Average car insurance cost in Knoxville, TN

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Based on an analysis by Insure.com, the typical car insurance expense in Knoxville, Tennessee is $1,580 annually. Furthermore, car insurance premiums in Knoxville are $97 less than compared to the state average in Tennessee and $315 less than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Knoxville, the average car insurance rates by age and gender, and the costs in Knoxville based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Knoxville. Keep reading to learn more.

Cheap car insurance companies in Knoxville

Farm Bureau Insurance of Tennessee offers the most affordable car insurance in Knoxville for coverage limits of 100/300/100 at $1,288 per year.

The Travelers comes close second offering car insurance at $1,426 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Knoxville that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Knoxville, Tennessee:

Read about the best car insurance companies.

Average car insurance cost in Knoxville by coverage limits

The average car insurance rates in Knoxville by coverage type are as follows:

• State minimum coverage: $462 per year (limits of 25/50/25)
• Liability-only coverage: $560 per year (limits of 50/100/50)
• Full coverage: $1,580 per year (limits of 100/300/100)
• Non-owners coverage: $377 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Knoxville

The average car insurance per year for female drivers in Knoxville, Tennessee, is $1,583.

Whereas the yearly average car insurance rate for male drivers is $1,577, which is $6 less than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Knoxville

In Knoxville, teenagers have the highest car insurance rates, at $5,446 per year or $454 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $2,597 annually for car insurance, which is $2,849 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Knoxville have car insurance rates of $1,586 and $1,603 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Knoxville

Examining the trends in car insurance rates in Knoxville, Tennessee it was on an upward swing from 2022 to 2023. From 2022 to 2023 rates increase overall by 21%, or $279.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Knoxville are lower than the average rates in Tennessee. Drivers in Knoxville can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

 . .

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.