Amazingly, a recent NerdWallet.com study showed that over 70% of drivers renewed their policy with the same company for more than four years, and practically 40% of insurance customers have never even compared rates from other companies. Memphis drivers could save an average of $500 each year by just comparing rate quotes, but they don’t believe the amount of savings they would get if they switched.
It takes a little time, but the best way to get discount car insurance rates is to make a habit of regularly comparing prices from insurers that sell auto insurance in Memphis. This can be done by completing these steps.
First, get an understanding of auto insurance and the factors you can control to lower rates. Many things that result in higher prices like speeding tickets, accidents and a negative credit history can be amended by making lifestyle changes or driving safer. This article gives additional tips to get cheaper rates and find discounts that you may qualify for.
Second, compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO and State Farm, while independent agents can quote prices for a wide range of insurance providers. Find a Memphis insurance agent
Third, compare the new rate quotes to the price on your current policy to determine if you can save on K900 insurance in Memphis. If you can save money and buy the policy, make sure coverage is continuous and does not lapse.
Fourth, provide notification to your current company of your intent to cancel your current car insurance policy and submit the signed application along with the required initial payment for the new policy. As soon as you receive it, safely store the proof of insurance paperwork in a readily accessible location in your vehicle.
One important bit of advice is to try to use similar deductibles and liability limits on every price quote and and to compare as many different insurance providers as possible. This guarantees the most accurate price comparison and a complete price analysis.
When comparison shopping, making a lot of price comparisons helps you find the best offered rates. Some regional insurers cannot provide online price quotes, so you should also compare prices on coverage from those companies, too.
The following companies have been selected to offer price comparisons in Memphis, TN. To buy the best cheap auto insurance in Tennessee, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Why you need auto insurance
Despite the high insurance cost for a Kia K900 in Memphis, auto insurance is a good idea for several reasons.
First, most states have minimum liability requirements which means the state requires specific minimum amounts of liability insurance coverage if you drive a vehicle. 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 you bought your vehicle with a loan, it’s guaranteed your bank will make it a condition of the loan that you have full coverage to protect their interest in the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Kia at a much higher rate and require you to fork over for the much more expensive policy.
Third, insurance safeguards not only your Kia K900 but also your assets. Insurance will also pay for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability coverage will also pay attorney fees if anyone sues you for causing an accident. If you have damage to your Kia as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of carrying adequate insurance definitely exceed the cost, especially if you ever need it. But the average driver in Tennessee is overpaying more than $869 every year so you should quote and compare rates once a year at a minimum to help ensure money is not being wasted.
Discounts can help save money on Kia K900 insurance in Memphis
Companies offering auto insurance don’t always publicize the complete list of policy discounts in a way that’s easy to find, so the following list contains some of the best known and also the lesser-known credits that may apply to you.
- One Accident Forgiven – Not really a discount, but companies like Allstate and GEICO allow you one accident before raising your premiums if you are claim-free for a certain period of time.
- Discount for Low Mileage – Driving less may allow you to get slightly better prices than normal.
- Multi-line Discount – Select companies reward you with a discounted price on car insurance if you buy some life insurance in addition to your auto policy.
- Early Switch Discount – A few companies allow discounts for switching companies before your current coverage expires. It could save around 10% when you buy Memphis auto insurance online.
- Multi-car Discount – Buying insurance for several vehicles with the same company can get a discount on all vehicles.
- Discounts for Good Drivers – Safe drivers could pay up to 40% less than less cautious drivers.
Discounts reduce rates, but you should keep in mind that most credits do not apply to the entire cost. Most cut individual premiums such as liability and collision coverage. Even though the math looks like adding up those discounts means a free policy, car insurance companies aren’t that generous.
Popular car insurance companies and their offered discounts are detailed below.
- Farmers Insurance has discounts for multi-car, bundle discounts, business and professional, electronic funds transfer, distant student, mature driver, and teen driver.
- State Farm offers discounts for driver’s education, good driver, anti-theft, defensive driving training, multiple autos, passive restraint, and student away at school.
- Liberty Mutual may include discounts for multi-car, newly married, good student, preferred payment discount, hybrid vehicle, and new move discount.
- MetLife discounts include multi-policy, defensive driver, good student, claim-free, and accident-free.
- Progressive may offer discounts for multi-policy, homeowner, online signing, multi-vehicle, and online quote discount.
Before buying, ask each company or agent how you can save money. Savings might not be offered in Memphis.
Compare prices but buy from a local Memphis insurance agency
A small number of people prefer to sit down with an agent and that is a smart decision A good thing about comparing rates online is the fact that you can find cheap auto insurance rates and also buy local. And supporting local agents is especially important in Memphis.
