How to Save on Memphis Jeep Liberty Insurance

Truthfully, the best way to get affordable Jeep Liberty insurance is to regularly compare quotes from providers that sell auto insurance in Memphis.

• Step 1: Try to understand individual coverages and the things you can change to keep rates down. Many factors that drive up the price like speeding tickets, accidents and a poor credit score can be eliminated by making minor driving habit or lifestyle changes. This article provides additional ideas to get cheaper coverage and find possible discounts that are available.
• Step 2: Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO and State Farm, while independent agencies can quote prices for many different companies.
• Step 3: Compare the new rate quotes to the premium of your current policy to see if you can save by switching companies. If you find a lower rate and change companies, ensure coverage does not lapse between policies.
• Step 4: Tell your current company of your decision to cancel your current car insurance policy. Submit a completed policy application and payment to your new agent or company. Make sure you put the new certificate verifying coverage along with the vehicle’s registration papers.

A crucial key to this process is to use the same level of coverage on each quote and to quote with as many companies as you can. This guarantees a level playing field and the best price selection.

It’s amazing but the majority of drivers kept their coverage with the same car insurance company for at least four years, and 38% of customers have never even compared rates from other companies. Memphis insurance shoppers could save an average of up to 35% each year just by getting comparison quotes, but most undervalue the large savings they would see if they just switched companies.

Take advantage of these discounts

Some providers don’t necessarily list every discount available very clearly, so the list below gives a summary of both well-publicized in addition to some of the lesser obvious car insurance savings. If you are not receiving all the discounts available, you could be saving more on your car insurance.

• Discounts for New Vehicles – Insuring a new Liberty may earn a small discount because newer vehicles are generally safer.
• Discount for Passive Restraints – Cars that have air bags or automatic seat belts can qualify for discounts of up to 25% or more.
• Seat Belt Discounts – Using a seat belt and requiring all passengers to buckle up before driving can save 10% or more on medical payment and PIP coverage.
• Sign Early and Save – Select companies give a discount for buying a policy before your current coverage expires. This can save 10% or more.
• Full Payment Discount – If you pay your bill all at once rather than paying in monthly installments you can avoid monthly service charges.
• Own a Home and Save – Owning a home in Memphis can help you save on car insurance since home ownership demonstrates responsibility.
• Online Discount – A handful of companies give back up to $50 simply for signing on their website.
• Telematics Discount – Drivers who elect to allow their insurance company to scrutinize driving manner by using a telematic data system such as State Farm’s In-Drive might get better premium rates if their driving habits are good.
• Discount for Life Insurance – Companies who offer life insurance give a small discount if you purchase some life insurance in addition to your auto policy.

One thing to note about discounts is that most credits do not apply to the entire policy premium. The majority will only reduce individual premiums such as liability, collision or medical payments. So even though you would think adding up those discounts means a free policy, it just doesn’t work that way.

The chart below compares Jeep Liberty premium costs with and without discounts. The premiums assume a female driver, no claims or driving violations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, multi-car, marriage, claim-free, and homeowner discounts applied.

Large car insurance companies and their possible discounts include:

• Progressive discounts include multi-policy, continuous coverage, good student, online quote discount, online signing, multi-vehicle, and homeowner.
• Farmers Insurance offers discounts for early shopping, mature driver, switch companies, teen driver, and good student.
• Farm Bureau has savings for multi-policy, driver training, youthful driver, 55 and retired, and safe driver.
• State Farm may offer discounts for passive restraint, driver’s education, Drive Safe & Save, Steer Clear safe driver discount, accident-free, and student away at school.
• GEICO policyholders can earn discounts including five-year accident-free, air bags, federal employee, multi-vehicle, driver training, and anti-lock brakes.
• SAFECO offers discounts including homeowner, anti-lock brakes, multi-car, anti-theft, teen safety rewards, and teen safe driver.
• Liberty Mutual may include discounts for multi-policy, teen driver discount, new graduate, safety features, and exclusive group savings.

When quoting, ask all companies you are considering which discounts they offer. A few discounts may not be offered everywhere. To find insurance companies who offer free Jeep Liberty insurance quotes in Memphis, click here to view.

How to compare Memphis Jeep Liberty insurance quotes

All the larger auto insurance companies such as 21st Century, Allstate and State Farm allow you to get insurance quotes from their websites. Obtaining pricing for Jeep Liberty insurance in Memphis is easy for anyone as all you need to do is type in the coverage amounts you desire into the form. When complete, their rating system sends out for reports for credit and driving violations and generates a price based on the data you entered.

Quoting online for Jeep Liberty insurance in Memphis streamlines rate comparisons, and it is imperative to compare as many rates as possible in order to find cheaper prices.

To save time and find out if lower rates are available, compare rates from the companies below. To compare your current rates, we recommend you copy the limits and deductibles exactly as shown on your declarations page. This guarantees you’re receiving a fair comparison based on identical coverages.

