When faced with the decision of buying auto insurance, which is legally required of all drivers in South Carolina, many factors must be taken into consideration. Some consumers base their decision on price, others may be more concerned with the insurance company’s level of customer service, or ease in which claims can be made. In addition to those factors, another common reason consumers find themselves in the market for auto insurance is their interest in finding the best deal possible. In other words, consumers want the best coverage for the least amount of money. These factors have an extremely significant influence on the purchasing behaviors of consumers when buying car insurance in South Carolina.
A study recently posted online explored the link between the car insurance quote you receive and where you reside. One interesting statistic from the study reveals that, in the most expensive territory in South Carolina, a car insurance policy can cost up to 91% more than the same policy in the cheapest territory. However, some insurance companies give quotes that depend less on your location. For instance, one insurance company has a difference of only $87 between the cheapest and most expensive territory. Put simply, some car insurance companies rely more heavily on where you live and others don’t. The only way for the consumer to find out is by asking the insurance company directly.
The study also found some serious differences in the general price of insurance across all the territories in South Carolina. The study collected 920 car insurance quotes, using the same personal information for each quote. The smallest quote they received was $414, and the largest was $1,528. That is a difference, or savings, of $1,114.
Speaking of savings, there are a few ways consumers who are planning to buy car insurance in South Carolina can keep their premiums on the low end. One way to find the cheapest rate is to make phone calls to all your local and/or national insurance agencies. Even if one agency quotes you a rate and tell you its the best deal around, keep searching. Another way to save on auto insurance is to do something called bundling. When the insurance customer combines all their insurable things and pays one premium for everything, they are bundling. For example, a married consumer is shopping for insurance. The consumer and their spouse have a total of two vehicles, one small boat, and they own a home. The consumer may find that, if they insure all those things at one insurance company, they will save an amount they wouldn’t normally save if they have separate policies for each item.
It is likely that many consumers are paying too much for their insurance policy right now. Unfortunately, even with the wide-spread capabilities of the Internet, the only way to obtain accurate quotes for auto insurance is by placing a call to an agent who can verify the information you provide. Quotes can be obtained on the Internet, however, if the consumer is shopping-around, multiple quotes can be obtained quicker by picking up the phone.
When purchasing auto insurance, consumers must also be mindful of the type of coverage they need. The type of coverage selected will alter the price of the policy. Typically, the types of coverage available include liability coverage, collision coverage, comprehensive coverage, personal injury protection and uninsured/under-insured motorist protection. Not all types of coverage are required, and not all types of coverage are available everywhere. The best way to find out what types of coverage you are required to have and which types you can add onto your policy or leave off, is to call or email a local auto insurance agent. Always remember to give each agent you speak to the same information so that your car insurance quotes will be accurate.
Liability insurance covers you if it is determined that the accident was your fault. It is wise to have more liability coverage than your state minimum requires to provide extra protection in case your policy limits are exceeded by the costs of the accident. Liability coverage will keep you from paying large sums of money out-of-pocket to cover claims. Collision coverage is used for the cost to repair damages to your vehicle after an accident. This type of coverage is good for those who have expensive vehicles, and the vehicles with lien-holders. The value of your vehicle will determine if you should have collision coverage in your policy. Comprehensive coverage covers things like weather damage or stolen vehicles. This type of coverage is for damages unrelated to an accident. Comprehensive coverage is great if you can afford it, and it is required if the vehicle has a lien-holder. Personal injury protection, or PIP, will help to cover medical bills no matter who caused the accident. This type of coverage will cover the medical bills of the passenger as well, but it is not available in all states. Uninsured/under-insured motorist coverage offers protection against drivers who do not carry insurance, or drivers who only have liability coverage. Un/under-insured protection is worth the added cost (usually pretty cheap) to the policy premium because some states have a really low requirement for minimum insurance coverage, increasing your chances of needing this coverage.
Choosing an auto insurance policy can be confusing. It is very disheartening to get into an accident, only to eventually learn that you or the other driver do not have enough insurance to cover all your medical bills and to repair or replace your car. After an accident, it is a wise decision to speak with an experienced South Carolina injury lawyer for an evaluation of your accident. Following your free consultation, should the injury attorney find that your case has merit, work will begin immediately on your case so that you may receive the compensation and justice that is deserved for your injury or loss. The accident lawyers will also fully investigate the incident, visit the scene of the incident and interview witnesses for your case.