Knoxville, Tennessee is home to beautiful mountain views and college football. The minimum coverage is $390 per annum and full coverage is $1,304, which are well below the national average of $565 & $1,674, respectively. Knox County had 42 fatalities in 2019, out of 374 overall, highlighting the need for comprehensive and well-rounded auto insurance policies.
Bankrate compared a variety of insurance companies to determine which one offers the lowest car insurance in Knoxville. This was based on a sample from each company’s 2021 premiums.
Knoxville’s best car insurance company
Knoxville has many options for car insurance, but it is important to choose the right one. Bankrate evaluated several using rates from Quadrant Information Service, 2020 J.D. Ratings of customer satisfaction, discounts, and coverages, as well as financial strength, were all considered by Bankrate. These are just a few of the carriers that excel in these areas. These companies offer coverage that is lower than the average Knoxville car insurance cost.
Grange, a 1935-founded regional carrier, has an agent network. Grange offers a wide range of discounts, from loyalty savings and bundling to good grades and away school. There are both standard and customized coverages available. Grange offers a variety of add-ons, including full glass repair, pet injuries and rental car reimbursement.
USAA offers insurance only to military personnel and their immediate families. Low premiums are another benefit. USAA has one of the best customer ratings in the business, scoring 909 points out of 1000 in the J.D. Power Auto Insurance Study, and an A++ (Superior), financial strength rating by AM Best. USAA offers many coverage options and discounts, including a reduced premium while deployed.
Safe Auto was established in 1993. It offers insurance products in 28 US states, including Tennessee. This company is a great choice for low-income drivers who need affordable car insurance. Safe Auto is a specialist in providing auto insurance coverage to historically high risk drivers. This includes those who have been denied coverage by other carriers. You have the choice of standard and full coverage coverages. Safe Auto also offers discounts to help you save even more on your premiums.
State Farm has a variety of ways to purchase Knoxville car insurance. You can do it online, by phone, or via an app on your mobile device. State Farm offers many discounts and coverages, including rideshare coverage or rental car reimbursement. State Farm scores 835 out 1000 J.D. These are power points. State Farm also has an A++ (Superior), rating with AM Best, which demonstrates its financial strength.
Knoxville has the lowest car insurance
Knoxville’s minimum coverage policy costs $390 annually, while full policies cost $1,304 per annum. This is compared to Tennessee where the state average is $371 per year for minimum coverage and $1,338 for full coverage. You will see that the rates are quite different.
Geico, USAA and Nationwide, as well as Travelers, are all national carriers that offer competitive rates and a wide variety of coverage options and discount in Tennessee. This includes Knoxville. Erie is smaller than national carriers but offers large savings and enough coverage options to rival them. Erie relies heavily on its strong agent network with more than 13,000 agents serving 12 states.
Knoxville insurance requirements
Knoxville drivers must follow the state’s automobile insurance laws when purchasing car insurance. Tennessee requires that all drivers have minimum auto insurance. Those who do not purchase this could be subject to severe fines or even lose their license. Tennessee requires liability coverage to be 25/50/15. This includes:
- $25,000 bodily injury liability and death per accident
- $50,000 bodily injury liability and death per accident
- $15,000 per accident for property damage
Although it may seem tempting to only purchase the minimum amount that fits within your budget, this could make you financially vulnerable. Tennessee is third in the country for most uninsured motorists. Nearly 24% drivers do not have insurance. Uninsured motorist coverage can help you cover medical expenses and lost wages if you are in an accident with someone without insurance.
Knoxville: Car insurance discounts
Although average premiums for Knoxville are lower than the national average premium, it is worth taking advantage of any discounts that may be available to further reduce your premiums. Knoxville residents should look into additional discounts such as:
- If you’re a good student: You could be eligible for an additional discount at the University of Tennessee if you have excellent grades.
- Paid in full: Pay your premiums one-time, rather than monthly installments. It is possible to save money and avoid late or additional installment fees.
- Safety equipment: Ask about reduced premiums if your car has safety features like anti-theft systems or airbags.
- Bundling: If you bundle your homeowners/renters/auto insurance policies with the same carrier, you can save even more.
While discounts are an effective way to reduce your premiums, there are other ways you can save. Your premiums will be lower if you take on a higher-deductible policy. This means that you pay more out-of-pocket costs if there is a collision or comprehensive claim. If you are able to afford the additional expense of a claim, this may be an option. Another way to save is comparison shopping. Comparing multiple carriers will allow you to see the differences in rates and coverages.
Questions frequently asked
Which is the best auto insurance company?
The best Knoxville car insurance company is determined by your budget and what you value most from a carrier. Consider the following: Discounts, coverage options, ratings of customer service and digital assets.
What amount of Knoxville car insurance do you need?
The amount of auto insurance you need will depend on your driving habits and your budget. For added protection, lenders will require that you add collision and comprehensive coverage to your vehicle if you lease it or finance it.