It’s a known fact that car insurance companies don’t want you to look for cheaper rates. Drivers who compare price quotes are likely to switch auto insurance companies because there is a high probability of finding lower rate quotes. A recent survey discovered that consumers who compared rates once a year saved about $3,500 over four years compared to policyholders who never shopped around for cheaper prices.
If saving the most money on car insurance is your ultimate goal, then having some knowledge of how to shop for insurance coverage can help simplify the process.
If your goal is the lowest price, then the best way to find cheaper auto insurance rates in Nashville is to compare prices once a year from different companies who sell auto insurance in Tennessee. Rates can be compared by following these steps.
First, try to learn a little about how your policy works and the things you can change to lower rates. Many things that cause rate increases like careless driving and an imperfect credit rating can be rectified by making minor changes to your lifestyle.
Second, quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO and State Farm, while independent agents can provide price quotes for many different companies.
Third, compare the new rates to your existing rates to determine if you can save on SLS AMG insurance in Nashville. If you find a lower rate and switch companies, make sure there is no lapse in coverage.
Fourth, notify your company or agent to cancel your current auto insurance policy. Submit the required down payment along with the signed application to the new company. As soon as you can, put the certificate verifying coverage somewhere easily accessible.
The key thing to know about shopping around is to compare the same level of coverage on every price quote and and to compare as many carriers as you can. This ensures an accurate price comparison and a thorough selection of prices.
The are a couple different ways to compare quotes from different companies. The easiest way by far to compare rates involves getting comparison quotes online.
Doing price comparisons online is so simple that it takes the place of having to spend your day driving to insurance agencies in your area. The internet makes this unnecessary unless you’re the type of person who wants the professional guidance of a local agency. You can, however, comparison shop your insurance online but purchase the actual policy in an agency. When comparing insurance rates, know that getting more free quotes will improve the odds of getting more affordable rates. Some regional insurers cannot provide price estimates online, so you need to compare price quotes from them as well.
The following companies have been selected to offer free quotes in Nashville, TN. To buy the cheapest auto insurance in Tennessee, we recommend you visit as many as you can to get the most affordable price.
Auto insurance is not optional in Tennessee
Despite the high insurance cost for a Mercedes-Benz SLS AMG in Nashville, buying auto insurance is most likely required but also gives you several important benefits.
- Most states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability protection if you don’t want to risk a ticket. 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.
- If your Mercedes-Benz has a loan, almost every bank will have a requirement that you have comprehensive coverage to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your Mercedes-Benz at a much higher premium rate and force you to pay for the expensive policy.
- Auto insurance preserves your Mercedes-Benz SLS AMG and your assets. Insurance will also pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also covers legal expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your car greatly outweigh the cost, specifically if you ever have a liability claim. According to a recent study, the average American driver is currently overpaying as much as $750 every year so you should quote rates each time the policy renews to ensure rates are competitive.
Nashville Insurance Premiums are Influenced by These Factors
Multiple criteria are considered when quoting car insurance. Some are obvious such as your driving history, but other criteria are less obvious such as your credit history and annual miles driven.
Youthful drivers cost more – Older insureds are viewed as being more responsible, tend to file fewer claims, and get fewer tickets. Teen drivers are known to be less responsible when behind the wheel so they pay higher insurance rates.
Liability insurance safeguards assets – Liability coverage kicks in if a court rules you are at fault for damages from an accident. Liability insurance provides you with a defense in court to attempt to prove you were not liable. Liability is cheap when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
Single vs. married – Getting married can actually save you money when shopping for insurance. Having a significant other may mean you are more financially stable and it’s proven that drivers who are married are more cautious.
Affects performance affects auto insurance rates – The performance level of the vehicle you drive makes a significant difference in your premium level. Lower cost passenger vehicles normally have pretty low rates, but that’s not the only thing that factors into the final price.
Annual miles is a factor – The higher the mileage driven each year the more you’ll pay to insure it. A lot of companies rate vehicles based upon how the vehicle is primarily used. Cars that sit idle most of the time receive lower rates than vehicles that have high annual mileage. Incorrect rating for your SLS AMG is throwing money out the window. Make sure your declarations sheet reflects the correct usage, because it can save money.
Prices impacted by your city – Residing in a rural area can be a good thing when insuring your vehicles. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft. Drivers who live in large Tennessee cities tend to have more auto accidents and much longer commute distances. Spending more time driving translates into higher accident risk.
Only buy what you need – Insurance companies have many optional add-on coverages you can purchase if you aren’t diligent. Insurance for rental car reimbursement, towing, and extra life insurance coverage may not be needed and are just wasting money. They may seem good when deciding what coverages you need, but if they’re wasting money think about removing them and cutting costs.
Good credit equals lower prices – Credit rating can be a huge factor in determining what you pay for insurance. If your credit is not that good, you may save money insuring your Mercedes-Benz SLS AMG if you improve your credit rating. Consumers who have very high credit ratings tend to be more responsible as compared to drivers with lower credit ratings.
When to get professional advice
Keep in mind that when it comes to choosing proper insurance coverage for your vehicles, there really is no single plan that fits everyone. Everyone’s needs are different.
For example, these questions might help in determining if your situation would benefit from professional advice.
- Is my teen driver covered when they drive my company car?
- Does my car insurance cover rental cars?
- What is PIP insurance?
- Will my rates increase for filing one claim?
- Should I get collision insurance on every vehicle?
- Can I use my car for my catering business?
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form.
Frequent quotes can save
Throughout this article, we presented some good ideas how to reduce Mercedes-Benz SLS AMG insurance prices online in Nashville. It’s most important to understand that the more you quote Nashville auto insurance, the better likelihood of getting affordable Nashville auto insurance quotes. Consumers could even find that the best prices are with a smaller regional carrier.
People leave their current company for a variety of reasons including extreme rates for teen drivers, high rates after DUI convictions, lack of trust in their agent or unfair underwriting practices. Whatever your reason, choosing a new insurance company is pretty simple and you could end up saving a buck or two.
When trying to cut insurance costs, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed liability coverage limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.
Much more information about auto insurance in Tennessee is located at these links:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Anti-Lock Brake FAQ (iihs.org)
- Older Drivers FAQ (iihs.org)
- Collision Coverage (Liberty Mutual)
- Get the Right Protection (InsureUonline.org)