Save Money on Honda Civic Insurance in Memphis

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It's safe to assume that auto insurance companies want to keep you from comparing prices. Drivers who shop for lower rates will probably switch companies because the odds are good of finding a policy with more affordable rates. A survey found that consumers who regularly compared rates saved $72 a month compared to people who never compared prices.

If finding the cheapest rates on Honda Civic insurance is why you're reading this, understanding how to shop and compare insurance premiums can help simplify the task of finding more affordable coverage.

Insurance rates Honda Civic in MemphisIf you want to save money, the best way to save on Honda Civic insurance is to compare prices at least once a year from different companies in Memphis. You can compare prices by completing these steps.

  • Step 1: Read and learn about auto insurance and the changes you can make to prevent expensive coverage. Many rating factors that result in higher prices like traffic citations, accidents, and a negative credit history can be improved by being financially responsible and driving safely. Keep reading for tips to get cheaper rates and get additional discounts.
  • Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive and State Farm, while independent agencies can give you price quotes from multiple sources.
  • Step 3: Compare the new rate quotes to your existing policy to see if cheaper Civic coverage is available. If you find a lower rate and switch companies, make sure there is no lapse in coverage.
  • Step 4: Notify your current company of your intention to cancel your current coverage and submit the required down payment along with the signed application to the new insurer. As soon as you receive it, put the certificate of insurance in an easily accessible location.

One key aspect when comparing rates is to make sure you enter similar deductibles and liability limits on each quote and and to get rate quotes from as many auto insurance providers as possible. This helps ensure an apples-to-apples comparison and the best price quote selection.

When comparison shopping, comparing more prices will improve the odds of getting a lower rate than you're paying now.

The companies shown below offer free rate quotes in Tennessee. To buy the best cheap car insurance in Memphis, TN, we suggest you visit as many as you can to get the best price comparison.

Rates and statistics

The premium information below showcases different coverage costs for Honda Civic models. Being able to understand how insurance policy premiums are figured can help guide drivers when making smart buying decisions.

Honda Civic Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Civic DX 4-Dr Sedan $152 $320 $278 $16 $82 $848 $71
Civic VP 4-Dr Sedan $152 $376 $278 $16 $82 $904 $75
Civic LX 4-Dr Sedan $152 $376 $278 $16 $82 $904 $75
Civic DX 2-Dr Coupe $152 $376 $346 $20 $104 $998 $83
Civic EX 4-Dr Sedan $152 $376 $278 $16 $82 $904 $75
Civic LX-S 4-Dr Sedan $152 $376 $278 $16 $82 $904 $75
Civic LX 2-Dr Coupe $152 $434 $346 $20 $104 $1,056 $88
Civic EX-L 4-Dr Sedan $174 $434 $278 $16 $82 $984 $82
Civic SI 4-Dr Sedan $174 $434 $278 $16 $82 $984 $82
Civic EX 2-Dr Coupe $174 $434 $346 $20 $104 $1,078 $90
Civic GX 4-Dr Sedan $174 $434 $278 $16 $82 $984 $82
Civic EX-L 2-Dr Coupe $174 $434 $346 $20 $104 $1,078 $90
Civic Hybrid 4-Dr Sedan $196 $376 $278 $16 $82 $948 $79
Civic SI 2-Dr Coupe $196 $490 $346 $20 $104 $1,156 $96
Get Your Own Custom Quote Go

Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Information does not factor in specific location which can lower or raise price quotes considerably.

Can higher deductibles save money?

One of the more difficult decisions when buying car insurance is the level to set your comp and collision deductibles. The rates shown below can help illustrate how much more you'll pay between high and low policy deductibles. The first set of rates uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.

