Establishing which companies quote the best insurance rates for high risk drivers will require a little more effort in order to find a policy that fits your budget. Each company uses a different method to set policy rates, so we’ll go over the most affordable insurance companies in Tennessee.
It’s important to know that Nashville, TN insurance rates are calculated based on many things that will increase or decrease the cost of a policy. Turning one year older, buying a different vehicle, or getting a couple of tickets may generate price changes resulting in some companies being more affordable than others.
Find Cheaper Auto Insurance for Risky Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $744 |
| 2 | Cincinnati Insurance | $858 |
| 3 | Auto-Owners | $861 |
| 4 | Penn National | $935 |
| 5 | USAA | $947 |
| 6 | Tennessee Farmers | $961 |
| 7 | Erie | $967 |
| 8 | Nationwide | $1,002 |
| 9 | Allied | $1,018 |
| 10 | Westfield | $1,079 |
| 11 | GEICO | $1,122 |
| 12 | Travelers | $1,177 |
| 13 | Progressive | $1,178 |
| 14 | Shelter | $1,199 |
| 15 | State Farm | $1,201 |
| 16 | Direct General | $1,201 |
| 17 | State Auto | $1,241 |
| 18 | The Hartford | $1,258 |
| 19 | Chubb | $1,277 |
| 20 | 21st Century | $1,313 |
| Find Cheaper Rates Go | ||
Utica National quotes some of the lowest car insurance rates in Nashville at around $744 annually. Cincinnati Insurance, Auto-Owners, Penn National, and USAA would also make the list of some of the cheapest Nashville, TN auto insurance companies.
As shown in the table above, if you have coverage with Auto-Owners and switched to Utica National, you may see an annual premium reduction of about $117. Customers with Penn National could save as much as $191 a year, and USAA customers might realize rate reductions of up to $203 a year.
To find the cheapest rates for your vehicle, click here to get a free quote or click several companies below for low rates.
These policy prices are averages for all insureds and vehicles and and are not figured with an exact vehicle garaging location for high risk drivers. So the car insurance company that can offer the best rates 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 from many companies using your own specific driver information and vehicle.
The make and model of vehicle that needs insurance is probably the largest consideration that determines whether or not you find cheap auto insurance for high risk drivers. Vehicles with lower acceleration and performance, advanced safety features, or a track record of few liability claims will cost less to insure than high performance models.
The information below showcases auto insurance premiums for a number of the more affordable vehicles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $3,647 |
| Honda Accord LX 4-Dr Sedan | $3,687 |
| Ford Escape Limited 2WD | $3,734 |
| Toyota Prius | $3,811 |
| Hyundai Elantra SE Touring Station Wagon | $3,889 |
| Volkswagen Jetta 2.0T Station Wagon | $4,002 |
| Dodge Grand Caravan SE | $4,004 |
| Toyota Tacoma Double Cab 4WD | $4,195 |
| Chevrolet Equinox LS AWD | $4,200 |
| Ford Explorer Limited 2WD | $4,235 |
| Honda Odyssey EX W/Rear Entertainment | $4,278 |
| Chevrolet Impala LS | $4,316 |
| Chevrolet Malibu Hybrid | $4,321 |
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Above prices assume single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Table data does not factor in garaging location in Nashville, TN which can increase or decrease price quotes considerably.
Based upon the rates shown, you can expect cars like the Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are going to be the most affordable vehicles to insure for high risk drivers. Rates will be more costly because of the fact that there is more claim risk for high risk drivers, but overall those particular vehicles will have the cheapest rates compared to other types of vehicles.
One of the more important considerations that determine car insurance rates is where your residence is in Nashville. Areas with more people or higher crime rates tend to have more expensive car insurance rates, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The table below rates the most expensive cities in Tennessee for high risk drivers to purchase auto insurance in. Nashville is ranked at #7 with an annual cost of $1,201 for the average insurance policy, which is about $100 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Memphis | $1,460 |
| 2 | Bartlett | $1,419 |
| 3 | Germantown | $1,360 |
| 4 | Collierville | $1,349 |
| 5 | Jackson | $1,305 |
| 6 | Oak Ridge | $1,210 |
| 7 | Nashville | $1,201 |
| 8 | La Vergne | $1,197 |
| 9 | Maryville | $1,196 |
| 10 | Spring Hill | $1,193 |
| 11 | Columbia | $1,190 |
| 12 | Murfreesboro | $1,183 |
| 13 | Smyrna | $1,183 |
| 14 | Knoxville | $1,182 |
| 15 | Cookeville | $1,182 |
| 16 | Brentwood | $1,168 |
| 17 | Franklin | $1,164 |
| 18 | Morristown | $1,159 |
| 19 | Clarksville | $1,158 |
| 20 | Gallatin | $1,155 |
| Find Cheaper Insurance Go | ||
Price information shown is estimated as the specific area where the vehicle is garaged can alter rates substantially.
