The words “low-cost” and “insurance” really shouldn’t be used in the same sentence, especially when you are looking for the cheapest coverage for safe drivers. To save some money, let’s familiarize you with some of the things that have an effect on insurance prices, and see how we can help you lower the price of your next policy.
The vehicle on the policy is probably the largest consideration when consumers are trying to find economical auto insurance for safe drivers. Vehicles with high performance engines, poor safety ratings, or a track record of large liability claims will cost quite a bit more to insure than more economical and safe models. The table below outlines auto insurance premiums for the most cost-effective vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $1,093 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,161 |
| Toyota Prius | $1,184 |
| Ford Escape XLS 4WD | $1,207 |
| Jeep Grand Cherokee Laredo 4WD | $1,265 |
| Toyota RAV4 4WD | $1,270 |
| Chevrolet Impala LT | $1,265 |
| Dodge Grand Caravan SE | $1,312 |
| Ford Focus S 4-Dr Sedan | $1,359 |
| Chevrolet Malibu LTZ | $1,366 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,359 |
| Honda Odyssey EX | $1,368 |
| Chevrolet Equinox LTZ AWD | $1,359 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $1,384 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,387 |
| Ford Edge SEL AWD | $1,391 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,419 |
| Hyundai Sonata SE 4-Dr Sedan | $1,426 |
| Ford F-150 FX4 4WD | $1,457 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,462 |
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Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can impact auto insurance rates significantly.
Based upon the rates shown, makes and models like the Honda CR-V, Volkswagen Jetta, Toyota Prius, Ford Escape, and Jeep Grand Cherokee will be some of the cheaper vehicles to insure for good drivers.
One of the more important components that are used to help calculate the amount you pay for auto insurance is where you live in Nashville. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents tend to receive cheaper rates.
The information below sorts the most expensive areas in Tennessee for safe drivers to buy auto insurance in. Nashville is ranked #9 costing $1,201 on average, which is about $100 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Memphis | $1,446 |
| 2 | Bartlett | $1,363 |
| 3 | Germantown | $1,360 |
| 4 | Collierville | $1,349 |
| 5 | Jackson | $1,292 |
| 6 | Knoxville | $1,218 |
| 7 | Columbia | $1,214 |
| 8 | Oak Ridge | $1,210 |
| 9 | Nashville | $1,201 |
| 10 | Maryville | $1,196 |
| 11 | Spring Hill | $1,193 |
| 12 | La Vergne | $1,186 |
| 13 | Brentwood | $1,179 |
| 14 | Smyrna | $1,159 |
| 15 | Clarksville | $1,158 |
| 16 | Murfreesboro | $1,148 |
| 17 | Cookeville | $1,147 |
| 18 | Franklin | $1,140 |
| 19 | Gallatin | $1,133 |
| 20 | Morristown | $1,125 |
| 21 | Hendersonville | $1,124 |
| 22 | Chattanooga | $1,115 |
| 23 | Cleveland | $1,102 |
| 24 | Johnson City | $1,063 |
| 25 | Kingsport | $1,057 |
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Rate quotes are estimated as the specific area where the vehicle is garaged can influence coverage prices substantially.
Deciding which companies quote the best insurance rates for safe drivers may require a little more work in order to find a policy that fits your budget. Every car insurance company uses different criteria for determining rates in each state, so we need to take a look at the most budget-friendly insurance companies in Tennessee.
It’s important that readers know that Nashville, TN insurance rates are calculated based on many things which can substantially decrease or increase the price you pay. Turning one year older, becoming a homeowner, or getting a ticket for running a stop sign can cause premium changes that can cause some rates to be much cheaper than others.
Cheap Insurance Rates for Safe Drivers
Utica National generally has some of the best car insurance rates in Nashville at around $737 a year. This is $591 less than the average premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA also rank well as some of the best Nashville, TN auto insurance companies.
In the above rates, if you are insured with Penn National and switched to Auto-Owners, you may see annual savings of about $47. Insureds with USAA might save as much as $58 a year, and Tennessee Farmers insureds might realize rate reductions of up to $90 a year.
