Myrtle Beach, auto insurance prices are heavily influenced by the driving environment in the area. You should take this into consideration while searching for the cheap car insurance Myrtle Beach SC has to offer. Note that your driving environment encompasses where you park your car and your frequent driving routes. Cars parked in garages or generally safe neighborhoods are often awarded cheap Myrtle Beach car insurance. If you live in an unsafe area, there are some ways to get cheap auto insurance in Myrtle Beach, SC. You can install anti-theft devices like car alarms in your car. Insurance providers are often eager to offer the more affordable car insurance quotes Myrtle Beach SC has to such drivers.
Budgeting is important while shopping for auto insurance. A budget will inform your choices while selecting which coverage options you want on your policy. While some insurance companies focus on the required liability insurance, others offer more diverse coverage options. Budgeting will allow you to easily identify what you can afford and what you cannot. So make sure to prepare one before you start your search for cheap auto insurance in Myrtle Beach, SC.
The Best Cheapest Myrtle Beach SC Car Insurance Companies
All industries have certain methods for defining the best rates or the cheapest rates are. The insurance industry is not exempt from this phenomenon. Drivers looking for the best or cheapest Myrtle Beach car insurance rates will have to consider several things. Among these things, the quality, reliability, and health of the selected insurance provider are the most important. These factors are what determine the insurers’ ability to offer coverage.
Myrtle Beach insurance companies take several factors into consideration while setting customer rates. These factors include the driver’s age, driving record, credit history, and amount of coverage needed. Simply by comparing auto insurance rates from the top insurance companies in the area, drivers can save over $500 in insurance rates.
Here are the best auto insurance companies Myrtle Beach SC has to offer.
Drivers looking for coverage for both on-road and off-road driving should opt for full coverage policies. These policies have significantly higher limits on the driver’s liability coverage and offer both collision and comprehensive coverage too. Without a doubt, these policies cost more than the state-required minimum insurance, but they also offer coverage for your car or any injury you may sustain while in an accident. Shop around and compare as many insurance quotes to find the best car insurance companies Myrtle Beach SC has for you.
Average Cost Of Car Insurance In Myrtle Beach SC
On average, car insurance in Myrtle Beach costs about $1,372. However, your actual rates may differ from the state average based on your unique requirements and circumstances. Your personalized rates may end up lower or higher than the average rates. Factors that contribute to this difference include your driving record, the make and model of your vehicle, and the amount of coverage you want to purchase. If these factors are all in optimal conditions, you may end up with the cheap auto insurance Myrtle Beach SC offers its drivers.
Myrtle Beach Auto Insurance Requirements
Drivers applying or renewing their license in Myrtle Beach must certify that they hold at least liability insurance already or that they do not currently own a car.
All car owners in Myrtle Beach must have liability car insurance that meets the state-required minimum. This liability insurance must meet the following conditions:
- $25,000 for any bodily injury, harm, or death of any person in an auto accident caused by the driver or car owner.
- $50,000 for all bodily injury, harm, or death resulting from an accident caused by the owner of the insured car.
- $25,000 for all property damage caused in an accident in which the car owner is at fault.
However, this state required minimum car insurance mandates that liability insurance be explained. Liability insurance is what covers the bills, medical fees, and any other bills resulting from an accident that you are responsible for. However, the coverage only covers for harm or damage is done to others and their property rather than yours, and it will only cover you up to the limits on your policy. There are some drivers who opt for more coverage to prepare for more severe auto crashes. You should also note that once the limits on your policy have been exceeded, you will be responsible for any additional costs. You should consider buying insurance with considerably higher limits if you can afford it.
Liability insurance also kicks in if you permitted the driver behind the wheel to use your car. As such, it covers your family and friends who may have cause to use your car at one point or the other. Your liability insurance also covers you while you are using a rental car.
While liability insurance is the state-required minimum, it’s not the best kind of coverage. It does not cover your losses or injuries resulting from a car accident. You will need to purchase additional auto insurance for this purpose. Keep in mind that, as long as you are responsible for the accident, the other driver’s liability insurance does not cover you.
