Find Affordable Chevy Impala Insurance in Memphis

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Insurance quote for Chevy Impala in MemphisUnimaginable but true, the vast majority of drivers kept buying from the same company for over three years, and almost 40% of drivers have never compared rates from other carriers. The average driver in Tennessee could pocket approximately 35% a year just by getting comparison quotes, but they underestimate the actual amount they would save if they switched to a more affordable policy.

It takes a little time, but the best way to find lower priced Chevy Impala insurance in Memphis is to start comparing rates regularly from different companies in Tennessee.

  1. Gain an understanding of the coverage provided by your policy and the measures you can take to lower rates. Many things that result in higher prices such as your driving record and a less-than-favorable credit rating can be improved by making lifestyle changes or driving safer.
  2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can quote rates from multiple sources.
  3. Compare the new rate quotes to the price on your current policy and determine if cheaper Impala coverage is available in Memphis. If you find better rates and buy the policy, make sure there is no coverage gap between policies.
  4. Notify your agent or company of your intention to cancel your current auto insurance policy and submit a down payment and signed policy application to the new company. As soon as you receive it, place the new proof of insurance paperwork in an easily accessible location.

The key thing to remember is to make sure you're comparing the same coverage limits and deductibles on each quote request and and to compare as many car insurance companies as possible. Doing this ensures the most accurate price comparison and plenty of rates choose from.

Choosing the most cost-effective insurance policy in Memphis is much easier if you know where to start. If you are already insured or are looking for a new policy, use these cost-cutting techniques to find the best rates while maximizing coverage. You just need to know the tricks to compare rates online from multiple companies.

Don't neglect these discounts on Chevy Impala insurance in Memphis

Some insurers don't necessarily list their entire list of discounts in a way that's easy to find, so the following is a list of some of the more common as well as the least known credits available to you. If you don't get every credit you qualify for, you are throwing money away.

  • Own a Home and Save - Just owning your own home can help you save on insurance since home ownership shows financial diligence.
  • College Student - College-age children who are enrolled in higher education away from home and do not take a car to college can receive lower rates.
  • Low Mileage - Maintaining low annual mileage could earn lower premium rates due to less chance of an accident.
  • Telematics Discount - Insureds that choose to allow their insurance company to scrutinize driving patterns by using a telematics device in their vehicle such as State Farm's In-Drive could possibly reduce rates if they show good driving skills.
  • Payment Discounts - If you pay your bill all at once instead of making monthly payments you may reduce your total bill.
  • Student Discount for Driver Training - Teen drivers should enroll and complete driver's education if offered at their school.
  • Renewal Discounts - Select insurance companies give a discount for switching companies before your current Impala insurance policy expires. It could save around 10% when you buy Memphis auto insurance online.
  • Passive Restraint Discount - Factory options such as air bags can qualify for discounts as much as 30%.
  • Discounts for Seat Belt Usage - Using a seat belt and requiring all passengers to buckle up can save up to 15% off PIP or medical payments premium.

It's important to note that most of the big mark downs will not be given to all coverage premiums. Most only reduce individual premiums such as medical payments or collision. Even though the math looks like you would end up receiving a 100% discount, it's just not the way it works. But any discount will definitely lower your policy premium.

The diagram below compares Chevy Impala insurance prices with and without discounts being applied to the rates. The premiums are based on a male driver, no claims or violations, Tennessee state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, homeowner, safe-driver, and marriage discounts applied.

A list of companies and a selection of discounts are included below.

  • Esurance discounts include paid-in-full, online quote, multi-car, defensive driver, multi-policy, Switch & Save, and emergency road assistance.
  • The Hartford offers discounts including anti-theft, air bag, defensive driver, vehicle fuel type, and bundle.
  • AAA has savings for AAA membership discount, good driver, good student, pay-in-full, anti-theft, multi-policy, and multi-car.
  • GEICO may have discounts that include anti-lock brakes, multi-vehicle, emergency military deployment, membership and employees, air bags, good student, and military active duty.
  • State Farm policyholders can earn discounts including multiple autos, good student, student away at school, Steer Clear safe driver discount, driver's education, defensive driving training, and anti-theft.

Before buying, ask each company what discounts are available to you. Some discounts listed above may not apply to policies in your state. If you would like to see a list of companies that offer many of these discounts in Memphis, click here.

The companies shown below can provide price quotes in Tennessee. To find the best cheap car insurance in Tennessee, it's a good idea that you visit two to three different companies in order to get a fair rate comparison.

Chevy Impala coverage analysis

The data table displayed below highlights a range of coverage costs for Chevy Impala models. Having a good understanding how car insurance premiums are established can help drivers make decisions on the best policy to buy.

