To save the most money, the best way to find lower priced Hyundai Veracruz insurance is to regularly compare prices from insurance carriers that sell auto insurance in Memphis. You can compare prices by completing these steps.
First, try to learn a little about coverages and the factors you can control to prevent expensive coverage. Many factors that result in higher rates like accidents, traffic violations, and an imperfect credit history can be eliminated by paying attention to minor details. Read the full article for information to get cheaper coverage and find missing discounts.
Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO and State Farm, while independent agencies can provide price quotes for a wide range of insurance providers.
Third, compare the quotes to your current policy premium and determine if there is any savings. If you find a lower rate quote, make sure coverage does not lapse between policies.
Fourth, tell your current company to cancel your existing policy and submit a completed policy application and payment to the new company. Make sure you place the new certificate verifying coverage somewhere easily accessible.
The key aspect of shopping around is that you’ll want to make sure you compare identical deductibles and limits on every quote and and to get price estimates from as many auto insurance providers as possible. This enables a level playing field and the most accurate and complete price analysis.
Inconceivable but true, nearly 70% of Tennessee drivers kept their policy with the same company for over three years, and roughly 40% of drivers have never taken the time to shop around. American insurance shoppers could pocket up to 47% a year by just comparing rate quotes, but they underestimate the amount of savings they would get if they replace their high priced policy.
Buying the cheapest insurance in Memphis is actually not that difficult if you follow our advice. If you currently have a car insurance policy, you should be able to get lower rates using the ideas you’re about to read. Comparison shoppers only have to learn the best way to compare price quotes from many different companies online.
How to compare Memphis Hyundai Veracruz insurance price quotes
Lowering your insurance rates is not rocket science. The only requirement is to spend a little time comparing rate quotes from some recommended companies.
The companies in the list below have been selected to offer comparison quotes in Memphis, TN. If multiple companies are listed, we suggest you visit several of them in order to get a fair rate comparison.
Insurance statistics and figures
The rate information below showcases a range of insurance costs for Hyundai Veracruz models. Having insight into how insurance rates are formulated can help customers make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $202 | $372 | $332 | $20 | $100 | $1,026 | $86 |
| Veracruz GLS AWD | $228 | $372 | $332 | $20 | $100 | $1,052 | $88 |
| Veracruz Limited 2WD | $228 | $440 | $332 | $20 | $100 | $1,120 | $93 |
| Veracruz Limited AWD | $228 | $440 | $332 | $20 | $100 | $1,120 | $93 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Rate information does not factor in specific location information which can increase or decrease prices substantially.
Can higher deductibles save money?
A question often asked by Memphis drivers is how high should the physical damage coverage deductibles be. The figures shown below may help to illustrate the differences in price between high and low physical damage coverage deductibles. The first data table uses a $250 physical damage deductible and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $224 | $376 | $246 | $14 | $74 | $959 | $80 |
| Veracruz GLS AWD | $252 | $376 | $246 | $14 | $74 | $987 | $82 |
| Veracruz Limited 2WD | $252 | $444 | $246 | $14 | $74 | $1,055 | $88 |
| Veracruz Limited AWD | $252 | $444 | $246 | $14 | $74 | $1,055 | $88 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Veracruz GLS AWD | $156 | $236 | $246 | $14 | $74 | $726 | $61 |
| Veracruz Limited 2WD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
| Veracruz Limited AWD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
| 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 multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Information does not factor in specific garaging location which can alter auto insurance rates significantly.
Based on these figures, using a $250 deductible costs about $23 more each month or $276 annually across all Hyundai Veracruz models than choosing the higher $1,000 deductible. Because you would be required to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average more than 33 months between claims, you would come out ahead if you elect the higher deductible.
How to calculate deductible break even period
| Average monthly premium for $250 deductibles: | $85 |
| Average monthly premium for $1,000 deductibles (subtract): | – $62 |
| Monthly savings from raising deductible: | $23 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $23 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 33 months |
Driving violations and accidents
The illustration below demonstrates how speeding tickets and at-fault collisions influence Hyundai Veracruz premium costs for different age categories. The data assumes a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.
How much more does full coverage cost in Memphis?
The example below shows the comparison of Hyundai Veracruz insurance premiums with and without full coverage. The price estimates are based on no violations or accidents, $250 deductibles, single status, and no discounts are taken into consideration.
Should you pay for full coverage?
