Car Insurance Rates for a Nissan GT-R in Memphis

Really, the only way to find more affordable Nissan GT-R insurance is to start comparing rates regularly from insurers that sell auto insurance in Memphis. Price quotes can be compared by following these steps.

1. Try to learn about how companies set rates and the changes you can make to keep rates in check. Many factors that drive up the price such as getting speeding tickets and poor credit rating can be improved by making minor changes in your lifestyle. Continue reading for additional tips to prevent high rates and find discounts that may have been missed.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like GEICO and State Farm, while independent agents can quote prices from many different companies.
3. Compare the new rate quotes to the price on your current policy and determine if cheaper GT-R coverage is available. If you find better rates and change companies, verify that coverage does not lapse between policies.
4. Provide written notification to your current company of your intent to cancel the current policy. Submit payment along with a signed and completed policy application to your new insurance company. As soon as you receive it, safely store the proof of insurance certificate in your glove compartment.

A tip to remember is to try to compare the same physical damage deductibles and liability limits on each quote and and to analyze every company you can. This guarantees an apples-to-apples comparison and the best rate selection.

It’s well known that car insurance companies don’t want you comparing rates. Insureds who shop around for the cheapest rate will most likely switch to a new company because there is a good probability of finding a policy with better rates. A study showed that consumers who compared rate quotes regularly saved approximately $72 a month compared to other drivers who never shopped for cheaper rates.

If finding the best price on Nissan GT-R insurance is why you’re reading this, then having some insight into how to find companies and compare insurance premiums can help simplify the process.

The providers in the list below are our best choices to provide comparison quotes in Memphis, TN. If you want to find the best auto insurance in Memphis, it’s a good idea that you compare several of them to find the lowest car insurance rates.

Facts and figures for Nissan GT-R insurance

The data table displayed next outlines detailed analysis of insurance premium costs for Nissan GT-R models. Being able to understand how insurance policy premiums are established can be useful when making smart choices when purchasing an insurance policy.

Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Information does not factor in specific Memphis garaging location which can revise price quotes significantly.

Should you raise deductibles?

One common question asked by Memphis drivers is the level to set your comp and collision deductibles. The data tables below approximate the rate difference of buying low and high physical damage coverage deductibles. The first set of rates uses a $250 deductible and the second data table uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rate quotes do not factor in your specific Memphis location which can affect coverage prices noticeably.

Based on the above data, using a $250 deductible will cost in the ballpark of $20 more each month or $240 a year across all Nissan GT-R models than selecting the higher $500 deductible. Since you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally average at a minimum 13 months between claim filings, you would probably be better off if you elect the higher deductible. The illustration below shows a better example of how this decision is made.

The diagram below illustrates how choosing a deductible and can influence Nissan GT-R insurance rates for different age categories. The costs are based on a single male driver, full coverage, and no additional discounts are factored in.

Difference between liability only and full coverage rates

The information below visualizes the comparison of Nissan GT-R insurance costs when comparing full coverage to liability only. The data is based on no claims or violations, $500 deductibles, drivers are single, and no policy discounts are applied.

When to buy liability coverage only

There is no definitive guideline to exclude comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your Nissan GT-R replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after the deductible is paid. If it’s costing in excess of $500 a year for your policy with full coverage, then you may want to consider only buying liability coverage.

There are a few cases where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Save money on Nissan GT-R insurance in Memphis with these discounts

Car insurance is easily one of your largest bills, but you might be missing out on some discounts that you may not know about. Larger premium reductions will be automatically applied at the time of purchase, but some need to be specifically requested before they will apply.

• Passive Restraint Discount – Factory air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.
• Government Employee Discount – Active or former government employment could provide a small rate reduction depending on your car insurance provider.
• Seat Belt Usage – Using a seat belt and requiring all passengers to buckle up before driving can save a little on the medical payments or PIP coverage costs.
• Clubs and Organizations – Participating in certain professional organizations may earn a discount when getting a Memphis auto insurance quote.
• Multi-car Discount – Buying a policy with multiple cars or trucks with the same car insurance company can reduce the rates for all insured vehicles.

Consumers should know that some credits don’t apply to the whole policy. Most only reduce the price of certain insurance coverages like comp or med pay. So when the math indicates adding up those discounts means a free policy, it doesn’t quite work that way. But all discounts should help reduce your premiums.

The illustration below visualizes the comparison of Nissan GT-R car insurance rates with and without discounts applied to the premium. The prices are based on a female driver, no accidents, no driving violations, Tennessee state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, multi-policy, claim-free, and marriage discounts applied.

