Who Has Affordable Nashville Auto Insurance for Young Drivers?

This article would sure be shorter if we could tell you the exact car insurance company that has the rock bottom lowest rates in Tennessee. Regrettably, it’s not quite that easy, as there are many unknowns like whether you are single or married, if you own or rent your home, and what your desired deductibles are. This article will detail the different ways to avoid overpaying and will hopefully give the reader a good start in finding the cheapest car insurance.

The make and model of vehicle needing coverage is probably the biggest factor when trying to find economical insurance for young drivers. Vehicles with average performance, a plethora of safety features, or a track record of few liability claims will cost quite a bit less to insure than higher performance models.

The data below shows car insurance costs for the most budget-friendly automobiles to insure.

Cheapest Vehicles to Insure in Nashville, TN
Make, Model, and Trim Level Estimated Cost for Full Coverage
Ford Escape XLS 4WD $4,772
Honda CR-V EX-L 4WD $4,817
Hyundai Elantra SE Touring Station Wagon $5,109
Toyota Prius $5,156
Dodge Grand Caravan CV $5,367
Ford Focus S 4-Dr Sedan $5,615
Chevrolet Impala LS $5,620
Toyota Tacoma 2WD $5,615
Toyota RAV4 4WD $5,659
Jeep Grand Cherokee Laredo 2WD $5,669
Toyota Camry LE $5,659
Ford Explorer Eddie Bauer AWD $5,706
Ford F-150 XLT Crew Cab 4WD $5,715
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Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in zip code location which can change price quotes substantially.

Looking at the rates, you can infer that vehicles like the Ford Escape, Honda CR-V, Hyundai Elantra, Toyota Prius, and Dodge Grand Caravan will definitely be some of the most budget-friendly vehicles to insure for youthful drivers. Rates will tend to be higher because of the fact that there is more claim risk for young drivers, but overall those particular vehicles will probably have the best rates available.

Buying cost effective car insurance is not always easy, and figuring out which companies have the best insurance rates for young drivers may require even more diligence.

Each auto insurance company uses a slightly different approach for setting prices, so first let’s look at the rankings for the overall cheapest insurance companies in Tennessee. We do need to point out that Nashville insurance rates are based on many factors that may substantially change the price of coverage. This price variation is why it is crucial to shop around to find affordable car insurance rates for young drivers. Rates are influenced by many different factors and can change substantially, so the best price the last time you compared rates may now not even be in the top five.

Find the Best Cheap Insurance for Teens

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Utica National has some of the lowest car insurance rates in Nashville at around $767 a year. This is $561 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA are also some of the best Nashville, TN car insurance companies.

In the above rates, if you are a policyholder with Penn National and switched to Utica National, you could see an annual savings of in the vicinity of $141. Customers with USAA might save as much as $162 a year, and Tennessee Farmers customers might lower prices by up to $184 a year.

Bear in mind that those premiums are averages across all insureds and vehicles and are not factoring in an exact location for young drivers. So the auto insurance company that can offer the best rates for your situation may not even be in the top 30 companies in the list above. That affirms the importance of why you need to get auto insurance quotes using your own specific driver information and vehicle.

Should you buy full coverage?

Lowering the price of insurance is the goal of most people, and one easy way to reduce the cost of insurance for young drivers is to only pay for liability coverage. The example below shows the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The information is based on no claims or driving citations, $1,000 deductibles, single status, and no discounts are applied.

If we average the cost for ages 20 through 70, physical damage insurance costs an additional $1,642 per year more than insuring for liability only. That is a significant amount which raises the question when is the right time to remove full coverage. There is no definitive guideline to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s assume your vehicle’s settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $8,000 after paying your policy deductible. If you are paying more than $800 a year to have full coverage, then you may need to consider dropping full coverage.

There are some cases where removing full coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.

Selecting a high-quality insurance company can be challenging considering how many choices there are in Tennessee. The information below could help you decide which coverage providers to look at comparing rate quotes with.

The rankings below are only comprised of companies with a national presence, so companies that have a smaller presence are not factored into this list. To get price quotes from these companies and more, follow this link.

Best Insurance Companies for Young Drivers in Nashville
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Erie Insurance 87 84 85 85% A+ 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies

Comparing rates can save you money

Nashville, TN insurance rates are influenced by many factors that may substantially change the price you pay. Simply having another birthday, having a teen driver, or getting a few speeding tickets can trigger changes in premium that can now make some companies cheaper than before. Not only may things change on your end, but insurance companies file new rates every year in order to protect their financial rating. Heavier than normal losses may result in more expensive premiums, while a better claims history may result in more affordable Nashville car insurance rates.

The graph below shows which companies have the cheapest car insurance in Nashville, TN for a 35-year-old female driver with no accidents, a clean driving record, and great credit. When quoting prices based on her current risk profile, Utica National offers the most affordable car insurance rates in Nashville at $897 each year. This is $431 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, USAA, and Penn National are also included in the most affordable Nashville, TN auto insurance companies.

The chart below compares rates after we give the driver from above an at-fault accident, less-than-perfect credit, and a couple of points charged on her driving record. Due to the fact that every insurance company has a proprietary method to determine rates, comparing rates could result in a significantly different list of affordable companies as shown below.

Erie now has the best car insurance rate in Nashville with Nationwide, Westfield, Allied, and GEICO also having competitive pricing. This example demonstrates why it is critical to spend some time comparing rates when trying to find the most economical auto insurance rates for young drivers.

Auto insurance prices are influenced by many different factors and can change substantially, so the most economical option when you last compared rates may now be one of the more expensive options.

The agents listed below are willing to help you decide which policy is best, as many people would rather get some professional advice when comparing insurance rates for youthful drivers. It can be challenging to do it yourself, so a professional agent can give you peace of mind knowing your policy gives you adequate coverage if you have an accident or claim. To locate a Nashville car insurance agency nearest to you, click the button at the bottom or click here to compare rates now.

Eric Jans Insurance Agency
1805 Ordway PlNashville, TN 37206(615) 478-7146

Antioch Insurance
1311 Antioch PikeNashville, TN 37211(615) 834-7106

Tri-City Insurance Agency
4400 Nolensville PikeNashville, TN 37211(615) 331-0770

Mike Maclean – State Farm Insurance Agent
3922 Gallatin PikeNashville, TN 37216(615) 891-1241

Eby Insurance
65 Parris AveNashville, TN 37210(615) 254-8343

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