A recent study showed that the vast majority of drivers have remained with the same car insurance company for a minimum of four years, and virtually 40% of consumers have never taken the time to shop around. Most drivers in Nashville can save hundreds of dollars each year just by getting comparison quotes, but they just don’t want to shop around.
Truthfully, the best way to get the cheapest Mitsubishi Lancer insurance in Nashville is to do a yearly price comparison from companies in Tennessee.
- Spend a few minutes and learn about car insurance and the steps you can take to prevent expensive coverage. Many rating criteria that cause rate increases such as inattentive driving and a not-so-good credit score can be eliminated by paying attention to minor details. This article provides additional tips to get affordable coverage and get additional discounts that may have been overlooked.
- Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from a single company like GEICO and State Farm, while agents who are independent can provide prices from multiple insurance companies.
- Compare the quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate quote, ensure coverage does not lapse between policies.
- Give notification to your agent or company of your decision to cancel your current auto insurance policy and submit a completed application and payment to the newly selected company. Immediately upon receiving it, place the new certificate verifying coverage in an easily accessible location in your vehicle.
One thing to remember is that you use the same deductibles and limits on every price quote and and to get prices from every company you can. This ensures an apples-to-apples comparison and plenty of rates choose from.
Earn discounts on Nashville car insurance
The price of auto insurance can be rather high, but there are discounts available that may help make it more affordable. Certain credits will be shown when you purchase, but a few must be inquired about prior to receiving the credit. If you do not double check each discount possible, you are throwing money away.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to take driver’s ed class in high school.
- Military Discounts – Being deployed with a military unit may lower your premium rates slightly.
- Data Collection Discounts – Drivers who elect to allow data collection to study driving patterns by using a telematic data system such as State Farm’s In-Drive might see lower rates if they have good driving habits.
- Safety Course Discount – Taking a course in safe driver could cut 5% off your bill and also improve your driving technique.
- Home Ownership Discount – Owning your own home or condo may trigger a policy discount on car insurance because maintaining a house means you have a higher level of financial diligence.
- Paper-free Discount – A few larger companies will provide an incentive simply for signing on the web.
- Seat Belts Save – Drivers who require all occupants to fasten their seat belts can save 10% or more on the medical payments or PIP coverage costs.
Drivers should understand that most of the big mark downs will not be given to the whole policy. Some only reduce specific coverage prices like comprehensive or collision. So even though you would think you could get a free car insurance policy, you aren’t that lucky. But any discount will reduce your premiums.
The example below shows the difference between Mitsubishi Lancer insurance costs with and without discounts applied to the policy rates. The costs are based on a male driver, no accidents or driving violations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, multi-policy, claim-free, and marriage discounts applied.
A list of companies and some of their more popular discounts are shown below.
- GEICO may offer discounts for membership and employees, anti-theft, federal employee, five-year accident-free, daytime running lights, and emergency military deployment.
- Auto-Owners Insurance offers premium reductions for company car, multi-policy, anti-lock brakes, anti-theft, and paid in full.
- American Family has discounts for bundled insurance, air bags, good student, Steer into Savings, and defensive driver.
- Esurance policyholders can earn discounts including multi-car, DriveSense, paid-in-full, anti-lock brakes, safety device, and Switch & Save.
- Progressive may have discounts that include multi-vehicle, online quote discount, continuous coverage, online signing, and good student.
- State Farm has savings for Steer Clear safe driver discount, good driver, good student, Drive Safe & Save, multiple autos, and passive restraint.
- AAA includes discounts for pay-in-full, multi-car, AAA membership discount, good driver, education and occupation, good student, and anti-theft.
Before purchasing a policy, check with each company how you can save money. Some of the earlier mentioned discounts might not apply in your area. To choose companies who offer online Mitsubishi Lancer insurance quotes in Tennessee, follow this link.
The car insurance companies shown below are our best choices to provide comparison quotes in Nashville, TN. If multiple companies are listed, it’s highly recommended you get rate quotes from several of them in order to get a fair rate comparison.
