Buying affordable car insurance for a Toyota Corolla is dependent upon a lot of rating factors such as how far you drive to work, your credit rating, and driving citations. South Carolina drivers will pay around $1,034 per year to insure their Corolla, but that price is a valuation calculated using a 40-year-old single female driver with full comprehensive and collision coverage and $500 deductibles.
If we were betting, you are not 40 years old and maybe not even female, possibly married instead of single, or maybe you just want liability only instead of full coverage. There is no perfect policy for every driver, so the only real way to find cheap insurance rates for your Toyota is to compare rates from as many companies as possible.
The specific model of Corolla impacts the yearly cost, so the price you pay to insure a Corolla LE trim level will be $26 cheaper than the cost to insure the fancier Corolla XRS model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in garaging location in South Carolina which can raise or lower coverage rates considerably.
How to find a good South Carolina auto insurance company
Choosing the best car insurance provider is hard considering how many companies sell coverage in South Carolina. The ranking data displayed below can help you decide which auto insurers to look at purchasing from.
The rankings below are only made up of companies with a nationwide focus, so companies that only write business in South Carolina or surrounding areas will not be included in these rankings. To compare rates from these and other competitive companies, click this link.
Top 10 Major Auto Insurers in South Carolina Ranked by Customer Satisfaction
- USAA - 91%
- AAA Insurance - 90%
- Esurance - 90%
- Nationwide - 89%
- Travelers - 88%
- Progressive - 88%
- Safeco Insurance - 88%
- State Farm - 88%
- Allstate - 88%
- The Hartford - 87%
Top Companies for Toyota Corolla Insurance in South Carolina
Comparison of full coverage and liability-only policies
Saving money when shopping for auto insurance is probably important to the majority of people, and one common way to save on the cost of insurance for a Toyota Corolla in South Carolina is to only pay for liability coverage. The example below visualizes the comparison of annual premium costs with full coverage and liability only. The data is based on no accidents, no driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $2,543 per year over and above liability only. That brings up the question if buying full coverage is worth the money. There is no written rule to delete full coverage, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let's assume your vehicle's settlement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $10,500 after the policy deductible has been paid. If you are currently paying more than $1,050 a year to have full coverage, then you may need to consider dropping full coverage.
There are a few cases where buying only liability insurance is not advised. If you still owe money on your vehicle, you have to carry full coverage to protect the lienholder's interest. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
The chart below illustrates how choosing a deductible can raise or lower premium costs when trying to find cheap insurance for a Toyota Corolla in South Carolina. The premiums are based on a single female driver, full physical damage coverage, and no discounts are applied.
In the chart above, a 40-year-old driver could cut expenses by $364 a year by increasing from a $100 deductible up to a $500 deductible, or save $550 by changing to a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, have the ability to save up to $940 every year by choosing larger deductibles on their policy. If you do decide to increase your deductibles, it will be necessary to have plenty of money set aside to allow you to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Drive responsibly or pay higher rates
The easiest way to enjoy the most affordable auto insurance rates in South Carolina for a Corolla is to be a safe driver and not receive tickets or have accidents. The chart below demonstrates how speeding tickets and at-fault accidents impact insurance rates for different ages of insureds. The price estimates are based on a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of auto insurance per year with a clean driving record and no accidents is $1,747. Factor in two speeding tickets and the average cost rises to $2,489, an increase of $742 each year. Now get two accidents along with the two speeding tickets and the yearly cost of auto insurance for a Toyota Corolla in South Carolina jumps again to an average of $5,165. That's an increase of $3,419, or $285 per month, just for not being more responsible behind the wheel!