How long has it been since you compared lower-priced Chevy SS insurance in Memphis? Overpriced insurance in Memphis can consume your bank account and force you to make tough financial choices. Getting a rate comparison is a great way to slash your bill and have more diposable income.
It’s a known fact that insurance companies want to prevent you from shopping around. Insureds who get comparison quotes at least once a year will presumably switch to a new company because there is a great chance of finding lower prices. A recent insurance study discovered that people who compared rates annually saved approximately $3,500 over four years compared to people who never shopped around for lower prices.
If finding the best rates on Chevy SS insurance is your intention, learning the best way to compare auto insurance can help you succeed in finding affordable rates. Consumers have so many insurers to pick from, and even though it’s nice to have a choice, more options can take longer to find the best rates for your vehicles.
It’s smart to take a look at other company’s rates as often as possible because rates are rarely the same from one policy term to another. Even if you think you had the lowest rate on Chevy SS insurance in Memphis six months ago there is a good chance you can find better prices now. Ignore everything you know about insurance because you’re going to get a crash course in one of the best ways to save on insurance.
The majority of larger companies provide coverage prices directly from their websites. Doing online quotes for Chevy SS insurance in Memphis doesn’t take a lot of time because it’s just a matter of typing in the amount of coverage you want as requested by the quote form. When the form is submitted, the system obtains your driving and credit reports and gives you a price quote determined by many factors. This makes it easy to compare insurance prices and it’s absolutely necessary to get many rate quotes if you are searching for the cheapest price.
In order to get comparison pricing now, visit the companies below or click here to submit a quote request to multiple companies at once. If you have your current policy handy, we recommend you copy the coverages identical to your current policy. This helps ensure you will receive rate comparison quotes for the exact same coverage.
The companies shown below offer price comparisons in Tennessee. To find cheap auto insurance in TN, we recommend you visit several of them in order to get a fair rate comparison.
Choosing SS insurance is an important decision
Despite the high cost of buying insurance for a Chevy SS in Memphis, insuring your vehicle is mandatory in Tennessee but it also protects more than you think.
- The majority of states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability protection in order to drive the car. 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 took out a loan on your Chevy, most lenders will stipulate that you have insurance to ensure loan repayment if the vehicle is totaled. If the policy lapses, the lender will be forced to insure your Chevy at a more expensive rate and force you to reimburse them a much higher amount than you were paying before.
- Car insurance protects not only your Chevy SS but also your financial assets. It will also cover many types of medical costs for you, any passengers, and anyone injured in an accident. Liability insurance 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 to restore your vehicle to like-new condition.
The benefits of insuring your car more than offset the price you pay, specifically if you ever have a liability claim. But the average driver in Tennessee overpays more than $865 each year so compare rates every year to make sure the price is not too high.
Do you qualify for these seven discounts?
Insurance is neither fun to buy or cheap, but there’s a good chance there are discounts that can help lower your rates. Some trigger automatically when you quote, but less common discounts must be manually applied before they will apply.
- Good Students Pay Less – Excelling in school can save 20 to 25%. You can use this discount normally up to age 25.
- Drivers Ed for Students – Teen drivers should take driver’s ed class in school.
- Homeowners Savings – Owning a house in Memphis may earn you a small savings because owning a home shows financial diligence.
- Discounts for Government Workers – Active or former government employment could qualify for a slight premium decrease with certain companies.
- Active Military Service – Having a deployed family member could qualify you for better prices.
- New Car Discount – Putting insurance coverage on a new SS can cost up to 25% less because newer models are generally safer.
- Passive Restraints – Factory air bags and/or automatic seat belt systems could see savings of 20 to 30 percent.
Don’t be shocked that some credits don’t apply to the entire cost. Most only reduce the cost of specific coverages such as comp or med pay. So even though they make it sound like you can get free auto insurance, that’s just not realistic.
To view insurance companies that offer the discounts shown above in Tennessee, follow this link.
Car insurance is available from agents near you
Many people just prefer to get advice from a local agent and often times that is recommended Experienced insurance agents can answer important questions and give you someone to call. One of the best bonuses of getting free rate quotes online is that you can obtain lower rates but also keep your business local. Putting coverage with small agencies is important particularly in Memphis.
After completing this simple form, your coverage information is immediately sent to local insurance agents in Memphis that can give you free Memphis car insurance quotes for your insurance coverage. It’s much easier because you don’t need to search for any insurance agencies because quoted prices will be sent immediately to you. If you need to get a rate quote from a specific insurance company, just jump over to their website and fill out their quote form.
Compare rates from both independent and exclusive auto insurance agents
When narrowing the list to find a local Memphis insurance agent, it helps to know the two types of insurance agents and how they work. Memphis agents are considered either independent agents or exclusive agents depending on their employer. Either one can write policy coverage, but it’s worth mentioning the subtle differences because it can impact your agent selection.
