Factors Influencing the Cost of Auto Insurance in Chattanooga, TN
The average cost of auto insurance in Chattanooga, TN, is $1,092. This is much lower than the average cost of auto insurance in neighboring places such as Hamilton County, Ridgeside, Red Bank, Rossville, and East Ridge. Car owners need to compare multiple car insurance quotes before arriving at one that best suits their coverage needs. The savings a driver can garner in Chattanooga depends on numerous factors ranging from the make and model of the car to the deductible rate. Zimlon explores several of these factors below.
The rate of the deductible is one of the most common factors affecting the cost of auto insurance in Chattanooga. A low deductible tends to increase the cost of auto insurance, while a high deductible decreases it. For instance, in Chattanooga, the cost of auto insurance for a low deductible, say $500, is $1,361, while it is $1,149, against a higher deductible of $1,000.
Age of the Driver:
The age of the driver is another factor that affects the cost of auto insurance. Younger car owners end up spending more on auto insurance because of their lack of driving experience. With an increase in experience, the cost of auto insurance decreases. As the above infographic indicates, the cost of auto insurance for teenagers in Chattanooga is $3,543. In contrast, it is lowest for car owners in their fifties and sixties. The former pays $963 on an average, while the latter pays $976.
A poor driving record can also lead to a massive increase in auto insurance costs for car owners in Chattanooga. Post-DUI, the cost of auto increase rises to $1,956. Other major driving violations can also cause a massive increase in rates. Driving with an expired license can increase auto insurance by $736 while speeding and running a red light can increase the cost of auto insurance by $268 and $254, respectively.
Being a safe driver has its benefits since the amount of risk being covered by the insurer is less when the driver does not have too many violations.
Having an “average” or “poor” credit score can also lead to a massive increase in auto insurance premiums for drivers in Chattanooga. The cost of auto insurance for drivers with an “average” credit score is $1,485 and $1,781 for drivers with a “poor” credit score.