The recommended way to get more affordable Toyota Yaris insurance is to compare quotes annually from different companies who provide auto insurance in Memphis.
Step 1: Try to learn a little about car insurance and the steps you can take to keep rates in check. Many rating factors that result in higher rates such as accidents, traffic tickets, and poor credit history can be amended by making minor changes in your lifestyle.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agents can give you price quotes from many different companies.
Step 3: Compare the new quotes to the price on your current policy to see if a cheaper price is available in Memphis. If you find a lower rate, make sure there is no lapse in coverage.
Step 4: Provide adequate notice to your current company of your intention to cancel your current auto insurance policy and submit a down payment and signed policy application to your new company or agent. Immediately upon receiving it, store the proof of insurance certificate with your vehicle’s registration.
A key point to remember is to try to use identical coverages on each quote and and to get price estimates from as many companies as possible. Doing this enables the most accurate price comparison and a complete rate analysis.
It’s well known that car insurance companies want to keep your business as long as possible. People who get comparison quotes once a year will presumably buy a new policy because there is a great chance of finding a lower-priced policy. Surprisingly, a recent survey revealed that drivers who compared rates regularly saved approximately $70 a month as compared to drivers who don’t make a habit of comparing rates.
If finding the most affordable auto insurance is why you’re here, then having a good understanding the best way to quote and compare cheaper coverage can make the process more efficient.
The most recommended method to compare rate quotes for Toyota Yaris insurance in Memphis is to take advantage of the fact most insurance companies will pay a fee to provide you with free rate quotes. The only thing you need to do is give them rating details like how much you drive, whether or not you need a SR-22, how much school you completed, and how your vehicles are used. Your information is then submitted to multiple top-rated companies and they respond with quotes immediately.
To find lower affordable Toyota Yaris insurance rates now, click here and see if a lower rate is available in Memphis.
The following companies offer free rate quotes in Tennessee. If multiple companies are listed, we suggest you visit several of them to get the cheapest price.
It may be expensive, but it’s not optional
Even though it’s not necessarily cheap to insure a Toyota in Memphis, paying for insurance is not optional due to several reasons.
- Almost all states have minimum liability requirements which means you are required to carry specific limits of liability 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 have a loan on your Toyota, most banks will force you to buy full coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Toyota at an extremely high rate and force you to pay the higher premium.
- Insurance protects your vehicle and your assets. It will also cover most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will cover the repair costs.
The benefits of insuring your car more than offset the price you pay, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer overpays more than $810 a year so smart consumers compare quotes at every renewal to be sure current rates are still competitive.
Rates and detailed analysis
The data table below outlines different coverage costs for Toyota Yaris models. Learning how insurance prices are formulated can aid in making informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $222 | $376 | $428 | $26 | $128 | $1,180 | $98 |
| Yaris 4-Dr Hatchback | $222 | $376 | $378 | $22 | $114 | $1,112 | $93 |
| Yaris 4-Dr Sedan | $222 | $376 | $378 | $22 | $114 | $1,112 | $93 |
| Yaris S 2-Dr Hatchback | $254 | $376 | $428 | $26 | $128 | $1,212 | $101 |
| Yaris S 4-Dr Hatchback | $254 | $376 | $378 | $22 | $114 | $1,144 | $95 |
| Yaris S 4-Dr Sedan | $254 | $376 | $378 | $22 | $114 | $1,144 | $95 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Premium amounts do not factor in your specific Memphis location which can affect insurance rates considerably.
Physical damage deductible comparison
One common question asked by Memphis drivers is which comprehensive and collision deductibles to buy. The following insurance rates approximate the differences in premium rates between low and high comp and collision deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $194 | $376 | $326 | $20 | $98 | $1,039 | $87 |
| Yaris 4-Dr Hatchback | $194 | $376 | $288 | $18 | $86 | $987 | $82 |
| Yaris 4-Dr Sedan | $194 | $376 | $288 | $18 | $86 | $987 | $82 |
| Yaris S 2-Dr Hatchback | $224 | $376 | $326 | $20 | $98 | $1,069 | $89 |
| Yaris S 4-Dr Hatchback | $224 | $376 | $288 | $18 | $86 | $1,017 | $85 |
| Yaris S 4-Dr Sedan | $224 | $376 | $288 | $18 | $86 | $1,017 | $85 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $158 | $304 | $326 | $20 | $98 | $906 | $76 |
| Yaris 4-Dr Hatchback | $158 | $304 | $288 | $18 | $86 | $854 | $71 |
| Yaris 4-Dr Sedan | $158 | $304 | $288 | $18 | $86 | $854 | $71 |
| Yaris S 2-Dr Hatchback | $182 | $304 | $326 | $20 | $98 | $930 | $78 |
| Yaris S 4-Dr Hatchback | $182 | $304 | $288 | $18 | $86 | $878 | $73 |
| Yaris S 4-Dr Sedan | $182 | $304 | $288 | $18 | $86 | $878 | $73 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Price information does not factor in specific location which can change premium rates greatly.
Using the data above, we can ascertain that using a $250 deductible costs approximately $11 more each month or $132 a year than choosing the higher $500 deductible. Because you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 23 months between claims, you would most likely save money if you choose a higher deductible.
How to calculate deductible break even point
| Average monthly premium for $250 deductibles: | $85 |
| Average monthly premium for $500 deductibles (subtract): | – $74 |
| Monthly savings from raising deductible: | $11 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $11 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
The example below highlights how deductible selection and can change Toyota Yaris annual premium costs for each different age group. The premiums assume a married female driver, comp and collision included, and no discounts are applied to the premium.
