How Much is Car Insurance for Drivers with a Bad Driving Record in Memphis?

One of the more important components that are used to help calculate the amount you pay for auto insurance is your address in Memphis. Cities with larger populations tend to pay more, whereas less populated areas receive better rates.

The next table sorts the priciest cities in Tennessee for drivers with a bad driving record to purchase car insurance in. Memphis is listed at #1 with the yearly price of $1,490 for car insurance, which is about $124 each month.

How much does auto insurance cost in Memphis?
Rank City Annual Rate
1 Memphis $1,490
2 Bartlett $1,377
3 Collierville $1,363
4 Germantown $1,360
5 Jackson $1,266
6 Oak Ridge $1,247
7 Knoxville $1,218
8 Nashville $1,201
9 Spring Hill $1,193
10 Columbia $1,190
11 Maryville $1,172
12 Chattanooga $1,161
13 Smyrna $1,159
14 Murfreesboro $1,159
15 Clarksville $1,158
16 La Vergne $1,151
17 Cookeville $1,147
18 Brentwood $1,144
19 Franklin $1,140
20 Hendersonville $1,136
21 Gallatin $1,133
22 Morristown $1,125
23 Cleveland $1,102
24 Johnson City $1,073
25 Kingsport $1,068
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Premium costs are approximated as the specific Memphis residence address can change coverage prices noticeably.

The type of vehicle you are insuring is probably the largest consideration that determines whether or not you can buy the cheapest coverage for drivers with a bad driving record. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of liability claims will cost substantially less to insure than fast, unsafe models.

The data below estimates car insurance premiums for a selection of the cheaper automobiles to insure in Tennessee.

Cheapest Vehicles to Insure in Memphis, TN
Vehicle Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $5,745
Honda CR-V LX 4WD $5,755
Ford Escape XLT 4WD $5,750
Toyota Prius $6,132
Ford Explorer XLT 4WD $6,505
Ford F-150 XL Regular Cab 4WD $6,513
Toyota RAV4 Limited 2WD $6,533
Honda Odyssey EX $6,668
Toyota Camry LE $6,735
Chevrolet Equinox LS 2WD $6,743
Volkswagen Jetta LE 4-Dr Sedan $6,735
Dodge Grand Caravan Crew $6,805
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $6,815
Chevrolet Impala LTZ $6,833
Toyota Corolla LE $6,838
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Data rating is based on single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in zip code location which can revise premiums noticeably.

Looking at the rates, we can assume that cars like the Hyundai Elantra, Honda CR-V, Ford Escape, Toyota Prius, and Ford Explorer are most likely to be the most economical vehicles to insure for bad drivers. Car insurance rates will trend higher just because there is more claim exposure for drivers with a bad driving record, but overall those particular vehicles will have the least expensive rates compared to other types of vehicles.

Deciphering which insurers offer the cheapest insurance rates for drivers with a bad driving record may require more time in order to find the best price.

Every insurance provider has a proprietary formula to set their prices, so let’s take a look at the insurance companies that tend to have lower prices in Tennessee. It’s important that readers know that Memphis insurance rates are determined by lots of factors that control the price you have to pay. Simply turning a year older, increasing deductibles, or getting a speeding ticket can cause premium changes resulting in some companies being much cheaper than others.

Best Car Insurance Prices for Imperfect Drivers

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Who has the cheapest car insurance in Tennessee?
Rank Company Cost Per Year
1 Utica National $737
2 Auto-Owners $836
3 Cincinnati Insurance $858
4 Penn National $899
5 USAA $919
6 Tennessee Farmers $933
7 Erie $987
8 Nationwide $1,002
9 Allied $1,029
10 Westfield $1,079
11 GEICO $1,110
12 State Farm $1,165
13 Shelter $1,187
14 Travelers $1,213
15 Progressive $1,214
16 Direct General $1,238
17 State Auto $1,254
18 The Hartford $1,258
19 Chubb $1,290
20 21st Century $1,300
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Utica National quotes some of the lowest car insurance rates in Memphis at around $737 per year. This is $591 less than the average policy premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA also are some of the lowest-priced Memphis, TN insurance companies.

