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Average cost of car insurance in Tennessee for 2023
According to Bankate’s analysis of average premiums, a full coverage car insurance policy in Tennessee is $1,429 per year and minimum coverage is $371.
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What To Know First
According to data provided by Quadrant Information Services, the average cost of car insurance in Tennessee is $1,429 per year for full coverage and $371 for minimum coverage. This is far lower than the national average of $2,014 for full coverage and $622 for minimum coverage. Bankrate’s insurance editorial team, which includes three licensed agents, conducted an exhaustive study of Tennessee car insurance rates to provide our readers with a baseline as they shop for new coverage.
During our research, we learned that:
- Drivers in Memphis pay an average premium of $1,659 per year for full coverage, the highest of all the cities we analyzed.
- On average, Tennessee drivers convicted of a DUI pay 103 percent more for a full coverage policy than someone with a clean driving record.
- Drivers in Tennessee with poor credit scores pay nearly as much as those convicted of a DUI, with an average full coverage premium 93 percent higher than a driver with good credit.
On This Page
- How much is car insurance in Tennessee?
- Tennessee car insurance rates by city
- Average car insurance costs by age and gender in Tennessee
- How does driving record impact the cost of car insurance in Tennessee?
- Car insurance rates in Tennessee by credit score
- Tennessee car insurance rates by vehicle type
- How to save on car insurance in Tennessee
- Estimate your car insurance cost
- Frequently asked questions
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How much is car insurance in Tennessee?
Tennessee car insurance rates are based on a number of factors, including the insurance company you choose, the city you live in, your age and your driving record. For this reason, rates may vary greatly between drivers.
Fortunately, average car insurance rates in Tennessee are lower than the national average. For comparison, the average cost of car insurance in the United States is $2,014 per year for a full coverage policy and $622 per year for a minimum coverage policy.
Compared to the national average rate, the average Tennessee driver pays $585 less for full coverage insurance and $251 less for minimum coverage insurance.
Average minimum coverage premium in Tennessee | Average annual full coverage premium in Tennessee |
---|---|
$371 | $1,429 |
Tennessee car insurance rates by city
Most drivers know that car insurance rates vary by state, but the city you live in may also affect your premium. Car insurance may be more expensive in certain cities based on the number of uninsured drivers, crime rates, weather patterns and more. The table below highlights the average car insurance rates in five of Tennessee's largest cities.
Tennessee city | Average annual full coverage premium | Percentage change from Tennessee average annual full coverage premium |
---|---|---|
Chattanooga | $1,358 | -5% |
Clarksville | $1,355 | -5% |
Knoxville | $1,389 | -3% |
Memphis | $1,659 | +16% |
Nashville | $1,412 | -1% |
Average car insurance costs by age and gender in Tennessee
Some states restrict car insurance companies from using your age and gender to determine your car insurance premium, but not Tennessee. The average car insurance cost in Tennessee is generally higher the younger you are. This is because younger drivers have less experience behind the wheel, and are seen as riskier to insure than older drivers. Additionally, men are more likely to engage in risky driving behaviors, like speeding, so they tend to pay more for car insurance than women.
Age | Average monthly full coverage premium in Tennessee | Average annual full coverage premium in Tennessee |
---|---|---|
Age 16* | $287 | $3,442 |
Age 18 | $424 | $5,087 |
Age 20 | $295 | $3,538 |
Age 25 | $160 | $1,925 |
Age 30 | $129 | $1,552 |
Age 40 | $120 | $1,440 |
Age 50 | $112 | $1,338 |
Age 60 | $106 | $1,269 |
Age 70 | $123 | $1,470 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age | Average monthly full coverage premium in Tennessee | Average annual full coverage premium in Tennessee |
---|---|---|
Age 16* | $252 | $3,026 |
Age 18 | $353 | $4,238 |
Age 20 | $248 | $2,972 |
Age 25 | $149 | $1,786 |
Age 30 | $126 | $1,506 |
Age 40 | $118 | $1,418 |
Age 50 | $110 | $1,317 |
Age 60 | $105 | $1,257 |
Age 70 | $121 | $1,448 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Cost considerations for young drivers in Tennessee
Teens and young drivers pay some of the highest car insurance premiums, partly due to their tendency to exhibit risky driving behaviors. One strategy parents might employ to help bring these premiums down is to list their young driver on their policy. However, your car insurance company may require that your young adult child lives in your household for this to be an option. You may want to reach out to your insurance agent to discuss if this tactic could be right for you and your family.
Age | Average annual premium for drivers on their parents' policy in Tennessee | Average annual premium for drivers on their own policy in Tennessee |
---|---|---|
Age 16 | $3,234 | N/A* |
Age 17 | $3,048 | N/A* |
Age 18 | $2,804 | $4,663 |
Age 19 | $2,500 | $3,638 |
Age 20 | $2,332 | $3,255 |
*16- and 17-year-old drivers must be on their parents’ policy.
How does driving record impact the cost of car insurance in Tennessee?
One of the biggest factors that will impact your car insurance premium is your driving record. Even a single speeding ticket or a minor accident might cause a major increase to your car insurance premium. See how certain traffic violations could impact your car insurance rate in Tennessee in the table below.
Driving incident | Average annual full coverage premium in Tennessee | Percentage increase from Tennessee average annual full coverage premium |
---|---|---|
Clean driving record | $1,429 | 0% |
Speeding ticket | $1,682 | 18% |
Accident | $2,005 | 40% |
DUI | $2,908 | 103% |
Car insurance rates in Tennessee by credit score
In Tennessee, car insurance companies may use your credit-based insurance score as a rating factor when calculating your rates. Those with poor and average credit usually pay more for insurance than drivers with good and excellent credit.
Credit tier | Average annual full coverage premium in Tennessee | Percentage change from Tennessee average annual full coverage premium |
---|---|---|
Poor | $2,761 | 93% |
Average | $1,601 | 12% |
Good | $1,429 | 0% |
Excellent | $1,231 | -14% |
Tennessee car insurance rates by vehicle type
Your vehicle’s make and model may also impact your car insurance rates. Most of the time, luxury vehicles, sports cars and large trucks cost more to insure. There are, however, exceptions to this rule. For instance, some standard economy sedans may have relatively high rates because they are stolen more often, simply because there are more of them on the road. For this reason, if you're considering a new vehicle, it may be a good idea to request quotes for each type of vehicle you’re thinking about to find the cheapest car insurance.
Vehicle | Average annual full coverage premium in Tennessee |
---|---|
Toyota Camry | $1,429 |
Ford F-150 | $1,242 |
Honda Odyssey | $1,238 |
BMW 330i | $1,802 |
Toyota Prius | $1,493 |
How to save on car insurance in Tennessee
There are a number of ways you may be able to save money on car insurance in Tennessee. Here are some strategies you might consider:
- Get multiple quotes: Before you settle on an insurance company, get a few quotes from different providers and compare them to see which carrier can offer the lowest rate for the type and amount of coverage you need.
- Look for discounts: When you are comparing insurance companies, look for providers that offer multiple discounts you can take advantage of. The more discounts you qualify for, the more money you might save.
- Pay in full: Most insurance companies will lower your car insurance rate if you pay the annual premium upfront and in full, rather than in 12 or 6 monthly installments.
- Maintain a clean driving record: As demonstrated by the tables above, a clean driving record may be one of the best strategies for keeping your rates low. Avoiding tickets and accidents could help keep your rates steady.
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