All drivers in South Carolina need protection for their vehicles, whether they drive daily or only on occasion. But calculating the cost of your South Carolina car insurance premium might seem like a complex process. Fortunately there are some hacks to figuring out how policy costs are determined.

South Carolina independent insurance agents can not only help you find the right car insurance for your needs, but they can also give you all the details about your policy’s cost, and the factors that went into it. But before we get too far ahead of ourselves, here’s a deep dive into car insurance and how premiums are calculated.

Average Cost of Car Insurance in South Carolina

When shopping for car insurance in South Carolina, it can be helpful to have a number in mind first. Knowing the average cost of car insurance in your area will allow you to prepare your budget for the new premium. Check out some figures for the average cost of car insurance in South Carolina vs. the US overall:

Residents in South Carolina are in luck, because the average cost of annual car insurance premiums runs nearly $100 below the national average. Your South Carolina independent insurance agent can help you find more exact figures for your specific city and vehicle.

How to Calculate Car Insurance Costs in South Carolina

There are a number of factors that go into calculating the cost of your car insurance in South Carolina, just like anywhere else. Several characteristics of both the vehicle and the driver are taken into consideration, including:

• How often the vehicle is used: The more time spent on the road, the more risky the vehicle is to insure. Car insurance companies often discount premiums for drivers who maintain less than a specified amount of mileage per year.
• Driving records: Prior traffic violations and accidents can cause your current car insurance premium to go up by quite a bit. The specific amount varies from insurance company to insurance company, however.
• The type of vehicle: The more valuable your vehicle is, the more costly it would be to replace after a disaster. Which means more valuable cars are usually more expensive to insure.

A South Carolina independent insurance agent can help you find quotes and exact costs for car insurance coverage in your area, as well as determine what factors would go into your policy’s premium rate.

How to Calculate Costs of Additional Car Insurance Policies in South Carolina

South Carolina drivers are required by law to meet the state minimums for car insurance. The required coverages are:

• Bodily injury liability: Protects against injuries to a third party and their passengers if the policyholder gets into an accident with another driver.
• Property damage liability: Protects against damage to property such as buildings and signposts if the policyholder damages it with their vehicle.
• Uninsured motorist coverage: Protects the policyholder against getting into an accident with another driver who does not carry any or adequate insurance.

Now, if you want to add more coverage to your basic car insurance policy — and a South Carolina independent insurance agent would likely highly recommend that you do — you’ll of course have to pay more for your premiums. A couple of common coverages many drivers add to their car insurance include:

• Collision coverage: This coverage protects against damage to the driver’s vehicle if they’re involved in a collision. Collision insurance premiums average about $526 annually.
• Comprehensive coverage: This coverage protects against other threats to your vehicle, including theft and flood damage. Comprehensive insurance averages about $192 annually.
• Personal injury protection (PIP) coverage: This coverage reimburses the driver for their own injuries, as well as the injuries of their passengers, after an accident. PIP coverage costs can range from about $50 to $200 annually.

Once you’ve determined which extra coverages you want added onto your car insurance policy, your South Carolina independent insurance agent will be able to determine a more precise cost estimate.

How to Calculate Car Insurance Costs for a New Car in South Carolina

When you insure a newer vehicle in South Carolina, you can expect to pay more for coverage. New cars are more valuable and cost more to both purchase and replace, so insuring them is also more expensive. It’s estimated that car insurance premiums decline about 3.5% each year of a vehicle’s life. So, a vehicle that’s 10 years old will cost about 35% less to insure than one that’s brand new.

Additional Reasons for Higher Car Insurance Costs in South Carolina

Beyond the age of your vehicle, there are still more factors that could cause you to pay more for your car insurance premiums in South Carolina. Just a few common examples include:

• Driver age: Typically the cost of car insurance decreases quite a bit once a driver reaches age 25, since younger drivers are statistically involved in accidents much more frequently.
• Credit score: Insurance companies have discovered trends between poor credit management and poor driving behaviors, as well as the opposite. Drivers with lower credit scores are likely to pay more for their car insurance, since they are deemed to be a higher risk to insure.
• Specific location: For residents in South Carolina, insuring a vehicle that’s driven and stored close to the Atlantic Coast is likely to lead to a higher premium than somewhere further inland. This is due to the increased risk of storm damage, such as flooding. Further, car owners in major cities like Charleston are likely to pay more for car insurance due to the increased risk of crimes like theft.

A South Carolina independent insurance agent is your greatest ally when it comes to determining the cost of your car insurance policy. They can also help you find the best available discounts to help bring down your premiums as much as possible.

Here’s How a South Carolina Independent Insurance Agent Can Help

When it comes to helping South Carolina drivers calculate the cost of their car insurance premiums, no one’s better equipped to help than an independent insurance agent. South Carolina independent insurance agents search through multiple carriers to find providers who specialize in auto insurance, deliver quotes from a number of different sources, and help you walk through them all to find the best blend of coverage and cost.