To save the most money, the best way to find low-cost Chevy Camaro insurance is to annually compare prices from companies who sell insurance in Memphis.
- Step 1: Try to learn a little about how companies price auto insurance and the changes you can make to drop your rates. Many things that drive up the price such as at-fault accidents, speeding tickets, and a not-so-good credit history can be eliminated by making small lifestyle or driving habit changes.
- Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from a single company like Progressive or State Farm, while agents who are independent can provide rate quotes from multiple sources. View insurance agents
- Step 3: Compare the new rate quotes to your current policy premium to see if a cheaper price is available. If you find a lower rate quote and switch companies, make sure coverage does not lapse between policies.
- Step 4: Give notification to your agent or company of your intent to cancel your current car insurance policy and submit a completed application and payment for your new coverage. Don’t forget to put the new certificate verifying coverage with your vehicle’s registration.
One key aspect of rate comparisons is that you’ll want to make sure you compare the same level of coverage on each quote request and and to get price quotes from every insurance company. Doing this helps ensure an apples-to-apples comparison and a complete rate analysis.
It goes without saying that car insurance companies want to keep your business as long as possible. Drivers who get comparison quotes once a year are likely to switch companies because the odds are good of finding coverage at a more affordable price. A recent survey revealed that drivers who shopped around annually saved approximately $850 each year compared to policyholders who never shopped around for lower prices.
If finding the lowest rates on insurance is your ultimate goal, then having a grasp of how to quote and compare insurance premiums can make it easier to shop your coverage around.
Finding the cheapest car insurance coverage in Memphis is actually quite easy if you know where to start. If you currently have car insurance, you will definitely be able to get lower rates using the tips covered below. Although Tennessee vehicle owners must learn the methods companies use to price online insurance and apply this information to your search.
Cheap Memphis insurance rates with discounts
Car insurance companies don’t necessarily list every available discount very clearly, so the list below details a few of the more well known and the more hidden discounts that may be available.
- Waiver for an Accident – Not necessarily a discount, but some companies like GEICO and Allstate will turn a blind eye to one accident before hitting you with a surcharge with the catch being you have to be claim-free for a certain period of time.
- Payment Method – If you pay your entire premium ahead of time instead of paying each month you may reduce your total bill.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
- Paper-free Discount – Some of the larger companies give back up to $50 get Memphis auto insurance on your computer.
- Student Driver Training – Have your child successfully take a driver’s education course as it can save substantially.
- Professional Organizations – Being in qualifying employment or professional organizations is a good way to get lower rates on your next insurance statement.
Policy discounts save money, but some credits don’t apply to your bottom line cost. Most only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears you could get a free insurance policy, it doesn’t quite work that way.
The example below illustrates the difference between Chevy Camaro insurance costs with and without discounts applied to the premium. Data assumes a male driver, no violations or claims, Tennessee state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-policy, multi-car, safe-driver, and marriage discounts applied.
Some companies that may offer many of the previously listed discounts include:
If you need inexpensive Memphis auto insurance quotes, ask each insurance company what discounts are available to you. Discounts might not be offered on policies in Memphis. For a list of insurance companies that offer multiple discounts in Memphis, click here to view.
There are several ways to compare quotes from all the different companies. The recommended way to find the lowest rates involves getting comparison quotes online. When comparing car insurance rates, know that comparing a wide range of rates helps increase your odds of locating more affordable rates. Some regional insurers cannot provide rate quotes online, so you should also compare price estimates from the smaller companies as well.
The companies shown below can provide free rate quotes in Tennessee. To get cheap auto insurance in TN, we recommend you compare several of them to get the lowest price.
Data for Chevy Camaro insurance
The table displayed below outlines detailed analysis of insurance premium costs for Chevy Camaro models. Having a better idea how insurance prices are figured can be valuable when making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Table data does not factor in specific zip code location which can revise price quotes substantially.
Full coverage rates vs. liability-only
The example below visualizes the comparison of Chevy Camaro premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on a clean driving record, no claims, $250 deductibles, marital status is single, and no other discounts are factored in.
When to stop buying full coverage
There is no clear-cut formula of when to exclude physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Chevy Camaro replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after paying your policy deductible. If you are currently paying more than $200 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are a few cases where dropping physical damage coverage is not financially feasible. If you haven’t paid off your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Different people need different insurance coverages
When selecting your policy, there isn’t really a best way to insure your cars. You are unique and your policy should reflect that.
