What’s Auto Insurance coverage?
All types of insurance coverage present safety to shoppers by masking sure dangers and promising to pay for monetary losses attributable to these dangers.
Auto insurance coverage is likely one of the most used kinds of private insurance coverage. South Carolina legislation requires that you just buy legal responsibility and uninsured motorist protection to drive legally within the state. Auto insurance coverage is split into two primary coverages: legal responsibility and bodily injury.
Auto legal responsibility insurance coverage insurance policies include three main components below South Carolina Tort legislation: legal responsibility insurance coverage for bodily harm; legal responsibility insurance coverage for property injury; and uninsured / underinsured motorists protection.
Bodily harm legal responsibility insurance coverage protects you in opposition to the claims of different people who find themselves injured in an accident for which you have been at fault. South Carolina requires you to hold a minimal of $25,000 per particular person for bodily harm and $50,000 for all individuals injured in a single accident. Claims for bodily harm could embrace medical bills, misplaced wages, and ache and struggling.
Property injury legal responsibility insurance coverage pays for any injury you trigger to the property of others. This not solely contains damages to different automobiles but in addition different property, resembling buildings, partitions, fences, and gear. The minimal restrict in South Carolina is $25,000 for all property injury in a single accident.
Uninsured motorists protection protects the policyholder instantly. This protection pays in case you are injured and/or your property is broken by a hit-and-run driver or an uninsured driver. South Carolina legislation requires you to hold uninsured motorists protection equal to the minimal quantities of legal responsibility protection (25/50/25). There’s sometimes a $200 deductible.
Underinsured motorists protection is much like uninsured motorist protection, however pays on your accidents or property injury if the at-fault driver doesn’t have sufficient insurance coverage to cowl your damages or medical payments. Auto insurers are required to give you underinsured motorists protection in South Carolina, however you aren’t required to buy it.
Bodily injury is auto insurance coverage protection that insures in opposition to injury to the insured’s personal automobile. The most typical sorts are collision protection and complete protection. These two coverages are optionally available to buy.
Collision protection pays for bodily injury to your automobile as the results of your auto colliding with an object, resembling a tree or one other automobile. Within the case of an accident involving an older automobile or any automobile sustaining in depth injury, the price of repairing the automobile can shortly exceed a threshold of the automobile’s precise money worth. On this case, insurers will “complete” the automobile and pay you the precise money worth of the automobile, minus the deductible, fairly than repairing it. As indicated by South Carolina Division of Motor Autos Regulation 56-19-480(G), this threshold is 75% of the automobile’s precise money worth (ACV).
Complete protection pays for injury to your auto from most different causes, together with hearth, vandalism, flooding, theft, falling objects, and collision with animals. Complete protection can even cowl damaged glass, resembling injury to a windshield. In South Carolina, auto insurers can not impose a deductible for security glass repairs or replacements.
Whereas not required by legislation, complete and collision protection could also be required by your lender.
Contact Our Workplace of Shopper Companies with Questions
The SCDOI’s Workplace of Shopper Companies might help reply your questions on auto or different kinds of insurance coverage.
8:00 a.m. – 6:00 p.m. (Mon. – Thurs.) and eight:00 a.m. – 5:00 p.m. (Fri.)
File an Insurance coverage Grievance
For those who’re having a selected downside with an insurance coverage firm, dealer, agent, or adjuster, file a grievance with our Workplace of Shopper Companies at doi.sc.gov/grievance.
Report Suspected Insurance coverage Fraud to the SC Lawyer Basic’s Workplace
For those who suspect somebody has dedicated any sort of insurance coverage fraud, name the South Carolina Insurance coverage Fraud Hotline toll-free at 1-888-95-FRAUD or full the Insurance coverage Fraud Grievance Kind on-line. You don’t need to reveal your id. For extra details about insurance coverage fraud, go to scag.gov/insurance-fraud.