It’s astonishing, but the vast majority of car insurance customers renewed their policy with the same company for over three years, and nearly the majority have never compared quotes from other companies. Drivers in Tennessee could cut their rates by approximately 35% a year, but they feel it’s too difficult to do a rate comparison.
The most effective way to find cheaper auto insurance rates in Memphis is to compare prices once a year from insurers who provide auto insurance in Tennessee.
- Try to comprehend what is in your policy and the steps you can take to drop your rates. Many things that cause rate increases like your driving record and an imperfect credit history can be controlled by making minor driving habit or lifestyle changes.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from one company like Progressive and State Farm, while independent agents can give you price quotes from many different companies.
- Compare the new rate quotes to your current policy to determine if switching companies saves money. If you can save money and make a switch, make sure coverage does not lapse between policies.
A crucial key to this process is that you’ll want to compare the same coverage limits and deductibles on every quote and and to look at as many carriers as you can. This enables an accurate price comparison and a thorough price selection.
If you have car insurance now, you will surely be able to buy cheaper car insurance using the techniques covered below. Finding affordable car insurance coverage in Memphis seems hard but is not really that difficult. But Tennessee vehicle owners do need to learn how companies calculate your car insurance rates and use it to your advantage.
Save money on Hyundai Genesis insurance in Memphis with these insurance discounts
Insurance is not inexpensive, but companies offer discounts to reduce the price significantly. A few discounts will be applied when you complete an application, but some may not be applied and must be asked about before they will apply.
- Seat Belts Save – Using a seat belt and requiring all passengers to fasten their seat belts can save up to 15% off the personal injury premium cost.
- Bundle and Save – When you have multiple policies and insure them both with the same insurance company you could get a discount of up to 20% off your total Genesis insurance premium.
- Accident Waiver – This one isn’t a discount, but companies like Allstate and GEICO will turn a blind eye to one accident without getting socked with a rate hike so long as you are claim-free for a particular time prior to the accident.
- Save over 55 – If you qualify as a senior citizen, you may qualify for a small decrease in premiums.
- Government Employee Discount – Active or retired federal employment could cut as much as 10% off with some insurance companies.
- Save with a New Car – Adding a new car to your policy can be considerably cheaper due to better safety requirements for newer vehicles.
- Telematics Data – Insureds who allow their insurance company to scrutinize when and where they use their vehicle by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive could possibly reduce rates if their driving habits are good.
- Low Mileage – Driving fewer miles may allow you to get discounted insurance rates on garaged vehicles.
- Anti-theft Discount – Vehicles with anti-theft systems are stolen less frequently and will save you 10% or more on Genesis insurance in Memphis.
- No Claim Discounts – Claim-free drivers are rewarded with significantly better rates on Memphis car insurance quote when compared with insureds who have frequent claims or accidents.
As a sidenote, most of the big mark downs will not be given to the entire policy premium. A few only apply to specific coverage prices like comp or med pay. Despite the appearance that all those discounts means the company will pay you, you’re out of luck.
The diagram below shows the comparison of Hyundai Genesis insurance prices with and without discounts. The price estimates are based on a male driver, no claims, a clean driving record, Tennessee state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, multi-policy, claim-free, and safe-driver discounts applied.
A list of insurance companies and a summarized list of policyholder discounts are included below.
- GEICO may include discounts for anti-theft, multi-vehicle, driver training, military active duty, federal employee, emergency military deployment, and air bags.
- Auto-Owners Insurance has savings for mature driver, company car, multi-policy, safe vehicle, and anti-lock brakes.
- American Family has discounts for defensive driver, good student, good driver, early bird, mySafetyValet, air bags, and Steer into Savings.
- Esurance may have discounts that include good student, anti-lock brakes, emergency road assistance, homeowner, multi-car, claim free, and safety device.
- Progressive may offer discounts for online quote discount, online signing, good student, multi-policy, and continuous coverage.
- State Farm discounts include Steer Clear safe driver discount, anti-theft, good driver, good student, Drive Safe & Save, defensive driving training, and driver’s education.
- AAA offers discounts for good student, good driver, multi-car, multi-policy, education and occupation, and anti-theft.
Check with every insurance company to give you their best rates. All car insurance discounts might not be available to policyholders in Memphis. If you would like to view insurers offering insurance discounts in Memphis, click here to view.
There are several ways of comparing price quotes from all the different companies. The quickest method to comparison shop is to jump online and get quotes.
Doing price comparisons online is so simple that it makes it obsolete to waste gas driving to insurance agencies in your area. Doing it all online eliminates this option unless you prefer the professional advice that only an agent can give. Although you can compare online quotes but still have the advice of a local agent. It’s important to know that more quotes provides better odds of finding a better price. Some companies don’t provide rate quotes online, so you also need to get rates from the smaller companies as well.
The companies shown below are ready to provide comparison quotes in Tennessee. To locate the cheapest auto insurance in Memphis, TN, it’s highly recommended you visit as many as you can to get the lowest price.