Independent Car Insurance Agencies
These agents are not restricted to one company so they can insure your vehicles with many different companies enabling the ability to shop coverage around. If you are not satisfied with one company, the business is moved internally and you don’t have to do anything.
When comparison shopping, you definitely need to get several quotes from at a minimum one independent agency so that you have a good selection of quotes to compare.
Shown below is a small list of independent insurance agencies in Memphis that may be able to give cheap rate quotes.
Exclusive Insurance Agencies
Agents of this type are contracted to one company like AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents cannot shop your coverage around so you need to shop around if the rates are high. Exclusive agents are very knowledgeable on the products they sell which helps them sell insurance even at higher premiums.
Below are exclusive insurance agents in Memphis that are able to give comparison quotes.
Picking the best insurance agent needs to be determined by more than just the premium amount. These are valid questions to ask:
- Does the agent have a valid license to sell insurance in Tennessee?
- Do they reduce claim amounts on high mileage vehicles?
- Did they already check your driving record and credit reports?
- How long has their agency been in business in Memphis?
- If independent agents, which companies do they recommend?
- Can they help ensure a fair claim settlement?
- Do you qualify for any additional discounts?
- Are they primarily personal or commercial lines agents in Memphis?
If you feel you receive good feedback to your questions and a good coverage price, you’ve probably found an insurance agent that can be relied on to adequately provide car insurance.
Learning about specific coverages of your insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. Insurance terms can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverages available from insurance companies.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like doctor visits, ambulance fees and dental work. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Coverage for collisions
This coverage covers damage to your SS from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision coverage pays for things such as crashing into a ditch, crashing into a building and colliding with a tree. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible on your SS in order to get cheaper collision rates.
Liability insurance provides protection from damages or injuries you inflict on a person or their property. This insurance protects YOU against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/15 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $15,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.
Liability insurance covers things like attorney fees, legal defense fees and funeral expenses. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford. Tennessee state law requires minimum liability limits of 25/50/15 but you should consider buying more liability than the minimum.
The illustration below demonstrates why buying minimum limits may not be enough.
This pays for damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as theft, fire damage and damage from flooding. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy SS.
Since a lot of drivers only carry the minimum required liability limits (25/50/15), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Frequently these coverages are similar to your liability insurance amounts.
More effort can pay off
You just read many tips how you can shop for Chevy SS insurance online. The most important thing to understand is the more quotes you get, the better your chances of lowering your premium rates. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising. They often have lower premium rates on specific markets than their larger competitors like Allstate or State Farm.
Budget-friendly auto insurance in Memphis is available online and with local Memphis insurance agents, so you need to shop Memphis car insurance with both in order to have the best price selection to choose from. Some companies may not have rate quotes online and usually these smaller providers work with independent agents.
When you buy Memphis car insurance online, don’t be tempted to buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured dropped comprehensive coverage or liability limits to discover at claim time that it was a big mistake. The goal is to purchase a proper amount of coverage at a price you can afford, but do not sacrifice coverage to save money.
Steps to finding cheaper Chevy SS insurance in Memphis
It takes a few minutes, but the best way to find affordable auto insurance rates is to start comparing rates regularly from companies who provide car insurance in Memphis.
- First, get a basic knowledge of the coverage provided by your policy and the modifications you can make to prevent rate increases. Many risk factors that increase rates like at-fault accidents and a negative credit score can be controlled by making minor driving habit or lifestyle changes.
- Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can provide price quotes from multiple companies.
- Third, compare the new rates to the price on your current policy to see if you can save by switching companies. If you find a lower rate and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, provide adequate notice to your current company of your decision to cancel your current car insurance policy. Submit the signed application along with the required initial payment to the new company. Don’t forget to keep your new certificate of insurance with your registration paperwork.
One tip to remember is that you’ll want to compare the same physical damage deductibles and liability limits on each quote and and to get rates from as many carriers as you can. Doing this helps ensure the most accurate price comparison and a good representation of prices.
For more information, link through to the following helpful articles:
- Driving in Bad Weather (Insurance Information Institute)
- Who Has the Cheapest Memphis Car Insurance Quotes for Drivers Over Age 70? (FAQ)
- Who Has Cheap Memphis Auto Insurance Rates for Drivers with Bad Credit? (FAQ)
- What Auto Insurance is Cheapest for Drivers with Good Credit in Memphis? (FAQ)
- Who Has Affordable Memphis Auto Insurance Rates for Uninsured Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Subaru Outback in Memphis? (FAQ)
- How Much is Memphis Car Insurance for Government Employees? (FAQ)
- What Insurance is Cheapest for Inexperienced Drivers in Memphis? (FAQ)
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)