Honda Civic insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Civic DX 4-Dr Sedan $216 $448 $288 $18 $86 $1,081 $90
Civic VP 4-Dr Sedan $216 $528 $288 $18 $86 $1,161 $97
Civic LX 4-Dr Sedan $216 $528 $288 $18 $86 $1,161 $97
Civic DX 2-Dr Coupe $216 $528 $360 $22 $108 $1,259 $105
Civic EX 4-Dr Sedan $216 $528 $288 $18 $86 $1,161 $97
Civic LX-S 4-Dr Sedan $216 $528 $288 $18 $86 $1,161 $97
Civic LX 2-Dr Coupe $216 $608 $360 $22 $108 $1,339 $112
Civic EX-L 4-Dr Sedan $248 $608 $288 $18 $86 $1,273 $106
Civic SI 4-Dr Sedan $248 $608 $288 $18 $86 $1,273 $106
Civic EX 2-Dr Coupe $248 $608 $360 $22 $108 $1,371 $114
Civic GX 4-Dr Sedan $248 $608 $288 $18 $86 $1,273 $106
Civic EX-L 2-Dr Coupe $248 $608 $360 $22 $108 $1,371 $114
Civic Hybrid 4-Dr Sedan $280 $528 $288 $18 $86 $1,225 $102
Civic SI 2-Dr Coupe $280 $688 $360 $22 $108 $1,483 $124
Get Your Own Custom Quote Go
Honda Civic insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Civic DX 4-Dr Sedan $120 $236 $288 $18 $86 $748 $62
Civic VP 4-Dr Sedan $120 $278 $288 $18 $86 $790 $66
Civic LX 4-Dr Sedan $120 $278 $288 $18 $86 $790 $66
Civic DX 2-Dr Coupe $120 $278 $360 $22 $108 $888 $74
Civic EX 4-Dr Sedan $120 $278 $288 $18 $86 $790 $66
Civic LX-S 4-Dr Sedan $120 $278 $288 $18 $86 $790 $66
Civic LX 2-Dr Coupe $120 $320 $360 $22 $108 $930 $78
Civic EX-L 4-Dr Sedan $138 $320 $288 $18 $86 $850 $71
Civic SI 4-Dr Sedan $138 $320 $288 $18 $86 $850 $71
Civic EX 2-Dr Coupe $138 $320 $360 $22 $108 $948 $79
Civic GX 4-Dr Sedan $138 $320 $288 $18 $86 $850 $71
Civic EX-L 2-Dr Coupe $138 $320 $360 $22 $108 $948 $79
Civic Hybrid 4-Dr Sedan $156 $278 $288 $18 $86 $826 $69
Civic SI 2-Dr Coupe $156 $362 $360 $22 $108 $1,008 $84
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Table data does not factor in zip code location which can raise or lower coverage rates significantly.

Based on this data, using a $100 deductible would cost the average driver about $33 more each month or $396 annually across all Honda Civic models than buying the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to go at least 27 months between claim filings, you would save money going with the higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $100 deductibles: $105
Average monthly premium for $1,000 deductibles (subtract): - $72
Monthly savings from raising deductible: $33
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 27 months

The information below illustrates how your choice of deductibles and can change Honda Civic insurance rates for each different age group. Data assumes a married female driver, comp and collision included, and no discounts are factored in.

Annual premiums comparing men and women in Memphis

The diagram below shows the comparison of Honda Civic insurance costs for male and female drivers. The costs are based on no claims or violations, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are taken into consideration.

How much more does full coverage cost in Memphis?

The illustration below shows the difference between Honda Civic annual premium costs with and without full coverage. The price estimates are based on no accidents, no driving violations, $250 deductibles, marital status is single, and no policy discounts are applied.

Guidelines for dropping full coverage

There is no definitive rule to eliminate full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let's pretend your Honda Civic settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $4,000 after the deductible is paid. If it's costing in excess of $400 annually for full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not opt for liability only.

Three reasons to insure your Civic

Despite the high cost of buying insurance for a Honda Civic in Memphis, paying for car insurance may be required for several reasons.

  • Most states have compulsory liability insurance requirements which means state laws require a specific minimum amount of liability insurance if you don't want to risk a ticket. 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 your Honda Civic has a lienholder, almost all lenders will require you to have insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank will be required to insure your Honda at a more expensive rate and require you to reimburse them for the expensive policy.
  • Insurance safeguards not only your Honda but also your financial assets. It will also pay for most medical and hospital costs that are the result of an accident. Liability insurance also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, your car insurance policy will cover the damage repairs after a deductible is paid.

