Terms & Conditions

Please read these terms carefully. They govern your use of our services and form a binding agreement between you and Silver Anchor Insurance.

1. Introduction

These Terms and Conditions ("Terms") govern your access to and use of insurance services provided by Silver Anchor Insurance ("we", "us", or "our"). By applying for or maintaining a policy with us, you agree to be bound by these Terms, our Privacy Policy, and all applicable laws and regulations.

If you do not agree with any part of these Terms, please do not use our services.

2. Eligibility

To be eligible for coverage, you must:

  • Be at least 18 years of age;
  • Possess a valid U.S. driver’s license;
  • Garage your vehicle in a state where we are licensed to operate;
  • Provide accurate and complete information during the application process.

We reserve the right to deny coverage or cancel a policy if eligibility requirements are not met or if information is misrepresented.

3. Policy Formation & Binding Agreement

Your insurance policy becomes effective only after:

  • We issue a formal policy document or binder;
  • Initial premium payment is received and processed;
  • All underwriting conditions are satisfied.

A quote is not a contract. Coverage is not guaranteed until underwriting approval is granted.

4. Premiums & Payments

You agree to:

  • Pay premiums on time according to your selected plan (monthly, quarterly, etc.);
  • Update us promptly if your risk profile changes (e.g., new drivers, vehicle modifications, address change);
  • Understand that failure to pay may result in policy cancellation after applicable grace periods (typically 10 days).

We reserve the right to adjust premiums upon renewal based on claims history, driving record, or market conditions — with advance notice as required by law.

5. Claims Process

To file a valid claim, you must:

  • Notify us promptly (within 24–72 hours, where feasible);
  • Cooperate fully in the investigation (provide statements, documents, access to vehicle);
  • Take reasonable steps to prevent further damage (e.g., secure a broken window).

We will handle claims in good faith, but reserve the right to deny claims that are fraudulent, excluded, or not covered under your policy terms.

6. Limitation of Liability

To the fullest extent permitted by law, Silver Anchor Insurance shall not be liable for:

  • Indirect, incidental, or consequential damages (e.g., rental car costs unless specifically covered);
  • Losses arising from acts of God, war, or intentional criminal acts by the insured;
  • Errors or delays due to force majeure events (e.g., natural disasters, system outages).

Our liability is strictly limited to the coverage amounts and terms specified in your policy.

7. Termination & Cancellation

Either party may cancel the policy:

  • You may cancel anytime — refunds are pro-rated (minus any short-rate penalty, if applicable);
  • We may cancel for non-payment, fraud, material misrepresentation, or license suspension — with notice as required by your state’s insurance code.

8. Governing Law

These Terms and any claim arising from your policy shall be governed by the laws of the State of South Carolina, without regard to conflict of law principles. Any legal action must be brought in the courts of Charleston County, SC.

9. Changes to These Terms

We may update these Terms periodically. Material changes will be communicated via email or posted on our website at least 30 days before taking effect. Continued use of our services constitutes acceptance of revised Terms.

10. Contact Us

Questions about these Terms? Contact our Compliance Department:

Silver Anchor Insurance
Attn: Legal & Compliance
4000 South Faber Place Drive
Charleston, SC 29405
📞 +1 (415) 406 7667
✉️ [email protected]