South Carolina is the top vacation destination in the world. With so much to do within driving distance, from beaches to world renowned golf to beautiful architecture, South Carolina residents do a lot of driving.
With that in mind, it's a good idea to know the ins and outs of South Carolina insurance so you can save the most money possible. South Carolina is unique in that it doesn't actually require auto insurance; drivers can pay $550 in an annual fee and still drive legally. The down side of this is that if you cause an accident, you are financially liable for all expenses. And since South Carolina insurance rates for basic liability coverage average less than the $550 fee, purchasing auto insurance is the best bet.
South Carolina Insurance Requirements
As a tort state, residents of South Carolina who get insurance must have the following:
- Bodily Injury Liability: $25,000/$50,000. This covers medical expenses up to $25,000 for one person and $50,000 for the whole car.
- Property Liability: $25,000. This covers property damage, including other cars.
South Carolina residents should also include uninsured/underinsured motorist (UIM) coverage. This protects drivers from having to foot the bill if they are hit by a driver with no insurance or low limits. UIM coverage is very affordable, with averages of $25 for a 6 month policy for limits of $50,000/100,000.
Of course, insurance rates go up if you opt for coverage for your own vehicle. This includes collision coverage for repair costs if you are in a car accident. Comprehensive coverage will cover things like hail damage, theft, and windshield replacement.
Saving on South Carolina Insurance Rates
Whether you opt for minimum liability coverage or liability as well as coverage for your own car, there are plenty of ways you can save:
- Look for discounts. With so many discounts for auto insurance, it's worth looking to find out which ones you qualify for. These can include good driver, anti-theft device, military, and good student discounts.
- Raise your deductible. You can save money by raising your deductible, but be sure it's not more than you can actually afford if you get into an accident and need to file a claim.
- Take advantage of multiple policy offers. Most companies will discount your rates if you purchase multiple policies from the same company. If you need homeowners, renters, or life insurance, you could end up saving on all of them.
Shopping Around for Lower South Carolina Insurance Rates
The best way to save on your South Carolina insurance rates is to shop around for multiple quotes and compare them. Each insurance company has different rates, so you can actually save hundreds of dollars just by comparing your quotes. The best way to do this is through a site like localinsurance.com, where you can research different types of insurance by state, and then compare different rates from a number of providers.
