Want a free price quotes on low-cost Honda CR-Z insurance in Memphis? Finding cheaper insurance for a Honda CR-Z in Tennessee can turn out to be a painful process, but you can use a few tricks to save time.
There is a better way to compare car insurance rates and we’ll show you the proper way to quote coverages for a new or used Honda and obtain the lowest possible price from Memphis insurance agents and online providers.
It’s important to do rate comparisons occasionally because prices go up and down regularly. Despite the fact that you may have had the lowest price on Honda CR-Z insurance in Memphis last year you can probably find a lower rate today. You’ll find a ton of advice on CR-Z insurance out there, but in a few minutes you can learn some of the best ways to lower your car insurance rates in Memphis.
Lower your insurance rates with discounts
Some providers do not advertise all possible discounts in a way that’s easy to find, so the next list breaks down some of the more common and also the more inconspicuous credits that you can use to lower your rates.
- Own a Home and Save – Simply owning a home can earn you a little savings due to the fact that maintaining a home is proof that your finances are in order.
- Memberships – Being a member of a professional or civic organization may earn a discount on your bill.
- Discounts for New Vehicles – Putting insurance coverage on a new CR-Z can save up to 30% because new vehicles have to meet stringent safety requirements.
- Claim Free – Drivers with accident-free driving histories have much lower rates as compared to bad drivers.
- Drive Less and Save – Driving fewer miles may allow you to get discounted prices on garaged vehicles.
As a disclaimer on discounts, most credits do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, that’s just not realistic.
To choose companies with discount rates in Memphis, follow this link.
The following companies have been selected to offer price quotes in Tennessee. If you want to find cheap auto insurance in Tennessee, it’s a good idea that you compare several of them in order to get a fair rate comparison.
Lower Your Memphis Insurance Costs
Smart consumers have a good feel for the different types of things that help determine your premiums. When consumers understand what influences your rates, this helps enable you to make changes that could help you find much lower annual insurance costs. Lots of factors are used in the calculation when you get a price on insurance. Most are fairly basic such as your driving history, although others are more obscure such as your credit history or your vehicle rating.
The list below includes most of the major factors used by your company to calculate your rates.
Small claims can cost you – Car insurance companies in Tennessee generally give the best rates to insureds who only file infrequent claims. If you’re an insured who likes to file claims you can look forward to higher premiums or even policy non-renewal. Your car insurance is meant to be used in the event of larger claims.
Consider raising comp and collision deductibles – Physical damage coverage, also called ‘full coverage’, protects your Honda from damage. Some instances where coverage would apply are a dented fender, damage caused by hail, and burglary. Your deductibles are the amount of money you are willing to pay if a claim is determined to be covered. The larger the amount you choose to pay out-of-pocket, the lower your rates will be.
Good drivers pay less – Good drivers have lower premiums compared to drivers with tickets. Only having one chargeable violation may cause rates to rise by twenty percent. Drivers who get license-revoking tickets such as reckless driving, hit and run or driving under the influence might be required by their state to submit a SR-22 form to the state department of motor vehicles in order to legally drive a vehicle.
Lower performance equals lower insurance costs – The performance of the car you are buying insurance for makes a significant difference in determining your rates. Small economy passenger vehicles generally have the cheapest insurance rates, but that’s not the only thing that factors into the final price.
Your spouse saves you money – Walking down the aisle can actually save you money on your policy. Marriage usually means you are more responsible and statistics show drivers who are married are more cautious.
Loss probability for a Honda CR-Z – Car insurance companies take into consideration insurance loss statistics for every vehicle to calculate a rate that offsets possible losses. Models that historically have a higher amount or frequency of claims will have increased rates. The table below demonstrates the historical loss data for Honda CR-Z vehicles.
For each policy coverage type, the statistical loss for all vehicles averaged together is considered to be 100. Values that are below 100 suggest a better than average loss history, while values over 100 indicate a higher chance of having a claim or a tendency for claims to be larger.
|Specific Honda Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda CR-Z Hybrid||106||87||83||98|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Compare rate quotes but buy from a neighborhood Memphis auto insurance agent
Some people still prefer to sit down with an agent and often times that is recommended Most agents can make sure you are properly covered and give you someone to call. A good thing about price shopping on the web is you may find cheap rate quotes and still have an agent to talk to. Putting coverage with local insurance agents is especially important in Memphis.
To find an agent, once you fill out this quick form, your insurance coverage information is submitted to local insurance agents that give free quotes for your car insurance coverage. You won’t even need to contact any insurance agencies since price quotes are sent to you instantly. If you need to get a rate quote from a particular provider, feel free to navigate to their website and submit a quote form there.
