Sauls Insurance Agency

A Family Business serving South Carolina since 1966.

4064 Beltline Blvd.
Columbia, SC  29204
(803) 256-8983
    
 
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How much coverage do you need?

 

A brief description of auto policy coverages to help you decide what's best in your particular situation.  For more detailed information, read your policy or contact us to discuss your needs.

 

LIABILITY

 

Liability coverage pays for damage and injuries you are legally responsible for if you are at fault in an accident.

 

It protects you by protecting you from lawsuits and being forced to pay out of pocket for damages you cause to others.

 

Liability coverage is generally stated in 3 numbers, such as:

" 25 / 50 /25 " , which stand for:

$25,000  Payment for injuries to any one person

$50,000  Payment for injuries to more than one person

$25,000  Payment for property damage

 

Various limits are available.  The most commonly used limits, offered in our online quote form, are:

25 / 50 / 25 This is the minimum coverage the state of South Carolina requires to license a vehicle.  There is considerable risk in having on the minimum coverage, however.  Should you be at fault and cause more than $25,000 in injuries to one person (very easy at today's medical rates), or $25,000 damage to a vehicle (many newer car models are worth more than this), you would be responsible for the difference.  This could potentially cause you financial hardships for many years.
100 / 300 /50 This is the most common choice to provide broader coverage, sufficient for a great number of situations.  $100,000 for injuries to any one person ($300,000 if you injure multiple persons), and $50,000 property damage.
Higher Limits Higher limits are also available, as well as umbrella policies to protect individuals with substantial assets at risk. 

How much is enough?  Impossible to say!  In a terrible accident, if you cause damage to multiple cars or serious injuries to many people, it's almost impossible to have enough coverage.  However, the more you have, the better protected you are.

What's the best deal?  Higher limits of liability cost much less, per dollar of coverage.  You might expect doubling your coverage to double your premium, but the actual cost to increase coverage is quite small.

UNINSURED and UNDERINSURED MOTORISTS COVERAGE

Uninsured motorists coverage protects you for damage if you're hit by someone without insurance.  About 20% of all drivers don't have any insurance!  Furthermore, if you're victim of a "hit & run" driver, uninsured motorists coverage also protects you.

Underinsured motorists coverage protects you for damage if you're hit by someone who doesn't carry enough insurance.  Read the above section on liability coverage, and imagine yourself on the receiving end of the accident.  Remember that the guilty party could have hit several people, including you, and their insurance divided among them.  And remember that more than 50% of all drivers are carrying only the minimum!

Limits are available in the same amount at liability insurance.  State Law requires a minimum of 25 / 50 / 25 for uninsured motorists coverage, but no underinsured motorists coverage.

You can buy these coverages in amounts up to the amount of liability coverage you are carrying.

PHYSICAL DAMAGE COVERAGE  (Comp. & Collision)

These provide coverage for damage to your car when no other driver is at fault.

Collision Coverage pays for damage to your car if you hit something else.

Comprehensive Coverage (more accurately referred to as "Other Than Collision") pays for damage to your car when not moving.  This includes fire, theft, glass breakage, etc. 

These coverages are not required in South Carolina.  However, if your vehicle is financed, they are probably required by your lienholder.

They are purchased in terms of deductibles.  The deductible is the amount of a claim you must pay before the insurance begins paying.

What deductible should you choose?

Do you need physical damage coverage at all?

In short, you are best off choosing the highest deductible you can bear, without an accident or claim causing you financial harm.  The higher the deductible, the lower the premium.  Likewise, you may not need to purchase physical damage coverage at all if you could financially bear the loss of your vehicle (if totaled in an accident, or stolen, etc.).  Obviously, this decision is different for each individual, depending on his or her financial status.

 

OTHER COVERAGES

If you have questions about towing & labor, rental reimbursement, or other options, please contact us and we'll give you answers more specific to your situation.

NOTE:  The above are general descriptions only.  Actual coverage is defined by the auto insurance policy.  Each individual's needs vary, and more specific counseling can be offered by your agent.

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