Collision insurance is an excellent example of additional coverage that you can add to your policy. It offers you coverage for any damage or injury that you suffer while in an accident with another car, up to the limits of your insurance policy.
How To Get Cheapest Car Insurance Quotes In Myrtle Beach SC?
The most effective way to get cheap car insurance in Myrtle Beach, SC, is to keep your driving record clean. Myrtle Beach insurance companies reward low-risk drivers with cheap insurance rates. You can save quite a bit of money simply by avoiding tickets, car crashes, and other traffic law violations. While the savings might not be apparent initially, the little savings end up piling up to a considerable sum.
Here are some other ways you can get cheap car insurance:
Opt For Less Car Insurance Coverage
Less insurance coverage on your policy will certainly earn your lower rates. However, you want to lower your coverage with care. A single at-fault accident can leave you swimming in debt if your insurance coverage is grossly inadequate. So make sure to take utmost care while lowering your coverage. A sound strategy would be to purchase liability insurance that exceeds the state-required minimum limits as well as adding on uninsured motorist insurance.
Maintaining a Clean Driving Record For Several Consecutive Years
As earlier mentioned, this is perhaps the most effective way to get a reduction in your monthly insurance rates. A DUI citation, a citation for any other traffic law violation, or a car crash can change the way insurance companies see you. Even the best auto insurance companies Myrtle Beach SC has to offer don’t take kindly high-risk drivers. You will likely see a significant increase in your auto insurance if you are guilty of any of these. Here are some things you can do to keep your driving record clean
- Never drive under the influence of alcohol or drugs.
- Obey all traffic regulations.
- Reduce the time you spend driving. Less time behind the wheels equals lower chances of getting into a car crash or being cited for a traffic infraction.
- Keep your car in good and sound condition to reduce the risk of crashes resulting from faults.
Increase Your Deductibles
Deductibles refer to the number of money you pay out of your pocket to pay for damages of medical bills before your insurance provider has to step in after an accident. Usually, you decide this while purchasing your car insurance. Deductibles usually range from $250 to $1000; it all depends on the terms of your policy. The rule of deductibles is the lower the deductible, the higher your insurance rate will be. Higher deductibles can earn you more affordable insurance quotes in Myrtle Beach, SC. Just by raising the deductible on your policy, you can save some of your money. Raising your deductible is a good idea if you are not planning on filing smaller claims with your car insurance provider. Take care while raising your deductibles, though; you should only raise it to an amount that you can comfortably afford to pay.
Consider Switching Auto Insurance Providers
The best auto insurance companies Myrtle Beach SC offers all have different operation methods. They have different ways of calculating your car insurance rates and differing penalties for certain situations. As such, the insurance quotes you get from one insurer might not be the same as the ones you get from another. Basically, the insurer that provides you with cheap car insurance in Myrtle Beach, SC, in one year may not be the best for you in subsequent years. So, don’t get tempted to stick permanently to one insurer; instead, compare rates over the years to find the cheapest auto insurance for you. Drivers with one infraction or the other on their record should take particular note of this.
Ask about discounts
The best car insurance companies in Myrtle Beach, SC, all offer discounts to their clients. Discounts are one of the best ways to lower your car insurance rates.
Insurers generally offer discounts to drivers who
- Purchase and bundle their auto insurance with another insurance policy.
- Insure more than one car with them
- Keep clean driving records
- Pay their annual car insurance in one or two payments.
- Receive their insurance documents online
- Install security and safety devices in their vehicles
- Belong to certain professional bodies or affiliated groups
There are several other ways to earn discounts on your insurance premiums. You should discuss discounts extensively with your agent while purchasing a policy.
Purchase A Vehicle That Is Cheap To Insure
Your insurance rates are heavily influenced by the model of your car and the year of its production. Cars have different rates of theft and accidents, and insurers pay careful attention to these rates. If your car is a high-risk model, then you are likely going to receive less affordable insurance quotes from Myrtle Beach, SC.
Try to buy a car that’s doesn’t have a high rate of car crashes or thefts. This kind of car will prompt insurance providers to offer your more affordable auto insurance quotes. Typically, cars with lower horsepower fit this bill since they are less likely to get into auto crashes.
