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South Carolina Car Insurance Requirements -Minimum auto insurance coverage

auto insurance Greenville - The Morgano Agency

In South Carolina, auto insurance is required to have liability insurance and uninsured motorist coverage. This coverage will protect you and other drivers from the costs of medical bills and car repairs if you are involved in an accident. Bodily Injury (BI) coverage pays for the other driver's medical bills, up to $25,000 per person or $50,000 total, if you cause an accident. In addition, your policy will also cover legal expenses if the other driver sues you. Property Damage (PD) coverage pays for the other driver's car repair bills if you cause an accident, up to $25,000. Uninsured Motorist Bodily Injury (UMBI) coverage pays for your own medical bills if you're hit by a driver whose automobile is either uninsured or doesn't have enough coverage to pay for your expenses. This coverage matches your bodily injury limits — $25,000 per person and $50,000 per accident — but carries a $200 deductible.

 

What does having this minimum car insurance in South Carolina mean?

 
The minimum car insurance coverage requirement when it comes to car insurance refers to the standard of protection that your policy must meet. Typically, this only covers third-party injury and property damage costs. If you want to ensure protection for yourself and your car, you may need to buy additional coverage.
 
In South Carolina, the minimum liability coverage is 25/50/25. This means that your policy must have $25,000 per person for bodily injury, a maximum of $50,000 per accident, and $25,000 for property damage.
 
Bodily injury liability coverage protects you from claims made by third parties who are injured in an accident caused by you. At the same time, property damage coverage safeguards you from the expenses of damage you cause to other people's property from a crash.
 
South Carolina requires insurance companies to offer Underinsured Motorists (UM) Coverage, but it is not mandatory to purchase it. If you are in an accident with a driver who has insufficient coverage to cover your medical costs and property damage, UM Coverage can provide protection for your injuries and damages.
 

Driving without auto insurance by registering as an uninsured motorist in South Carolina to meet the minimum car insurance requirements

 
You can pay a nonrefundable annual fee of $550 to apply for an "uninsured motorist registration" in South Carolina. This registration allows you to drive without having to buy car insurance, meaning you would take on the financial burden of any medical bills and property damage costs in the event of a car accident. However, if you get a ticket or are involved in an accident, your registration will be canceled and you must obtain a liability policy. To be eligible for an uninsured motorist registration, you (and any other drivers in your household) must have had valid driver's licenses for at least three years, must not have an SR-22 on file at the time of application, and must not have had any accidents or traffic violations within the past three years.
 

Alternative Proof of Financial Responsibility is required in South Carolina

 
Proof of financial responsibility may be provided to the state in the form of an auto insurance policy, a surety bond, or by registering as an uninsured driver. An SR-22 form, filed by an insurer on the insured's behalf, serves as evidence that the policy meets the state's requirements. Alternatively, if an individual does not wish to purchase an auto insurance policy or register as an uninsured driver, they may opt to purchase a surety bond that guarantees they will cover any liability expenses that may arise from being at fault in a car accident. Upon purchase of this bond, a copy of it should be filed with the DMV in order to receive a certificate of insurance.
 
 
In South Carolina, you may be required to submit a real estate bond to cover potential liability expenses if you cause a car accident. To do so, two local property owners must sign the bond and own properties with a combined value of at least $150,000 — any of which may be taken in case of a judgment. After getting approval from the appropriate county judge, the bond must then be filed with the DMV to receive a certificate of proof. Alternatively, you may submit a cash/security deposit of $35,000 as proof of your ability to pay for potential liability expenses, as long as you have no unsatisfied judgments against you.
 

What are the penalties for driving without insurance coverage in South Carolina?

 
Driving without car insurance in South Carolina is a punishable offense. You may face jail time, fines, and the revocation of your license and registration if you do not have proof of insurance when asked by a law enforcement officer. To avoid such penalties, it is recommended to purchase car insurance or pay an annual fee for uninsured motorist coverage. Keep proof of coverage with you at all times, either electronically or on paper. If you're unable to provide proof, you may be asked to submit an SR-22 form, which could potentially raise your car insurance rates.
 

Auto Insurance Greenville - The Morgano Agency

If you live in the Greenville, SC area and are in need of auto insurance contact us at The Morgano Agency for a free quote or to have us answer any questions you may have about car insurance in Greenville South Carolina.  We will shop around to find the best auto insurance coverage at the best rates for your needs.