If you’re a driver, car insurance is one of those things you just can’t do without. Not only is it legally mandated almost everywhere, but it’s also the only thing standing between you and potential financial ruin if you get in an accident.
It’s natural to want to get the most value for your money when it comes to car insurance, particularly in Charleston, where drivers typically pay more than the average compared to other cities in South Carolina. You may have to do a bit of homework to find the best cheap South Carolina car insurance if you live in Charleston, but it’s far from impossible.
What’s the Average Car Insurance Rate in South Carolina?
Your average driver in South Carolina pays about $1,572 a year for car insurance — more expensive than the national average by a mere $43. Of course, those rates tend to vary by insurance carrier as well as by city.
In particular, Charleston drivers pay quite a bit more for their insurance — an average of $2,140 a year, per numbers from Kristine Lee at The Zebra Also on the high end for South Carolina is North Charleston at $2,923 and Columbia at $2,089.
What carrier you choose to buy from can make a big difference, however — for example, the average yearly premium from The Hartford is $760, where GEICO is $1,063 and USAA only #1,399. It’s just one of the reasons it’s a great idea to shop around for your car insurance (we’ll get to that a bit later on).
What Makes Charleston’s Auto Insurance Premiums So High?
If you’re a driver in Charleston, you no doubt already know that you’re paying more than the average for your car insurance. But why exactly is it so high?
One of the main reasons is the traffic and population density that comes with a larger city. More traffic and a denser population means more opportunities for accidents, and that translates to higher risk for insurers. Naturally, that risk gets passed on to you in the form of higher car insurance premiums.
This is true of nearly every city, not just Charleston. But South Carolina in general has a higher rate of traffic accidents than most of the nation — an average of 20.31 fatal car accidents per 100,000 people. Charleston in particular has a high rate of auto theft and vandalism, which contributes to risk every bit as much as accidents do.
Another major reason for high insurance premiums — uninsured drivers. Motorists driving without insurance drive up premiums for everyone, but in South Carolina, it’s particularly dangerous. Legally, people can drive without insurance in South Carolina as long as they pay a fee, which means the state has a considerably higher rate of uninsured drivers on the road than elsewhere in the United States.
South Carolina also suffers from particularly expensive natural disasters and extreme weather, such as hurricanes, flooding, and severe snow. These all contribute to the risk of vehicle damage or loss.
Other factors that can affect your insurance premiums include age, marital status, credit rating, zip code, mileage, driving history, and history of insurance claims.
How to Save Money on Car Insurance in Charleston
So how can you help make up for the high insurance premiums you’re paying in Charleston? Here are a few strategies to help you bring those costs down.
- Only take out what coverage you need. If you don’t need comprehensive or collision coverage for your vehicle — for example, if it’s an older vehicle and the market value is quite low — and go with minimum coverage (liability only). If your car isn’t worth much to begin with, you’ll probably lose more money on premiums paying for collision and comprehensive than you’ll get back if the car is totaled.
- Shop around and compare insurance policies. As we’ve already seen above, you can find cheap South Carolina car insurance if you do a little comparison shopping. And there’s no need to make a ton of phone calls or even visit every competing insurance carrier’s website — there are free online tools to help you compare insurance rates where you live and find the best deal.
- Increase your deductible. A good strategy if you have some money in the bank and can absorb some of the financial shock of getting in a car accident is to increase your deductible. This will raise the amount of money you’ll pay out of pocket when the car is damaged, but your monthly premiums will be lower. Only you can decide if that’s the best approach, so have a look at your finances first.
- Avoid traffic violations. This might seem obvious, but keeping a clean driving record can earn you lower insurance rates. Conversely, major violations like DUIs can dramatically increase your premiums, to the point where you might have trouble keeping your car insured at all.
