Liability Coverage
Liability insurance is required by law in South Carolina and most states. It covers bodily injury and property damage you cause to others in an accident. This includes medical expenses, lost wages, pain and suffering, and vehicle repairs for the other party. South Carolina requires minimum limits of 25/50/25, meaning $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $25,000 for property damage. However, these minimums may not be sufficient for serious accidents.
Collision Coverage
Collision coverage pays for damage to your vehicle resulting from a collision with another vehicle or object, regardless of who's at fault. This coverage is optional but highly recommended, especially if you have a loan or lease on your vehicle. Your lender typically requires collision coverage. The coverage amount is based on your vehicle's actual cash value, minus your deductible.
Comprehensive Coverage
Comprehensive coverage protects your vehicle from non-collision incidents such as theft, vandalism, fire, natural disasters, falling objects, and animal collisions. Like collision coverage, it's optional but often required by lenders. Comprehensive coverage is particularly valuable if you live in areas prone to severe weather, theft, or if you park your vehicle in areas with high crime rates.
Uninsured/Underinsured Motorist Coverage
This coverage protects you if you're hit by a driver who has no insurance or insufficient insurance to cover your damages. In South Carolina, uninsured motorist coverage is required, but you can reject it in writing. However, this is generally not recommended as it provides important protection. Underinsured motorist coverage kicks in when the at-fault driver's limits are too low to cover all your expenses.
Medical Payments Coverage
Medical payments coverage (MedPay) pays for medical expenses for you and your passengers regardless of who's at fault. It covers hospital visits, doctor bills, surgery, X-rays, and other medical costs. This coverage is optional in South Carolina but can be valuable, especially if you don't have health insurance or have high health insurance deductibles.
Personal Injury Protection (PIP)
PIP is similar to MedPay but more comprehensive. It covers medical expenses, lost wages, and sometimes funeral expenses. PIP is required in some states but optional in South Carolina. It provides broader coverage than MedPay and can be particularly beneficial if you're unable to work due to accident-related injuries.