Average car insurance cost in Columbia, SC

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The average car insurance cost in Columbia, South Carolina is $1,973 per year, according to Insure.com data analysis. Also, the car insurance rates in Columbia is $36 less than the average rates in South Carolina and $78 more than the national average.

Most insurance providers consider factors such as location, city demographics, population density, and average resident age, accident rates, theft and vandalism rates while determining your car insurance premium. This may lead to either lower or higher costs compared to other regions.

This article provides details on the most and least expensive car insurance companies in Columbia, the average car insurance rates categorized by age and gender, and the cost of car insurance in Columbia based on coverage limits. Whether you’re a new driver or an experienced driver, this article will help you find the most cost-effective auto insurance in Columbia. Read on to learn more.

Cheap car insurance companies in Columbia

Auto-Owners provides the best value for car insurance in Columbia with coverage limits of 100/300/100, costing $1,444 annually.

A close second is Progressive, which offers car insurance at $1,891 per year.

Read about the best car insurance companies.

Average car insurance cost in Columbia by coverage limits

The average car insurance rates in Columbia based on coverage types are as follows:

• State minimum coverage: $822 per year (limits are 25/50/25)
• Liability only coverage: $988 per year (limits are 50/100/50)
• Full coverage: $1,973 per year (limits are 100/300/100)
• Non-owners coverage: $401 per year

In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.

To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Columbia

The average car insurance rate for a female driver in Columbia, South Carolina, is $1,962 per year.

While the rate for a male driver is $1,984 per year, which is $22 more than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Columbia

In Columbia, teenagers have the highest car insurance rates, at $6,401 per year or $533 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $3,185 annually for car insurance, which is $3,216 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Columbia have car insurance rates of $1,994 and $2,033 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Columbia

Examining car insurance rate trends in Columbia, South Carolina, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 2% or $44.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Columbia, are lower than the average insurance cost in South Carolina. Shopping around and taking advantage of available discounts, drivers in Columbia can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.