Ratings for Nashville insurance companies
Ending up with a good quality car insurance provider is hard considering how many choices there are in Nashville. The ranking information displayed below could help you select which car insurance providers to look at when trying to find the cheapest insurance for high risk drivers.
The rankings below include major nationwide insurance companies, so smaller companies will not be included in the list. To compare prices from these and other top-rated companies, simply click here.
Top 10 Major Auto Insurance Providers Overall in Nashville
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Discount Nashville auto insurance rates
Insurers that provide policies for high risk drivers may also provide discounts that can lower rates by as much as 35% or more if you meet specific criteria. The best insurance companies and a selection of discounts are included below.
- The Hartford discounts include bundle, defensive driver, vehicle fuel type, anti-theft, and air bag.
- American Family offers discounts including multi-vehicle, mySafetyValet, good driver, accident-free, defensive driver, and good student.
- Progressive policyholders can earn discounts including good student, multi-vehicle, continuous coverage, multi-policy, online quote discount, homeowner, and online signing.
- Travelers offers premium reductions for save driver, new car, good student, continuous insurance, driver training, and multi-car.
- Farmers Insurance has discounts for teen driver, homeowner, mature driver, bundle discounts, and good student.
- USAA has savings for multi-vehicle, military installation, good student, safe driver, driver training, loyalty savings, and family discount.
- Liberty Mutual offers discounts for preferred payment discount, new graduate, multi-policy, exclusive group savings, safety features, and newly retired.
The example below shows the comparison of premium costs with and without discounts applied. The premiums are based on a female driver, one violation and one accident, Tennessee state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with continuous coverage, homeowner, passive restraint, paperless filing, paid-in-full, and vehicle safety discounts applied. When taking advantage of discounts, theaverage yearly reduction on insurance for high risk drivers is 28% or $546.
Why you should compare rates
Nashville insurance rates are impacted by many factors that will increase or decrease the policy premium. Simply getting older, moving to a different location, or getting a few speeding tickets may generate price changes that can now make some companies cheaper in comparison to the competition. Also, companies file new Tennessee auto insurance rates at least once a year in order to be able to pay unexpected claims. Unexpectedly high claims may cause high rates, while better underwriting can result in more affordable Nashville car insurance rates.
As an example, the bar chart below shows the companies that have the cheapest car insurance in Nashville, TN for a 45-year-old female driver with no violations or accidents, and a decent credit rating. If we estimate prices based on her personal risk profile, Utica National quotes the most affordable car insurance rates in Nashville at $828 a year. This is $500 less than the average policy premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, USAA, and Tennessee Farmers are the remainder of the top five cheapest Nashville, TN auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a claim surcharge, bad credit, and a stop sign violation. Since every car insurance company uses their own formula for setting rates, comparing quotes could now result in a completely different list of affordable Nashville car insurance companies as shown below.
Erie now has the cheapest car insurance in Nashville with Nationwide, Allied, Westfield, and GEICO now rounding out the top five. This demonstrates why it is critical to perform a complete rate comparison to get the best insurance quotes for high risk drivers.
Car insurance prices can be altered by many different factors and can decrease or increase without notice, so the most economical company three years ago may now be quite expensive.
How to find more affordable auto insurance for high risk drivers
Lowering your rates is not difficult, and here are some of the better money-saving suggestions that can help Nashville drivers buy lower-cost coverage.
- Drive a car with a high safety rating
- Avoid getting tickets or violations
- Accident-free drivers may qualify for discounts
- Better credit scores save money
- Higher physical damage deductibles lower rates
- Compare rates regularly to ensure the best deal
That last tip is especially critical, as we hit on in the prior article. Car insurance prices in Nashville can change significantly in a year, so you should be ready to switch carriers if you can find a cheaper rate.
Staying with the same company for years is fine, but is isn’t recommended if your bullheadedness ends up costing you potentially thousands of dollars a year. In just a few minutes you could shop around to find cheaper car insurance for high risk drivers.
If you have questions and prefer to have some advice when comparing insurance rates for high risk drivers, the agents listed below are a good start to provide answers to your questions and help you determine which coverages are best.
To find a Nashville insurance agent close to you, click the button following the list or click here to compare prices now.
- Barbara Stewart – State Farm Insurance Agent
3055 Lebanon Pike #2103 – Nashville, TN 37214 – (615) 391-5300 - Spann Agency
710 Thompson Ln – Nashville, TN 37204 – (615) 383-8000 - Phill Pharr – State Farm Insurance Agent
5814 Nolensville Pike #108 – Nashville, TN 37211 – (615) 832-0897