Proper Coverage Drivers in South Carolina

 
Approximately one in 10 drivers across South Carolina may be driving uninsured, according to a new study from the Insurance Research Council (IRC).  In the IRC study, South Carolina now has 9 percent uninsured motorists and ranks 38 in the nation. The estimated percentage of uninsured motorists nationally is 13.8 percent. The good news is that the latest numbers are huge improvements from previous years. In the last study conducted by the IRC in 1997, South Carolina had 28 percent uninsured motorists when the national average was 14 percent.

South Carolina law requires motorists to have proof of financial responsibility; i.e Auto Insurance. Failure to verify insurance coverage can result in the suspension of your driver?s license and the vehicle plate/registration. If suspended, the owner may be required to pay fees of up to $400.  a new law was passed in January of 2007, raising the minimum amounts of liability insurance coverage and requiring drivers to carry liability coverage of no less than $25,000 of bodily injury per person, $50,000 of bodily injury per accident and $25,000 of property damage coverage.  Still, many SC vehicle owners are driving around uninsured or underinsured ? meaning they carry the very minimum coverage. 

With the recent troubled economy, the IRC warns that there may be a sharp rise in the uninsured motorist rate. This is important news for motorists who act responsible by carrying insurance. Why? Because this means that it is important for your policy to include not only uninsured motorist coverage, but also need underinsured motorist coverage.

Here are some facts for vehicle insurance that every driver should know.   At any time you do not show proof of insurance to the DMV, you may have to pay a $200 reinstatement fee, plus $5 per day for each day your vehicle was uninsured, up to $200 for a total of up to $400.  If you receive a letter from the DMV asking for proof of insurance, notify your insurance company as soon as possible so you can comply with the request within 20 business days.  If you are found guilty of driving uninsured, you driver?s license and registration privileges will be suspended until the DMV receives a $550 reinstatement fee.