Cheap Gap Insurance in South Carolina (10 Most Affordable Companies for 2024)
Cheap gap insurance in South Carolina is best with State Farm, Safeco, and The Hartford. Staer Farm offers rates from $11/month, but senior drivers might find cheaper gap insurance rates with The Hartford. This list of top providers ensures reliable and affordable South Carolina gap insurance.
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Jimmy McMillan
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Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent insurance brokerage. His company specializes in insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast Modern Li...
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UPDATED: Oct 15, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 15, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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17,759 reviewsCompany Facts
Gap Insurance in South Carolina
A.M. Best Rating
Complaint Level
Pros & Cons
17,759 reviews
1,171 reviewsCompany Facts
Gap Insurance in South Carolina
A.M. Best Rating
Complaint Level
Pros & Cons
1,171 reviews
765 reviewsCompany Facts
Gap Insurance in South Carolina
A.M. Best Rating
Complaint Level
Pros & Cons
765 reviews
The leading providers of cheap gap insurance in South Carolina are State Farm, Safeco, and The Hartford. Find out where to compare auto insurance rates with options starting as low as $11 per month.
State Farm stands out as the top pick overall, combining competitive rates with customizable coverage options. Choosing any of these top companies ensures you get reliable and cost-effective gap insurance in South Carolina.
Our Top 10 Company Picks: Cheap Gap Insurance in South Carolina
Company Rank Monthly Rates A.M. Best Best For Jump to Pros/Cons
#1 $11 B Trusted Brand State Farm
#2 $12 A Customizable Coverage Safeco
#3 $15 A+ Senior Drivers The Hartford
#4 $17 A+ Online Tools Progressive
#5 $12 A+ Customer Service Allstate
#6 $11 A Policy Discounts American Family
#7 $14 A Tailored Policies Farmers
#8 $14 A++ Industry Experience Travelers
#9 $13 A+ Comprehensive Coverage Nationwide
#10 $16 A Flexible Options Liberty Mutual
See which South Carolina insurance companies have the cheapest gap coverage near you by entering your ZIP code into our free comparison tool above.
- South Carolina gap insurance protects drivers from defaulting on an auto loan
- State Farm is the top pick for cheap gap insurance in South Carolina
- The Hartford is the cheapest for senior drivers in South Carolina
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#1 – State Farm: Top Overall Pick
Pros
- Reliable Gap Insurance: State Farm is known for its solid reputation and reliability, offering trustworthy gap insurance coverage in South Carolina.
- Cheap Gap Insurance Rates: State Farm gap insurance is the cheapest in South Carolina at $11/month.
- Extensive Network: With a wide network of agents in South Carolina, State Farm provides easy access to personalized gap insurance assistance. Find additional details in our State Farm review.
Cons
- Complex Policy Details: Understanding the full extent of gap insurance coverage in South Carolina can be complex, and may require additional explanation from agents.
- Low Financial Ratings: Despite being the most popular company in the U.S., its low financial score makes it risky for gap coverage in South Carolina.
#2 – Safeco: Cheapest Customizable Coverage
Pros
- Flexible Gap Insurance: Safeco provides highly customizable gap insurance plans, allowing South Carolinians to adjust coverage to their individual needs.
- Competitive Pricing: Safeco gap insurance rates in South Carolina are often competitive, making it a cost-effective choice for many.
- Good Customer Support: Safeco customer service is known for assisting with gap insurance inquiries and adjustments effectively in South Carolina. Review Safeco for a complete overview.
Cons
- Limited Local Agents: Safeco may have fewer local agents in South Carolina, potentially making it less accessible for face-to-face service.
- Coverage Options Complexity: The range of customization options for gap insurance might be overwhelming for some customers in South Carolina.
#3 – The Hartford: Cheapest for Seniors
Pros
- Senior-Friendly Gap Insurance: The Hartford offers gap insurance tailored to the needs of seniors, providing valuable coverage options for this demographic in South Carolina.
- Comprehensive Coverage: Hartford gap insurance includes comprehensive features that are beneficial for seniors in South Carolina.
- Good Reputation: Known for its quality service, The Hartford provides reliable gap insurance options in South Carolina. Read more in our review of The Hartford.
Cons
- Potentially Higher Premiums: Gap insurance from Hartford may come with higher premiums for seniors in South Carolina compared to some other providers.
- Limited Discounts: The Hartford might offer fewer discount options for gap insurance in South Carolina compared to competitors.
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#4 – Progressive: Best Online Tools
Pros
- Cost-Effective Gap Insurance: Progressive offers some of the most affordable gap insurance rates in South Carolina, making it a budget-friendly choice.
- Easy Online Access: Progressive provides convenient online tools to manage and purchase gap insurance in South Carolina. Discover more in our Progressive review.
