Anyone knows that auto insurance companies don’t want you comparing rates. Insureds who shop around once a year are inclined to switch companies because of the high probability of finding a lower-priced company. A recent study showed that drivers who compared price quotes annually saved on average $72 a month as compared to drivers who never compared prices.
If finding the most affordable Cadillac SRX insurance is your objective, understanding how to quote prices and compare auto insurance can help you be more efficient.
If you want to save money, the best way to find affordable auto insurance rates in Memphis is to regularly compare prices from insurers who sell auto insurance in Tennessee. Rate comparisons can be done by completing these steps.
First, learn about car insurance and the changes you can make to prevent expensive coverage. Many rating factors that result in higher rates such as careless driving and a bad credit score can be controlled by making minor changes in your lifestyle.
Second, quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like Progressive or State Farm, while agents who are independent can provide prices from multiple sources.
Third, compare the quotes to your existing rates to determine if you can save on SRX insurance. If you find a lower rate and make a switch, ensure coverage does not lapse between policies.
One key aspect of rate comparisons is to compare similar deductibles and liability limits on each quote request and to quote with as many different insurance providers as possible. Doing this provides a fair price comparison and the best price selection.
Locating the best rates in Memphis is really quite easy. If you have auto insurance now, you stand a good chance to be able to buy cheaper auto insurance using the concepts covered in this article. Vehicle owners just have to know the proper methods to compare insurance rates from many different companies online.
The best way we recommend to compare rate quotes for Cadillac SRX insurance in Memphis is to know the fact most of the larger companies actually pay money for the chance to give rate comparisons. The only thing you need to do is provide details such as your general credit rating, how many miles driven, if you’re married, and the make and model of your vehicles. Your rating data gets sent immediately to multiple companies and they respond with quotes very quickly.
To find lower cheap Cadillac SRX insurance rates now, click here and complete the quick form.
The companies in the list below provide price comparisons in Tennessee. To find cheap auto insurance in TN, we suggest you get price quotes from several of them in order to find the cheapest rates.
Choosing vehicle insurance is an important decision
Even though Memphis SRX insurance rates can get expensive, buying car insurance serves an important purpose.
- Just about all states have minimum liability requirements which means you are required to carry specific limits of liability insurance in order to drive the car. 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 have a loan on your Cadillac, more than likely the lender will make it a condition of the loan that you have comprehensive coverage to guarantee loan repayment. If you do not keep the policy in force, the lender will be forced to insure your Cadillac at a much higher premium rate and require you to reimburse them the higher price.
- Insurance protects not only your Cadillac but also your financial assets. It will also reimburse you for hospital and medical expenses that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of insuring your SRX greatly outweigh the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer is overpaying over $810 a year so it’s very important to do a rate comparison once a year at a minimum to be sure current rates are still competitive.
Rates and data analysis
The rate information displayed next showcases estimates of rate quotes for Cadillac SRX models. Having insight into how insurance policy premiums are calculated can be valuable when making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|SRX Luxury 2WD||$122||$272||$278||$16||$82||$770||$64|
|SRX Luxury AWD||$122||$272||$278||$16||$82||$770||$64|
|SRX Performance 2WD||$136||$272||$278||$16||$82||$784||$65|
|SRX Performance AWD||$136||$272||$278||$16||$82||$784||$65|
|SRX Premium 2WD||$136||$272||$278||$16||$82||$784||$65|
|SRX Premium AWD||$136||$272||$278||$16||$82||$784||$65|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle garaging location which can impact premium rates significantly.
Cost of full coverage
The illustration below compares Cadillac SRX insurance prices with full physical damage coverage and with liability coverage only. Data assumes no violations or claims, $250 deductibles, single status, and no policy discounts are applied.
Guidelines for dropping full coverage
There is no clear-cut formula for eliminating comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s assume your Cadillac SRX replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after paying your deductible. If it’s costing you more than $300 annually for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some conditions where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Discounts mean cheaper rates for Cadillac SRX insurance in Memphis
Companies don’t list every discount they offer very clearly, so we researched a few of the more common and also the lesser-known credits that may apply to you.
- Air Bags and Passive Restraints – Cars that have air bags or automatic seat belts can qualify for discounts of more than 20%.
- Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to use their safety belts could cut 10% or more off PIP or medical payments premium.
- Telematics Discount – Insureds who allow their insurance company to track driving patterns by using a telematics device in their vehicle like In-Drive from State Farm and Progressive’s Snapshot may get a rate reduction if they exhibit good driving behavior.
- Club Memberships – Joining a professional or civic organization is a good way to get lower rates when getting a Memphis auto insurance quote.
- Good Students Pay Less – Performing well in school can earn a discount of 20% or more. Most companies allow this discount well after school through age 25.
- Driver Education Discount – Cut your cost by having your teen driver enroll and complete driver’s education as it will make them better drivers and lower rates.
- Student in College – Older children who attend college more than 100 miles from Memphis without a vehicle on campus could qualify for this discount.
- More Vehicles More Savings – Purchasing coverage when you have multiple vehicles on one policy could earn a price break for each car.
- Military Rewards – Having an actively deployed family member may lower your rates slightly.
- Discounts for Government Workers – Simply working for the federal government could qualify for a slight premium decrease depending on your company.
