From the Mighty Mississippi to the Great Smokey Mountains and Beale Street to Pigeon Forge, the Volunteer State is no slacker when it comes to culture, scenery, or interesting things to do. With so many fun and exciting things to experience, Tennesseans might not feel they have the time to worry about something as bland as insurance premiums, but the fact is: In Tennessee, insurance quotes are extremely useful tools that can often save you plenty. With a little more money in your pocket each year, you'll have more options to experience the things that make this state great. If you own a home, rent an apartment, or drive a car in Tennessee, insurance quotes are not only important, they are now easier to get than ever. Here are a few things you should know about homeowners and auto insurance in Tennessee, insurance premiums in general, and the possible discounts that await many residents throughout the state.
Homeowners Insurance Quotes: Tennessee vs. National Stats
When it comes to auto insurance, Tennessee is a little more affordable than many states. By examining the national average for the most common homeowners policy (known as an HO-3 policy), we find that Tennessee's average of $706 is just under $100 a year less than the countrywide figure, $804. For renters insurance, however, Tennessee's $208 a year is slightly higher than the national average of $189. These averages, of course, take into account homeowners and renters with much higher (and much lower) premiums, and individual insurance rates can look very different than the state average depending on the specific situation.
Tennessee Insurance Costs for Drivers
For drivers in Tennessee, insurance is, again, a little cheaper than the national average. Throughout the country, drivers pay an average of $795 a year for car insurance; Tennessee drivers pay an average of $649. As is the case in most other states, Tennessee law requires drivers to maintain a minimum amount of liability insurance, with limits set at 25/50/10 (up to $25,000 personal injury per person, $50,000 personal injury per accident, and $10,000 property damage per accident). Since this coverage only covers property damage and medical expenses for the other vehicle and its occupants (and because most insurance experts recommend setting much higher limits), drivers are strongly advised to carry more than the state mandated minimums.
Lowering Tennessee Insurance Costs
There are many ways to lower the cost of an insurance policy. The two most direct routes are raising your deductible (the amount you pay out-of-pocket when a claim is made) or lowering the amount of coverage you pay for. As each of these decisions can leave you paying more if and when an incident occurs, however, it is a good idea to consider other discounts that may be available to you.
Most insurance companies will give discounts when you reduce the relative risk of your situation; in other words, the less likely it is that the insurance company will have to pay out a lot of money for your policy, the lower the rate they can offer you. To reduce the cost of auto insurance, Tennessee drivers should talk to their providers about discounts for installing an anti-theft device, taking a defensive driving course, or raising their credit score. For homeowners insurance, Tennessee insurance providers may offer discounts when you install fire safety equipment or burglar alarms, upgrade plumbing or wiring, or install new home components like fireproof metal roofing.
How Tennessee Insurance Quotes Can Save You Money
Another way to reduce the cost of Tennessee insurance is to compare quotes from different insurance providers. No two insurance companies are exactly alike, and the quotes you get from multiple insurance providers can vary dramatically. For most folks in Tennessee, insurance quotes are going to differ by a small amount from provider to provider, but for some people, these differences may be more significant. In some cases you may be able to get the exact same amount of coverage for hundreds less per year.
NetQuote makes getting Tennessee insurance quotes for auto, home, health, life, and business easy. Enter your zip code and fill out a brief form and you'll soon be looking at side-by-side quotes from several insurance providers in your area. Once you see the numbers, it will be easy to tell if your current policy is the most affordable one available.
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