- Numerous Discounts: Progressive offers various discounts that can reduce the cost of gap insurance for South Carolinians.
Cons
- Basic Coverage Options: Progressive gap insurance may offer more basic coverage compared to other providers in South Carolina.
- Customer Service Issues: Some customers report less satisfactory customer service experiences with Progressive regarding cheap gap insurance in South Carolina.
#5 – Allstate: Best Customer Service
Pros
- Excellent Customer Service: Allstate is renowned for its top-notch customer service, assisting South Carolinians with their gap insurance needs effectively.
- Multiple Coverage Options: Allstate offers various gap insurance options, allowing South Carolinians to find a plan that suits their needs. See our Allstate review for further information.
- Usage-Based Savings: Safe and low-mileage drivers can save more money on Allstate gap insurance by signing up for Drivewise or Milewise telematics.
Cons
- Higher Premiums: Allstate gap insurance premiums in South Carolina may be higher compared to some competitors.
- Complex Policy Details: The range of coverage options might be complex, requiring a thorough review and understanding of South Carolina gap insurance.
#6 – American Family: Cheapest With Policy Discounts
Pros
- Discounts on Gap Insurance: American Family offers several discounts on gap insurance, which can significantly lower costs for South Carolinians.
- Comprehensive Coverage Options: AmFam provides comprehensive gap insurance coverage with various policy options tailored to South Carolinians.
- Good Customer Satisfaction: Known for customer satisfaction, American Family ensures quality service for gap insurance in South Carolina. Get details in our American Family review.
Cons
- Availability Issues: American Family may have limited availability in some areas of South Carolina, affecting access to gap insurance.
- Higher Initial Costs: Initial costs for AmFam gap insurance might be higher before discounts are applied.
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#7 – Farmers: Cheapest Tailored Policies
Pros
- Tailored Gap Insurance: Farmers offers tailored gap insurance policies, providing customized solutions for South Carolinians.
- Wide Range of Options: Farmers’ broad range of coverage options meets the diverse needs of drivers who need South Carolina gap insurance.
- Good Reputation: Farmers has a strong reputation for offering reliable gap insurance solutions in South Carolina. Check out our Farmers review for more information.
Cons
- Complex Policy Details: The variety of tailored options can make understanding gap insurance policies more complex for South Carolinians.
- Potentially Higher Rates: Customized gap insurance policies may come with higher rates compared to more standardized options in South Carolina.
#8 – Travelers: Best for Industry Experience
Pros
- Strong Financial Ratings: Travelers is one of the oldest and most reliable gap insurance companies in South Carolina. Find more ratings in our Travelers Insurance review.
- Comprehensive Coverage: Offers comprehensive gap insurance coverage that meets various needs in South Carolina.
- New Car Discounts: South Carolinians buying gap insurance for a new car can earn a discount for vehicles less than three years old.
Cons
- Limited Local Presence: Travelers may have fewer local offices or agents in South Carolina, impacting direct access to gap insurance services.
- Discount Availability: Fewer discount options might be available for gap insurance compared to other providers in South Carolina.
#9 – Nationwide: Cheapest Comprehensive Coverage
Pros
- Extensive Gap Insurance Coverage: Nationwide provides comprehensive gap insurance coverage in South Carolina with a wide range of options.
- Good Customer Support: Offers strong customer support for gap insurance inquiries and claims in South Carolina. Discover our Nationwide review for a full list.
- Multi-Vehicle Discounts: If you insure more than one vehicle with South Carolina gap coverage, Nationwide will knock 20% off your rates.
Cons
- Higher Premiums: Comprehensive coverage may come with higher premiums, which could be a concern for some gap insurance in South Carolina.
- Complex Policy Terms: The terms of Nationwide gap insurance policies might be complex and require careful review in South Carolina.
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#10 – Liberty Mutual: Best for Flexible Options
Pros
- Flexible Gap Insurance: Liberty Mutual offers flexible gap insurance options, allowing South Carolinians to adjust coverage as needed.
- Multiple Discounts: Offers various discounts that can lower the cost of gap insurance in South Carolina. Learn more in our Liberty Mutual review.
- New Car Replacement: South Carolinians can add this coverage to gap insurance, and Liberty Mutual will replace your totaled car with a new similar make and model.
Cons
- Complex Policy Options: The flexibility in options might make choosing the right gap insurance policy more complicated for South Carolinians.
- Customer Service Variability: Customer service experiences with Liberty Mutual may vary, affecting the overall satisfaction with gap insurance in South Carolina.
South Carolina Gap Insurance Monthly Rates
If you’re looking for affordable gap insurance coverage in South Carolina, comparing rates from various providers can help you save money. Below is a list of monthly rates for gap insurance from top companies in the state, so you can easily find the best option for your needs.
