How to find cheaper Memphis car insurance rates

How to find cheaper Memphis car insurance rates

To save the most money, the best way to get low-cost car insurance rates is to make a habit of regularly comparing prices from different companies in Memphis.

  1. Try to learn about how insurance companies determine prices and the measures you can control to drop your rates. Many risk factors that cause rate increases like speeding and a bad credit score can be eliminated by making small lifestyle or driving habit changes. Keep reading for the details to help find cheaper rates and earn larger discounts.
  2. Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from one company like GEICO or Allstate, while agents who are independent can provide price quotes for many different companies.
  3. Compare the price quotes to your existing policy to determine if you can save on insurance. If you find a lower rate and decide to switch, make sure there is no coverage gap between policies.
  4. Tell your current company of your intent to cancel your existing policy. Submit a down payment and signed policy application for the new coverage. When you receive it, keep your new certificate verifying coverage somewhere easily accessible.

A good tip to remember is to try to compare the same physical damage deductibles and liability limits on every price quote and and to get rates from as many car insurance companies as possible. Doing this ensures an apples-to-apples comparison and a good representation of prices.

Whether you pay cheap or expensive rates for auto insurance depends on a lot of factors, but the average price for coverage in Memphis is $1,230 each year. The average for other states is around $1,220, so Memphis residents pay approximately $10 more each year than drivers in other states.

The cost of Memphis car insurance depends on many factors, and one of the primary price factors is the vehicle you are insuring. The rate table below shows the policy premium for the top-selling cars, trucks, and SUVs in Memphis.

Auto Insurance Rates for Popular Vehicles in Memphis
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Colorado LT 2WD $904 $452 $75
Chevrolet Silverado Crew Cab Hybrid 2WD $1,186 $593 $99
Dodge Ram Quad Cab SLT 2WD $1,104 $552 $92
Ford Escape Limited 2WD $888 $444 $74
Ford F-150 STX Super Cab 2WD $930 $465 $78
Ford Focus SE 2-Dr Coupe $1,148 $574 $96
Honda Accord EX-L 2-Dr Coupe $1,172 $586 $98
Honda CR-V LX 4WD $864 $432 $72
Honda Civic DX 4-Dr Sedan $1,000 $500 $83
Honda Odyssey EX-L $1,092 $546 $91
Hyundai Sonata Limited 4-Dr Sedan $1,172 $586 $98
Mazda 3 S Grand Touring 4-Dr Sedan $1,116 $558 $93
Nissan Altima 2.5 S 4-Dr Sedan $1,092 $546 $91
Toyota Camry SE $1,092 $546 $91
Toyota Corolla S $1,092 $546 $91
Volkswagen Jetta S 2.5 Station Wagon $958 $479 $80
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can influence rates considerably.

Take policy discounts and save on auto insurance

The information below compares yearly insurance costs with and without discounts applied to the rates. The price estimates are based on a female driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-policy, multi-car, and marriage discounts applied.

Brand loyalty may be costing you hundreds every year. Compare rates now and save.

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Memphis, Tennessee Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Erie Insurance 87 84 85 85% A+ 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Top 15 cheapest vehicles to insure in Memphis, TN
Honda Fit
Hyundai Accent
Mini Cooper
Kia Rondo
Honda Accord
Ford Escape
Mazda MX-5 Miata
Mazda 5
Chrysler PT Cruiser
Honda CR-V
Chevrolet Colorado
Hyundai Elantra
Jeep Wrangler
Ford F-150
Nissan Xterra

Top 15 most expensive vehicles to insure in Memphis, TN
Mercedes-Benz S65 AMG
Mercedes-Benz CL65 AMG
Mercedes-Benz CL600
Audi R8
Mercedes-Benz CL63 AMG
BMW 760L
Mercedes-Benz S600
Mercedes-Benz S63 AMG
Porsche 911
Mercedes-Benz CL550
Porsche Panamera
TESLA Roadster
Porsche Cayenne
Chevrolet Corvette

Top 15 safest vehicles to insure in Memphis, TN
Ford Expedition EL
Chevrolet Colorado
Nissan Titan
Jeep Wrangler
Audi Q7
GMC Yukon
Chevrolet Silverado
Buick Enclave
Infiniti QX56
Volvo XC60
Jeep Grand Cherokee
Toyota Tacoma
Chevrolet Tahoe
Chevrolet Silverado 2500HD
Ford F-150