The words “low-cost” and “insurance” really shouldn’t be used together, in particular when you are shopping around for the best car insurance for nurses. To help control this cost, let’s learn about a few of the things that have an effect on car insurance prices, and find out if we can help you lower the price of your next policy.
For health professionals, one of the largest considerations that determine the annual cost of car insurance is where your residence is in Memphis. Cities with more crime and/or more people tend to pay more, whereas more rural areas have the enjoyment of a little cheaper coverage.
The following table sorts the most expensive areas in Tennessee for nurses in which to buy car insurance. Memphis comes in at #1 with an annual rate of $1,460 on average, which is approximately $122 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Memphis | $1,460 |
| 2 | Bartlett | $1,363 |
| 3 | Collierville | $1,349 |
| 4 | Germantown | $1,320 |
| 5 | Jackson | $1,266 |
| 6 | Oak Ridge | $1,260 |
| 7 | Knoxville | $1,218 |
| 8 | Columbia | $1,214 |
| 9 | Nashville | $1,213 |
| 10 | Maryville | $1,196 |
| 11 | Murfreesboro | $1,194 |
| 12 | Smyrna | $1,194 |
| 13 | Spring Hill | $1,193 |
| 14 | Cookeville | $1,182 |
| 15 | Franklin | $1,175 |
| 16 | Clarksville | $1,170 |
| 17 | Hendersonville | $1,170 |
| 18 | Brentwood | $1,168 |
| 19 | Chattanooga | $1,161 |
| 20 | Gallatin | $1,155 |
| 21 | La Vergne | $1,151 |
| 22 | Morristown | $1,125 |
| 23 | Cleveland | $1,102 |
| 24 | Kingsport | $1,068 |
| 25 | Johnson City | $1,063 |
| Compare Rates Now Go | ||
Information shown are estimated as the specific geographic location can revise premium rates substantially.
Finding out which companies have the cheapest insurance rates for nurses may require a bit more effort in order to find the best price. Every insurance provider uses their own method for determining rates, so we’ll go over the insurance companies that tend to have lower prices in Tennessee.
Best Car Insurance Prices for Health Occupations
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $737 |
| 2 | Auto-Owners | $827 |
| 3 | Cincinnati Insurance | $876 |
| 4 | USAA | $919 |
| 5 | Penn National | $926 |
| 6 | Tennessee Farmers | $933 |
| 7 | Erie | $967 |
| 8 | Nationwide | $1,042 |
| 9 | Allied | $1,060 |
| 10 | Westfield | $1,069 |
| 11 | GEICO | $1,144 |
| 12 | Shelter | $1,187 |
| 13 | Progressive | $1,190 |
| 14 | Travelers | $1,201 |
| 15 | State Farm | $1,213 |
| 16 | Direct General | $1,214 |
| 17 | State Auto | $1,254 |
| 18 | The Hartford | $1,258 |
| 19 | 21st Century | $1,274 |
| 20 | Chubb | $1,316 |
| Compare Rates Now Go | ||
Utica National has some of the best car insurance rates in Memphis at around $737 annually. Auto-Owners, Cincinnati Insurance, USAA, and Penn National also make the cut as some of the most economical Memphis, TN auto insurance companies.
As shown in the rates above, if you are a customer of Penn National and switched to Auto-Owners, you may realize savings of approximately $99. Customers with Tennessee Farmers might save as much as $106 a year, and Erie customers might realize rate reductions of up to $140 a year.
To find the cheapest rates for your vehicle, click here to begin a quote or visit several of the following companies.
It’s important to note that these premium estimates are averaged for all types of drivers and the different vehicles they drive and do not factor in an exact zip code location for nurses. So the auto insurance company that fits your situation best may not even be in the list above. That’s why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
How much more does full coverage cost?
Paying less for insurance is probably important to most people, and one of the best ways to find cheaper insurance for nurses is to buy liability only. The chart below illustrates the difference between yearly insurance costs with and without physical damage coverage. The data assumes a clean driving record, no claims, $100 deductibles, single status, and no policy discounts are applied.
If we average the cost for ages 20 through 70, physical damage coverage costs an extra $1,847 per year more than insuring for liability only. That is a large expense and it proposes the question if buying full coverage is worth the money. There is no clear-cut rule to drop physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
How to get discounts on Memphis car insurance rates
Insurance companies that offer quotes for nurses may also provide policy discounts that can reduce rates by as much as 25% or more if you meet the requirements. Popular insurance companies and a selection of discounts include:
- American Family policyholders can earn discounts including multi-vehicle, bundled insurance, good driver, Steer into Savings, air bags, and good student.
- Nationwide may include discounts for business or organization, accident-free, easy pay, good student, family plan, and anti-theft.
- MetLife may offer discounts for claim-free, defensive driver, multi-policy, good driver, good student, and accident-free.
- 21st Century has savings for teen driver, anti-lock brakes, homeowners, defensive driver, and automatic seat belts.
- Farmers Insurance may have discounts that include multi-car, mature driver, alternative fuel, youthful driver, and electronic funds transfer.
- Allstate offers premium reductions for farm vehicle, teenSMART discount, early signing, senior citizen, and economy car.
The chart below compares annual premium costs with and without discounts applied to the policy rates. The premiums are based on a female driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple policy, anti-theft, claim-free, homeowner, marriage, and defensive driving course discounts applied. When taking advantage of discounts, the average savings per year on insurance for nurses is 28% or $359.
How to find economical car insurance for nurses
Lowering your rates is not difficult, and here are many thrifty suggestions that can help Tennessee drivers find lower-cost coverage.
- Buy safe vehicles
- Remain accident-free and save
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Do not file small claims
- Increase your credit rating
- Comparison shop at least every other year
The last tip is highly significant, as was stressed in the prior article. Insurance rates in Memphis fluctuate constantly, so drivers shouldn’t be resistant to buy from a new company if a lower price can be found.
Having a favorite company is great, but we do not recommend it if that devotion results in you overpaying a considerable chunk of change every month. Take a couple minutes and shop around and find cheaper car insurance for nurses.
If you aren’t sure which coverage you need and prefer to get some help when comparing insurance rates for nurses, the agents below are willing to help you make a decision which insurance coverage you need. To locate a Memphis insurance agent by location nearest to you, click the button after the list.
Nationwide Insurance: Clarence Mosley Jr
4132 Elvis Presley Blvd – Memphis, TN 38116 – (901) 346-2550
Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159
Peterson Insurance Services, Inc.
8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777
Heath Johnson – State Farm Insurance Agent
2657 Appling Rd #101 – Memphis, TN 38133 – (901) 372-2228