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PAL Finance Group, LLC

985 Amicks Ferry Rd
Chapin, SC 29036

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Auto Insurance Explained

Whether you drive an old car or a new automobile in Chapin, SC, you need auto insurance from PAL Finance Group LLC to protect you and your vehicle against covered perils like vandalism, theft, and fire. But because sometimes purchasing auto insurance can be challenging and overwhelming, at PAL Finance Group, we are here to help. Knowing the ins and outs of auto insurance helps you make an informed decision when shopping for auto insurance.

Is auto insurance mandatory in South Carolina?

Like many other states, South Carolina law requires all drivers to maintain the minimum amount of liability in their auto insurance. The liability coverage protects you against bodily injury and property damage caused to third parties. Failure to purchase auto insurance may attract fines and penalties, including license suspension.

Auto insurance coverage options 

Conforming to your state’s required minimums isn’t a guarantee that you are sufficiently protected. That said, it’s a prudent idea to consider the following coverages so that you can enjoy optimal protection while on or off the road. 

  • Collision coverage: It covers repairs or replacement of your vehicle after physical damages occur from a collision with another car or stationary object.
  • Comprehensive coverage: It pays for repairs or replacement of your vehicle after physical damage from non-collision perils like vandalism, hail, falling objects, and other prevailing risks.
  • Uninsured/underinsured motorist coverage: If you are hit by a motorist who is inadequately covered or isn’t insured at all, this coverage reimburses injuries and damages incurred.
  • Medical payments coverage: This policy covers medical costs such as hospitalization, surgery, physiotherapies, and X-rays if you or your passengers are hurt in an accident.

When shopping for auto insurance, it’s vital to feel secure knowing you have an insurance agent that takes your insurance needs at heart. If you are looking for such a partner, contact PAL Finance Group LLC in Chapin, SC.

Three things you should know about auto insurance in South Carolina

Motorists in South Carolina must be adequately informed about their insurance responsibilities. At PAL Finance Group LLC, we offer auto insurance coverage to drivers in and around Chapin, SC.

Here are three things that South Carolina motorists need to know about auto insurance requirements in their state. 

Motorists in South Carolina need to have at least $25,000 in property damage coverage. 

Motorists could be held liable for the costs of any property damage that results from accidents they are involved with. For this reason, the state requires auto insurance coverage to include at least $25,000 in property damage coverage. 

Motorists in South Carolina need to have at least $25,000 in bodily injury coverage per person per accident. 

Another urgent liability requirement is bodily injury coverage. The required amount of coverage per individual in an accident is $25,000. The state also requires at least $50,000 in bodily injury coverage total for an accident if multiple individuals are injured. 

South Carolina is a state that has requirements regarding both uninsured and underinsured motorist coverage.

South Carolina is one of the numerous states that includes uninsured motorist coverage along with its insurance requirements. There are two types of uninsured motorist coverage that the state requires. These include uninsured and underinsured motorist bodily injury coverage and property damage coverage. 

Of course, another requirement for state auto insurance policies is that motorists carry proof of insurance with them in their vehicles while driving at all times. 

If you’re on the market for the right insurance policy for your needs, we’re here to help. Send us a message at PAL Finance Group LLC to explore our auto insurance policies in Chapin, SC.