The auto insurance companies shown below are ready to provide price quotes in Memphis, TN. To get cheaper car insurance in Memphis, we recommend you visit two to three different companies to find the most affordable auto insurance rates.

Jeep Liberty insurance charts and tables

The data table displayed next highlights a range of insurance premium costs for Jeep Liberty models. Learning how policy premiums are figured is important for drivers to make informed coverage decisions.

Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Price information does not factor in Memphis location which can affect prices significantly.

Physical damage deductibles: Should you raise them?

When shopping for insurance, a common question is the level to set your comp and collision deductibles. The following insurance rates show the cost difference between low and high physical damage coverage deductibles. The first rate quote example uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Estimates do not factor in specific zip code location which can affect premiums noticeably.

Based on the data above, we can derive that using a $250 deductible costs roughly $11 more each month or $132 a year averaged for all Liberty models than choosing the higher $500 deductible. Because you would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you go more than 23 months between claim filings, you would save more money if you choose the higher deductible.

The diagram below illustrates how your deductible choice and can influence Jeep Liberty insurance costs for different age categories. The information is based on a single male driver, comp and collision included, and no policy discounts are applied.

Does it make sense to buy full coverage?

The information below shows the difference between Jeep Liberty auto insurance costs with full coverage and liability only. The premium estimates are based on no claims or violations, $1,000 deductibles, single status, and no discounts are applied to the premium.

Should you pay for full coverage?

There isn’t a written rule to delete comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s pretend your Jeep Liberty replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after the deductible is paid. If premium cost is more than $800 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some scenarios where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.

Six Tips to Get Cheaper Memphis Insurance Rates

Multiple criteria are part of the calculation when pricing auto insurance. A few of the factors are predictable like your driving record, but other factors are not as apparent like where you live or how financially stable you are. When buying auto insurance it’s important to understand some of the elements that aid in calculating auto insurance rates. If you have some idea of what determines base rates, this enables you to make decisions that may reward you with big savings.

• Your location is a factor – Living in smaller towns and rural areas of the country is a positive aspect when trying to find low car insurance rates. Drivers in populated areas tend to have much more traffic and longer commute times. Less people living in that area means reduced accidents.

• Avoid traffic tickets – Drivers with clean records receive lower rates than people who have multiple driving citations. Having just one citation may cause rates to rise substantially. Drivers who get license-revoking tickets like DWI, reckless driving or hit and run convictions are required to prove financial responsibility with their state in order to continue driving.

  The illustration below highlights how speeding tickets and at-fault accidents impact Jeep Liberty yearly insurance costs for different ages of insureds. The rates are based on a married male driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.

• Extra policy coverages can cost a lot – There are a ton of extra add-on coverages that you can get tricked into buying but may not be useful. Coverages like rental car reimbursement, towing coverage, and term life insurance may not be needed and are just wasting money. They may seem good at first, but now you might not need them so get rid of them and save.
• Use but don’t abuse your insurance – Auto insurance companies in Tennessee generally give lower rates to people who file claims infrequently. If you are the type of insured that files lots of claims you can look forward to either a policy non-renewal or much higher rates. Your car insurance is intended for major claims that would cause financial hardship.

• Men pay more for car insurance – Over the last 30 years, statistics show that females tend to be a little less risky than males. However, don’t assume that women are better drivers. They both cause fender benders in similar numbers, but men tend to have higher claims. Not only are claims higher, but men get more serious tickets like reckless driving and DUI. Young males generally have the highest accident percentage and therefore have the most expensive auto insurance rates.

  The illustration below illustrates the difference between Jeep Liberty premium costs for male and female drivers. The premium estimates are based on no claims or driving violations, full coverage, $250 deductibles, single status, and no discounts are taken into consideration.

• Performance influences costs – The make and model of the car or truck you are trying to find cheaper insurance for makes a substantial difference in your auto insurance rates. The cheapest rates will generally be found on lower performance four cylinder passenger cars, but there are many factors that impact the final cost.

  The data below uses these assumptions: single female driver age 50, full coverage with $500 deductibles, and no discounts or violations. It compares Jeep Liberty insurance rates compared to other makes and models that have a range of performances.

Local Memphis car insurance agents and car insurance

Many people still like to sit down with an agent. Licensed agents can help determine the best coverages and help you file claims. One of the best bonuses of price shopping on the web is the fact that you can find lower rates and still choose a local agent.

For easy comparison, once you complete this quick form, your information is instantly submitted to companies in Memphis who will give you quotes for your insurance coverage. You won’t even need to do any legwork because prices are sent to the email address you provide. If you want to compare prices for a specific company, don’t hesitate to find their quoting web page and fill out the quote form the provide.

Finding the right company is decision based upon more than just the bottom line cost. The questions below may impact your decision as well.

• Are all drivers listed on the coverage quote?
• What are their preferred companies if they are an independent agency?
• What insurance company do they write the most business with?
• Are they primarily personal or commercial lines agents in Memphis?
• Do you need full coverage on every vehicle?
• Do they see any coverage gaps in your plan?

