Cheapest Car Insurance for a Company Car in South Carolina

Finding reliable, cheap auto insurance is not the easiest thing to accomplish, and deciding which company has the most affordable insurance rates for a company car will take even more perseverance.

Every auto insurer has their own unique process to set their prices, so we need to take a look at the insurance companies that tend to be cheaper in South Carolina. It’s important that you understand South Carolina insurance rates are calculated based on many things which can substantially change the price you pay. Things like having a birthday, buying a different vehicle, or getting a speeding ticket may generate price changes that can cause some rates to be way too expensive in comparison to the competition.

Find the Cheapest Car Insurance in South Carolina

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The Hartford quotes some of the best car insurance rates in South Carolina at around $745 each year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual would also be considered some of the cheapest South Carolina insurance companies.

As shown above, if you buy coverage from Auto-Owners and switched to The Hartford, you might achieve savings of in the vicinity of $408. Drivers with SC Farm Bureau Mutual might save as much as $541 a year, and Southern Farm Bureau customers might lower prices by $553 a year.

Bear in mind that those rates are averaged across all insureds and vehicles and and are not figured with a rate discount for a company car. So the company that can offer you the best rate may not even be featured in the rate chart shown above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.

The type of vehicle that is being insured is a large consideration when comparing quotes for the most affordable car insurance for a company car. Vehicles with more horsepower, a lack of safety features, or a history of substantial liability claims will cost much more to insure than more modest models.

The lists below shows auto insurance premiums for a selection of the most cost-effective vehicles to insure.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Rates do not factor in the specific area where the vehicle is garaged which can alter rates significantly.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Table data does not factor in zip code location which can impact prices considerably.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Rate quotes do not factor in zip code location which can lower or raise coverage prices considerably.

One of the key components that auto insurance companies take into consideration when calculating a rate quote is where your home is located in South Carolina. Densely populated urban areas like Florence, Goose Creek, and Summerville likely pay more, whereas areas with less people or fewer weather incidents benefit from lower prices.

The table below rates the higher priced cities in South Carolina for a company car to purchase car insurance in.

Prices are approximated as the vehicle garaging location can increase or decrease prices substantially.

How much more does full coverage cost in South Carolina?

Finding the cheapest car insurance for a company car in South Carolina is probably important to most people, and one great way to pay lower rates for insurance is to only buy liability insurance. The illustration below illustrates the comparison of premium costs when comparing full coverage to liability only. Data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are factored in.

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Averaged for all ages 20 through 70, physical damage coverage on your policy costs an extra $1,435 per year more than just buying liability only. That brings up the question if paying for full coverage is worth it. There isn’t a steadfast formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.