Comprising of Spartanburg county and Greenville county, Greer city falls in the state of South Carolina. The estimated population of this city is around 30,000 residents. Greer is a site for manufacturing BMW in North America. The BMW plant has employed around 9,000 people. Several suppliers are attracted to the city that provides job opportunities for around 12,000 people. Since it is a small city, getting car insurance in Greer SC from local agencies may not be a good idea as the competition for car insurance in Greer SC is low so the agencies may charge higher rates. You can check the best car insurance companies online to compare rates with the local ones you get.
All drivers in the state should carry at least a minimum required auto insurance in Greer South Carolina. The minimum coverage required in Greer, South Carolina is as below:
- Liability coverage – bodily injury for each person- $25,000
- Liability coverage – bodily injury in an accident – $50,000
- Property damage – $25,000 per accident
- Uninsured motorist insurance coverage – $25,000 for one person
- Uninsured motorist insurance coverage – $50,000 for per accident
- Uninsured motorist insurance coverage – $25,000 for per accident property damage
It is crucial to have a minimum amount of insurance coverage. However, it is recommended to have insured an amount more than the minimum limit required by law. Depending on the nature of the accident, it may lead to huge expenses. Expenses will include your medical or hospital bills, repair for your car, and if another passenger is hurt, then their medical expenses, and so on. The expense will further depend on the severity of the accident. The financial burden could be huge if you only have minimum limited coverage, and it could be worse if you’re not even insured. Furthermore, if you’re at fault, it could lead to putting your assets at risk, which includes your wages, savings, and even your home.
The liability coverage will take care of expenses in an accident; however, it won’t cover everything like damages to your car due to bad weather, theft, and fire.
Types of Coverage for Car Insurance in Greer SC
Besides, the liability coverage you should have additional coverage that will cover for other expenses in an accident, such as:
- Collision coverage – This coverage will take care of expenses if your car is damaged due to a collision.
- Comprehensive Coverage – This coverage will take care of expenses of your damaged car from fire, theft, bad weather, or other damages to your car. The exclusion of this coverage is if your car is damaged due to a collision.
- Medical expenses – This coverage will take care of your medical and hospital bills.
- Protection for personal injury – This coverage is very similar to medical expenses. It will cover your medical expenses; furthermore, it will also take care of other expenses due to the accident like childcare and loss of wages.
- Uninsured motorist insurance coverage – Uninsured motorist insurance coverage is included in the minimum required insurance coverage. The uninsured and underinsured motorist insurance coverage is generally bundled together. It is quite essential to add this coverage in South Carolina, where around 10% of drivers are uninsured or underinsured drivers. It is recommended to have this coverage added to your insurance because an uninsured or underinsured driver will not have enough money or assets to take care of the expenses. Nevertheless, the uninsured or underinsured motorist insurance coverage will take care of the expenses from the accident.
Therefore, it is crucial to have good coverage, and enough money insured. Your auto insurance company can give you guidance on how much money to insure and the required coverage that will be beneficial for you.
Factors that Determine Auto Insurance in Greer South Carolina
It is good to understand what components are considered for your auto insurance. The components like the driver’s age, driving history, gender, weather conditions, road conditions, population, location, and credit rating, impact a driver’s auto insurance premium. The reason auto insurance companies consider these factors are to understand how much they will end up spending on a driver. If a driver files claim, it’s an expense for the insurance provider. Therefore, a driver who is likely to file a claim will have to pay a higher premium compared to a driver who will hardly file a claim.
Teenagers pay a higher premium since they are considered inexperienced drivers and could be in an accident any time which will lead to filing a claim. Once a teenager turns 20, the premium amount reduces significantly. The premium amount continues to decline as the age group increases.
Areas with auto theft and a huge number of accidents also lead to expensive premium rates. Living in a peaceful locality with less population, minimum crime rate, and less accident will give you an economical premium rate. Understanding what leads to a good premium amount is important and equally important is knowing from which company to buy insurance.
There are quite a few companies that provide auto insurance. It is crucial to buy insurance from companies that can be trusted. Check NAIC ratings of insurance companies to make a sound decision. Compare insurance quotes between different providers and once you’re satisfied with your research, then buy insurance from the insurance provider.