Who Has Affordable Memphis Car Insurance for a Nissan Altima?

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Nissan Altima insurance
Nissan Altima insurance image courtesy of QuoteInspector.com

Buying cheap coverage for a Nissan Altima in Tennessee is fairly easy, but it depends on a large number of rating criteria such as annual vehicle mileage, your address, and any prior driving offenses. Drivers in Tennessee will pay on average $931 annually for Altima insurance, but that figure is an estimation calculated using a 30-year-old married female driver with full coverage and $250 deductibles.

The problem with using this number is the good chance you are not 30 years old and maybe not even female, you might be single instead of married, and maybe you want higher deductibles. This demonstrates why the only way to find cheap auto insurance rates for your Nissan is to put in the effort to do a thorough rate comparison. It's really quite easy you will be able to compare rates from some of the best insurers around.

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Your vehicle's trim level will most likely have an effect on the annual cost of coverage, so the price you will pay to insure a Altima 2.5 4-Dr Sedan model will be $212 lower than the insurance cost for the more well-appointed Altima 3.5 SR 2-Dr Coupe version, as shown by the rates below.

Nissan Altima Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $216 $368 $294 $18 $88 $984 $82
Altima 2.5 S 4-Dr Sedan $216 $434 $294 $18 $88 $1,050 $88
Altima Hybrid 4-Dr Sedan $244 $434 $294 $18 $88 $1,078 $90
Altima 2.5 S 2-Dr Coupe $244 $434 $332 $20 $100 $1,130 $94
Altima 3.5 SR 4-Dr Sedan $244 $434 $294 $18 $88 $1,078 $90
Altima 3.5 SR 2-Dr Coupe $244 $500 $332 $20 $100 $1,196 $100
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Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate information does not factor in specific Memphis garaging location which can alter premiums greatly.

Selecting the right car insurance company can be a challenge considering how many different companies sell coverage in Memphis. The information in the next section may help you choose which insurers you want to consider when comparing rate quotes.

The rankings below include major nationwide insurance companies, so companies that only write business in Tennessee or surrounding areas are not included in these rankings. To view rates from these and other top-rated companies, just click here.

Best 15 Insurance Companies for a Nissan Altima in Memphis
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
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Data Source: Insure.com Best Car Insurance Companies

Discount Memphis auto insurance rates

Save on insurance for an Altima in MemphisAuto insurance companies that offer coverage for a Nissan Altima may also provide policy discounts that may potentially lower prices by as much as 30% if you meet eligibility requirements. A list of companies and the discounts they provide are:

The illustration below visualizes the comparison of yearly insurance costs with and without discounts applied. Data assumes a male driver, no claims or driving citations, Tennessee state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, safe-driver, multiple policy, vehicle safety, homeowner, and passive restraint discounts applied. In this example, the average savings per year on insurance for a Nissan Altima is 28% or $541.

Comparison of full coverage and liability-only policies

Paying less for insurance is the goal of most drivers, and one of the best ways to pay lower rates for insurance for a Nissan Altima is to only buy liability insurance. The chart below compares yearly insurance costs with liability coverage only compared to full coverage. Data assumes no driving violations, no at-fault accidents, $100 deductibles, drivers are single, and no discounts are factored in.

If we average all the age groups together, comp and collision coverage costs an extra $2,260 per year over and above liability coverage. That touches on the question if you should buy full coverage at all. There is no specific rule that works best for making the decision to drop full coverage, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.

For example, let's pretend your vehicle's settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying your deductible. If it's costing in excess of $500 a year for physical damage coverage, then it might be time to consider dropping full coverage.

How accidents and tickets impact rates in Memphis

One of the best ways to receive the most affordable insurance prices for an Altima is to drive carefully and maintain a clean driving record. The example below shows how violations and accident claims can affect car insurance costs for different insured age categories. The price estimates are based on a single male driver, full coverage, $250 deductibles, and no discounts are factored in.

In the chart above, the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,925. Add in two speeding tickets and the average cost surges to $2,555, an increase of $630 each year. Now add in two accidents along with the two speeding tickets and the yearly cost of insurance for a Nissan Altima goes up to an average of $4,820. That's an increase of $2,895, or $241 per month, just for not being a responsible driver!