Detailed insurance information
The coverage information shown next outlines a range of insurance costs for Mitsubishi Lancer models. Having a better understanding of how insurance policy premiums are determined can be useful when making decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $196 | $404 | $376 | $22 | $112 | $1,110 | $93 |
| Lancer ES | $196 | $404 | $376 | $22 | $112 | $1,110 | $93 |
| Lancer GTS | $218 | $464 | $376 | $22 | $112 | $1,192 | $99 |
| Lancer Sportback GTS | $218 | $464 | $376 | $22 | $112 | $1,192 | $99 |
| Lancer RALLIART | $242 | $526 | $376 | $22 | $112 | $1,278 | $107 |
| Lancer Sportback Ralliart | $242 | $526 | $376 | $22 | $112 | $1,278 | $107 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Price information does not factor in vehicle location which can decrease or increase coverage prices considerably.
Mitsubishi Lancer liability-only versus full coverage
The example below compares Mitsubishi Lancer car insurance rates with liability coverage only compared to full coverage. The data is based on no accidents or driving violations, $500 deductibles, marital status is single, and no discounts are taken into consideration.
Should you pay for full coverage?
There isn’t a steadfast formula of when to eliminate full coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s pretend your Mitsubishi Lancer replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $5,000 after paying your policy deductible. If premiums are more than $500 a year for full coverage, then it’s probably a good time to buy liability coverage only.
There are some scenarios where dropping full coverage is not financially feasible. If you still have a lienholder on your title, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Why Smart Buyers Pay Less for Mitsubishi Lancer Insurance
Lots of factors are part of the equation when premium rates are determined. Some are obvious like an MVR report, although some other factors are not as apparent like your continuous coverage or how financially stable you are.
- Liability coverage is important – Your policy’s liability coverage kicks in if a court rules you are at fault for damages from an accident. It will provide legal defense coverage which can cost thousands of dollars. Liability is cheap compared to comp and collision, so insureds should have plenty of protection for their assets.
- Your location is important – Choosing to live in areas with lower population can be a good thing when insuring your vehicles. Less people means fewer accidents and lower theft and vandalism rates. Drivers who live in large Tennessee cities have to deal with more traffic problems and more time behind the wheel. Longer commute distances means more chance of being in an accident.
- Eliminate unneeded add-on coverages – Insurance policies have a lot of extra add-on coverages you can purchase on your car insurance policy. Insurance for roadside assistance, high-cost glass coverage, and extra life insurance coverage are examples of these. The coverages may be enticing when deciding what coverages you need, but if you don’t need them get rid of them and save.
- A car insurance policy lapse is a bad thing – Having a gap between insurance policy dates will be a guaranteed way to trigger a rate increase. Not only will you pay more, failure to provide proof of insurance may result in fines or a revoked license. Then you may be required to file a SR-22 with the Tennessee motor vehicle department.
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High performance equals high rates – The performance level of the car you need insurance for makes a big difference in determining your rates. The lowest performance passenger vehicles usually have the lowest rates, but the final cost of insurance is determined by many other factors.
The following chart uses these variables: married female driver age 40, full coverage with $500 deductibles, and no discounts or violations. The data compares Mitsubishi Lancer car insurance rates compared to other models of vehicles that have a range of performance risks.
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Better drivers pay better prices – Your driving citation history can have a huge impact on auto insurance premiums. Having just one speeding ticket or other violation can increase rates forty percent or more. Good drivers pay lower auto insurance prices compared to drivers with tickets. People who have flagrant tickets like DWI, reckless driving or hit and run convictions may find they need to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to legally drive.
The example below highlights how speeding tickets and fender-benders can affect Mitsubishi Lancer insurance costs for each different age group. The information is based on a married female driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.
- Car insurance rates and your job – Careers like military generals, architects, and accountants are shown to have higher average rates because of intense work requirements and incredibly demanding work hours. On the flip side, careers like farmers, historians and the unemployed pay lower than average rates.
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Insurance loss statistics a Mitsubishi Lancer – Insurers analyze claim trends for every vehicle to determine a rate that will be profitable for them. Models that statistically have high amounts or severity of claims will have higher premium rates.
