Unfortunately, the majority of drivers kept their coverage with the same auto insurance company for at least four years, and nearly half have never shopped around. Tennessee insurance shoppers could save themselves roughly 35% a year just by shopping around, but they just don’t understand how easy it is to find cheap auto insurance rates.
Truthfully, the best way to get cheaper Audi TTS insurance in Memphis is to compare prices once a year from different companies who provide auto insurance in Tennessee.
- Read about coverages and the measures you can take to prevent expensive coverage. Many factors that result in higher prices such as speeding tickets, careless driving and a low credit rating can be improved by making small lifestyle or driving habit changes.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Farmers Insurance, while agents who are independent can quote prices from multiple companies. Click to view companies
- Compare the new rates to your existing policy and determine if there is any savings. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide written notification to your current company of your intent to cancel your current car insurance policy and submit the application along with any required down payment to the newly selected company. Be sure to put the proof of insurance certificate along with the vehicle’s registration papers.
An important part of this process is to make sure you’re comparing similar coverage information on every quote and and to get price quotes from as many car insurance companies as possible. Doing this provides an apples-to-apples comparison and a thorough price selection.
Learn How to Buy Auto Insurance Cheaper
A large part of saving on auto insurance is knowing the rating factors that play a part in calculating the price you pay for auto insurance. If you have some idea of what positively or negatively impacts your premiums, this allows you to make educated decisions that could help you find cheaper rates.
Shown below are some of the factors auto insurance companies consider when setting premiums.
How many miles do you drive? – The higher the mileage driven annually the more you will pay for auto insurance. Almost all companies charge to insure your cars based upon how the vehicle is primarily used. Cars that do not get driven very much receive better premium rates than vehicles that have high annual mileage. An improperly rated TTS may be costing you. It’s a smart idea to ensure your auto insurance declarations sheet reflects the correct usage, because improper ratings can cost you money.
Urban areas may pay more – Living in less populated areas has it’s advantages when trying to find low car insurance rates. Fewer drivers corresponds to lower accident rates in addition to lower liability claims. People who live in big cities have to deal with more auto accidents and more severe claims. The longer drive time means a statistically higher chance of an accident.
Single drivers may pay more – Your spouse may save some money on auto insurance. Having a spouse may mean you are more financially stable and it’s proven that being married results in fewer claims.
Coverage lapses lead to higher rates – Allowing your auto insurance policy to lapse is a quick way to bump up your auto insurance costs. And not only will your rates increase, being ticketed for driving with no insurance could earn you fines and jail time.
Protect yourself with liability – Liability coverage will protect you if ever you are found liable for causing personal injury or damage in an accident. Liability provides legal defense up to the limits shown on your policy. This coverage is relatively inexpensive as compared to coverage for physical damage, so do not cut corners here.
Insurance losses for an Audi TTS – Insurance companies include the past claim history for a vehicle when setting rates for each model. Vehicles that the data determines to have higher losses will cost more to insure.
The table below outlines the insurance loss data for Audi TTS vehicles. For each policy coverage, the statistical loss for all vehicles averaged together is equal to 100. Numbers under 100 represent a good loss history, while percentages above 100 point to more frequent losses or tendency to have larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Audi TTS 2dr 4WD||141|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get cheaper rates by receiving discounts
Car insurance is easily one of your largest bills, but companies offer discounts that can dramatically reduce your bill. Larger premium reductions will be automatically applied when you get a quote, but some discounts are required to be specifically requested prior to receiving the credit.
- Driver Education Discount – Teen drivers should complete a driver education course if offered at their school.
- Pay Now and Pay Less – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- Low Miles Discount – Low annual miles can earn discounted prices on garaged vehicles.
- Home Ownership Discount – Simply owning a home may trigger a policy discount on car insurance since owning and maintaining a home is proof that your finances are in order.
- Anti-lock Brakes – Cars, trucks, and SUVs with anti-lock braking systems have fewer accidents and therefore earn up to a 10% discount.
- Student in College – Any of your kids living away from Memphis attending college and won’t have access to an insured vehicle can be insured at a reduced rate.
- Paper-free Discount – Some of the larger companies may give you up to $50 for signing up on the internet.
Consumers should know that some credits don’t apply to your bottom line cost. Most cut individual premiums such as physical damage coverage or medical payments. So when the math indicates adding up those discounts means a free policy, insurance companies wouldn’t stay in business.
Companies and their offered discounts are outlined below.
- Mercury Insurance policyholders can earn discounts including good driver, annual mileage, multi-car, anti-theft, age of vehicle, and good student.
- Farmers Insurance has discounts for mature driver, bundle discounts, alternative fuel, distant student, multi-car, electronic funds transfer, and switch companies.
- Farm Bureau may include discounts for multi-vehicle, youthful driver, multi-policy, renewal discount, driver training, and 55 and retired.
- State Farm offers discounts including good driver, driver’s education, multiple policy, good student, Steer Clear safe driver discount, and Drive Safe & Save.
- Allstate offers premium reductions for senior citizen, teenSMART discount, EZ pay plan discount, safe driver, anti-lock brakes, and eSmart discount.
- GEICO includes discounts for air bags, anti-lock brakes, anti-theft, federal employee, five-year accident-free, membership and employees, and military active duty.
Before buying, ask every company which discounts can lower your rates. Some of the discounts discussed earlier may not apply to policyholders in your area. To see insurers that provide some of the discounts listed above in Memphis, follow this link.
Keep this in mind when shopping around
The cheapest Audi TTS insurance in Memphis can be bought online and from local agencies, so you should compare both to have the best selection. Some insurance companies do not provide internet price quotes and most of the time these smaller providers only sell through independent agents.
In this article, we presented many ways to lower your Audi TTS insurance premium rates in Memphis. It’s most important to understand that the more price quotes you have, the better your comparison will be. You may even find the lowest premium rates come from a small mutual company. Some small companies may have significantly lower prices on certain market segments than the large multi-state companies such as Allstate or State Farm.
For more information, feel free to browse the following helpful articles:
- What to do at the Scene of an Accident (Insurance Information Institute)
- Who Has the Cheapest Memphis Auto Insurance Quotes for a Toyota Camry? (FAQ)
- Who Has the Cheapest Memphis Car Insurance Quotes for Drivers Over Age 70? (FAQ)
- What Car Insurance is Cheapest for Immigrants in Memphis? (FAQ)
- Who Has Cheap Car Insurance Rates for Teachers in Memphis? (FAQ)
- What Car Insurance is Cheapest for Police Officers in Memphis? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Teen Driving Statistics (GEICO)
- Rollover Crash FAQ (iihs.org)