Updated: December 24, 2024
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Dec 25, 2024
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Having a ballpark figure for the cost of car insurance can help you save money while shopping for a policy. With MoneyGeek’s car insurance calculator, you can get a quick estimate of costs in South Carolina.
There are several factors affecting the cost of your premiums. MoneyGeek analyzed how car insurance premiums are calculated in South Carolina so you can figure out which factors have the biggest impact on your rates.
You will need to provide personal information to get an accurate car insurance quote in South Carolina. This process usually takes 10 to 15 minutes to accomplish.
Alternatively, you can use MoneyGeek’s South Carolina car insurance calculator to receive a quick estimate of how much you’ll be paying for car insurance per year or month based on your age, driving record, vehicle type and coverage levels.
Our calculator can show you the factors most affecting your rates. In South Carolina, these include your age, credit score and whether you add a teen driver to your policy. The most significant factor for you may differ depending on your combination of characteristics.
The cheapest car insurance company in South Carolina for you may depend on several factors. Our calculator can give you a close estimate. Our default driver pays $492 per year for car insurance from GEICO, the cheapest widely available company in the state.
However, price isn’t everything. You’ll also want to consider a company’s service and offerings.
If you want to get an idea how much your car insurance will cost, use MoneyGeek’s South Carolina car insurance calculator or browse our collection of sample drivers in the cheapest car insurance in South Carolina.
MoneyGeek analyzed the average cost of car insurance in South Carolina to show you the cost of car insurance in the state compared to others.
If you’re not focused only on the price, MoneyGeek ranked the best car insurance companies in South Carolina that balance affordability and service quality.
Car insurance companies use various factors to calculate the cost of insurance premiums. Among these factors are your age, gender, driving record, coverage levels, credit score and car model.
In South Carolina, the most critical factors used in determining car insurance rates are whether you’re adding a teen driver, your age and your credit score.
Adding a teen driver to your policy can multiply your car insurance rates in South Carolina by 3.1 times.
Adding a teen driver to your policy can increase the cost of your car insurance. Teen drivers lack experience and are more likely to get into an accident. Insurers view them as a greater risk and set their premiums accordingly.
In South Carolina, your car insurance rates can increase as much as 3.1x if you add a teen driver to your policy.
Insurers consider your age in calculating the cost of car insurance premiums. They tend to charge more for younger and senior drivers than their middle-aged counterparts.
The cheapest car insurance in South Carolina is for a 40-year-old driver. Meanwhile, the most expensive policy is for a 19- to 20-year-old. Depending on how old you are, your insurance rates can multiply by 2.4x.
The price of your car insurance is based on the coverage levels you choose. Getting more coverage gives you additional protection, but this means you’ll face higher rates.
In South Carolina, the most affordable coverage is state minimum liability-only and the most expensive is full coverage with a $500 deductible and 100/300/100 liability. A full-coverage policy can increase your rates by 2.1x.
Your credit score has a significant impact on the cost of your insurance premiums. Having a good to excellent credit score can usually get you a cheaper car insurance policy.
But if you have a poor credit score, it can multiply your car insurance rates in South Carolina by 2.1x.
The model of your car can influence the price of your car insurance. Luxury car owners tend to pay more for car insurance. This is because these vehicles are more expensive to repair or replace. Additionally, some cars are more prone to damage, which means they need extra protection.
Your car insurance can be 2x as expensive if you drive a luxury car in South Carolina.
Car insurance rates are affected by the amount of insurance you purchase. Calculating how much car insurance you need in South Carolina can help you find the right balance between cost and protection.
South Carolina requires you to purchase bodily injury liability insurance, property damage liability insurance and uninsured/underinsured motorist insurance. Still, you should consider buying additional liability insurance and comprehensive and collision insurance depending on your circumstance.
Reviewing South Carolina’s minimum car insurance requirements can help you decide how much car insurance you need. The state’s law requires coverage levels for $25,000 of bodily injury liability per person and up to a total of $50,000 of bodily injury liability per incident.
South Carolina also doesn’t require you to buy comprehensive or collision insurance, which can protect you against property and vehicle damage caused by a crash.
If you want more protection against the costs of a major accident, you may need liability insurance that’s higher than the South Carolina state minimum. However, this means you’ll have higher insurance costs.
A policy in South Carolina protecting you for $300,000 in bodily injury liability per accident has an average cost of $818 per year, compared to $561 for the state’s minimum liability insurance.
You should decide whether you need a full coverage policy with comprehensive and collision insurance included. While South Carolina doesn’t require it, some lenders may require full coverage if you’re leasing or financing the purchase of your car.
In South Carolina, the cost of adding comprehensive and collision coverage with a $1,000 deductible is $273 per year on average. However, you may drop it if you’re paying hundreds of dollars annually to insure a car that’s only worth a few thousand dollars.
In South Carolina, you’re required to have uninsured/underinsured motorist coverage. This can help protect you against accidents with a driver who has little to no insurance. Around 10.9% of drivers in the state are uninsured.
South Carolina doesn’t require personal injury protection. However, you still have the option to buy medical payments coverage to get protection against the cost of medical expenses in the event of a crash.
To help you understand how car insurance is calculated in South Carolina, MoneyGeek answered the following frequently asked questions.
To get an estimate of your car insurance rates in South Carolina, you need to submit personal information to insurers. An alternative option is using MoneyGeek’s South Carolina car insurance calculator.
The factors with the biggest impact on your car insurance costs in South Carolina are whether you’re adding a teen driver, your age and credit score.
To calculate how much car insurance you need in South Carolina, you need to review the state’s minimum car insurance requirements. Then, you can decide if you need additional coverage, such as comprehensive and collision insurance.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across South Carolina. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
