XI. Premium
| Library | The Law of Automobile Insurance in SC (SCBar) (2015 Ed.) |
XI. Premium
South Carolina was unique among the states in that, from the beginning of mandatory uninsured motorist coverage until 1974, the coverage was provided at no extra charge.243 An uninsured motorist fund was instead created and financed by a $15 registration fee charged to every person registering and licensing an uninsured vehicle. In light of an unfavorable loss experience suffered by the Fund, the fee was increased to $20 in 1963, $50 in 1967, and $100 in 1971.244 The Fund was distributed first to the State Highway Department as a reimbursement...
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