It's hard to miss the captivating commercials from companies like State Farm, Allstate, and Farmers that make promises of huge savings. So drivers should just pick the company with the catchiest ad, right?
That is not the case, however, as there are a whole bunch of unknown factors like whether you are male or female, if you have a spouse, and the amount of coverage you want, that help determine the price you have to pay. This article should teach you a little about the best ways to find cheap auto insurance and will hopefully give the reader a good start to your coverage search.
Finding dependable, reasonably-priced car insurance is difficult, and figuring out which insurers offer the cheapest auto insurance rates for business use in South Carolina may require even more rate comparisons. Insurance premiums should be somewhat more than the state average, with the extra cost attributed to the posibility of more claims that goes along with selling coverage for using your car for business, but reasonably-priced coverage may be achievable if you are thorough.
Every auto insurer has a unique formula to determine rates, so let's begin by taking a look at the auto insurance companies with the overall best prices in South Carolina.
Find Cheaper Auto Insurance for Business Use
|Rank||Company||Cost Per Year|
|5||Southern Farm Bureau||$1,286|
|6||SC Farm Bureau Mutual||$1,298|
|8||National Grange Mutual||$1,361|
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The Hartford offers some of the lowest car insurance rates in South Carolina at around $752 per year. 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 USAA, you might achieve an annual premium reduction of in the vicinity of $156. Drivers with Southern Farm Bureau may save as much as $301 a year, and SC Farm Bureau Mutual customers might realize rate reductions of up to $313 a year.
These policy prices are averaged across all ages of drivers and types of vehicles and do not take into consideration a rate increase for business use. So the auto insurance company that fits your needs best may not even be in the top 18 companies shown above. That points out the importance of why you need to get quotes using your own driver data and vehicle information.
The car, truck, or SUV that needs insurance is one of the largest factors when comparing quotes for the best cheap auto insurance for business use. Vehicles with high performance, a lack of safety features, or a track record of large liability claims will cost significantly more to insure than safer, lower-performance models. The list below presents car insurance rates for a number of the most affordable automobiles to insure in South Carolina.
|Vehicle||Estimated Cost for Full Coverage|
|Ford F-150 XLT Regular Cab 2WD||$890|
|Honda CR-V LX 4WD||$927|
|Honda Accord LX 4-Dr Sedan||$936|
|Honda Odyssey EX W/Rear Entertainment||$939|
|Volkswagen Jetta S 2.5 Station Wagon||$1,005|
|Ford Fusion Sport 4-Dr Sedan||$1,025|
|Dodge Grand Caravan SE||$1,039|
|Ford Explorer XLT 4WD||$1,048|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,062|
|Ford Escape Limited 4WD||$1,080|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,088|
|Toyota Camry Hybrid||$1,095|
|Chevrolet Silverado LS Crew Cab 2WD||$1,103|
|Toyota Camry LE||$1,097|
|Dodge Ram Crew Cab Sport 2WD||$1,113|
|Chevrolet Malibu LT||$1,117|
|Dodge Ram 2500 Crew Cab SLT 2WD||$1,146|
|Ford Edge SE AWD||$1,152|
|Hyundai Elantra SE 4-Dr Sedan||$1,154|
|Toyota Corolla LE||$1,160|
|Chevrolet Silverado 2500HD LT Extended Cab Diesel 2WD||$1,164|
|Toyota RAV4 2WD||$1,174|
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Prices do not factor in your specific South Carolina location which can revise insurance rates considerably.
Looking at the rates, you can conclude that vehicles like the Ford F-150, Toyota Prius, Honda CR-V, Honda Accord, and Honda Odyssey are most likely to be a few of the cheaper vehicles to insure for using your car for business. The price for car insurance will tend to be more expensive anyway because there is more claim exposure for business use, but generally speaking those particular vehicles will tend to have the lowest insurance rates that you'll find.
For using your car for business, one of the largest things that are looked at to determine insurance cost is your zip code. Areas with high crime rates or more dense population like Florence, Goose Creek, and Sumter tend to have more expensive auto insurance rates, whereas areas that tend to be more rural profit from lower rates.
