Who Has the Cheapest Auto Insurance for a Learners Permit in Nashville?

Wouldn’t it be awesome if we could just tell you that one special company that has the cheapest car insurance rates for a learners permit? Regrettably, it’s not quite that easy, as there are a whole bunch of unknowns such as your age, if you want full coverage, how high your deductibles should be, and any tickets or violations. This article covers the best ways to save on auto insurance and will hopefully give the reader some help in finding cheaper rates.

The make and model of vehicle you are insuring is a significant factor when consumers are trying to find the most affordable auto insurance for a learners permit. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models. The next list estimates insurance prices for the most budget-friendly vehicles to insure.

Cheapest Vehicles to Insure in Nashville, TN
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 4WD $3,730
Ford Escape Limited 4WD $3,963
Toyota Prius $4,000
Ford Explorer Eddie Bauer 2WD $4,147
Ford Edge SEL 2WD $4,345
Toyota Tacoma 2WD $4,354
Ford Focus SE 4-Dr Sedan $4,345
Dodge Grand Caravan Hero $4,381
Chevrolet Equinox LS AWD $4,387
Volkswagen Jetta LE 4-Dr Sedan $4,381
Chevrolet Malibu Hybrid $4,390
Toyota RAV4 Limited 2WD $4,381
Chevrolet Impala LT $4,389
Chevrolet Silverado LS Regular Cab 2WD $4,474
Honda Odyssey EX-L $4,615
Hyundai Elantra GLS 4-Dr Sedan $4,621
Toyota Corolla XLE $4,615
Toyota Camry XLE $4,620
Jeep Grand Cherokee Limited 2WD $4,651
Ford F-150 Lariat Crew Cab Platinum 4WD $4,688
Dodge Ram 3500 Crew Cab ST 2WD $4,724
Hyundai Sonata GLS 4-Dr Sedan $4,744
Kia Optima LX $4,749
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Price data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in specific garaging location which can increase or decrease premium rates significantly.

Based upon these rates, we can tell that cars like the Honda CR-V, Ford Escape, and Toyota Prius should be a few of the cheapest vehicles to insure for new drivers. Car insurance rates will be more costly because there is more liability risk for a learners permit, but generally speaking those models will have the lowest insurance prices possible.

One of the more important criteria that are used to help calculate the amount you pay for auto insurance is where you call home. Areas with a lot of weather claims or more people will most likely pay more, whereas areas with less congestion get the luxury of paying less.

The following table sorts the most costly cities in Tennessee for a learners permit to buy car insurance in. Nashville is ranked at #9 with a yearly premium of $1,201 for coverage, which is around $100 monthly.

How much does auto insurance cost in Nashville?
Rank City Premium Per Year
1 Memphis $1,505
2 Bartlett $1,377
3 Collierville $1,349
4 Germantown $1,320
5 Jackson $1,266
6 Oak Ridge $1,247
7 Knoxville $1,230
8 Columbia $1,226
9 Nashville $1,201
10 La Vergne $1,197
11 Clarksville $1,194
12 Smyrna $1,183
13 Cookeville $1,171
14 Morristown $1,171
15 Brentwood $1,168
16 Maryville $1,160
17 Spring Hill $1,157
18 Murfreesboro $1,148
19 Hendersonville $1,136
20 Gallatin $1,133
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Information shown are estimated as the specific geographic location can revise premium rates considerably.

Rate comparison of full coverage and liability-only

Paying a lower price for car insurance is important to most vehicle owners, and one of the fastest ways to find cheap insurance for a learners permit is to not pay for full coverage. The illustration below illustrates the comparison of car insurance rates with full coverage and liability only. The price estimates are based on no accidents, no driving violations, $1,000 deductibles, single status, and no other discounts are factored in.

If the expense is averaged for all age categories, full coverage costs an extra $1,217 per year over liability only. Lot’s of drivers question when is the right time to remove full coverage. There is no exact rule of when to stop paying for physical damage coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your vehicle’s book value is $8,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $7,500 after paying your deductible. If premium cost is more than $750 a year for comprehensive and collision coverage, then it could be time to drop full coverage.

There are a few situations where dropping physical damage coverage is not in your best interest. If you still owe a portion of the original loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage.

The diagram below illustrates how your deductible choice can change insurance costs when searching for cheap insurance for a learners permit. The premiums are based on a single female driver, comprehensive and collision coverage, and no other discounts are factored in.

A 40-year-old driver could save $274 a year by switching from a $100 deductible to a $500 deductible, or save $414 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old, could shave $696 or more by choosing a larger deductible amount.

When increasing deductibles, it is important to have enough funds in savings to be able to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Why you should be comparing rates

Nashville car insurance rates are based on many factors which can significantly increase or decrease your annual premium. Improving your credit score, buying a home instead of renting, or having an accident can trigger changes in premium resulting in some rates now being more affordable than before.

In addition, car insurance companies amend pricing as often as every quarter to adjust for heavy claims or excess profits. Significantly higher losses may cause price increases, while profitable underwriting can result in more affordable Nashville car insurance rates.

As an example, the data below compares the cheapest car insurance in Nashville, TN for a 30-year-old female driver with no accidents, a clean driving record, and a good credit rating. When quoting prices based on her current rating profile, Utica National has the most affordable car insurance rates in Nashville at $871 each year. This is $457 less than the average rate paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA are the remaining cheapest Nashville, TN auto insurance companies.

Now let’s give the driver from the first set of rates a chargeable claim, slightly worse credit, and a traffic ticket or two. Due to the fact that each insurance company has their own process to set their prices, comparing insurance quotes will most likely result in a substantially altered list of affordable companies as shown below.

Erie now has the lowest price on auto insurance in Nashville with Nationwide, Allied, Westfield, and GEICO also being competitive. This demonstrates why it is important to shop around when trying to find the best insurance rates for a learners permit. Insurance prices can be determined by many factors and can increase or decrease at any time, so the cheapest company the last time you shopped your coverage around may now be wasting a lot of money.