You have probably seen the captivating commercials from companies like Nationwide and Allstate that promise the cheapest price. So you should just choose the one with the best commercial, right?
It’s just not that simple, as there are many unknown factors such as how well you maintain your credit, whether you just need liability insurance, and the vehicle you drive. If you keep reading, we will teach you about the best ways to compare rates and will give you a good beginning to your search for cheaper coverage.
One of the more important factors that determine the price you pay for insurance is where you live. More densely populated places tend to pay more, whereas less populated areas have the enjoyment of a little cheaper coverage.
The next table lists the most expensive places in Tennessee for seniors to buy car insurance in. Nashville ranks #9 having an annual price of $1,201 for the average policyholder, which is approximately $100 per month.
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Price information shown is estimated as specific location information can influence insurance rates significantly.
The type of vehicle requiring coverage is one of the largest considerations that determines whether or not you find the most economical auto insurance for seniors. Vehicles with high performance, poor crash test ratings, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models.
The next table illustrates coverage premiums for a selection of the most affordable automobiles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$908|
|Ford Escape Limited 2WD||$927|
|Honda CR-V EX 4WD||$937|
|Ford F-150 STX Regular Cab 2WD||$998|
|Ford Explorer XLT 2WD||$1,017|
|Honda Civic DX 4-Dr Sedan||$1,057|
|Volkswagen Jetta 2.0T Station Wagon||$1,064|
|Chevrolet Malibu Hybrid||$1,075|
|Toyota RAV4 Limited 2WD||$1,080|
|Chevrolet Impala LT||$1,075|
|Dodge Grand Caravan SXT||$1,097|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,106|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,108|
|Ford Edge Sport 2WD||$1,132|
|Toyota Camry SE||$1,139|
|Hyundai Elantra SE 4-Dr Sedan||$1,132|
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Data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Premium amounts do not factor in specific zip code location which can change coverage rates considerably.
Looking at the numbers, we can expect vehicles like the Honda Accord, Ford Escape, Honda CR-V, Ford F-150, and Toyota Prius should be a few of the cheapest vehicles to insure for senior citizens.
Buying coverage from the highest-rated auto insurance company can be difficult considering how many choices there are in Nashville. The company ratings shown below may help you pick which insurers you want to consider when trying to find cheaper insurance for seniors. The rankings below only include the companies with a significant amount of written premium nationwide, so companies that focus mainly on Tennessee business are not included in this list.
Top 10 Major Car Insurance Companies in Nashville Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Esurance – A+
- Progressive – A+
- Titan Insurance – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Major Car Insurance Companies Overall in Nashville
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Get discounts on Nashville insurance rates
Insurance companies that provide policies for seniors may have discounts that could reduce prices by as much as 25% or more if you are eligible for them. Large insurance companies and a summarized list of policyholder discounts are shown below.
- State Farm includes discounts for multiple policy, anti-theft, good driver, good student, multiple autos, and Drive Safe & Save.
- GEICO has savings for five-year accident-free, anti-theft, daytime running lights, military active duty, anti-lock brakes, and multi-policy.
- SAFECO offers discounts for anti-theft, safe driver, teen safe driver, anti-lock brakes, and drive less.
- Farmers Insurance offers premium reductions for early shopping, teen driver, mature driver, youthful driver, multi-car, and switch companies.
- AAA may include discounts for pay-in-full, education and occupation, anti-theft, good student, and multi-car.
- USAA has discounts for family discount, loyalty savings, multi-vehicle, defensive driver, and good student.
The chart below illustrates the difference between insurance costs with and without discounts applied to the premium. The premiums assume a male driver, no claims or driving citations, Tennessee state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, claim-free, multiple policy, safe-driver, homeowner, and multiple vehicle discounts applied. When drivers take advantage of discounts, theamount saved on insurance for seniors is 30% or $490.
The importance of shopping around
Nashville insurance rates are impacted by many things that may substantially change the cost of coverage. Improving your credit score, buying a home instead of renting, or getting a ticket for running a stop sign may prompt premium changes resulting in some companies being more affordable than competitors. Not only may things change on your end, but insurance companies file new rates as often as every three months in order to remain profitable. An extended period of higher than normal claims may result in more expensive premiums, while a profitable period can cause more affordable Nashville car insurance rates.
For instance, the chart below demonstrates which company has the cheapest car insurance in Nashville, TN for a 45-year-old male driver with a clear driving record, no claims, and a good credit history. If we compare prices based on his current risk profile, Utica National might offer the most affordable car insurance rates in Nashville at $894 each year. This is $434 less than the average premium paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Penn National, and USAA are also included in the best Nashville, TN auto insurance companies.
In this example, we will give the driver from the above example a chargeable accident, poor credit, and a traffic citation. Due to the fact that every insurance company has their own unique process to set their prices, comparing prices could now result in a substantially altered list of companies as shown below.
Erie now has the best price on car insurance in Nashville with Nationwide, Allied, Westfield, and GEICO now rounding out the top five. This example illustrates why drivers need to compare lots of rates when trying to get the lowest auto insurance quotes for seniors. Rates consist of many factors and can decrease or increase without notice, so the most affordable company when you last compared rates may now not even be in the top five.
The agents below can help you decide which auto insurance coverages would be the best in your situation, as some people prefer to get some help when shopping for cheaper insurance for seniors. It’s not always easy to find the cheapest auto insurance company, so getting advice from a licensed Tennessee insurance agent can bring comfort knowing your coverage gives you enough coverage if you have a claim.
To locate a Nashville insurance agent nearest to you, click the button at the bottom.
Heather Farmer State Farm Insurance
6592 TN-100 Suite 2 – Nashville, TN 37205 – (615) 356-6503
Terry W Jones – State Farm Insurance Agent
545 Mainstream Dr Ste 104 – Nashville, TN 37228 – (615) 256-6066
MJC Insurance Group
1506 Church St Suite 2 – Nashville, TN 37203 – (615) 873-1988