Save Money on Chrysler 300 Insurance in Nashville

Insurance for Chrysler 300The recommended way to find better pricing on Chrysler 300 insurance in Nashville is to annually compare prices from providers in Tennessee. Rate comparisons can be done by following these steps.

  1. Spend a few minutes and learn about how companies set rates and the steps you can take to prevent high rates. Many rating criteria that drive up the price such as at-fault accidents and a bad credit rating can be improved by improving your driving habits or financial responsibility. Continue reading for tips to keep prices down and find available discounts that you may qualify for.
  2. Get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while independent agencies can provide prices for many different companies. Begin your rate comparison
  3. Compare the new rates to the premium of your current policy and see if there is a cheaper rate in Nashville. If you find a lower rate and make a switch, ensure there is no coverage lapse between policies.

A good tip to remember is that you’ll want to make sure you compare the same amount of coverage on each price quote and and to compare as many companies as you can. This guarantees an apples-to-apples comparison and the most accurate and complete price analysis.

It’s an obvious statement that car insurance companies don’t want you to compare rates. People who shop around annually will most likely move their business because there is a significant possibility of finding a lower-priced company. A survey found that consumers who compared rates annually saved on average $3,500 over four years compared to drivers who never compared other company’s rates.

If saving money on Chrysler 300 insurance in Nashville is your goal, then having a grasp of how to get rate quotes and compare cheaper coverage can save money and time.

The auto insurance companies shown below offer price comparisons in Tennessee. To find the best car insurance in Nashville, TN, we suggest you visit several of them in order to find the cheapest rates.

Chrysler 300 insurance analysis

The rate table displayed below outlines detailed analysis of rate quotes for Chrysler 300 models. Learning how auto insurance prices are calculated can be useful when making decisions when shopping around.

Chrysler 300 Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
300 Touring 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
300 Touring Plus 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
300 Touring AWD 4-Dr $156 $278 $288 $18 $86 $826 $69
300 S V6 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
300 Touring Signature 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
300 Touring Executive 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
300 Touring Signature AWD 4-Dr $174 $320 $288 $18 $86 $886 $74
300 Limited 4-Dr Sedan $174 $320 $288 $18 $86 $886 $74
300 C 4-Dr Sedan $174 $320 $288 $18 $86 $886 $74
300 S V8 4-Dr Sedan $174 $320 $288 $18 $86 $886 $74
300 Limited AWD 4-Dr $174 $320 $288 $18 $86 $886 $74
300 C AWD 4-Dr $174 $320 $288 $18 $86 $886 $74
300 SRT-8 4-Dr Sedan $174 $320 $288 $18 $86 $886 $74
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate quotes do not factor in your specific Nashville location which can revise rates significantly.

Chrysler 300 liability-only versus full coverage

The example below illustrates the comparison of Chrysler 300 auto insurance costs when comparing full coverage to state minimum liability only. The prices are based on no violations or accidents, $1,000 deductibles, single status, and no additional discounts are factored in.

When to drop comprehensive and collision coverage

There is no definitive formula for eliminating physical damage insurance, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s say your Chrysler 300 book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after you pay the deductible. If premium cost is more than $600 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not recommended. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not buy liability only.

Best reasons to buy auto insurance in Tennessee

Even though it’s not necessarily cheap to insure a Chrysler in Nashville, insurance serves a purpose in several ways.

First, almost all states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability protection in order to get the vehicle licensed. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.

Second, if you have a lien on your vehicle, it’s guaranteed your bank will have a requirement that you buy full coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the lender will be forced to insure your Chrysler for a lot more money and force you to pay a much higher amount than you were paying before.

Third, auto insurance protects not only your Chrysler 300 but also your assets. It will also cover many types of medical costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if someone files suit against you as the result of an accident. If your Chrysler gets damaged, collision and comprehensive coverages will pay to have it repaired.

The benefits of insuring your 300 definitely exceed the cost, especially if you ever need it. Unknowingly, the average driver is currently overpaying as much as $865 each year so you should quote rates at every renewal to make sure the price is not too high.

Insurance coverage considerations

Learning about specific coverages of your policy helps when choosing the right coverages for your vehicles. Insurance terms can be ambiguous and reading a policy is terribly boring. Listed below are the normal coverages offered by insurance companies.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since many Tennessee drivers have only the minimum liability required by law (Tennessee limits are 25/50/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like funeral costs, pain medications, hospital visits and chiropractic care. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not universally available and may carry a deductible

Comprehensive coverages

Comprehensive insurance pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like hail damage, fire damage, damage from a tornado or hurricane, a tree branch falling on your vehicle and falling objects. The most you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Auto liability insurance

This coverage will cover damage that occurs to a person or their property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/15 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and $15,000 of coverage for damaged property.

Liability coverage protects against claims like pain and suffering, loss of income, funeral expenses, repair costs for stationary objects and medical expenses. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as large an amount as possible. Tennessee requires drivers to carry at least 25/50/15 but drivers should carry higher limits.

The next chart shows why minimum state limits may not be enough coverage.

Collision insurance

Collision insurance pays for damage to your 300 caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like driving through your garage door, backing into a parked car, damaging your car on a curb, hitting a parking meter and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also bump up the deductible on your 300 to save money on collision insurance.