You should keep in mind that most discounts do not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Even though it appears having all the discounts means you get insurance for free, companies don’t profit that way.
The information below compares Cadillac SRX annual premium costs with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, safe-driver, multi-car, multi-policy, and homeowner discounts applied.
Some of the larger companies that have many of the previously listed discounts include:
Before purchasing a policy, check with all the companies how many discounts you can get. Some discounts listed above may not apply to policies in every state. To see insurers with the best discounts in Tennessee, click this link.
Compare prices but buy from a local Memphis insurance agency
A lot of people just prefer to talk to an insurance agent. Agents can make sure you are properly covered and give you someone to call. A nice benefit of comparing insurance prices online is that drivers can save money and get cheaper rates and still have a local agent.
To make it easy to find an agent, after completing this simple form, the quote information is instantly submitted to local insurance agents who will give you bids to get your business. You won’t even need to search for any insurance agencies since price quotes are sent to you directly. If you need to quote rates from a specific company, don’t hesitate to go to their quote page and fill out the quote form the provide.
Picking an company should include more criteria than just the price. Get answers to these questions too.
- Do you need full coverage on every vehicle?
- How are they compensated?
- Are all drivers listed on the coverage quote?
- What insurance companies do they recommend if they are an independent agent?
- What is the agency’s Better Business Bureau rating?
- Are they primarily personal or commercial lines agents in Memphis?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Do they have designations such as AIC, CPCU, or CIC?
When looking for a local agent, there are two types of insurance agents that differ in how they can insure your vehicles. Insurance agencies can be described as either independent or exclusive. Either one can handle insurance, but it’s important to know why they differ because it can influence the kind of agent you use.
Exclusive Insurance Agencies
These type of agents have only one company to place business with and examples are AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agents are unable to compare other company’s rates so they really need to provide good service. Exclusive insurance agents are well schooled on the products they sell and that can be a competitive advantage.
The following are Memphis exclusive agents that can give you comparison quotes.
Allstate Insurance: Josh Roman
579 S Perkins Rd – Memphis, TN 38117 – (901) 683-8600 – View Map
Steve Womack – State Farm Insurance Agent
848 Cooper St – Memphis, TN 38104 – (901) 725-1919 – View Map
Kevin White – State Farm Insurance Agent
2861 Poplar Ave – Memphis, TN 38111 – (901) 652-8484 – View Map
Agents in the independent channel often have many company appointments so they can write business with any number of different companies depending on which coverage is best. If they find a lower price, the business is moved internally and the insured can keep the same agent. When comparing insurance rates, you will want to get quotes from a couple of independent agencies in order to have the best price comparison.
Listed below is a short list of independent insurance agencies in Memphis who can help you get price quote information.
Boyle Insurance Agency, Inc.
5900 Poplar Ave – Memphis, TN 38119 – (901) 766-0200 – View Map
BURFORD INSURANCE AGENCY
3325 KIRBY PKWY STE 102 – Memphis, TN 38115 – (901) 507-6873 – View Map
Kellett Insurance Agency
4608 Quince Rd – Memphis, TN 38117 – (901) 685-3008 – View Map
If you get good feedback to all your questions and a low price estimate, it’s possible that you found a car insurance agent that meets your needs to service your policy.
Auto insurance is unique, just like you
Always keep in mind that when comparing insurance from an agent or online, there really is no single plan that fits everyone. Every insured’s situation is different.
These are some specific questions can aid in determining whether or not you will benefit from professional help.
- What is the difference between personal and commercial auto insurance policies?
- Am I getting all the discounts available?
- Do I need PIP (personal injury protection) coverage in Tennessee?
- Should I rate my Cadillac SRX as pleasure use or commute?
- What is the minimum liability in Tennessee?
- Am I covered when delivering products for my home-based business?
If it’s difficult to answer those questions, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form. It is quick, free and can help protect your family.
Tennessee car insurance companies ranked
Finding the right car insurance company can be difficult considering how many choices there are in Tennessee. The company ratings in the lists below can help you pick which car insurance providers to look at when comparing rates.
Top 10 Memphis Car Insurance Companies Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- Titan Insurance
Don’t give up on cheap premiums
The cheapest Cadillac SRX insurance in Memphis can be found online and with local Memphis insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. There are still a few companies who may not have the ability to get a quote online and usually these smaller providers prefer to sell through independent insurance agents.
As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where an insured cut uninsured motorist or liability limits only to regret that they should have had better coverage. Your goal is to purchase plenty of coverage at a price you can afford while still protecting your assets.
You just read a lot of information how to find lower-cost Cadillac SRX insurance in Memphis. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Consumers could even find that the lowest priced auto insurance comes from some of the lesser-known companies.
Much more information about auto insurance in Tennessee is available on the following sites:
- Vehicle Safety Ratings (iihs.org)
- Who Has Affordable Memphis Car Insurance for a Nissan Altima? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Handicapped Drivers in Memphis? (FAQ)
- What Auto Insurance is Cheapest for Drivers with Good Credit in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Seniors? (FAQ)
- How Much is Memphis Car Insurance for Hybrid Vehicles? (FAQ)
- Teen Driver Statistics (Insurance Information Institute)
- Your Car has been Stolen: Now What? (Allstate)
- Teen Driving Statistics (GEICO)