Why South Carolina Insurance is Expensive
Have you recently moved to South Carolina from another state or country and tried to find car insurance that wasn’t super expensive? When my family and I set foot back in the good ‘ol US of A about 2.5 years ago, I didn’t realize how drastically things had changed like grocery shopping, home buying, jobs—much less the cost of car insurance.
To confuse things even more, I couldn’t understand why my car insurance premium was different from state to state? Shouldn’t the rates be comparable? When I lived in other states before moving back to the USA, their rates were lower than South Carolina.
Since taking this job at Livingston Insurance Agency it is quite apparent that I am not the only one who has been asking this exact question. So, I took on the challenge to see if I could figure out why there were such ghastly differences from state to state in regards to personal auto insurance prices.
After some digging it appears there are a couple of reasons South Carolina is higher. One reason insurance is more expensive is that South Carolina requirements are pretty strict with regards to what minimum liability coverage you have to carry.
The current state requirements are as follows:
- Bodily injury liability coverage per person: $25,000
- Bodily injury liability coverage per accident: $50,000
- Property damage liability coverage: $25,000
- Personal injury protection: Optional
- Uninsured/underinsured motorist coverage: Coverage must equal liability limits ($25,000 per person and $50,000 per accident)
Not only do these requirements drive up insurance prices but also these: uninsured drivers, higher than average crash/claim/crime rates in South Carolina, and severe weather all factor in as well.
Additionally, countrywide there is an increase in the cost of fixing newer automobiles since those cars have more electronics, cameras, and sensors.
If you’d like to read more details from the information sources, feel free to check out these websites:
So, while South Carolina is great for many things, personal auto insurance pricing may not top the list. The best thing you can do while looking for auto insurance in South Carolina is to find an independent agent like Livingston Insurance Agency. Why, you may ask?
Well, we represent multiple carriers and shop the insurance for you, our customer, so you don’t have to take up your time doing it. We offer advice on coverages and pricing. We build strong relationships and trust with you, our customer, as we want to find the best policy for what your needs are.
We’re pretty great. 😊
-deonna (the new girl)