Cheapest Car Insurance for Low-Income Drivers in South Carolina (October 2024)


South Carolina Farm Bureau is the cheapest car insurance company for individual drivers with low income and poor credit history in South Carolina, at $75 per month. For families with low income, Auto Owners is the most affordable provider at $80 per month.

South Carolina does not offer state-backed car insurance programs for individuals and families with low income. One option for managing the cost is to look for the provider with the most affordable rate. There are also ways to get discounts to help alleviate the cost of car insurance. Note that minimum coverage can help you drive legally, but there are downsides. For example, minimum coverage may not cover all expenses in an at-fault accident.

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Cheapest for Individuals With Low Income

South Carolina Farm Bureau is the cheapest car insurance provider in South Carolina for individual drivers with low income and poor credit history. Its average minimum coverage premium is $75 per month or $895 per year.

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Cheapest for Families With Low Income

Auto-Owners is the cheapest car insurance provider in South Carolina for families with low income. Its average minimum coverage premium is $80 per month or $961 per year.

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Cheapest for Senior Drivers With Low Income

South Carolina Farm Bureau is the cheapest car insurance provider in South Carolina for seniors with low income and poor credit scores. Its average minimum coverage premium is $68 per month or $817 per year.

Why Trust MoneyGeek? We analyzed thousands of data points and quotes from Quadrant Information Services and the South Carolina Department of Insurance to get the cheapest average costs for drivers with low income in South Carolina.

30,900Quotes Analyzed
 
14Companies Compared
 
35ZIP Codes

Does South Carolina Offer Low-Income Insurance?

Car insurance companies do not consider income when calculating car insurance rates in South Carolina. Instead, factors like age, driving record, credit history and type of car play a significant role. At-fault accidents and moving violations can increase your rates. Comparing quotes from several companies is the best way to find the cheapest rates.

If your budget is tight, a basic minimum coverage policy is often the cheapest way to stay legal on the road. South Carolina also offers pay-per-mile insurance, which is an excellent option for drivers who rarely drive. MoneyGeek rounded up the cheapest insurers for drivers with low income in South Carolina to help you save.

Minimum Car Insurance Requirements in South Carolina

To legally drive in South Carolina, you must have car insurance that meets the state's minimum car insurance requirements. Your policy should include at least the following coverages:

  • $25,000 for bodily injury liability per person
  • $50,000 for bodily injury liability per accident
  • $25,000 for property damage liability per accident
  • $25,000 uninsured motorist bodily injury per person
  • $50,000 uninsured motorist bodily injury per accident

Understanding the difference between liability-only car insurance and full coverage car insurance is crucial. Liability-only insurance covers the other driver's expenses in an accident you cause. To protect your own vehicle, you'll need full coverage, which includes collision and comprehensive coverages. These protect against non-collision incidents like theft or natural disasters.

Assessing your individual risks and benefits helps determine the right coverage for your situation.

Cheapest Car Insurance for Individuals With Low Income in South Carolina

Your credit record can affect your car insurance rates in South Carolina. A lower credit-based insurance score may signal to insurers that you're a higher risk, which can lead to more expensive premiums.

South Carolina drivers with poor credit records can find affordable rates with:

  • South Carolina Farm Bureau: $895 per year; $75 per month
  • Progressive: $949 per year; $79 per month

The cheapest car insurance in South Carolina for drivers with low income and a good credit history are:

  • American National P&C: $375 per year; $31 per month
  • South Carolina Farm Bureau: $483 per year; $40 per month

Driving without insurance in South Carolina is considered a misdemeanor and can lead to suspension of your driver's license and vehicle registration, fines ranging from $175 to $1,000 and other penalties. Make sure you're covered to drive legally and safely.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
South Carolina Farm Bureau$895$75
Progressive$949$79
American National P&C$1,258$105
Allstate$1,285$107
Travelers$1,309$109
American Family$1,434$120
Auto-Owners Insurance Co$1,511$126
GEICO$1,524$127
State Farm$1,703$142
Bristol West$2,420$202
Dairyland$3,177$265
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

Cheapest Car Insurance for Families With Low Income in South Carolina

Although your income doesn't affect your car insurance rates, being a single parent can. In South Carolina, a single parent with a teen pays about $512 more annually than a married couple with a teen. The monthly rate for single parents is also higher by $43 compared to married couples without teens.

