It’s a fact that insurance companies don’t want you quoting rates from other companies. Insureds who shop around for the cheapest price are likely to move their business because there is a significant possibility of finding a policy with better rates. A study discovered that people who shopped around every year saved approximately $3,450 over four years compared to other drivers who never compared prices.
If finding the best price on Chevy Sonic insurance in Memphis is your intention, then having some knowledge of how to compare insurance rates can help simplify the task of finding more affordable coverage.
If you want to save money, the best way to get low-cost Chevy Sonic insurance is to make a habit of comparing prices annually from providers in Memphis. You can shop around by completing these steps.
- Step 1: Try to understand car insurance and the things you can control to keep rates in check. Many risk factors that cause rate increases like accidents, traffic violations, and a less-than-favorable credit rating can be eliminated by making minor driving habit or lifestyle changes.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide prices for many different companies.
- Step 3: Compare the quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate quote, ensure there is no coverage lapse between policies.
- Step 4: Provide proper notification to your current company of your intention to cancel your existing policy. Submit the application along with any required down payment to your new company or agent. As soon as you can, keep the new proof of insurance certificate in your glove compartment.
A key point to remember is to compare similar coverage information on every quote request and and to get quotes from all possible companies. This helps ensure an accurate price comparison and and a good selection of different prices.
Affordable Memphis Chevy Sonic insurance quotes
Most larger insurance companies like Progressive, GEICO, Allstate and State Farm give price estimates online. Comparing prices online for Chevy Sonic insurance in Memphis is easy for anyone because you just enter your required coverages into the quote form. After you complete the form, the quote system obtains information on your driving record and credit history and quotes a price based on the data you entered.
This helps simplify price comparisons, and it’s absolutely necessary to compare as many rates as possible in order to find the cheapest price on auto insurance.
To compare pricing, check out the auto insurance providers below. If you have your current policy handy, we recommend you input your coverages as shown on your current policy. This ensures you will be getting a rate comparison based on identical coverages.
The companies shown below offer quotes in Tennessee. To find cheap car insurance in TN, we recommend you visit two to three different companies to get the most affordable price.
Why you need quality insurance for your Sonic
Despite the high cost, insuring your vehicle serves a purpose in several ways.
First, the majority of states have mandatory insurance requirements which means the state requires a specific minimum amount of liability insurance if you want to drive legally. 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.
Second, if you took out a loan on your car, almost every bank will make it mandatory that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the lender may insure your Chevy at an extremely high rate and force you to reimburse them for the much more expensive policy.
Third, insurance protects your vehicle and your assets. Insurance will pay for medical transport and hospital expenses incurred in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of carrying adequate insurance more than offset the price you pay, particularly for liability claims. Despite what companies tell you, the average driver is currently overpaying as much as $825 a year so it’s important to compare rates at least once a year to save money.
What Determines Chevy Sonic Insurance Premiums?
Part of the auto insurance buying process is learning the factors that help determine your auto insurance rates. When consumers understand what influences your rates, this empowers consumers to make smart changes that can help you get lower premium levels.
- Lower rates for safer vehicles – Cars with five star safety ratings tend to have better insurance rates. These vehicles reduce injuries and lower rates of occupant injuries translates into fewer and smaller insurance claims and cheaper rates on your policy. If your Chevy Sonic scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
- Prices for men may be higher – Statistics show women are more cautious behind the wheel. The data does not necessarily mean that females are better at driving than males. They both have accidents at a similar rate, but the men have costlier accidents. Not only are claims higher, but men receive more costly citations such as DWI and reckless driving.
- Amount of liability protection – The liability coverage on your policy is the coverage that protects you if ever a court rules you are at fault for causing personal injury or damage in an accident. It provides legal defense coverage to defend your case. It is affordable coverage as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.
- Do you qualify for a multi-policy discount? – The majority of insurers give a discount to policyholders that have more than one policy in the form of a multi-policy discount. Discounts can add up to 10 percent or more. Even with this discount applied, it’s in your best interest to shop around to guarantee you are still saving the most. Drivers may still find lower rates by buying auto insurance from a different company.
- Never go without auto insurance – Having a gap between insurance policy dates will be a sure-fire way to drive up your policy premiums. Not only will you pay higher rates, the inability to provide proof of insurance may result in a license revocation or jail time.
- Commute or pleasure use – The higher the miles on your Chevy in a year’s time the more you’ll pay to insure your vehicle. Almost all companies apply a rate based on their usage. Vehicles not used for work or commuting receive lower rates than those that get driven frequently. An improperly rated Sonic can cost quite a bit. Double check that your auto insurance declarations sheet shows the correct driver usage, because it can save money.
Chevy Sonic claim probability – Insurers include the past claim history for a vehicle when setting premium prices. Models that the data shows to have a higher amount or frequency of claims will have higher premium rates. The next table illustrates the compiled insurance loss statistics for Chevy Sonic vehicles.
For each policy coverage, the claim amount for all vehicles, as a total average, equals 100. Percentage values below 100 mean the vehicle has better than average losses, while percentage numbers above 100 point to more losses or statistically larger claims.
Insurance Loss Ratings for Chevrolet Sonic Vehicles Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Sonic 104 132 91 167 189 159BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When do I need an agent’s advice?
Always keep in mind that when comparing coverage online or from an agent, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s.
Here are some questions about coverages that could help you determine whether or not you would benefit from professional advice.
- How can I force my company to pay a claim?
- Is a fancy paint job covered?
- When should I not file a claim?
- When does my teenage driver need to be added to my policy?
- Do I need replacement cost coverage?
- Can I afford to buy a different vehicle if my Chevy Sonic is totaled?
- What states are considered no-fault?
If you don’t know the answers to these questions, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form.
What is the best car insurance company in Memphis?
Finding a highly-rated auto insurance company can be difficult considering how many choices you have in Tennessee. The rank data in the lists below could help you pick which auto insurance companies to look at when comparing rate quotes.
Top 10 Memphis Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Memphis Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Shop around and save
Drivers change insurance companies for many reasons like poor customer service, policy cancellation, high prices or even an unsatisfactory settlement offer. Regardless of your reason for switching companies, choosing a new insurance company is actually quite simple.
When you buy Memphis car insurance online, don’t be tempted to sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The goal is to buy enough coverage at the best possible price while not skimping on critical coverages.
We covered a lot of techniques to compare Chevy Sonic insurance premium rates in Memphis. It’s most important to understand that the more rate quotes you have, the higher your chance of finding the cheapest Chevrolet Sonic rate quotes. Drivers may even discover the best premium rates are with a small local company.
- What Does No-Fault Insurance Cover? (Allstate)
- Which Company has the Cheapest Auto Insurance in Memphis, TN? (FAQ)
- How Much is Car Insurance for Drivers with a Bad Driving Record in Memphis? (FAQ)
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- Shopping for a Safe Car (Insurance Information Institute)
- Auto Insurance Facts and Statistics (Insurance Information Institute)