It would sure be easy if we could simply tell you the one car insurance company that has the cheapest rate quotes for drivers requiring a SR22 in South Carolina. It's not that easy, however, as there are a whole bunch of unknown factors like if you need full coverage or liability-only, the number of miles you drive each year, what physical damage coverage deductibles you want, and if you have any driving citations, that all have an effect on the price of a policy. This article covers the things that influence insurance rates and will hopefully give you a solid foundation to find cheaper car insurance for SR22 drivers.
One of the more important things that are used to help calculate the amount you pay each year for auto insurance is where you keep your vehicle. Areas with more people or even just a higher incidence of claims like Florence, Goose Creek, and Summerville will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims profit from lower rates.
The information below shows the most expensive places in South Carolina for drivers requiring a SR22 to purchase a policy in.
|Rank||City||Average Per Year|
|12||Hilton Head Island||$1,173|
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Price information shown is estimated as the specific garaging location can raise or lower auto insurance rates substantially.
The type of vehicle requiring insurance is a significant factor when trying to find the most economical car insurance for drivers requiring a SR22. Vehicles with lots of speed or power, poor safety features, or a history of substantial liability claims will cost significantly more to insure than more modest models.
The list below estimates auto insurance rates for some of the cheapest vehicles to insure in South Carolina.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$3,043|
|Honda CR-V LX 4WD||$3,048|
|Volkswagen Jetta S 2.5 Station Wagon||$3,212|
|Ford F-150 XLT Regular Cab 4WD||$3,449|
|Dodge Grand Caravan CV||$3,454|
|Toyota Tacoma 2WD||$3,563|
|Ford Fusion S 4-Dr Sedan||$3,567|
|Chevrolet Malibu LS||$3,577|
|Chevrolet Impala LT||$3,567|
|Toyota RAV4 Limited 2WD||$3,576|
|Hyundai Elantra Blue 4-Dr Sedan||$3,590|
|Ford Explorer Limited AWD||$3,604|
|Ford Edge Limited AWD||$3,623|
|Honda Odyssey EX-L W/Navigation||$3,633|
|Toyota Corolla LE||$3,623|
|GMC Sierra SLT Extended Cab 2WD||$3,655|
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Data assumes single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Rate quotes do not factor in South Carolina location which can affect rates considerably.
Based upon the table data, we can infer that models like the Ford Escape, Honda CR-V, Volkswagen Jetta, Toyota Prius, and Ford F-150 will be a few of the cheaper vehicles to insure for high risk drivers. Car insurance rates will be more costly just because there is more claim risk for drivers requiring a SR22, but overall those makes and models will most likely have the cheapest rates possible.
Finding out which companies quote the most affordable insurance rates for drivers requiring a SR22 in South Carolina involves a tad more effort than just picking a company at random. Every insurance company has a proprietary formula for filing rates in each state, so to begin we'll rank the insurance companies that tend to have lower prices in South Carolina.
It's important to understand that South Carolina insurance rates are influenced by many factors that can increase the price you pay for coverage. Simply turning a year older, buying a home instead of renting, or having a fender bender may generate price changes that can cause some rates to be cheaper than competitors.
Find the Best Cheap Insurance for SR22 Drivers
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,286|
|6||Southern Farm Bureau||$1,286|
|7||National Grange Mutual||$1,321|
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The Hartford generally has some of the most affordable car insurance rates in South Carolina at around $745 per year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also are some of the cheaper South Carolina auto insurance companies.
As shown in the table above, if you are insured with USAA and switched to The Hartford, you could earn savings of upwards of $270. Policyholders with State Auto might save as much as $349 a year, and Auto-Owners insureds might realize rate reductions of up to $374 a year.
To get a quick, customized rate comparison, click here to get a free quote or click several companies below for low rates.
These policy rates are averaged for all drivers and vehicles and do not take into consideration a rate surcharge for drivers requiring a SR22. So the insurer that fits your needs best may not even be in the list above. That's why you need to get rate quotes using your own driver information and specific vehicle type.
Get discount South Carolina car insurance rates
Car insurance companies that provide coverage for drivers requiring a SR22 may provide rate discounts that could reduce prices by as much as 30% if you meet eligibility requirements. Larger insurance companies and a partial list of their discounts are outlined below.
- GEICO includes discounts for military active duty, air bags, driver training, emergency military deployment, membership and employees, and anti-lock brakes.
- Mercury Insurance offers discounts for good driver, multi-policy, low natural disaster claims, multi-car, and anti-theft.
- Farmers Insurance may include discounts for multi-car, early shopping, pay in full, bundle discounts, and good student.
- Auto-Owners Insurance may have discounts that include anti-theft, paperless, multiple vehicles, multi-policy, safe driver, and good student.
- Liberty Mutual has savings for teen driver discount, multi-car, new move discount, multi-policy, and hybrid vehicle.
- SAFECO may offer discounts for bundle discounts, teen safety rewards, multi-car, homeowner, and teen safe driver.
- Progressive policyholders can earn discounts including multi-vehicle, online quote discount, homeowner, good student, and continuous coverage.
- USAA has discounts for family discount, driver training, multi-policy, good student, safe driver, and defensive driver.
The chart below illustrates the comparison of insurance costs with and without discounts applied. The costs are based on a male driver, two accidents and two traffic tickets, South Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with multiple vehicle, passive restraint, paid-in-full, continuous coverage, vehicle safety, and marriage discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for drivers requiring a SR22 is 29% or $1,609.
Price comparison of only insuring for liability
Lowering the price of insurance is the goal of most people, and one common way to find cheap insurance for drivers requiring a SR22 in South Carolina is to only buy liability insurance. The illustration below visualizes the comparison of annual premium costs with full physical damage coverage and with liability coverage only. The costs are based on no claims or driving citations, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
If averaged for all ages, full coverage on your policy costs an extra $1,911 per year over having just liability coverage. Many people question when is it a good idea to stop buying full coverage. There is no clear-cut rule to stop paying for comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
Picking a high-quality auto insurance provider is difficult considering how many different companies there are to choose from in South Carolina. The rank data listed below could help you select which companies you want to consider when comparing rates. The rankings below include companies who write in the majority of U.S. states, so companies that focus mainly on South Carolina business will not be included in the list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How to find the cheapest auto insurance for drivers requiring a SR22 in South Carolina
The list below details some of the recommended thrifty ideas that can help you buy more affordable car insurance.
- Drive safe vehicles
- Do not pay for full coverage if not needed
- Increase the comprehensive and collision deductibles on your policy
- Earn a discount by not filing claims
- Drivers with good credit often pay less
- Insure your home and auto with the same company
- Ensure you have the best deal by shopping around regularly
The last idea is highly critical, as we discussed in the prior information. Rates change frequently, so don't hesitate to buy from a new company if you can find a cheaper rate.
Many consumers stick with the same company and that's fine, but it's not recommended if it's costing you money that could be used for better things. Take a couple minutes and shop around and find cheaper car insurance for drivers requiring a SR22.