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Motorcycle Insurance in Tennessee: The Cheapest Quotes and Best Companies
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The Cheapest Motorcycle Insurance in Tennessee
To find the lowest and cheapest motorcycle insurance rates in Tennessee, riders can look at liability-only policies. Note, however, that this coverage only provides the minimum insurance protection mandated by Tennessee motorcycle insurance laws and requirements.
Bear in mind that these policies will not cover the fees needed to repair your vehicle or pay for personal bodily injuries in accidents if you are the cause of the accident. You will have to rely on the other party's insurance policy — which leaves you at risk. For maximum security and protection, MoneyGeek encourages riders to go for a full coverage policy instead.
In the analysis below, MoneyGeek has given an in-depth explanation of the cheapest liability-only coverage using a sample profile of a Tennessee biker who wants a standard 50/100/25 coverage.
Cheapest Liability-Only Motorcycle Insurance Quotes in Tennessee
MoneyGeek found that these two insurers provide the lowest average cost of motorcycle insurance in Tennessee:
- Markel: $50 per year
- GEICO: $70 per year
On the other hand, Dairyland charges the highest annual premiums for liability-only coverage policies. The gap shows that Markel has 59.02% lower rates than Dairyland. To ensure that you always get the best rates and fees, remember to ask for as many motorcycle insurance quotes in Tennessee as possible when comparing policies.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
- 1.Markel$50
- 2.GEICO$70
- 3.Progressive$75
- 4.Nationwide$100
- 5.Harley-Davidson$117
Cheapest Full Coverage Motorcycle Insurance Quotes in Tennessee
We encourage bikers to opt for a full-coverage insurance policy to guarantee maximum protection and security, which includes comprehensive and collision coverages. The former assists with non-collision accidents, while the latter provides protection and financial assistance during collision accidents where the policy owner is at fault.
Most lenders require riders to get a full coverage insurance policy to qualify for a motorcycle loan. The same rule applies to riders who need to renew their insurance policy but still have ongoing monthly payments.
MoneyGeek details the lowest full coverage policy premiums using a sample profile of a Tennessee biker with a good driving history. The policy comes with a 50/100/25 coverage and a $500 deductible.
- Dairyland: $226 per year
- Progressive: $271 per year
Nationwide provides the highest full coverage rates at a staggering $705. The vast difference between the two indicates that Dairyland charges 67.94% lower than Nationwide does.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
- 1.Dairyland$226
- 2.Progressive$271
- 3.Harley-Davidson$329
- 4.GEICO$363
- 5.Markel$570
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What Is the Average Motorcycle Insurance Cost in Tennessee?
To give readers a more accurate estimate of how much motorcycle insurance costs, we have compiled the average rates in the state using varying sample rider profiles.
Remember: the average cost of motorcycle insurance in Tennessee depends on multiple factors that include, but are not limited to, the applicant’s bike model, declared coverage amount, driving record, riding experience and age.
Riders who opt for liability-only coverages would have to set aside a meager premium of $89 annually or $7.50 per month. This amount is $52 or 36.88% cheaper than the national average of $141.
However, liability-only policies provide limited protection. Policy owners cannot claim assistance for vehicular repairs or personal bodily injury hospitalization fees in accidents where they are at fault. Those who want to extend their protection and insurance can look at full-coverage plans.
The average annual premiums for a full-coverage policy costs $411, or roughly $12 per month. Meanwhile, the national average is $364, indicating that the rates in Tennessee are higher by $47 or 12.91%.
The average Tennessee premium rates were based on $50,000/$100,000 bodily injury coverage, $25,000 in property damage and a $500 deductible for personal injury protection and uninsured motorist coverage.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in TennesseeAverage 12-Month National CostVariance
- Full Coverage$411$364$47
- Liability Only$89$141-$52
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The Best Motorcycle Insurance Companies in Tennessee
MoneyGeek understands that you need to consider multiple factors when shopping for the best motorcycle insurance in Tennessee. It’s important to find a policy that addresses your needs and matches your lifestyle.
To help readers find the best insurance for their needs, MoneyGeek has narrowed down the top providers in the state. The rankings were determined based on motorcycle quote data unique to Tennessee, product offerings and selection, service and financial stability.
After going through all individual offers in the state, MoneyGeek found that Progressive meets all the criteria necessary to be dubbed the best insurer in the state of Tennessee.
1
Progressive
Score:92
Pros
- Extensive features, benefits and discount opportunities
- Guaranteed insurance renewal for long-term Loyalty Program members
- Full replacement coverages with zero depreciation
Cons
- NC, NY and CA bikers do not have access to their Large Accident Forgiveness coverages
- Discount opportunities vary per state
- Not all states have disappearing deductible rewards
More About Progressive
Progressive ranks number one on our list, with a MoneyGeek score of 91.70 out of 100 points. On average, their liability-only coverage policies cost $75 per year, while the full-coverage policies have a yearly premium of $271.
Progressive stands as one of the largest insurers, not just in Tennessee but also in the entire country. Forbes has dubbed them the 86th largest U.S. corporation in terms of revenue.