These premium estimates are averaged for all ages of drivers and types of vehicles and do not factor in a specific location for safe drivers. So the insurer that has the cheapest price for you may not even be in the top 30 companies shown above. That affirms the importance of why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
Irresponsible driving raises your rates
The easiest way to get the most affordable insurance prices for good drivers is to be a safe driver and maintain a clean driving record. The chart below highlights how traffic violations and at-fault fender-benders increase insurance costs for each age group. The data assumes a married male driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of an auto insurance policy in Nashville per year with no accidents and a clean driving record is $1,419. Receive two speeding tickets and the average cost increases to $1,960, an increase of $541 each year. Now get two accidents along with the two speeding tickets and the annual cost of insurance for safe drivers jumps again to an average of $3,880. That’s an increase of $2,461, or $205 per month, just for being a careless driver!
Discount Nashville insurance
Auto insurance companies that provide policies for safe drivers may additionally offer special discounts that may potentially lower prices by 40% or more if you qualify for them. A few of the larger companies and a selection of discounts are:
- Farm Bureau may have discounts that include 55 and retired, multi-vehicle, youthful driver, driver training, renewal discount, safe driver, and multi-policy.
- Liberty Mutual discounts include multi-policy, hybrid vehicle, new graduate, good student, and newly retired.
- State Farm policyholders can earn discounts including good student, safe vehicle, accident-free, driver’s education, and good driver.
- Auto-Owners Insurance offers discounts including good student, safe vehicle, mature driver, paperless, paid in full, air bags, and multi-policy.
- GEICO may include discounts for defensive driver, seat belt use, driver training, emergency military deployment, air bags, anti-theft, and daytime running lights.
- SAFECO has savings for accident prevention training, anti-theft, teen safety rewards, safe driver, bundle discounts, homeowner, and multi-car.
The information below illustrates the difference between insurance rates with and without discounts applied to the rates. The rate quotes are based on a male driver, no accidents, no driving violations, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with anti-theft, safe-driver, vehicle safety, accident-free, multiple vehicle, and passive restraint discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for safe drivers is 28% or $507.
The information below illustrates how your choice of deductibles can impact insurance costs when researching cheap insurance for safe drivers. The data assumes a married male driver, comp and collision included, and no policy discounts are applied.
A 30-year-old driver could lower their policy premium by $224 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $340 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old, could lower their rates $670 annually just by choosing higher deductibles.
If you do decide to increase your deductibles, it will be important to have additional funds squirreled away to offset the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Here’s why you should shop around
Nashville, TN insurance rates are impacted by many factors that may substantially change the price you have to pay. Simply turning a year older, filing a claim, or getting a ticket for running a stop sign may cause policy rate changes that can make some companies cheaper than before.
Not only may things change on your end, but auto insurance companies change the rates they charge in Tennessee every year in order to remain profitable. Unexpectedly high claims can cause increased rates, while a better loss history can result in lower-priced Nashville car insurance rates.
To illustrate this point, the data below shows the company with the cheapest car insurance in Nashville, TN for a 40-year-old male driver with no violations or accidents, and excellent credit. If we compare prices based on his current risk profile, Utica National quotes the best car insurance rates in Nashville at $894 annually. This is $434 less than the average rate paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA also make the list of the most affordable Nashville, TN auto insurance companies.
Now let’s give the driver from the first example a chargeable claim, poor credit, and a stop sign violation. Since each auto insurer has their own process to establish rates, comparing quotes could now result in a significantly different list of affordable Nashville car insurance companies as shown below.
Erie now has the best auto insurance rate in Nashville, TN with Nationwide, Allied, Westfield, and Auto-Owners now being in the top five. This example proves why consumers need to take the time to compare as many rates as possible when trying to find the cheapest insurance quotes for safe drivers.
Auto insurance prices are calculated by many risk factors and can change without notice, so the cheapest option two years ago may now be one of the higher cost companies.