Full Coverage Auto Insurance for Myrtle Beach | Davis Insurance Associates – Car Insurance

Full Coverage Auto Insurance in Myrtle Beach: What You Need to Know

September 5, 2024, by Brad Davis, CIC

 

Introduction

Myrtle Beach, SC is a great place to visit and live, but the charming coastal town comes with challenges of unpredictable traffic, seasonal storms, and the daily risks of driving. To keep your vehicle protected on the busy roads of Myrtle Beach, full coverage auto insurance is often the best option.

But what exactly is “full coverage”, and why is it so essential for drivers in Myrtle Beach?

Spoiler alert – full coverage does not cover your car for every possible scenario. The term “full coverage” is more of a misleading term that has been used for years, and we really shouldn’t use that term at all.

For the sake of this blog post, I will continue to use the term “full coverage”, but let’s agree now that it’s not the best way to describe the coverage you want or have.

What is Full Coverage Auto Insurance?

Full coverage does not cover you or your vehicle for every possible type of loss or damage, but it generally includes:

1. Liability Coverage: This is mandatory in South Carolina and covers damages or injuries you cause to others in an accident. It includes:

• Bodily Injury Liability: Covers medical expenses for injuries to other people in an accident.
• Property Damage Liability: Covers damages to another person’s property (like their car, fence, or building) caused by your vehicle.

2. Collision Coverage: Pays for repairs to your own vehicle if you’re involved in an accident, typcially for when you are at fault. This coverage applies whether you hit another vehicle, a stationary object, or if your car rolls over.

3. Comprehensive Coverage: This protects your vehicle from non-collision-related damage, such as theft, vandalism, fire, or damage from natural disasters like hurricanes or hail. Given Myrtle Beach’s susceptibility to hurricanes and severe weather, this coverage can be crucial.

4. Uninsured/Underinsured Motorist Coverage: If you’re in an accident with someone who doesn’t have insurance or doesn’t have enough to cover your damages, this coverage helps protect you. In South Carolina, uninsured motorist coverage is required by law, but underinsured motorist coverage is optional.

 

Why You Need Full Coverage Car Insurance in Myrtle Beach

1. Seasonal Traffic and Increased Accident Risk

Myrtle Beach is a popular tourist destination, attracting millions of visitors every year. During peak tourist seasons, the roads become more congested, increasing the likelihood of accidents. Even if you’re a cautious driver, the influx of out-of-town drivers unfamiliar with the area can lead to accidents. Full coverage auto insurance ensures that if you’re involved in an accident, your vehicle is better protected, regardless of who’s at fault.

2. Hurricane and Storm Damage

Living on the coast comes with the risk of severe weather. Myrtle Beach is no stranger to hurricanes, tropical storms, and heavy rain, all of which can cause significant damage to your vehicle. Flooding, falling debris, or even vehicles being swept away by storm surges are real concerns. Comprehensive coverage, generally a part of full coverage insurance, protects your vehicle from weather-related damage, which is especially important in a coastal city.

3. Protection from Theft and Vandalism

Myrtle Beach’s popularity also means a higher chance of vehicle theft or vandalism, especially in crowded tourist areas or during events. Full coverage auto insurance, with comprehensive protection, can cover the cost of repairs or replacement if your car is stolen or vandalized.

4. New or Financed Vehicles

If you’ve recently bought a new car or financed one through a bank or dealership, full coverage is often required by lenders. New vehicles are valuable investments, and lenders want to ensure that you can cover the costs of repairs or replacement in the event of an accident. Full coverage insurance gives you peace of mind knowing that your investment is protected.

5. Accidents with Uninsured or Underinsured Drivers

Despite legal requirements, not all drivers in South Carolina carry adequate insurance. According to the Insurance Information Institute, South Carolina has a relatively high percentage of uninsured drivers on the road. If you’re involved in an accident with someone who doesn’t have enough insurance, uninsured/underinsured motorist coverage ensures that you won’t have to pay out of pocket for damages (except South Carolina policies have a $100 deductible for property damage covered with uninsured motorist coverage).

Is Full Coverage Right for You?

While full coverage provides extensive protection, it may not be necessary for every driver. If you’re driving an older vehicle with a low market value, you might find that the cost of full coverage outweighs the potential benefits. However, for many drivers in Myrtle Beach, full coverage is a worthwhile investment.

You should consider full coverage if:

• You drive a newer vehicle: Protect your investment and avoid significant repair or replacement costs.

• You live in a high-risk area for theft, storms, or accidents: Myrtle Beach’s location makes it more prone to these risks.

• Your vehicle is financed or leased: Lenders often require full coverage until the car is paid off.

• You want peace of mind: Full coverage can ensure you are financially protected in most situations, from accidents and natural disasters.

 

Balancing Cost and Coverage

One concern many drivers have with full coverage is the cost. While it is more expensive than liability-only insurance, there are ways to manage the costs:

• Increase your deductible: Raising your deductible can lower your premium. Just make sure you can afford the deductible in the event of a claim.

• Bundle insurance policies: Many insurers offer discounts if you bundle auto insurance with other policies, like home or renter’s insurance.

• Shop around: Insurance rates can vary widely between companies, so it’s important to compare quotes and find a policy that meets your needs at a price you can afford.

 

Conclusion and Last Word

If you’re driving in Myrtle Beach and want the best protection for your vehicle, consider full coverage auto insurance. It’s an investment that could save you thousands in repairs, replacements, and legal fees down the road.

I doubt you will ever find “full coverage” in an auto insurance policy. Because, again, it is not an actual insurance term, but something that (is sometimes misused) basically means a car insurance policy with Comprehensive and Collision coverage. Sometimes when people say I want full coverage they want every available coverage (including things like Towing & Rental Reimbursement), but sometimes it just means they want what is required plus Comprehensive and Collision).

For these reasons and because it can be ambiguous, I really think it is better to just name the coverages versus saying “full coverage”.