Chevrolet Impala Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $216 $462 $390 $24 $116 $1,208 $101
Impala LS $216 $462 $390 $24 $116 $1,208 $101
Impala LT $248 $462 $390 $24 $116 $1,240 $103
Impala LT $248 $462 $390 $24 $116 $1,240 $103
Impala LTZ $248 $544 $390 $24 $116 $1,322 $110
Impala LTZ $248 $544 $390 $24 $116 $1,322 $110
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Price information does not factor in specific Memphis garaging location which can affect insurance rates substantially.

Raise deductibles and save

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 show the difference in cost of buying low and high insurance deductibles. The first data table uses a $100 deductible and the second set of prices uses a $500 deductible.

Chevrolet Impala insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $216 $448 $288 $18 $86 $1,081 $90
Impala LS $216 $448 $288 $18 $86 $1,081 $90
Impala LT $248 $448 $288 $18 $86 $1,113 $93
Impala LT $248 $448 $288 $18 $86 $1,113 $93
Impala LTZ $248 $528 $288 $18 $86 $1,193 $99
Impala LTZ $248 $528 $288 $18 $86 $1,193 $99
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Chevrolet Impala insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $158 $304 $288 $18 $86 $854 $71
Impala LS $158 $304 $288 $18 $86 $854 $71
Impala LT $182 $304 $288 $18 $86 $878 $73
Impala LT $182 $304 $288 $18 $86 $878 $73
Impala LTZ $182 $358 $288 $18 $86 $932 $78
Impala LTZ $182 $358 $288 $18 $86 $932 $78
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Rate information does not factor in specific garaging location which can modify auto insurance rates considerably.

Using the premium rates above, we can conclude that using a $100 deductible costs an average of $20 more each month or $240 each year across all Chevrolet Impala models than quoting the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 20 months between claims, you would most likely save money if you decide on a higher deductible.

The illustration below shows how choosing a deductible and can influence Chevy Impala insurance costs for different ages of insureds. The price estimates are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.

Should you buy full coverage?

The illustration below shows the comparison of Chevy Impala auto insurance costs with full physical damage coverage and with liability coverage only. The rate quotes are based on no tickets, no at-fault accidents, $250 deductibles, single marital status, and no additional discounts are factored in.

When to stop buying full coverage

There is no exact formula for excluding physical damage insurance, but there is a general school of thought. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let's assume your Chevy Impala replacement cost is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,000 after paying the physical damage deductible. If you are paying in excess of $600 annually for your policy with full coverage, then you may need to consider dropping full coverage.

There are some scenarios where only buying liability is not a good plan. If you haven't paid off your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle in the even your car is totaled, you should not opt for liability only.

Get Lower-cost Insurance Costs by Understanding These Factors

Many things are part of the equation when pricing auto insurance. Most are fairly basic like your driving record, although some other factors are more obscure such as your credit history or your commute time. An important part of buying insurance is that you know the factors that help determine your auto insurance rates. If you know what determines premiums, this allows you to make educated decisions that may result in lower auto insurance prices.

Men pay more for car insurance - Over the last 50 years, statistics have shown women tend to be less risk to insure than men. It does not mean females are better at driving than males. Both sexes are in at-fault accidents at a similar rate, but the men get into accidents with more damage. Not only that, but men also have more aggressive citations like reckless driving and DUI. Teenage male drivers are the most expensive to insure and therefore are the most expensive to insure.

The chart below illustrates the difference between Chevy Impala insurance prices for male and female drivers. The costs are based on no accidents or driving violations, comprehensive and collision coverage, $100 deductibles, single status, and no additional discounts are factored in.

Rates can drop if you have more than one policy - Most major insurers afford lower prices to insureds who buy several policies from them in the form of a multi-policy discount. If you currently are using one company, you still need to get quotes from other companies to help guarantee you have the best rates. Consumers may save even more than the discount even if you insure with multiple companies

Be proud to be claim-free - If you are a frequent claim filer, you can pretty much guarantee either a policy non-renewal or much higher rates. Auto insurance companies in Tennessee generally give discounts to policyholders who file claims infrequently. Your insurance policy is intended to be relied upon for more catastrophic claims.

Cheaper rates for prior coverage - Allowing your coverage to lapse is a fast way to pay more for auto insurance. And not only will your rates increase, not being able to provide proof of insurance may result in a fine, jail time, or a revoked license. You may then have to submit proof of financial responsibility or a SR-22 with the Tennessee motor vehicle department to get your license reinstated.

Do you know your deductibles? - Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your vehicle. Some examples of claims that would be covered would be a broken windshield, hail damage, and damage caused by flying debris. Your deductibles represent how much money you are required to pay in the event of a claim. The more expense you pay before a claim is paid (deductible), the lower your rates will be.

Prices and job - Did you know your auto insurance rates can be affected by your occupation? Jobs such as fire fighters, airline pilots, and dentists tend to pay higher premium rates in part from intense work requirements and lots of time spent away from family. On the flip side, careers like professors, historians and retirees receive lower rates.

