Who Has the Cheapest Insurance for Electric Cars in South Carolina?

Establishing which companies have the most affordable insurance rates for electric cars will require a tad more effort than just getting one or two price quotes. Each insurer uses a little different formula for establishing rates, so let’s rank the overall cheapest insurance companies in South Carolina.

It’s important to know that South Carolina insurance rates are determined by lots of factors which can substantially change the price of coverage. Simply turning a year older, having a claim, or getting a DUI can produce rate changes that can now make some companies more affordable than competitors.

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The Hartford may have some of the lowest car insurance rates in South Carolina at around $745 per year. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual also make the cut as some of the best South Carolina insurance companies.

As depicted above, if you are currently insured with SC Farm Bureau Mutual and switched to USAA, you might realize yearly savings of about $291. Policyholders with Southern Farm Bureau may save as much as $291 a year, and National Grange Mutual insureds might cut rates by $326 a year.

These estimates are averages for all types of insureds and vehicles and do not factor in a price discount for electric cars. So the company that can offer you the best price may not even be in the list above. That underscores the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

The vehicle on the policy is one of the primary factors when shopping around for the cheapest insurance for electric cars in South Carolina. Vehicles with high performance features, poor safety features, or an increased likelihood of liability claims will cost significantly more to insure than more modest models.

The tables below estimates insurance rates for a handful of the most budget-friendly vehicles to buy coverage for.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Estimates do not factor in specific location which can revise insurance rates considerably.

Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rate information does not factor in specific location which can decrease or increase prices substantially.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Prices do not factor in vehicle garaging location which can raise or lower premiums noticeably.

For eco-friendly vehicles, one of the largest factors that helps auto insurance companies calculate rate quotes is where you choose to live. Regions with more people or even just more weather-related claims like Florence, Charleston, and Goose Creek are more likely to pay higher prices, whereas areas with less people or fewer weather incidents can boast about having cheaper rates.

The illustration below sorts the more expensive cities in South Carolina for electric cars to buy an auto insurance policy in.

Premium costs are estimated as the specific zip code location can influence prices considerably.

Impact of citations and accidents on South Carolina insurance rates

A great way to get the best insurance rates for eco-friendly vehicles is to drive attentively and have a clean driving record. The illustration below illustrates how speeding tickets and fender-benders raise insurance prices for different age groups. The information is based on a single male driver, full coverage, $100 deductibles, and no policy discounts are applied.

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In the previous example, the average cost of a car insurance policy in South Carolina per year with no accidents and a clean driving record is $1,957. Get written up for two speeding tickets and the average cost surges to $2,596, an increase of $639 each year. Now include one accident along with the two speeding tickets and the annual cost of insurance for electric cars increases to an average of $3,237. That’s an increase of $1,280, or $107 per month, just for being a little careless behind the wheel!

Buying coverage from the top car insurance provider can be challenging considering how many companies there are to choose from in South Carolina. The company ratings in the next section can help you analyze which companies to look at when buying insurance for electric cars. The ratings below only include companies that insure vehicles across America, so companies that only write business in South Carolina or surrounding areas will not be included in the list.

Progressive, State Farm, Geico, or Allstate: Who is cheapest?

When it comes to auto insurance, the most popular companies are Progressive, State Farm, Geico, and Allstate. If you combine them together, they insure over 48% of the entire U.S. car insurance market. The data below breaks down ratings and policy coverage options that policyholders can buy.