MoneyGeek features a car insurance calculator for Tennessee which provides a quick estimate of the prices you have to pay. In addition, we also looked into how insurers calculate car insurance premiums in Tennessee to help you determine the major factors that are driving your costs.
Tennessee Car Insurance Calculator: Estimate Your Car Insurance Costs
Updated: December 20, 2024
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Rates updated:
Dec 21, 2024
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Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Tennessee Car Insurance Calculator: How it Gets You an Instant, Free Estimate
It usually takes 10–15 minutes to get a car insurance quote in Tennessee. Based on your age, driving record, vehicle type and coverage levels, MoneyGeek's Tennessee car insurance calculator allows you to instantly get an estimate of how much car insurance would cost you per year or per month in Tennessee.
Adding a teen driver to the policy, the age of the driver and the coverage levels they choose are the three biggest factors that affect your car insurance in Tennessee. However, based on your combination of certain features, the major factors for you may differ.
There are several factors to consider to find the cheapest insurance company in Tennessee, but our calculator can give you a good idea of how you can save on your premium. For our default driver in Tennessee, GEICO is the cheapest widely available company, costing around $389 per year.
It's not just all about the price, however. You'll also want to choose an insurance company that provides excellent customer service and offers the coverage you want.
FACTORS TO CONSIDER WHEN GETTING A CAR INSURANCE ESTIMATE IN TENNESSEE
You can use MoneyGeek’s auto insurance calculator to get estimates or check out our collection of sample drivers looking for the cheapest car insurance in Tennessee.
We also looked into the average cost of car insurance in Tennessee to get a better understanding of how the prices in your state compare to others.
MoneyGeek also ranked the best car insurance providers in Tennessee based on their ability to mix affordability with service excellence.
How Car Insurance Premiums are Calculated in Tennessee
In order to determine your car insurance prices in Tennessee, car insurance companies consider several factors, such as coverage levels, car model, gender, age and driving record.
MoneyGeek found that adding a teen driver to the policy, the age of the driver and coverage levels are the biggest factors that determine your car insurance cost in Tennessee.
Adding a teen driver can increase your car insurance costs by 3.2x.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Tennessee
Those who add a teen driver to their insurance plans are more likely to pay higher premiums. The main reason is that teens are young and inexperienced, so insurance providers perceive them to be riskier drivers who are more likely to be involved in an accident.
Adding a teen to your policy in Tennessee can increase your premium rates by 3.2x
How Much Age of Driver Matters in Calculating Car Insurance in Tennessee
When determining how much auto insurance costs in Tennessee, one of the most significant factors to consider is your age. Insurers typically charge a higher premium for teenage drivers, while seniors pay more than younger adults. Your insurance prices might increase by 2.6x depending on how old you are.
In Tennessee, 40-year-old drivers pay the lowest premium among all age groups. In contrast, teen drivers pay the highest rates.
How Much Coverage Levels Matters in Calculating Car Insurance in Tennessee
The cost of your car insurance is also determined by the amount of coverage you get. Increasing your coverage provides you with extra protection, but it also translates to higher rates.
In Tennessee, you can pay roughly 2.4x more for auto insurance depending on your chosen coverage level. The cheapest option is the state minimum liability-only policy, while the most expensive is a full coverage plan with a $500 deductible and 100/300/100 liability limits.
How Much Credit Score Matters in Calculating Car Insurance in Tennessee
To reduce your Tennessee car insurance rates, you must have a good credit score. If you maintain an excellent credit score, combined with a clean driving record, you will get the cheapest rates in the state.
Having a poor credit score in Tennessee makes a big difference because you’ll have to pay 2.3x more than if you had an excellent credit rating.
How Much Car Model Matters in Calculating Car Insurance in Tennessee
The cost of your car insurance in Tennessee will also be affected by the type of vehicle you drive. That’s because insurability is more difficult for some models. For instance, insurance rates may be higher for drivers with high-value automobiles with expensive components and repair costs.
For instance, luxury sports cars are 2x more expensive to insure than compact SUVs.
How to Calculate How Much Car Insurance You Need in Tennessee
One of the most important factors in determining the cost of car insurance in Tennessee is how much insurance you buy. You can find the policy with the right cost-to-protection ratio by calculating how much car insurance you'll need beforehand.
Bodily injury and property damage liability coverages are required in Tennessee. However, depending on your situation, you may also want to consider purchasing comprehensive and collision insurance or increasing your liability limits.
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Understand Tennessee car insurance requirements
By understanding Tennessee’s minimum car insurance requirements, you can have a good idea of how much car insurance you need. However, note that the state minimum coverage only protects you for $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident and $15,000 property damage liability per accident.
You might want to increase your liability limits if those protections seem insufficient for you. Comprehensive and collision insurance, which protects you against damage to your own car, is not required in Tennessee.
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Consider Purchasing Additional Liability Insurance
If you want protection against the expensive costs of a serious accident, you may need better liability insurance above the state minimums. Let’s illustrate this with a hypothetical. In Tennessee, if a policy with $300,000 bodily injury liability coverage per accident costs $639 per year on average, then you’d pay just $454 on average for minimum liability insurance.
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Decide whether or not to buy comprehensive and collision insurance
Drivers should determine whether or not they need full coverage, which includes both comprehensive and collision coverage. It is not required by Tennessee law, but it may be required by your lender if you are leasing or financing your car.
In Tennessee, the average annual cost of adding comprehensive and collision insurance with a $1,000 deductible is $360 per year. If you're spending hundreds of extra dollars each year to insure a car that's only worth a few thousand dollars, you might want to consider dropping it.
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Consider buying additional protection besides these core coverages
Tennessee has one of the highest rates of uninsured drivers at 23.7% of the driver population in the state. Therefore, getting uninsured/underinsured motorist coverage may be a good option for drivers who wish to protect themselves against these types of motorists. Drivers may also consider purchasing medical payments coverage to cover the cost of medical expenditures in the event of a collision.
Frequently Asked Questions About How Car Insurance is Calculated in Tennessee
Here are the answers to some of the most frequently asked questions that will help you better understand how to calculate how much car insurance you need in Tennessee.
How can I estimate how much my car insurance costs in Tennessee?
You can use MoneyGeek’s car insurance calculator to get a rough estimate of your car insurance rates. You only have to fill out some fields requiring your personal details and you’ll get your estimates instantly.
What are the most important factors companies use to calculate auto insurance costs in Tennessee?
The three biggest factors that affect how your insurance rate is calculated in Tennessee are adding a teen driver, the age of the driver and coverage levels. Keep in mind, however, that these may differ depending on your profile.
How do I calculate how much car insurance I need?
The amount of car insurance you require is determined by state law, but the amount you should purchase may vary. To ensure that you have adequate coverage to comply with state law, you must be aware of the state's minimum coverage requirements. However, if you want sufficient protection for a variety of dangers on the road, you should look into purchasing full coverage and increasing your liability limits.
Methodology
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Tennessee. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.