Cheapest car insurance in South Carolina in 2023

The cheapest car insurance companies in South Carolina

The average cost of car insurance in South Carolina is $482 less than the national average, and if you pick a cheap car insurance company, you may be able to save even more. To help you find the cheapest car insurance for your needs in South Carolina, Bankrate reviewed quoted annual premiums from Quadrant Information Services and analyzed third-party financial strength and customer satisfaction rankings from AM Best, J.D. Power and the National Association of Insurance Commissioners (NAIC).

Cheapest company for minimum coverage

Cheapest company for full coverage

Cheapest company for adding a teen driver

Cheapest company for getting a speeding ticket

Cheapest company for being in an at-fault accident

Cheapest company after a high-risk incident

The cheapest car insurance companies in South Carolina by coverage level

Typically, drivers covered under a minimum liability-only policy will enjoy the cheapest rates. However, choosing just the minimum to cut insurance costs can be a risky maneuver. For instance, if you’re the driver in an at-fault accident and cause injuries exceeding your minimum bodily injury coverage limit, you could be on the hook for thousands of dollars (or more) in out-of-pocket expenses.

Minimum liability aside, you may also need to consider carrying full coverage. Comprehensive and collision can provide critical financial protection for the damage your vehicle sustains in an at-fault accident or due to a comprehensive claim (theft or vandalism, for instance). Additionally, you’ll likely be required to carry full coverage insurance as a stipulation of your financing or leasing agreement if you don’t own your vehicle outright.

With these thoughts in mind, you’ll find some of the companies we found to offer cheap auto insurance in South Carolina for both minimum and full coverage policies.

Cheapest cities in South Carolina for car insurance

Your location is one of the most impactful factors when it comes to the cost of your car insurance. Some cities in South Carolina have much cheaper rates than other areas. For example, drivers in big cities may see higher premiums due to congested roadways which lead to an increased instance of accidents. If you move to a new city, it can be an effective strategy to shop around for insurance to see if you can qualify for a lower rate in a specific ZIP code.

In the table below, you can compare average annual rates from some of the cheapest cities in South Carolina for minimum and full coverage insurance. It’s interesting to note that our data shows that across all of these cities, American National offers some of the lowest premiums.

Factors that impact cheap rates in South Carolina

Most drivers will find that their car insurance rates fluctuate as life circumstances change. Certain events can cause your rate to increase temporarily, but time or precautionary measures may help you obtain lower rates. Here are some situations that can lead to a more expensive car insurance premium:

Insuring a teen driver

Getting a speeding ticket

Getting into an at-fault accident

Being deemed a high-risk driver

Minimum coverage requirements for South Carolina drivers

Driving without insurance in South Carolina is illegal. Before purchasing car insurance, you may want to brush up on South Carolina’s car insurance laws. Failure to carry insurance that meets minimum requirements can lead to steep fines or penalties. South Carolina’s minimum auto insurance requirements include:

• $25,000 bodily injury liability per person
• $50,000 bodily injury liability per accident
• $25,000 property damage liability per accident
• $25,000 uninsured motorist bodily injury per person
• $50,000 uninsured motorist bodily injury per accident
• $25,000 uninsured motorist property damage per accident

Underinsured motorist coverage must be offered but can be declined in writing. The cheapest auto insurance in South Carolina is associated with a minimum coverage policy. However, most drivers are encouraged to purchase full coverage insurance because it provides a greater degree of financial protection from a costly loss. Robust policies include financial protection for your vehicle, such as collision and comprehensive, as well as medical payments coverage. If you lease or finance your vehicle, most lenders require a full coverage policy.

How to get the cheapest car insurance in South Carolina

Finding cheap car insurance in South Carolina is most effective when you do your research and compare quotes from multiple insurers, ideally at least three. However, maintaining a low rate is just as important for those with budgetary concerns. Here are several tips for getting and keeping an affordable annual premium in South Carolina:

Consider your needs

Determining how much coverage you need is an integral step to ensure that you aren’t overpaying for car insurance (or, just as importantly, leaving yourself underinsured). You don’t want to purchase coverage that you may not need, but you also don’t want to leave yourself financially vulnerable if you’re involved in an accident. Insurance is a highly-personalized product, and your insurance needs will likely evolve over time. That said, it can be a good idea to touch base with a licensed agent periodically to review your policy details and make adjustments when necessary. 

Shop around

Car insurance companies use your personal characteristics to determine insurance rates. These companies use different underwriting systems to determine your premium, which means one carrier may weigh your vehicle make and model more heavily, and another might put more emphasis on your driving record. For that reason, you may want to get quotes from multiple companies so that you can see which carrier offers you the lowest rate. When shopping, it might also be a good idea to request the same or similar coverage levels across all companies to ensure that you’re comparing companies apples to apples.

Car insurance discounts in South Carolina

Knowing what discounts could be available to you is essential when learning how to save on car insurance in South Carolina. Although car insurance companies dictate their own array of discounts, you might find some savings opportunities across a few different carriers, including: 

• Young driver discounts: Because young drivers pay some of the highest premiums, car insurance companies usually offer teen driver discounts to help make their policies more affordable. One such discount is the good student, which could help full-time students with a 3.0 GPA or higher save on their premiums. Some companies also provide a driver’s training discount for young drivers who complete a driver’s training course. 
• Safe driver discounts: Auto insurers generally award safe drivers with a lower base rate because those who practice safe driving habits are at a lower risk of being involved in an accident. In addition to more favorable underwriting, drivers with a clean record may also earn a safe driving discount which can provide some pretty hefty South Carolina car insurance savings. 
• Pay-in-full discount: If you can afford it, you may want to consider paying your policy premium in a lump sum rather than in installments. Some companies will give you a discount for doing so, and you might avoid installment charges, too. 
• Bundling discount: Bundling multiple types of insurance with one company may be one of the easiest ways to save on car insurance in South Carolina. The most common bundle includes your home and auto, but some carriers will give you this discount for multiple combinations of products, such as carrying your auto and renters, auto and cycle or auto and life insurance. 

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

Bankrate Scores

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.