The benefits of having car insurance definitely exceed the price paid, particularly if you ever have a claim. According to a 2015 survey, the average American driver is wasting up to $830 a year so shop around once a year at a minimum to save money.

Learn How to Lower Your Insurance Prices

Smart consumers have a good feel for the rating factors that help calculate auto insurance rates. If you understand what controls the rates you pay, this enables you to make decisions that could result in cheaper rates.

The items below are some of the most common factors auto insurance companies consider when setting premiums.

More traffic equals higher rates - Being located in less populated areas of the country is a good thing when trying to find low car insurance rates. People in densely populated areas tend to have traffic congestion and higher rates of accident claims. Less people living in that area translates into fewer accidents and a lower car theft rate.

Is your vehicle theft-ready? - Selecting a car model with a theft deterrent system can save you some money. Theft prevention devices such as GM's OnStar, tamper alarm systems and vehicle immobilizers all help prevent your vehicle from being stolen.

Save money with higher coverage deductibles - Insurance for physical damage, also called 'full coverage', protects your Honda from damage. Some examples of covered claims are a broken windshield, damage caused by hail, or theft. Comprehensive and collision coverage deductibles represent how much money you are required to pay before your auto insurance pays a claim. The more expense the insured has to pay upfront, the lower your rates will be.

Insure car and home with the same company - Most larger companies will award lower prices to policyholders who buy several policies from them in the form of a multi-policy discount. Even though this discount sounds good, consumers should still get quotes from other companies to guarantee you are still saving the most.

Marriage is a good thing - Getting married can actually save you money when buying auto insurance. Having a spouse may mean you are more mature than a single person and it's statistically proven that married drivers tend to file fewer claims.

Do you have a demanding job? - Careers like lawyers, police officers, and emergency personnel tend to pay the highest rates attributed to high stress levels and long work hours. Other careers such as scientists, engineers and the unemployed get better rates.

With age comes responsibility - More mature drivers are viewed as being more responsible, statistically cause fewer accidents, and are safer drivers. Inexperience drivers have been known to be more careless when driving with friends so auto insurance rates are higher.

The following chart uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

Insurance loss statistics a Honda Civic - Auto insurance companies analyze the history of losses when setting rates for each model. Vehicles that the data determines to have higher frequency or amount of claims will cost more for coverage.

The table below outlines the historical insurance loss data for Honda Civic vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is equal to 100. Numbers under 100 suggest losses that are better than average, while percentages above 100 point to more claims or an increased chance of larger losses than average.

Honda Civic Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda Civic 92 105 68 127 135 121
Honda Civic Hybrid 90 85 106 105 78
Honda Civic Si 126 97 117 124 104

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Tennessee car insurance company ratings

Buying coverage from the highest-rated car insurance company can be a challenge considering how many companies there are to choose from in Tennessee. The ranking information displayed below can help you pick which car insurance companies to look at when shopping around.

Top 10 Memphis Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Allstate
  3. Nationwide
  4. State Farm
  5. GEICO
  6. Liberty Mutual
  7. American Family
  8. Esurance
  9. AAA Insurance
  10. Titan Insurance

Top 10 Memphis Car Insurance Companies Overall

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

Affordable coverage is out there

When getting Memphis car insurance quotes online, it's very important that you do not reduce coverage to reduce premium. There have been many situations where drivers have reduced collision coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to purchase plenty of coverage for the lowest cost but still have enough coverage for asset protection.

You just read a lot of information how to get a better price on Honda Civic insurance in Memphis. It's most important to understand that the more rate comparisons you have, the better chance you'll have of finding cheaper Memphis car insurance quotes. Consumers may even find the lowest car insurance rates are with a small mutual company.

Consumers leave their current company for any number of reasons including unfair underwriting practices, questionable increases in premium, policy non-renewal or being labeled a high risk driver. Regardless of your reason for switching companies, finding the right auto insurance provider is less work than it seems.

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