Really, the only way to get discount car insurance rates in Memphis is to start comparing prices regularly from companies who can sell car insurance in Tennessee. This can be done by following these steps.
- Gain an understanding of how auto insurance works and the things you can control to keep rates low. Many things that cause rate increases like accidents, careless driving, and poor credit rating can be rectified by making minor changes to your lifestyle. Later in this article we will cover more ideas to help reduce premium rates and get discounts that may be available to you.
- Compare price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO and Allstate, while agents who are independent can provide price quotes for a wide range of companies. View insurance agents
- Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you find a better price and switch companies, ensure there is no coverage lapse between policies.
- Provide written notification to your current company of your intent to cancel your current coverage and submit a signed application and payment to your new agent or company. As soon as you receive it, keep the new certificate verifying coverage along with the vehicle’s registration papers.
An important bit of advice to remember is that you use identical limits and deductibles on every quote request and and to get rates from as many car insurance companies as possible. This guarantees a fair rate comparison and the best price quote selection.
It goes without saying that insurance companies don’t want you comparing rates. Insureds who rate shop once a year are highly likely to buy a different policy because they have good chances of finding coverage at a cheaper rate. A recent auto insurance study discovered that consumers who faithfully checked for cheaper rates saved about $860 a year compared to drivers who don’t regularly compare prices.
If finding budget-friendly Mercedes-Benz SLS AMG insurance is why you’re here, understanding how to get free comparison quotes and analyze car insurance can make shopping around easier.
The providers in the list below have been selected to offer free rate quotes in Tennessee. To locate the cheapest car insurance in Memphis, TN, it’s a good idea that you get rate quotes from several of them to get the most competitive price.
Discounts mean cheaper rates for Mercedes-Benz SLS AMG insurance in Memphis
Some insurance providers don’t always publicize every available discount very clearly, so we researched both the well known and the harder-to-find discounts that you may qualify for. If you’re not getting every credit you qualify for, you are throwing money away.
- Driver’s Education for Students – Teen drivers should enroll and complete driver’s education in school or through a local driver safety program.
- Online Discount – Some of the larger companies will give you a small discount just for signing your application on their website.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to use a seat belt could save 15% off the medical payments premium.
- Clubs and Organizations – Belonging to certain professional organizations could trigger savings on your next car insurance statement.
- Senior Discount – Drivers that qualify as senior citizens may receive reduced rates.
- Anti-lock Brake System – Cars and trucks with ABS and/or traction control can avoid accidents and will save you 10% or more on SLS AMG insurance in Memphis.
- Distant Student Discount – Kids who are enrolled in a college that is more than 100 miles from Memphis without a vehicle on campus may be able to be covered for less.
Discounts lower rates, but most credits do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like collision or personal injury protection. So even though they make it sound like you would end up receiving a 100% discount, you aren’t that lucky.
To locate providers offering car insurance discounts in Tennessee, click here to view.
Shop online but buy locally
Some people still prefer to visit with an insurance agent and that is OK! Good insurance agents are very good at helping people manage risk and will help you if you have claims. One of the benefits of getting online price quotes is the fact that you can find cheap car insurance quotes and still have an agent to talk to.
To find an agent, once you fill out this simple form, your information gets sent to local insurance agents in Memphis that give free quotes for your car insurance coverage. It’s much easier because you don’t need to search for any insurance agencies due to the fact that quote results will go immediately to you. If for some reason you want to quote rates from one company in particular, you can always visit that company’s website and give them your coverage information.
Deciding on an company needs to be determined by more than just a cheap price quote. These are some valid questions you should ask.
- Is the agency involved in supporting local community causes?
- How experienced are they in personal risk management?
- Do you qualify for any additional discounts?
- Do they have 24-hour customer assistance?
- Is insurance their full-time profession?
- How is replacement cost determined on your vehicle?
Listed below are agents in Memphis that may be willing to give comparison quotes for Mercedes-Benz SLS AMG insurance in Memphis.