Myrtle Beach SC Car Insurance For Drivers With A Good Record
Good drivers typically receive more affordable car insurance quotes in Myrtle Beach, SC. Insurance providers consider drivers with clean records to be good drivers. Such drivers don’t get into at-fault crashes and don’t have DUIs and other traffic infractions on their records. With the addition of discounts, such drivers can easily afford auto insurance.
Here are some of the best auto insurance companies Myrtle Beach SC hosts for such drivers.
|Insurance Company||Full Coverage|
Good drivers enjoy relatively affordable car insurance quotes in Myrtle Beach, SC. Insurers consider them to be low-risk since they are less likely to get into auto crashes or break traffic laws.
If you are a good driver, you are likely going to be rewarded with appropriate discounts, among other things. The longer you maintain a clean record, the more attractive you are to insurance companies. While long years of clean driving don’t automatically qualify you for lower rates in all situations, it’s a good place to start.
There are three choices available to drivers with clean records who want to purchase Myrtle Beach car insurance.
- The State Required Minimum Insurance: This is the minimum coverage that you are required to purchase before you can drive in South Carolina
- The Standard Insurance Coverage: This coverage policy usually has the minimum liability insurance required by the state and the uninsured motorist and collision coverage insurance on it.
- Full Coverage: This policy typically has liability insurance, uninsured motorist insurance, collision insurance, and comprehensive insurance coverage.
Myrtle Beach SC Cheap Car Insurance Quotes For Young Drivers
Young drivers looking for Myrtle Beach auto insurance can find the cheapest rates at SC Farm Bureau and Geico.
Drivers in their 20s or in their teens are considered young drivers. They typically often pay more for insurance than their older counterparts. Statistics reveal that younger drivers have a higher chance of getting into an accident. As such, the best car insurance companies Myrtle Beach SC has to offer to consider them to be high-risk drivers.
|SC Farm Bureau||$2,265|
Myrtle Beach insurance companies consider drivers younger than 40 to be young drivers. They are considered as higher risk drivers with lower driving experience and thus, are offered less affordable car insurance quotes in Myrtle Beach, SC. However, the state of South Carolina has banned the use of level of education and gender as factors for determining insurance rates. This ban helps younger drivers save some money on their insurance.
Cheapest Minimum Coverage For Young Good Drivers In Myrtle Beach SC
Young drivers with clean driving records looking for cheap Myrtle Beach auto insurance can check out these Myrtle Beach insurance companies. These insurance agencies offer the lowest rates on average
Cheap Car Insurance In Myrtle Beach SC After A Speeding Ticket
Driving at high speeds will most likely earn you a speeding ticket. This can severely affect your car insurance budget. Speeding tickets will cause your insurance rates to go up significantly, and you will end up having some points added to your driving licenses. The value of the points will be determined by how fast you were going. Repeat incidents are also going to affect the points. Generally, the more points you have, the higher your insurance premium will be. In some situations, some insurance providers may choose not to offer you a policy at all.
Myrtle Beach car insurance providers usually charge drivers with speeding tickets more than they charge drivers with clean records. On average, drivers with speeding tickets on their records pay $1,382 for annual car insurance. This rate is $224 more than the average rate for drivers with clean records.
Cheap Car Insurance In Myrtle Beach SC After A Car Accident
State Farm offers the best rates for Myrtle Beach drivers who have been at fault for a recent accident. This insurance provider offers rates that are about 54% lower than the statewide average rate of $3,023 annually. Take note that this value is for drivers looking to purchase full coverage insurance.
Here are the best car insurance companies Myrtle Beach SC has for drivers who have been in an accident
|SC Farm Bureau||$2,685|
At-fault accidents have the biggest impact on your car insurance rate. A single at-fault accident can raise your insurance premium by a lot. It doesn’t matter how minor or severe the accident is. As long as you are at fault, insurance providers will offer you less affordable car insurance quotes in Myrtle Beach, SC. Why? At-fault drivers are considered to be high-risk drivers. High-risk drivers get higher insurance rates. However, all hope is not lost. You can apply for accident forgiveness. Accident forgiveness will let you pay a one-time payment that will allow you to wipe your record clean.
