A recent insurance study discovered that most consumers renewed their policy with the same company for over three years, and approximately 40% of consumers have never taken the time to shop around. With the average premium in Tennessee being $1,380, drivers could cut their rates by almost 35% a year by just shopping around, but they don’t invest the time required to find affordable insurance by shopping around.
The best way to find affordable car insurance rates in Memphis is to do an annual price comparison from insurers who provide car insurance in Tennessee. Drivers can shop around by following these steps.
- Try to learn about how insurance works and the changes you can make to keep rates in check. Many rating factors that cause rate increases like at-fault accidents, careless driving, and a low credit rating can be eliminated by being financially responsible and driving safely. Read the full article for instructions to get lower rates and get additional discounts.
- Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from a single company like GEICO and State Farm, while agents who are independent can provide rate quotes from multiple sources. Click to view companies
- Compare the new quotes to your existing coverage to see if switching to a new carrier will save money. If you find better rates and change companies, ensure coverage does not lapse between policies.
A crucial key to this process is to compare similar coverage information on each quote request and and to analyze as many auto insurance providers as possible. Doing this enables an apples-to-apples comparison and a thorough price selection.
If you have a policy now, you will definitely be able to find the best rates using the ideas presented in this article. Finding the cheapest coverage in Memphis can be much easier if you know how to start. Nevertheless, Tennessee drivers need to have an understanding of how big insurance companies calculate your car insurance rates because it varies considerably.
The most recommended method to compare policy rates for Pontiac Solstice insurance in Memphis utilizes the fact almost all companies allow for online access to provide you with a free rate quote. The only thing you need to do is give the companies some data such as the ages of drivers, the year, make and model of vehicles, if the car is leased, and how you use your vehicles. Your rating data gets transmitted to insurance carriers in your area and they return cost estimate quickly.
To compare cheaper Pontiac Solstice insurance rates now, click here and see if a lower rate is available in Memphis.
The car insurance companies shown below have been selected to offer free quotes in Memphis, TN. To buy the best auto insurance in TN, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Lower rates by qualifying for these nine discounts
Car insurance companies don’t always list all possible discounts in an easy-to-find place, so the following is a list of both well-publicized and the harder-to-find credits that may apply to you. If you’re not getting every credit available, it’s possible you qualify for a lower rate.
- Discount for Good Grades – This discount could provide a savings of up to 20% or more. The good student discount can last until age 25.
- Bundle and Save – When you have multiple policies with one company you could save nearly 15% which can help you find affordable Pontiac Solstice insurance rates in Memphis.
- Discounts for Seat Belt Usage – Forcing all vehicle occupants to buckle up could save 15% off the personal injury premium cost.
- Multi-Vehicle Discounts – Purchasing coverage when you have multiple vehicles on a single policy can reduce rates for all insured vehicles.
- Theft Deterrent Discount – Vehicles with anti-theft systems have a lower chance of being stolen and qualify for as much as a 10% discount.
- Low Mileage Discounts – Keeping the miles down on your Pontiac could qualify for lower rates due to less chance of an accident.
- Safety Course Discount – Taking time to complete a course teaching driver safety skills could possibly earn you a 5% discount and easily pay for the cost of the class.
- Federal Government Employee – Simply working for the federal government can save as much as 8% but check with your company.
- Clubs and Organizations – Affiliation with qualifying employment or professional organizations may earn a discount when shopping for car insurance.
Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to all coverage premiums. Most only apply to the cost of specific coverages such as liability and collision coverage. Just because you may think you can get free auto insurance, companies wouldn’t make money that way.
To locate insurance companies with discount rates in Tennessee, click this link.
Buying insurance from Memphis auto insurance agents
Many people still like to sit down and talk to an agent and that can be a smart move One of the great benefits of comparing insurance online is that you can obtain the lowest rates and also buy local.
To help locate an agent, after submitting this simple form, the coverage information is instantly submitted to companies in Memphis who will gladly provide quotes for your business. There is no reason to find an agent due to the fact that quote results will go instantly to you. You can find the lowest rates without the usual hassles of price shopping. If for some reason you want to compare rates from a specific insurance company, don’t hesitate to search and find their rate quote page and complete a quote there.
Selecting an insurer should include more criteria than just the price. Here are some questions you might want to ask.
- What insurance company do they write the most business with?
- What is the financial rating for the quoted company?
- Is auto insurance their primary focus in Memphis?
- What discounts might you be missing?
- Are there any extra charges for paying monthly?
- Do they offer claims assistance after hours?