After talking to the agent and getting good feedback to any questions you may have and a good coverage price, you’ve probably found an provider that can be relied on to properly insure your vehicles.
How Insurance Companies Calculate Mercedes-Benz SLS AMG Insurance Prices
Many factors are part of the calculation when pricing auto insurance. Most are fairly basic like your driving record, although some other factors are less obvious such as your credit history or how financially stable you are. It’s important that you understand some of the factors that go into determining your premiums. When consumers understand what positively or negatively impacts your premiums, this allows you to make good choices that could result in better car insurance rates.
The following are some of the items utilized by car insurance companies to help set rates.
- Insure your auto and home with one company – Many insurers give better rates to buyers who have multiple policies with them, otherwise known as a multi-policy discount. Discounts can amount to 10 percent or more. Even though this discount sounds good, it’s still a good idea to shop around to guarantee you are still saving the most.
- Driving citations mean higher prices – Your driving record can have a huge impact on auto insurance premiums. Good drivers tend to pay less for car insurance as compared to those with violations. Having a single speeding ticket or other violation can bump up the cost substantially. Drivers unfortunate enough to have flagrant violations like DUI or willful reckless driving might be required by their state to prove financial responsibility with their state DMV in order to legally drive a vehicle.
- Raise your coverage deductibles for better rates – Physical damage protection, termed comprehensive and collision coverage on your policy, is used to repair damage to your vehicle. Some examples of covered claims are a dented fender, vandalism, and burglary. The deductibles you choose are how much you are required to spend if you file a covered claim. The larger the amount you’re willing to pay, the less money you will pay for car insurance.
- Liability safeguards assets – The liability coverage on your policy provides coverage if you are responsible for causing damage or personal injury in an accident. Your policy’s liability insurance provides you with a defense in court to attempt to prove you were not liable. Liability is cheap when compared with rates for comp and collision, so do not skimp.
- Do safer cars cost less to insure? – Cars with five star safety ratings get lower rates. The safest vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries translates into savings for insurance companies and more competitive rates for policyholders. If your Mercedes-Benz scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
Choosing the best Mercedes-Benz SLS AMG insurance in Tennessee is an important decision
Despite the high cost, car insurance is required in Tennessee but it also protects you in many ways.
First, most states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability 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 your SLS AMG has a lienholder, it’s most likely the lender will make it mandatory that you buy insurance to guarantee loan repayment. If coverage lapses or is canceled, the bank will be required to insure your Mercedes-Benz at a much higher rate and force you to pay for the expensive policy.
Third, insurance protects not only your vehicle but also your financial assets. Insurance will pay for most medical and hospital costs for not only you but also any passengers injured in an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of carrying enough insurance outweigh the cost, especially for larger claims. Unknowingly, the average driver overpays as much as $820 a year so it’s recommended you shop around once a year at a minimum to make sure the price is not too high.
Memphis auto insurance companies ranked
Ending up with the right insurance provider can be rather challenging considering how many companies are available to choose from in Memphis. The ranking information shown below can help you analyze which car insurance providers to look at comparing price quotes from.
Top 10 Memphis Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
Persistent drivers can save
We just presented many tips how you can get a better price on Mercedes-Benz SLS AMG insurance in Memphis. The most important thing to understand is the more quotes you get, the better likelihood of getting inexpensive Memphis car insurance quotes. Consumers could even find that the best premium rates are with an unexpected company. They can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.
As you go through the steps to switch your coverage, it’s not a good idea to buy less coverage just to save a little money. In too many instances, someone dropped uninsured motorist or liability limits only to regret that the savings was not a smart move. Your aim should be to purchase plenty of coverage for the lowest price, but don’t skip important coverages to save money.
More detailed insurance information is available by following these links:
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- What Insurance is Cheapest for Inexperienced Drivers in Memphis? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Get the Right Protection (InsureUonline.org)