Not all auto insurance agents are the same

When looking for a reliable agent, it helps to know the two different types of agencies and how they are slightly different. Agents in Memphis can be classified as either independent (non-exclusive) or exclusive. Either type can write policy coverage, but it’s a good idea to understand the differences because it may have an impact on which type of agent you select.

Exclusive Agents

Agents in the exclusive channel write business for a single company like State Farm or Allstate. Exclusive agencies are unable to shop your coverage around so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are usually quite knowledgeable in insurance sales which helps them sell insurance even at higher premiums. Many people use the same exclusive agent primarily because of the prominence of the brand rather than low rates.

Below is a short list of exclusive insurance agencies in Memphis willing to provide comparison quotes.

• Allstate Insurance: Josh Roman
  579 S Perkins Rd – Memphis, TN 38117 – (901) 683-8600 – View Map
• Rickey Jeans – State Farm Insurance Agent
  4285 Elvis Presley Blvd – Memphis, TN 38116 – (901) 346-0300 – View Map
• Arther Wells – State Farm Insurance Agent
  4205 Hacks Cross Rd #116 – Memphis, TN 38125 – (901) 363-9217 – View Map

View more Memphis agents

Independent Agents

Agents in the independent channel are not required to write business for one company and that is an advantage because they can write policies with many different companies and get you the best rates possible. If you are not satisfied with one company, the business is moved internally which requires no work on your part.

When shopping rates, it’s recommended you get insurance quotes from several independent agencies to get the most accurate price comparison. Most also write with additional companies that you may not be familiar with that can offer cheaper rates than bigger companies.

Shown below is a short list of independent insurance agencies in Memphis who can help you get rate quotes.

• Nationwide Insurance: Tri-State Insurance Agency Inc
  5545 Murray Ave Ste 107 – Memphis, TN 38119 – (901) 767-3379 – View Map
• Peterson Insurance Services, Inc.
  8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777 – View Map
• Keltner Insurance Inc.
  3232 S Perkins Rd – Memphis, TN 38118 – (901) 797-8665 – View Map

View more Memphis agents

Protect your Liberty and other assets

Even though Memphis Liberty insurance rates can get expensive, paying for car insurance is required for several reasons.

• Just about all states have mandatory insurance requirements which means you are required to carry a specific level of liability insurance 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.
• If you have a lien on your Jeep, it’s guaranteed your bank will make it mandatory that you buy insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Jeep for a lot more money and force you to pay for the expensive policy.
• Car insurance protects both your car and your assets. It will also cover medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will cover the repair costs.

The benefits of having insurance definitely exceed the cost, particularly for liability claims. Despite what companies tell you, the average driver is overpaying more than $865 each year so you should quote your policy with other companies at least once a year to be sure current rates are still competitive.

Tennessee auto insurance companies ranked

Picking the best car insurance provider can be a challenge considering how many companies sell coverage in Memphis. The company rank data shown next may help you analyze which coverage providers you want to consider purchasing coverage from.

Top 10 Memphis Car Insurance Companies Ranked by Value

1. Mercury Insurance
2. Travelers
3. American Family
4. AAA Insurance
5. Safeco Insurance
6. Progressive
7. The Hartford
8. Erie Insurance
9. Esurance
10. The General

Top 10 Memphis Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Keep this in mind when shopping around

Lower-priced auto insurance in Memphis can be purchased both online and also from your neighborhood Memphis agents, so you need to shop Memphis auto insurance with both in order to have the best chance of saving money. Some companies may not provide rate quotes online and these regional carriers only sell through local independent agencies.

When searching for cheaper Memphis auto insurance quotes, it’s very important that you do not reduce coverage to reduce premium. In many cases, an accident victim reduced liability coverage limits and discovered at claim time that they should have had better coverage. The ultimate goal is to buy the best coverage you can find at the best cost but still have enough coverage for asset protection.

Insureds leave their current company for a variety of reasons including delays in paying claims, denial of a claim, policy non-renewal and delays in responding to claim requests. Regardless of your reason for switching companies, choosing a new insurance company can be easier than you think.

For more information, feel free to browse the following helpful articles:

• What to do at the Scene of an Accident (Insurance Information Institute)
• How Much is Car Insurance for Veterans in Memphis? (FAQ)
• Who Has Cheap Memphis Auto Insurance Rates for Drivers with Bad Credit? (FAQ)
• Who Has Cheap Memphis Auto Insurance for Homeowners? (FAQ)
• How Much are Memphis Car Insurance Quotes for 16 Year Olds? (FAQ)
• Who Has the Cheapest Memphis Auto Insurance with Multiple Speeding Tickets? (FAQ)
• What Insurance is Cheapest for a Learners Permit in Memphis? (FAQ)
• What is Gap Insurance? (Insurance Information Institute)
• What Does No-Fault Insurance Cover? (Allstate)