Deciphering which company offers the most affordable car insurance rates for low credit scores in South Carolina calls for a little more work in order to find the best policy. Each insurance company has a unique formula to set their prices, so we need to take a look at the car insurance companies that tend to have lower prices in South Carolina.
Keep in mind that South Carolina car insurance rates are determined by lots of factors that will increase or decrease the cost of coverage. Simply getting older, buying a new vehicle, or getting a speeding ticket can produce rate changes that can cause some rates to be cheaper in comparison to the competition.
Find the Cheapest Car Insurance in South Carolina
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,286|
|6||Southern Farm Bureau||$1,298|
|8||National Grange Mutual||$1,375|
|Find Cheaper Rates Go|
The Hartford generally has some of the most affordable car insurance rates in South Carolina at around $768 each year. This is $841 less than the average price paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also rank well as some of the cheapest South Carolina car insurance companies.
As the example above demonstrates, if you currently buy coverage from SC Farm Bureau Mutual and switched to USAA, you may realize yearly savings of upwards of $301. Drivers with Southern Farm Bureau could save as much as $313 a year, and Travelers insureds might cut rates by $371 a year.
To find cheaper insurance rates for your vehicle, click here to begin a quote or quote rates from the companies below.
Remember that these premium estimates are averaged across all types of drivers and the different vehicles they drive and do not take into consideration a rate decrease for low credit scores. So the company that is most affordable for your situation may not even be in the list above. That's why you need to quote rates from many companies using your own specific driver information and vehicle.
For bad credit, one of the more important components that aid in calculating auto insurance rates is where you call home in South Carolina. Cities with larger populations or higher claim trends like North Charleston, Florence, and Sumter will most likely pay more, whereas areas with less people or fewer weather incidents have the benefit of cheaper car insurance.
The next table lists the most expensive areas in South Carolina for low credit scores to buy auto insurance in.
|13||Hilton Head Island||$1,139|
|Find Cheaper Insurance Go|
Table data uses approximated as specific location information can lower or raise coverage rates noticeably.
The example below demonstrates how deductible levels can increase or decrease insurance premiums when getting quotes for cheap insurance for low credit scores in South Carolina. The information is based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could pocket $378 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $570 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, could potentially save $1,266 every year just by choosing higher deductibles when buying full coverage.
When using a larger deductible, it will be required to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense that comes with higher deductibles.
Best car insurance company in South Carolina
Selecting the best car insurance company can be rather challenging considering how many companies sell coverage in South Carolina. The information below can help you choose which car insurance companies you want to consider when comparing auto insurance rates for low credit scores.
These rankings are for insurance companies that insure vehicles in the majority of U.S. states, so smaller regional companies will not be included in this list. To get rate quotes from these and other companies in South Carolina, click here.
Top 10 Large Car Insurance Companies in South Carolina Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Accidents and violations increase rates
The common sense way to maintain the cheapest car insurance prices in South Carolina for bad credit is to drive carefully and avoid accidents and traffic citations. The information below demonstrates how speeding tickets and at-fault accidents can impact insurance costs for each different age group. The premiums are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.
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 $2,619. Add in two speeding tickets and the average cost increases to $3,480, an increase of $861 each year. Then add one accident along with the two speeding tickets and the 12-month cost of car insurance for low credit scores in South Carolina increases to an average of $4,362. That's an increase of $1,743, or $145 per month, just for not paying attention while driving!
How to find cheaper auto insurance for low credit scores
Lowering your rates is not difficult, and here are some of the better thrifty solutions that can help South Carolina drivers buy more affordable coverage.
- Raise your physical damage coverage deductibles
- Drive a car with a high safety rating
- Accidents can significantly increase rates
- Do not get traffic tickets
- Higher credit scores can equal lower rates
- Look for cheaper rates once a year by shopping around
The last suggestion is especially important, as we emphasized in the article above. Insurance rates adjust often, so drivers shouldn't be reluctant to buy from a different company if a cheaper price is available. Many drivers have brand loyalty and that's fine, but we do not recommend it if it's costing you a lot of money every month. Now is a great time to compare rates to find cheaper insurance for low credit scores.