Who Has Affordable Memphis Auto Insurance Rates for Uninsured Drivers?

The words “bargain” and “insurance” really should not be used together, especially when you are shopping around for the best insurance rates for uninsured drivers. Because of the high cost, let’s lead off by showing you some of the things that have an impact on insurance rates, and find some ways to slash the price of the next policy you buy.

For drivers with no prior coverage, one of the more important components that are used to help calculate the price you pay for insurance is where you choose to live. More populated areas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.

The illustration below sorts the highest-priced places in Tennessee for uninsured drivers in which to buy car insurance. Memphis shows up at #1 with an annual cost of $1,490 on average, which is approximately $124 per month.

How much is car insurance in Memphis?
Rank City Annual Premium
1 Memphis $1,490
2 Bartlett $1,377
3 Collierville $1,363
4 Germantown $1,320
5 Jackson $1,253
6 Oak Ridge $1,247
7 Columbia $1,214
8 Clarksville $1,206
9 Spring Hill $1,205
10 Knoxville $1,194
11 La Vergne $1,186
12 Cookeville $1,182
13 Maryville $1,172
14 Morristown $1,171
15 Nashville $1,165
16 Franklin $1,164
17 Chattanooga $1,161
18 Smyrna $1,148
19 Murfreesboro $1,148
20 Brentwood $1,144
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Information shown are comparative as zip code location can increase or decrease price quotes significantly.

Deciphering which companies offer the best insurance rates for uninsured drivers will require a little more effort in order to find the best price.

Every insurance company uses different criteria for setting rates, so we will examine the most competitive insurance companies in Memphis. We do need to point out that Tennessee insurance rates are influenced by many factors that may substantially change the cost of coverage. Improving your credit score, getting married, or getting a few speeding tickets may prompt premium changes that may make certain companies more affordable than others.

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Cheapest auto insurance in Tennessee ranked by cost per year
Rank Company Cost Per Year
1 Utica National $737
2 Cincinnati Insurance $858
3 Auto-Owners $861
4 Penn National $908
5 USAA $919
6 Tennessee Farmers $961
7 Erie $967
8 Nationwide $1,012
9 Allied $1,018
10 Westfield $1,079
11 GEICO $1,144
12 Travelers $1,165
13 State Farm $1,213
14 Progressive $1,214
15 The Hartford $1,221
16 Shelter $1,235
17 Direct General $1,238
18 State Auto $1,254
19 21st Century $1,300
20 Chubb $1,329
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Utica National normally has some of the most affordable car insurance rates in Memphis at around $737 a year. This is $591 less than the average policy premium paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Penn National, and USAA would also make the list of some of the more affordable Memphis, TN auto insurance companies.

In the above example, if you have coverage with Cincinnati Insurance and switched to Utica National, you might see an annual savings of roughly $121. Insureds with Auto-Owners might save as much as $124 a year, and Penn National insureds might reduce rates by $171 a year.

Bear in mind that those premiums are averages across all drivers and vehicles in Tennessee and and are not figured with a specific zip code for uninsured drivers. So the car insurance company that fits your situation best may not even be in the top 30 companies in the list above. That illustrates why you need to get rate quotes from many companies using your own personal information and vehicle type.

Best insurance company in Memphis

Finding the highest-rated auto insurance provider can be rather challenging considering how many different companies insure vehicles in Tennessee. The company ratings shown below can help you choose which car insurance providers to look at putting your business with.

The rankings below are only comprised of companies that write coverage in many states, so smaller companies are not included in this list. To get rate quotes from many more Tennessee auto insurance companies, click this link.

Top Insurance Companies for Uninsured Drivers in Memphis, TN
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
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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Data Source: Insure.com Best Car Insurance Companies

How accidents and tickets impact rates

In a perfect world, the best way to maintain affordable insurance rates for drivers with no prior coverage is to drive carefully and avoid tickets and accidents. The diagram below shows how speeding tickets and at-fault accidents influence premium costs for different age groups. The information is based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.

In the prior example, the average cost of a car insurance policy in Tennessee per year with a clean driving record and no accidents is $1,165. Factor in one speeding ticket and the average cost increases to $1,339, an increase of $174 each year. Then add in two accidents along with the one speeding ticket and the annual cost of insurance for uninsured drivers jumps again to an average of $2,896. That’s an increase of $1,731, or $144 per month, just for not driving safely!

Why you are probably overpaying for car insurance

Memphis insurance rates are impacted by many things that can increase the cost of a policy. Improving your credit rating, buying higher coverage limits, or getting a couple of tickets can trigger price changes that may make certain companies cheaper than before.

Not only that, but car insurance companies amend pricing multiple times each year in order to maintain liquidity for claims. Significantly higher claims may result in additional premium costs, while a profitable period may result in cheaper Memphis car insurance rates.

The chart below shows a variety of companies that have the cheapest car insurance in Memphis, TN for a 45-year-old male driver with a clean driving record, no accidents, and a good credit rating. When quoting prices based on his current risk factors, Utica National might quote the lowest car insurance rates in Memphis at $1,070 per year. This is $258 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and Tennessee Farmers are the remaining most affordable Memphis, TN auto insurance companies.

Now we will give the driver from the first rate comparison a couple of claims, a lower credit rating, and a stop sign violation. Due to the fact that every insurance company has their own guidelines to set policy rates, comparing rates could result in a slightly different list of the cheapest Memphis car insurance companies as shown below.

Erie now has the best price on car insurance in Memphis, TN with Allied, Nationwide, Westfield, and GEICO completing the list. This demonstrates why Memphis drivers need to compare rates to get cheap auto insurance rates for uninsured drivers.

Auto insurance prices are made up of many factors and change frequently, so the cheapest option two years ago may now not even be in the top five.

How to find more affordable insurance for uninsured drivers

The list below summarizes some of the better thrifty ideas that can help you get lower-cost car insurance.

The last idea is very vital, as was pointed out in the article above. Car insurance prices in Memphis can be changed at any time, so drivers shouldn’t be reluctant to buy a different policy if a cheaper price is available. Being loyal to a particular company is commendable, but is isn’t recommended if that faithfulness ends up costing you money that could be used for better things. Take a few minutes and compare rates and find cheaper auto insurance for uninsured drivers.