It’s not hard to imagine the stress and financial burden you would face after a car crash. And even the most careful Knoxville drivers are not immune. Accidents from minor fender benders to multi-car pileups can happen at any time, whether you’re traveling on I-40, I-75, or busy Alcoa Highway. A reliable car insurance policy can prevent these types of accidents from causing a large financial loss. A local independent insurance agent can explain your options, obtain multiple quotes for comparison, and help you choose the best policy for your needs and budget.
Tennessee Car Insurance Requirements
Driving without car insurance means that you are entirely unprotected from the financial consequences of causing a crash. If you own a vehicle in Tennessee, you are required by law to purchase a minimum amount of auto insurance to ensure that you can pay for any accidents that you cause. The minimum insurance requirements for Tennessee drivers are:
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Not required
- Uninsured motorist coverage: Not required
- Minimum liability limits: 25/50/15; coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual; and $15,000 coverage for property damage
You might think that purchasing the minimum coverage is sufficient, but it’s important to discuss your coverage needs with a knowledgeable insurance agent. Most people will need additional coverage and higher liability insurance limits to avoid being seriously underinsured. An independent insurance agent can help you assess your coverage needs and find a policy that adequately protects your assets after a serious accident.
How Much Does Auto Insurance Cost in Knoxville, Tennessee?
Tennessee has the 24th most expensive car insurance rates in the nation, on average. Car insurance rates in Knoxville tend to be higher than the state and national averages, but shopping around and taking advantage of discounts is the best way to save.
- National average annual car insurance cost: $1,311
- Tennessee average annual car insurance cost: $1,263
- Knoxville average annual car insurance cost: $1,484
Remember, auto insurance rates often vary significantly from one driver to the next. This is because costs are calculated based on several individual factors that help the insurance company determine how likely you are to be in an accident or file a claim for theft or some other type of loss. Some of the factors that help insurance companies set your rates include:
- Your age, gender, and marital status
- Your driving history and credit score
- Your car’s year, make, and model
- The approximate number of miles you drive each year
- The crime rate in your city or ZIP code
The coverage limits, coverage options, and deductibles you choose will also influence your car insurance rates. You’ll pay more for higher coverage limits and other coverage options, but you can save money by choosing higher deductibles. An independent insurance agent in Knoxville can help you compare quotes, choose policy options, and maximize your discounts.
Number of Uninsured Motorists in Tennessee
While driving without insurance is against the law in Tennessee, many drivers continue to drive without coverage. In fact, Tennessee has the 5th highest percentage of uninsured drivers in the US. That puts everyone at risk.
- How many US drivers are uninsured? 12.6%
- How many Tennessee drivers are uninsured? 20%
Uninsured motorist coverage is required in some states, but not in Tennessee. But it remains the best way to protect yourself if an uninsured, underinsured, or hit-and-run driver hits you. If you have uninsured motorist coverage, you’ll be reimbursed for your vehicle damage and medical expenses, even if your insurance company can’t collect from the at-fault driver. If the at-fault driver can’t or won’t pay, your insurance company absorbs the costs instead of you.
Number of Auto Thefts in Tennessee
The auto theft rate across the state of Tennessee is lower than the national average, but drivers in Knoxville have a greater chance of being a victim of vehicle theft.
- National auto theft rate per 1,000 vehicles: 2.94
- Tennessee auto theft rate per 1,000 vehicles: 2.27
- Knoxville auto theft rate per 1,000 vehicles: 4.63
No matter where you live, it’s important to consider adding comprehensive coverage to your auto insurance policy. And in cities with a higher-than-average auto theft rate, comprehensive coverage is even more important. Comprehensive coverage reimburses you for a stolen or damaged car. It also offers coverage for all kinds of “other than collision” vehicle damage, such as damage from falling objects, floods, structure fires, and more. Talk to a local independent insurance agent about comprehensive coverage, and how it can help you pay to repair your car in a variety of unforeseen circumstances.
Why Contact an Independent Insurance Agent?
Independent insurance agents are insurance professionals who can explain your coverage options, answer your questions, and provide you with customized car insurance quotes from multiple insurance companies. With the help of an independent agent, you can make an informed choice.
Start your search by contacting an independent agent in or near Knoxville.
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