How many times have you said it’s time to compare more affordable Toyota Rav4 Hybrid insurance in Memphis? Locating better insurance prices for a new or used Toyota Rav4 Hybrid in Tennessee could be a lot of work, but you can learn these tips to make it easier. There are both good and bad ways to compare car insurance rates so you’re going to learn the best way to get price quotes for a Toyota and locate the cheapest rates either online or from Memphis insurance agents.
Unfortunately, nearly 70% of consumers have stayed with the same insurance company for a minimum of four years, and just short of a majority have never compared rate quotes at all. Memphis consumers can save hundreds of dollars each year by just comparing rate quotes, but they underestimate the amount of savings they would get if they bought a different policy.
Compare Toyota Rav4 Hybrid insurance rates
The companies shown below offer comparison quotes in Memphis, TN. To buy cheaper auto insurance in TN, we suggest you visit two to three different companies to get the most competitive price.
Car insurance is not optional but you don’t have to overpay
Even though it’s not necessarily cheap to insure a Toyota in Memphis, car insurance may be mandatory for several reasons.
- Most states have mandatory liability insurance requirements which means the state requires specific limits of liability protection in order to get the vehicle licensed. 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 your Toyota has a lienholder, more than likely the lender will stipulate that you have physical damage coverage to guarantee payment of the loan. If you default on your policy, the bank may insure your Toyota at a more expensive rate and force you to pay for the much more expensive policy.
- Car insurance protects not only your Toyota but also your financial assets. It will also pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of buying car insurance greatly outweigh the cost, particularly for liability claims. The average driver in Tennessee is overpaying over $810 a year so compare quotes from several companies at least once a year to ensure rates are inline.
Companies offer many discounts on Toyota Rav4 Hybrid insurance in Memphis
Insuring your fleet can be pricey, but you might find some hidden discounts that could help you make your next renewal payment. A few discounts will be applied when you get a quote, but a few must be manually applied prior to receiving the credit.
- Theft Deterrent Discount – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft so companies will give you a small discount.
- Home Ownership Discount – Owning your own home or condo can save a few bucks due to the fact that maintaining a home is proof of financial responsibility.
- E-sign Discounts – A handful of larger companies may give you up to $50 for completing your application on the web.
- Buy New and Save – Adding a new car to your policy may earn a small discount due to better safety requirements for newer models.
- Defensive Driving Course – Passing a course that instructs on driving safety can save you 5% or more and easily pay for the cost of the class.
- Policy Bundle Discount – If you combine your auto and home policies with the same company you will save nearly 15% which can help you find inexpensive Toyota Rav4 Hybrid insurance in Memphis.
- Federal Government Employee – Active or former government employment could qualify for a slight premium decrease but check with your company.
Discounts lower rates, but most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So when the math indicates you can get free auto insurance, you won’t be that lucky.
Companies and some of the premium reductions they offer are detailed below.
- State Farm has savings for student away at school, passive restraint, Steer Clear safe driver discount, good driver, anti-theft, multiple policy, and multiple autos.
- Farmers Insurance discounts include youthful driver, multi-car, mature driver, bundle discounts, and homeowner.
- Progressive includes discounts for multi-vehicle, continuous coverage, multi-policy, homeowner, and online quote discount.
- GEICO offers premium reductions for defensive driver, anti-lock brakes, anti-theft, daytime running lights, multi-vehicle, and emergency military deployment.
- Auto-Owners Insurance may offer discounts for anti-theft, good student, air bags, safe driver, student away at school, and paid in full.
- The Hartford has discounts for good student, driver training, air bag, anti-theft, bundle, and defensive driver.
- Farm Bureau may include discounts for safe driver, renewal discount, multi-vehicle, youthful driver, and 55 and retired.
- USAA policyholders can earn discounts including new vehicle, military installation, family discount, vehicle storage, loyalty savings, safe driver, and driver training.
Before you buy a policy, ask each company which discounts you may be entitled to. Some discounts listed above may not apply in every state. To locate insurers with the best Toyota Rav4 Hybrid insurance discounts in Tennessee, click here.
Can’t I compare rates from local Memphis insurance agencies?
Many people just prefer to visit with an insurance agent and that is OK! Licensed agents can make sure you are properly covered and help in the event of a claim. A good thing about comparing rate quotes online is you may find cheap auto insurance quotes and still have an agent to talk to.
To make it easy to find an agent, after completing this short form, the coverage information is transmitted to local insurance agents who will give you quotes for your auto insurance coverage. You won’t even need to contact an agency as quotes are delivered directly to your email. If you wish to compare rates from a particular provider, feel free to visit that company’s website and give them your coverage information.
Choosing an company needs to be determined by more than just the price. You should also get answers to these questions.
- Will they make sure you get an adequate claim settlement?
- Do they write coverage based solely on cost?
- Are they full-time agents?
- Are they primarily personal or commercial lines agents in Memphis?
- Does the agent recommend any additional coverage?
- Do you work with a CSR or direct with the agent?
