One of the many things that help determine the amount you pay for auto insurance is where you keep your car in Nashville. Areas with a lot of weather claims or more people will most likely pay more, whereas areas with less crime or weather claims have the luxury of lower rates.
The following table sorts the priciest cities in Tennessee for Uber drivers to buy auto insurance in. Nashville makes the list at #14 with an annual cost of $1,177 for the average insured, which is about $98 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Memphis | $1,460 |
| 2 | Bartlett | $1,419 |
| 3 | Collierville | $1,363 |
| 4 | Germantown | $1,320 |
| 5 | Oak Ridge | $1,260 |
| 6 | Jackson | $1,253 |
| 7 | Columbia | $1,214 |
| 8 | Spring Hill | $1,205 |
| 9 | Maryville | $1,196 |
| 10 | Murfreesboro | $1,194 |
| 11 | Knoxville | $1,194 |
| 12 | Smyrna | $1,183 |
| 13 | Brentwood | $1,179 |
| 14 | Nashville | $1,177 |
| 15 | Clarksville | $1,170 |
| 16 | Morristown | $1,159 |
| 17 | La Vergne | $1,151 |
| 18 | Chattanooga | $1,149 |
| 19 | Cookeville | $1,147 |
| 20 | Hendersonville | $1,136 |
| 21 | Gallatin | $1,133 |
| 22 | Franklin | $1,129 |
| 23 | Cleveland | $1,124 |
| 24 | Johnson City | $1,063 |
| 25 | Kingsport | $1,026 |
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Prices are comparative as the specific geographic location can decrease or increase premium rates significantly.
The type of vehicle needing coverage is probably the biggest factor when consumers are trying to find cheap coverage for Uber drivers. Vehicles with average performance, an excellent safety record, or a low likelihood of having liability claims will cost much less to insure than high performance models. The table below estimates insurance premiums for a selection of the cheapest vehicles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,029 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,092 |
| Honda Accord EX 4-Dr Sedan | $1,135 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,192 |
| Jeep Grand Cherokee Laredo 4WD | $1,194 |
| Chevrolet Impala LT | $1,200 |
| Dodge Grand Caravan SXT | $1,217 |
| Hyundai Elantra SE Touring Station Wagon | $1,228 |
| Ford Escape Limited 4WD | $1,236 |
| Ford Explorer Eddie Bauer 2WD | $1,232 |
| Ford F-150 XLT Regular Cab 2WD | $1,253 |
| Toyota Prius | $1,257 |
| Ford Edge Sport AWD | $1,260 |
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Prices do not factor in your specific Nashville, TN location which can increase or decrease rates substantially.
Looking at the rates, vehicles like the Honda CR-V, Volkswagen Jetta, Honda Accord, Jeep Wrangler, and Jeep Grand Cherokee will definitely be a few of the more affordable vehicles to insure for Uber vehicles.
How to get discounts on Nashville auto insurance rates
Insurers that sell policies for Uber drivers may also offer policy discounts that can reduce rates by as much as 25% or more if you are eligible to receive them. A list of car insurance companies and their offered discounts are shown below.
- State Farm may have discounts that include accident-free, Steer Clear safe driver discount, anti-theft, multiple policy, multiple autos, and safe vehicle.
- Esurance offers discounts for homeowner, safety device, DriveSense, good student, online shopper, and online quote.
- Progressive includes discounts for multi-vehicle, online signing, online quote discount, good student, and homeowner.
- Liberty Mutual may include discounts for new vehicle discount, new graduate, multi-car, preferred payment discount, exclusive group savings, hybrid vehicle, and newly married.
- Auto-Owners Insurance has discounts for mature driver, company car, good student, anti-theft, and air bags.
- GEICO offers premium reductions for defensive driver, federal employee, daytime running lights, anti-lock brakes, and seat belt use.
The example below illustrates the comparison of car insurance costs with and without discounts applied to the premium. The data assumes a male driver, no claims or violations, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with marriage, anti-theft, accident-free, claim-free, multiple policy, and multiple vehicle discounts applied. When taking advantage of discounts, theamount saved on car insurance for Uber drivers is 28% or $507.
Full coverage rates compared to liability-only
Paying less for car insurance is important to most vehicle owners, and a good way to buy cheap insurance for Uber drivers is to only buy liability insurance. The information below visualizes the comparison of annual premium costs with full coverage and liability only. The rate quotes are based on no claims or driving citations, $500 deductibles, drivers are single, and no other discounts are factored in.
If all age groups are averaged, comp and collision coverage costs $1,494 per year more than carrying just liability coverage. That brings up the question if physical damage coverage is worth the money. There is no set guideline of when to phase out full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.
There are some circumstances where removing full coverage is not advised. If you still owe money on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
The example below demonstrates how deductibles can influence insurance costs when researching cheap insurance for Uber drivers. The costs are based on a single male driver, full coverage, and no discounts are factored in.
As shown above, a 40-year-old driver could pocket $238 a year by switching from a $100 deductible to a $500 deductible, or save $360 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 category, could reduce their rates up to $778 or even more by choosing a higher deductible.
If you do make the decision to raise your deductibles, it is essential to have additional funds in a savings account to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How to find cheaper car insurance for Uber drivers
It is possible to find better rates, and here are some money-saving ideas that can help drivers buy more affordable coverage.
- Tickets and violations raise rates
- Avoid accidents
- Earn discounts for being claim-free
- Buying home and auto insurance together can earn discounts
- Buy vehicles with five-star safety ratings
- Older vehicles may not need full coverage
- Compare prices frequently to find the best deal
The last idea is particularly valuable, as was noted in this write-up. Auto insurance prices change constantly, so don’t be unwilling to buy from a different company if you find a better deal.
Brand loyalty is not necessarily bad, but it’s not a great idea if that loyalty results in overpaying hundreds of dollars a year. It only takes a couple minutes to shop around to find cheaper insurance for Uber drivers in Nashville.
The agents shown below are willing to help you make a decision which policy is best, since some drivers aren’t sure which coverage they need and prefer to have the advice of a professional agent when buying car insurance for Uber drivers. It can be complicated to do it yourself, and getting professional guidance from a licensed agent can provide peace of mind knowing your policy gives you suitable coverage if you ever need to use it.
To locate a Nashville insurance agent nearest to you, click the link after the list.
- MJC Insurance Group
1506 Church St Suite 2 – Nashville, TN 37203 – (615) 873-1988 - Adam Darby – State Farm Insurance Agent
7041 Hwy 70 S #101 – Nashville, TN 37221 – (615) 869-7600 - Ray Watts – State Farm Insurance Agent
4703 Gallatin Pike – Nashville, TN 37216 – (615) 228-1338 - Nationwide Insurance: April Bowers Agency Inc
211 Donelson Pike #8 – Nashville, TN 37214 – (615) 883-8183