Which Company Has the Lowest Cost of Car Insurance in Nashville?

Nashville, besides being the home of music, is a large city. Its population, in 2019, was 670,820. The average travel time to work in minutes for employees 16 and older was 24.7, this indicates that streets, highways, and other roads are crowded with vehicle traffic. Studies have concluded that this area is one of the worst in the country for traffic, though, so maybe it’s lucky the average is so low!

On top of this, the National Insurance Crime Bureau (nicb.org) reports that, in 2018, the number of vehicle thefts in the combined areas of Nashville and Davidson was 6,067. This equates to a rank of #111 and rate of 262.41 per 100k residents.

As a result, car insurance rates fall within a wide span. Depending on the insurance company, it can range from a low of about $250 to a high of almost $1,800.

When you begin to look for the insurance plan and company that are right for your vehicle needs, keep in mind that your state requires a certain amount of coverage. These are the minimums, which nearly every state has, though the levels differ. You can also opt to have more insurance than this, such as comprehensive or full coverage. These are different from liability.

What are the Insurance Requirements in Nashville?

Because you live in a large city, vehicle accidents, theft, and other unanticipated events, such as vandalism, are more likely to happen.

Your circumstances may vary from other car owners. If your car is newer and you are still paying off the loan, you will likely be required to carry comprehensive insurance; or if your car was recently paid off, you could now drop that extra coverage. Or, you may choose to keep the liability and full-coverage plan if you prefer to be extra prepared.

No matter your circumstances, you’ll need to budget out money to pay your insurance premiums. Tennessee requires that all drivers carry car insurance so that everyone is protected in the event of an accident.

These requirements include:

  • Bodily Injury Liability: $25,000 for each person and $50,000 for each accident if there is more than one person injured
  • Uninsured Motorist Bodily Injury: $25,000 for each person and $50,000 for each accident if there is more than one person injured
  • Property Damage Liability: $15,000 for each accident

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Nashville by Insurer

You can call the various insurance companies with offices in Tennessee to find a company that offers the plan you need. A minimum insurance plan that offers the coverage you need may run from $251 up to $676. A 50/100/50 plan may cost you $255 per year and go up to $696. A full coverage plan may start at $794 and go up to $1,794. Here we have some of the lowest cost car insurance available in the state, but you’ll want to call and make sure they have these prices for your specific situation.

Use this guide to compare the best auto insurance premiums by company.

Low Cost Auto Insurance for Bad Credit in Nashville

Bad credit histories can impact anyone. Unfortunately, that can cross over into the price you pay for car insurance, but you can’t drive without it, so where do you look when your credit isn’t stellar?

One of your best options is to look for an insurance provider that offers rates that you can break up by six or even 12 months, to make the payments more manageable. Their rates may still be high, but you can budget it out through the whole year rather than paying all at once, and it will keep your insurance from lapsing while you work to improve your credit.

Learn how bad credit can affect your car insurance rates.

Full Coverage Vs. Liability Coverage

What is Liability Only Insurance Coverage?

Liability-only coverage is the cheapest option for automobile insurance. This coverage level only covers vehicles that are not at fault in an accident. Thus, if you carry liability-only coverage and cause an accident, the other driver will be covered by your policy. Any damage done to your car must be covered out of pocket, if at all.

Another way to think of liability insurance is that it protects you from claims made by another driver. Without the protection of insurance, you might be sued if you were to collide with another vehicle.

Why You May Want Full Coverage Car Insurance

Full Coverage is a commonly used term which covers more than just the damage you might cause in an accident, or the coverage you are liable for. If your policy covers your liability to another vehicle, the damage done to your vehicle (collision insurance), and any incidental damage done to your car by any non-auto elements (comprehensive coverage), then you have a policy that is indeed full coverage. If you have a new car, you may wish to cover it with such a policy, as you might want the peace of mind that any damage will be covered by insurance.

What is the Difference Between the Two Types of Car Insurance?

The difference between full and liability coverage is quite dramatic. With liability, insurers gamble that they will only have to pay for one car in an accident. With a comprehensive or full coverage policy, insurance companies know that they are taking on more liability exposure and so their rates reflect the increased risk. In the case of a comprehensive policy, they might even have to cover claims for damages that don’t arise from a traffic incident.

Average Annual Car Insurance Rates in Tennessee by City

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Take Advantage of These Car Insurance Discounts

The following auto insurance discounts can be used to help lower your premiums in Nashville:

  • Shop around –

    As you can see from these few examples, the rates insurers charge for the very same driver demographics can vary incredibly. The television commercials by the insurers tell us we can save hundreds of dollars on automobile insurance. Actually, you could save a thousand or more dollars on your insurance each year.

  • Drive defensively –

    If you can stay out of accidents and don’t accrue moving violations, you can save a lot of money on your automobile insurance. People with too many accidents and moving violations have trouble getting insured at any rate.

  • Drive an older car –

    If you have a car that is too old and not worth enough to carry collision insurance, you can save quite a bit of money. This especially applies to younger drivers whose insurance costs are much higher. If they can drive an older vehicle that would just require liability insurance and maybe some inexpensive comprehensive insurance, they can save at least a thousand dollars or more on insurance.

  • Buy collision insurance with a high deductible rate –

    The higher deductible rate you can tolerate in the event of a collision and the need to repair your vehicle, the lower your collision insurance cost will be. Your collision insurance rate will be really high if your deductible is only around $500. If you can tolerate $1,500 or so, you can save quite a bit of money on this portion of your annual insurance rate.

  • Bundle your home and automobile insurance policies –

    If you can buy your automobile and home insurance from the same company, you will likely save money. Most insurers offer a substantial discount for having your home and auto policy with them.

Learn more about driver discounts for car insurance rates here.

These are the Common Reasons for Insurance Rates in Nashville TN

  • Gender
  • Marital Status
  • Age
  • Number of Violations
  • Credit Report/Score
  • Location
  • Driving Record
  • Insurance Company
  • Make and Model of your car
  • Your Insurance Plan
  • How many cars you have insured
  • Your Occupation
  • Miles you drive per year

Learn how a bad driving record can affect your car insurance rates.

Helpful Nashville, Tennessee Vehicle Resources:

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