It’s certainly tempting to do whatever you can to save a few bucks on car insurance. If you’re a cautious driver and haven’t had many accidents, you may be wondering what’s the point of paying for something you rarely use. What’s the benefit versus the risk of selecting the least expensive auto insurance you can find? Is cheap car insurance in SC really worth it?
No matter where you live, you’ll be required to have some kind of minimum car insurance. In South Carolina, minimum liability coverage is:
- $25,000 bodily injury per person, which protects you against the claims from those who are injured in an accident for which you were at fault.
- $50,000 bodily injury per accident.
- $25,000 property damage per accident, which pays for any damage you cause to the property of others.
Auto insurance companies are required to provide this minimum coverage, so if you’re shopping around and find a company that doesn’t offer this, look elsewhere.
Consider the following to determine if cheap car insurance in SC makes sense for you:
How old is your vehicle? If you have an older model car, liability insurance may be sufficient. If your car sustained significant damage, would it even be worth the repairs? If not, then cheaper liability insurance is a good choice.
How much do you use your car? Maybe you have an older pickup truck perfect for weekend projects but it’s not your everyday, drive-to-work vehicle. Full coverage on a vehicle you don’t drive regularly – especially if it’s an older car – is most likely not the best use of your funds.
Who’s doing the driving? If you have a new teen driver in the house who will be driving the vehicle to school, sports practice or a friend’s house, you might want to spring for added coverage. Teen drivers tend to be involved in more accidents and vehicle mishaps so skimping on your insurance coverage could cost you in the long run.
Where are you driving? Small town, country living probably puts you at less risk for an accident than if you’re commuting up and down a busy highway every day. Also, do you live or work in a high-crime neighborhood? Extra coverage may be worth it if you’re at greater risk for theft or vandalism.
Carrying liability coverage – which covers damage to another person’s vehicle if you cause an accident – can be perfectly appropriate in many instances. But consider what might happen if you rear-end a top-of-line vehicle worth hundreds of thousands of dollars and you only have liability insurance. Well, you might have to pay the difference between what the insurance covers and the cost of the repairs – ouch.
Also, if you have a newer vehicle, an expensive model of car or even a vintage car you use for weekend road trips, you could be in a tough spot if you have only liability coverage.
It’s important to do your homework and think through potential scenarios are you’re deciding whether cheap car insurance in SC is a great deal or whether it will cost you in the long run.
Before you make a decision, shop around and get at least three quotes from insurance companies. Also, make sure you’re dealing with a reputable company. What do the online reviews say? Can you reach a live human with your questions or in the event you need to file a claim? A car insurance company that has cheap rates but terrible customer service isn’t a good choice.
And be sure to ask about possible discounts. Most companies have discounts for multi-car households, a safe driving record, having a vehicle with safety features as well as good student discounts for teen and college-age drivers.
Learn more about Manning Insurance Services’ Car Insurance Policies.