The words "cheap" and "auto insurance" probably shouldn't be used in the same sentence, specifically when searching for the cheapest auto insurance with multiple speeding tickets. Because it's not cheap, let's lead off by showing you some of the factors that influence car insurance prices, and figure out some ways to take a little off your next policy.
After a few driving violations, one of the largest things that are used to help calculate the price you pay for insurance is where you normally keep your vehicle in South Carolina. Cities with larger populations like North Charleston, Charleston, and Summerville tend to pay slightly more, whereas areas with less crime or weather claims receive better rates.
The illustration below ranks the most expensive cities in South Carolina with multiple speeding tickets in which to buy car insurance.
|12||Hilton Head Island||$1,173|
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Rate quotes are comparative as the specific area where the vehicle is garaged can affect coverage prices greatly.
Finding good, cost effective car insurance is not the easiest thing to do, and finding out which companies quote the cheapest auto insurance rates with multiple speeding tickets in South Carolina will involve even more perseverance. Each company uses a little different formula to set premium rates, so we need to take a look at the auto insurance companies that tend to be cheaper in South Carolina.
Find the Cheapest Auto Insurance with License Points
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,248|
|6||Southern Farm Bureau||$1,260|
|8||National Grange Mutual||$1,361|
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The Hartford may offer some of the cheapest car insurance rates in South Carolina at around $745 per year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual would also make the list of some of the more affordable South Carolina car insurance companies.
In this example, if you are insured with SC Farm Bureau Mutual and switched to USAA, you may see savings of around $233. Customers with Southern Farm Bureau might save as much as $245 a year, and Travelers policyholders might reduce prices by as much as $341 a year.
These policy prices are averages for all ages of drivers and types of vehicles and and are not calculated with a price decrease with multiple speeding tickets. So the company that fits your age and vehicle best may not even be in the top 18 companies shown above. That helps illustrate why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
The illustration below shows how choosing a deductible can influence premium costs when getting quotes for cheap insurance with multiple speeding tickets in South Carolina. The information is based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could reduce rates by $370 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $558 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, can cut $824 every year just by choosing larger deductibles. If you do decide to increase your deductibles, it will be necessary to have spare funds to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Full coverage or liability only
Buying cheaper auto insurance should be important to most drivers, and one great way to reduce the cost of insurance with multiple speeding tickets in South Carolina is to only pay for liability coverage. The information below visualizes the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in South Carolina. Data assumes no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are factored in.
If all age groups are averaged, physical damage insurance costs $2,394 per year over and above liability only. Many of you may wonder if full coverage is worth the money. There is no definitive rule of when to drop physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.
Impact of speeding/accidents on South Carolina auto insurance rates
The ideal way to maintain affordable auto insurance premiums in South Carolina after a few driving violations is to be a cautious driver and not have accidents or get tickets. The example below demonstrates how traffic citations and at-fault fender-benders drive up premium costs for each different age category. The prices are based on a single male driver, full coverage, $500 deductibles, and no discounts are factored in.
In the prior example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,610. Get two speeding tickets and the average cost surges to $2,124, an increase of $515 each year. Next add two accidents along with the two speeding tickets and the yearly cost of auto insurance with multiple speeding tickets in South Carolina goes up to an average of $4,137. That's an increase of $2,528, or $211 per month, just for being a little careless behind the wheel!
Low rates can quickly become overpriced
South Carolina auto insurance rates are calculated based on many things that may substantially change the price you have to pay. Simply getting older, getting divorced, or getting a DUI can cause premium changes that can cause some rates to be more affordable than competitors. Also, companies modify pricing every year to ensure their profitability. Heavy losses can result in high rates, while profitable underwriting may produce cheaper South Carolina car insurance rates.
As an example, the graph below shows which company has the cheapest car insurance in South Carolina for a 45-year-old female driver with no violations or accidents, and a good credit rating. If we look at prices based on her current situation, The Hartford has the cheapest car insurance rates in South Carolina at $745 each year. This is $864 less than the average price paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and Southern Farm Bureau are the remainder of the best South Carolina auto insurance companies.
Now we will give the driver from the first rate comparison a claim surcharge, poor credit, and a traffic citation. Since every insurance provider has their own guidelines for setting prices, comparing insurance quotes will most likely result in a completely different list of cheap South Carolina auto insurance companies as shown below.
National Grange Mutual now has the cheapest car insurance in South Carolina with Travelers, USAA, State Farm, and The Hartford now rounding out the top five. This example proves why it is important to take the time to shop around to find the most budget-friendly auto insurance quotes with multiple speeding tickets. Auto insurance prices can be altered by many risk factors and can decrease or increase without notice, so the most affordable company the last time you shopped around may now be priced much higher than other options.