One of the many things that are looked at to help calculate the amount you pay each year for auto insurance is your zip code. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas with less congestion have the luxury of cheap car insurance rates.
The table below lists the most expensive cities in South Carolina to purchase car insurance in. Summerville ranks #3 costing $1,252 for coverage, which is about $104 monthly.
|14||Hilton Head Island||$1,127|
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Information shown are comparative as vehicle location can impact insurance rates significantly.
Now that we know where Summerville ranks for car insurance prices, deciphering which companies quote the cheapest auto insurance rates in Summerville may require a little more effort in order to find the best policy. Each insurance company has a different formula for filing rates in each state, so we'll take a look at the most affordable auto insurance companies in Summerville.
Find the Best Cheap Insurance in Summerville
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,248|
|6||Southern Farm Bureau||$1,298|
|7||National Grange Mutual||$1,335|
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The Hartford may have some of the best car insurance rates in Summerville at around $768 each year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also are some of the cheapest Summerville, SC insurance companies.
As illustrated above, if you currently have coverage with Auto-Owners and switched to USAA, you could realize an annual premium reduction of roughly $146. Policyholders with SC Farm Bureau Mutual may save as much as $253 a year, and Southern Farm Bureau customers might realize rate reductions of up to $303 a year.
To find cheaper insurance rates for your vehicle, click here to begin a quote or visit several of the following companies.
These prices are averages across all drivers and vehicles and and are not calculated with an exact vehicle garaging location in Summerville. So the auto insurance company that has the cheapest price for you may not even be in the top 18 companies in the list above. That affirms the importance of why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
Low rates can quickly become overpriced
South Carolina auto insurance rates are calculated based on many things that can increase the cost of a policy. Turning one year older, becoming a homeowner, or getting a few speeding tickets may prompt premium changes resulting in some rates now being much cheaper than others.
In addition, insurance companies change the rates they charge in South Carolina as often as every quarter to reflect underwriting profits or losses. Higher than normal claim frequency or severity may result in rate hikes, while long-term profits can result in more affordable Summerville car insurance rates.
To illustrate this point, the graph below analyzes the cheapest car insurance in Summerville, SC for a 30-year-old male driver with no prior claims, no tickets, and a decent credit rating. If we look at prices based on his current situation, The Hartford might quote the most affordable car insurance rates in Summerville at $892 each year. This is $717 less than the average rate paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and Southern Farm Bureau are also included in the most affordable Summerville, SC auto insurance companies.
In this next rate comparison, we will give the driver from the first set of rates an accident claim, poor credit, and a few blemishes on his driving record. Due to the fact that each insurance company has their own unique process to determine rates, getting updated rate quotes most likely will result in a substantially altered list of affordable Summerville car insurance companies as shown below.
USAA now has the cheapest price in Summerville, SC with National Grange Mutual, State Farm, Travelers, and The Hartford now being in the top five. This illustrates why South Carolina drivers need to shop around with many companies to get the most economical insurance quotes in Summerville. Prices are impacted by many factors and can decrease or increase without notice, so the most affordable company three years ago may now be priced much higher than other options.
The vehicle requiring insurance is one of the biggest factors that determines if you can find low-priced auto insurance in Summerville. Vehicles with higher performance characteristics, poor safety ratings, or a history of substantial liability claims will cost more to insure than more modest models. The list below estimates car insurance prices for some of the most cost-effective automobiles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$1,155|
|Hyundai Elantra SE Touring Station Wagon||$1,227|
|Ford Escape XLS 2WD||$1,239|
|Ford F-150 XLT Regular Cab 2WD||$1,241|
|Chevrolet Equinox LS 2WD||$1,337|
|Toyota RAV4 Limited 4WD||$1,346|
|Chevrolet Impala LT||$1,337|
|Toyota Tacoma Double Cab 4WD||$1,347|
|Ford Explorer Limited AWD||$1,363|
|Dodge Grand Caravan CV||$1,385|
|Jeep Grand Cherokee Limited 4WD||$1,435|
|Ford Focus S 4-Dr Sedan||$1,476|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,502|
|Chevrolet Malibu LS||$1,510|
|Volkswagen Jetta S 4-Dr Sedan||$1,520|
|Toyota Camry Hybrid||$1,534|
|Toyota Camry Hybrid||$1,540|
|Kia Optima SX||$1,534|
|Ford Edge Sport AWD||$1,546|
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Data rating is based on single male driver age 40, 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, homeowner, and multi-policy. Information does not factor in vehicle location which can decrease or increase coverage prices greatly.
By looking at the data, makes and models like the Honda CR-V, Hyundai Elantra, Ford Escape, and Ford F-150 are most likely going to be a few of the most budget-friendly vehicles to insure for drivers in Summerville.
Full coverage or liability only
Lowering the price of insurance is important to most drivers, and one easy way to reduce the cost of insurance in Summerville is to not insure for full coverage. The information below illustrates the comparison of car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in South Carolina. The premiums assume no claims, a clean driving record, $500 deductibles, single marital status, and no additional discounts are factored in.
If averaged out across all ages, physical damage coverage on your policy costs $1,610 per year more than insuring for liability only. That is a big expense that brings up the question if paying for full coverage is a waste of money. There is no clear-cut rule that works best for making the decision to drop physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the vehicle's replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let's assume your vehicle's book value is $12,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $11,000 after you pay the deductible. If it's costing you more than $1,100 annually to have full coverage, then you might want to think about dropping full coverage.
The chart below highlights how deductible selection can influence yearly insurance costs when trying to find cheap insurance in Summerville. The data is based on a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could lower their policy premium by $356 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $536 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old, could possibly save $1,080 or even more by choosing a larger deductible amount.
If you do decide to increase your deductibles, it will be important to have spare funds to enable you to cover the extra out-of-pocket expense, which deters some people from using high deductibles.