How Much are Insurance Quotes for a Toyota Tacoma in Tennessee?

Our editors always tell us that when writing about car insurance, the words “affordable” or “cheap” should never appear anywhere in the article to describe car insurance prices. Notwithstanding, cheap car insurance for a Toyota Tacoma can be difficult to find. But fear not, because we are going to show you some ways you can still find and buy auto insurance that is affordable.

Buying cheaper insurance for a Toyota Tacoma in Tennessee depends upon a complex formula that factors things such as how far you drive to work, if you have ever let your policy lapse, and if you had any at-fault accidents in the last few years. Drivers in Tennessee pay an average rate of $750 each year to insure their Tacoma, but that policy rate is using cost data for a 40-year-old married male who requires full coverage including both comprehensive and collision and $500 deductibles.

There is a good probability you aren’t exactly 40 years old or even a male, maybe you are single instead of married, or maybe you just want liability only. Even a slight difference in the criteria used to calculate rates can induce significant differences in the cost of a policy.

There is no “one size fits all” policy, so the only real way to find cheap insurance rates for your Toyota is to compare as many rates as possible.

View Toyota Tacoma Insurance Rates

The specific model of Tacoma has an effect on the insurance rate, so the price to insure a Tacoma 2WD trim level will be $42 lower than the insurance cost for the high end Tacoma Double Cab TRD Sport Package 4WD model, as demonstrated by the prices below.

Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Table data does not factor in specific location information which can lower or raise rates considerably.

Comparing rates for budget car insurance is tough enough, and finding out which company quotes the most affordable auto insurance rates for a Toyota Tacoma will involve even more rate comparisons. Each auto insurance company has a unique approach for determining rates, so to begin we’ll rank the most budget-friendly auto insurance companies in Tennessee.

Cheapest Insurance Rates for Your Tacoma

Compare Rates and Save

Utica National normally has some of the most affordable car insurance rates in Tennessee at around $744 annually. Cincinnati Insurance, Auto-Owners, Penn National, and USAA also are some of the more affordable Tennessee car insurance companies.

As illustrated above, if you are currently insured with Penn National and switched to Cincinnati Insurance, you may see yearly savings of in the vicinity of $58. Insureds with USAA could save as much as $97 a year, and Tennessee Farmers policyholders might cut rates by $101 a year.

To get a fast rate comparison, click here to start a quote or visit several of the following companies.

Understand that those premium estimates are averaged for all types of drivers and the different vehicles they drive and and are not calculated with a specific rate factor for a Toyota Tacoma. So the auto insurance company that fits your needs best may not even be in the above rate chart. That’s why you need to get quotes using your own specific driver and vehicle information.

Should you buy full coverage?

Finding cheap insurance for a Toyota Tacoma in Tennessee is probably important to most people, and an effective way to find cheap insurance is to buy liability only. The diagram below compares premium costs with full coverage and liability only. The price estimates are based on no claims, a clean driving record, $500 deductibles, marital status is single, and no discounts are taken into consideration.

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If all age groups are averaged, physical damage coverage costs $1,615 per year more than buying just liability insurance. At some point, about every driver wonders if it’s worth it to buy full coverage. There is no definitive formula of when to drop physical damage coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s assume your vehicle’s settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $3,500 after paying your policy deductible. If it’s costing you more than $350 a year for full coverage, then you might want to think about dropping full coverage.

There are a few situations where removing full coverage is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not buy liability only.

Rate increases following a ticket or accident

In a perfect world, the ideal way to get affordable auto insurance prices in Tennessee for a Tacoma is to be an attentive driver and avoid accidents and traffic citations. The diagram below shows how speeding tickets and accidents raise insurance prices for different age groups. The premiums are based on a married male driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.

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In the prior example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,292. Receive one speeding ticket and the average cost increases to $1,487, an increase of $195 each year. Then include one accident along with the one speeding ticket and the 12-month cost of auto insurance for a Toyota Tacoma goes up to an average of $2,015. That’s an increase of $724, or $60 per month, just for not driving carefully!

Allstate, Progressive, Geico, or State Farm: Which is best?

When comparing insurance for a Tacoma in Tennessee, the four most popular companies are Allstate, Progressive, Geico, and State Farm. Between them, they insure almost 50% of the car insurance market in the United States. All offer liability and physical damage insurance, but each one has different optional coverages and features that may steer you one way or another. The next table illustrates pricing and service ratings, as well as optional policy coverages that policyholders can buy.