A recent survey discovered that most drivers in Tennessee kept their coverage with the same auto insurance company for over three years, and approximately 40% of consumers have never quoted rates to find cheaper coverage. With the average auto insurance premium being $1,847, American drivers can save as much as 46.5% each year by just comparing rate quotes, but most undervalue the actual amount they would save if they changed companies.
It takes a few minutes, but the best way to find affordable quotes for Suzuki SX4 insurance in Memphis is to compare prices at least once a year from insurance carriers who sell auto insurance in Tennessee. Rates can be compared by following these guidelines.
- Step 1: Spend some time learning about individual coverages and the factors you can control to prevent expensive coverage. Many rating criteria that cause rate increases such as distracted driving and a less-than-favorable credit history can be remedied by making lifestyle changes or driving safer. Later in this article we will cover ideas to help keep rates affordable and get bigger discounts that may have been overlooked.
- Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from one company like GEICO or Farmers Insurance, while independent agents can provide prices from many different companies.
- Step 3: Compare the quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate and decide to switch, ensure there is no coverage lapse between policies.
- Step 4: Provide written notification to your current company to cancel your current car insurance policy. Submit any necessary down payment along with the completed application to the new company. Be sure to place the new certificate of insurance in an easily accessible location in your vehicle.
One key aspect when comparing rates is that you use similar coverage information on each quote and and to compare as many different companies as possible. This helps ensure the most accurate price comparison and many rates to choose from.
Locating the most cost-effective insurance policy in Memphis is much easier if you have a good place to start. If you have a current insurance policy, you will most likely be able to reduce the price you pay using this strategy. You just have to understand the quickest way to shop their coverage around from multiple carriers.
Finding cheap car insurance rates doesn’t have to be difficult. Drivers just need to take time getting comparison quotes online with multiple companies.
It’s so simple to compare car insurance rate quotes online makes it a waste of time to drive around to different agent offices. Comparing online rate quotes has made agencies unnecessary unless you have a complicated situation and need the guidance of an agent trained in personal lines coverage. It is possible to compare online quotes but buy the policy through an agent.
The companies shown below can provide price quotes in Tennessee. To locate the best car insurance in Memphis, we suggest you visit two to three different companies in order to find the cheapest rates.
Why you need Suzuki vehicle insurance in Tennessee
Despite the high cost, insuring your vehicle serves an important purpose.
- Just about all states have compulsory liability insurance requirements which means you are required to carry a specific level of liability protection in order to license the vehicle. 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 vehicle has a loan, it’s most likely the lender will stipulate that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank may buy a policy for your Suzuki at an extremely high rate and force you to reimburse them much more than you were paying before.
- Insurance protects not only your car but also your assets. It will also cover most medical and hospital costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, will also pay to defend you in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will cover the repair costs.
The benefits of buying enough insurance outweigh the cost, especially if you ever need it. An average driver in America is overpaying more than $820 a year so you should quote your policy with other companies at every renewal to be sure current rates are still competitive.
Suzuki SX4 insurance rate analysis
The coverage information displayed below outlines a range of insurance coverage prices for Suzuki SX4 models. Having a better idea how insurance prices are formulated is important for making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|SX4 Sport S||$118||$274||$326||$20||$98||$836||$70|
|SX4 Sport SE||$118||$274||$326||$20||$98||$836||$70|
|SX4 Technology 2WD||$118||$232||$326||$20||$98||$794||$66|
|SX4 Sportback 2WD||$118||$232||$326||$20||$98||$794||$66|
|SX4 AWD AWD||$118||$232||$326||$20||$98||$794||$66|
|SX4 Sport GTS||$118||$274||$326||$20||$98||$836||$70|
|SX4 Technology AWD||$134||$232||$326||$20||$98||$810||$68|
|SX4 Touring AWD||$134||$232||$326||$20||$98||$810||$68|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price estimates do not factor in vehicle location which can alter auto insurance rates noticeably.
The information below demonstrates how deductible levels and can affect Suzuki SX4 insurance rates for different age groups. The premiums are based on a single female driver, full coverage, and no other discounts are factored in.
Illustration showing the impact of accidents and violations
The illustration below demonstrates how speeding tickets and at-fault fender-benders can drive up Suzuki SX4 car insurance rates for each age group. The data is based on a married male driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
Should you buy full coverage?
The example below illustrates the difference between Suzuki SX4 insurance costs when comparing full coverage to state minimum liability only. The information is based on no accidents or driving violations, $500 deductibles, drivers are not married, and no policy discounts are applied.
Deciding between full coverage and liability only
There isn’t a steadfast formula of when to eliminate physical damage insurance, but there is a guideline you can use. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Suzuki SX4 replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after you pay the deductible. If premium cost is more than $200 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some scenarios where only buying liability is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.
