It’s safe to conclude that auto insurance companies don’t want policyholders to compare prices from other companies. Insureds who rate shop once a year are highly likely to move their business because there are good odds of finding a more affordable policy. Remarkably, a study showed that people who make a habit of shopping around saved approximately $72 a month compared to policyholders who don’t make a habit of comparing rates.
If finding the cheapest price for auto insurance in Memphis is your intention, then understanding how to find and compare coverages can save time, money, and frustration.
Really, the only way to find the cheapest price for auto insurance rates in Memphis is to regularly compare quotes from insurance carriers who sell auto insurance in Tennessee.
- First, get an understanding of how auto insurance works and the things you can change to keep rates down. Many things that cause rate increases such as inattentive driving and a substandard credit history can be remedied by making minor changes in your lifestyle.
- Second, quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Allstate, while independent agents can provide price quotes from multiple companies.
- Third, compare the new rate quotes to your existing rates to determine if you can save on Cherokee insurance in Memphis. If you find a better price, make sure there is no lapse in coverage.
The key aspect of shopping around is that you’ll want to make sure you compare the same amount of coverage on every quote and and to get price estimates from as many car insurance companies as possible. Doing this helps ensure the most accurate price comparison and the best price quote selection.
Companies offering Jeep Cherokee insurance in Tennessee
The companies shown below are ready to provide comparison quotes in Memphis, TN. To get cheap auto insurance in TN, we recommend you visit several of them to get the cheapest price.
These nine discounts can slash Jeep Cherokee insurance rates
Insurance is neither fun to buy or cheap, but you might be missing out on some discounts that you may not even know about. Certain reductions will be credited at quote time, but occasionally some discounts must be manually applied before they will apply.
- Policy Bundle Discount – If you have multiple policies with the same insurance company you will save 10% to 20% off each policy.
- Home Ownership Discount – Owning a home in Memphis can save you money because maintaining a house is proof of financial responsibility.
- Telematics Discount – Drivers that enable driving data submission to monitor driving patterns by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks as long as they are good drivers.
- Resident Student – Older children who live away from home at college and do not take a car to college may qualify for this discount.
- Discount for Life Insurance – Select companies reward you with a break if you buy life insurance from them.
- Lower Rates for Military – Having a family member in the military could trigger a small discount.
- E-sign Discounts – Some larger companies will discount your bill up to fifty bucks for completing your application over the internet.
- Mature Driver Discount – Drivers that qualify as senior citizens may be able to get a slight reduction on a Memphis car insurance quote.
- Professional Organizations – Having an affiliation with a professional or civic organization is a simple method to lower premiums when shopping for insurance.
As a disclaimer on discounts, some of the credits will not apply to your bottom line cost. Most only reduce individual premiums such as comp or med pay. So even though it sounds like you can get free auto insurance, that’s just not realistic.
If you would like to view insurance companies with discount insurance rates in Memphis, click this link.
Auto insurance quotes from local neighborhood Memphis car insurance agents
Certain consumers would prefer to buy from a local agent and that can be a smart move Good insurance agents can point out coverage gaps and help in the event of a claim. A nice benefit of comparing auto insurance online is that you can find lower rates and still have a local agent.
For easy comparison, once you complete this quick form, your insurance coverage information is submitted to local insurance agents who can give free rate quotes for your business. It’s much easier because you don’t need to do any legwork as quotes are delivered straight to your inbox. If you need to get a rate quote for a specific company, you just need to jump over to their website and complete a quote there.
Finding the right provider shouldn’t rely on just the price. Any agent in Memphis should be forthright in answering these questions:
- Do they specialize in personal lines auto insurance in Memphis?
- Are you getting all the discounts the company offers?
- Does the agent recommend any additional coverage?
- Do they write coverage based solely on cost?
- If your car is totaled, how to they determine the replacement cost?
- Do they review policy coverages at every renewal?
- Are they in the agency full-time?
Pick the best car insurance agent in Memphis for you
If you are wanting to find a reputable insurance agent or broker, it’s important to understand the types of insurance agents and how they work. Agents are considered either exclusive or independent (non-exclusive). Either type can insure your vehicles, but it’s good to learn the subtle differences because it can influence the type of agent you choose.
Exclusive Insurance Agencies
Agents in the exclusive channel normally can only provide a single company’s rates and examples are State Farm, Allstate and AAA. They generally cannot provide other company’s prices so you might not find the best rates. These agents are usually well trained in insurance sales which helps them sell on service rather than price.
The following is a list of exclusive insurance agencies in Memphis that are able to give price quote information.
Independent Insurance Agents
Independent insurance agents do not write with just one company so they can write business with a variety of different insurance companies and find the cheapest auto insurance rates. If you are not satisfied with one company, the business is moved internally and you don’t have to do anything.
If you need cheaper auto insurance rates, you definitely need to get several quotes from independent agents to have the best price comparison.
Below are Memphis independent agents willing to provide rate quotes.
Auto insurance coverage options for a Jeep Cherokee
Understanding the coverages of your auto insurance policy helps when choosing the right coverages and proper limits and deductibles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. Shown next are the normal coverages offered by auto insurance companies.
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle when other motorists do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Due to the fact that many Tennessee drivers carry very low liability coverage limits (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for prosthetic devices, chiropractic care, surgery, dental work and nursing services. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay
Auto liability insurance
Liability insurance can cover injuries or damage you cause to other people or property by causing an accident. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/15 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $15,000.
Liability coverage protects against things like funeral expenses, medical expenses, court costs and repair bills for other people’s vehicles. How much liability coverage do you need? That is a decision to put some thought into, but buy as much as you can afford. Tennessee state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy more coverage.
The illustration below shows why buying the state minimum limits may not be adequate coverage.
This pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as hitting a parking meter, crashing into a ditch and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to bump up the deductible on your Cherokee to bring the cost down.
This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like hitting a deer, vandalism and hail damage. The most a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Cheap car insurance rates are possible
Budget-conscious Jeep Cherokee insurance can be purchased on the web as well as from insurance agents, so you should compare both to have the best chance of lowering rates. Some car insurance companies do not provide price quotes online and usually these small insurance companies only sell through local independent agencies.
When you buy Memphis car insurance online, it’s a bad idea to buy less coverage just to save a little money. There are too many instances where drivers have reduced physical damage coverage to discover at claim time they didn’t have enough coverage. The goal is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
Even more information can be read at these sites:
- Auto Insurance Learning Center (State Farm)
- Who Has the Cheapest Auto Insurance Quotes for a Ford F-150 in Memphis? (FAQ)
- How Much are Memphis Car Insurance Rates for a Honda Civic? (FAQ)
- Determining Auto Insurance Rates (GEICO)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- What is Full Coverage? (Allstate)