Trying to find low-cost insurance for your Honda Ridgeline in Tennessee can be a painful process, but you can learn a few tricks to make it easier. There are both good and bad ways to buy insurance and you need to know the quickest way to compare rates for a new or used Honda and find the cheapest rates either online or from Memphis insurance agents.
A recent insurance study revealed that most consumers in Tennessee renewed their policy with the same company for a minimum of four years, and virtually 40% of consumers have never even compared quotes to find affordable rates. Most drivers in the United States can save hundreds of dollars each year by just shopping around, but they won’t spend time to find affordable insurance by shopping around.
Consumers need to do price comparisons periodically since prices change quite often. If you had the lowest rates on Honda Ridgeline insurance in Memphis a couple years back there may be better deals available now. Forget all the misinformation about insurance because you’re about to learn the best methods to lower your rates without sacrificing coverage.
Where can I get the cheapest Memphis Honda Ridgeline insurance?
The auto insurance companies shown below can provide price comparisons in Memphis, TN. To buy cheap auto insurance in Memphis, we suggest you visit two to three different companies to get the cheapest price.
These nine discounts can cut Honda Ridgeline insurance rates
Companies that sell car insurance don’t list the complete list of policy discounts very well, so the list below contains both the well known and the more hidden credits available to you.
- Memberships – Being a member of certain professional organizations could trigger savings on your bill.
- Data Collection Discounts – Memphis drivers who agree to allow data collection to analyze driving manner by using a telematic data system such as Snapshot from Progressive or Drivewise from Allstate could possibly reduce rates if they have good driving habits.
- Own a Home and Save – Owning your own home or condo can save a few bucks because of the fact that having a home is proof of financial responsibility.
- Federal Government Employee – Simply working for the federal government could cut as much as 10% off but check with your company.
- Driver Education Discount – Cut your cost by having your teen driver successfully take a driver’s education course in school.
- E-sign – Certain car insurance companies will give you a small discount for buying your policy digitally online.
- Multi-policy Discount – When you have multiple policies with one company you could earn a discount of over 10 percent off each policy depending on the company.
- Driver Training Discounts – Taking time to complete a driver safety course may get you a small discount depending on where you live.
- Seat Belts Save more than Lives – Requiring all passengers to use a seat belt can save a little off the medical payments premium.
Keep in mind that most of the big mark downs will not be given to the whole policy. Most cut the cost of specific coverages such as medical payments or collision. So despite the fact that it appears all the discounts add up to a free policy, you won’t be that lucky.
The chart below visualizes the comparison of Honda Ridgeline insurance premiums with and without discounts applied to the policy rates. The costs are based on a female driver, no violations or claims, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, homeowner, multi-car, marriage, and multi-policy discounts applied.
Popular car insurance companies and their possible discounts are shown below.
- AAA includes discounts for pay-in-full, AAA membership discount, anti-theft, education and occupation, good student, good driver, and multi-policy.
- Progressive may include discounts for good student, online quote discount, continuous coverage, multi-policy, and online signing.
- State Farm has discounts for passive restraint, Drive Safe & Save, good driver, student away at school, and accident-free.
- Esurance discounts include good driver, anti-lock brakes, multi-policy, multi-car, renters, and emergency road assistance.
- Nationwide may have discounts that include defensive driving, easy pay, anti-theft, business or organization, accident-free, and multi-policy.
If you want low cost Memphis auto insurance quotes, ask all companies you are considering which credits you are entitled to. All car insurance discounts may not be offered everywhere. For a list of companies who offer discounts in Tennessee, click here.
Rates and other information
The premium table shown next outlines estimates of coverage prices for Honda Ridgeline models. Having insight into how policy rates are figured can aid in making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Ridgeline RT 4WD||$192||$368||$368||$22||$110||$1,060||$88|
|Ridgeline RTS 4WD||$216||$368||$368||$22||$110||$1,084||$90|
|Ridgeline RTL 4WD||$216||$434||$368||$22||$110||$1,150||$96|
|Ridgeline RTL W/Navigation 4WD||$216||$434||$368||$22||$110||$1,150||$96|
|Get Your Own Custom Quote Go|
Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Prices do not factor in specific Memphis garaging location which can change coverage prices greatly.
The illustration below shows how choosing a deductible and can increase or decrease Honda Ridgeline premium costs for different age groups of insureds. The rates are based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.
Accidents and violations increase rates
The chart below shows how violations and at-fault accidents increase Honda Ridgeline car insurance costs for different insured age categories. The premiums are based on a single male driver, full coverage, $250 deductibles, and no other discounts are factored in.
Cost difference between full coverage and liability
The chart below compares Honda Ridgeline yearly insurance costs with full coverage compared to only the Tennessee minimum liability coverage. The costs are based on no accidents or driving violations, $250 deductibles, drivers are single, and no discounts are factored in.
When to stop buying physical damage coverage
There is no written rule of when to phase out full coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s say your Honda Ridgeline book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $4,000 after paying your policy deductible. If premiums are more than $400 annually to have full coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping full coverage is not advised. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.