What Car Insurance is Cheapest for Infrequent Drivers in Memphis?

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.

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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.

Cheapest Vehicles to Insure in Memphis, TN
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
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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.

How much is auto insurance in Memphis, TN?
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
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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.

Memphis, TN Auto Insurance Company Rankings
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

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.

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 RdMemphis, TN 38115(901) 432-5551

Boyle Insurance Agency, Inc.
5900 Poplar AveMemphis, TN 38119(901) 766-0200

Ruby Williams – State Farm Insurance Agent
3624 Austin Peay Hwy #5Memphis, TN 38128(901) 388-0000

Derrick Hodges – State Farm Insurance Agent
7249 Winchester RdMemphis, TN 38125(901) 572-1985

Ron Willis – State Farm Insurance Agent
3486 Poplar Ave #102Memphis, TN 38111(901) 454-7912

View map of Memphis, TN insurance agents