Automobile

Everything You Need to Know About Car Insurance in Myrtle Beach, South Carolina

When getting car insurance in Myrtle Beach, South Carolina, it’s important to compare companies and coverage to ensure you get a policy that gives you the right amount of coverage at an affordable price. Many factors go into the pricing of insurance policies, including age, gender, and number of accidents and moving violations.

Car insurance in Myrtle Beach, South Carolina, requires minimum liability coverage for motorists to be able to drive in the state. Coverage requirements include:

  • $50,000 bodily injury liability per accident.
  • $25,000 bodily injury liability per person.
  • $25,000 property damage per accident.

    Car Insurance: Myrtle Beach Rates vs. State and National Averages

    Insuring your vehicle in Myrtle beach costs slightly less than the average for the state at around $1104 per year. The average for the state is around $1200 for minimum coverage, which is higher than the national average.

    Myrtle Beach Auto Insurance Costs by Insurer

    Many insurers provide coverage for drivers in Myrtle Beach. This gives drivers a wide range of options to find the coverage they need at a cost that will fit in the budget. Below are some of the most popular companies in the city and what a driver can expect to pay on average for annual coverage.

    • The Hartford: $760
    • USAA: $1319
    • Travelers: $1370
    • State Farm: $1416
    • Allstate: $1639
    • Progressive: $1675
    • Nationwide: $1774
    • Safe Auto: $2856

      Myrtle Beach Auto Insurance Premiums by Driver Age

      While your chosen insurer will play a large role in the rates that you pay for insurance, your age is a major factor as well, according to TheZebra.com. With age comes driving experience, so the longer you’ve been on the road, the more likely you’ll see lower rates.

      Teens will see the highest rates, often four times higher than middle-aged people, who see the best rates. Below is the average annual cost you can expect to pay for full coverage in Myrtle Beach based on your age.

      • Teens: $6090
      • 20: $4008
      • 30: $3300
      • 40: $3156
      • 50: $3060
      • 60: $2412
      • 70: $2976

        Myrtle Beach Car Insurance Premiums by Gender and Marital Status

        As mentioned on Compare.com, your gender and marital status can also affect your average annual insurance rates, though not as significantly as your age. Female drivers will spend more in the state on average, though the difference only amounts to about $12 per year.

        Your marital status will have a slightly greater effect on your insurance rate, especially if you’re single. Single drivers will pay almost $240 more per year for car insurance than those who are married, and married drivers will pay about $40 more per year than divorced or widowed drivers.

        Average Myrtle Beach Insurance Rates After a Violation or Accident

        Another factor that can affect your rates the same, if not more than your age, is your driving record, Wallethub.com says. Having a DUI or an at-fault accident on your record can lead to an increase of over 30%, while a minor incident can result in a 15% increase. Below you will see some of the average rates for drivers who have an accident or violation on their record.

        • Hit and Run: $2195
        • DUI: $2125
        • Reckless Driving: $2063
        • At-Fault Accident: $1967
        • Improper Passing: $1667
        • Speeding: $1649
        • Distracted Driving: $1607
        • Failure to Wear a Seat Belt: $1464

          Myrtle Beach Auto Insurance Premiums by Credit Tier

          As stated on Nerdwallet.com, South Carolina is a state that allows insurance companies to use your credit rating when determining your insurance rates. Insurance companies label those with poor credit as high risk, as statistically they are more likely to file a claim than those with a credit rating of Good or Excellent. This will lead to an increase in rates. The average monthly cost you can expect to pay based on your credit rating is listed below.

          • Excellent: $291
          • Good: $284
          • Average: $282
          • Poor: $299

            Most Expensive Myrtle Beach ZIP Codes

            Even though the city of Myrtle Beach has only three ZIP codes, two of them have a significantly higher population. The higher population means heavier traffic, a higher risk of accidents, and higher crime rates. These factors can result in higher claims, which makes insuring a car in ZIP codes 29577 and 29575 more expensive.

            Cheapest Myrtle Beach ZIP Code

            The cheapest ZIP code for insuring your vehicle in Myrtle Beach is 29572. The area is less populated and more suburban, which means lower traffic rates and a lower risk of accidents.

            Insurance Companies in Myrtle Beach

            Many insurance companies are available in Myrtle Beach. Determining which one is best for you will likely have to do with your specific insurance needs, the discounts you can take advantage of, and your budget.

            Companies such as USAA are low-cost but require membership in the military to qualify. The Hartford is one of the cheapest carriers in the city but has fewer personal agents than State Farm and Allstate.

            Companies such as GEICO and Progressive offer many discounts and great rates as well but are more geared for those who prefer to handle their insurance online. With their services, you will be able to get a policy quote, manage a current policy, and file a claim.

            Some of the most expensive carriers in the city are Safe Auto and Nationwide, but they offer several unique coverages buyers are looking for.

            Myrtle Beach is in an At-Fault State

            South Carolina is an at-fault state, which means the driver’s insurance found to be at fault for the accident will cover the cost for damages. If a driver is uninsured, they can be taken to court and sued for damages.

            If you’re looking for car insurance in Myrtle Beach, South Carolina, be sure to shop around. By finding the right coverage and taking advantage of as many discounts as possible, you can find the right insurance to fit your budget.

            Check this out if you need additional information, resources, or guidance on car insurance.

            Sources:

            Car Insurance | caranddriver.com

            Myrtle Beach, SC Car Insurance | compare.com

            Best Cheap Car Insurance in South Carolina for 2021 | nerdwallet.com

            Cheap South Carolina Car Insurance | thezebra.com

            Cheapest Car Insurance in South Carolina | wallethub.com

            Progressive Teenage Car Insurance: Everything You Need to Know | caranddriver.com

            DUI Insurance Rates: Everything You Need to Know | caranddriver.com

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