It’s an obvious statement that car insurance companies don’t want policyholders to shop around. Insureds who rate shop once a year will probably buy a new policy because of the high probability of finding a lower rate. A survey found that drivers who compared rates annually saved over $865 annually compared to policyholders who don’t regularly compare prices.
If finding budget-friendly rates on car insurance is why you’re reading this, then having an understanding of the best way to compare insurance coverage can make the process more efficient.
If your goal is the lowest price, then the best way to get discount car insurance rates in Memphis is to compare prices annually from companies in Tennessee.
- Step 1: Read and learn about the coverage provided by your policy and the modifications you can make to lower rates. Many rating factors that result in higher prices like speeding and a not-so-good credit history can be improved by making minor changes in your lifestyle.
- Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from one company like Progressive and State Farm, while independent agencies can quote rates from multiple sources.
- Step 3: Compare the quotes to your existing rates to determine if you can save on Spectra insurance. If you can save some 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.
- Step 4: Notify your agent or company of your intention to cancel your current coverage. Submit the application along with any required down payment to the newly selected company. Once received, keep the new certificate verifying proof of insurance in your glove compartment.
The key thing to know about shopping around is to use identical coverage information on every price quote and and to analyze as many carriers as you can. This enables an accurate price comparison and a complete price analysis.
If you already have coverage or are shopping for new coverage, follow these tips to find the best rates without sacrificing coverage. Our objective is to instruct you on how to get online quotes. Smart buyers only need an understanding of the most time-saving way to get comparison rates instantly.
Auto insurance providers offering cheap prices in Tennessee
The following companies are our best choices to provide price comparisons in Tennessee. To locate cheap auto insurance in Memphis, we recommend you get prices from several of them to get the most competitive price.
How Insurers Calculate Kia Spectra Insurance Rates
Lots of factors are taken into consideration when pricing auto insurance. Some are obvious such as your driving record, although others are not quite as obvious such as your marital status or your commute time.
- Don’t let your coverage lapse – Having a lapse in insurance coverage is a guaranteed way to trigger a rate increase. In addition to paying higher premiums, failure to provide proof of insurance could earn you a revoked license or a big fine. You could then be forced to prove you have insurance by filing a SR-22 with the Tennessee department of motor vehicles.
- Lower miles driven equals lower premium – Driving more miles every year the more you will pay for car insurance. A lot of companies price each vehicle’s coverage determined by how the vehicle is used. Cars and trucks used primarily for pleasure use get more affordable rates than those used for commuting. Incorrect rating for your Spectra is throwing money out the window. Double check that your car insurance policy shows how each vehicle is driven.
- Theft deterrents lower rates – Purchasing a vehicle with anti-theft technology or alarm system can get you a discount on your car insurance. Advanced theft deterrents such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent auto theft.
- Poor credit can mean higher costs – Your credit history can be an important factor in calculating your premium rate. So if your credit history is low, you could pay less to insure your Kia Spectra if you clean up your credit. Insureds with high credit ratings tend to be more responsible and file fewer claims than drivers with lower ratings.
- Your location is important – Living in less populated areas is a positive aspect when insuring your vehicles. People in densely populated areas regularly have more traffic problems and higher rates of accident claims. Fewer drivers on the road means reduced accidents and also fewer theft and vandalism claims.
- Add-on coverages push up rates – Insurance policies have a lot of extra coverages you can purchase on your Spectra policy. Coverages for vanishing deductibles, better glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. The coverages may be enticing initially, but your needs may have changed so eliminate the coverages to reduce your premium.
- Reduce car insurance rates by driving cars with good safety ratings – Safer cars tend to have better insurance rates. These vehicles protect occupants better and fewer serious injuries means lower claim amounts which can mean better rates for you. If your Kia has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
- Do females or males drive better? – Statistics demonstrate that men are more aggressive behind the wheel. It does not mean men are WORSE drivers than women. Females and males get in at-fault accidents at about the same rate, but the male of the species tend to have higher claims. Not only that, but men also get higher numbers of serious violations such as DWI and reckless driving.
Slash your car insurance rates with discounts
Car insurance is easily one of your largest bills, but you might find some hidden discounts that could drop your premiums quite a bit. Certain reductions will be credited when you quote, but occasionally some discounts must be asked about before being credited.
- Senior Citizen Discount – If you’re over the age of 55, you may receive lower premium rates.
- Policy Bundle Discount – When you combine your auto and home insurance with one company you could get a discount of over 10 percent off each policy depending on the company.
- Drive Safe and Save – Insureds without accidents can save up to 40% or more on their Memphis car insurance quote compared to accident prone drivers.
- Drive Less and Save – Keeping the miles down on your Kia could be rewarded with cheaper rates.
- Driver Education Discount – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course in school or through a local driver safety program.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn better car insurance rates if you take out some life insurance in addition to your auto policy.
- Multi-Vehicle Discounts – Buying coverage for multiple cars or trucks on the same car insurance policy can reduce the rates for all insured vehicles.
- Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
- Discounts for Federal Employees – Employees or retirees of the government may qualify for a discount when you quote Memphis car insurance depending on your company.
- Payment Method – If you can afford to pay the entire bill as opposed to paying monthly you may have a lower total premium amount.
A little disclaimer on discounts, most discounts do not apply to all coverage premiums. Some only apply to specific coverage prices like liability, collision or medical payments. So even though they make it sound like it’s possible to get free car insurance, nobody gets a free ride.
Companies and the discounts they provide are detailed below.
- Travelers offers discounts including hybrid/electric vehicle, multi-policy, good student, IntelliDrive, driver training, student away at school, and new car.
