It's hard to miss the catchy advertisements from auto insurance companies like The General and Allstate that guarantee dirt cheap rates, so drivers should just pick one at random, right?
It's not that simple, unfortunately, as there are a whole slew of unknown aspects such as the miles you drive each year, if you are a homeowner, whether you are married or single, and what physical damage coverage deductibles you want. If you keep reading, we will teach you about some of these things and will hopefully give you a good beginning to your search for cheaper coverage.
Finding good, cheap auto insurance is not the easiest thing to do, and figuring out which companies have the best car insurance rates for high mileage drivers takes a bit more work. Each insurance company has their own formula for filing rates in each state, so we need to take a look at the car insurance companies with the overall best prices in Nashville, TN.
We do need to point out that Nashville car insurance rates are impacted by many factors that control the price you pay. This price variability is why consumers need to take the time to shop around to find the most budget-friendly insurance quotes for high mileage drivers. Rates are influenced by many risk factors and change frequently, so the cheapest company the last time you shopped your coverage around may now be wasting a lot of money.
Cheap Insurance Rates in Tennessee
Utica National generally has some of the lowest car insurance rates in Nashville at around $767 per year. This is $561 less than the average rate paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Penn National, and Tennessee Farmers would also make the list of some of the best Nashville, TN car insurance companies.
As depicted above, if you currently have coverage with Penn National and switched to Cincinnati Insurance, you may see a yearly price reduction of in the vicinity of $49. Customers with Tennessee Farmers may save as much as $73 a year, and USAA policyholders might reduce rates by $97 a year.
To see if you're overpaying, click here or click several companies below for low rates.
Understand that those prices are averages for all drivers and vehicles and and are not figured with an exact zip code location for high mileage drivers. So the car insurance company that fits you best may not even be in the top 30 companies in the list above. That is why you need to compare rates from multiple companies using your own driver and vehicle profiles.
One of the many things that determine insurance cost is where you keep your vehicle in Nashville. Areas with a lot of weather claims or more people are more likely to pay higher prices, whereas areas with less crime or weather claims benefit from lower rates.
The information below sorts the most expensive cities in Tennessee for high mileage drivers to purchase a policy in. Nashville shows up at #12 with an annual rate of $1,177 on average, which is about $98 monthly.
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Premium costs are estimated as the specific garaging location can increase or decrease price quotes substantially.
The car, truck, or SUV you are buying coverage for is probably the most important factor when trying to find low-priced auto insurance for high mileage drivers. Vehicles with high performance, poor safety features, or a track record of large liability claims will cost substantially more to insure than safer models. The next table showcases coverage premiums for a selection of the most cost-effective automobiles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Focus SE 4-Dr Sedan||$1,160|
|Ford Edge SEL 2WD||$1,168|
|Toyota RAV4 Sport 4WD||$1,183|
|Honda CR-V LX 2WD||$1,229|
|Ford Escape Limited 4WD||$1,244|
|Honda Accord EX-L 4-Dr Sedan||$1,252|
|Hyundai Elantra GLS 4-Dr Sedan||$1,244|
|Toyota Camry XLE||$1,253|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,263|
|Chevrolet Malibu LTZ||$1,267|
|Toyota Corolla XRS||$1,277|
|Nissan Altima 3.5 SR 4-Dr Sedan||$1,267|
|Chevrolet Equinox LTZ AWD||$1,274|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,267|
|Kia Optima LX||$1,269|
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can increase or decrease coverage prices greatly.
Looking at the rates, you can see that makes and models like the Ford Focus, Ford Edge, and Toyota RAV4 are the less-costly vehicles to insure for high mileage drivers.
Impact of careless driving on Nashville car insurance rates
In a perfect world, the ideal way to receive the best car insurance prices for high mileage drivers is to drive cautiously and not get tickets or have accidents. The chart below highlights how speeding tickets and accidents impact insurance rates for each different age group. The information is based on a single male driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.
The data charted above shows the average cost of auto insurance in Nashville per year with a clean driving record and no accidents is $1,819. Receive two speeding tickets and the average cost swells to $2,404, an increase of $585 each year. Then throw in two accidents along with the two speeding tickets and the yearly cost of car insurance for high mileage drivers increases to an average of $4,705. That's an increase of $2,885, or $240 per month, just for not maintaining a clean driving record!
The example below illustrates how your choice of deductibles can influence insurance prices when getting quotes for cheap insurance for high mileage drivers. The data is based on a single female driver, full coverage, and no discounts are applied.
The data above shows that a 40-year-old driver could cut expenses by $230 a year by changing from a $100 deductible up to a $500 deductible, or save $346 by selecting a $1,000 deductible. Young drivers, such as the Age 20 example, can cut as much as $580 every year by choosing a higher deductible. If you make the decision to raise deductibles, it is essential to have plenty of money set aside to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Your low-price policy may be costing you money
Nashville car insurance rates are based on many factors which can significantly increase or decrease the cost of having a policy. Getting older, buying a home, or getting a DUI may cause policy rate changes that can now make some companies more affordable than others.
Additionally, companies amend premium rates as often as every quarter to adjust for heavy claims or excess profits. Significantly higher losses can cause rate increases, while profitable underwriting can result in more affordable Nashville car insurance rates.
For example, the chart below shows a variety of companies that have the cheapest car insurance in Nashville, TN for a 40-year-old female driver with no accidents or violations, and a good credit history. When quoting prices based on her personal risk profile, Utica National might offer the most affordable car insurance rates in Nashville at $837 per year. This is $491 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and Tennessee Farmers are the rest of the cheapest Nashville, TN auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a claim, slightly worse credit, and a blemish on her driving record. Because each insurer has a proprietary method for determining prices, comparing quotes most likely will result in a substantially altered list of the cheapest companies as shown below.
Erie now has the cheapest car insurance in Nashville with Nationwide, Westfield, Allied, and GEICO completing the list. This shows why it is so important to take the time to shop around to find the most affordable auto insurance rates for high mileage drivers. Car insurance prices can be determined by many different factors and can decrease or increase without notice, so the best price the last time you checked may now be quite expensive.