By: Madhu Bolagani Aug. 06, 2018

A recent survey of car insurance policies in Charleston, South Carolina, shows that the cheapest premium of $255 is offered by United Services Automobile Association to 25- to 65-year-old married men. The study shows that premiums are influenced by drivers’ backgrounds and driving records. The cheapest premiums offered to all cohorts were analyzed and were found to range from $255 to $963. Among the cheapest premiums offered USAA Casualty Insurance Company offers the most expensive one at $963. It is offered to single men under the age of 25.

The difference between the cheapest and median premiums is from $684 to $2,398. The cohort comprising single men under the age of 25 years can save the most by investing in the right company, since the price difference between the median and cheapest premiums is the largest for this cohort, at $2,398. The median policy for this group of drivers is provided by LM Insurance Corporation at $3,361. The most expensive premium is offered by Unitrin Auto and Home Insurance Company, at $11,346.

For married men under the age of 25 , the most expensive premium is offered by Unitrin Auto and Home Insurance Company, at $10,733. Our study shows that this group of drivers has the second highest probability of being involved in an accident. However, buyers can save up to $8,086 by choosing a company with rates below or equal to the median premium, $2,647.

Our study shows that 4 of the 7 driver cohorts analyzed were offered the cheapest premiums by USAA Casualty Insurance Company, while 3 were offered the second cheapest premiums by the same company. Unitrin Auto and Home Insurance Company offers the most expensive premiums for all 7 of the driver segments.

The following graph compares premiums across companies in Charleston, SC.

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The following table compares the car insurance premiums offered by key companies in Charleston, SC. It also lists the names of the companies and the differences between the median and cheapest or most expensive rates.

CohortCheapest Car Insurance CompaniesSecond Cheapest Car Insurance Companies in Charleston, SCMedian Car Insurance Companies in Charleston, SCSecond Most Expensive Car Insurance Companies in Charleston, SCMost Expensive Car Insurance Companies in Charleston, SCDifference between Cheapest and Median PricesDifference between Most Expensive and Median Prices
Single female drivers aged below the age of 25 yearsUSAA CASUALTY INSURANCE COMPANY ($843)UNITED SERVICES AUTOMOBILE ASSOCIATION ($858)GARRISON PROPERTY AND CASUALTY INSURANCE CO. ($2,849)ESURANCE INSURANCE COMPANY ($7,970)UNITRIN AUTO AND HOME INSURANCE COMPANY ($9,502)$2,006$6,653
Single male drivers below the age of 25 yearsUSAA CASUALTY INSURANCE COMPANY ($963)UNITED SERVICES AUTOMOBILE ASSOCIATION ($980)LM INSURANCE CORPORATION ($3,361)AUTO-OWNERS INSURANCE COMPANY ($10,491)UNITRIN AUTO AND HOME INSURANCE COMPANY ($11,346)$2,398$7,985
Single female drivers between the age of 25 and 65 yearsUNITED SERVICES AUTOMOBILE ASSOCIATION ($261)USAA CASUALTY INSURANCE COMPANY ($280)USAA GENERAL INDEMNITY CO ($945)ESURANCE INSURANCE COMPANY ($3,182)UNITRIN AUTO AND HOME INSURANCE COMPANY ($3,350)$684$2,405
Single male drivers between the age of 25 and 65 yearsUNITED SERVICES AUTOMOBILE ASSOCIATION ($292)USAA CASUALTY INSURANCE COMPANY ($313)STATE FARM MUTUAL AUTOMOBILE INS CO ($1,033)ESURANCE INSURANCE COMPANY ($3,148)UNITRIN AUTO AND HOME INSURANCE COMPANY ($3,674)$741$2,641
Married male drivers below the age of 25 yearsUSAA CASUALTY INSURANCE COMPANY ($628)UNITED SERVICES AUTOMOBILE ASSOCIATION ($639)ALLSTATE NORTHBROOK INDEMNITY COMPANY ($2,647)PROGRESSIVE NORTHERN INSURANCE COMPANY ($7,297)UNITRIN AUTO AND HOME INSURANCE COMPANY ($10,733)$2,019$8,086
Married male drivers between the age of 25 and 65 yearsUNITED SERVICES AUTOMOBILE ASSOCIATION ($255)USAA CASUALTY INSURANCE COMPANY ($273)METROPOLITAN DIRECT PROPERTY AND CASUALTY INS. CO. ($972)ESURANCE INSURANCE COMPANY ($2,856)UNITRIN AUTO AND HOME INSURANCE COMPANY ($3,489)$717$2,517
Married female drivers below the age of 25 yearsUSAA CASUALTY INSURANCE COMPANY ($557)UNITED SERVICES AUTOMOBILE ASSOCIATION ($566)SOUTH CAROLINA FARM BUREAU INSURANCE COMPANY ($2,227)LM INSURANCE CORPORATION ($7,094)UNITRIN AUTO AND HOME INSURANCE COMPANY ($8,793)$1,670$6,566


ABOUT THE AUTHOR

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Madhu Bolagani

Madhu is a data analyst and engineer at Raltin. His writings are driven by deep data mining and connecting the dots. His areas of expertise include finance, insurance and investing.

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