Knoxville, Tennessee offers its residents plenty of college football and beautiful mountain views. It also offers inexpensive auto insurance, with minimum coverage averaging $ 390 per year and full coverage averaging $ 1,304 – well below the national averages of $ 565 and $ 1,674, respectively. But Knox County also had 42 fatal accidents in 2019 on 374 in total in the state of Tennessee, which highlights the critical need for a comprehensive and well-balanced auto insurance policy.
Bankrate reviewed a number of carriers to find out which ones offer the cheapest auto insurance in Knoxville, based on a sample of each company’s premiums for 2021.
Best cheap auto insurance companies in Knoxville
There are tons of options when it comes to auto insurance companies in Knoxville, but choosing the best one requires careful consideration. Bankrate analyzed several based on Quadrant Information Services rates, JD Power 2020 customer satisfaction ratings, available discounts and hedges, and financial strength. Based on this information, there are a handful of carriers that excel in these categories. Many of these companies even offer coverage below the average cost of auto insurance in Knoxville.
|Insurance company||JD Power Score
|Average annual premium for minimum coverage||Average annual premium for full coverage|
|barn||N / A||$ 252||$ 964|
|USAA||909/1000||$ 341||$ 1,118|
|Safe Auto||N / A||$ 357||$ 1,660|
|State farm||835/1000||$ 377||$ 1,143|
Grange, a regional transporter founded in 1935, operates with a network of agents. Grange has a long list of available discounts, ranging from Good Grades and Away to School, to Loyalty Savings and Bundles. The covers are varied as well, with standard covers and more personalized options available. Add-ons such as full glass repair, pet injury, and rental car reimbursement are a few ways to supplement your policy with Grange.
Find out more: Grange Insurance Review
USAA provides insurance exclusively to current or former members of the military and their immediate family members. In addition to low premiums. USAA offers some of the highest customer ratings in the industry, with a score of 909 out of 1000 in the JD Power Auto Insurance study and a financial strength rating of A ++ (superior) by AM Best. USAA offers many coverage and discount options, many of which are intended for military personnel, such as reduced premiums while deployed.
Learn more: USAA Insurance Review
Safe Auto was founded in 1993 and now offers insurance products in 28 states, including Tennessee. The company is perhaps one of the best auto insurance companies in Knoxville for drivers in need of an affordable policy, such as low income families. Safe Auto specializes in providing auto insurance coverage to traditionally high-risk drivers, such as those who have been refused by other carriers. Coverage options include standard coverages, as well as SR-22 and full coverage policies. Safe Auto also offers discounts to help you save more on your premiums.
Learn more: Safe Auto Insurance Review
Whether you buy your Knoxville auto insurance online, through a mobile app, over the phone, or work directly with an agent, State Farm has it all for you to suit your preferences. State Farm also offers a wide variety of coverages and discounts, including carpooling coverage and rental car reimbursement. State Farm not only offers good customer service ratings, with 835 points out of 1000 JD Power, but also an A ++ (superior) rating with AM Best, also demonstrating its financial strength.
Learn more: State Farm Insurance Review
Cheapest auto insurance in Knoxville
The average cost of a minimum coverage policy in Knoxville averages $ 390 per year, while a comprehensive policy averages $ 1,304 per year. Compare that to Tennessee, where the overall state average is $ 371 per year for minimum coverage and $ 1,338 for a full coverage policy, and you’ll find that the rates are a bit varied.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||$ 236||$ 915|
|USAA||$ 341||$ 1,118|
|In all the countries||$ 356||$ 1,065|
|Travelers||$ 375||$ 1,073|
|Erie||$ 377||$ 1,569|
Geico, USAA, Nationwide, and Travelers are all national carriers offering competitive rates along with a wide range of coverage options and discounts in Tennessee, including the city of Knoxville. Erie, while smaller in size, also offers big savings, along with enough coverage and discount options to compete with domestic carriers. Erie also relies on a strong network of agents, with more than 13,000 agents to serve 12 states.
Insurance Requirements in Knoxville
When purchasing auto insurance, Knoxville drivers are required to follow state auto insurance laws. State of Tennessee requires minimal auto insurance, and those who don’t buy it could face heavy fines and license suspension. Tennessee requires 25/50/15 liability coverage, which includes:
- $ 25,000 in bodily liability or accidental death
- $ 50,000 in bodily liability or accidental death
- $ 15,000 for property damage per accident
While only buying the minimum to stay on budget can be tempting, it could make you financially vulnerable. For example, Tennessee ranks third in the country for the most uninsured motorists – almost 24% of drivers do not purchase insurance. If you are involved in an accident with someone who has no insurance and who is the at-fault driver, adding uninsured motorist coverage to your policy helps cover your medical costs and loss of insurance. salary.
Auto insurance discounts in Knoxville
While average premiums in Knoxville are lower than the national average, taking advantage of as many discounts as possible is a great way to save even more on your premiums. Knoxville residents should consider looking for additional discounts, including:
- Good student: Whether you’re a high school student, enrolled at the University of Tennessee, or any other school, you may be eligible for an additional discount if your grades are good.
- Fully Paid: If possible, pay your premiums all at once, rather than in monthly installments. You could save money by avoiding additional down payment fees and possibly late payments, as well as a possible reduction for the upfront payment.
- Security equipment: If your car is equipped with safety features such as airbags or an anti-theft system, inquire about reduced premiums for additional safety equipment.
- Grouping: Buying your auto insurance policy from the same carrier you purchased your home / tenant insurance means additional savings for the bundle.
Discounts are a smart way to save even more on your premiums, but there are other ways to save, too. Accepting a higher deductible – which means you pay more in costs if you have a comprehensive claim or a collision claim – lowers your premiums. This can be a good option if you can afford the higher personal expenses of a claim. Comparative shopping is another way to save. When you compare multiple carriers, you can see how far rates and coverage can vary from carrier to carrier.
Frequently Asked Questions
What is the best auto insurance company?
Choosing the best Knoxville auto insurance company depends on both your budget and what matters most to you from a carrier. Competitive pricing, discounts, coverage options, customer service ratings, and digital assets are all worth considering.
How much auto insurance do I need in Knoxville?
The amount of auto insurance you need depends on both your budget and your driving lifestyle. In addition to the minimum state requirements, most lenders require you to add comprehensive coverage and collision insurance if you lease or finance a vehicle, for additional protection.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record , good credit and the following. coverage limits:
- $ 100,000 of civil liability per person
- Civil liability of $ 300,000 per accident
- Liability for property damage of $ 50,000 per accident
- $ 100,000 of uninsured bodily injury by a motorist per person
- $ 300,000 in uninsured bodily injury by a motorist per accident
- $ 500 collision deductible
- Full $ 500 deductible
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our example drivers own a 2019 Toyota Camry, commute five days a week, and travel 12,000 miles a year.
These are sample rates and should only be used for comparison purposes. Your quotes may be different.