We don’t have to tell you that auto insurance companies don’t want customers comparing rates. Consumers who perform rate comparisons are highly likely to switch to a new company because they stand a good chance of finding a policy with more affordable rates. A recent survey discovered that consumers who regularly compared price quotes saved an average of $72 a month compared to people who never shopped around for cheaper prices.
If saving money on Oldsmobile Alero insurance is your goal, understanding how to compare insurance premiums can make the process more efficient.
The easiest way to save on car insurance rates is to regularly compare quotes from companies who provide car insurance in Memphis. Price quotes can be compared by completing these steps.
- Spend a few minutes and learn about coverages and the factors you can control to prevent expensive coverage. Many factors that result in higher rates like speeding and a less-than-favorable credit history can be eliminated by making lifestyle changes or driving safer.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO or Farmers Insurance, while independent agencies can quote rates for a wide range of insurance providers.
- Compare the new rate quotes to your existing coverage and determine if cheaper Alero coverage is available. If you find a lower rate quote and change companies, verify that coverage does not lapse between policies.
- Give notification to your agent or company of your intent to cancel your current car insurance policy. Submit the required down payment along with the signed application to your new company or agent. As soon as coverage is bound, put the new certificate verifying proof of insurance with your registration paperwork.
One thing to point out is to compare the same deductibles and limits on each quote and to quote with every insurance company. Doing this enables a fair price comparison and a better comparison of the market.
The auto insurance companies shown below offer free rate quotes in Tennessee. If you wish to find the best auto insurance in Tennessee, it’s highly recommended you get rate quotes from several of them to get the best price comparison.
Three main reasons to buy auto insurance
Despite the high insurance cost for a Oldsmobile Alero in Memphis, insurance serves a purpose in several ways.
- The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability if you don’t want to risk a ticket. 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 Alero has a loan, it’s guaranteed your bank will require you to have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank may buy a policy for your Oldsmobile for a much higher rate and make you pay for the expensive policy.
- Insurance safeguards both your Oldsmobile and your personal assets. It will also provide coverage for medical bills for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses in the event you are sued. If your Oldsmobile gets damaged, comprehensive and collision coverage will cover the repair costs.
The benefits of insuring your car definitely exceed the price paid, especially when you need to use it. As of last year, the average driver in Tennessee is overpaying more than $800 each year so shop around at least once a year to make sure the price is not too high.
Get lower-cost rates on Oldsmobile Alero insurance in Memphis with these auto insurance discounts
Some insurance providers don’t necessarily list all their discounts very clearly, so the list below details a few of the more common and also the more inconspicuous credits available to bring down your rates.
- Discounts for Safe Drivers – Drivers who don’t get into accidents could pay up to 40% less than less cautious drivers.
- E-sign – A few larger online companies will discount your bill up to fifty bucks get Memphis car insurance digitally online.
- Low Mileage Discounts – Low mileage vehicles may enable drivers to earn better rates on cars that stay parked.
- Life Insurance – Some insurance companies give a lower premium rate if you buy some life insurance in addition to your auto policy.
- Driver Education Discount – It’s a good idea to have your young drivers participate in a local driver’s education class as it can save substantially.
- Telematics Data – Drivers who elect to allow driving data submission to look at driving manner by using a small device installed in their vehicle such as Progressive’s Snapshot may get a rate reduction as long as they are good drivers.
- Multiple Vehicles – Insuring more than one vehicle with the same auto insurance company can reduce the rates for all insured vehicles.
It’s important to understand that some credits don’t apply to the entire cost. Most only apply to specific coverage prices like comp or med pay. Just because you may think you would end up receiving a 100% discount, you aren’t that lucky.
To locate providers with discount rates in Tennessee, follow this link.
Shop online but buy locally
Certain consumers prefer to talk to an insurance agent and that is a personal choice. Professional agents can help you choose the best coverages and help submit paperwork. The biggest benefit of comparing rates online is you may find lower premium rates and still buy from a local agent. Supporting small agencies is important especially in Memphis.
