Finding reliable, low-priced auto insurance is hard enough, and figuring out which company has the lowest-priced auto insurance rates for uninsured drivers in South Carolina will require even more shopping around. Each auto insurer uses a little different formula to set their prices, so first we will examine the most affordable auto insurance companies in South Carolina.
We do need to point out that South Carolina auto insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Simply turning a year older, buying a newer car, or getting a speeding ticket can trigger price changes that can cause some rates to be cheaper in comparison to the competition.
Cheap Insurance Rates in South Carolina
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,248|
|6||Southern Farm Bureau||$1,286|
|7||National Grange Mutual||$1,335|
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The Hartford quotes some of the most affordable car insurance rates in South Carolina at around $768 annually. 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 qualify as some of the more affordable South Carolina car insurance companies.
In the above rates, if you are a customer of SC Farm Bureau Mutual and switched to USAA, you may realize a yearly price reduction of roughly $263. Policyholders with Southern Farm Bureau might save as much as $301 a year, and National Grange Mutual customers might realize rate reductions of up to $350 a year.
To find the cheapest coverage for you, click here to start your free quote or quote prices from the following companies.
Understand that those policy rates are averaged for all drivers and vehicles and and are not calculated with a price decrease for uninsured drivers. So the auto insurance company that is best suited for you may not even be in the list above. That underscores the importance of why you need to get auto insurance quotes using your own personal information and vehicle type.
The car, truck, or SUV you are buying coverage for is probably the biggest factor when shopping around for the lowest-priced coverage for uninsured drivers. Vehicles with more horsepower, a lack of safety features, or a history of substantial liability claims will cost more to insure than more modest models. The information below shows coverage prices for a selection of the cheaper automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$821|
|Honda Accord LX-P 4-Dr Sedan||$831|
|Hyundai Elantra SE Touring Station Wagon||$892|
|Toyota Tacoma 2WD||$954|
|Chevrolet Impala LT||$972|
|Ford Edge SE 2WD||$984|
|Ford Explorer Eddie Bauer AWD||$990|
|Ford Escape Limited 4WD||$1,003|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,043|
|Ford Focus SE 4-Dr Sedan||$1,049|
|Honda Odyssey Touring||$1,043|
|Ford F-150 XL Crew Cab 2WD||$1,046|
|Toyota RAV4 Limited 4WD||$1,064|
|Jeep Grand Cherokee Laredo 2WD||$1,074|
|Chevrolet Malibu LT||$1,084|
|Dodge Grand Caravan SXT||$1,091|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$1,095|
|Ford Fusion S 4-Dr Sedan||$1,097|
|Chevrolet Equinox LT 2WD||$1,106|
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Price estimates do not factor in specific South Carolina garaging location which can revise prices substantially.
Looking at the data, vehicles like the Honda CR-V, Honda Accord, Hyundai Elantra, Toyota Tacoma, and Chevrolet Impala will be some of the most affordable vehicles to insure for drivers with no prior coverage.
For drivers with no prior coverage, one of the largest components that help determine auto insurance rates is where your residence is in South Carolina. Areas with increased crime or more people like Florence, Summerville, and North Charleston tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The following table sorts the highest-priced areas in South Carolina for uninsured drivers to purchase a policy in.
|Rank||City||Premium Per Year|
|12||Hilton Head Island||$1,139|
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Annual rates are approximated as the specific South Carolina residence address can change coverage prices greatly.
Rate comparison of full coverage and liability-only
Saving on auto insurance is the goal of most people, and one common way to save on the cost of insurance for uninsured drivers in South Carolina is to only buy liability insurance. The diagram below illustrates the difference between insurance costs with and without full coverage. The premiums are based on no accidents or driving violations, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
If averaged out across all ages, physical damage insurance costs an additional $1,435 per year more than buying just liability insurance. That raises the question if you should buy full coverage. There is no set guideline to stop paying for physical damage insurance, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the vehicle's replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let's say your vehicle's replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after the deductible is paid. If you are currently paying more than $700 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some scenarios where dropping full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Drive responsibly or pay higher rates
The easiest way to receive the most affordable auto insurance premiums for drivers with no prior coverage is to pay attention while driving and not receive tickets or have accidents. The chart below demonstrates how traffic citations and at-fault accidents can affect insurance costs for each age group. The premiums are based on a single male driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
In the example above, the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,553. Receive one speeding ticket and the average cost surges to $1,750, an increase of $197 each year. Then add in one accident along with the one speeding ticket and the 12-month cost of auto insurance for uninsured drivers in South Carolina increases to an average of $2,301. That's an increase of $748, or $62 per month, just for not being attentive to the road!
How to find the cheapest insurance for uninsured drivers
It's not impossible to find cheaper rates, and here are many penny-pinching solutions that can help you locate lower-cost coverage.
- Try to not file small claims
- Increase your deductibles
- Avoid getting tickets or violations
- Save money by bundling your home and auto policies
- Pay cheaper rates with good credit scores
- Accident-free drivers may qualify for discounts
- Ensure you have the best deal by shopping around regularly
The last tip is extremely necessary, as was noted in this piece. Insurance prices fluctuate constantly, so drivers shouldn't hesitate to change insurance companies if a better deal can be had. Many consumers stick with the same company and that's fine, but it's not a great idea if that dedication is costing a wad of cash every year. If you have a few minutes, compare rates and find cheaper insurance for uninsured drivers.