Cheaper rates with these rate reducing discounts
Insuring your vehicles can cost a lot, but you may find discounts that could drop your premiums quite a bit. Certain discounts will be triggered automatically at the time of quoting, but occasionally some discounts must be inquired about before you get the savings. If you are not receiving all the discounts you deserve, you are not getting the best rate possible.
- Air Bags and Passive Restraints – Vehicles equipped with air bags or automatic seat belts may get savings of 25 to 30%.
- Telematics Data Discounts – Insureds who allow their auto insurance company to study when and where they use their vehicle by using a small device installed in their vehicle such as State Farm’s In-Drive might see lower rates as long as the data is positive.
- Paperwork-free – A few larger companies will give a small break shop Memphis auto insurance on your computer.
- Seat Belts Save – Requiring all passengers to use their safety belts could save 15% on the premium charged for medical payments and/or PIP.
- No Accidents – Insureds with no claims or accidents pay much less as opposed to drivers who are more careless.
Policy discounts save money, but most of the big mark downs will not be given to the whole policy. Most cut the price of certain insurance coverages like collision or personal injury protection. Even though the math looks like all the discounts add up to a free policy, it’s just not the way it works. Any qualifying discounts will cut your policy cost.
The diagram below shows the comparison of Toyota Yaris car insurance costs with and without policy discounts. The costs are based on a male driver, no tickets, no at-fault accidents, 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, homeowner, marriage, multi-car, safe-driver, and claim-free discounts applied.
To view auto insurance companies that can offer you the previously mentioned discounts in Tennessee, click this link.
Buying from auto insurance agents
Some people still like to visit with an insurance agent and that can be a great decision Most agents can point out coverage gaps and help you file claims. An additional benefit of getting free rate quotes online is that you can obtain cheap auto insurance rates and still have an agent to talk to. Buying from local agents is still important in Memphis.
To make it easy to find an agent, after completing this quick form, the coverage information gets sent to local insurance agents who will give you bids and help you find cheaper coverage. You never need to contact any insurance agencies because prices are sent to you directly. If you wish to quote rates from a specific auto insurance provider, don’t hesitate to find their quoting web page and fill out the quote form the provide.
Shown below are Memphis car insurance companies who can help you get comparison quotes for Toyota Yaris insurance in Memphis.
- Oseman Insurance Agency
6750 Poplar Ave #410 – Memphis, TN 38138 – (901) 562-0151 – View Map - Keltner Insurance Inc.
3232 S Perkins Rd – Memphis, TN 38118 – (901) 797-8665 – View Map - Boyle Insurance Agency, Inc.
5900 Poplar Ave – Memphis, TN 38119 – (901) 766-0200 – View Map - Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159 – View Map
Picking the best insurer requires more thought than just a cheap price quote. Before buying a policy in Memphis, get answers to these questions.
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Where would glass claims be handled in Memphis?
- Is the coverage adequate for your vehicle?
- Will the quote change when the policy is issued?
- Will their companies depreciate repairs to your car based on the mileage?
- Are they primarily personal or commercial lines agents in Memphis?
- How often do they review coverages?
Your insurance coverage should be tailored to you
When quoting and comparing adequate coverage, there isn’t really a perfect coverage plan. You are unique so your insurance needs to address that.
These are some specific questions can help discover whether or not you might need professional guidance.
- Who does medical payments coverage extend to?
- Why am I be forced to buy a membership to get insurance from some companies?
- How much coverage applies to personal belongings?
- How much can I save by bundling my policies?
- Am I covered when driving in Canada or Mexico?
- Is pet coverage available?
- Are there companies who specialize in insuring high-risk drivers?
- Does insurance cover tools stolen from my truck?
- Am I covered if I have no license?
- How do I buy GAP insurance?
If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It only takes a few minutes and you can get the answers you need.
Be persistent to save money
As you go through the steps to switch your coverage, never sacrifice coverage to reduce premiums. There have been many cases where someone sacrificed liability limits or collision coverage and discovered at claim time that the savings was not a smart move. Your goal should be to find the BEST coverage at the best cost, not the least amount of coverage.
You just learned quite a bit of information on how to lower your Toyota Yaris insurance rates in Memphis. The most important thing to understand is the more you quote Memphis auto insurance, the better chance you’ll have of finding cheaper Memphis auto insurance quotes. You may even find the lowest rates come from a small mutual company. Some small companies may have significantly lower auto insurance rates on certain market segments than their larger competitors like Progressive or GEICO.
Some insurance companies do not provide online quoting and usually these regional insurance providers only sell coverage through local independent agencies. Cheaper car insurance in Memphis can be sourced on the web in addition to local insurance agencies, so you should compare both to have the best chance of lowering rates.
Much more information about car insurance in Tennessee can be found on the following sites:
- Auto Insurance 101 (About.com)
- Who Has Cheap Car Insurance Rates for a Dodge Grand Caravan in Memphis? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for a School Permit? (FAQ)
- What Car Insurance is Cheapest for Infrequent Drivers in Memphis? (FAQ)
- What Insurance is Cheapest for a Learners Permit in Memphis? (FAQ)
- Who Has Cheap Memphis Car Insurance Rates for Nurses? (FAQ)
- Credit and Insurance Scores (Insurance Information Institute)
- Senior Drivers (Insurance Information Institute)
- Top Signs Your Brakes are Giving Out (State Farm)