Everyone knows that car insurance companies want to keep you from shopping around. Insureds who compare rates annually will most likely switch to a new company because of the high probability of finding better rates. Remarkably, a study showed that drivers who make a habit of shopping around saved $70 a month compared to drivers who don’t make a habit of comparing rates.
If finding the most affordable Fiat 500 insurance in Memphis is your ultimate target, learning how to quote and compare auto insurance can make it easier for you to save money.
If you want to find the absolute lowest rates, then the best way to find more affordable Fiat 500 insurance is to regularly compare prices from different companies who can sell car insurance in Memphis. Rate comparisons can be done by following these guidelines.
- Spend some time learning about how companies set rates and the factors you can control to keep rates down. Many risk factors that cause rate increases such as high-risk driving behaviors and a negative credit history can be eliminated by making minor changes in your lifestyle. Keep reading for instructions to lower rates and find overlooked discounts.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like Progressive or State Farm, while independent agents can provide prices from multiple sources.
- Compare the quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find better rates and switch companies, make sure coverage is continuous and does not lapse.
The key thing to remember is that you use similar deductibles and liability limits on each price quote and and to get prices from as many companies as feasibly possible. This enables an apples-to-apples comparison and a thorough price selection.
Quoting and comparing rates for the cheapest insurance coverage in Memphis is not as time-consuming as you think. Just about everyone who is looking for a better price on insurance will probably be able to find better rates. Although Tennessee consumers need to learn how the larger insurance companies calculate your insurance rates because it can help you find the best coverage.
To find low cost Memphis auto insurance quotes, there are several ways to get quotes from many available insurance companies in Tennessee. The quickest method to lower the rate you pay for Fiat 500 insurance is simply to get online rate quotes.
Comparing free rates online is easy and it, replaces the need to go to and from local insurance agencies. Comparing Fiat 500 insurance rate quotes online has reduced the need for local agents unless you require the trained advice that only an agent can give. If you prefer, some companies allow you to comparison shop online but have a local agent actually write the policy.
When comparison shopping, having more price comparisons increases your odds of finding a lower rate.
The companies shown below are ready to provide free quotes in Tennessee. To buy the best cheap auto insurance in Memphis, TN, we recommend you visit as many as you can to get the most affordable price.
Auto insurance is not optional
Despite the high cost of buying insurance for a Fiat 500 in Memphis, paying for auto insurance serves a purpose in several ways.
First, the majority of states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability coverage if you don’t want to risk a ticket. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if your car has a loan, most banks will have a requirement that you buy insurance to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Fiat at a much higher premium rate and require you to pay much more than you were paying before.
Third, auto insurance preserves both your assets and your Fiat. It will also reimburse you for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers legal expenses if someone files suit against you as the result of an accident. If you have damage to your Fiat as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.
The benefits of buying auto insurance are definitely more than the cost, especially for larger claims. The average driver in Tennessee is currently overpaying as much as $869 every year so smart consumers compare quotes at every policy renewal to be sure current rates are still competitive.
Companies offer many types of discounts on Fiat 500 insurance in Memphis
Insurance is not inexpensive, but there could be available discounts that could drop your premiums quite a bit. Some trigger automatically when you complete an application, but once in a while a discount must be specially asked for prior to getting the savings. If you check and find you aren’t receiving every discount available, you could be getting lower rates.
- Early Renewal Discounts – Some companies reward drivers for buying a policy prior to the expiration date on your current 500 insurance policy. This can save 10% or more.
- Responsible Drivers – Safe drivers can pay as much as 50% less as compared to drivers with claims.
- Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to use their safety belts can save a little off PIP or medical payments premium.
- Discount for Good Grades – This discount can get you a discount of up to 25%. The discount lasts well after school through age 25.
- Federal Government Employee – Active or retired federal employment can earn a discount up to 10% with select insurance companies.
You should keep in mind that some of the credits will not apply to the whole policy. Most only cut the price of certain insurance coverages like comprehensive or collision. So even though it sounds like you could get a free insurance policy, that’s just not realistic.
A few of the larger companies and their offered discounts include:
- GEICO policyholders can earn discounts including anti-lock brakes, daytime running lights, driver training, defensive driver, seat belt use, and anti-theft.
- Mercury Insurance offers discounts including age of vehicle, anti-theft, professional/association, annual mileage, multi-policy, and good student.
- Farmers Insurance discounts include business and professional, switch companies, pay in full, distant student, early shopping, and youthful driver.
- Auto-Owners Insurance offers premium reductions for student away at school, teen driver, paperless, multiple vehicles, and paid in full.
- Liberty Mutual has savings for teen driver discount, newly retired, hybrid vehicle, new graduate, new move discount, and new vehicle discount.
- SAFECO may include discounts for teen safe driver, bundle discounts, drive less, anti-theft, and teen safety rewards.
- Progressive includes discounts for online signing, multi-policy, good student, multi-vehicle, homeowner, online quote discount, and continuous coverage.
- USAA offers discounts for military installation, driver training, multi-vehicle, safe driver, family discount, and annual mileage.
Before buying, ask each company which credits you are entitled to. Savings might not be available to policyholders in Memphis. If you would like to choose from a list of companies that offer the discounts shown above in Memphis, click this link.
Local Memphis car insurance agents
Many people just want to have an agent’s advice. One of the benefits of getting free rate quotes online is the fact that you can find lower rates and still choose a local agent. Buying from and supporting local agents is important particularly in Memphis.
To make it easy to find an agent, after completing this simple form, your insurance data is sent to participating agents in Memphis who can give free rate quotes for your insurance coverage. You never need to find an agent on your own because prices are sent to you directly. You can find the lowest rates and a licensed agent to work with. If you need to get a price quote from a specific company, you just need to navigate to their website and give them your coverage information.
Listed below are Memphis insurers that may be willing to give rate quotes for Fiat 500 insurance in Memphis.
Picking the best insurer needs to be determined by more than just a cheap price. Some important questions to ask are:
- Is the coverage adequate for your vehicle?
- What insurance companies do they work with in Memphis?
- If your car is totaled, how to they determine the replacement cost?
- Where are claims handled?
- How long has the business existed?
- What is the financial rating for the quoted company?
- Can you contact them at any time?
- What insurance companies do they recommend if they are an independent agent?
Persistence pays off
When searching for affordable Memphis auto insurance quotes, never sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice collision coverage only to regret that they should have had better coverage. Your strategy should be to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
We covered some good ideas how to save on Fiat 500 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 Fiat 500 rate quotes. You may even discover the biggest savings come from a company that doesn’t do a lot of advertising. These smaller insurers may often insure only within specific states and give better rates compared to the large companies like Progressive and GEICO.
More tips and info about auto insurance is available in the articles below:
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers Over Age 50 in Memphis? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for Safe Drivers? (FAQ)
- Who Has Cheap Memphis Auto Insurance Quotes for a Jeep Grand Cherokee? (FAQ)
- How Much are Auto Insurance Quotes for a Honda Accord in Memphis? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Memphis? (FAQ)
- Older Drivers FAQ (iihs.org)
- Collision Insurance Coverage (Nationwide)
- Teen Driver Licensing Information (iihs.org)
- Auto Theft Statistics (Insurance Information Institute)