When finding a local Memphis insurance agency, it’s helpful to know the different agency structures and how they operate. Insurance agencies in Memphis can be classified as either exclusive or independent agents depending on their company appointments.
Agents in the exclusive channel write business for a single company such as Allstate, Farmers Insurance, State Farm, and AAA. They usually cannot provide other company’s prices so always compare other rates. Exclusive agents are very knowledgeable on their company’s products which helps them sell on service rather than price.
Shown below are exclusive agents in Memphis who can help you get comparison quotes.
Independent Agents (or Brokers)
Agents in the independent channel are appointed with more than one company so as a result can place your coverage with multiple insurance companies and potentially find a lower price. If they find a cheaper price, your agent can just switch to a different company and you don’t have to find a new agent. If you are comparing insurance prices, it’s a good idea to include several independent insurance agents for maximum quote selection.
The following are independent agents in Memphis who can help you get rate quotes.
Car insurance can get complicated
When quoting and comparing your policy for your personal vehicles, there really is no single plan that fits everyone. Every insured’s situation is different.
For instance, these questions may help highlight whether you would benefit from an agent’s advice.
- Does my Pontiac Solstice qualify for pleasure use?
- Is there coverage for my trailer?
- Why am I be forced to buy a membership to get insurance from some companies?
- Is my dog or cat covered if injured in an accident?
- Does insurance cover damages from a DUI accident?
- Do I need more liability coverage?
- Am I covered when driving a rental car?
- Do they offer discounts for home and auto coverage?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form.
Here’s why insurance is not optional
Despite the high cost, insurance serves an important purpose.
- Most states have compulsory liability insurance requirements which means the state requires specific limits of liability insurance coverage in order to drive the car legally. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you bought your vehicle with a loan, most lenders will require you to have physical damage coverage to guarantee loan repayment. If you default on your policy, the lender will be forced to insure your Pontiac at a more expensive rate and require you to pay the higher price.
- Insurance safeguards not only your car but also your assets. Insurance will also pay for many types of medical costs incurred in an accident. As part of your policy, liability insurance will also pay for a defense attorney if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance more than cancel out the cost, specifically if you ever have a liability claim. But the average American driver is currently overpaying as much as $830 a year so it’s important to compare rates at every renewal to be sure current rates are still competitive.
Learn about car insurance coverages for a Pontiac Solstice
Having a good grasp of your car insurance policy can help you determine appropriate coverage for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy.
Uninsured or underinsured coverage
This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.
Because many people have only the minimum liability required by law (25/50/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as colliding with another moving vehicle, backing into a parked car, scraping a guard rail, sideswiping another vehicle and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible on your Solstice in order to get cheaper collision rates.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as doctor visits, X-ray expenses, pain medications and prosthetic devices. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
This protects you from damage that occurs to other’s property or people by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/15 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged property.
Liability can pay for things such as legal defense fees, attorney fees, loss of income and funeral expenses. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford. Tennessee requires drivers to carry at least 25/50/15 but it’s recommended drivers buy more coverage.
The next chart shows why buying low liability limits may not be adequate coverage.
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims such as hitting a deer, damage from getting keyed, a tree branch falling on your vehicle and fire damage. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Tennessee car insurance company ratings
Ending up with the right company is hard considering how many choices drivers have in Tennessee. The company information displayed below could help you analyze which companies to look at to insure your vehicles.
Top 10 Memphis Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Memphis Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
Compare but don’t skimp
When trying to cut insurance costs, it’s not a good idea to reduce needed coverages to save money. There have been many situations where consumers will sacrifice liability limits or collision coverage only to regret they didn’t have enough coverage. The ultimate goal is to buy the best coverage you can find for the lowest cost, not the least amount of coverage.
Insureds switch companies for many reasons like delays in paying claims, policy non-renewal, questionable increases in premium or not issuing a premium refund. It doesn’t matter why you want to switch switching auto insurance companies can be pretty painless.
Low-cost Pontiac Solstice insurance in Memphis can be found on the web and from local agencies, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who may not provide rate quotes online and these regional carriers provide coverage only through independent agencies.
For more information, take a look at the resources below:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- What Auto Insurance is Cheapest for Drivers Under 25 in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Seniors? (FAQ)
- Who Has Affordable Memphis Auto Insurance Quotes for a Jeep Wrangler? (FAQ)
- What Insurance is Cheapest for College Graduates in Memphis? (FAQ)
- Who Has Affordable Auto Insurance for Teenage Females in Memphis? (FAQ)
- Anti-Lock Brake FAQ (iihs.org)
- Teen Driver Licensing Information (iihs.org)
- Older Drivers FAQ (iihs.org)