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How much is car insurance in Franklin?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Franklin is about $6 cheaper than it is in the rest of Tennessee.
Likewise, car insurance rates in Franklin are more affordable than the national average. It's around $34 less to insure your vehicle compared to the average rate for the United States as a whole.
These may be the average auto insurance rates for Franklin, but that doesn't mean it's exactly what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. The monthly premium you'll see each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
Don't sweat it however, we've broken down average rates for Franklin residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
More time behind the wheel makes you a more experienced driver. That experience can lead to some serious savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay $25 more than someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. That said, once you hit retirement age, your rates may rise again in Franklin.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. While female drivers pay slightly less than male drivers on their monthly auto coverage, the difference in Franklin is only about $3 per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Drivers with clean records will pay lower rates than those with accidents or violations. In Franklin, having a single accident on your record will usually get you rates around $39 a month. In addition, drivers with one ticket can expect to pay around $60 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can drive your monthly bill way up. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$52|
|15 Years or Older||$49|
If you look at the first table above, you'll see that SUVs are typically the cheapest vehicles to insure in Franklin, with drivers paying around $41 per month for insurance coverage.
Car owners, on the other hand, by and large pay around $49 a month, while truck and van drivers can expect to pay about $46 per month for auto insurance.
You can also expect to see slightly different rates depending on your vehicle's age. Newer vehicles are generally going to be the most expensive to insure. However, once your car is a few years old you may start to see your rates drop back down a bit. In Franklin, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$52|
More often than not, married policyholders will pay slightly less for insurance coverage. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, single drivers usually pay more than married couples do for auto insurance. Franklin follows that pattern, with the difference totaling to around $18 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$64|
Another factor that comes into play is your housing situation. Renters can expect to pay around $11 a month more than homeowners in Franklin. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Franklin, TN
Recent trends in car insurance for Franklin drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before shopping for coverage.
The rates for car insurance in Franklin had been increasing from 2017-2018, before steadying out in 2019. They finished up in 2022, at $49 a month
How does Franklin compare to neighboring areas?
Why are car insurance rates in Franklin different from other areas?
Car insurance companies look at numerous factors when they're deciding how much to charge for a policy. While we mentioned the factors that affect your personal policy, others are based around where you call home. These include things like:
- Road Safety (how many accidents each locality has)
- Local crime rates
- Off-street parking accessibility
- Local regulations
- Amount of drivers in the area
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Franklin?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
But hold on! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from many of the car insurance companies providing plans in Franklin.
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Franklin Insurance FAQs
What factors affect car insurance quotes in Franklin?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Franklin different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like local laws, parking situations, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Franklin?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Franklin?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Franklin or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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