A recent insurance study discovered that the vast majority of insurance customers kept buying from the same company for a minimum of four years, and virtually 40% of consumers have never compared insurance rates at all. With the average insurance premium being $1,376, Memphis drivers can save hundreds of dollars each year just by comparing rates, but they assume it’s a waste of time to find lower-cost rates by getting comparison quotes.
To save the most money, the best way to find affordable Nissan Maxima insurance in Memphis is to compare prices annually from different companies who provide car insurance in Tennessee. You can compare rates by following these guidelines.
Step 1: Read about how car insurance works and the measures you can take to drop your rates. Many things that increase rates such as tickets, at-fault accidents, and your credit history can be controlled by being financially responsible and driving safely. Keep reading for more details to prevent expensive rate increases and find available discounts that you may qualify for.
Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like Progressive or Farmers Insurance, while agents who are independent can provide prices from multiple sources.
Step 3: Compare the new rate quotes to the price on your current policy to see if a cheaper rate is available. If you can save money and change companies, make sure coverage is continuous and does not lapse.
Step 4: Tell your current company of your intent to cancel the current policy. Submit a down payment along with a signed application to the new company. Once coverage is bound, put the certificate verifying coverage with your registration paperwork.
The key thing to know about shopping around is to use similar coverage information on each quote and and to get rate quotes from as many companies as you can. This ensures a fair price comparison and maximum price selection.
If you have a policy now or are just looking to switch companies, you will benefit by learning to shop for the lowest rates without sacrificing coverage. Quoting and comparing the lowest-priced protection in Memphis is not as confusing as people think. Drivers just have to learn the quickest method to shop using one simple form.
You Can Change Your Insurance Rates
Many different elements are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious like your driving record, but some are not quite as obvious such as whether you are married or your vehicle rating. An important part of buying insurance is that you know the different types of things that help calculate the price you pay for car insurance. If you have a feel for what determines base rates, this empowers consumers to make smart changes that may reward you with better car insurance rates.
Higher prices for car insurance policy lapses – Driving with no insurance is not a good idea and you will pay a penalty because you let your insurance lapse. In addition to paying higher rates, the inability to provide proof of insurance could earn you a revoked license or a big fine. You may then have to submit proof of financial responsibility or a SR-22 with the Tennessee department of motor vehicles.
Premiums increase with driving tickets – Your driving citation history has a huge affect on how much you pay. Careful drivers pay lower auto insurance prices than their less careful counterparts. Getting just one driving citation can increase the cost of insurance to the point where it’s not affordable. Drivers with multiple tickets like DWI, reckless driving or hit and run convictions are required to prove financial responsibility with their state DMV in order to drive a vehicle legally.
The diagram below illustrates how speeding tickets and fender-benders can influence Nissan Maxima insurance costs for different ages of insureds. The costs are based on a married male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
Where you live plays a part – Living in areas with lower population can be a good thing when insuring your vehicles. Fewer drivers on the road means fewer accidents. Drivers who live in large Tennessee cities regularly have congested traffic and higher rates of accident claims. Spending more time driving translates into higher accident risk.
File insurance claims and pay more – If you are the type of insured that files lots of claims you shouldn’t be surprised to get either policy cancellation or increased premiums. Car insurance companies in Tennessee award the best rates to people who file claims infrequently. Insurance coverage is intended for larger claims.
The following companies provide comparison quotes in Memphis, TN. To locate the best cheap auto insurance in Memphis, we recommend you click on several of them to get the best price comparison.
The information shown below outlines a range of rate quotes for Nissan Maxima models. Having a better idea how car insurance prices are established can help customers make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Maxima 3.5 S||$178||$304||$278||$16||$82||$858||$72|
|Maxima 3.5 SV||$178||$350||$278||$16||$82||$904||$75|
|Get Your Own Custom Quote Go|
Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Estimates do not factor in vehicle garaging location which can change coverage rates greatly.
Difference between liability only and full coverage rates
The information below compares Nissan Maxima auto insurance costs with full coverage compared to only the Tennessee minimum liability coverage. The premiums are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.
Should you pay for full coverage or liability only?
