Finding good, budget insurance is tough enough, and finding out which company offers the most affordable auto insurance rates for infrequent drivers calls for even more perseverance. Every auto insurer has a unique approach for determining rates in each state, so let’s take a look at the auto insurance companies with the most affordable rates in Memphis.
It’s important to know that Memphis auto insurance rates are influenced by many factors that will increase or decrease the policy price. Improving your credit rating, buying a higher-value vehicle, or getting a few speeding tickets can trigger rate changes that can make some companies more expensive than others.
Find the Best Cheap Insurance in Tennessee
Utica National offers some of the best car insurance rates in Memphis at around $760 a year. This is $568 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA also qualify as some of the lowest-priced Memphis, TN insurance companies.
As the rates illustrate above, if you are a customer of Auto-Owners and switched to Utica National, you could earn yearly savings of about $67. Policyholders with Cincinnati Insurance might save as much as $98 a year, and Penn National customers might reduce rates by $139 a year.
To get a fast rate comparison, click here to begin a quote or quote rates from the companies below.
Bear in mind that those premium estimates are averaged across all insureds and vehicles and and are not figured with a specific vehicle garaging location for infrequent drivers. So the insurer that fits your situation best may not even be in the list above. That is why you need to compare as many prices as possible using your own individual information.
The make and model of vehicle requiring insurance is one of the primary factors when consumers are trying to find economical coverage for infrequent drivers. Vehicles with limited speed and performance, a great safety record, or a track record of few liability claims will cost substantially less to insure than fast, unsafe models. The list below illustrates coverage prices for the more affordable vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Chevrolet Impala LS | $1,790 |
| Toyota RAV4 Limited 4WD | $1,826 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,857 |
| Chevrolet Malibu LT | $1,860 |
| Dodge Grand Caravan SXT | $1,866 |
| Honda Civic EX 4-Dr Sedan | $1,885 |
| Honda CR-V LX 2WD | $1,891 |
| Ford Escape Limited 4WD | $1,914 |
| Honda Odyssey LX | $1,942 |
| Toyota Prius | $1,953 |
| GMC Sierra SLE Crew Cab 4WD | $1,956 |
| Jeep Grand Cherokee Limited 2WD | $1,966 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,959 |
| Ford Focus SES 2-Dr Coupe | $2,055 |
| Hyundai Elantra SE Touring Station Wagon | $2,061 |
| Compare Rates Now Go | |
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Table data does not factor in Memphis, TN location which can alter premium rates considerably.
Based upon the rates shown, we can expect vehicles like the Chevrolet Impala, Toyota RAV4, and Jeep Wrangler are the more affordable vehicles to insure for low mileage drivers.
One of the more important components that are used to help calculate the annual cost of car insurance is where you choose to live in Memphis. Cities with larger populations will most likely have higher rates, whereas more rural areas receive better rates.
The illustration below lists the highest-priced places in Tennessee for infrequent drivers to purchase a policy in. Memphis comes in at #1 with a yearly premium of $1,460 for car insurance, which is approximately $122 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Memphis | $1,460 |
| 2 | Bartlett | $1,405 |
| 3 | Germantown | $1,374 |
| 4 | Collierville | $1,349 |
| 5 | Jackson | $1,266 |
| 6 | Oak Ridge | $1,247 |
| 7 | Knoxville | $1,218 |
| 8 | Maryville | $1,208 |
| 9 | Spring Hill | $1,205 |
| 10 | Columbia | $1,190 |
| 11 | La Vergne | $1,186 |
| 12 | Franklin | $1,175 |
| 13 | Nashville | $1,165 |
| 14 | Chattanooga | $1,161 |
| 15 | Smyrna | $1,159 |
| 16 | Hendersonville | $1,158 |
| 17 | Clarksville | $1,158 |
| 18 | Murfreesboro | $1,148 |
| 19 | Cookeville | $1,147 |
| 20 | Brentwood | $1,144 |
| 21 | Morristown | $1,137 |
| 22 | Cleveland | $1,124 |
| 23 | Gallatin | $1,121 |
| 24 | Johnson City | $1,063 |
| 25 | Kingsport | $1,026 |
| Compare Prices Now Go | ||
Rate information is comparative as vehicle location can alter premiums greatly.
