South Carolina Insurance Requirements

South Carolina Insurance Requirements

In the state of South Carolina, each and every driver with a vehicle registered in the state is required to carry a minimum amount of liability insurance to satisfy state mandated financial responsibility laws.  Drivers who do not comply with financial responsibility laws may be subject to a variety of different punishments for driving without insurance when they are pulled over by an office or the Department of Motor Vehicles is notified of policy cancellation.  The consequences for driving without insurance may include:  citations, fines, vehicle impound, suspension of registration, and imprisonment.


The Minimum Insurance Requirements in South Carolina

South Carolina Insurance RequirementsIn the state of South Carolina, liability insurance is required.  Liability insurance will pay for property damages or injuries that the driver causes to third-party drivers in the event of an at-fault accident.  These insurance requirements are designed to ensure that individuals are safe on the road and all drivers are financially responsible.  All drivers must carry:

*  A minimum of $25,000 per person, $50,000 per accident in Bodily Injury cover.

*  A minimum of $25,000 per accident in Property Damage cover.

While these are the minimum requirements, drivers should carry higher limits and optional coverage options if they can afford to do so.  Higher limits and supplemental coverage options will keep your assets safe and will not put the entire burden of repairing your vehicle on you.


How Are Rates Determined in South Carolina?

Insurance companies use a variety of different factors and past statistics to calculate personalized insurance rates for each and every applicant.  Some of the factors used can change over time and others, like gender, will stay constant for the driver’s entire lifetime.  Here are some of the dozens of rating factors that will be used to calculate insurance premiums each term:

*  Driving record

*  Driving experience

*  Vehicle year, make, and model

*  Age

*  Occupation, vehicle usage

*  Annual mileage

*  Accident history

*  Garaging location

*  Gender

*  Marital status

*  Credit score

When applying for auto insurance in South Carolina, it is important to take advantage of all of the discounts that are available.  Applicants should speak directly with an agent, discount all of the discounts available through the company, and provide detailed and accurate information.  It is also recommended for applicants to provide a Letter of Experience from their prior insurer to qualify for prior insurance discounts.  By doing this, you can save money each month and comply with strict financial responsibility laws..