Did a good deal turn into an overpriced insurance policy? Believe me when I say there are many people just like you.
A recent insurance study revealed that about 70% of customers have stayed with the same insurance company for over three years, and virtually 40% of consumers have never quoted insurance rates at all. Tennessee insurance shoppers could save up to 35% a year just by getting comparison quotes, but they don't want to take the time to go online and compare rates.
Lots of insurance companies contend for your hard-earned dollar, so it can be very hard to choose a company to discover the definitive lowest rate on insurance.
You should make it a habit to compare premium rates as often as possible since prices change frequently. If you had the best rates on insurance two years ago you will most likely find a better premium rate today. Ignore everything you know about insurance because we're going to demonstrate one of the best ways to reduce your cost while improving coverage.
Best companies for low-cost rate quotes in Tennessee
The companies in the list below provide free quotes in Tennessee. If multiple companies are listed, it's a good idea that you click on several of them to find the most affordable auto insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Extended Cab 2WD||$748||$374||$62|
|Chevrolet Silverado LTZ Crew Cab 4WD||$954||$477||$80|
|Dodge Ram Quad Cab SLT 4WD||$994||$497||$83|
|Ford Escape Limited 4WD||$704||$352||$59|
|Ford Explorer Limited 2WD||$1,176||$588||$98|
|Ford F-150 Lariat Super Cab 4WD||$918||$459||$77|
|Ford Focus SEL 4-Dr Sedan||$940||$470||$78|
|Honda Accord LX 4-Dr Sedan||$770||$385||$64|
|Honda CR-V LX 2WD||$644||$322||$54|
|Honda Civic EX 4-Dr Sedan||$878||$439||$73|
|Hyundai Sonata GLS 4-Dr Sedan||$976||$488||$81|
|Kia Optima SX||$970||$485||$81|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,060||$530||$88|
|Toyota Camry LE||$1,124||$562||$94|
|Toyota Corolla S||$1,026||$513||$86|
|Get Your Own Custom Quote Go|
Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rates do not factor in the specific area where the vehicle is garaged which can influence coverage rates significantly.
The chart below demonstrates how choosing different deductibles and can influence Chevrolet Malibu insurance rates for different ages of insureds. The prices are based on a single male driver, full coverage, and no discounts are factored in.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
Rate comparison of males versus females
The chart below shows the comparison of auto insurance rates for male and female drivers in Knoxville. The premiums assume no accidents, no driving violations, full coverage, $500 deductibles, marital status is single, and no discounts are taken into consideration on a Ford Fusion SEL.
Ford Fusion rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
You have control over your car insurance prices
An important part of buying insurance is that you know the different types of things that help calculate car insurance rates. If you understand what controls the rates you pay, this allows you to make good choices that may reward you with big savings.
Shown below are some of the factors used by companies to determine prices.
- Discounts for married couples - Having a wife or husband can get you a discount on your car insurance bill. Having a significant other may mean you are more financially stable and insurance companies reward insureds because drivers who are married file infrequent claims.
- Lower prices with alarm systems - Choosing a vehicle that has a built-in theft deterrent system can save you a little every year. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all help stop your vehicle from being stolen.
- Cheaper rates by consolidating - Most larger car insurance companies give better rates to customers who buy several policies from them. It's known as a multi-policy discount. This can amount to 10 percent or more. Even though this discount sounds good, it's in your best interest to get quotes from other companies to guarantee you are still saving the most. You may still be able to save even more by insuring with multiple companies.
- Where you live plays a part - Having an address in less populated areas of the country has definite advantages when shopping for auto insurance. Less people living in that area means reduced accidents. Drivers in populated Tennessee areas tend to have more road rage incidents and a longer drive to work. The longer drive time means more chance of being in an accident.
- Too many policy claims will drive prices up - If you file claims often, you can look forward to higher rates. Companies in Tennessee give the lowest premiums to people who are claim-free. Your insurance policy is intended for more catestrophic claims.
- Gender is a factor - Over the last 50 years, statistics have shown that women are safer drivers than men. It does not mean females are better at driving than males. Men and women are responsible for fender benders at about the same rate, but the male of the species tend to have more serious accidents. In addition to higher claims, males also receive more major tickets such as DWI and reckless driving. Male teenagers have the highest risk to insure and are penalized with high car insurance rates.
- Raise physical damage deductibles and save - The deductibles you choose define the amount you are required to spend if you file a covered claim. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some coverage claims are colliding with a stationary object, hail damage, and having a roll-over accident. The higher the amount you have to pay, the lower your rates will be.
Insurance policy discounts you can't miss
Car insurance can cost a lot, but there may be some discounts that may help make it more affordable. Certain reductions will be credited at quote time, but some discounts are required to be specifically requested before they will apply.
- Federal Government Employee - Active or former government employment could qualify for a slight premium decrease depending on your insurance provider.
- Discount for New Cars - Buying a new car instead of a used car can be considerably cheaper because newer vehicles have to meet stringent safety requirements.