- 21st Century may offer discounts for student driver, teen driver, 55 and older, automatic seat belts, early bird, and defensive driver.
- State Farm offers premium reductions for driver’s education, good student, multiple policy, passive restraint, multiple autos, student away at school, and defensive driving training.
- GEICO includes discounts for five-year accident-free, membership and employees, defensive driver, good student, and driver training.
- SAFECO offers discounts for teen safe driver, multi-car, safe driver, anti-theft, teen safety rewards, and drive less.
- AAA discounts include multi-car, pay-in-full, multi-policy, anti-theft, and AAA membership discount.
When getting free Memphis car insurance quotes, it’s a good idea to all companies you are considering what discounts are available to you. Some of the earlier mentioned discounts might not be offered on policies in your area.
When to get advice from an insurance agency
Many people still prefer to buy from a licensed agent and that is a personal choice. Licensed agents can answer important questions and give you someone to call. The biggest benefit of comparing rate quotes online is that you can find the lowest rates and still buy from a local agent. Supporting local agents is important especially in Memphis.
For easy comparison, once you complete this quick form, your information is sent to local insurance agents who will gladly provide quotes to get your business. It’s much easier because you don’t need to contact any agents since rate quotes are delivered to your email. If for some reason you want to compare prices from a particular provider, feel free to search and find their rate quote page and fill out their quote form.
If you need to find a good Memphis insurance agent, it helps to know the two types of agencies and how they can write your policy. Memphis agents can either be independent (non-exclusive) or exclusive. Both types of agents can sell car insurance policies, but it’s important to point out why they differ since it may influence the selection process.
Independent Car Insurance Agencies
Independent agencies often have many company appointments and that is an advantage because they can write policies with many different companies and get you the best rates possible. If you want to switch companies, an independent agent can move your coverage and you stay with the same agent. When searching for an agent, we highly recommend that you include price quotes from at a minimum one independent agency to get the most accurate price comparison. Many write coverage with mutual insurance companies which can save you money.
Listed below is a short list of independent insurance agents in Memphis who may be able to give you competitive price quotes.
- Nationwide Insurance: Daysha J Palacio-Miller
1850 Poplar Crest Cove Ste 102 – Memphis, TN 38119 – (901) 762-8585 – View Map
- Keltner Insurance Inc.
3232 S Perkins Rd – Memphis, TN 38118 – (901) 797-8665 – View Map
- Peterson Insurance Services, Inc.
8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777 – View Map
Exclusive agents can only provide pricing for a single company and some examples include Allstate, State Farm and Farm Bureau. Exclusive agents are unable to provide prices from multiple companies so they have to upsell other benefits. Exclusive agents receive a lot of sales training on their products and sales techniques which aids in selling service over price. Consumers frequently choose to use an exclusive agent partially due to the prominent brand name instead of buying on price only.
The following are Memphis exclusive insurance agencies that are able to give price quotes.
- Henry Hooper II – State Farm Insurance Agent
348 S Main St – Memphis, TN 38103 – (901) 575-0001 – View Map
- Arther Wells – State Farm Insurance Agent
4205 Hacks Cross Rd #116 – Memphis, TN 38125 – (901) 363-9217 – View Map
- Ulysses Cosby – State Farm Insurance Agent
248 Cooper St – Memphis, TN 38104 – (901) 276-1044 – View Map
Choosing an auto insurance agent requires you to look at more than just the bottom line cost. These are valid questions to ask:
- Is assistance available after office hours?
- When do they do a full risk review?
- Will they take your side in the event of a claim?
- Did they already check your driving record and credit reports?
- Do they get extra compensation for selling add-on coverages?
- Is there any savings for paying the full premium?
- If you raise deductibles, how much can you save?
Best car insurance in Tennessee
Picking a high-quality auto insurance company can be challenging considering how many choices drivers have in Memphis. The company information listed below can help you select which car insurance providers you want to consider when shopping your coverage around.
Top 10 Memphis Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Top 10 Memphis Car Insurance Companies Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- Titan Insurance
What is the best insurance coverage?
When selecting coverage online or from an agent for your vehicles, there is no “perfect” insurance plan. Everyone’s situation is a little different.
For example, these questions might help in determining whether or not you will benefit from professional help.
- Do I need to file an SR-22 for a DUI in Tennessee?
- Are split liability limits better than a combined single limit?
- How does medical payments coverage work?
- Does coverage extend to my business vehicle?
- At what point should I drop full coverage?
- Do I pay less for low miles?
- Am I missing any policy discounts?
- What is GAP insurance?
- Can my teen drive my company car?
If you can’t answer these questions but a few of them apply then you might want to talk to a licensed agent. To find an agent in your area, take a second and complete this form. It is quick, free and may give you better protection.
What is YOUR best insurance company?
When trying to cut insurance costs, it’s a bad idea to reduce coverage to reduce premium. Too many times, someone sacrificed uninsured motorist or liability limits and discovered at claim time that the small savings ended up costing them much more. Your objective should be to get the best coverage possible at an affordable rate while not skimping on critical coverages.
Some insurance providers don’t offer rate quotes online and these small, regional companies prefer to sell through local independent agencies. Low-cost Kia Spectra insurance in Memphis is available from both online companies in addition to local insurance agencies, and you should compare price quotes from both in order to have the best chance of saving money.
You just read a lot of ways to find affordable Kia Spectra insurance in Memphis. The most important thing to understand is the more companies you get auto insurance rates for, the more likely it is that you will get a better rate. Drivers may even discover the biggest savings come from an unexpected company.
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