One of the most common questions people ask us about license reinstatement is, “What is the South Carolina SR22 insurance cost per month?” In short, SR22 is a certificate financial responsibility issued on your behalf by an insurance company licensed to do business in South Carolina. The certificate, or policy, is monitored electronically. The insurance provider files an SR26 to the state DMV if the policy lapses for any reason, and the driver’s license will be suspended once more.
Here is a list of some of the factors that can affect your South Carolina SR22 insurance cost:
- Whether or not you own a vehicle
- The type of vehicle you own
- Whether you need liability or full coverage insurance
- The amount of miles driven in a year
- Your age
- The number of traffic violations accumulated within the past 3 years
- The number of accidents on your driving record
- If you currently carry insurance coverage
- The limits of liability
- The amount of coverage you want
- How long you’ve had insurance coverage without a lapse for the past year or more
- Whether you own a home
- Your credit history
These factors play a major role in South Carolina insurance cost, regardless of the insurance company. The cost can be anywhere between $60 to several hundred dollars per month for a non owner SR22 insurance policy, and exponentially higher if you own a vehicle and want full coverage insurance. So let’s explore each factor in detail:
- For example, when you accumulate too many points on your driving record, your driver’s license will be suspended as a result, and you will be required to carry an SR22 in order to reinstate your driver’s license for a period of 3 years.
- The type or severity of violations also will impact the rate – such as getting a speeding ticket vs getting a DUI, DWI or driving after revocation. Being cited for the same offense multiple times, like having several speeding tickets or driving after suspension tickets, will also have a greater negative impact on your SR22 insurance rate. Another big factor is if the driver has been involved in several accidents in a short period of time.
- The next factor is your age. A teenager will pay a much higher premium, and will have an exponential effect on the insurance rate because of inexperience and higher risk.
- South Carolina SR22 insurance cost will also will significantly increase you own a car that needs to be insured. The vehicle make and model, price and age will impact the rate, and whether you want full coverage or just liability insurance. You can save on insurance premium by having insurance coverage with any lapse of coverage of coverage.
Following is a list of South Carolina state minimum coverage requirements:
Bodily Injury & Property Damage of 25/50/25
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $25,000 Property Damage
Uninsured/Underinsured Motorist: 25/50
- $25,000 per person
- $50,000 per accident
Uninsured Motorist Property Damage: $25,000
Under-insured Motorist Bodily Injury: Optional
Under-insured Motorist Property Damage: Optional
Medical Payments: Optional
South Carolina DMV
More Information can be found at the South Carolina DMV Website.
Another common question we’re asked is, “I don’t own a car, but need an SR22 insurance filing.” UltraCar Insurance can help you obtain South Carolina non owners SR22 insurance if you do not own a vehicle. We can file your SR22 owner or non owner insurance certificate in under 10 minutes, so your license can be reinstated the same day. Call today for quick South Carolina SR22 insurance quotes!