What Car Insurance is Cheapest for Immigrants in Memphis?

The words “bargain” and “insurance” probably shouldn’t be used together, in particular when you are shopping around for the cheapest auto insurance for immigrants. Let’s start the ball rolling by going over some of the things that significantly impact auto insurance prices, and find a few ways to reduce the price of the next policy you buy.

The car, truck, or SUV driven is a large consideration that determines whether or not you find the most economical coverage for immigrants. Vehicles with average performance, modern passenger safety features, or a low likelihood of liability claims will cost quite a bit less to insure than fast, unsafe models.

The information below outlines auto insurance premiums for some of the more affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Memphis, TN
Vehicle Insured Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $1,642
Ford Escape XLS 4WD $1,647
Honda CR-V LX 4WD $1,798
Dodge Grand Caravan CV $1,841
Ford Explorer XLT 4WD $1,848
Chevrolet Malibu LS $1,948
Chevrolet Equinox LS AWD $1,954
Nissan Altima 2.5 4-Dr Sedan $1,948
Toyota Camry LE $1,955
Toyota Prius $2,000
Chevrolet Impala LTZ $2,052
Toyota Corolla S $2,059
Toyota Tacoma X-Runner 2WD $2,052
Ford Edge Sport AWD $2,060
GMC Sierra SLE Crew Cab 2WD $2,090
Volkswagen Jetta 2.0T Station Wagon $2,119
GMC Sierra 3500HD SLE Crew Cab 2WD $2,127
Jeep Wrangler Unlimited Rubicon 4WD 4-Dr $2,145
Ford Focus S 4-Dr Sedan $2,148
Toyota RAV4 Sport 4WD $2,194
Jeep Grand Cherokee Laredo 4WD $2,203
Hyundai Elantra Blue 4-Dr Sedan $2,202
Kia Optima SX $2,226
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Price estimates do not factor in vehicle location which can lower or raise rates noticeably.

Looking at the data, you can conclude that cars like the Honda Accord, Ford Escape, Honda CR-V, and Dodge Grand Caravan should be some of the more affordable vehicles to insure for foreigners.

For foreigners, one of the more important considerations that determine car insurance rates is where you live. Areas with more people or higher crime rates will most likely pay more, whereas areas with less congestion have the luxury of cheap car insurance rates.

The information below sorts the most expensive places in Tennessee for immigrants to purchase a policy in. Memphis comes in at #1 costing $1,490 for the average policy, which is about $124 per month.

How much is car insurance in Memphis?
Rank City Annual Premium
1 Memphis $1,490
2 Germantown $1,374
3 Bartlett $1,363
4 Collierville $1,323
5 Oak Ridge $1,260
6 Jackson $1,253
7 Maryville $1,208
8 Nashville $1,201
9 La Vergne $1,197
10 Knoxville $1,194
11 Columbia $1,190
12 Murfreesboro $1,183
13 Clarksville $1,170
14 Smyrna $1,159
15 Spring Hill $1,157
16 Chattanooga $1,149
17 Cookeville $1,147
18 Hendersonville $1,136
19 Brentwood $1,133
20 Gallatin $1,133
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Annual rates are comparative as the garaging address in Memphis can affect auto insurance rates considerably.

How much more does full coverage cost in Memphis?

Reducing the cost of car insurance is important to most vehicle owners, and one way to pay less for insurance for immigrants is to only buy liability coverage. The information below illustrates the difference between auto insurance costs with full coverage and liability only. The data is based on no claims, a clean driving record, $1,000 deductibles, marital status is single, and no policy discounts are applied.

If the expense is averaged for all age categories, comp and collision coverage costs $1,217 per year over and above liability coverage. Many drivers will wonder if you should buy full coverage at all. There is no definitive formula of when to stop paying for full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

There are a few cases where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.

Selecting the best insurance provider can be a challenge considering how many choices drivers have in Memphis. The company ratings below can help you pick which insurers to look at when trying find the best insurance for immigrants.

These ratings are only made up of companies that insure vehicles nationwide, so companies that may only write in Tennessee are not included in the list. To compare price quotes from these top-rated insurers and more, follow this link.

Top 10 Major Auto Insurance Companies in Memphis Ranked by A.M. Best Rating

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Esurance – A+
  6. Progressive – A+
  7. Titan Insurance – A+
  8. The Hartford – A+
  9. Allstate – A+
  10. Nationwide – A+

Top 10 Major Auto Insurance Companies in Memphis Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

How to find more affordable car insurance for immigrants

The list below shows some of the better thrifty solutions that can help Tennessee drivers buy more affordable coverage.

That last piece of advice is extraordinarily significant, as we discussed in the prior article. Rates go up and down frequently, so don’t be hesitant to buy a policy from a new company if a more affordable rate is found. Being loyal to a particular company is commendable, but it’s not a great idea if that inflexibility results in costing you a considerable chunk of change every month. Spend a few minutes and shop around and find cheaper insurance for immigrants in Memphis.