Cheapest Auto Insurance Quotes In Myrtle Beach SC After A DUI
A DUI (Driving Under Influence) citation can cause your auto insurance rates to go up significantly. A single citation will cause insurance agencies to see you as a high-risk driver. While drivers can apply for the fallout, the process can be quite cumbersome. Fallouts will generally have you filing long SR-22 files, paying heavy reinstatement fees, and still end up with higher premium rates than before. DUIs generally affect your insurance rates for about 3 to 5 years. It can be longer in some situations. It all depends on your chosen insurance provider.
|SC Farm Bureau||$1,963|
DUI citations are very serious. As such, it is not surprising that the rate increase can be quite high if drivers end up getting caught while driving under the influence. The financial repercussions can be quite significant. Typically, drivers with DUI citations pay about $1,190 more than good drivers for Myrtle Beach car insurance.
Cheapest Auto Insurance Quotes In Myrtle Beach SC For Minimum Coverage
Liability-only policies are the cheapest options available for drivers looking for Myrtle Beach auto insurance. While liability-only policies aren’t the best kind of coverage available, they can be suitable for certain situations.
Going by average premium rates, the most affordable insurance quotes Myrtle Beach SC offers drivers looking for minimum coverage come from
- Geico $489 annually
- USAA $572 annually (Only available to military personnel and their families)
Liability-only policies are also known as the state-required minimum policies. These policies only include the minimum liability insurance that is required by the state. However, while they are the cheapest kinds of Myrtle Beach car insurance available, they may not adequately cover you in case you are at fault for an accident.
State-required minimum policies do not come with collision and comprehensive insurance. If you are ever in an at-fault accident, you will have to pay for damage or loss that you suffer out of your pocket alone. Even if the damage occurs while you are not driving or using the car.
The best auto insurance companies Myrtle Beach SC hosts all offer comprehensive and collision coverage for such situations.
Cheap Car Insurance Companies In Myrtle Beach SC For Drivers With Bad Credit Score
Poor credit scores can raise your car insurance rates by a significant value. On average, drivers with good credit scores pay about $1,156 yearly for car insurance in the state. In contrast, drivers with poor credit scores pay about $1,972 yearly for car insurance. If you are looking for cheap car insurance in Myrtle Beach, SC, then you need to raise your credit score.
The cheap auto insurance Myrtle Beach SC offers to drivers with poor credit scores come from:
- Nationwide: $1,672 annually
- Geico: $1,895 annually
Geico and USAA offer the most affordable car insurance rates Myrtle Beach SC has for drivers with great credit scores. However, Nationwide offers the lowest rates to drivers with poor credit.
Several factors are considered when your insurance provider is setting your rates. These factors may include your age, the kind of vehicle you are trying to insure, and your location within the state. Credit scores are also one of the important factors considered while setting your rates. Drivers in Myrtle Beach, SC, with great credit, pay about $95 monthly for car insurance on average. However, drivers with poor credit pay about $142 monthly.
Cheapest Car Insurance Companies In Myrtle Beach SC For Seniors
Senior drivers typically pay more for car insurance than their younger and middle-aged counterparts. Within the state, seniors pay around $1,186 on average each year for car insurance. This rate is $53 more than the average rate for drivers in their 40s.
The best auto insurance companies Myrtle Beach SC has for senior drivers are:
- Geico $865 annually
- USAA $982 annually (only available to members of the military and their families)
Interestingly, these two companies also offer the best rates for drivers in their 40s looking for Myrtle Beach auto insurance.
Insurance companies see senior drivers are high-risk drivers. The South Caroline NHTSA reports that 13.8% of fatal car crashes involve drivers older than 65. Slower reaction times and lapse judgment while driving are stated to be the reasons for these car crashes. In South Carolina, drivers are required to renew their driver’s license every eight years, no matter their age.
Failing health, make of car, and driving frequency are all other factors that influence the insurance rates offered to senior drivers.
Who Offers A Cheap Car Insurance In Myrtle Beach SC For Married Couples?
