If saving the most money is your goal, then the best way to find lower priced Chevy Volt insurance in Memphis is to compare prices annually from insurance carriers that sell auto insurance in Tennessee. Rate comparisons can be done by following these steps.
- First, try to learn about how insurance works and the changes you can make to drop your rates. Many risk factors that cause high rates like traffic citations, accidents, and a low credit score can be rectified by making lifestyle changes or driving safer.
- Second, request rate estimates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while agents who are independent can quote prices from multiple insurance companies. View companies
- Third, compare the price quotes to your current policy premium to determine if switching companies saves money. If you can save some money and decide to switch, make sure there is no coverage gap between policies.
- Fourth, give notification to your current company to cancel your current car insurance policy. Submit a completed application and payment to your new insurance company. When you receive it, put the certificate of insurance in an easily accessible location in your vehicle.
An important bit of advice to remember is to compare similar coverage information on each quote and and to get quotes from as many car insurance companies as possible. This ensures the most accurate price comparison and a better comparison of the market.
It’s easy to assume that car insurance companies don’t want policyholders to shop around. Insureds who get comparison quotes at least once a year will, in all likelihood, switch companies because there is a significant possibility of finding coverage at a cheaper rate. A recent car insurance study discovered that people who made a habit of comparing rate quotes saved as much as $860 a year compared to drivers who never shopped around for cheaper prices.
If finding discount rates on insurance is the reason you’re reading this, then having an understanding of how to shop for insurance rates can help make the process easier and more efficient.
Getting quotes for affordable policy in Memphis is not as confusing as people think. If you have insurance now or are looking for a new policy, follow these tips to buy cheaper insurance and still have adequate protection. Shoppers just need to learn the quickest method to compare insurance rates online.
The method we recommend to compare car insurance company rates for Chevy Volt insurance in Memphis is to take advantage of the fact all the major auto insurance companies actually pay money for the chance to compare their rates. All consumers are required to do is provide information including deductibles desired, daily mileage, driver details, and marital status. Those rating factors is instantly provided to multiple companies and you receive quotes immediately.
To get price quotes for your car now, click here and complete the form.
The companies shown below are our best choices to provide price comparisons in Tennessee. If multiple companies are listed, we suggest you visit several of them to get the lowest price.
Seven factors that impact insurance prices
A large part of saving on insurance is knowing the factors that come into play when calculating your insurance rates. If you have some idea of what determines base rates, this helps enable you to make changes that can earn you cheaper rates. Multiple criteria are used when premium rates are determined. Some factors are common sense like an MVR report, but some are not as apparent such as whether you are married or your commute time.
Premiums and employer – Occupational choices like judges, social workers, and dentists tend to pay higher rates than the rest of us in part from intense work requirements and lots of time spent away from family. On the other hand, careers such as scientists, students and retirees receive lower rates.
Responsible drivers pay the best costs – Even one driving citation could increase your next policy renewal twenty percent or more. Drivers who don’t get tickets receive lower rates than bad drivers. Drivers who have license-revoking violations like DUI, reckless driving or excessive speeding may find that they have to to prove financial responsibility with their state in order to legally drive.
Save money with good credit – Credit rating is a big factor in determining premium rates. If your credit score can use some improvement, you could potentially save money when insuring your Chevrolet Volt by taking the time to improve your credit score. Drivers who have very good credit scores tend to be less risk to insure than those with worse credit.
Does insurance cost more for men? – Over the last 50 years, statistics have shown that women are safer drivers than men. That doesn’t necessarily mean that men are worse drivers. Women and men are responsible for fender benders in similar numbers, but the male of the species cause more damage and cost insurance companies more money. Not only are claims higher, but men have more aggressive citations such as reckless driving. Young men ages 16 to 20 tend to get in the most accidents and therefore have the most expensive insurance rates.
Liability coverage is peace of mind – Liability coverage will protect you in the event that a court rules you are at fault for causing damage or personal injury in an accident. Liability insurance provides legal defense coverage up to the limits shown on your policy. It is affordable coverage compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
Lower rates come with age – Teen drivers in Tennessee are known to be more careless when driving so insurance rates are higher. More mature drivers are more responsible, tend to cause fewer accidents, and are safer drivers.
More performance means higher rates – The performance of the vehicle you are insuring makes a significant difference in how high your rates are. Smaller low performance passenger cars generally have the cheapest insurance rates, but many other things help determine your insurance rates.
Insurance losses for a Chevy Volt – Companies include the past claim trends for vehicles to help determine the price you pay. Vehicles that the data shows to have higher loss trends will have higher rates. The table below outlines the compiled insurance loss statistics for Chevy Volt vehicles.
For each type of coverage, the statistical loss for all vehicles averaged together equals 100. Numbers that are below 100 suggest a positive loss record, while numbers shown that are more than 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Chevrolet Volt Electric | 89 | 83 | 81 | 71 | 73 | 90 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need Chevy vehicle insurance in Tennessee
Even though it’s not necessarily cheap to insure a Chevy in Memphis, paying for auto insurance is required in Tennessee but it also protects you in many ways.
- The majority of states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability insurance if you drive a 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 you bought your Chevy Volt with a loan, it’s most likely the lender will require you to carry insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank may insure your Chevy at a much higher rate and force you to reimburse them for it.
- Auto insurance protects not only your car but also your financial assets. It will also cover many types of medical costs for not only you but also any passengers injured in an accident. Liability coverage also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you have damage to your Chevy as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of having insurance greatly outweigh the cost, particularly if you ever have a claim. Unknowingly, the average driver is wasting up to $865 each year so compare rates at every renewal to save money.