Source: www.doi.sc.gov
Topic: Car Insurance
Sort Desciption: passengers in his or her own car. 2) CONSUMERS have to provide. proof of insurance or authorization. to legally drive uninsured upon the ...
Content Inside: Prepared by the South Carolina Department of Insurance 300 Arbor Lake Drive Suite 1200 P.O.Box 100105 Columbia, South Carolina 29202-3105 (803) 737-6180 // (800)-768-3467 www.state.sc.us/doi From the South Carolina Department of Insurance In response to rising consumer complaints about good risk drivers subsidizing the costs of bad risk drivers and the overall cost of auto- mobile insurance in South Caro- lina, the SC General Assembly en- acted S.C. Act No. 154 of 1997 (Act 154). This legislation completely reformed the automobile insurance delivery system in South Carolina. The intent of the legislation is to increase competition in the auto- mobile insurance marketplace in the state; thereby lowering the costs of automobile insurance for South Carolina consumers. Below is a list of some of the more signifi- cant changes to the marketing and sale of automobile insurance in the state of South Carolina. 1) ANY eligible consumer may le- gally drive uninsured in South Carolina by paying an annual $550 fee to the Department of Public Safety. However, if that consumer is involved in an accident, he/she will be personally liable for dam- ages caused to the property or per- son(s) of the other vehicle and any passengers in his or her own car. 2) CONSUMERS have to provide proof of insurance or authorization to legally drive uninsured upon the request of law enforcement officers. 3) INSURERS no longer have to insure all vehicle owners regard- less of risk. The old law required that insurance companies sell in- surance to any vehicle owner in South Carolina who needed insur- ance and had a valid drivers li- cense. This was called the “mandate-to-write.†Act 154 elimi- nated the mandate-to-write insur- ance and gives insurance compa- nies the right to decide whether or not to sell automobile insurance based on risk factors associated with each driver and automobile. An insurer may refuse to write auto insurance, but cannot base the refusal on income le ...