The cheapest car insurance companies for a married couple with a teen in South Carolina are:

  • Auto-Owners: $961 per year; $80 per month
  • State Farm: $1,208 per year; $101 per month

The cheapest car insurance companies for a single parent with a teen are:

  • Auto-Owners: $1,473 per year; $123 per month
  • State Farm: $1,870 per year; $156 per month

Married couples with a teen can find more affordable car insurance options than single parents. This rate difference highlights the impact that family structure can have on insurance costs. Regardless of family type, it's important to keep a good credit score to secure the most affordable rates.

Data filtered by:Results filtered by:
Family Type:
Family Type:Married Couple with Teen
Auto-Owners Insurance Co$961$80
State Farm$1,208$101
Allstate$1,234$103
Travelers$1,308$109
GEICO$1,356$113
Progressive$1,697$141
Bristol West$3,183$265

Cheapest Car Insurance for Seniors With Low Income in South Carolina

Car insurance premiums generally decrease as you reach the early senior years, typically around age 55 to 65, especially if you have a clean driving record. The two cheapest car insurance for senior drivers with low income and poor credit history are:

  • South Carolina Farm Bureau: $817 per year; $68 per month
  • Progressive: $880 per year; $73 per month

After the age of 70, car insurance rates typically increase, as older drivers are statistically considered higher risk. This trend continues each year, meaning premiums generally rise as seniors age. South Carolina has specific laws and guidelines for seniors getting car insurance.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
South Carolina Farm Bureau$817$68
Progressive$880$73
Travelers$1,356$113
American National P&C$1,428$119
Allstate$1,452$121
GEICO$1,472$123
Auto-Owners Insurance Co$1,582$132
State Farm$1,614$135
American Family$1,912$159
Bristol West$2,344$195
Dairyland$2,877$240
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

What Factors Affect Car Insurance Rates in South Carolina?

Income doesn't directly affect car insurance rates in South Carolina. However, your rates could increase if low income leads to a poor credit record. Good credit can help keep your rates lower. Understanding the factors contributing to car insurance rates in the Palmetto State can help you make informed decisions when choosing the best car insurance for you.

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    Driving record

    At-fault accidents and moving violations increase rates for drivers. A clean record can help you get cheaper rates.

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    Age and gender

    Younger drivers and males typically face higher rates. Insurers see them as a higher risk.

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    Credit history

    Poor credit history can lead to higher insurance rates. Insurers use your credit-based insurance score to assess risk.

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    Location

    Living in urban areas usually means higher rates due to a higher risk of theft or accidents.

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    Vehicle type

    Expensive or high-performance cars often have higher insurance rates. They cost more to repair or replace.

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    Coverage levels

    Higher coverage levels generally cost more. Minimum coverage is cheaper but offers less protection.

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    Insurance company

    Different insurers offer various rates and discounts. It's important to compare quotes to find the best deal.

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    Claims history

    A history of filing claims can lead to higher rates as it indicates a higher risk to insurers. It might pay not to file a claim if you can afford repairs.

How to Save on Car Insurance in South Carolina

Finding affordable car insurance in South Carolina can be done through several strategies, whether or not you qualify for state-sponsored programs for drivers with low income. Here are some tips to lower your car insurance premiums:

  1. 1
    Choose minimum coverage

    Opting for the state-mandated minimum coverage can help you save by fulfilling only the legal requirements to drive. You'll still be covered but at a lower cost.

  2. 2
    Comparison shop

    Getting quotes from multiple insurers lets you compare rates and discounts. Shopping locally might help you find the most competitive rates in South Carolina.

  3. 3
    Look for discounts

    Many insurance companies offer discounts for being a good student, having a safe driving record, being a military member or bundling multiple policies together.

  4. 4
    Increase your deductible

    Opting for a higher car insurance deductible can reduce your monthly premium. However, ensure you can afford the deductible in case of an accident.

  5. 5
    Bundle your policies

    If you have other insurance needs, like home or renters insurance, bundling them with your auto policy can lead to savings. The best home and auto bundles can save you around $496 each year.

  6. 6
    Drive a cheaper car

    Your car's make, model and year influence your insurance costs. Driving the cheapest cars to insure can save you hundreds of dollars annually on insurance.

FAQ: Low-Income Car Insurance in South Carolina

Finding affordable car insurance for drivers with low income is a common challenge. Get answers to some of the most frequently asked questions about low-income car insurance in South Carolina.

Does South Carolina have a state-backed low-income car insurance program?

How can low-income families get affordable car insurance in South Carolina?

Does your income affect the cost of car insurance in South Carolina?

What are the benefits of usage-based telematics programs for drivers with low income in South Carolina?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.