The next table shows the loss history for Mitsubishi Lancer vehicles. For each coverage category, the statistical loss for all vehicles combined as an average equals 100. Percentage numbers below 100 are indicative of better than average losses, while numbers above 100 indicate more frequent claims or a tendency for losses to be larger than average.
Insurance Loss Ratings for Mitsubishi Lancer Vehicles Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mitsubishi Lancer 2WD 153 146 127 192 218 172 Mitsubishi Lancer 4WD 149 131 148 135 Mitsubishi Lancer Evolution 4WD 225 123 221 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance agents can help
When buying the best insurance coverage, there really isn’t a one-size-fits-all type of policy. Everyone’s needs are different and your insurance should be unique as well. For example, these questions may help highlight whether you might need professional guidance.
- Am I covered when driving in Canada or Mexico?
- Are rock-chip repairs free?
- Will my insurance pay for OEM parts?
- Does every company file a SR-22 automatically?
- Are combined or split liability limits better?
- How does medical payments coverage work?
If you can’t answer these questions, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, free and can help protect your family.
Local neighborhood Nashville car insurance agents
Many drivers just want to buy from a local agent and that is a personal choice. Licensed agents are very good at helping people manage risk and help file insurance claims. A nice benefit of price shopping on the web is the fact that drivers can get cheap rate quotes and still have a local agent.
To find an agent, once you fill out this quick form, your coverage information is transmitted to local insurance agents in Nashville who can give free rate quotes for your business. You never need to find an agent because quoted prices will be sent to your email. If you have a need to quote rates for a specific company, you would need to visit that company’s website and fill out the quote form the provide.
Finding the right company needs to be determined by more than just the premium amount. You should also get answers to these questions.
- Are there any extra charges for paying monthly?
- Do they carry Errors and Omissions coverage?
- Are they in the agency full-time?
- Are they involved in claim handling?
- Does the agency support the community they serve?
- Can you get a list of referrals?
- What is their Better Business Bureau rating?
If you get positive responses to any questions you have as well as a affordable price, it’s possible that you found an insurer that is a good match to provide auto insurance coverage.
Why do I need car insurance?
Despite the high insurance cost for a Mitsubishi Lancer in Nashville, maintaining insurance may be required and benefits you in several ways.
- Almost all states have minimum liability requirements which means state laws require specific minimum amounts of liability insurance coverage if you want to drive legally. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a loan on your vehicle, more than likely the lender will force you to buy insurance to guarantee their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Mitsubishi for a much higher rate and force you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards not only your vehicle but also your financial assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. Liability coverage also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your Mitsubishi gets damaged, your policy will cover the damage repairs after a deductible is paid.
The benefits of buying auto insurance greatly outweigh the cost, particularly for liability claims. An average driver in America overpays more than $865 each year so you should quote rates every year to ensure rates are competitive.
A little work can save a LOT of money
Low-cost Mitsubishi Lancer insurance in Nashville can be purchased from both online companies in addition to local insurance agencies, and you should be comparing both to have the best rate selection. A few companies may not provide price quotes online and most of the time these small, regional companies provide coverage only through local independent agents.
When shopping online for car insurance, it’s very important that you do not buy poor coverage just to save money. In many instances, an accident victim reduced physical damage coverage only to regret they didn’t have enough coverage. The goal is to get the best coverage possible for the lowest cost while not skimping on critical coverages.
We just covered a lot of techniques to compare Mitsubishi Lancer insurance rates in Nashville. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. You may even discover the most savings is with a smaller regional carrier. Smaller companies may have significantly lower auto insurance rates on certain market segments compared to the large companies like State Farm, GEICO and Nationwide.
Helpful articles
- Rollover Crash FAQ (iihs.org)
- Who Has Affordable Car Insurance Rates for High Mileage Drivers in Nashville? (FAQ)
- What Insurance is Cheapest for 17 Year Olds in Nashville? (FAQ)
- How Much are Auto Insurance Rates for Good Drivers in Nashville? (FAQ)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)