It’s hard to fathom, but a large majority of drivers kept buying from the same company for over three years, and about 40% of consumers have never quoted insurance rates at all. With the average insurance premium being $1,400, Tennessee drivers can save nearly 35% each year by just comparing quotes, but they underestimate the amount of savings they would get if they switched to a cheaper policy.
It takes a little time, but the best way to get affordable Mitsubishi Montero Sport insurance in Memphis is to compare quotes annually from providers that insure vehicles in Tennessee. Drivers can shop around by following these steps.
- Step 1: Try to learn about how companies set rates and the factors you can control to prevent high rates. Many things that cause rate increases like inattentive driving and an unacceptable credit rating can be controlled by being financially responsible and driving safely.
- Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while agents who are independent can quote prices from multiple companies.
- Step 3: Compare the quotes to your existing policy and see if you can save money. If you find a lower rate and change companies, make sure there is no lapse in coverage.
- Step 4: Tell your current agent or company of your decision to cancel the current policy and submit payment and a completed application to the new company. Once the application is submitted, put the new certificate of insurance in your glove compartment.
A valuable tip to remember is to try to compare the same liability limits and deductibles on every quote request and and to get quotes from as many companies as possible. Doing this guarantees the most accurate price comparison and a thorough selection of prices.
Compare Memphis Mitsubishi Montero Sport insurance quotes
The companies in the list below provide quotes in Tennessee. If multiple companies are listed, we recommend you visit as many as you can to get a more complete price comparison.
Car insurance does more than just protect your car
Despite the potentially high cost of Mitsubishi Montero Sport insurance, car insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means the state requires specific minimum amounts of liability protection in order to license the 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.
- If you have a lien on your vehicle, almost every bank will require you to have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank or lender will purchase a policy for your Mitsubishi at a much higher premium rate and force you to pay for it.
- Car insurance protects both your Mitsubishi Montero Sport and your assets. It will also provide coverage for medical bills for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you are sued as the result of your driving. If you have damage to your Mitsubishi as the result of the weather or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance outweigh the cost, especially for larger claims. The average driver in Tennessee is wasting up to $865 each year so compare rate quotes at every policy renewal to ensure rates are competitive.
You Can Change Your Insurance Rates
When buying insurance it’s important to understand the different types of things that play a part in calculating the rates you pay for insurance. When consumers understand what controls the rates you pay, this allows you to make good choices that can help you get better insurance rates. Many different elements are used when you quote your car insurance policy. Some of the criteria are obvious like your driving record, but other criteria are not as apparent such as your marital status or your vehicle rating.
Listed below are most of the major factors used by your company to calculate your rates.
Prices go up with performance – The type of car you are insuring makes a substantial difference in how high your rates are. The lowest performance passenger models receive the most favorable rates, but many other things help determine your insurance rates.
Certain employers pay higher rates – Did you know your insurance rates can be affected by your occupation? Careers such as lawyers, airline pilots, and dentists usually pay the highest rates attributed to intense work-related stress and extremely grueling work hours. On the flip side, occupations like actors, historians and homemakers receive lower rates.
Safer the car lower the rate – Safe vehicles tend to be cheaper to insure. Vehicles engineered for safety reduce the chance of injuries and lower rates of occupant injuries means your insurance company pays less and thus lower rates. If your Mitsubishi Montero Sport earned at least four stars on Safercar.gov you may be receiving a better rate.
Fewer miles means better premiums – The more you drive each year the higher your rate. A lot of companies rate vehicles based upon how you use the vehicle. Autos left parked in the garage receive better premium rates than cars that get driven a lot. Verify your declarations sheet properly reflects the proper vehicle usage, because it can save money. Having the wrong rating on your Montero Sport may be wasting your money.
Poor credit can mean higher prices – Having a good credit history will be a significant factor in determining what you pay. So if your credit score is low, you could pay less to insure your Mitsubishi Montero Sport by repairing your credit. Consumers who have excellent credit scores tend to be more responsible and file fewer claims than those with lower credit scores.
City dwellers may pay more – Residing in a rural area is a good thing when talking about insurance. Urban drivers tend to have traffic congestion and longer commute times. Fewer drivers and short commutes means a lower chance of having an accident and lower theft and vandalism rates.