There is no clear-cut formula to eliminate full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s pretend your Nissan Maxima claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after paying your deductible. If you are paying more than $200 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some situations where buying only liability insurance is not a good plan. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Why you need Nissan vehicle insurance in Tennessee
Despite the high cost of buying insurance for a Nissan Maxima in Memphis, maintaining insurance is required in Tennessee but it also protects you in many ways.
- Almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability if you want to drive legally. 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 loan on your Maxima, it’s guaranteed your bank will require you to carry insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Nissan at a more expensive rate and require you to fork over much more than you were paying before.
- Auto insurance protects not only your Nissan but also your financial assets. It will also pay for hospital and medical expenses incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of insuring your Maxima more than offset the price you pay, especially when you need to use it. Today the average American driver is overpaying more than $850 per year so compare rates at every renewal to ensure rates are competitive.
Insurance policy discounts you can’t miss
Companies offering auto insurance don’t list every policy discount very clearly, so the following list contains a few of the more well known and also the lesser-known discounts that may be available.
- Save over 55 – Older drivers are able to get a slight reduction on a Memphis car insurance quote.
- Good Students Pay Less – Getting good grades may save you up to 25%. This discount can apply until age 25.
- Use Seat Belts – Using a seat belt and requiring all passengers to use a seat belt can save a little on the premium charged for medical payments and/or PIP.
- Anti-theft System – Cars equipped with tracking devices and advanced anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Early Switch Discount – Select insurance companies give a discount for buying a new policy prior to the expiration date on your current Maxima insurance policy. Ten percent is about the average savings.
- Military Rewards – Being deployed with a military unit could qualify you for better rates.
- Professional Organizations – Affiliation with a civic or occupational organization in Memphis could qualify you for a break on your next insurance statement.
- Onboard Data Collection – Policyholders that allow their insurance company to monitor their driving habits by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction if their driving habits are good.
- Discount for Multiple Policies – If you insure your home and vehicles with the same company you will save nearly 15% which can help you find inexpensive Nissan Maxima insurance in Memphis.
- Braking Control Discount – Cars, trucks, and SUVs with anti-lock braking systems have fewer accidents and earn discounts up to 10%.
As is typical with insurance, some credits don’t apply to the entire policy premium. Most only cut the price of certain insurance coverages like physical damage coverage or medical payments. So when it seems like adding up those discounts means a free policy, it’s just not the way it works.
The information below visualizes the comparison of Nissan Maxima premium costs with and without discounts applied to the policy rates. The rates are based on a female driver, no claims or violations, Tennessee state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-policy, claim-free, marriage, and multi-car discounts applied.
Companies and some of the discounts can be read below.
- GEICO offers premium reductions for five-year accident-free, multi-policy, driver training, federal employee, and anti-theft.
- Auto-Owners Insurance policyholders can earn discounts including paperless, air bags, safe vehicle, paid in full, teen driver, and company car.
- American Family offers discounts including multi-vehicle, defensive driver, TimeAway discount, early bird, good student, bundled insurance, and air bags.
- Esurance has discounts for multi-car, claim free, Switch & Save, DriveSense, and online quote.
- Progressive may have discounts that include homeowner, multi-vehicle, good student, multi-policy, and continuous coverage.
- State Farm discounts include anti-theft, safe vehicle, multiple policy, Steer Clear safe driver discount, good driver, and good student.
- AAA may offer discounts for multi-car, education and occupation, good student, AAA membership discount, and good driver.
Double check with each company or agent to give you their best rates. All car insurance discounts may not apply in Memphis.
Insurance is available from agents near you
Certain consumers still like to have an agent’s advice and doing so can bring peace of mind Insurance agents can answer important questions and help in the event of a claim. One of the great benefits of getting free rate quotes online is that you can find cheap insurance quotes and still choose a local agent. And buying from local insurance agents is important especially in Memphis.
Once you complete this short form, the coverage information gets sent to agents in your area that provide free Memphis car insurance quotes for your business. There is no need to contact any agents because quoted prices will be sent to you directly. If you wish to compare rates from one company in particular, just search and find their rate quote page and submit a quote form there.
Two types of auto insurance agents
When narrowing the list to find a reliable agent, you need to know there are two different types of agents and how they are slightly different. Agencies in Memphis are categorized either independent agents or exclusive agents. Both can properly insure your vehicles, but we need to point out the difference in the companies they write for because it can influence the type of agent you choose.
