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Myrtle Beach auto insurance premiums are on the rise, as well as all across this great land we call America.  This is in part to a thriving economy which is putting more drivers on the road.  Here in South Carolina we rank #27 in the nation for auto insurance premiums, although keep in mind that premiums can vary by county and ZIP code.

Each insurance company adopts its own rating system for calculating premiums; although, there are a few factors that generally will affect your Myrtle Beach auto insurance premium.  They include:

·        Geographic Territory

·        Gender and Age

·        Years of experience driving

·        Marital Status

·        Prior Insurance Coverage

·        Length of time with carrier or prior carrier (loyalty)

·        Vehicle Use

·        Make and Model of Vehicle

·        Credit Score

·        Driving Record (Violations and Accidents)

·        Claim History

·        Saturation of insurance companies in your area

·        Local weather and road conditions

·        Technology in cars (see below)

Technology is considered by most to be good.  There is data to show that cars are safer today and that new technology is helping to prevent accidents. But, things like texting while driving is offsetting some of the benefit. 

The downside of technology…  There are scores of claims happening everyday – small fender benders that use to cost around $1500 to fix.  Some of the claims from a similar impact are now costing over $10,000, even $50,000 or more.  The amount of technology in a bumper now is astonishing!  The good news is that the repair costs are predicted to come down significantly over the next few years.

Luckily there are some things that can provide you with discounts to help reduce your Myrtle Beach auto insurance premium.  Take a look at your policy to make sure you are receiving some of these discounts below:

·        Multiple Vehicle

·        Multiple Driver

·        Safe Driving Course

·        Good Student Discount (youthful drivers)

·        Safety Equipment

·        Mature Driver

·        Anti Theft

·        Accident Free

·        Claim Free

·        Low Mileage

·        Home Ownership

·        Multiple Lines (home, auto, boat, etc)

·        Telematics (see below)

We need to touch on telematics.  This is most commonly known as the little device that you plug in under your steering wheel.  A growing number of auto insurance carriers are offering this and it is becoming mainstream.  Most devices track things such as:  the number of miles driven, the time of day or night driven, hard breaking, and rapid acceleration.  Some carriers give heavy discounts to the most careful drivers and the majority of carriers do not penalize you for bad driving.

If you're not happy with your current insurance company and/or agent because of their service or your premiums, then make the switch to a local Myrtle Beach independent agency like Davis & Massey.  Here at Davis & Massey Insurance we provide superior customer service as well as great rates.  We will give you the peace of mind at a price that's right for you.  Give us a call at 843-839-9229 for all of your Myrtle Beach auto insurance needs.

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