South Carolina High Risk Car Insurance Consumer Help Online.
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ARAIP-PAIP-CAIP-AIP Assigned Risk-High Risk automobile residual insurance markets consists of licensed drivers unable to purchase automobile insurance through the Voluntary Market due to a variety of factors, such as their driving history, accident history or status as a first-time driver. The Assigned Risk or High Risk Automobile Insurance Plans often charges higher rates in South Carolina, and is a last resort for licensed drivers that cannot obtain car insurance coverage elsewhere in the preferred or voluntary automobile insurance marketplace. To combat soaring insurance prices experts recommend educating yourself and then obtain Car Insurance quotes from at least two sources.
How does where I am in South Carolina affect my premium?
Where you live or, more precisely, where you keep your car at night has a bearing on your chances of having an accident or becoming a victim of theft or vandalism. That’s why a vehicle owner in Columbia, SC pays a higher rate than the owner of an identical vehicle in Travelers Rest, SC.
Other factors affecting regional insurance rates include time and efficiency of police response and law enforcement, local road and traffic conditions and the quality of local medical services. Insurers even factor in the litigation rates in a given area, that is, how many lawsuits are filed, go to trial, are settled out of court and for how much.
Why are SC rates different for different cars, even if the cars cost the same?
Vehicles are also grouped into categories according to their chances of being damaged, vandalized or stolen. Insurers generally consider the size and type of vehicle, as well as the value and the cost of repairs which vary greatly, even on vehicles that cost about the same amount. Therefore, it is assumed that a new sport utility vehicle is expected to hold up better in an accident than a sports car or a subcompact or electric hybrid car.
Putting insurance aside for a moment, safety is key when buying an automobile. Your life and everyone who rides with you depends on it! Some cars are considered safer than others because of their performance record in safety tests and real accidents.
That is why you consumers should research insurance coverage before you buy your car. It helps you to understand the actual cost and indicates those vehicles with good safety records. Your insurer will ultimately reward you for putting safety first.
Even “good” South Carolina drivers can find themselves in the position of being dropped by their current carrier. Reasons range from a couple of moving violations, or multiple accidents, or other serious violations that make you a high risk to situations outside your control, such as when insurers in your state are suffering severe business losses. Overall rises in claims or losses can cause insurers to become highly selective in determining whom they can afford to offer to insure.
That is why it is important to note that if you are licensed to drive, by law, you are eligible for insurance. However, your options for new coverage may be limited. Each state has created and regulates a market of last resort for those who cannot otherwise obtain coverage. These groups have various names, depending on the state you live in, such as assigned risk automobile insurance plans or the residual market, or the high risk pool. Your agent will know more about the particulars in your state.
Regardless of the reason you were dropped or cancelled by your insurer, you need to act immediately to get another policy. Under no circumstance should you drive your vehicle without knowing one hundred percent that you have current insurance. Call your local agent to help you find new coverage. If you do find yourself in the assigned risk residual market pool, the price may be higher but it may be your only alternative in maintaining your freedom to drive.
- Personal assigned risk insurance – Personal Auto or Car insurance, HO-3 Coastal homes, coastal homes flood insurance, Mobile Homes, Recreational Vehicles (Boats, Jet Skis, ATVs), Vacant Properties, Inner City Dwellings, Personal Umbrella Policies and many more.
- Commercial assigned risk insurance – General Contractors, Vacant Commercial/Industrial Properties, Habitational, Professional Liability, Liquor Liability, Bars/Restaurants, Commercial Property, Local Trucking, Busing, Intermediate Trucking, Long Haul Trucking, Taxis & Transportation, Roofing-Roofer, Excess Liability, Errors & Omissions, Medical Malpractice and many more.