It takes a little time, but the best way to find the cheapest price for auto insurance rates is to start doing an annual price comparison from different companies who can sell car insurance in Memphis. Drivers can shop around by following these guidelines.
First, try to learn a little about how your policy works and the things you can control to prevent expensive coverage. Many factors that result in higher rates such as traffic violations, accidents, and an imperfect credit history can be eliminated by making minor changes to your lifestyle.
Second, get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can quote prices for a wide range of insurance providers.
Third, compare the new rate quotes to the price on your current policy to see if a cheaper price is available. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
Fourth, give notification to your agent or company to cancel your current auto insurance policy and submit payment along with a signed and completed policy application to the new company. Once received, safely store the proof of insurance certificate along with the vehicle’s registration papers.
A crucial key to this process is that you use the same coverage limits and deductibles on each quote request and and to look at as many different companies as possible. This helps ensure an apples-to-apples comparison and plenty of rates choose from.
Anyone knows that car insurance companies don’t want you comparing rates. Insureds who get comparison quotes at least once a year will, in all likelihood, switch insurance companies because there is a great chance of finding lower prices. A recent study showed that consumers who compared price quotes annually saved about $860 a year compared to those who never compared prices.
If finding budget-friendly rates on Toyota Echo insurance is the reason you’re here, then having a grasp of the best ways to shop for cheaper coverage can save time, money, and frustration.
To get cheaper Memphis car insurance quotes, there a variety of ways to obtain and compare prices from companies that offer insurance in Tennessee. The best method to find competitive Toyota Echo insurance rates is to jump online and get quotes.
Comparing free rate quotes online is easy and it, takes the place of having to drive around to insurance agencies in your area. The internet has made agencies unnecessary unless you require the extra assistance that only an agent can give. Drivers can get the lowest quotes online and get advice from an agent in your area. When comparing insurance rates, know that quoting more gives you a better chance of getting more affordable rates.
The providers in the list below can provide comparison quotes in Memphis, TN. If your goal is to find the best cheap car insurance in Memphis, TN, we recommend you get rate quotes from several of them to get the best price comparison.
Cheaper Memphis car insurance rates with discounts
Companies don’t list all their discounts very well, so the list below gives a summary of a few of the more well known as well as the least known discounts that you may qualify for.
- Auto/Home Discount – If you combine your home and auto policies and insure them with the same company you may earn up to 20% off your total Echo insurance premium.
- Early Payment Discounts – If you can afford to pay the entire bill rather than spreading payments over time you may reduce your total bill.
- Student Discounts – A discount for being a good student can earn a discount of 20% or more. The good student discount can last well after school through age 25.
- Government Employees – Employees or retirees of the government may reduce rates when you quote Memphis car insurance with a few car insurance companies.
- Senior Discount – Seniors may be able to get better car insurance rates.
- Data Collection Discounts – People who choose to allow their insurance company to study driving habits through the use of a telematics system such as Progressive’s Snapshot may get a rate reduction if they have good driving habits.
- College Student – Kids who live away from home at college and leave their car at home could get you a discount.
- Discounts for Good Drivers – Drivers who don’t get into accidents can pay as much as 50% less than their less cautious counterparts.
As a sidenote, most discount credits are not given to all coverage premiums. Most only apply to the price of certain insurance coverages like medical payments or collision. Just because it seems like you would end up receiving a 100% discount, it’s just not the way it works.
Larger car insurance companies and a partial list of their discounts are included below.
- GEICO may have discounts that include good student, membership and employees, anti-theft, seat belt use, federal employee, and driver training.
- Travelers includes discounts for driver training, good student, continuous insurance, student away at school, home ownership, new car, and early quote.
- Nationwide has discounts for multi-policy, easy pay, family plan, defensive driving, business or organization, anti-theft, and accident-free.
- Farmers Insurance offers discounts for distant student, youthful driver, switch companies, business and professional, and electronic funds transfer.
- Esurance has savings for claim free, good student, multi-policy, safety device, and multi-car.
- State Farm may include discounts for defensive driving training, safe vehicle, driver’s education, good driver, and Steer Clear safe driver discount.
- Progressive offers premium reductions for homeowner, online signing, online quote discount, multi-vehicle, and multi-policy.
- Mercury Insurance offers discounts including multi-policy, annual mileage, location of vehicle, ease of repair, good driver, and multi-car.
Before purchasing a policy, check with each company or agent the best way to save money. All car insurance discounts might not be offered in Memphis. If you would like to view companies who offer discounts in Tennessee, follow this link.
Lower the Price of Car Insurance with These Tips
Part of the car insurance buying process is learning a few of the rating criteria that come into play when calculating the price you pay for car insurance. If you have a feel for what determines premiums, this enables informed choices that can earn you lower rates.
Shown below are some of the factors used by companies to determine your rates.
How many miles do you drive? – The higher the mileage driven in a year the higher your rates will be. Most insurance companies price each vehicle’s coverage based upon how much you drive. Autos not used for work or commuting can be on a lower rate level than those used for commuting. It’s a good idea to make sure your vehicle rating properly reflects the correct usage for each vehicle. Having the wrong rating on your Echo is throwing money out the window.
