Cheap Car Insurance Quotes for Drivers Under 21 in Tennessee

Wouldn’t this article be short if we could just tell you that one special company that has the lowest rates for drivers under 21? Unfortunately, it’s just not that easy, as there are a lot of unknown aspects like your gender, your choice of liability limits, and the level of deductible you choose. We will try to cover some of these criteria and hopefully give you enough understanding to have a good start to your coverage search.

The vehicle model to be insured is a significant factor when consumers are trying to find the cheapest car insurance for drivers under 21. Vehicles with economical engines, excellent safety ratings, or a low likelihood of having liability claims will cost substantially less to insure than high performance models. The next list ranks insurance prices for a handful of the most economical vehicles to buy coverage for.

Data rating is based on single female driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in specific location information which can modify premium rates greatly.

By looking at the data, you can expect cars like the Honda Accord, Honda CR-V, Ford Escape, Chevrolet Traverse, and Ford Edge should be the more affordable vehicles to insure for minors. Car insurance rates will tend to be more expensive just due to the fact that there is more claim risk for drivers under 21, but in general those particular vehicles will most likely have the cheapest rates that you are likely to find.

For Tennessee drivers, one of the factors that impact the amount you pay each year for auto insurance is your zip code. Areas that are more densely populated or have higher claim rates like Memphis, Collierville, and Jackson tend to have more expensive car insurance rates, whereas areas with less crime or weather claims can boast about having cheaper rates.

The table below lists the priciest cities in Tennessee for drivers under 21 to purchase car insurance in.

Rate quotes are approximated as the specific garaging location can modify insurance rates significantly.

Cost comparison with and without full coverage

Finding cheap car insurance for drivers under 21 in Tennessee is probably important to the majority of drivers, and one great way to save on the cost of insurance is to only buy liability insurance. The diagram below shows the difference between insurance prices with full phyical damage coverage and with liability coverage only. The costs are based on no violations or accidents, $100 deductibles, single status, and no discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 3177,879],[‘Age 30’, 1637,485],[‘Age 40’, 1635,451],[‘Age 50’, 1483,423],[‘Age 60’, 1429,415],[‘Age 70’, 1721,553]]);var options = {title: ‘Rate Comparison of Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Tennessee’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average all the age groups together, comp and collision coverage costs $1,847 per year more than just buying liability insurance. A very common question is if buying full coverage is a waste of money. There is no specific rule to delete physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s say your vehicle’s settlement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $9,000 after you pay the deductible. If premium cost is more than $900 annually for full coverage, then it may be the right time to buy liability only.

There are some conditions where buying only liability insurance is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Discounts on Tennessee auto insurance

Auto insurance companies that provide cheap car insurance for drivers under 21 in Tennessee may have rate discounts that may potentially lower prices by 25% or more if you meet specific criteria. A few popular companies and their possible discounts are:

• Progressive may have discounts that include online signing, online quote discount, good student, continuous coverage, multi-policy, and multi-vehicle.
• AAA discounts include pay-in-full, multi-car, AAA membership discount, anti-theft, good student, education and occupation, and good driver.
• Farmers Insurance has savings for early shopping, pay in full, switch companies, youthful driver, homeowner, and distant student.
• GEICO includes discounts for federal employee, anti-theft, seat belt use, air bags, defensive driver, and emergency military deployment.
• Esurance offers premium reductions for defensive driver, paid-in-full, good student, homeowner, renters, emergency road assistance, and multi-policy.
• SAFECO has discounts for anti-lock brakes, bundle discounts, multi-car, drive less, teen safe driver, teen safety rewards, and accident prevention training.
• State Farm offers discounts including good driver, multiple policy, defensive driving training, Steer Clear safe driver discount, passive restraint, and multiple autos.

The chart below shows the comparison of yearly insurance costs with and without discounts applied to the policy premium. The rate quotes are based on a female driver, no claims, a clean driving record, Tennessee state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, passive restraint, paid-in-full, anti-theft, continuous coverage, and vehicle safety discounts applied. When discounts are applied, the average savings per year on insurance for drivers under 21 is 21% or $330.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 2317,1661],[‘Age 30’, 1453,1119],[‘Age 40’, 1267,1047],[‘Age 50’, 1229,917],[‘Age 60’, 1461,889]]);var options = {title: ‘Comparison of Insurance Rates for Drivers Under 21’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Tennessee’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Find cheap car insurance for drivers under 21 in Tennessee

Here are some of the recommended penny-pinching suggestions that can help drivers buy lower-cost auto insurance.

• Raise comprehensive and collision coverage deductibles
• Better credit rating means better rates
• Save money by insuring your home and auto with the same company
• Try paying for small claims out-of-pocket
• Avoid speeding and other traffic citations and pay less
• Drive attentively and avoid accidents
• Keep rates low by shopping around frequently

That last idea is especially necessary, as was pointed out in this piece. Car insurance rates can change in a short period of time, so don’t be tentative to buy from a different company if a more affordable rate is found. Staying with the same car insurance company is fine, but it’s not a great idea if your bullheadedness ends up costing you hundreds every year. Now is a great time to compare prices to find cheaper car insurance for drivers under 21.

Who has the cheapest insurance quotes for minors?

Due to technology, there are many ways to quote insurance rates in Tennessee, but the most preferred methods are using an independent insurance agent, a captive (or exclusive) agency such as State Farm or Allstate, or buying direct from a company like Progressive or Geico. All three ways can provide insurance quotes, but buyers need to know the differences in how they function.

Independent agents are appointed by several companies and can quote your policy with each one. These agents are not required to write business for one company and can provide you with more rates, which can give you the best chance of finding a lower price. If they find a lower price, it’s easy for the agent to move the policy and you can keep the same agent.

An exlusive, or captive, agency is only able to quote your policy with one company, two of the more popular are a Farmers or Allstate agent. Exclusive agencies are unable to compare rates from other companies, so if rates are not competitive, they cannot give other choices.

The third way to buy insurance is direct which means you bypass an exlusive or independent agent and buy from a direct company like Esurance. This option may be the best choice consumers who do not need risk management and have knowledge of what coverages they need.

What is the best method to buy cheap car insurance for drivers under 21 in Tennessee? We would first guess that shopping direct results in the best prices because there is no agent involved, but that turns out to not be true. We’d also like to say an independent agent is the best way since they have access to many companies, but that assumption is also not accurate. And occasionally, exclusive agents have really good rates well below independent agents AND direct companies.

Because of the variability of insurance rates, the best way to ensure you are not overpaying for insurance is to get rate quotes and compare. Take some time and get price quotes all three ways in order to have enough rates to compare. We compiled a list of companies with some of the cheapest online rates that you can click here to view.