Millions of clients continue to trust Progressive with all their insurance needs because they focus on providing a wide range of policy features and benefits, from discounts to full replacement coverages.
Prospective clients would also appreciate Progressive’s competitive pricing plan. They have the lowest full-coverage policy premiums on this list, so consult with them if you’re looking to add comprehensive and collision coverages to your plan.
2
Markel
Score:85
Pros
- Provides insurance for various types of bikes
- Extensive discount opportunities
- Offers driving safety course
Cons
- High premiums for full coverage policies in Tennessee
- Motorcycle insurance is only available in less than ten states
- Discounts are subject to states and situations
More About Markel
With a MoneyGeek score of 85.39 out of 100, Markel scores in second place. Their liability-only coverage plans have an annual premium of $50, while full-coverage policies cost $570 per year.
Markel has made a name for itself as one of the best specialty and niche insurance companies in the country—despite the limited availability of their services. They offer extensive coverage options that you may not find anywhere else. One of which includes rental vehicle coverage. This allows policy owners to claim income loss and damage repair on rental motorcycles involved in covered accidents.
While their rates in Tennessee are on the higher end of the spectrum, they offer multiple opportunities to get better deals. You can get a discount on your policy if you meet various conditions, such as participating in their safety driving courses, installing an anti-theft alarm, insuring multiple bikes, paying premiums on time or achieving diminishing deductible rewards.
3
Harley-Davidson
Score:85
How to Get a Motorcycle Insurance Quote in Tennessee
Bikers can request motorcycle insurance quotes in Tennessee provided they have the following information available:
- Tennessee address and ZIP code
- Personal information, including age, experience level and riding record
- Motorcycle make, model and year
- Insurance coverage elections (see below information)
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How Much Motorcycle Insurance Coverage Do You Need in Tennessee?
Do not underestimate your coverage needs just to get lower premiums. In Tennessee, motorcycle insurance laws and requirements mandate that bikers need to carry a specific amount of insurance coverage. This includes:
- $25,000 per-person bodily injury liability (BI)
- $50,000 per-accident bodily injury liability
- $15,000 property damage liability (PD)
How Much Insurance Coverage Is Required in Tennessee?
Tennessee requires bikers to carry minimum liability-only coverage of 25/50/15. This amount translates to $25,000 worth of per-person bodily injury liability limits, $50,000 worth of per-accident bodily injury liability and $15,000 worth of property damage liability.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Tennessee?
Tennessee only requires bikers to carry liability-only coverage of 25/50/15, so the law does not mandate bikers to get uninsured motorist (UM), underinsured motorist (UIM) and personal injury protection (PIP) coverage.
MONEYGEEK EXPERT TIP
We recommend bikers upgrade to a full coverage policy. Instead of a 25/50/15, opt for at least a full coverage of 50/100/25. That way, you can ride at ease knowing that you have total protection no matter what accident or emergency transpires.
If you have the extra funds and want to compensate for the incremental charges of a coverage increase, get a 100/300/100 policy.
In Tennessee, additional UIM, UM and PIP coverages are optional. However, having these on your policy provides extra assistance in situations involving motorists who do not have sufficient insurance to cover the vehicular or bodily damages you sustained. Bikers who have been riding for years without these should consider upgrading the next time they need to renew their insurance policy.
Frequently Asked Questions About Motorcycle Insurance in Tennessee
We have answers to some of the most frequently asked questions you may have when shopping for motorcycle insurance in Tennessee.
Markel offers the lowest annual premiums for liability-only insurance at $50, while Dairyland has the lowest annual fees for full-coverage policies at just $226.
Most bikers would only have to pay $89 per year for the minimum liability-only coverage Tennessee requires. On the other hand, full comprehensive and collision coverages would cost around $411 annually.
MoneyGeek found that Progressive offers the best motorcycle insurance in Tennessee—for both liability-only and full-coverage policies.
The state of Tennessee requires all riders to carry a minimum liability-only coverage amounting to 25/50/15.
Compare Motorcycle Insurance Rates
Ensure you're getting the best rate for your motorcycle insurance. Compare quotes from the top insurance companies.
Methodology
MoneyGeek gathered motorcycle insurance quotes in Tennessee from six insurers in the area to help bikers find the rates and coverages that suit them best.
Since premiums vary based on an applicant’s insurability, MoneyGeek used multiple sample rider profiles. That way, readers can get a clear idea of how much they would have to pay for motorcycle insurance rates in Tennessee based on their general needs and preferences.
The top three insurers mentioned in this article were chosen based on the following criteria: policy cost in Tennessee (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting).
Recent Tennessee motorcycle insurance laws and requirements were sourced from state DMV and government websites that contain updated, relevant and legally correct information.
About Mark Fitzpatrick
sources
- Injury Prevention. "Motor vehicle driver injury and marital status: a cohort study with prospective and retrospective driver injuries." Accessed March 9, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed June 11, 2021.
- Insurance Information Institute. "Facts + Statistics: Teen drivers." Accessed March 5, 2021.
- Tennessee. "Why you should have auto insurance." Accessed May 11, 2021.