- Defensive Driver - Taking part in a defensive driver course could possibly earn you a 5% discount and easily recoup the cost of the course.
- Memberships - Being in certain professional organizations may earn a discount on your policy.
- Home Ownership Discount - Being a homeowner can save you money because it shows financial diligence.
- Mature Driver Discount - Drivers that qualify as senior citizens may qualify for a discount up to 10%.
- Accident-Free Discounts - Knoxville drivers who stay claim-free can save substantially in comparison to insureds who have frequent claims or accidents.
- Good Student Discount - Excelling in school could provide a savings of up to 20% or more. This discount can apply up until you turn 25.
- E-sign - A few larger online companies will discount your bill up to fifty bucks for signing up over the internet.
As a footnote on discounts, most discount credits are not given the the whole policy. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like adding up those discounts means a free policy, companies wouldn't make money that way.
To see providers that offer multiple discounts in Knoxville, click here to view.
Buying auto insurance from Knoxville insurance agents
Many drivers prefer to sit down and talk to an agent and we recommend doing that A nice benefit of comparing rates online is that you can obtain the lowest rates and also buy local. Buying from local insurance agents is important particularly in Knoxville.
To find an agent, once you fill out this simple form, your coverage information is sent to agents in your area who will give you bids and help you find cheaper coverage. You don't have to leave your house because prices are sent immediately to you. You can find the lowest rates without requiring a lot of work. If you wish to get a comparison quote from a specific auto insurance provider, don't hesitate to find their quoting web page and fill out the quote form the provide.
Two types of car insurance agents
When finding a local agent, it can be helpful to understand the types of insurance agents and how they can service your needs differently. Auto insurance policy providers can be described as either independent or exclusive depending on the company they work for.
Independent Auto Insurance Agencies or Brokers
Independent insurance agents are normally appointed by many insurers so they can insure your vehicles through lots of different companies and get the cheapest rates. To transfer your coverage to a different company, your agent can switch companies and the insured can keep the same agent. If you need cheaper auto insurance rates, you need to compare prices from a few independent agents to get the most accurate price comparison.
The following is a partial list of independent insurance agents in Knoxville that can possibly get you price quote information.
Exclusive Auto Insurance Agents
Exclusive agencies write business for a single company and some examples include Farmers Insurance and State Farm. Exclusive agents cannot provide rate quotes from other companies so it's a take it or leave it situation. Exclusive agencies are usually quite knowledgeable on their products and sales techniques which helps them compete with independent agents.
Shown below is a list of exclusive insurance agencies in Knoxville that are able to give rate quotes.
Finding the right insurance agent should include more criteria than just a cheap price. These are valid questions to ask:
- Is working in the agency their full-time job?
- Are there any extra charges for paying monthly?
- How long has their agency been open in Knoxville?
- Is the agent properly licensed in Tennessee?
- Are they able to provide referrals?
- Do they have cheaper tiers of coverage?
- How does the company pay claims for a total loss?
- Does the company have a local claim office in Knoxville?
Auto insurance can get complicated
Keep in mind that when it comes to choosing insurance from an agent or online, there isn't really a best way to insure your cars. Your needs are unique to you.
For example, these questions can aid in determining if your insurance needs might need professional guidance.
- When should I drop full coverage on my vehicle?
- Do I have ACV or replacement cost coverage?
- Is my vehicle covered by my employer's policy when using it for work?
- What can I do if my company denied a claim?
- Can I drive in Mexico and have coverage?
- Do I need replacement cost coverage on my vehicle?
- What is an umbrella policy?
If you don't know the answers to these questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form.
A conclusion for your car insurance search
You just learned some good ideas how to reduce car insurance premium rates online in Knoxville. It's most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. Consumers may even find the lowest premium rates are with a company that doesn't do a lot of advertising.
As you shop your coverage around, make sure you don't buy poor coverage just to save money. Too many times, someone dropped uninsured motorist or liability limits and learned later they didn't purchase enough coverage. Your strategy should be to buy a smart amount of coverage at an affordable rate, but do not skimp to save money.
Insureds change insurance companies for a variety of reasons including an unsatisfactory settlement offer, extreme rates for teen drivers, unfair underwriting practices and lack of trust in their agent. Regardless of your reason, choosing a new insurance company is less work than it seems.
Additional detailed information can be found in the articles below:
- Auto Insurance 101 (About.com)
- Who Has Cheap Auto Insurance for State Employees in Tennessee? (FAQ)
- Who Has the Cheapest Tennessee Car Insurance Quotes for Uber Drivers? (FAQ)
- How Much are Car Insurance Quotes for 17 Year Olds in Tennessee? (FAQ)
- What Car Insurance is Cheapest for Felons in Tennessee? (FAQ)
- What Car Insurance is Cheapest for Handicapped Drivers in Tennessee? (FAQ)
- Comprehensive Coverage (Liberty Mutual)
- Credit Impacts Car Insurance Rates (State Farm)
- Understanding Rental Car Insurance (Insurance Information Institute)