and affordable Myrtle Beach auto insurance quotes, it's a good possibility that you have found a car insurance agent that is a good match to properly service your car insurance policy. Keep in mind it's your policy and you can cancel a policy whenever you want so never feel that you are permanently stuck with the car insurance policy with no way to switch.
How insurance companies determine car insurance rates
Multiple criteria are taken into consideration when you quote your car insurance policy. A few of the factors are predictable like your driving record, but others are less obvious such as your credit history or your commute time.
The list below includes some of the items used by your company to calculate prices.
Responsible credit scores equal low rates - Having a bad credit score is a large factor in determining your rates. Insureds with good credit tend to be better risks to insure than drivers who have lower credit scores. If your credit history leaves room for improvement, you could save money insuring your vehicle by spending a little time repairing your credit.
Is insurance coverage cheaper for females or males? - Statistics have proven that women are safer drivers than men. However, this does not mean women are better drivers. Both genders cause accidents at a similar rate, but males cause more damage. Men also have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Male teenagers tend to get in the most accidents so it costs more to insure them.
Having a spouse is a bonus - Walking down the aisle can actually save you money compared to being single. Having a significant other demonstrates that you tend to be more financially stable and insurance companies reward insureds because married drivers tend to file fewer claims.
Additional coverages that may be costing you - There are a lot of extra coverages that can add up when buying car insurance. Things like replacement cost coverage, towing coverage, and extra life insurance coverage are probably not needed. You may think they are a good idea when deciding what coverages you need, but your money might be better spent on other coverage so think about removing them and cutting costs.
Alarms and GPS tracking lower car insurance rates - Selecting a car model with anti-theft technology or alarm system can get you a discount on your car insurance. Theft prevention devices like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all help stop auto theft and help lower rates.
Does your job raise your premiums? - Do you have a high-stress occupation? Occupational choices like real estate brokers, business owners and dentists tend to pay higher premiums than the average policyholder because of stressful work requirements and long work hours. Conversely, careers such as scientists, engineers and retirees have the lowest average rates.
More performance means more cost - The performance of the vehicle you need insurance for makes a big difference in how high your rates are. Low performance passenger vehicles usually have the lowest rates, but that's not the only thing that factors into the final price.
Choosing the best vehicle insurance in South Carolina is an important decision
Despite the high insurance cost in Myrtle Beach, insuring your vehicle may be required for several reasons.
First, the majority of states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability coverage in order to be legal. In South Carolina these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if your vehicle has a loan, it's most likely the lender will have a requirement that you carry insurance to guarantee loan repayment. If you do not keep the policy in force, the lender will be forced to insure your vehicle for a lot more money and force you to pay for the much more expensive policy.
Third, insurance protects not only your vehicle but also your assets. It also can pay for medical bills for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to have it repaired.
The benefits of having insurance are without a doubt worth the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is wasting up to $869 every year so we recommend shopping around every year to save money.
Compare but don't skimp
Lower-priced auto insurance in Myrtle Beach is available online in addition to local insurance agencies, and you should compare price quotes from both to get a complete price analysis. Some companies may not provide the ability to get quotes online and usually these smaller companies only sell coverage through independent agents.
When getting Myrtle Beach auto insurance quotes online, make sure you don't buy poor coverage just to save money. There have been many cases where an accident victim reduced collision coverage only to find out they didn't have enough coverage. Your goal is to purchase plenty of coverage at the best price while not skimping on critical coverages.
You just learned some good ideas how you can get a better price on auto insurance in Myrtle Beach. The key thing to remember is the more price quotes you have, the higher the chance of saving money. You may even find the most savings is with a small mutual company. Regional companies often have lower car insurance rates on specific markets than the large multi-state companies such as Allstate, GEICO and Progressive.
More detailed auto insurance information is available by following these links:
- Auto Insurance Basics (Insurance Information Institute)
- Who Has Cheap South Carolina Auto Insurance for a Toyota Corolla? (FAQ)
- How Much is Auto Insurance for Drivers Under 25 in South Carolina? (FAQ)
- How Much is South Carolina Auto Insurance for a Ford Fusion? (FAQ)
- What Auto Insurance is Cheapest for Postal Workers in South Carolina? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Choosing a Car for Your Teen (State Farm)