Did a good deal turn out to be an under-performing, overpriced insurance policy? Don’t sweat it because there are many Memphis drivers thinking the same thing.
Smart shoppers know that car insurance companies want to keep you from shopping around. Consumers who shop around for cheaper rates are likely to buy a different policy because there is a good probability of getting low-cost coverage. A recent survey found that people who routinely compared quotes saved about $850 each year compared to those who don’t make a habit of comparing rates.
If finding the best rates on car insurance in Memphis is the reason for your visit, then having some insight into how to find and compare auto insurance can make it easier for you to save money.
Insurance companies such as State Farm, GEICO and Farmers Insurance constantly blast consumers with TV and radio ads and it is challenging if not impossible to ignore the flying pigs and cute green geckos and take the time to shop coverage around.
It’s smart to check insurance prices periodically since prices are constantly changing. If you had the lowest rates on Honda Pilot insurance in Memphis on your last policy other companies may now be cheaper. There is a lot of bad information regarding Pilot insurance on the internet, but I’m going to show you some of the best ways to slash your insurance rates in Memphis.
If you are insured now, you should be able to find better prices using these tips. Finding the cheapest car insurance coverage in Memphis is not that difficult. Nevertheless, Tennessee vehicle owners can benefit by having an understanding of how companies market insurance on the web and use it to find better rates.
Keep in mind that more quotes increases the chance that you will find better pricing.
The auto insurance companies shown below are ready to provide quotes in Memphis, TN. To find cheap auto insurance in Memphis, we recommend you visit as many as you can to find the lowest auto insurance rates.
Companies offer money-saving discounts on Honda Pilot insurance in Memphis
Auto insurance companies don’t always advertise every available discount very well, so we break down both the well known and also the more inconspicuous discounts that you can inquire about if you buy Memphis car insurance online.
- Auto/Life Discount – If the company offers life insurance, you could get better prices if you take out life insurance.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles are less likely to be stolen so companies will give you a small discount.
- Telematics Data Discounts – Drivers that enable their company to track vehicle usage by using a telematic data system such as Drivewise from Allstate or Snapshot from Progressive may see discounts if they exhibit good driving behavior.
- Drivers Education – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class in high school.
- Accident-Free Discounts – Insureds who avoid accidents and claims have much lower rates when compared with drivers with a long claim history.
You should keep in mind that most discount credits are not given to the entire cost. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears adding up those discounts means a free policy, auto insurance companies aren’t that generous.
The diagram below illustrates the comparison of Honda Pilot insurance costs with and without discounts applied to the policy rates. The rate quotes are based on a female driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, multi-policy, marriage, safe-driver, and claim-free discounts applied.
A partial list of companies who might offer some of the above discounts may include but are not limited to:
Double check with each company or agent which discounts you may be entitled to. Some credits may not be offered in Memphis. To view insurance companies that can offer you the previously mentioned discounts in Tennessee, click here.
Honda Pilot coverage analysis
The coverage information shown below outlines a range of prices for Honda Pilot models. Having a good grasp of how auto insurance policy rates are established is important for drivers to make decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Pilot LX 2WD||$192||$306||$272||$16||$82||$868||$72|
|Pilot EX 2WD||$216||$306||$272||$16||$82||$892||$74|
|Pilot EX 4WD||$216||$306||$272||$16||$82||$892||$74|
|Pilot EX-L 2WD||$216||$372||$272||$16||$82||$958||$80|
|Pilot EX-L 4WD||$216||$372||$272||$16||$82||$958||$80|
|Pilot Touring 2WD||$216||$372||$272||$16||$82||$958||$80|
|Pilot Touring 4WD||$216||$372||$272||$16||$82||$958||$80|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price information does not factor in garaging location in Memphis which can affect prices substantially.
Insurance rate increases from tickets or accidents
The example below shows how traffic citations and at-fault collisions drive up Honda Pilot yearly insurance costs for each age group. The data is based on a single female driver, full coverage, $250 deductibles, and no other discounts are factored in.
Honda Pilot insurance premiums by gender in Memphis
The example below illustrates the comparison of Honda Pilot insurance costs for male and female drivers. Data assumes no claims, a clean driving record, full coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.
Getting quotes from local Memphis insurance agents
A lot of people would rather get advice from a local agent and that is OK! An additional benefit of getting online price quotes is that drivers can save money and get cheap insurance quotes and also buy local.
To make it easy to find an agent, after completing this form (opens in new window), the quote information is immediately sent to local insurance agents in Memphis who can give free rate quotes to get your business. You won’t even need to contact any insurance agencies because prices are sent immediately to you. It’s the lowest rates and work with a local agent. If you need to compare rates from a specific insurance company, you can always find their quoting web page to submit a rate quote request.
Finding a good company shouldn’t rely on just a cheap quote. You should also get answers to these questions.
- Are claims handled at the agent’s location?
- Do you qualify for any additional discounts?
- Are they in the agency full-time?
