Cheapest Car Insurance Quotes for Uber Drivers in South Carolina

The vehicle you are insuring is one of the biggest factors when quoting the cheapest car insurance for Uber drivers in South Carolina. Vehicles with lower acceleration and performance, a plethora of safety features, or a low likelihood of liability claims will cost less to insure than fast, unsafe models.

The data below illustrates coverage rates for a selection of the cheapest automobiles to insure.

Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate information does not factor in specific garaging location which can lower or raise coverage prices considerably.

Looking at the rates, vehicles like the Honda CR-V, Toyota Prius, Ford Explorer, and Chevrolet Traverse will definitely be the cheaper vehicles to insure for Uber vehicles.

Establishing which company quotes the cheapest car insurance rates for Uber drivers will involve a tad more effort in order to find the best price. Each insurer has a unique approach to set policy rates, so we’ll go over the car insurance companies with the overall cheapest rates in South Carolina.

Best Insurance Companies for Your Uber Vehicle

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The Hartford quotes some of the most affordable car insurance rates in South Carolina at around $745 each year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also make the cut as some of the most economical South Carolina car insurance companies.

As the example above demonstrates, if you are currently insured with State Auto and switched to The Hartford, you might see a yearly savings of around $360. Insureds with Auto-Owners may save as much as $396 a year, and SC Farm Bureau Mutual customers might realize rate reductions of up to $503 a year.

It’s important to note that these policy prices are averages for all ages of drivers and types of vehicles and are not factoring in a price decrease for Uber drivers. So the auto insurance company that fits you best may not even be included in the above list. That is why you need to compare as many prices as possible using your own individual information.

Full coverage rates vs. liability-only

Finding the cheapest car insurance for Uber drivers in South Carolina is the goal of most vehicle owners, and one great way to save on the cost of insurance is to only buy liability coverage. The chart below illustrates the difference between car insurance costs with and without full coverage. The price estimates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

If we average the cost for ages 20 through 70, comp and collision coverage costs an additional $1,794 per year more than insuring for liability only. That is a big expense that brings up the question if paying for full coverage is worth it. There is no set guideline of when to stop paying for physical damage insurance, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s pretend your vehicle’s book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after the deductible is paid. If premiums are more than $700 a year for full coverage, the it may be a good time to stop paying for full coverage.

There are some situations where only buying liability is not recommended. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.

Discount South Carolina insurance

Insurance companies that sell the cheapest car insurance for Uber drivers in South Carolina may have policy discounts that can reduce rates by as much as 25% or more if you meet eligibility requirements. The best car insurance companies and some of their more popular discounts are detailed below.

The chart below shows the comparison of insurance costs with and without discounts being applied to the rates. The costs are based on a female driver, a clean driving record, no claims, South Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, defensive driving course, multiple vehicle, accident-free, homeowner, and safe-driver discounts applied. When these discounts are applied to the policy premium, the the average yearly reduction on car insurance for Uber drivers is % or $.