Cheap Memphis car insurance quotes with discounts
Some insurers don’t always list every policy discount very well, so below is a list both the well known and the more hidden discounts that you may qualify for. If you aren’t receiving every discount you deserve, you could be getting lower rates.
- Theft Prevention Discount – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and that can save you a little bit as well.
- Anti-lock Brake System – Vehicles with ABS braking systems or traction control can stop better under adverse conditions and therefore earn up to a 10% discount.
- Include Life Insurance and Save – Some insurance carriers give a break if you buy some life insurance too.
- Seat Belts Save more than Lives – Requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Driver’s Ed – Have your child take driver’s ed class in high school.
- Auto/Home Discount – If you have multiple policies with one company they may give you a discount of nearly 15% which can help you find affordable Suzuki SX4 insurance rates in Memphis.
- Membership in Organizations – Participating in qualifying clubs or civic groups could qualify you for a break when getting a Memphis auto insurance quote.
- Safe Driver Discounts – Insureds without accidents may save up to 50% more compared to rates paid by drivers with frequent claims.
- Distant Student Discount – Older children who are attending college and don’t have a car may be able to be covered for less.
Don’t be shocked that most discounts do not apply to the entire cost. Most only cut individual premiums such as physical damage coverage or medical payments. Just because it seems like you can get free auto insurance, car insurance companies aren’t that generous. Any qualifying discounts will cut the amount you have to pay.
The information below illustrates the comparison of Suzuki SX4 annual premium costs with and without some available policy discounts. The costs are based on a female driver, no claims, a clean driving record, Tennessee state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, multi-policy, homeowner, and safe-driver discounts applied.
To locate car insurance companies with the best discounts in Memphis, click here to view.
Comparing quotes from local Memphis insurance agents
Some consumers just prefer to talk to a local agent and we recommend doing that Insurance agents can help you choose the best coverages and give you someone to call. The best thing about comparing rates online is that you can find cheaper rates and still buy from a local agent.
For easy comparison, once you complete this short form, your insurance coverage information is instantly submitted to insurance agents in Memphis that can give you free Memphis auto insurance quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact any insurance agencies as quotes are delivered to you directly. If you want to compare rates from a specific insurance provider, feel free to jump over to their website and fill out their quote form.
Selecting an provider should include more criteria than just a cheap quote. Agents should be asked these questions:
- Does the agent have professional designations like CIC, CPCU or AIC?
- Has the agent ever had any license suspensions?
- By raising physical damage deductibles, how much would you save?
- Do they have cheaper tiers of coverage?
- Is there a 24/7 contact number?
- Do they offer rental car reimbursement?
- Will high miles depreciate repair valuations?
- If your car is totaled, how to they determine the replacement cost?
Two types of Memphis car insurance agents
When researching a local agent, it helps to know the two types of insurance agents that you can select. Insurance agencies in Memphis can be classified as either independent agents or exclusive agents depending on their employer. Both can write insurance policies, but it is important to understand why they differ since it may influence your agent selection.
Exclusive agents normally can only provide a single company’s rates and examples are Allstate, State Farm and Farmers Insurance. Exclusive agents cannot compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are well trained on sales techniques and that allows them to sell at a higher price point.
Shown below is a short list of exclusive insurance agencies in Memphis who may provide you with rate quotes.
Henry Hooper II – State Farm Insurance Agent
348 S Main St – Memphis, TN 38103 – (901) 575-0001 – View Map
Independent Agencies or Brokers
Agents in the independent channel do not work for one specific company and that enables them to quote your coverage through lots of different companies and get the cheapest rates. If you are not satisfied with one company, an independent agent can move your coverage which requires no work on your part. When comparing rates, you will want to compare prices from multiple independent agents to get the best comparison.
Listed below are Memphis independent agents that are able to give price quotes.
Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159 – View Map
Memphis car insurance company ratings
Choosing the highest-rated auto insurance provider can be rather challenging considering how many different insurance companies sell coverage in Memphis. The company rank data in the lists below could help you analyze which auto insurers to look at purchasing coverage from.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Lower-priced auto insurance in Memphis can be sourced from both online companies and from local agencies, and you need to comparison shop both to have the best rate selection. A few companies do not offer rate quotes online and most of the time these regional carriers prefer to sell through independent agents.
When buying insurance coverage, make sure you don’t reduce needed coverages to save money. In many cases, an accident victim reduced collision coverage and discovered at claim time that it was a big error on their part. The aim is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.
Even more information is located in the articles below:
- All About Airbag Safety (State Farm)
- Who Has Cheap Auto Insurance Rates for Unemployed Drivers in Memphis? (FAQ)
- Who Has Cheap Auto Insurance Rates for Real Estate Agents in Memphis? (FAQ)
- Who Has Cheap Car Insurance Rates for a Dodge Grand Caravan in Memphis? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a 20 Year Old Male in Memphis? (FAQ)
- How Much are Car Insurance Quotes for a Chevrolet Silverado in Memphis? (FAQ)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)