- Is there a 24/7 contact number?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
Best auto insurance agent in Memphis
If you are wanting to find a local agent, it can be helpful to understand the different types of agencies that differ in how they can insure your vehicles. Insurance agents are classified as either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Exclusive agencies generally can only insure with one company such as State Farm, AAA, Farmers Insurance or Allstate. They are unable to provide other company’s prices so it’s a take it or leave it situation. Exclusive agencies are well trained on their company’s products which can be an advantage.
Below is a list of exclusive insurance agents in Memphis that are able to give price quote information.
Independent Agencies or Brokers
Agents in the independent channel do not write with just one company and that is an advantage because they can write policies with an assortment of companies depending on which coverage is best. If they find a cheaper price, the agent simply finds a different carrier and you stay with the same agent.
When searching for an agent, you should always compare prices from multiple independent agents to ensure the widest selection of prices.
Shown below are Memphis independent agencies that can give you price quote information.
Lower Your Memphis Insurance Prices
When buying car insurance it’s important to understand the rating factors that help calculate your policy premiums. If you have some idea of what controls the rates you pay, this enables informed choices that will entitle you to big savings.
Pleasure use saves money – The higher the miles on your Honda each year the more you’ll pay to insure your vehicle. Most insurance companies apply a rate based upon how you use the vehicle. Cars that have low annual miles receive lower rates than vehicles that are driven to work every day. It’s a good idea to make sure your car insurance coverage correctly shows the correct driver usage. A policy that improperly rates your Pilot may be wasting your money.
Having a spouse is a bonus – Having a wife or husband can actually save you money on your policy. Having a significant other generally demonstrates drivers are more stable financially and statistics show drivers who are married are more cautious.
Job stress can affect prices – Jobs like military personnel, architects, and financial analysts generally have higher rates than average attributed to job stress and lengthy work days. Other careers such as actors, engineers and the unemployed have lower than average premiums.
Additional coverages that may be costing you – There are quite a few additional coverages that you can buy if you don’t pay attention. Things like rental car reimbursement, better glass coverage, and extra equipment coverage are some examples. You may think they are a good idea at first, but now you might not need them so eliminate the coverages to reduce your premium.
Honda Pilot insurance loss statistics – Insurers use historical loss data to calculate a rate that will offset losses. Vehicles that tend to have higher number or severity of losses will have a higher premium rate.
The table below illustrates the insurance loss data used by companies for Honda Pilot vehicles. For each policy coverage, the claim probability for all vehicles, regardless of manufacturer or model, equals 100. Values under 100 indicate better than average losses, while values over 100 indicate more frequent losses or an increased chance of larger losses than average.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda Pilot 4dr 2WD||70||96||69||82||82||86|
|Honda Pilot 4dr 4WD||79||105||81||88||74||82|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance does more than just repair your car
Even though it can be expensive, maintaining insurance serves a purpose in several ways.
- The majority of states have minimum liability requirements which means the state requires a specific level of liability insurance coverage in order to license the 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 your Pilot has a loan, most lenders will require you to have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may insure your Honda at an extremely high rate and force you to reimburse them the higher price.
- Auto insurance preserves your Honda and your assets. It will also reimburse you for medical expenses incurred in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance outweigh the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is wasting up to $830 a year so you should quote rates every year to ensure rates are inline.
Cheaper auto insurance is a realistic goal
More affordable auto insurance in Memphis is attainable on the web as well as from independent agents in Memphis, and you need to price shop both in order to have the best price selection to choose from. There are still a few companies who may not provide internet price quotes and usually these small, regional companies work with independent insurance agencies.
We just covered many ideas to reduce Honda Pilot insurance car insurance rates online in Memphis. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the best car insurance rates are with a smaller regional carrier. They often have lower premium rates on specific markets than the large multi-state companies such as State Farm and Allstate.
How to buy lower priced Honda Pilot insurance in Memphis
The preferred way to get affordable Honda Pilot insurance is to compare prices annually from companies who provide auto insurance in Memphis.
- Gain an understanding of how companies price auto insurance and the steps you can take to keep rates low. Many rating factors that are responsible for high rates like multiple speeding tickets and an unacceptable credit rating can be controlled by being financially responsible and driving safely.
- Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive and State Farm, while independent agencies can provide price quotes for many different companies. Begin your rate comparison
- Compare the new rates to your existing policy to see if cheaper Pilot coverage is available. If you find a lower rate and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Notify your current company to cancel your current coverage. Submit the completed application along with a down payment to the new insurer. Don’t forget to put the certificate verifying coverage in an easily accessible location in your vehicle.
An important bit of advice to remember is to use identical coverage information on every quote and and to get quotes from as many different companies as possible. This enables an apples-to-apples comparison and a thorough price selection.
More tips and info about auto insurance can be found in the articles below:
- Older Driver Statistics (Insurance Information Institute)
- Who Has the Cheapest Memphis Auto Insurance for Safe Drivers? (FAQ)
- What Car Insurance is Cheapest for Police Officers in Memphis? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a 20 Year Old Male in Memphis? (FAQ)
- What Insurance is Cheapest for Inexperienced Drivers in Memphis? (FAQ)
- How Much is Memphis Car Insurance for Hybrid Vehicles? (FAQ)
- Neck Injury FAQ (iihs.org)
- Top Signs Your Brakes are Giving Out (State Farm)