What Auto Insurance is Cheapest for a Chevrolet Equinox in Memphis?

Buying cheaper auto insurance for a Chevrolet Equinox is pretty straightforward, but it relies on a lot of factors such as whether you are male or female, if you have prior claims, and driving citations. Drivers in Tennessee pay around $1,128 each year to insure their Equinox, but that cost is an approximation calculated based on a 30-year-old single female driver with both comprehensive and collision coverage and $250 deductibles.

This brings up the issue that more than likely you may not be 30 years old (or even female), you might be married instead of single, and you may just want the cheapest liability coverage you can find. Just a slight change in rating variables could result in a significant change in the coverage rate.

This example demonstrates why the best method for finding cheap auto insurance rates for your Chevrolet is to just take the time to compare rates yourself.

Cheapest Chevrolet Equinox Insurance Rates

The specific model of Equinox has an effect on the coverage cost, so the cost to insure a Equinox LS 2WD will be $114 lower than the price to insure the more well-appointed Equinox LTZ AWD version, as shown below.

Chevrolet Equinox Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $248 $462 $390 $24 $116 $1,240 $103
Equinox LT 2WD $248 $462 $390 $24 $116 $1,240 $103
Equinox LS AWD $248 $462 $390 $24 $116 $1,240 $103
Equinox LT AWD $248 $462 $390 $24 $116 $1,240 $103
Equinox LTZ 2WD $280 $544 $390 $24 $116 $1,354 $113
Equinox LTZ AWD $280 $544 $390 $24 $116 $1,354 $113
Equinox LTZ AWD $280 $544 $390 $24 $116 $1,354 $113
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Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Estimates do not factor in zip code location which can influence coverage rates greatly.

Buying coverage from the right auto insurance company is hard considering how many choices drivers have in Memphis. The ranking data in the lists below could help you analyze which auto insurers you want to consider purchasing a policy from. These rankings are only comprised of companies that insure vehicles nationwide, so smaller companies that only insure vehicles in Tennessee are not taken into consideration for these rankings.

Top 10 Major Auto Insurance Providers in Memphis Ranked by Value

  1. Travelers
  2. American Family
  3. Safeco Insurance
  4. AAA Insurance
  5. The Hartford
  6. Progressive
  7. Erie Insurance
  8. Esurance
  9. 21st Century
  10. Titan Insurance

Top 10 Major Auto Insurance Providers in Memphis Ranked by Customer Service

  1. USAA
  2. Travelers
  3. AAA Insurance
  4. Nationwide
  5. Safeco Insurance
  6. Progressive
  7. State Farm
  8. The Hartford
  9. The General
  10. Esurance

Types of discounts on Memphis auto insurance rates

Auto insurance for an Equinox in Memphis, TNAuto insurance companies that sell policies for a Chevrolet Equinox may also give you rate discounts that can lower rates by 35% or more if you meet the requirements. Larger auto insurance companies and a selection of discounts can be read below.

The chart below visualizes the comparison of car insurance costs with and without discounts applied. The information is based on a male driver, a clean driving record, no claims, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with claim-free, safe-driver, vehicle safety, homeowner, multiple policy, and marriage discounts applied. In this example, the average savings per year on auto insurance for a Chevrolet Equinox is 28% or $482.

The importance of shopping around

Memphis, TN auto insurance rates are influenced by many factors that control the price you have to pay. Simply getting older, getting married, or getting a reckless driving citation may prompt premium changes resulting in some companies being much cheaper than others. Not only may things change on your end, but auto insurance companies amend premium rates as often as every three months in order to protect their financial rating. Higher than normal claim frequency or severity may result in high rates, while better underwriting may result in more affordable Equinox insurance rates.

To illustrate this point, the chart below demonstrates which company has the cheapest car insurance in Memphis, TN for a 30-year-old male driver with no accidents or violations, and a decent credit rating. If we look at prices based on his current risk factors, Utica National offers the lowest car insurance rates in Memphis at $1,034 annually. This is $294 less than the average premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and Tennessee Farmers are also included in the best Memphis, TN auto insurance companies.

In this example, we will give the driver in the first chart some claims, a little lower credit rating, and a traffic ticket or two. Due to the fact that every auto insurer has their own guidelines to establish rates, comparing quotes could now result in a different ranking of cheap Memphis auto insurance companies as shown below.

Erie now has the cheapest rate in Memphis, TN with Nationwide, Allied, Westfield, and GEICO now being in the top five. This example demonstrates why Tennessee drivers need to do a thorough rate comparison when trying to find the best insurance rates for a Chevrolet Equinox. Auto insurance prices are impacted by many factors and can increase or decrease at any time, so the cheapest company when you last compared rates may now cost much more than other companies.

Tips for finding cheaper auto insurance for a Chevrolet Equinox

Lowering your rates is not difficult, and here are some thrifty ideas that can help Tennessee drivers quote cheap auto insurance.

The last idea is particularly crucial, as was stressed in this article. Rates adjust often, so don’t be tentative to change insurance companies if a more affordable price is available. Brand loyalty is great, but is isn’t recommended if that stubbornness costs you money that could be going to better use. Now is a great time to compare prices and find cheaper car insurance for a Chevrolet Equinox in Memphis.