There is no law that requires all South Carolina residents to purchase auto insurance. However, a law states that anyone who does not have a South Carolina policy for car insurance will be responsible to the state $550 each year. However, anyone who does not have SC auto coverage will be responsible for any injuries they may sustain. Without auto insurance in South Carolina is a risky move.
The automobile insurance market is expanding and many people don’t understand it. Experts predict that prices will continue to fall until 2008’s halfway point. This is due to the increased demand for automobile insurance. The increase in people purchasing cars and the greater number of cars on roads usually leads to prices rising. However, this has not been the case.
Numerous automobile insurance companies are beginning to expand their offerings to include other insurance types. Others are still in the early stages of entering the market and looking for customers. South Carolina is not an exception to this rule. It was once one of the thirteen original colonies of the United States. The colony followed West Indies traditions and is now an important U.S. state. According to the United States Census Bureau, it has approximately 4,321,249 residents.
South Carolina, which is within the reach of the Appalachian Mountains has a variety of environments. There are forests, lakes, large cities, and rural areas. The rates that people in different areas pay for automobile insurance vary. This can be due to the fact the location of your home will affect the rate you receive. Rural residents don’t experience the same traffic jams as urban dwellers and are less likely to be involved in accidents. However, those who live in densely populated areas will hear more about car thefts and other incidents that occur every day. These are just a few of the many reasons why premiums differ.
If a person wishes to be granted a driving license, South Carolina and all other states have a minimum amount for automobile insurance. To be able to drive in this state, residents must have what they call a “15/30/10” coverage. This will allow them to avoid the $550 fee. The minimum coverage required for bodily injuries is $15,000 per person or $30,000 combined. Property damage coverage must be at least $10,000 when there are accidents. South Carolina residents should be aware that the minimum requirements for insurance are the lowest in the country. This is why they don’t have to pay higher premiums.
South Caroline residents paid an annual average premium of $866 in 2003, compared to the national average $914. This means that the state is saving approximately $50 on automobile insurance, and rates are still fine. But it is important that you know that the state’s average insurance premium has risen dramatically in the 4 years before 2003. Here are some tips to help you save money on your automobile insurance.
As I mentioned, South Carolina has one among the lowest minimum requirements across the United States. This can be a benefit to residents, as there are many of them with older cars that can just work with the minimum coverage. They can save substantial money and they will pay less than most people in the state. Unfortunately, this does not apply to those who are still paying their vehicle lease payments. If you do one of these things, you will be required by law to have collision or comprehensive coverage.
However, it is important to note that there are other services that an individual can get rid off in their policies that will allow them to get a better rate. The most popular is the medical coverage. You don’t need to include medical in your health insurance if you already have it. Both cover the same issues, and if you already have independent health insurance for this type of coverage why increase your auto insurance rate?
If you want to save money on South Carolina auto insurance, you can shop around for the best rate. It is best to meet at least three local insurance companies and ask questions about coverage. You are the customer, and they want to get you to choose their products.
You can also shop online using comparison websites. These websites will provide a range of quotes from different insurance companies to the consumer and you only need to enter your information once. You should always read their past and ensure that they are completely independent of any major insurance company.