Companies and a summarized list of policyholder discounts include:

• Progressive offers premium reductions for continuous coverage, online signing, homeowner, multi-vehicle, and good student.
• SAFECO policyholders can earn discounts including anti-theft, accident prevention training, teen safe driver, multi-car, and safe driver.
• American Family offers discounts for good driver, defensive driver, mySafetyValet, good student, multi-vehicle, and accident-free.
• MetLife has discounts for good student, good driver, accident-free, multi-policy, and defensive driver.
• GEICO discounts include multi-policy, military active duty, daytime running lights, membership and employees, multi-vehicle, anti-lock brakes, and good student.
• The Hartford has savings for driver training, bundle, air bag, good student, and anti-theft.

When getting free Memphis auto insurance quotes, it’s a good idea to every insurance company to give you their best rates. All car insurance discounts might not be offered everywhere. For a list of providers that offer discounts in Memphis, follow this link.

Three reasons to not skimp on car insurance

Despite the high cost of buying insurance for a Nissan GT-R in Memphis, insurance serves several important purposes.

• Most states have mandatory liability insurance requirements which means you are required to buy a specific level of liability protection in order to be legal. 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 have a loan on your Nissan GT-R, almost every bank will force you to buy full coverage to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Nissan at a significantly higher premium and force you to pay the higher premium.
• Insurance protects not only your vehicle but also your assets. It will also provide coverage for all forms of medical expenses that are the result of an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses in the event you are sued. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.

The benefits of buying enough insurance definitely exceed the price paid, especially for larger claims. An average driver in America overpays more than $850 per year so we recommend shopping around each time the policy renews to save money.

How to find a good Memphis auto insurance company

Ending up with the best insurance provider can be rather challenging considering how many different insurance companies sell coverage in Memphis. The company rank data shown next can help you pick which coverage providers you want to consider buying from.

Top 10 Memphis Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Top 10 Memphis Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

When do I need an agent’s advice?

When quoting and choosing proper insurance coverage, there really is not a one size fits all plan. Every insured’s situation is different.

For example, these questions may help highlight whether or not you would benefit from an agent’s advice.

• When should I not file a claim?
• Am I covered by my spouse’s policy after a separation?
• Is motorclub coverage worth it?
• Which is better, split liability limits or combined limits?
• Is coverage enough to protect my assets?
• What is UM/UIM insurance?
• Does my liability insurance cover pulling a trailer or camper?

If you can’t answer these questions but one or more may apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, complete this form. It’s fast, doesn’t cost anything and may give you better protection.

Local insurance agents

Some people just want to sit down with an agent and we recommend doing that Good agents can answer important questions and give you someone to call. One of the benefits of price shopping on the web is you can get better rates but also keep your business local. Supporting local agents is especially important in Memphis.

To find an agent, once you fill out this form (opens in new window), the coverage information gets sent to local insurance agents who want to provide quotes for your business. There is no reason to leave your computer because prices are sent to the email address you provide. If you have a need to get a rate quote from a particular provider, you can always visit that company’s website and fill out their quote form.

If you prefer to buy car insurance from an insurance agent, it’s important to understand the types of agencies from which to choose. Car insurance agents in Memphis are considered either exclusive agents or independent agents. Either one can sell car insurance policies, but it’s worth mentioning why they differ because it can factor into which type of agent you select.

Independent Insurance Agents

Independent insurance agents do not have single company limitations and that allows them to write policies with a variety of different insurance companies and find the cheapest car insurance rates. If premiums increase, they simply switch companies in-house and you don’t have to do anything. If you are trying to find cheaper rates, we recommend you get insurance quotes from independent agents in order to compare the most rates.

Featured below is a short list of independent agents in Memphis who may provide pricing information.

More Memphis agents

Exclusive Agents

Agents of this type are contracted to one company and examples are Allstate, AAA, Farmers Insurance, and State Farm. They are unable to give you multiple price quotes so you might not find the best rates. Exclusive agents are trained well on sales techniques which helps them compete with independent agents.

Below is a list of exclusive insurance agents in Memphis that can give you price quotes.

More Memphis agents

Choosing the best car insurance agent requires you to look at more than just a low price. Here are some questions you might want to ask.

• When do they do policy reviews?
• How experienced are they in personal risk management?
• Does the agent have a valid license to sell insurance in Tennessee?
• Are they giving you every discount you deserve?
• How long has their agency been open in Memphis?
• Do you work with a CSR or direct with the agent?
• Is working in the agency their full-time job?

Upon receiving positive feedback and an acceptable price quote, you may have found an insurance agent that is professional and can properly service your car insurance policy. It’s important to know that policyholders can cancel your policy any time you want so don’t feel you’re contractually obligated to any specific agency with no way out.