South Carolina Gap Insurance Rates by Provider
Insurance Company Monthly Rates
$12
$11
$14
$16
$13
$17
$12
$11
$15
$14
By reviewing these monthly rates, you can make an informed decision and select the gap insurance provider that fits your budget and coverage requirements in South Carolina. Always consider both price and service when choosing the best option for you.
Read More: Best South Carolina Auto Insurance Companies
Accidents and claims can vary significantly depending on the city. Below is a breakdown of the number of accidents and claims per year across major cities in South Carolina, offering insights into areas with higher incidents.
South Carolina Accidents & Claims per Year by City
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Columbia | 5,500 | 3,800 |
| Charleston | 4,200 | 2,900 |
| North Charleston | 3,800 | 2,600 |
| Greenville | 3,400 | 2,300 |
| Rock Hill | 2,100 | 1,400 |
Knowing the frequency of accidents and claims in different cities helps drivers anticipate insurance costs and choose the right coverage. Below is a breakdown of the top five auto insurance claim types in South Carolina, along with their frequency and average cost, to provide insight into potential risks and expenses.
5 Most Common Auto Insurance Claims in South Carolina
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Collision | 35% | $3,600 |
| Comprehensive | 22% | $2,400 |
| Property Damage | 18% | $4,200 |
| Bodily Injury Liability | 15% | $16,000 |
| Personal Injury Protection (PIP) | 10% | $9,000 |
By knowing the common types of claims and their costs, South Carolina drivers can make informed decisions when selecting their insurance coverage, ensuring they’re adequately protected from unforeseen expenses.
How Gap Insurance Works in South Carolina
If your car gets totaled or stolen, regular car insurance only pays what the car is worth at that time (which could be less than what you still owe on your loan or lease). This is where guaranteed auto protection (gap) insurance steps in. It covers the “gap” between what the car is worth and how much you owe.
Many drivers looking for affordable gap insurance in South Carolina found practical ways to minimize their expenses while ensuring adequate coverage:
- Case Study #1 – Savings on Gap Insurance Through Provider Comparison: Sarah, a recent graduate, needed affordable gap insurance. By using a comparison tool, she found that State Farm had the best rates in South Carolina, saving her 20% compared to other quotes.
- Case Study #2 – Success With Policy Bundling Discounts: Tom, a senior in South Carolina, cut his gap insurance costs by bundling it with his auto and home policies with The Hartford. He earned additional discounts with his AARP membership.
- Case Study #3 – Savings From Safe Driving Discounts: Jessica, a careful driver, lowered her South Carolina gap insurance costs by 15% with American Family discounts for her clean driving record, showing how a good driving history can reduce premiums.
South Carolina auto insurance discounts report card, where we evaluate popular discounts offered by major providers in the state. Use this guide to see how different discounts stack up in terms of savings and participating insurers, helping you make informed decisions to save on your auto insurance.
South Carolina Report Card: Auto Insurance Discounts
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Good Driver | A | 25% | State Farm, Geico, Allstate, Progressive |
| Multi-Policy | A- | 20% | Liberty Mutual, Nationwide, USAA, Farmers |
| Defensive Driving | B+ | 15% | The Hartford, Geico, Travelers |
| Low Mileage | B | 10% | Nationwide, Progressive, Allstate |
| Good Student | A | 20% | State Farm, Allstate, Liberty Mutual |
By taking advantage of these discounts, you can significantly lower your auto insurance costs in South Carolina. Compare options from different providers to ensure you’re getting the best deal possible on your policy.
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Smart Ways to Lower Gap Insurance Costs in South Carolina
The South Carolina report card on auto insurance premiums offers a comprehensive overview of how the state measures up in key areas related to insurance costs. By examining categories such as average premiums, rates for high-risk drivers, and discount availability, this report provides valuable insights for drivers seeking affordable coverage.
South Carolina Report Card: Auto Insurance Premiums
| Category | Grade | Explanation |
|---|---|---|
| Average Premiums | B | Slightly above the national average moderate for most drivers |
| Premiums for High-Risk Drivers | C+ | Higher than average for drivers with accidents or DUIs |
| Discount Availability | A- | Strong options for safe drivers, multi-policy holders, and students |
| Regional Variation | B- | Significant variation between urban and rural areas more expensive in cities |
| Customer Satisfaction | B+ | Generally positive but room for improvement in claims handling |
High-risk drivers and those in urban areas may face higher costs, but discounts and positive customer satisfaction offer savings opportunities. Drivers can save by comparing policies, bundling, or taking advantage of safe driving rewards.
Explore auto insurance discounts from top providers for gap insurance in South Carolina. Our table highlights discounts available from leading companies, including multi-policy, safe driver, and good student discounts.
