Who Has Cheap Car Insurance Quotes for Business Use in Tennessee?

Because the topic is auto insurance, the word cheap should never be used anywhere in the article. It’s just a fact that cheap car insurance for business use can be hard, if not impossible, to find. Don’t let that bother you, though, because we are going to show you how you can quote coverage that is considered budget-friendly.

One of the key criteria that car insurance companies take into consideration when calculating auto insurance rates is where you live. Areas with more people or even just a higher incidence of claims like Memphis, Germantown, and Jackson will most likely pay more, whereas areas with less crime or weather claims generally pay lower car insurance rates.

The next table ranks the most expensive cities in Tennessee for business use to purchase car insurance in.

Rate information is approximated as the specific garaging location can modify premium rates noticeably.

Finding reasonably-priced car insurance is not easy, and deciding which company offers the cheapest auto insurance rates for business use may require more quotes for comparison. Rates should be somewhat greater than the average policy in Tennessee, with the increase attributed to the extra risk that goes along with selling coverage for using your car for business, but economical coverage should be attainable if you do a thorough comparison.

Each insurance company uses a different method for determining prices, so we’ll take a look at the most affordable auto insurance companies in Tennessee.

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Utica National may have some of the most affordable car insurance rates in Tennessee at around $737 annually. Auto-Owners, Cincinnati Insurance, Tennessee Farmers, and Penn National are also some of the lowest-priced Tennessee insurance companies.

In the above rates, if you have coverage with Penn National and switched to Auto-Owners, you might achieve a yearly savings of around $99. Policyholders with USAA could save as much as $121 a year, and Erie insureds might see rate reductions of $131 a year.

If you want to see how much you could save, click here to get quotes or quote rates from the companies below.

Remember that these policy prices are averaged for all ages of drivers and types of vehicles and and are not figured with a price surcharge for business use. So the car insurance company that can offer you the best rate may not even be featured in the company chart above. That underscores the importance of why you need to get rate quotes from many companies using your own individual information.

The make and model of vehicle you are seeking coverage for is a large consideration that determines whether or not you can buy cheap auto insurance for business use in Tennessee. Vehicles with higher performance characteristics, poor safety features, or a track record of large liability claims will cost substantially more to insure than more modest models.

The next table illustrates auto insurance rates for the most economical automobiles to insure in Tennessee.

Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Premium amounts do not factor in specific location information which can raise or lower price quotes noticeably.

Looking at the data, you can figure that cars like the Ford Escape, Chevrolet Traverse, and Honda CR-V are likely to be some of the cheaper vehicles to insure for using your car for business. The cost of auto insurance will be higher anyway just due to the fact that there is more liability exposure for business use, but generally speaking those particular vehicles will most likely have the lowest prices that you’ll find.

How to get discounts on Tennessee auto insurance rates

Auto insurance companies that sell cheap auto insurance for business use in Tennessee may also offer policy discounts that could lower prices by 40% or more if you meet certain criteria. Larger auto insurance companies and their possible discounts can be found below.

The chart below illustrates the difference between insurance rates with and without discounts being applied to the rates. Data assumes a female driver, no claims or driving violations, Tennessee state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with accident-free, safe-driver, multiple policy, anti-theft, multiple vehicle, and marriage discounts applied. When these discounts are applied, the the average amount saved on auto insurance for business use is 13% or $176.

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Cheapest insurance quotes for using your car for business

Thanks to technology, drivers have a lot of ways to buy auto insurance in Tennessee, but the most frequently used methods are from an independent agent, an exclusive insurance agent like State Farm or Auto-Owners, or from a direct company like Geico.

Each way has the same basic process, but shoppers should understand the differences in how they provide price quotes.

Independent insurance agencies are appointed by several companies and can quote your policy with each one. Independent agents are usually affiliated with several companies and can give you more rate choices, which can give you the best chance of saving money. If you are not satisfied with one company, you can get a different policy and you don’t have to find a new agent.

Exclusive agencies are only able to place business with one insurance company like a Liberty Mutual or State Farm agent. They are unable to provide a range of price quotes, so drivers will want to get other quotes as well.

Buying auto insurance direct means you skip an exlusive or independent agent and instead buy direct online or over the phone from a company like Progressive or Geico. This option can be good for consumers who have lower risk management needs and understand what coverages they need.

Out of those three methods, which one works best to find cheap auto insurance for business use in Tennessee? It would be simple to say shopping direct results in the best prices because you bypass the middleman, but in reality, that argument does not hold true. A good argument could also be made that going through an independent agent guarantees the cheapest rates because you have more choices, but again, it’s not necessarily true. In many circumstances, exclusive agencies may have very competitive prices that independents and direct companies can’t touch.

Because there are so many factors that make up auto insurance rates, the one way to get the lowest rate is to get rate quotes and compare. Set aside the time to get prices from all three types to get a good idea who is cheapest. For a list of companies with online discounts, click here to view.

How to get cheap auto insurance for business use in Tennessee

The list below summarizes a few money-saving suggestions that can help you get lower-cost coverage.

• Raise comprehensive and collision coverage deductibles
• Pay cheaper rates with good credit scores
• Avoid preventable accidents
• Drive vehicles with five-star safety ratings
• Do not get traffic violations
• On older vehicles, drop full coverage
• Comparison shop frequently

That last piece of advice is extraordinarily vital, as was stressed in the article above. Rates in Tennessee can be adjusted at any time, so don’t be tentative to switch to a new company if you can save money.

Staying with the same car insurance company is fine, but it’s not a good idea if that loyalty results in overpaying money that could be spent on other things. Take a few minutes and compare prices to find cheaper car insurance for business use.