Married drivers pay less for auto insurance than their single counterparts on average. The cheap car insurance Myrtle Beach SC offers married drivers comes from Geico and Travelers. Both companies offer rates that are slightly within the same range.
Married drivers pay about $1,915 for auto insurance on average. However, single drivers pay about $2,071 on average. There is a $156 price difference between the two kinds of drivers.
|Company||Married Couple Rates|
It is also worth noting that married couples pay more for auto insurance than single drivers. The most likely explanation for this is the presence of more than one driver on the same car insurance policy. Additionally, married couples usually insure more than one car, and in some situations, teen drivers are added to the policy as well. Myrtle Beach insurance rates for married couples average about $125 monthly. In contrast, single drivers pay about $108 on average for car insurance.
What Are The Different Types Of Myrtle Beach Auto Insurance Coverage?
You may have an idea about how car insurance works. However, do you know the different kinds of auto insurance that are available? If you are out hunting for car insurance, knowing and understanding the several kinds of car insurance and what they cover is a necessity. This knowledge and understanding will help you get the best policy for you.
Here are some examples of car insurance and what kind of coverage they offer.
Uninsured Motorist Insurance
This coverage policy protects you and your vehicle against uninsured motorists. It also protects you against hit-and-run car accidents. Most drivers choose to pair this with the underinsured motorist coverage.
Major Parts Replacement Coverage
This coverage option makes sure that you can replace major parts of your vehicle without any extra charge. The parts you can replace with this coverage include your tires, your car battery, and your brakes, among others. It also doesn’t consider the wear and tear of those parts while replacing them.
Vehicles lose value very quickly. Your Myrtle Beach car insurance may not be enough to cover this depreciation in case of a loan. This is where gap insurance comes in. it covers you for any amount owed on your car loan after a case of theft or complete loss in an accident.
Rental reimbursement insurance
Accidents can leave you without a car for some time. As such, you are getting around can be quite a hassle. This insurance option helps you cover the costs of a rental while your car is being repaired or replaced.
Medical Payments Coverage
Paying hospital bills after a car accident can be quite expensive. The medical payment coverage helps you cover the medical costs you incur as a result of an accident. It doesn’t matter who the at-fault driver is.
Personal Injury Protection Insurance
This coverage option helps you pay for some medical bills and any lost wages as a result of a covered car accident. Your personal injury protection insurance can cover about 80% of your medical bills and other expenses. It all depends on the limits on your policy.
Classic Car insurance
This coverage offers specialized insurance for your vintage and classic cars. This option is specifically tailored for the unique requirements of classic and vintage car collectors. Discuss with your insurance agent to find out if this option is a fit for you.
New Car Replacement
You can use this insurance coverage to pay for a brand-new car of the same model as your previous car if it is declared a complete loss after a covered car crash. You will still have to pay your deductible, but the coverage covers the rest.
Original Parts Replacement
Replacing the parts on your vehicle after an accident can be quite a worrying situation. This is especially true if you don’t know where the replacement parts will be gotten from. Purchasing this coverage option will assure you that all replacement parts will be originals gotten from the carmaker and not any random seller.
Towing and labor insurance
This coverage option is usually made available if you have comprehensive coverage. It reimburses you for any towing and labor fees you may have to pay to get your car repaired.
Almost all states in the US require their drivers to carry this car insurance while driving. It helps to cover for any damages, injuries, or property damages caused to other parties when you are found to be at fault for a covered auto accident.
This insurance coverage helps you pay for any damage done to your car after a collision with another car. It can help you pay for repairs to your car as well as paying for a suitable replacement.
Underinsured Motorist Insurance
Some drivers choose to carry only the state-required minimum insurance in order to get cheap auto insurance in Myrtle Beach, SC. However, this doesn’t offer adequate coverage for all incidents. Underinsured motorist insurance will protect you in situations where the at-fault driver does not have enough insurance to cover the costs of your suffered loss.
Signing up for this coverage option on your policy can ensure that you receive extensive roadside assistance when you need it. This assistance may include car towing, tire replacement, and so on.
