Finding economical coverage for a Toyota Camry hinges on a very complex rating algorithm that uses multiple factors such as how old the Camry is, your claims history, and your choice of physical damage deductibles. Drivers pay on average $962 a year for Camry insurance, but that figure is an estimation calculated using a 50-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.
The issue with using an average estimated rate is the likelihood you may not be 50 years old (or even male), you might be married instead of single, or maybe you just want different deductibles. Everone’s needs are different, and this illustrates why the only real way to find the cheapest rates for your Toyota is to do your own rate comparisons.
Vehicle trim level tends to impact the annual cost of coverage, so the rate you will pay to insure a Camry LE trim level will be $166 less than the cost to insure the higher-priced Camry Hybrid version, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in specific Nashville garaging location which can change premiums substantially.
Tennessee auto insurance companies
Insuring your vehicle with the right insurance company can be difficult considering how many choices drivers have in Tennessee. The ranking information below could help you decide which companies to look at comparing rates from.
These rankings are only made up of companies with a national presence, so companies without a large exposure will not be included in this list. If you’d like to compare prices from these companies and more, simply click here.
Top 10 Major Auto Insurance Companies Overall in Nashville
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Liability only or full coverage
Buying cheaper auto insurance should be important to the majority of vehicle owners, and one common way to save on the cost of insurance for a Toyota Camry is to only buy liability coverage. The information below shows the difference between annual premium costs with and without physical damage coverage. The premiums are based on no claims, a clean driving record, $500 deductibles, single marital status, and no discounts are applied to the premium.
If all age groups are averaged, comp and collision coverage costs $1,715 per year over and above liability coverage. Many people question if buying full coverage is a good investment. There is no set guideline of when to drop full coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
The information below highlights how deductible choice can change premium costs when researching cheap insurance for a Toyota Camry. The information is based on a married male driver, comp and collision included, and no discounts are applied.
The data above shows that a 30-year-old driver could lower rates by $264 a year by switching from a $100 deductible up to a $500 deductible, or save $400 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old, have the ability to save as much as $804 each year just by choosing larger deductibles.
When using a larger deductible, it is important to have emergency funds available to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
The importance of comparing Camry insurance rates
Nashville, TN auto insurance rates are determined by lots of factors that control the price you have to pay. Turning one year older, moving to a different location, or getting a few speeding tickets can cause premium changes that can make some companies cheaper than others. And not only may your rating factors change, but companies change prices as often as every quarter to adjust for unexpected claims or profits. Higher than normal claims may result in rate increases, while a lower level of claims can cause lower-priced Camry insurance rates.
The data below demonstrates which company has the cheapest car insurance in Nashville, TN for a 30-year-old female driver with a clear driving record, no claims, and good financial standing. If we estimate rates based on her current risk factors, Utica National quotes the lowest car insurance rates in Nashville at $867 a year. This is $461 less than the average price paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, USAA, and Penn National are the remaining top five cheapest Nashville, TN auto insurance companies.
The next chart shows rates after we give the driver from the first example a claim or two, bad credit, and a speeding ticket. Due to the fact that every insurance company uses their own formula for establishing rates, comparing quotes most likely will result in a significantly different list of the cheapest car insurance companies in Nashville as shown below.
Erie now has the cheapest rate in Nashville, TN with Nationwide, Allied, Westfield, and GEICO completing the list. This illustrates why it is critical to take the time to shop around to find affordable insurance rates for a Toyota Camry. Car insurance prices are impacted by many factors and change frequently, so the cheapest company two years ago may now be quite expensive.
The agents listed below can answer your questions and help you decide which coverage meets your needs best, since some drivers aren’t sure which coverage they need and prefer to have a professional recommendation when buying car insurance for a Camry. It can be time-consuming to find the cheapest rates, so using a licensed agent can give you comfort knowing you have adequate coverage if you have an accident or claim. To find an agent close to where you live, click the button link following the list or click here to compare price quotes now.
Wally Knox – State Farm Insurance Agent
5110 Delaware Ave – Nashville, TN 37209 – (615) 297-3527
Heather Farmer State Farm Insurance
6592 TN-100 Suite 2 – Nashville, TN 37205 – (615) 356-6503
Allstate Insurance: Fred J. Duke Jr.
171 Belle Forest Cir – Nashville, TN 37221 – (615) 662-1884
104 Woodmont Blvd – Nashville, TN 37205 – (615) 383-6700
How to find the cheapest car insurance for a Toyota Camry
It’s not impossible to find cheaper rates, and here are some of the better thrifty suggestions that can help Nashville drivers quote more affordable auto insurance.
- Increase your physical damage deductibles
- Being accident-free can lower rates significantly
- Do not get traffic citations
- Higher credit scores may earn you cheaper rates
- Lower rates by purchasing a safer vehicle
- Assess whether full coverage is needed
- Look for cheaper rates once a year by shopping around
The final tip is certainly important, as was noted in this write-up. Car insurance prices in Nashville fluctuate constantly, so drivers shouldn’t hesitate to switch to a new company if you find a cheaper price.
Staying with the same company for years is fine, but it isn’t a good idea if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a few minutes you could compare rates and find cheaper auto insurance for a Toyota Camry.