Franklin, TN Car Insurance

The average monthly cost for car insurance in Franklin is about $47. To find out more check out our guide below.
Compared to their surrounding area, how do rates in Franklin stack up? What about against the rest of Tennessee? What should residents of Franklin expect to pay for their car insurance? Discover the factors that go into calculating the average cost in our writeups and charts below:  

How much is car insurance in Franklin?

Area Average Monthly Car Insurance Premium
Franklin$47
TN$52
United States$80

Looking at the chart above, you can see it's around $5 a month cheaper to insure your vehicle in Franklin than it is in the rest of Tennessee.

If you're thinking of moving to Franklin from out of state, you may still be in luck. You can expect to pay about $33 less for your policy in Franklin than in the rest of U.S.

Bear in mind that while these rates are the average costs for Franklin residents, it doesn't mean that's what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you to insure your vehicle. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly premium.

But don't worry, we've broken down the average rates for Franklin residents based on several different factors so that you can get a more accurate idea of what you might pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP below and find out in just minutes!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18$183
18-24$66
25-34$42
35-44$36
45-54$35
55-64$37
65+$41

The longer you've been on the road, the more experienced of a driver you are. When it comes to car insurance bills, that experience can help put some change back into your pocket. As you can see, 18-24-year-olds pay a lot more than drivers 65 and older.

As you get older, you can expect to see a drop in your monthly premium every 10 years. Having said that, once you approach retirement your rates may rise again in Franklin.

Average Car Insurance Rates by Gender

Gender Average
Male$48
Female$46

In general, female drivers pay less for car insurance than their male counterparts. In Franklin, although women do pay a bit less on their monthly auto coverage, the price is about the same for either group.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$39
Multiple Accidents$56
1 Ticket$85
Multiple Tickets$50

Your driving record can have a huge impact on your car insurance rates. A clean driving record will obviously get you a lower rate than one with accidents or infractions. The rate for drivers in Franklin with a single accident on their record is about $39 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $85 on average.

Accidents, tickets, and other driving infractions can cost you some serious cash. Remember, the safer you are as a driver, the cheaper your car insurance will be.

Average Insurance Rates by Vehicle

Vehicle Age Average Monthly Premium
Less Than 1 Year$43
2-3 Years$35
4-5 Years$55
6-7 Years$46
8-10 Years$48
11-14 Years$48
15 Years or Older$50

In Franklin, the cheapest vehicles to insure are typically SUVs, with drivers paying around $41 per month for insurance.

Car owners, on the other hand, by and large pay around $50 a month, while truck and van drivers can expect to pay about $43 per month for car insurance coverage.

You may also see different rates based on your vehicle's age. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old however, your rates may start to dip back down a bit. The most expensive vehicles to insure in Franklin are vehicles four-to-five years old.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$53
Married$33
Divorced$34
Widowed$35

More often than not, those who are currently married will pay slightly less for car insurance. This usually happens because companies will award special discounts to policyholders with multiple vehicles that are on the same policy.

On a national scale, single drivers typically pay more than married couples do for auto insurance. Franklin is no exception, with the difference totaling to around $20 a month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$38
Rent$49
Live with parents$66

Another factor taken into consideration is your housing situation. In Franklin, homeowners can expect to pay around $11 a month less than those who rent. Those who live with their parents, however, can expect to pay a lot more.

Bundling your home or rental insurance with your auto insurance 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

The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when selecting an auto insurance policy.

In Franklin, car insurance rates increased from 2016-2018, before leveling out in 2019. Car insurance rates finished down in 2021, at $38 a month

How does Franklin compare to neighboring areas?

Why are car insurance rates in Franklin different from other areas?

Car insurance companies will consider several factors when trying to decide how much to charge for a policy. Your insurance policy will depend largely on where you call home and will be influenced by things such as:

  • Total number of drivers in the area
  • Local regulations
  • Local crime rates
  • Amount of off-street parking
  • Frequency of car accidents

Having an awareness of these factors is critical 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?

In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.

Don't worry, Compare.com does all of that work for you. Just punch in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies that offer coverage 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 age and gender but also factors like your vehicle's year, make and model, plus your marital status, address, credit score, and driving record.

Why is the cost of car insurance in Franklin different from other neighboring cities?

Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like crime rates, local laws, and parking situations when calculating your quote -- all of which can change from city to city.

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 however, by using sites like Compare.com to compare multiple quotes at once.

Do I need to change my insurance if I move to Franklin?

Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good 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?

Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Franklin or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.

Find your best rate in just a few minutes