Study ranks Tennessee’s best cheap car insurance companies

Study ranks Tennessee’s best cheap car insurance companies
25 reports of slashed tires have come in to police (Source: KFVS)

MEMPHIS, TN (WMC) - With average annual car insurance premiums on the rise, the personal-finance website WalletHub has released its 2019 report on the States with the Cheapest & Most Expensive Car Insurance, along with a review of Tennessee’s Best Cheap Car Insurance Companies.

To determine the cheapest car insurance options in Tennessee and the U.S. overall, WalletHub obtained 206,974 quotes across 47 states. Tennessee’s Rank for Cheap Car Insurance: 17th nationwide Top 5 Cheap Car Insurance Companies in Tennessee:

  1. Nationwide
  2. State Farm
  3. The General
  4. Progressive
  5. Liberty Mutual

Other Key Findings:

  • 54 million Americans say they don’t understand their car insurance.
  • 75% of drivers say they want the best car insurance, not the cheapest coverage.
  • 14% of people say they would not buy car insurance if not legally required (millennials are 2X more likely than boomers to agree).
  • 71% of people say it’s unfair for gender to be a factor in car insurance pricing, and 65% feel the same way about credit scores affecting car insurance costs.

To read the entire report, and see how other Mid-South states ranked, click here.

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