- What insurance companies do they recommend if they are an independent agent?
Choose the right auto insurance agent
When searching for local Memphis agents, it’s important to understand the types of insurance agents and how they differ in how they can insure your vehicles. Auto insurance agents are categorized either exclusive or independent. Either can insure your vehicles, but it’s important to point out the difference in how they write coverage because it can influence which type of agent you select.
Exclusive Insurance Agencies
Agents of this type can only write with one company like Allstate, AAA, Farmers Insurance, and State Farm. They are unable to provide other company’s prices so you need to shop around if the rates are high. Exclusive agents are usually well trained on what they offer which helps them sell insurance even at higher premiums. Some consumers prefer to buy from exclusive agents mainly due to high brand loyalty instead of buying on price only.
Listed below is a short list of exclusive agents in Memphis that can give you price quotes.
- Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map
- Kathy Thurmond-Edwards- State Farm Insurance Agent
680 W Brookhaven Cir – Memphis, TN 38117 – (901) 767-7744 – View Map
- Michelle L Wilson – State Farm Insurance Agent
5384 Poplar Ave Ste 439 – Memphis, TN 38119 – (901) 590-1922 – View Map
Independent Agencies or Brokers
These type of agents do not work for one specific company so they can write business with a variety of different insurance companies and potentially find a lower price. If your premiums go up, the business is moved internally and the insured can keep the same agent. When comparing auto insurance prices, you should always get some free quotes from several independent agencies so that you have a good selection of quotes to compare. Most also have access to smaller companies which may have better rates.
Shown below are Memphis independent insurance agencies that can give you price quotes.
- Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map
- Boyle Insurance Agency, Inc.
5900 Poplar Ave – Memphis, TN 38119 – (901) 766-0200 – View Map
- Nationwide Insurance: Daysha J Palacio-Miller
1850 Poplar Crest Cove Ste 102 – Memphis, TN 38119 – (901) 762-8585 – View Map
Coverages available on your policy
Knowing the specifics of car insurance can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and coverage can change by endorsement.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage kick in for bills for surgery, dental work and chiropractic care. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. They cover you and your occupants as well as being hit by a car walking across the street. PIP is not available in all states but can be used in place of medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required (which is 25/50/15), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as theft, a broken windshield, a tree branch falling on your vehicle and fire damage. The maximum payout your car insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
This protects you from damage or injury you incur to a person or their property by causing an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/15 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property.
Liability can pay for claims such as medical services, loss of income, repair costs for stationary objects and court costs. How much liability coverage do you need? That is a personal decision, but you should buy higher limits if possible. Tennessee state minimum liability requirements are 25/50/15 but you should think about purchasing more liability than the minimum.
The chart below shows why buying minimum limits may not be high enough to cover claims.
Auto collision coverage
This covers damage to your Rav4 Hybrid resulting from colliding with another car or object. A deductible applies then your collision coverage will kick in.
Collision can pay for things like colliding with a tree, scraping a guard rail, driving through your garage door, sustaining damage from a pot hole and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible on your Rav4 Hybrid in order to get cheaper collision rates.
Find cheap rates by being thorough
Lower-priced Toyota Rav4 Hybrid insurance in Memphis can be bought on the web in addition to many Memphis insurance agents, and you need to comparison shop both to have the best rate selection. There are still a few companies who may not have internet price quotes and usually these smaller providers provide coverage only through independent insurance agents.
When you buy Memphis auto insurance online, make sure you don’t reduce needed coverages to save money. There are too many instances where an accident victim reduced physical damage coverage only to regret that the savings was not a smart move. Your strategy should be to find the BEST coverage for the lowest price while still protecting your assets.
In this article, we covered many tips how you can find cheap Toyota Rav4 Hybrid insurance in Memphis. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Consumers may even find the lowest priced car insurance comes from an unexpected company.
How to buy cheaper Toyota Rav4 Hybrid insurance in Memphis
If you want to find the absolute lowest rates, then the best way to get the cheapest car insurance rates in Memphis is to annually compare prices from insurers who provide auto insurance in Tennessee. Prices can be compared by following these guidelines.
- First, try to learn a little about car insurance and the modifications you can make to lower rates. Many rating criteria that drive up the price such as at-fault accidents, speeding tickets, and an unacceptable credit history can be rectified by making lifestyle changes or driving safer.
- Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO or Allstate, while agents who are independent can provide price quotes for many different companies.
- Third, compare the new quotes to the premium of your current policy to see if a cheaper rate is available. If you find a better price and buy the policy, make sure coverage is continuous and does not lapse.
One key aspect of rate comparisons is to make sure you’re comparing the same coverage limits and deductibles on every quote request and and to analyze as many auto insurance providers as possible. Doing this guarantees a fair rate comparison and maximum price selection.
Additional information is located at these links:
- Booster Seat Ratings (iihs.org)
- Who Has Affordable Memphis Auto Insurance Quotes for a Jeep Wrangler? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Protect Yourself Against Auto Theft (Insurance Information Institute)