Driving citations cost more than a fine – Having a single citation may increase your cost by as much as thirty percent. Careful drivers tend to pay less for car insurance than bad drivers. People who have careless tickets like DUI, reckless driving or excessive speeding may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state DMV in order to continue driving.
Lower car insurance rates with GPS tracking and theft deterrents – Owning a car with advanced anti-theft systems can get you a discount on your car insurance. Theft prevention devices such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your vehicle from being stolen.
Low physical damage deductibles mean high prices – Your deductibles define the amount the insured will be required to pay if a covered claim is submitted. Insurance for physical damage, also called comprehensive and collision insurance, insures against damage to your car. A few examples of covered claims are a windshield broken by a bird, fire damage, and having a roll-over accident. The more of the claim the insured is willing to pay, the less your company will charge you for insurance.
Don’t cut corners with liability insurance – Your policy’s liability coverage will protect you if ever you are responsible for damages from an accident. Liability provides legal defense coverage starting from day one. It is affordable coverage compared to comp and collision, so do not skimp.
Older drivers are lower risk – Older drivers are more cautious drivers, file fewer claims, and get fewer tickets. Inexperience drivers have a tendency to be careless and easily distracted when driving therefore car insurance rates are much higher.
Small coverages can add up – Insurance companies have many extra add-on coverages that you can buy if you don’t pay attention. Things like rental car coverage, better glass coverage, and extra life insurance coverage may be costing you every month. You may think they are a good idea when you first buy your policy, but if you don’t need them remove them and pocket the money.
Less chance of injury means lower premiums – Vehicles with high crash test scores tend to have better insurance rates. The safest vehicles protect occupants better and any reduction in injury severity means your insurance company pays less which can result in lower premiums. If your Toyota is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
Car insurance quotes from neighborhood Memphis auto insurance agents
A small number of people just prefer to visit with an insurance agent and there is nothing wrong with that. One of the great benefits of getting free rate quotes online is you can get cheap rate quotes and also buy local. Putting coverage with neighborhood insurance agencies is definitely important in Memphis.
Upon completion of this simple form, your insurance data is instantly submitted to local insurance agents in Memphis who want to provide quotes for your coverage. There is no reason to search for any insurance agencies due to the fact that quote results will go immediately to you. You can get cheaper car insurance rates and a licensed agent to talk to. If you need to get a price quote from a specific company, you just need to go to their quote page and fill out their quote form.
If you would like to find a reputable insurance agent or broker, you need to know there are two types of insurance agents and how they are distinctly different. Agents can be classified as either exclusive or independent (non-exclusive).
Independent Insurance Agents
Agents in the independent channel are not required to write business for one company and that gives them the ability to insure with an assortment of companies and find you cheaper rates. If they find a lower price, they simply move your policy to a different company and you don’t have to switch agencies. When searching for an agent, it’s recommended you get quotes from at a minimum one independent agency in order to compare the most rates.
Featured below is a partial list of independent insurance agents in Memphis who may be able to give you price quote information.
These agents write business for a single company and examples are State Farm or Allstate. These agents are unable to compare rates from other companies so always compare other rates. Exclusive agents are well schooled on sales techniques and that enables them to sell even at higher rates.
Listed below is a list of exclusive agencies in Memphis that are able to give comparison quotes.
Choosing an car insurance agent shouldn’t rely on just a cheap price. Any agent in Memphis should be willing to answer these questions.
- Do they reduce claim amounts on high mileage vehicles?
- Do they feel the quoted coverages are adequate?
- If you have an accident, will your rates go up?
- Are they in the agency full-time?
- If you are a high risk driver, do they have special markets for your coverage?
- Does the agency have a good rating with the Better Business Bureau?
Upon getting acceptable answers to any questions you have as well as an affordable premium quote, most likely you have located an auto insurance agent that is reputable and can adequately provide car insurance. Just remember policyholders can terminate coverage whenever you choose to so don’t feel that you are obligated to the car insurance policy for a certain time period.
You can lower your auto insurance rates
While you’re price shopping online, it’s not a good idea to skimp on critical coverages to save a buck or two. There are many occasions where drivers have reduced comprehensive coverage or liability limits and discovered at claim time that the small savings ended up costing them much more. Your strategy should be to buy the best coverage you can find for the lowest cost, but don’t skip important coverages to save money.
A few companies may not provide the ability to get quotes online and many times these smaller companies only sell through independent agents. Affordable Toyota Echo insurance in Memphis is available both online and with local Memphis insurance agents, so you need to compare both to have the best chance of lowering rates.
In this article, we presented many ways to get a better price on Toyota Echo insurance in Memphis. The most important thing to understand is the more companies you get prices for, the better your comparison will be. Drivers may even discover the biggest savings come from a small local company. These smaller insurers may have significantly lower prices on certain market segments than their larger competitors like State Farm or Progressive.
Additional auto insurance information is available at the links below
- Credit Impacts Car Insurance Rates (State Farm)
- Who Has the Cheapest Auto Insurance Rates for Good Drivers in Memphis? (FAQ)
- Who Has Affordable Memphis Auto Insurance for a GMC Sierra? (FAQ)
- Who Has Affordable Car Insurance for Lyft Drivers in Memphis? (FAQ)
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Side Impact Crash Tests (iihs.org)