Who Has Affordable Car Insurance Quotes for Veterans in Nashville?

The words “low-priced” and “insurance” probably shouldn’t be used together, specifically when searching for the best coverage prices for veterans. Let’s familiarize you with some things that significantly impact car insurance prices, and see if we can help you shave a little off the next policy you buy.

For veterans, one of the more important considerations that are looked at to help calculate auto insurance rates is where you keep your car in Nashville. Areas with high crime rates or more dense population tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper car insurance.

The next table sorts the most expensive areas in Tennessee for veterans to purchase car insurance in. Nashville is ranked at #14 with the yearly price of $1,177 on average, which is approximately $98 monthly.

How much does car insurance cost in Nashville, TN?
Rank City Average Per Year
1 Memphis $1,460
2 Bartlett $1,363
3 Germantown $1,360
4 Collierville $1,309
5 Jackson $1,266
6 Oak Ridge $1,260
7 Clarksville $1,206
8 Knoxville $1,194
9 La Vergne $1,186
10 Murfreesboro $1,183
11 Smyrna $1,183
12 Brentwood $1,179
13 Columbia $1,178
14 Nashville $1,177
15 Morristown $1,171
16 Spring Hill $1,169
17 Franklin $1,164
18 Maryville $1,160
19 Hendersonville $1,136
20 Cookeville $1,136
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Premium costs are approximated as zip code location can influence price quotes noticeably.

Finding decent, budget car insurance is challenging, and finding out which companies offer the lowest-priced insurance rates for veterans involves even more shopping around. Each auto insurance company uses different criteria for setting rates, so we’ll take a look at the most affordable insurance companies in Nashville.

It’s important to understand that Nashville, TN insurance rates are impacted by many factors that may substantially change the cost of your policy. This price fluctuation is why Nashville drivers need to spend some time comparing rates when trying to get the most budget-friendly insurance quotes for veterans. Insurance prices consist of many risk factors and can increase or decrease at any time, so the most economical company two years ago may now be priced much higher than other options.

Cheap Insurance Rates for Vets

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Rankings for the cheapest Tennessee auto insurance companies
Rank Company Cost Per Year
1 Utica National $760
2 Cincinnati Insurance $858
3 Auto-Owners $861
4 Penn National $899
5 USAA $929
6 Tennessee Farmers $961
7 Erie $997
8 Nationwide $1,002
9 Allied $1,060
10 Westfield $1,079
11 GEICO $1,110
12 State Farm $1,165
13 Travelers $1,165
14 Shelter $1,187
15 Progressive $1,190
16 Direct General $1,214
17 The Hartford $1,221
18 State Auto $1,254
19 21st Century $1,274
20 Chubb $1,316
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Utica National normally has some of the most affordable car insurance rates in Nashville at around $760 annually. Cincinnati Insurance, Auto-Owners, Penn National, and USAA also qualify as some of the cheapest Nashville, TN insurance companies.

As shown above, if you are currently insured with Cincinnati Insurance and switched to Utica National, you may realize yearly savings of approximately $98. Policyholders with Auto-Owners may save as much as $101 a year, and Penn National insureds might reduce prices by as much as $139 a year.

Bear in mind that those premium estimates are averages across all ages of drivers and types of vehicles and do not factor in an exact location for veterans. So the insurer that has the cheapest price for you may not even be in the list above. That is why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.

Comparison of full coverage and liability-only policies

Reducing the cost of insurance is the goal of the majority of vehicle owners, and an effective way to pay lower rates for insurance for veterans is to only pay for liability coverage. The chart below compares insurance premiums with liability coverage only compared to full coverage. The rates are based on no violations or accidents, $500 deductibles, marital status is single, and no additional discounts are factored in.

As an average for all age groups, comp and collision coverage costs an extra $1,366 per year over having just liability coverage. Lot’s of drivers question if buying full coverage is worth the expense. There is no definitive rule of when to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s assume your vehicle’s replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after you pay the deductible. If you are paying more than $700 annually for full coverage, then you may need to consider dropping full coverage.

Insuring your vehicle with the highest-rated company is hard considering how many companies sell insurance in Tennessee. The rank data shown next may help you choose which auto insurers you want to consider when comparing rate quotes.

These ratings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies that have a smaller presence are not included in this list. To compare rates from these top-rated insurers and more, click here.

Top 10 Large Auto Insurance Providers in Nashville Ranked by A.M. Best Rating

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Esurance – A+
  6. Progressive – A+
  7. Titan Insurance – A+
  8. The Hartford – A+
  9. Allstate – A+
  10. Nationwide – A+

Who has the cheapest Nashville car insurance?

Nashville, TN insurance rates are impacted by many things that can increase the cost of your policy. Improving your credit rating, adding a teenager to your policy, or getting a couple of tickets may generate price changes that can make some companies more affordable than others.

And not only may your rating factors change, but insurers file new Tennessee auto insurance rates as often as every quarter in order to offset underwriting gains or losses. Significantly higher losses may cause rate hikes, while less frequent claims can produce more affordable Nashville car insurance rates.

For instance, the graph below demonstrates which company has the cheapest car insurance in Nashville, TN for a 35-year-old male driver with no accidents or violations, and solid credit. If we estimate rates based on his current risk factors, Utica National might quote the best car insurance rates in Nashville at $863 a year. This is $465 less than the average policy premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and Tennessee Farmers are the remainder of the most affordable Nashville, TN auto insurance companies.

In this example, we will give the driver from the first rate comparison a claim or two, a lower credit score, and a few blemishes on his driving record. Since every car insurance company has a proprietary formula to determining premium rates, analyzing rate quotes may result in a new list of companies as shown below.

Erie now has the cheapest auto insurance in Nashville with Nationwide, Allied, Westfield, and GEICO also being competitive. This example proves why Tennessee drivers need to take the time to shop around when trying to get cheap auto insurance quotes for veterans.

Rates are made up of many things and change frequently, so the lowest-price company two years ago may now be quite expensive.