As shown above, if you have coverage with Auto-Owners and switched to Utica National, you might see an annual premium reduction of around $99. Insureds with Cincinnati Insurance may save as much as $121 a year, and Penn National policyholders might lower prices by $162 a year.

If you want to find out if you’re overpaying, click here to begin a quote or visit any of the companies below.

It’s important to note that these policy prices are averaged for all insureds and vehicles and are not factoring in an exact zip code location for drivers with a bad driving record. So the auto insurance company that fits your needs best may not even be in the list above. That underscores the importance of why you need to quote rates from many companies using your own personalized driver profile and vehicle information.

Cost of full coverage in Memphis

Reducing the cost of insurance is important to the majority of people, and a great way to buy cheap insurance for drivers with a bad driving record is to buy liability only. The example below illustrates the comparison of insurance prices with full physical damage coverage and with liability coverage only. The premiums assume no claims, a clean driving record, $100 deductibles, single status, and no additional discounts are factored in.

Averaged for all ages 20 through 70, physical damage coverage on your policy costs $2,260 per year more than just insuring for liability. That amount may make you wonder if buying full coverage is a good investment. There is no clear-cut rule that works best for making the decision to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s claim settlement value is $4,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,500 after paying the physical damage deductible. If premium cost is more than $350 a year for full coverage, then it may be the right time to buy liability only.

There are some situations where removing full coverage is not recommended. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.

Selecting the highest-rated insurer can be rather challenging considering how many different companies sell coverage in Memphis. The ranking information shown below may help you analyze which auto insurers to look at comparing rates from.

These rankings are only made up of companies with a national presence, so companies that may only write in Tennessee are not included in the list. To check prices from these and other top-rated companies, just click here.

Top 10 Large Car Insurance Companies Overall in Memphis

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

You are probably paying too much for car insurance

Memphis, TN insurance rates are determined by lots of factors which can substantially change the price you have to pay. Improving your credit rating, moving to a different location, or getting a speeding ticket can produce rate changes that can cause some rates to be affordable when they were higher priced.

In addition to those changes, insurance companies file new Tennessee auto insurance rates at least once a year as an adjustment for underwriting gains or losses. A period of increased losses can cause price increases, while a better loss history may cause lower-cost Memphis car insurance rates.

To illustrate this example, the data below shows rates for the cheapest car insurance in Memphis, TN for a 35-year-old male driver with a clean driving record, no accidents, and a high credit rating. When quoting prices based on his personal risk profile, Utica National has the lowest car insurance rates in Memphis at $1,076 each year. This is $252 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA are the remainder of the most affordable Memphis, TN auto insurance companies.

In the next rate comparison, we’ll give the driver from the first example a chargeable accident, poor credit, and a speeding ticket. Because each company has their own guidelines to determine rates, getting updated rate quotes most likely will result in a slightly different list of affordable Memphis car insurance companies as shown below.

Erie now has the cheapest insurance rate in Memphis, TN with Allied, Nationwide, Westfield, and Auto-Owners also being competitive. This example proves why it is important to perform an extensive rate comparison to find the lowest insurance quotes for drivers with a bad driving record.

Insurance prices are calculated by many factors and change substantially, so the best company when you last compared rates may now be one of the higher cost companies.

The agents below can answer your questions and help you decide which coverage fits your budget, since some drivers aren’t sure which coverage they need and prefer to get some help when shopping around for cheaper insurance for drivers with a bad driving record. It can be time-consuming to find the cheapest rates, so getting advice from a licensed Tennessee insurance agent can bring comfort knowing your policy gives you adequate protection. To locate a Memphis auto insurance agent near you, click the button link following the list.

Allstate Insurance: Josh Roman
579 S Perkins RdMemphis, TN 38117(901) 683-8600

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

Kevin White – State Farm Insurance Agent
2861 Poplar AveMemphis, TN 38111(901) 652-8484

View more Memphis, TN insurance agencies