Selecting a good quality insurance company is hard considering how many companies provide coverage in Tennessee. The information in the lists below can help you analyze which companies to look at buying from. These rankings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in Tennessee are not factored into this list.
| 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 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Careless drivers pay higher rates
In a perfect world, the ideal way to enjoy cheap auto insurance prices in Tennessee for low mileage drivers is to drive cautiously and avoid getting tickets or having accidents. The diagram below demonstrates how citations and at-fault collisions influence premium costs for different age groups. The premiums assume a single female driver, full physical damage coverage, $250 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of an auto insurance policy in Memphis per year with a clean driving record and no accidents is $1,446. Receive two speeding tickets and the average cost hikes up to $1,939, an increase of $492 each year. Now get one accident along with the two speeding tickets and the 12-month cost of auto insurance for infrequent drivers increases to an average of $2,429. That’s an increase of $982, or $82 per month, just for a couple of infractions!
Here’s why you should compare rates often
Memphis auto insurance rates are calculated based on many things that will increase or decrease the policy premium. Turning one year older, buying a different vehicle, or having an accident may generate price changes that can now make some companies more affordable than before.
In addition to those changes, insurers change the rates they charge in Tennessee multiple times each year to adjust for heavy claims or excess profits. An unexpected high level of claims may result in rate increases, while less frequent claims may result in lower-cost Memphis car insurance rates.
To help illustrate this point, the graph below shows the company with the cheapest car insurance in Memphis, TN for a 30-year-old female driver with a clear driving record, no claims, and a decent credit rating. If we compare prices based on her personal risk profile, Utica National quotes the most affordable car insurance rates in Memphis at $1,039 per year. This is $289 less than the average rate paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Penn National, and USAA round out the rest of the best Memphis, TN auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example an accident claim, slightly worse credit, and a speeding ticket. Due to the fact that every insurance company has a different formula for filing rates in each state, comparing prices could now result in a substantially altered list of cheap Memphis auto insurance companies as shown below.
Erie now has the best auto insurance rate in Memphis with Allied, Nationwide, Westfield, and GEICO now being in the top five. This demonstrates why it is crucial to shop around to get the lowest auto insurance rates for infrequent drivers. Insurance prices can be altered by many different factors and can increase or decrease at any time, so the best option when you last compared rates may now be one of the higher cost companies.
Tips for finding more affordable insurance for infrequent drivers
The list below details some of the better thrifty suggestions that can help drivers get more affordable car insurance.
- Buying home and auto insurance together can earn discounts
- Buy a vehicle with excellent safety ratings
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Being accident-free can lower rates significantly
- Avoid filing excessive claims
- Shop around for cheaper prices
The last suggestion is especially important, as was noted in this write-up. Auto insurance prices in Memphis change a lot, so don’t be hesitant to change to a new company if a lower price can be found.
Having a favorite company is great, but it’s not a good idea if that loyalty results in overpaying money that could be going to better use. In just a couple of minutes you could compare rates and find cheaper auto insurance for infrequent drivers.
If you prefer to get help from a professional when trying to find lower insurance rates for low mileage drivers, the agents shown below can most likely answer your questions and help you decide which insurance coverage will be best for you.
To find a Memphis insurance agency close to where you live, click the button at the bottom of the list or click here to compare price quotes.
Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551
Boyle Insurance Agency, Inc.
5900 Poplar Ave – Memphis, TN 38119 – (901) 766-0200
Ruby Williams – State Farm Insurance Agent
3624 Austin Peay Hwy #5 – Memphis, TN 38128 – (901) 388-0000
Derrick Hodges – State Farm Insurance Agent
7249 Winchester Rd – Memphis, TN 38125 – (901) 572-1985
Ron Willis – State Farm Insurance Agent
3486 Poplar Ave #102 – Memphis, TN 38111 – (901) 454-7912