Locating cost effective car insurance is hard enough, and finding out which companies offer the lowest-priced insurance rates after a speeding ticket in South Carolina will take more quotes for comparison. Every insurance provider has a different formula to set policy rates, so let's take a look at the lowest cost insurance companies in South Carolina.
Keep in mind that South Carolina insurance rates are impacted by many factors that control the price you pay for coverage. Events like turning one year older, buying a safer car, or getting into an accident may prompt premium changes that can cause some rates to be cheaper than competitors.
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|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,286|
|6||Southern Farm Bureau||$1,286|
|8||National Grange Mutual||$1,375|
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The Hartford generally has some of the best car insurance rates in South Carolina at around $745 per year. This is $864 less than the average rate paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also are some of the most economical South Carolina auto insurance companies.
As the example above demonstrates, if you are a policyholder with Auto-Owners and switched to USAA, you might see an annual savings of about $116. Policyholders with SC Farm Bureau Mutual could save as much as $261 a year, and Southern Farm Bureau policyholders might realize rate reductions of up to $261 a year.
These premium estimates are averaged across all types of insureds and vehicles and are not factoring in a price discount after a speeding ticket. So the insurer that has the lowest price for you may not even be in the top 18 companies shown above. That point stresses why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
The type of vehicle you are seeking coverage for is one of the largest considerations when comparison shopping for economical coverage after a speeding ticket. Vehicles with high performance, poor safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer models.
The table below shows coverage costs for the most budget-friendly vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,195|
|Volkswagen Jetta S 2.5 Station Wagon||$1,270|
|Ford Escape XLT 2WD||$1,274|
|Honda Odyssey LX||$1,280|
|Ford Explorer XLT 2WD||$1,307|
|Ford Edge SE 2WD||$1,366|
|Toyota RAV4 Sport 2WD||$1,382|
|Toyota Tacoma 4WD||$1,395|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,401|
|Chevrolet Malibu LT||$1,409|
|Hyundai Elantra SE 4-Dr Sedan||$1,460|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,469|
|Chevrolet Impala LTZ||$1,460|
|Jeep Grand Cherokee Laredo 4WD||$1,478|
|Nissan Rogue S 2WD||$1,480|
|Ford F-150 Lariat King Ranch 2WD||$1,487|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,495|
|Dodge Grand Caravan Crew||$1,542|
|Toyota Camry SE||$1,585|
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Premium data assumes single male driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, and claim-free. Table data does not factor in South Carolina location which can affect rates greatly.
Looking at the data, we can infer that cars like the Honda CR-V, Volkswagen Jetta, Ford Escape, Honda Odyssey, and Ford Explorer are the cheaper vehicles to insure after a few driving violations.
One of the many components that determine the annual cost of car insurance is the neighborhood you call home in South Carolina. Areas with a lot of weather claims or more people like North Charleston, Florence, and Charleston tend to pay slightly more, whereas less populated areas have the luxury of cheap car insurance rates.
The table below sorts the most expensive cities in South Carolina after a speeding ticket to purchase a policy in.
|Rank||City||Premium Per Year|
|12||Hilton Head Island||$1,162|
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Premium amounts are approximated as the vehicle garaging location can decrease or increase price quotes greatly.
How to get discounts on South Carolina car insurance rates
Insurance companies that sell policies after a speeding ticket may also give you price discounts that could lower prices by 25% or more if you can meet the requirements. A few popular companies and some of the premium reductions they offer are detailed below.
- The Hartford discounts include driver training, vehicle fuel type, anti-theft, good student, and air bag.
- American Family may include discounts for defensive driver, accident-free, bundled insurance, good driver, good student, and TimeAway discount.
- Progressive offers premium reductions for continuous coverage, multi-vehicle, online quote discount, homeowner, good student, and multi-policy.
- Travelers offers discounts for hybrid/electric vehicle, multi-car, payment discounts, IntelliDrive, good student, and early quote.
- Farmers Insurance has savings for early shopping, pay in full, electronic funds transfer, youthful driver, business and professional, good student, and distant student.
- USAA may have discounts that include multi-policy, safe driver, defensive driver, good student, new vehicle, multi-vehicle, and loyalty savings.
- Liberty Mutual may offer discounts for teen driver discount, multi-car, hybrid vehicle, newly married, newly retired, and exclusive group savings.
The diagram below shows the comparison of auto insurance rates with and without discounts applied to the policy premium. Data assumes a female driver, no accidents and three traffic tickets, South Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multiple vehicle, vehicle safety, passive restraint, anti-theft, multiple policy, and paperless filing discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on insurance after a speeding ticket is 28% or $626.
How accidents and tickets impact rates
The ideal way to get affordable insurance prices after a few driving violations is to be a safe driver and avoid accidents and traffic violations. The example below illustrates how traffic citations and fender-benders can impact premium costs for different age groups of insureds. The prices are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
The data in the chart shows the average cost of car insurance in South Carolina per year with no violations or accidents is $1,533. Add in two speeding tickets and the average cost hikes up to $2,048, an increase of $515 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance after a speeding ticket in South Carolina jumps again to an average of $4,060. That's an increase of $2,527, or $211 per month, just for not being attentive to the road!
The benefit of shopping around
South Carolina insurance rates are based on many factors which can substantially decrease or increase the price of coverage. Improving your credit score, getting divorced, or getting a ticket for careless driving may prompt premium changes resulting in some rates now being cheaper than others. Additionally, insurers file new South Carolina auto insurance rates every year or even multiple times each year to adjust for gains or losses. Heavier than normal losses can result in more expensive premiums, while better underwriting can cause lower-priced South Carolina car insurance rates.
The bar chart below shows which companies have the cheapest car insurance in South Carolina for a 35-year-old male driver with no violations or accidents, and a high credit rating. When quoting prices based on his current risk profile, The Hartford may have the lowest car insurance rates in South Carolina at $752 each year. This is $857 less than the average rate paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual are also included in the most affordable South Carolina auto insurance companies.
In this example, we will give the driver from the first example a claim, a little lower credit rating, and a stop sign violation. Because each insurer has a different process to determining premium rates, comparing quotes may now present a new list of affordable companies as shown below.
National Grange Mutual now has the best insurance rate in South Carolina with USAA, Travelers, State Farm, and The Hartford completing the list. This example illustrates why consumers need to take the time to perform a complete rate comparison when trying to find affordable car insurance quotes after a speeding ticket. Auto insurance prices are made up of many risk factors and can change substantially, so the lowest-price company when you last compared rates may now be quite expensive.
How to find economical car insurance after a speeding ticket
It is possible to find better rates, and here are some thrifty ideas that can help you locate low-cost coverage.
- Serious violations like DUI or reckless driving can increase rates dramatically
- Buy a vehicle with excellent safety ratings
- Higher physical damage deductibles lower rates
- Don't waste money on full coverage for older vehicles
- Good credit can help you save money
- Avoid having at-fault accidents
- Compare rate quotes often
The last tip in the list is extraordinarily critical, as was affirmed in this write-up. Prices charged by auto insurers change frequently, so don't hesitate to buy a policy from a new company if a lower price can be found. Brand loyalty is great, but we do not recommend it if your bullheadedness ends up costing you hundreds every year. Now is a great time to compare prices and find cheaper car insurance after a speeding ticket.