By SCBIZ Staff

GMAC Insurance announced Tuesday the company will reduce its auto insurance rates in South Carolina, effective immediately. Drivers in the Palmetto State can expect to save an average of 7% when purchasing GMAC Insurance coverage from 192 South Carolina-based independent agencies.

With fuel prices surging, these rate decreases will help customers manage their transportation costs, giving them a much-needed break, according to the company. In addition, GMAC Insurance's GM Loyalty Discount has increased, which means policies with only GM vehicles now get up to 5% off liability coverage.

“With lower claims costs and favorable market conditions, we have reduced the rates that our independent agents offer," said Scott Murphy, vice president of product and pricing, GMAC Insurance -- Personal Lines. "Given our long-term commitment to our customers and agents in South Carolina, we believe this is the right thing to do for both new and existing customers.”

The GMAC Insurance rate reduction is a statewide average that will affect individual customers differently. Overall premium changes for individual motorists will vary depending on factors such as the coverages they carry, the discounts for which they qualify, where they live, the kind of car insured, who drives it and how much it is driven.