The words “low-priced” and “insurance” really don’t belong together, especially when searching for the lowest insurance prices for 17 year olds. Let’s go over some situations the can have a considerable influence on insurance premiums, and see if we can help you take the sting out of the next policy you buy.
Figuring out which company offers the lowest-priced car insurance rates for 17 year olds requires a bit more work in order to find the best price. Every insurance company has their own formula for determining rates, so we’ll go over the car insurance companies with the most affordable rates in Nashville.
Find the Cheapest Auto Insurance for Teens
|Rank||Company||Cost Per Year|
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Utica National may have some of the best car insurance rates in Nashville at around $767 a year. This is $561 less than the average premium 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.
As the example above demonstrates, if you are a policyholder with USAA and switched to Auto-Owners, you might realize yearly savings of in the neighborhood of $111. Policyholders with Erie might save as much as $121 a year, and Tennessee Farmers customers might cut rates by $125 a year.
To see if you’re overpaying, click here or click several companies below for low rates.
Bear in mind that those policy rates are averages for all ages of drivers and types of vehicles and and are not calculated with a vehicle location for 17 year olds. So the car insurance company that is most affordable for your situation may not even be in the top 30 companies in the list above. That underscores the importance of why you need to get rate quotes using your own personalized driver profile and vehicle information.
The vehicle model requiring insurance is one of the largest factors when trying to find cheap car insurance for 17 year olds. Vehicles with lower performance, good crash test ratings, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models. The next table features coverage costs for a handful of the most economical vehicles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$3,937|
|Ford Escape XLT 2WD||$3,943|
|Hyundai Elantra GLS Touring Station Wagon||$3,937|
|Honda Accord LX-P 4-Dr Sedan||$3,942|
|Ford F-150 STX Regular Cab 2WD||$4,372|
|Dodge Grand Caravan CV||$4,414|
|Ford Edge SE AWD||$4,630|
|Chevrolet Impala LS||$4,635|
|Jeep Grand Cherokee Laredo 2WD||$4,672|
|Toyota RAV4 Sport 2WD||$4,682|
|Toyota Tacoma Double Cab 4WD||$4,672|
|Ford Explorer Eddie Bauer AWD||$4,715|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$4,842|
|Toyota Camry XLE||$4,928|
|Toyota Corolla XLE||$4,934|
|GMC Sierra SLE Regular Cab 4WD||$4,971|
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Data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in your specific Nashville, TN location which can influence price quotes significantly.
Based upon the table data, you can figure that cars like the Honda CR-V, Ford Escape, and Hyundai Elantra will definitely be the most budget-friendly vehicles to insure for teen drivers. Auto insurance rates will tend to be higher just due to the fact that there is more liability risk for 17 year olds, but overall those models will most likely have the least expensive rates available.
For teen drivers, one of the largest components that aid in calculating the amount you pay for auto insurance is your address in Nashville. Areas with increased crime or more people tend to pay slightly more, whereas less populated areas tend to receive cheaper rates.
The information below shows the highest-priced areas in Tennessee for 17 year olds to purchase car insurance in. Nashville shows up at #15 with an annual cost of $1,177 for the average policy, which is about $98 per month.
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Prices are comparative as zip code location can decrease or increase premiums significantly.
Insuring your vehicle with a highly-rated insurance company can be difficult considering how many different companies there are to choose from in Tennessee. The ranking information shown next may help you choose which car insurance providers to look at comparing prices from. The rankings below are for companies that insure vehicles across America, so companies without a large exposure are not factored into these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How much more does full coverage cost in Nashville?
Paying a lower price for car insurance should be important to most drivers, and one easy way to buy cheaper insurance for 17 year olds is to not buy comprehensive and collision coverage. The information below shows the difference between auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are factored in.
If averaged out across all ages, physical damage coverage costs $1,217 per year more than just insuring for liability. A very common question is if buying full coverage is worth the expense. There is no clear-cut formula of when to eliminate physical damage coverage, but there is a broad guideline. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $9,500 after paying your deductible. If premium cost is more than $950 a year for comprehensive and collision coverage, then it could be time to drop full coverage.
Types of discounts on Nashville car insurance
Insurance companies that sell policies for 17 year olds may also give you discounts that could potentially reduce rates by 25% or more if you are eligible. Larger car insurance companies and a selection of discounts are outlined below.
- State Farm may have discounts that include accident-free, Drive Safe & Save, good student, student away at school, multiple autos, and defensive driving training.
- Liberty Mutual has discounts for newly married, new graduate, safety features, good student, preferred payment discount, teen driver discount, and multi-policy.
- American Family includes discounts for mySafetyValet, defensive driver, good driver, air bags, multi-vehicle, and Steer into Savings.
- Progressive offers premium reductions for continuous coverage, homeowner, multi-vehicle, good student, and online signing.
- Farmers Insurance policyholders can earn discounts including business and professional, electronic funds transfer, early shopping, teen driver, homeowner, multi-car, and mature driver.
- Auto-Owners Insurance has savings for paid in full, company car, anti-lock brakes, anti-theft, good student, student away at school, and paperless.
- SAFECO may include discounts for multi-car, bundle discounts, drive less, homeowner, safe driver, anti-theft, and teen safety rewards.
The diagram below visualizes the comparison of insurance costs with and without discounts applied. The price estimates are based on a male driver, no claims, a clean driving record, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with paid-in-full, paperless filing, anti-theft, good student, passive restraint, and continuous coverage discounts applied. When drivers take advantage of discounts, theaverage amount saved on car insurance for 17 year olds is 28% or $652.