Analysis of coverages
The rate information shown below highlights different insurance costs for Hyundai Genesis models. Learning how prices are determined can assist in making informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Genesis 2.0T 2-Dr Coupe||$242||$596||$380||$22||$114||$1,354||$113|
|Genesis 3.8 4-Dr Sedan||$268||$518||$258||$16||$78||$1,138||$95|
|Genesis 2.0T Premium 2-Dr Coupe||$268||$596||$380||$22||$114||$1,380||$115|
|Genesis 3.8 2-Dr Coupe||$268||$596||$380||$22||$114||$1,380||$115|
|Genesis 2.0T Track 2-Dr Coupe||$268||$596||$380||$22||$114||$1,380||$115|
|Genesis 3.8 Grand Touring 2-Dr Coupe||$268||$596||$380||$22||$114||$1,380||$115|
|Genesis 4.6 4-Dr Sedan||$268||$596||$258||$16||$78||$1,216||$101|
|Genesis 3.8 Track 2-Dr Coupe||$268||$674||$380||$22||$114||$1,458||$122|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Premium amounts do not factor in vehicle garaging location which can revise prices considerably.
Full coverage versus liability-only in Memphis
The chart below visualizes the comparison of Hyundai Genesis car insurance costs with full coverage and liability only. The costs are based on no claims, a clean driving record, $250 deductibles, single marital status, and no discounts are taken into consideration.
When to stop buying comprehensive and collision coverage
There is no exact rule of when to stop paying for physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s pretend your Hyundai Genesis book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after you pay the deductible. If you are currently paying more than $800 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where only buying liability is not a good plan. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Tailor your auto insurance coverage to you
When it comes to a policy for your personal vehicles, there is no one-size-fits-all type of policy. You are unique.
For example, these questions might help in determining if your situation might need professional guidance.
- Is pet coverage available?
- How can I find cheaper teen driver insurance?
- Is my vehicle covered by my employer’s policy when using it for work?
- Do I have coverage when pulling a U-Haul trailer?
- Are rental cars covered under my policy?
- Do I have any recourse if my insurance company denies a claim?
- When can my company non-renew my policy?
- Is my babysitter covered when using my vehicle?
- How much liability do I need to cover my assets?
- What is the rate difference between pleasure use and commuting?
If it’s difficult to answer those questions but you know they apply to you, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form.
Compare prices but buy from a local Memphis insurance agent
A small number of people still like to buy from a local agent and that is a smart decision An additional benefit of comparing rate quotes online is that drivers can save money and get the best rates and still choose a local agent.
By using this quick form, your insurance coverage information is sent to participating agents in Memphis who will give you bids to get your business. You won’t need to search for an agent because prices are sent instantly to you. Get lower rates and work with a local agent. If for some reason you want to get a comparison quote from a specific company, don’t hesitate to find their quoting web page to submit a rate quote request.
Choosing the best provider shouldn’t rely on just a cheap price quote. Ask your prospective agent these questions:
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Does the quote include credit and driving reports?
- Do the coverages you’re quoting properly cover your vehicle?
- How long has the business existed?
- Do they offer accident forgiveness?
- Will they make sure you get an adequate claim settlement?
- What is their Better Business Bureau rating?
Multiple types of car insurance agents in Memphis
If you need to find a reliable agent, it’s helpful to know the different types of agents and how they differ in how they quote coverages. Insurance agencies in Memphis can either be independent (non-exclusive) or exclusive.
Exclusive agents write business for a single company like Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agencies are unable to compare other company’s rates so they are skilled at selling on more than just price. Exclusive agents are well schooled on what they offer and that can be a competitive advantage.
The following is a short list of exclusive insurance agencies in Memphis who may provide you with price quote information.
Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map
Parker Rhett – State Farm Insurance Agent
4515 Poplar Ave #416 – Memphis, TN 38117 – (901) 680-7400 – View Map
Dan Crawford – State Farm Insurance Agent
5705 Stage Rd #160 – Memphis, TN 38134 – (901) 372-4400 – View Map
Independent Insurance Agents
These agents are not employed by any specific company and that allows them to write policies with multiple insurance companies depending on which coverage is best. If prices rise, the business is moved internally which makes it simple for you. If you are trying to find cheaper rates, you need to contact at least one independent agent in order to have the best price comparison.
The following are Memphis independent insurance agents willing to provide comparison quotes.
2550 Poplar Ave – Memphis, TN 38112 – (901) 458-1630 – View Map
606 S Mendenhall Rd #200 – Memphis, TN 38117 – (901) 529-2900 – View Map
Kellett Insurance Agency
4608 Quince Rd – Memphis, TN 38117 – (901) 685-3008 – View Map
After you get good responses for all questions you ask and a good coverage price, you have narrowed it down to an insurance agency that meets the criteria to service your policy. Just be aware that consumers can cancel your policy whenever you want so don’t think that you’re stuck with a specific agent with no way to switch.
A little work can save a LOT of money
As you prepare to switch companies, do not buy poor coverage just to save money. There have been many cases where someone sacrificed uninsured motorist or liability limits and learned later they didn’t have enough coverage. The ultimate goal is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.
In this article, we presented some good ideas how to get a better price on Hyundai Genesis insurance in Memphis. The most important thing to understand is the more quotes you get, the better your comparison will be. Consumers may even find the lowest prices are with some of the lesser-known companies.
Some insurance companies do not offer online price quotes and most of the time these regional insurance providers only sell coverage through independent insurance agents. Discount Hyundai Genesis insurance can be bought both online and with local Memphis insurance agents, so you should compare both to have the best rate selection.
More information can be found at the links below
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Who Has Affordable Car Insurance Quotes for a Toyota Highlander in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance Quotes for a Jeep Grand Cherokee? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Hyundai Santa Fe in Memphis? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Memphis? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Electronic Stability Control FAQ (iihs.org)