The table below rates the most expensive areas in South Carolina for business use to purchase a policy in.
|11||Hilton Head Island||$1,173|
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Prices are comparative as the specific South Carolina residence address can raise or lower prices substantially.
Accidents and violations increase rates
The easiest way to earn the most affordable auto insurance premiums in South Carolina for using your car for business is to pay attention while driving and avoid at-fault accidents and violations. The information below shows how speeding tickets and accidents raise insurance prices for each different age category. The rates are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of auto insurance in South Carolina per year with a clean driving record and no accidents is $1,763. Get one speeding ticket and the average cost jumps to $1,984, an increase of $221 each year. Next add two accidents along with the one speeding ticket and the annual cost of auto insurance for business use in South Carolina jumps again to an average of $3,927. That's an increase of $2,164, or $180 per month, just for not driving safely!
Discounts on South Carolina insurance rates
Insurers that provide coverage for business use may also give you policy discounts that could potentially reduce rates by 40% or more if you qualify. Companies and their offered discounts are shown below.
- Progressive has savings for online quote discount, online signing, good student, homeowner, continuous coverage, and multi-vehicle.
- Farmers Insurance may offer discounts for homeowner, electronic funds transfer, multi-car, switch companies, distant student, alternative fuel, and bundle discounts.
- Farm Bureau policyholders can earn discounts including multi-policy, safe driver, renewal discount, driver training, good student, multi-vehicle, and youthful driver.
- State Farm includes discounts for safe vehicle, passive restraint, good driver, driver's education, and multiple policy.
- GEICO offers discounts including air bags, multi-policy, five-year accident-free, military active duty, good student, membership and employees, and emergency military deployment.
- SAFECO discounts include safe driver, multi-car, homeowner, bundle discounts, teen safety rewards, accident prevention training, and anti-lock brakes.
- Liberty Mutual may include discounts for new move discount, newly retired, multi-car, newly married, good student, and exclusive group savings.
The information below visualizes the comparison of yearly insurance costs with and without some available policy discounts. The price estimates are based on a female driver, no claims or violations, South Carolina state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with multiple policy, homeowner, marriage, passive restraint, anti-theft, and multiple vehicle discounts applied. When drivers take advantage of discounts, the average amount saved each year on auto insurance for business use is 28% or $410.
Insuring your vehicle with the best auto insurance company can be challenging considering how many different companies there are to choose from in South Carolina. The company information displayed below could help you decide which auto insurance companies you want to consider shopping your coverage with.
The rankings below only include the largest companies in America, so smaller companies that only insure vehicles in South Carolina are not included in this list. To compare prices and find cheaper insurance for business use, just click here.
|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
The importance of shopping around
South Carolina auto insurance rates are determined by lots of factors that control the price of your policy. Improving your credit score, filing a claim, or getting a speeding ticket can trigger rate changes that can cause some rates to be more affordable than before. And not only may your rating factors change, but auto insurance companies modify pricing as needed in order to maintain liquidity for claims. An unexpected high level of claims may result in increased rates, while long-term profits can cause lower-cost South Carolina car insurance rates.
To illustrate this example, the graph below compares the cheapest car insurance in South Carolina for a 30-year-old female driver with no accidents, a clean driving record, and a good credit rating. If we estimate prices based on her current risk profile, The Hartford may have the most affordable car insurance rates in South Carolina at $745 per year. This is $864 less than the average premium paid by South Carolina drivers of $1,609. USAA, Auto-Owners, State Auto, and SC Farm Bureau Mutual are also on the list of the cheapest South Carolina auto insurance companies.
In the next rate comparison, we'll give the driver from above a couple of claims, a lower credit rating, and a traffic citation. Since each company has a different formula to establish rates, comparing insurance quotes could result in a different set of cheap South Carolina auto insurance companies as shown below.
National Grange Mutual now has the lowest car insurance rate in South Carolina with Travelers, USAA, State Farm, and Auto-Owners now being in the top five. This example demonstrates why it is critical to compare many different companies when trying to find the most budget-friendly car insurance quotes for business use.
Prices are impacted by many factors and change frequently, so the cheapest company the last time you compared rates may now be an over-priced policy.