There is no definitive formula for phasing out physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Hyundai Veracruz replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $2,000 after the policy deductible has been paid. If it’s costing you more than $200 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some situations where removing full coverage is not in your best interest. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.
You may need specialized car insurance coverage
Keep in mind that when it comes to choosing coverage online or from an agent for your personal vehicles, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s.
These are some specific questions might point out if your insurance needs will benefit from professional help.
- Are rental cars covered under my policy?
- What are the best liability limits?
- Do I need replacement cost coverage?
- Is my camper covered for physical damage?
- Is pleasure use cheaper than using my Hyundai Veracruz to commute?
- Are rock chip repairs covered?
- Can I drive in Mexico and have coverage?
- What is motorclub and do I need it?
- Can my teen driver be rated on a liability-only vehicle?
- What is the premium to book value ratio for dropping full coverage?
If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form. It’s fast, free and can help protect your family.
Compare rates but still have a local Memphis insurance agency
A small number of people prefer to sit down with an agent and that can be a smart move Professional insurance agents are very good at helping people manage risk and help file insurance claims. The biggest benefit of comparing rate quotes online is the fact that drivers can get the lowest rates but still work with a licensed agent.
Once you complete this short form, your coverage information is submitted to local insurance agents in Memphis that can provide free Memphis auto insurance quotes for your insurance coverage. There is no need to visit any agencies as quotes are delivered to you instantly. If for some reason you want to get a comparison quote from a particular provider, just navigate to their website and fill out the quote form the provide.
Finding a good insurance company should include more criteria than just the premium amount. Get answers to these questions too.
- Do they regularly work with personal auto policies in Memphis?
- How much will you save each year by using a higher deductible?
- Does the agency support the community they serve?
- Can glass repairs be made at your home?
- Will their companies depreciate repairs to your car based on the mileage?
- Are all drivers listed on the coverage quote?
- Can they give you a list of client referrals?
How to choose the best auto insurance agent in Memphis
When finding a reliable insurance agent, it can be helpful to understand the types of insurance agents that differ in how they can insure your vehicles. Agents in Memphis are considered either exclusive or independent (non-exclusive). Both can insure your vehicles, but it’s good to learn the difference between them because it can influence buying decisions.
Exclusive Insurance Agents
Agents of this type can only place business with one company like State Farm, AAA, Farmers Insurance or Allstate. They generally cannot provide rate quotes from other companies so always compare other rates. They are highly trained on their products and sales techniques which helps them sell insurance even at higher premiums. Consumers frequently buy from the same agent for years mostly because of the prominent brand name rather than having low rates.
The following are Memphis exclusive insurance agencies who may provide you with rate quotes.
- Kevin White – State Farm Insurance Agent
2861 Poplar Ave – Memphis, TN 38111 – (901) 652-8484 – View Map - Allstate Insurance: Angie Hooten-Hughes
6803 Summer Ave – Memphis, TN 38134 – (901) 373-6060 – View Map - Barry Sanders – State Farm Insurance Agent
6060 Quince Rd – Memphis, TN 38119 – (901) 767-2001 – View Map
Independent Insurance Agents
These agents can sell policies from many different companies and that is an advantage because they can write policies with any number of different companies and possibly get better coverage at lower prices. If your agent finds better pricing, your agent can switch companies and you won’t have to switch agencies. When comparing insurance rates, you will want to get quotes from a few independent agents to get the most accurate price comparison. Most have the option of insuring with smaller mutual companies that many times have cheaper rates.
Below is a list of independent insurance agents in Memphis willing to provide rate quotes.
- Keltner Insurance Inc.
3232 S Perkins Rd – Memphis, TN 38118 – (901) 797-8665 – View Map - Kellett Insurance Agency
4608 Quince Rd – Memphis, TN 38117 – (901) 685-3008 – View Map - Nationwide Insurance: Bennita J Wade Agency
1503 Union Ave Ste 220 – Memphis, TN 38104 – (901) 276-8571 – View Map
Car insurance companies ranked
Selecting a good quality company can be a challenge considering how many choices you have in Memphis. The company ratings in the next section could help you decide which providers you want to consider shopping prices with.
Top 10 Memphis Car Insurance Companies Ranked by Claims Service
- Travelers
- Allstate
- Nationwide
- State Farm
- GEICO
- Liberty Mutual
- American Family
- Esurance
- AAA Insurance
- Titan Insurance
Top 10 Memphis Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- Esurance
- The General