Multiple policies with one company can save – Most major insurance companies will award discounts to buyers who have multiple policies with them in the form of a multi-policy discount. If you currently are using one company, it’s always a smart idea to comparison shop to guarantee you are still saving the most. You may still be able to find better rates even if you insure with multiple companies
Safeguard your assets with liability coverage – The liability section of your policy is the coverage that protects you if ever you are determined to be liable for personal injury or accident damage. Liability insurance provides legal defense coverage which can cost a lot. This coverage is relatively inexpensive when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
Insurance discounts are available to cut your rates
Some insurance providers don’t always list every possible discount very clearly, so here is a list both the well known and the more hidden discounts you could be receiving when you buy Memphis car insurance online.
- Driver’s Education for Students – Require your teen driver to complete a driver education course in school.
- Military Rewards – Being on active duty in the military could trigger a small discount.
- Paperwork-free – A few larger online companies may give you up to $50 just for signing your application digitally online.
- Membership in Organizations – Being a member of a professional or civic organization is a simple method to lower premiums when getting a Memphis car insurance quote.
- Safety Restraint Discount – Requiring all passengers to fasten their seat belts could save 15% off the PIP or medical payment premium.
- Student Discounts – Being a good student can get you a discount of up to 25%. This discount can apply up until you turn 25.
As a disclaimer on discounts, most discounts do not apply to the entire cost. Most only apply to the price of certain insurance coverages like medical payments or collision. So when the math indicates you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
Companies that possibly offer most of these discounts may include but are not limited to:
When getting a coverage quote, ask each company or agent which discounts you qualify for. Savings might not apply in your state. To see insurers who offer free Mitsubishi Montero Sport insurance quotes in Memphis, click this link.
Getting quotes from local Memphis insurance agents
Some people prefer to sit down and talk to an agent and often times that is recommended Professional agents can make sure you are properly covered and give you someone to call. One of the great benefits of getting online price quotes is the fact that drivers can get better rates and still choose a local agent.
To make it easy to find an agent, after completing this short form, your coverage information is sent to local insurance agents in Memphis that can give you free Memphis car insurance quotes for your coverage. It’s much easier because you don’t need to search for any insurance agencies because quoted prices will be sent to the email address you provide. If for some reason you want to get a comparison quote from one company in particular, feel free to find their quoting web page and complete a quote there.
Choosing the best company is decision based upon more than just a cheap quote. These are some questions you should get answers to.
- Will the quote change when the policy is issued?
- Is coverage determined by price?
- How experienced are they in personal risk management?
- Do they have designations such as AIC, CPCU, or CIC?
- Will high miles depreciate repair valuations?
- Does their agency support local causes in Memphis?
When looking for a good insurance agency, it’s helpful to know the different agency structures and how they are slightly different. Agents in Memphis may be either independent or exclusive. Either one can sell affordable car insurance policies, but it’s worth learning how they differ since it may influence the kind of agent you use.
Exclusive Insurance Agencies
Agents that elect to be exclusive can usually just insure with one company and some examples include Allstate and State Farm. They are unable to place coverage with different providers so they have to upsell other benefits. Exclusive agencies are well schooled on their company’s products which helps them compete with independent agents.
Listed below are exclusive insurance agencies in Memphis who can help you get rate quotes.
Dan Crawford – State Farm Insurance Agent
5705 Stage Rd #160 – Memphis, TN 38134 – (901) 372-4400 – View Map
Agents in the independent channel are not required to write business for one company so they can quote policies with many different companies depending on which coverage is best. If premiums increase, the business is moved internally and the insured can keep the same agent.
When comparison shopping, it’s recommended you get several quotes from a couple of independent agencies for maximum quote selection.
Below is a list of independent insurance agents in Memphis that can give you price quotes.
Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159 – View Map
More quotes mean more auto insurance savings
As you shop your coverage around, do not buy poor coverage just to save money. There are a lot of situations where someone sacrificed collision coverage only to find out that they should have had better coverage. Your goal should be to buy a smart amount of coverage at the best price, but do not sacrifice coverage to save money.
Cheap Mitsubishi Montero Sport insurance in Memphis can be sourced from both online companies and with local Memphis insurance agents, and you need to price shop both to get a complete price analysis. Some insurance companies may not offer online price quotes and usually these smaller providers sell through independent agencies.
More detailed auto insurance information can be read in these articles:
- Booster Seat Ratings (iihs.org)
- Who Has Affordable Auto Insurance for Welfare Recipients in Memphis? (FAQ)
- What Auto Insurance is Cheapest for a Chevrolet Equinox in Memphis? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- Teen Driving Statistics (iihs.org)
- Event Data Recorders FAQ (iihs.org)
- Teen Driving and Texting (State Farm)