Agents that elect to be independent are not required to write business for one company and that enables them to quote your coverage through many companies depending on which coverage is best. If prices rise, your agent can just switch to a different company and the insured can keep the same agent. When comparing insurance prices, you need to compare quotes from at least one independent agent for the best price selection. Most independent agents also contract with smaller regional carriers which may provide better rates.
Below is a list of independent agents in Memphis that can possibly get you pricing information.
- Kellett Insurance Agency
4608 Quince Rd – Memphis, TN 38117 – (901) 685-3008 – View Map
- AutoSave Insurance
2550 Poplar Ave – Memphis, TN 38112 – (901) 458-1630 – View Map
- First Reliable Insurance Agency
5495 Winchester Rd Suite 3 – Memphis, TN 38115 – (901) 362-6052 – View Map
Agents in the exclusive channel can usually just insure with one company such as State Farm, Allstate, and Farm Bureau. These agents are not able to provide rate quotes from other companies so they really need to provide good service. Exclusive agents are usually well trained on their company’s products which helps them compete with independent agents. Consumers sometimes use the same exclusive agent primarily because of loyalty to the company rather than having the cheapest rates.
The following is a short list of exclusive agencies in Memphis willing to provide rate quotes.
- Allstate Insurance: Brandon Goodrich
3725 Riverdale Rd Ste 4 – Memphis, TN 38115 – (901) 794-0080 – View Map
- Bobby Gorman – State Farm Insurance Agent
4947 William Arnold Rd – Memphis, TN 38117 – (901) 767-1361 – View Map
- Sylvia Walker – State Farm Insurance Agent
2900 Kirby Pkwy Ste 2 – Memphis, TN 38119 – (901) 794-8848 – View Map
Picking an insurance agent should include more criteria than just the quoted price. The questions below may impact your decision as well.
- Do they see any coverage gaps in your plan?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Are aftermarket or OEM parts used to repair vehicles?
- Does their agency support local causes in Memphis?
- Will your rates increase after a single accident?
- Does the agency have a positive business rating?
- In the event of vehicle damage, can you pick the collision repair facility?
- Is there a 24/7 contact number?
How to find a good Memphis car insurance company
Picking a high-quality car insurance company can be difficult considering how many companies there are to choose from in Tennessee. The company rank data in the lists below may help you select which providers to look at comparing rates with.
Top 10 Memphis Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Auto insurance can be complex
Always remember that when buying proper insurance coverage for your personal vehicles, there really is no best way to insure your cars. Each situation is unique.
These are some specific questions might help in determining whether you would benefit from professional advice.
- If I drive on a suspended license am I covered?
- Do I need an umbrella policy?
- Do I need higher collision deductibles?
- Why do I have to buy liability insurance?
- Do I have coverage for damage caused while driving under the influence?
- How long can I keep a teen driver on my policy?
- Should I buy more coverage than the required Tennessee minimum liability coverage?
- What is the difference between personal and commercial auto insurance policies?
- Are rock-chip repairs free?
- What states are considered no-fault?
If you can’t answer these questions but you think they might apply to your situation, you might consider talking to an agent. If you don’t have a local agent, take a second and complete this form. It is quick, free and you can get the answers you need.
The best rates come from being thorough
Insureds switch companies for any number of reasons including poor customer service, lack of trust in their agent, delays in paying claims or even questionable increases in premium. Whatever your reason, finding a new company can be easier than you think.
Budget-friendly insurance in Memphis can be sourced on the web and also from your neighborhood Memphis agents, so you need to shop Memphis car insurance with both in order to have the best price selection to choose from. There are still a few companies who may not have internet price quotes and most of the time these smaller providers work with independent agents.
We just presented many tips how you can find cheaper Nissan Maxima insurance in Memphis. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even find the best price on insurance is with a small mutual company.
To read more, take a look at the articles below:
- Collision Insurance Coverage (Nationwide)
- Who Has Cheap Memphis Car Insurance Rates for Nurses? (FAQ)
- Who Has Cheap Memphis Auto Insurance Rates for a Ford Focus? (FAQ)
- Auto Theft Statistics (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)