For easy comparison, once you complete this form (opens in new window), your insurance data gets sent to participating agents in Memphis who will give you quotes for your coverage. There is no need to even leave your home because quoted prices will be sent directly to your email. You can get cheaper auto insurance rates and a licensed agent to work with. In the event you want to quote rates from a specific auto insurance provider, just go to their quote page and give them your coverage information.
If you want to use a good Memphis insurance agent, there are a couple of types of agencies from which to choose. Insurance agencies in Memphis can be categorized as either independent (non-exclusive) or exclusive.
These type of agents do not work for one specific company and that enables them to quote your coverage with many different companies and possibly get better coverage at lower prices. If prices rise, your agent can switch companies and you don’t have to switch agencies. If you are comparing auto insurance prices, we highly recommend that you get some free quotes from a few independent agents in order to compare the most rates. Most also write with small mutual carriers that many times have cheaper rates.
Featured below are independent agents in Memphis that may be able to give rate quotes.
- Lipscomb and Pitts Insurance LLC
2670 Union Ave – Memphis, TN 38112 – (901) 321-1000 – View Map
- Nationwide Insurance: Bennita J Wade Agency
1503 Union Ave Ste 220 – Memphis, TN 38104 – (901) 276-8571 – View Map
- Peterson Insurance Services, Inc.
8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777 – View Map
Exclusive Auto Insurance Agents
Agents in the exclusive channel work for only one company such as Allstate, Farmers Insurance or State Farm. They are unable to place coverage with different providers so always compare other rates. Exclusive agents are usually quite knowledgeable in insurance sales and that enables them to sell even at higher rates. Consumers frequently buy insurance from these agents primarily because of loyalty to the company rather than having the cheapest rates.
The following are Memphis exclusive insurance agents that can give you price quote information.
- Kathy Thurmond-Edwards- State Farm Insurance Agent
680 W Brookhaven Cir – Memphis, TN 38117 – (901) 767-7744 – View Map
- Allstate Insurance: Willie E. Martin
3315 Kirby Pkwy – Memphis, TN 38115 – (901) 365-2008 – View Map
- Allstate Insurance: Kevin Howard
1440 E Shelby Dr Ste 2 – Memphis, TN 38116 – (901) 767-0030 – View Map
Choosing an insurance agent requires you to look at more than just a cheap quote. These are some valid questions you should ask.
- Do they get extra compensation for selling add-on coverages?
- Are they in the agency full-time?
- Do the agents have professional certifications like CPCU or CIC?
- Who are their largest clients?
- How would your car be valued if totaled?
Auto insurance is unique, just like you
When quoting and comparing your policy for your personal vehicles, there really isn’t a single plan that fits everyone. Coverage needs to be tailored to your specific needs.
For instance, these questions might point out whether you will benefit from professional help.
- What companies insure drivers after a DUI or DWI?
- Why am I required to buy high-risk coverage?
- What discounts do I qualify for?
- Does my insurance cover a custom paint job?
- How much liability insurance is required?
- How do I file an SR-22 for a DUI in Tennessee?
If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form.
Best auto insurance company in Tennessee
Insuring your vehicle with the highest-rated company can be difficult considering how many different companies there are to choose from in Tennessee. The information below could help you decide which car insurance companies to look at comparing prices from.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Lower rates by being persistent
As you quote Memphis auto insurance, make sure you don’t sacrifice coverage to reduce premiums. In too many instances, an insured cut collision coverage and discovered at claim time that the small savings ended up costing them much more. The ultimate goal is to buy enough coverage for the lowest cost, but do not sacrifice coverage to save money.
Consumers switch companies for any number of reasons including policy cancellation, lack of trust in their agent, unfair underwriting practices or even denial of a claim. Whatever your reason, choosing a new insurance company is not as difficult as it may seem.
Cheaper Kia K900 insurance in Memphis can be bought both online in addition to many Memphis insurance agents, so you need to quote Memphis auto insurance with both so you have a total pricing picture. Some insurance providers may not offer online quoting and many times these small insurance companies provide coverage only through local independent agencies.
For more information, take a look at the articles below:
- Red Light Cameras (State Farm)
- Who Has Affordable Car Insurance Rates for First-time Drivers in Memphis? (FAQ)
- Who Has Affordable Memphis Auto Insurance Rates for Uninsured Drivers? (FAQ)
- How Much are Memphis Car Insurance Rates for a Honda Civic? (FAQ)
- How Much is Memphis Auto Insurance for a Company Car? (FAQ)
- Collision Insurance Coverage (Nationwide)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Get the Right Protection (InsureUonline.org)