By:  Ishan Mukhopadhyay Nov. 27, 2018

A recent Raltin study on car insurance prices in Newberry, South Carolina, reveals that drivers can save between $526 and $1,658 depending on their insurance provider. This study calculates the potential savings on the basis of the difference between the cheapest and median prices. The largest difference of $1,658 is observed for single male drivers under the age of 25 years, whereas the least difference of $526 is reported for married female drivers aged between 25 and 65 years.

Car insurance premiums are determined by the car model, coverage limit, deductible value, and driver background. An insurance holder in the city who participated in a Raltin survey states “I have the minimum level for coverage required by my state.” The limits and deductible values differ by insurance agreement and preferences for the same depend on various factors.

The following values are considered as reference points for the study: a driving record of no violation, one fault accident, or one speeding ticket; credit ratings ranging between average and good; a bodily injury per accident limit of $10,000, $30,000, or $$60,000; a bodily injury per person limit of $10,000, $30,000, or $50,000; and a property damage limit of $10,000, $25,000, or $50,000. This research focuses on vehicles exclusively used to travel to and from work.

The Raltin analysis also shows that for the driver cohort with the highest potential savings, United Services Automobile Association offers the cheapest premium at $897. General Automobile Insurance Company offers the median rate at $2,555. The second-highest potential saving of $1,418 is reported for married male drivers under the age of 25 years. For this category as well, United offers the cheapest rate at $589. Owners Insurance offers the median rate at $2,007.

Married female drivers aged between 25 and 65 years report the lowest potential savings. For this cohort, United Services Automobile Association offers the cheapest price of $245 and Travelers Property Casualty Insurance quotes the median price of $771.

Further, among the eight driver cohorts analyzed, United Services Automobile Association offers the cheapest rate to seven and LM Insurance Corporation offers the most expensive premium to four driver segments.

The following chart compares car insurance prices across key companies in Newberry, SC:

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The table below lists the names of companies offering the cheapest and most expensive premiums for each driver cohort as well as the median prices and potential savings.

CohortCheapest Car Insurance Companies in Newberry, SCSecond Cheapest Car Insurance Companies in Newberry, SCCar Insurance Companies Offering Median Premiums in Newberry, SCSecond Most Expensive Car Insurance Companies in Newberry, SCMost Expensive Car Insurance Companies in Newberry, SCDifference between Cheapest and Median PricesDifference in Price between Most Expensive and Median Prices
Single male drivers under the age of 25 yearsUnited Services Automobile Association ($897)USAA Casualty Insurance Company ($1,011)General Automobile Insurance Company Inc. ($2,555)LM General Insurance Company ($6,336)Esurance Insurance Company ($8,236)$1,658$5,681
Married male drivers under the age of 25 yearsUnited Services Automobile Association ($589)USAA Casualty Insurance Company ($662)Owners Insurance Company ($2,007)Progressive Northern Insurance Company ($6,041)Unitrin Auto And Home Insurance Company ($7,214)$1,418$5,207
Single female drivers under the age of 25 yearsMetropolitan Direct Property and Casualty Insurance Company ($768)United Services Automobile Association ($787)Garrison Property and Casualty Insurance Company ($2,102)Unitrin Auto And Home Insurance Company ($6,398)LM Insurance Corporation ($7,020)$1,334$4,918
Married female drivers under the age of 25 yearsUnited Services Automobile Association ($523)USAA Casualty Insurance Company ($700)GEICO Indemnity Company ($1,715)Amica Mutual Insurance Company ($4,342)LM Insurance Corporation ($6,670)$1,192$4,955
Single male drivers aged between 25 and 65 yearsUnited Services Automobile Association ($272)Government Employees Insurance Company ($352)Auto-Owners Insurance Company ($841)Owners Insurance Company ($1,720)Esurance Insurance Company ($2,734)$569$1,893
Single female drivers aged between 25 and 65 yearsUnited Services Automobile Association ($271)Auto-Owners Insurance Company ($347)Unitrin Auto And Home Insurance Company ($836)First National Insurance Company of America ($1,852)Esurance Insurance Company ($2,774)$565$1,938
Married male drivers aged between 25 and 65 yearsUnited Services Automobile Association ($240)Government Employees Insurance Company ($325)Auto-Owners Insurance Company ($792)State Farm Fire and Casualty Company ($1,799)LM Insurance Corporation ($2,519)$552$1,727
Married female drivers aged between 25 and 65 yearsUnited Services Automobile Association ($245)Government Employees Insurance Company ($259)Travelers Property Casualty Insurance Company ($771)Esurance Insurance Company ($2,358)LM Insurance Corporation ($2,518)$526$1,747


ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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