By using this short form, your insurance data is transmitted to agents in your area who will give competitive quotes and help you find cheaper coverage. There is no need to even leave your home since rate quotes are delivered instantly to you. If you have a need to get a price quote from a specific company, you can always find their quoting web page and submit a quote form there.
If you would like to find a reputable agency, you should know the different types of agencies that differ in how they can insure your vehicles. Car insurance agents in Memphis may be either exclusive or independent. Either can do a good job, but it’s important to know how they are different because it can influence the type of agent you choose.
Independent Agencies or Brokers
Independent insurance agents often have affiliation with several companies so they can write business with an assortment of companies and get you the best rates possible. If your premiums go up, they simply switch companies in-house and you won’t have to switch agencies. If you are comparing rate quotes, you need to get some free quotes from at least one independent agent for maximum quote selection. They often place coverage with different regional companies which can be an advantage.
Featured below are independent agencies in Memphis who may provide competitive price quotes.
- Sneed Insurance
6645 Stage Rd #200 – Memphis, TN 38134 – (901) 372-4580 – View Map
- Farris Evans Insurance Agency Inc
1568 Union Ave – Memphis, TN 38104 – (901) 274-5424 – View Map
- Smith-Berclair Insurance
855 Ridge Lake Blvd #400 – Memphis, TN 38120 – (901) 753-4323 – View Map
Exclusive Car Insurance Agencies
These type of agents can usually just insure with one company and examples are Farmers Insurance, State Farm, or Allstate. They are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agencies are highly trained on the products they sell and that allows them to sell at a higher price point. Some insured continue to buy from the same agent for years partially due to the prominence of the brand rather than having the cheapest rates.
Shown below are exclusive insurance agencies in Memphis that are able to give price quote information.
- Allstate Insurance: Brandon Goodrich
3725 Riverdale Rd Ste 4 – Memphis, TN 38115 – (901) 794-0080 – View Map
- Kathy Thurmond-Edwards- State Farm Insurance Agent
680 W Brookhaven Cir – Memphis, TN 38117 – (901) 767-7744 – View Map
- Sylvia Walker – State Farm Insurance Agent
2900 Kirby Pkwy Ste 2 – Memphis, TN 38119 – (901) 794-8848 – View Map
Choosing an insurance agency requires you to look at more than just a cheap price quote. You should also get answers to these questions.
- Is their price quote a firm figure or are their hidden costs?
- Will they make sure you get an adequate claim settlement?
- Is the agent and/or agency licensed to do business in Tennessee?
- How often do they review policy coverages?
- What insurance companies do they recommend if they are an independent agent?
- Are claims handled at the agent’s location?
- If your car is in the repair shop, do you have coverage for a rental car?
If you feel you receive good feedback and a good coverage price, most likely you have located an insurance agency that can be trusted to properly insure your vehicles.
Find cheaper rates by comparing often
We covered a lot of information how to compare Oldsmobile Alero insurance auto insurance rates in Memphis. It’s most important to understand that the more companies you get premium rates for, the higher your chance of finding affordable Oldsmobile Alero insurance quotes. Consumers could even find that the lowest priced car insurance comes from the smaller companies.
The cheapest Oldsmobile Alero insurance in Memphis can be found both online and with local Memphis insurance agents, and you need to price shop both to get a complete price analysis. Some insurance providers don’t offer the ability to get quotes online and usually these small insurance companies only sell coverage through local independent agencies.
People change insurance companies for many reasons like delays in paying claims, lack of trust in their agent, extreme rates for teen drivers and even denial of a claim. It doesn’t matter what your reason, finding a great new company can be easy and end up saving you some money.
For more information, link through to these articles:
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- How Much is Car Insurance for Drivers with a Bad Driving Record in Memphis? (FAQ)
- Who Has Affordable Memphis Car Insurance for a Nissan Altima? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Ford F-150 in Memphis? (FAQ)
- What Auto Insurance is Cheapest for Drivers with Good Credit in Memphis? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for a Honda CR-V? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for a School Permit? (FAQ)
- Understanding your Policy (NAIC.org)
- How to Avoid Staged Accidents (State Farm)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Credit and Insurance Scores (Insurance Information Institute)