These are some specific questions can help discover if you would benefit from an agent’s advice.
- Is borrowed equipment or tools covered if stolen or damaged?
- Should I have a commercial auto policy?
- Does my insurance cover a custom paint job?
- Does coverage extend to a rental car in a foreign country?
- Am I covered when driving in Canada or Mexico?
- Why am I be forced to buy a membership to get insurance from some companies?
If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.
Compare rates but work with a local Memphis insurance agency
Many people just want to have an agent’s advice and there is nothing wrong with that. A nice benefit of getting online price quotes is you can get better rates but also keep your business local.
To make it easy to find an agent, after completing this short form, the coverage information is immediately sent to agents in your area that can give you free Memphis auto insurance quotes to get your business. You don’t have to even leave your home since price quotes are sent to the email address you provide. Get lower rates AND a local agent. If you have a need to quote rates from a specific insurance company, don’t hesitate to navigate to their website and submit a quote form there.
Picking an insurer requires more thought than just a cheap price. These are some questions you should get answers to.
- How much will you save each year by using a higher deductible?
- Does the company allow you to choose your own collision repair facility?
- Do they reduce claim amounts on high mileage vehicles?
- Can you contact them at any time?
- Do the coverages you’re quoting properly cover your vehicle?
- Do they offer rental car reimbursement?
- What company do they have the most business with?
- How many years of experience in personal auto insurance do they have?
If you are searching for a good insurance agency, it’s important to understand the types of insurance agents and how they can service your needs differently. Agencies in Memphis can be categorized as either exclusive or independent.
Exclusive agents can only place business with one company and some examples include Allstate, State Farm and Farmers Insurance. Exclusive agents cannot compare rates from other companies so it’s a take it or leave it situation. These agents are usually quite knowledgeable on their company’s products which helps them sell on service rather than price. Some consumers prefer to use the same agent primarily because of the brand legacy rather than low rates.
Below are Memphis exclusive insurance agents willing to provide price quotes.
- Steve Womack – State Farm Insurance Agent
848 Cooper St – Memphis, TN 38104 – (901) 725-1919 – View Map
- Allstate Insurance: Brandon Goodrich
3725 Riverdale Rd Ste 4 – Memphis, TN 38115 – (901) 794-0080 – View Map
- Farmers Insurance: Candace Hall
1444 E Shelby Dr #329 – Memphis, TN 38116 – (901) 345-2615 – View Map
Independent Insurance Agents
Agents of this type are not limited to a single company so they have the ability to put coverage with lots of companies and get you the best rates possible. To transfer your coverage to a different company, an independent agent can move your coverage and you don’t have to switch agencies. When comparing rates, we highly recommend that you get several quotes from independent agents to maximize your price options. Most independent agents also contract with companies you’ve never heard of which could offer lower prices.
The following is a short list of independent agencies in Memphis willing to provide price quote information.
- Kellett Insurance Agency
4608 Quince Rd – Memphis, TN 38117 – (901) 685-3008 – View Map
- Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map
- Nationwide Insurance: Tri-State Insurance Agency Inc
5545 Murray Ave Ste 107 – Memphis, TN 38119 – (901) 767-3379 – View Map
Persistence pays off
You just read many tips how you can save on Chevy Camaro insurance in Memphis. The key thing to remember is the more rate comparisons you have, the better chance you’ll have of finding the cheapest Chevrolet Camaro rate quotes. You may even find the lowest prices come from a smaller regional carrier. These smaller insurers may have significantly lower rates on certain market segments than the large multi-state companies such as GEICO and State Farm.
When getting Memphis auto insurance quotes online, make sure you don’t buy poor coverage just to save money. There have been many situations where drivers have reduced liability coverage limits only to regret at claim time they didn’t have enough coverage. The ultimate goal is to purchase plenty of coverage for the lowest price, but do not sacrifice coverage to save money.
Additional information can be found at these links:
- Understanding Rental Car Insurance (Insurance Information Institute)
- What Car Insurance is Cheapest for Immigrants in Memphis? (FAQ)
- What Auto Insurance is Cheapest for Drivers Under 25 in Memphis? (FAQ)
- Who Has Affordable Car Insurance for Lyft Drivers in Memphis? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a 20 Year Old Male in Memphis? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Keeping Children Safe in Crashes Video (iihs.org)