Auto Insurance Discounts From the Top Providers for Gap in South Carolina
| Insurance Company | Available Discounts |
|---|---|
| Multi-policy discount, Safe driver discount, Anti-theft discount, Good student discount |
| Multi-vehicle discount, Early bird discount, Safe driver discount, Loyalty discount |
| Multi-policy discount, Good student discount, Safe driver discount, Alternative fuel discount |
| Multi-policy discount, Homeowner discount, Military discount, New car discount |
| Multi-policy discount, Accident-free discount, Defensive driving discount, Good student discount |
| Multi-policy discount, Continuous insurance discount, Snapshot program discount, Good student discount |
| Multi-policy discount, Telematics discount, Homeowner discount, RightTrack discount |
| Multi-policy discount, Safe driver discount, Good student discount, Defensive driving discount |
| Multi-policy discount, AARP member discount, Defensive driving discount, Vehicle safety discount |
| Multi-policy discount, Safe driver discount, Homeowner discount, Early quote discount |
Compare these to other auto insurance discounts to ask for to find the best gap insurance savings for your needs. By staying proactive and informed about the rewards and discounts available to you, you can maximize your savings.
To secure the best rate, compare quotes from multiple providers, utilize available discounts, and consider adjusting your auto insurance deductible. Regularly reviewing your coverage can also help you avoid over-insurance and maintain essential protection.
Best Budget-Friendly Gap Insurance Companies in South Carolina
The most affordable gap insurance options come from State Farm, Safeco, and The Hartford, with rates starting at $11 per month.
State Farm offers the best overall value for gap insurance in South Carolina with its competitive rates and customizable coverage options.Justin Wright Licensed Insurance Agent
State Farm is noted for its customizable coverage and cheap gap insurance in South Carolina, while Safeco offers extensive customization options. The Hartford offers competitive gap insurance rates to seniors, so we recommend comparing multiple companies to find the right fit for you.
Find your cheapest gap insurance quotes by entering your ZIP code below into our free comparison tool.
Frequently Asked Questions
Does South Carolina require gap insurance?
No, gap insurance is not a mandatory requirement in South Carolina. However, it is recommended for those who owe more on their vehicle than its current market value or have a loan with a high loan-to-value ratio.
What is the average cost of gap insurance in South Carolina?
The best gap insurance in South Carolina typically ranges from $11 to $17 per month, depending on the provider and coverage options. Rates can vary based on the insurer, your vehicle, and your driving profile.
How does gap insurance work in South Carolina?
In South Carolina, gap insurance covers the difference between the car’s actual cash value (as determined by your primary insurance) and the amount you owe on your car loan or lease if your vehicle is totaled or stolen. It helps protect you from financial loss in such scenarios.
What is the maximum amount gap insurance will pay in South Carolina?
Gap insurance typically covers the difference between the amount you owe on your car loan or lease and the actual cash value (ACV) of your vehicle at the time of a total loss. The maximum payout is generally the remaining balance on your loan or lease after your primary insurance has covered the vehicle’s value.
Can I purchase gap insurance separately from my South Carolina auto insurance company?
Yes, you can purchase gap insurance separately from your auto insurance policy by buying it through the dealership where you leased or bought your vehicle. Many insurance companies also offer it as an add-on, while others provide it through third-party providers. Enter your ZIP code to compare your options and find the best rate and coverage.
What should I consider when choosing gap insurance in South Carolina?
When choosing gap insurance in South Carolina, consider factors such as coverage limits, cost, provider reputation, and any additional benefits or exclusions. Compare quotes from multiple insurers and review policy details to find one that fits your needs.
Are there any discounts for gap insurance in South Carolina?
Yes, many insurers offer car insurance discounts for gap insurance in South Carolina. Discounts may be available for bundling policies, maintaining a clean driving record, or having safety features in your vehicle. It’s a good idea to ask your provider about available discounts.
How often should I review my gap insurance coverage in South Carolina?
It’s a good idea to review your gap insurance coverage annually or whenever you make significant changes to your vehicle or loan terms. This ensures that your coverage remains adequate and that you’re not paying for more than you need.
Is gap insurance available for leased vehicles in South Carolina?
Yes, the best auto insurance for leased vehicles includes gap coverage in South Carolina. In fact, it’s often recommended for leased vehicles because lease agreements typically have higher gaps between the vehicle’s value and the lease balance.
What is the minimum car insurance required in South Carolina?
South Carolina minimum auto insurance requirements are 25/50/25 in both liability coverage and uninsured motorist protection.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Jimmy McMillan
Licensed Insurance Agent
Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent insurance brokerage. His company specializes in insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast Modern Li...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.