Buying cheap auto insurance for a Kia Optima is pretty simple, but it is dependent upon a large number of factors such as driver age, where you live, and if you have a history of accidents. Drivers in Tennessee pay around $911 a year for Optima insurance, but that figure is using a 30-year-old married male driver with full coverage and $100 deductibles.
Most likely you are not 30 and maybe not even a male, maybe you are single instead of married, or maybe your Optima is old enough that it doesn’t require full coverage. Auto insurance is not the same for everyone, so the best way to find cheap insurance rates for your Kia is to put in the effort to do a thorough rate comparison. Quotes are always free and you will receive price comparisons from top-rated companies available.
The specific trim level can impact the yearly cost, so the price you will be charged to insure a Optima LX trim level will be $112 cheaper than the cost to insure the higher-end Optima SX trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Estimates do not factor in specific zip code location which can change rates greatly.
Determining which company offers the most affordable insurance rates for a Kia Optima calls for a tad more effort in order to find a policy that fits your budget. Each insurance company has their own process to determine premium rates, so we need to take a look at the most affordable insurance companies in Memphis.
It’s important to understand that Memphis insurance rates are calculated based on many things that may substantially change the price you have to pay for coverage. Simply having another birthday, becoming a homeowner, or having an accident can trigger price changes that may make certain companies more affordable than the competition.
Find Cheaper Auto Insurance for Your Optima
Utica National quotes some of the lowest car insurance rates in Memphis at around $744 per year. This is $584 less than the average rate paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, USAA, and Tennessee Farmers also rank well as some of the most economical Memphis, TN auto insurance companies.
As the example above demonstrates, if you have coverage with USAA and switched to Utica National, you could see a yearly savings of roughly $175. Drivers with Tennessee Farmers may save as much as $189 a year, and Penn National policyholders might reduce prices by as much as $191 a year.
Remember that these prices are averaged across all drivers and vehicles in Tennessee and do not take into consideration an exact location for a Kia Optima. So the insurer that has the cheapest price for you may not even be in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
Cautious drivers save money
The common sense way to obtain good insurance rates in Memphis for an Optima is to be an attentive driver and avoid accidents and keep your driving record clean. The chart below highlights how traffic violations and fender-benders can influence annual premium costs for each different age category. The rate quotes are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
The data above shows the average cost of auto insurance per year with no accidents or violations is $1,543. Add in one speeding ticket and the average cost surges to $1,743, an increase of $200 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of insurance for a Kia Optima increases to an average of $3,651. That’s an increase of $2,108, or $176 per month, just for not being a responsible driver!
Discount Memphis insurance
Auto insurance companies that offer quotes for a Kia Optima could also offer rate discounts that could lower prices by as much as 40% or more if you are eligible. A list of companies and their offered discounts include:
- GEICO has discounts for defensive driver, good student, five-year accident-free, emergency military deployment, membership and employees, and seat belt use.
- USAA includes discounts for military installation, good student, family discount, multi-policy, new vehicle, driver training, and defensive driver.
- Progressive discounts include homeowner, online quote discount, good student, multi-policy, online signing, multi-vehicle, and continuous coverage.
- American Family policyholders can earn discounts including TimeAway discount, good driver, early bird, good student, air bags, accident-free, and defensive driver.
- Esurance offers discounts for Pac-12 alumni, defensive driver, renters, anti-theft, and homeowner.
- Farmers Insurance has savings for early shopping, pay in full, alternative fuel, bundle discounts, good student, switch companies, and multi-car.
- State Farm may have discounts that include anti-theft, student away at school, Steer Clear safe driver discount, multiple autos, safe vehicle, multiple policy, and accident-free.
The diagram below illustrates the difference between insurance prices with and without policy discounts. The information is based on a male driver, no claims or driving violations, Tennessee state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with marriage, claim-free, multiple policy, defensive driving course, passive restraint, and vehicle safety discounts applied. With discounts applied, theaverage yearly reduction on insurance for a Kia Optima is 28% or $458.
How to find budget-friendly insurance for a Kia Optima
The list below summarizes some of the better thrifty ideas that can help Tennessee drivers quote cheaper car insurance.
- Do not pay for full coverage if not needed
- Maintain a clean driving record
- Having too many claims will increase rates substantially
- Buy a car with high safety ratings
- Save money by bundling your home and auto policies
- Avoid having at-fault accidents
- Compare rates and switch if you can find a better deal
That final tip is remarkably important, as was discussed in the prior article. Car insurance rates in Memphis fluctuate considerably, so don’t be hesitant to switch to a new company if a more affordable rate is found. Having a favorite company is fine, but we do not recommend it if that loyalty results in overpaying money that could be used for better things. Take a few minutes and shop around and find cheaper insurance for a Kia Optima.