Insurance loss data for Chevy Impala vehicles - Insurers use statistical claims data when they calculate premium prices for each model. Vehicles that tend to have higher prevalence or dollar amount of losses will have a higher premium rate. The information below illustrates the historical loss data for Chevy Impala vehicles.

For each coverage type, the statistical loss for all vehicles compiled together is a value of 100. Values that are below 100 indicate a favorable loss history, while numbers above 100 point to more claims or a tendency for claims to be larger.

Chevrolet Impala Insurance Claim Statistics
Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Impala 104 89 135 122 122 104
Chevrolet Impala Limited 100 115 79 142 148 153

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Insurance agencies are trained to help

Many people would rather go talk to an agent and often times that is recommended Insurance agents can help determine the best coverages and will help you if you have claims. One of the benefits of price shopping on the web is you can get lower premium rates and also buy local.

To find an agent, once you fill out this short form, your insurance coverage information gets sent to companies in Memphis that give free quotes for your auto insurance coverage. You don't have to do any legwork because prices are sent immediately to you. If you have a need to get a price quote from a specific company, just find their quoting web page and fill out their quote form.

Choosing an provider should depend on more than just the bottom line cost. These are some valid questions you should ask.

  • Does the company use OEM repair parts?
  • Will they take your side in the event of a claim?
  • Is working in the agency their full-time job?
  • Do they reduce claim amounts on high mileage vehicles?
  • Which companies can they place coverage with?
  • How often do they review coverages?

Memphis auto insurance agents come in two flavors

When searching for a reputable insurance agent or broker, you must know there are a couple different types of agents and how they are distinctly different. Auto insurance policy providers are either independent agents or exclusive agents. Either type can properly insure your vehicles, but it's important to point out why they differ since it could factor into which agent you choose.

Exclusive Agencies

Agents of this type normally can only provide a single company's rates such as State Farm, Allstate and AAA. Exclusive agents cannot provide other company's prices so they have no alternatives for high prices. They are usually well trained in insurance sales which helps them sell on service rather than price.

Below are Memphis exclusive insurance agents who can help you get price quotes.

Henry Hooper II - State Farm Insurance Agent
348 S Main St - Memphis, TN 38103 - (901) 575-0001 - View Map

6803 Summer Ave - Memphis, TN 38134 - (901) 373-6060 - View Map

680 W Brookhaven Cir - Memphis, TN 38117 - (901) 767-7744 - View Map

View more agents

Independent Agents (or Brokers)

These type of agents are not limited to a single company so they can quote policies through lots of different companies depending on which coverage is best. To move your coverage to a new company, they simply switch companies in-house and you won't have to switch agencies. If you are comparing rate quotes, it's recommended you include price quotes from a few independent agents to have the most options to choose from.

Shown below is a list of independent insurance agencies in Memphis that are able to give rate quotes.

5545 Murray Ave Ste 107 - Memphis, TN 38119 - (901) 767-3379 - View Map

8046 N Brother Blvd #101 - Memphis, TN 38133 - (901) 386-4777 - View Map

5724 Mt Moriah Rd - Memphis, TN 38115 - (901) 432-5551 - View Map

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Why you need Impala insurance in Tennessee

Despite the high cost, insurance may be required for several reasons.

  • Most states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage 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 you took out a loan on your Chevy Impala, more than likely the lender will make it a condition of the loan that you have comprehensive coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Chevy at a much higher premium rate and make you pay a much higher amount than you were paying before.
  • Insurance preserves both your Chevy Impala and your personal assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance greatly outweigh the cost, especially with large liability claims. Today the average American driver overpays more than $810 a year so you should quote and compare rates once a year at a minimum to make sure the price is not too high.

How to find a good Memphis car insurance company

Picking the right auto insurance company is difficult considering how many companies provide coverage in Memphis. The ranking information listed below could help you choose which auto insurance companies you want to consider 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

The best rates come from being thorough

We just showed you many tips how you can save on Chevy Impala insurance in Memphis. The key thing to remember is the more providers you compare, the better likelihood of getting inexpensive Memphis auto insurance quotes. Consumers could even find that the best price on insurance is with the smaller companies. They may only write in your state and offer lower car insurance rates compared to the large companies like Progressive or GEICO.

When getting Memphis auto insurance quotes online, it's not a good idea to sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice full coverage only to regret that a couple dollars of savings turned into a financial nightmare. The aim is to buy a smart amount of coverage at the lowest possible cost, not the least amount of coverage.

Low-cost Chevy Impala insurance in Memphis can be purchased online and from local insurance agents, so get free Memphis auto insurance quotes from both of them to have the best rate selection. Some insurance companies may not offer the ability to get a quote online and many times these regional carriers provide coverage only through independent insurance agents.

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