Greenwood Car Insurance
The City of Greenwood offers the best of both worlds. With small-town charm and big city amenities, it's a great place to settle down for families and active singles alike.
With acres and acres of county parks, award-winning healthcare facilities, and the local Uptown area to promote economic growth, Greenwood has loads to offer residents.
Living in Greenwood has its perks, but one drawback is that there's not access to quality public transportation. Since Greenwood has a low Walk Score, it's a car-dependent city where most errands and commutes require your own vehicle.
To own a car in South Carolina, it's your duty to comply with state insurance laws. Here's what you need to know before you start shopping for coverage.
Read through this article and then enter your zip code into our FREE comparison tool to browse car insurance rates from the best companies in Greenwood today!
Auto Insurance is Mandatory in South Carolina
In South Carolina, anyone who owns a car registered in the state must carry auto insurance to drive their vehicle or lend their vehicle to other drivers.
If you don't buy insurance and maintain coverage continuously while the vehicle is in your name, you're in violation of the law and could face misdemeanor charges and other penalties.
What type of insurance is required by law in South Carolina?
Every state has its own unique set of laws pertaining to car insurance.
Since the laws vary from state to state, it's important to brush up on the requirements whenever you're moving to a new state. In the Palmetto State, the state mandates that all cars are insured with the following basic coverage options:
- Bodily Injury Liability: $25,000 per person, $50,000 per accident
- Property Damage Liability: $25,000 per accident
- Uninsured Motorist: $25,000 per person, $50,000 per accident
What does Bodily Injury cover?
Bodily Injury is third-party liability coverage that pays when you're at-fault in an accident.
It specifically pays for a victim's medical bills, lost income, settlements and other services they may need to recover from an injury sustained in a car crash. Since South Carolina is a state that operates under tort law, it's your duty to pay for damages when you cause a crash.
What does Property Damage cover?
Like BI, Property Damage is a third-party liability coverage that pays other parties when you're the cause of an accident.
Instead of paying for medical bills, your PD coverage will pay to repair non-owned property that's been damaged during the course of a crash.
Property can include cars, recreational vehicles, fences, buildings, sheds and more.
What does Uninsured Motorist Protection cover?
Many states only require drivers to buy third-party coverage, but state officials in South Carolina also require Uninsured Motorist Protection.
While UM is often considered optional, it's a basic state requirement in SCbecause of the high rate of uninsured motorists.
Uninsured Motorist is a provision that pays for your medical expenses, lost income and other settlements when you suffer injuries in an accident that a driver without insurance causes. It replaces the drivers Bodily Injury coverage to ensure that you can recover from the loss without having to worry about finances.
Your Right to Register as an Uninsured Motorist
Very few states allow drivers to voluntarily drive as uninsured motorists. South Carolina is one of the states where you can legally drive without insurance as long as you're registered.
To register as an uninsured motorist, you must meet some state qualifications. Here are the criteria that must be met:
- You and all household drivers must have 3 years of driving experience
- You must not have a moving violation within the last 3 years
- You must not be required to file an SR-22 with the state
- You must not have two or more accidents exceeding $600 in damages
Are there consequences for registering as an uninsured motorist?
Just because you're registered to drive uninsured doesn't mean that you won't pay the price if you have an accident.
You may legally drive without coverage when you pay a $550 Uninsured Motorist Fee but an accident could become a disaster.
Most people aren't aware of they're responsibility to pay for damages after a loss when they're registered through the state. If you can't pay the damages and you're reported, you could have your license and license plates suspended even though you paid the fee to drive without any liability insurance.
What are the penalties for driving without insurance?
If you don't pay the fee to drive without insurance and your coverage lapses, you could face some stiff penalties. It's important to research these penalties before they're assessed so that you see the importance of buying insurance. Here are some of the
Here are some of the monetary and non-monetary costs for being without insurance:
- If cited, your license will be suspended and you will be ordered to pay a $500 reinstatement fee
- If driving a non-owned vehicle, your license will be suspended for 30 days and you'll be charged a $100 reinstatement fee
- Suspension of registration until you show proof of insurance
- Fines vary for owners and drivers of non-owned vehicles
Are uninsured motorists a problem in Greenwood?
In a state like South Carolina, it's very difficult to research the rate of uninsured drivers simply because people can register to legally be uninsured.
Based on the latest statistics, about 7.7 percent of drivers in the state are uninsured. This statistic might be low compared to other states, but any rate of uninsured motorists can leave you vulnerable to losses.
It might help you a little bit to do the math and estimate how many drivers in your area don't have insurance.
The population in Greenwood County is 69,838. If you do the calculations based on statewide uninsured motorist rates, that means about 5370 drivers living in close proximity to you don't have any liability coverage. This is why the state requires UM benefits.
Should you buy medical payments coverage?
Medical payments is a first-party benefit that pays for your medical expenses when you're being treated after a crash. It doesn't matter if you were a pedestrian, a driver or a vehicle occupant, as long as the injuries involved a vehicular accident.
The benefit is optional but can help you cover the bills that pile up when you need healthcare services.
Greenwood, South Carolina may have a low Health Care Index, but that doesn't mean that you don't need the extra protection. Having Medical Payments will help you cover immediate costs, deductibles, and co-payments that could otherwise break the bank.
It's also advisable to carry the benefit if you drive friends around in your car often.
Do you need to carry physical damage coverage?
The state never requires any vehicle owner to carry physical damage coverage for their own vehicle.
If you own a vehicle outright without any loss payee or lessor, you can decide if you want comprehensive and collision on your policy. Anyone with a current lending agreement must maintain coverage to avoid expensive force-placed insurance charges.
Is full coverage worth the cost?
In Greenwood, the transportation index is much lower than the national average but that doesn't mean that auto insurance expenditures are low.
Based on statistics released by the Insurance Information Institute, South Carolina ranks 20th on the list of most expensive states for auto insurance expenditures.
If you're trying to decide whether or not to buy comprehensive and collision, it can help to break down the costs. Based on the averages reported, it costs about $165 per year for comprehensive and about $243 per year for collision.
You should look at the value of your car to see if it's worth the premium even if you don't file a claim.
Are you vulnerable to theft and vandalism losses in Greenwood?
Greenwood is no stranger to crime. In fact, the crime rates are rather high in the city even though the population is fairly small.
Approximately 38 motor thefts were reported in the last year alone. Based on the city's population, your chances of becoming a victim of property crime is about 1 in 16. This is much higher than the national average which is 1 in 26.
Since you are vulnerable to property crime in Greenwood, it makes sense to keep at least comprehensive coverage on your car.
It's best to price the cost of the coverage before rejecting it. Since the cost is based on the vehicle type, average cost to repair and zip code where you live, the premiums can vary.
The only way to see how much coverage you can afford to carry is to get auto insurance quotes. If you're on a mission to find a good deal, comparison shop by using an online rate comparison tool. Enter your zip, select coverage options, and compare the instant insurance quotes.
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