Comprehensive insurance offers you additional coverage for any damage done to your car outside of a collision with another car. It can help you pay for damages resulting from vandalism, weather conditions, and collisions with animals while driving.
Is Myrtle Beach SC Auto Insurance A No-Fault?
Myrtle Beach operates an at-fault accident system. As such, the financial responsibility for all losses resulting from a car crash falls on the at-fault driver (the driver who caused the accident). Additionally, the at-fault driver is also held responsible for any harm that the accident causes. Practically, the insurance provider of the at-fault driver will step in to cover the costs of the accident up to the limits of the policy.
Persons who suffer injuries, damage, or loss from a car crash in Myrtle Beach can do one of three things to get compensation.
- They can file a claim with their insurance provider (as long as the damage or loss is covered by their policy). Their insurance provider will then file a subrogation claim against the insurance provider of the at-fault driver.
- They can choose to file a third-party claim with the insurance provider of the at-fault driver.
- They can also choose to file a personal injury lawsuit in a civil court against the responsible driver.
No-fault states do not offer their drivers this range of options. Drivers are required to use their personal injury protection insurance on their policies to cover any loss or damage caused by the car accident. No-fault states do not pay attention to which driver is responsible for the accident. However, if the loss, damage, or injury exceeds a certain threshold, drivers can go around the no-fault rules and file a claim against the driver who is at fault. Drivers in Myrtle Beach, SC, do not have to worry about no-fault, though, since South Carolina operates an at-fault system.
Ways To Reduced Rates In Myrtle Beach SC Car Insurance
The long-term goal is to get cheap car insurance in Myrtle Beach, SC. All drivers want affordable insurance quotes in Myrtle Beach, SC, and there are quite a few ways to go about it. The best auto insurance companies Myrtle Beach SC has to offer all provide ways that their customers can save some dollars on their Myrtle Beach auto insurance.
Here are the few most common ways to save on your Myrtle Beach car insurance:
- Opt for usage-based auto insurance if available
- Keep an eye on price variations on your car insurance policy.
- Shop around for more affordable car insurance rates.
- Bundle up your auto insurance with other insurance policies
- Increase your deductibles if you can afford
- Pay your annual auto insurance fees in full in one payment.
Good Drivers Car Insurance Discounts In Myrtle Beach SC
Good drivers are drivers with a clean driving record. There are several discounts offered to such drivers in Myrtle Beach, SC. Depending on the age of the driver, the driver’s lifestyle, their driving record, and how they manage their policy, drivers can qualify for multiple discounts that can earn them considerable savings on their insurance payments.
Some of the available discounts include:
- Multi-Policy Discount
- Multi-Car Discount
- Senior Driver or Adult Driver Discount
- Resident Student Discount
- Good Student Discount
- Safe Driver Discount
- Defensive Driver Discount
- Accident-Free Discount
- Homeowners Discount
- Vehicle Safety Discount
- Passive Restraint Discount
- Anti-Lock Brake Discount
- Anti Theft Device Discount
- New Car Discount
- Economic Car Discount
- Utility Vehicle Discount
- Farm Vehicle Discount
- Full Payment Discount
How To Buy Car Insurance In Myrtle Beach?
The idea of purchasing Myrtle Beach auto insurance can be quite daunting. However, the process is a very simple one. You can most likely get it all done in one sitting. Here are some steps to guide you.
- Pick a model of shopping: You can choose to shop for auto insurance online, or you could opt to visit the insurance agency in person. Some people also purchase their policies through a marketplace, and an expert will help them choose which coverage option best suits them.
- Collect information as much as you can: Before purchasing your auto insurance policy, you will need to know the VIN number of your car as well as its make and model. You will also need to provide personal details such as your full name, your birthday, and your driver’s license number. You need to provide these details for any other driver that will be added to your policy.
- Choose the amount of coverage you’ll need: Once you know the kinds of coverage options available and what amount you’ll need, you can start shopping. The best car insurance companies in Myrtle Beach, SC, all offer the same set of basic components. However, the extent of protection you’ll get from a provider depends on the limits of your policy. A higher limit equals more protection. However, a higher limit also means higher insurance premiums.
