Life would sure be easier if we could just give you the name of the one company in South Carolina that has the rock bottom lowest rates for drivers with good credit in South Carolina. It's not that easy, however, as there are many unknown factors like if you are married, your date of birth, the number of miles you drive in a year, and if you have ever had a gap in coverage. We will try to cover these types of topics and will give you a good start in finding the cheapest car insurance for high credit.
The make and model of vehicle requiring coverage is a large factor that determines whether or not you find low-priced coverage for drivers with good credit. Vehicles with lower acceleration and performance, a great safety record, or low incidents of liability claims will cost less to insure than higher performance models.
The information below features insurance premiums for the cheapest automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$829|
|Jeep Wrangler Rubicon 4WD 2-Dr||$909|
|Dodge Grand Caravan SE||$915|
|Ford Focus S 4-Dr Sedan||$939|
|Chevrolet Impala LT||$958|
|Ford Fusion S 4-Dr Sedan||$968|
|Ford F-150 Lariat Super Cab 2WD||$976|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$985|
|Ford Escape XLS 2WD||$994|
|Ford Edge SE AWD||$1,076|
|Honda Accord LX-S 2-Dr Coupe||$1,083|
|Kia Optima EX||$1,095|
|Hyundai Sonata Limited 4-Dr Sedan||$1,103|
|Toyota RAV4 Sport 2WD||$1,097|
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Table data does not factor in vehicle garaging location which can affect premiums significantly.
Looking at the numbers, we can expect vehicles like the Honda CR-V, Toyota Prius, and Jeep Wrangler will be a few of the most affordable vehicles to insure for financially responsible drivers.
Deciding which companies quote the cheapest car insurance rates for drivers with good credit in South Carolina requires a bit more effort than just getting one or two price quotes. Each auto insurer used slightly different criteria to establish rates, so we will examine the most budget-friendly car insurance companies in South Carolina.
We do need to point out that South Carolina car insurance rates are determined by lots of factors which can substantially change your annual premium. Simply having a birthday, increasing liability limits, or getting a driving violation may generate price changes that can now make some companies cheaper than before.
Best Insurance Companies for High Credit
|Rank||Company||Cost Per Year|
|5||Southern Farm Bureau||$1,286|
|6||SC Farm Bureau Mutual||$1,298|
|8||National Grange Mutual||$1,375|
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The Hartford offers some of the best car insurance rates in South Carolina at around $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 Southern Farm Bureau also are some of the most economical South Carolina insurance companies.
As shown above, if you currently buy coverage from Auto-Owners and switched to The Hartford, you might achieve a yearly price reduction of in the vicinity of $389. Customers with Southern Farm Bureau might save as much as $534 a year, and SC Farm Bureau Mutual insureds might lower prices by $546 a year.
Understand that those premiums are averages across all drivers and vehicles in South Carolina and and are not calculated with a rate decrease for drivers with good credit. So the company that has the cheapest rates for you may not even be in the list above. That helps illustrate why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
One of the many factors that determine car insurance rates is where you keep your car in South Carolina. Areas with more people or higher crime rates like Goose Creek, North Charleston, and Florence are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive slightly lower rates.
The following table ranks the most expensive areas in South Carolina for drivers with good credit to purchase car insurance in.
|12||Hilton Head Island||$1,173|
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Annual rates are approximated as specific South Carolina garaging address can influence insurance rates greatly.
The information below highlights how deductible selection can impact insurance prices when researching cheap insurance for drivers with good credit in South Carolina. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could lower their car insurance rates by $280 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $420 by choosing a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could save as much as $692 annually by selecting a higher deductible. If you make the decision to raise deductibles, it will be required to have plenty of money set aside to allow you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Does it make sense to buy full coverage?
Finding the cheapest car insurance is important to the majority of drivers, and a good way to lower the cost of insurance for drivers with good credit in South Carolina is to only buy liability insurance. The diagram below illustrates the difference between yearly insurance costs with full coverage compared to only the South Carolina minimum liability coverage. The premiums assume a clean driving record, no claims, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
If averaged for all ages, full coverage costs an additional $1,435 per year over and above liability only. That raises the question if you should buy full coverage at all. There is no written rule to drop comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of the vehicle's replacement cost less your deductible, then it's probably a good time to buy liability coverage only.
For example, let's assume your vehicle's replacement cost is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $10,500 after the deductible is paid. If premiums are more than $1,050 annually for physical damage coverage, then it may be the right time to buy liability only.
How to find cheaper auto insurance for drivers with good credit
Lowering your rates is not difficult, and here are some of the better thrifty ideas that can help drivers locate more affordable coverage.
- Having too many claims will increase rates substantially
- Buy a safer vehicle
- Avoid getting tickets or violations
- Being accident-free can lower rates significantly
- Maintaining good credit helps earn cheaper rates
- Shop your coverage around for the best deal
The last tip is extraordinarily significant, as we hit on in this article. Prices charged by car insurance companies can change significantly in a year, so don't be unwilling to change insurance companies if you find a better deal.
We understand brand loyalty, but we do not recommend it if that loyalty ends up costing lots of money. Take a few minutes and shop around and find cheaper auto insurance for drivers with good credit.