Best auto insurance agent in Memphis
If you want to use a good Memphis insurance agent, there are two types of insurance agents that differ in how they can insure your vehicles. Car insurance agents can be classified as either exclusive agents or independent agents. Either can handle car insurance, but it’s good to learn the difference in how they write coverage since it may influence the type of agent you choose.
Independent Car Insurance Agencies
Independent agencies can quote rates with many companies so they can insure your vehicles amongst many companies and possibly get better coverage at lower prices. If you want to switch companies, they can switch companies in-house without you having to go to a different agency. When searching for an agent, you will definitely want to get several quotes from multiple independent agents to maximize your price options. They also have the ability to place coverage with mutual insurance companies which can be an advantage.
The following are Memphis independent agencies that may be able to give price quotes.
- Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map
- Nationwide Insurance: Daysha J Palacio-Miller
1850 Poplar Crest Cove Ste 102 – Memphis, TN 38119 – (901) 762-8585 – View Map
- Oseman Insurance Agency
6750 Poplar Ave #410 – Memphis, TN 38138 – (901) 562-0151 – View Map
Exclusive Car Insurance Agents
Exclusive insurance agents write business for a single company and examples are Allstate, State Farm and Farm Bureau. They usually cannot shop your coverage around so they have no alternatives for high prices. Exclusive insurance agents are well schooled on their company’s products which helps them sell insurance even at higher premiums. A lot of people use the same agent primarily because of the prominent brand name and the convenience of having a single billing for all their coverages.
Shown below are Memphis exclusive agencies willing to provide price quote information.
- State Farm: Warren Hodges
5170 Sanderlin Ave #204 – Memphis, TN 38117 – (901) 767-2000 – View Map
- Ruby Williams – State Farm Insurance Agent
3624 Austin Peay Hwy #5 – Memphis, TN 38128 – (901) 388-0000 – View Map
- Dan Crawford – State Farm Insurance Agent
5705 Stage Rd #160 – Memphis, TN 38134 – (901) 372-4400 – View Map
Finding the right car insurance agent is decision based upon more than just a cheap price quote. Before buying a policy in Memphis, get answers to these questions.
- How much will you save each year by using a higher deductible?
- If they are an independent agency in Memphis, which companies do they recommend?
- Does the agent have professional designations like CIC, CPCU or AIC?
- What is their Better Business Bureau rating?
- Do the coverages you’re quoting properly cover your vehicle?
- Where would glass claims be handled in Memphis?
Insurance protects more than just your car
Despite the high cost, insurance serves several important purposes.
- Just about all states have mandatory liability insurance requirements which means you are required to buy specific minimum amounts of liability coverage 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.
- If you took out a loan on your vehicle, it’s most likely the lender will have a requirement that you carry insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank may insure your Honda at a much higher rate and require you to pay the higher premium.
- Insurance protects not only your vehicle but also your financial assets. Insurance will also pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your CR-Z more than cancel out the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver overpays as much as $869 every year so you should quote rates once a year at a minimum to save money.
Be persistent and save
When getting Memphis auto insurance quotes online, you should never sacrifice coverage to reduce premiums. In too many instances, an accident victim reduced physical damage coverage only to find out that their decision to reduce coverage ended up costing them more. The aim is to buy a smart amount of coverage at the best price but still have enough coverage for asset protection.
Consumers leave their current company for any number of reasons including high prices, delays in paying claims, unfair underwriting practices and lack of trust in their agent. Regardless of your reason for switching companies, choosing a new insurance company is easier than you think.
We covered a lot of information how to lower your Honda CR-Z insurance rates in Memphis. It’s most important to understand that the more rate comparisons you have, the higher the chance of saving money. You may even be surprised to find that the biggest savings come from a lesser-known regional company.
Steps to finding cheaper Honda CR-Z insurance in Memphis
The easiest way to find cheaper prices for Honda CR-Z insurance in Memphis is to compare quotes once a year from providers in Tennessee.
- Get an understanding of how car insurance works and the measures you can take to keep rates in check. Many policy risk factors that result in higher prices like traffic violations and a less-than-favorable credit rating can be eliminated by making minor driving habit or lifestyle changes.
- Obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies.
- Compare the new rate quotes to your current policy and see if there is a cheaper rate. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide proper notification to your current company of your intent to cancel your current coverage. Submit any necessary down payment along with the completed application for the new coverage. Once coverage is bound, put the certificate verifying coverage along with the vehicle’s registration papers.
One key aspect of rate comparisons is to use identical coverages on every quote request and and to analyze as many carriers as you can. This provides a fair price comparison and a complete rate analysis.
Additional auto insurance information is available at these links:
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- What Auto Insurance is Cheapest for a Chevrolet Equinox in Memphis? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Memphis? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Teen Driver Statistics (Insurance Information Institute)
- All About Airbag Safety (State Farm)