- Complete an application form: To get quotes that match your needs and requirements, you will need to fill out all the required information on an application form provided by an insurance provider. You’ll need to do this very honestly as your quotes will be a reflection of your personal circumstances.
- Compare insurance quotes across companies: Auto insurance providers make it easy for drivers to receive quotes from them. However, comparing insurance quotes requires more than comparing the costs. You need to take customer reviews into consideration in order to determine if the insurance company will be the right fit for you.
- Decide on a policy: Once you have picked a policy, you can pay for it and set it to take effect when you need it.
- Cancel your previous insurance coverage: Wait till you have picked a new insurance policy before you cancel your previous one. Additionally, you should make sure that both policies end and start on the same day, so there’s no gap in your insurance coverage.
Car Insurance Myrtle Beach SC Questions And Answered
Is auto insurance mandatory in South Carolina?
Yes, all states in the United States of America require drivers to carry one form of car insurance or the other. However, car insurance rules and regulations vary across states. To ensure that you purchase the right auto insurance, visit the transportation website of your state government.
What is the cheapest policy?
Auto liability insurance is the most affordable insurance policy. However, it is recommended that you purchase more coverage than this.
What is liability car insurance?
Liability insurance is the portion of your car insurance policy that covers the expenses incurred when you are responsible for an accident. There are two major components of liability car insurance.
Bodily injury liability coverage
This coverage option covers you if you hurt others in an at-fault car accident. It covers things like medical bills and fees, recovery treatment, and any wages lost while recovering from the accident. It can also pay for a funeral if the accident is a fatal one.
Property damage liability coverage
This insurance coverage covers any damage you cause to others’ properties in an at-fault accident. It can help pay for repairs of the other driver’s car or replacing a fence that you might have crashed into.
You should know that property damage coverage also covers the loss of things that are in the other driver’s vehicle. For instance, if the driver loses a $4000 diamond as a result of an accident that you caused, then you are liable to pay for this diamond, and your property damage coverage covers for this.
It can also cover for lawyer or court fees if you end up being sued after an at-fault accident.
How do auto insurance companies determine quotes?
All car insurance providers have their own unique methods for determining quotes offered to customers. Most of these methods focus on calculating the probability or chances of a driver getting into a car accident based on statistics. Insurance providers usually consider your gender, age, driving routes, the make and model of your car, driving experience, driving record, credit score, and where you park your car.
How do insurance companies assess my risk?
Most companies use a Risk Assessment Indicator to determine your risk level. A risk assessment indicator is a score assigned to you based on the information contained in your credit report.
What should I do to lower my auto insurance costs?
There are several ways to lower your car insurance costs. You can
- Change your car to one that’s easier to insure
- Modify your car to make it safer or low-risk by installing safety and anti-theft devices.
- Raise your deductibles
- Change your driving habits and reduce your mileage
There are several other ways to save up on your auto insurance; you should discuss with your agent to find out more.
Will my auto insurance policy cover me in a rental vehicle?
Yes. However, your rental must be of a similar value to your car. If you aren’t purchasing collision or comprehensive insurance and a project that you might be renting in the future, then you should add rental car coverage to your policy.
Why did my auto insurance rates go up?
Here are some reasons your rates may go up
- You just got into an accident
- You recently filed a claim
- You added a driver to your policy
- Your local insurance industry is going through changes.
Shop around for new policies if you are uncomfortable with your current provider.
Are car insurance quotes free?
Yes. You don’t need to pay until you actually sign up for a car insurance policy.
Does the policy include towing and roadside assistance, and is it available on a 24/7 basis?
Towing is usually available for any incident that might happen while you are driving. The same goes for roadside assistance. Having both of these on your policy can save you some money as compared to having to call a local mechanic. Take your time to discuss these coverage options with your insurance agents while purchasing a policy.
How do I get car insurance for the first time?
Getting added to a parent’s car insurance policy is the best option for younger drivers. However, if you are doing things yourself, then you may have to compare rates across multiple car insurance companies to find the cheap car insurance Myrtle Beach SC offers. Bear in mind that policies can be quite expensive if you don’t have a lot of experience as a driver.