best car policy Memphis
2022
The Cheapest and Best Car Insurance in Memphis
The Cheapest Car Insurance Companies in Memphis
A broad coverage cable car indemnity policy includes liability, comprehensive and collision coverages. It financially protects the driver from most circumstances with its wide coverage. MoneyGeek ’ s research shows these insurers offer the cheapest entire coverage policies for an average driver in Memphis :
- GEICO: $877 per year
- State Farm: $941 per year
USAA is an low-cost option for military members and their families at an average premium of $ 661 per year. It ’ s the cheapest provider in Memphis, and it ’ s 153.5 % less expensive than Farmers, the city ’ s most expensive insurance company .
Cheapest Car Insurance in Memphis
Full Coverage 100/300/100
- company 100/300/100
per year
- 1 .USAA
$661
- 2 .GEICO
$877
- 3 .State Farm
$941
- 4 .Erie
$951
- 5. Tennessee Farmers
$1,073
- 6 .Progressive
$1,116
- 7 .Travelers
$1,202
- 8 .Allstate
$1,269
- 9 .MetLife
$1,328
- 10 .Nationwide
$1,336
- 11 .Farmers
$1,677
The car policy rates in this sketch are for a 40-year-old male driver in Memphis with a fully coverage policy, following MoneyGeek ’ s methodology. A wide coverage car policy policy includes comprehensive coverage, collision coverage and the submit ’ s minimum compulsory coverages. It provides extensive fiscal protection in case of an accident. however, because of its increase coverage, it ’ south more expensive than a minimum coverage policy .
- Comprehensive Coverage: Covers expenses from damage caused by events other than collision. These losses may be due to weather events like hail, in addition to falling trees, theft and fire.
- Collision Coverage: Covers vehicle repairs if you’re in an accident.
If you have an older vehicle, remember that a full coverage insurance policy can be more expensive than your car ’ s actual substitute respect. If that ’ s the case, liability-only or submit minimum insurance is recommended to obtain the cheapest rates possible .
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Cheapest Car Insurance in Memphis for Minimum Coverage
If you ’ rhenium looking for the cheapest car policy offers in Memphis, a submit minimum policy is an ideal choice. While minimal coverage policies are significantly more low-cost than full coverage, they offer much less protection in the event of an accident because they don ’ t have comprehensive and collision coverages. MoneyGeek ’ s learn found that these companies have the cheapest state minimal policies in Memphis :
- GEICO: $409 per year
- Tennessee Farmers: $415 per year
At $ 357 annually, USAA offers the cheapest state minimum policies in Memphis for eligible military members and their families. It ’ sulfur $ 539 less expensive than the city ’ s priciest state of matter minimum provider, Farmers. You can see how liability coverage affects car indemnity rates in the mesa below .
Cheapest Minimum Liability Car Insurance in Memphis
state of matter Minimum
- ship’s company State Minimum
per year
- 1 .USAA
$357
- 2 .GEICO
$409
- 3. Tennessee Farmers
$415
- 4 .State Farm
$441
- 5 .Erie
$465
- 6 .Progressive
$508
- 7 .Travelers
$596
- 8 .Nationwide
$634
- 9 .Allstate
$666
- 10 .MetLife
$825
- 11 .Farmers
$896
It ’ s a prerequisite in Tennessee that drivers have a minimal coverage policy that covers bodily wound liability, property damage liability, uninsured motorist bodily injury and uninsured motorist property wrong. A minimum coverage policy is the bum available car policy in Memphis, and buying it will lead to savings in your indemnity premiums. however, in case of an accident, you may end up paying much more. In Tennessee, liability indemnity lone covers $ 25,000 for bodily injuries per person. If you ’ re in an accident and the hurt party ’ s checkup expenses reach $ 35,000, just that $ 25,000 will be covered by the insurance company. You ’ ll be responsible for paying the remaining $ 10,000 yourself .
Tennessee Minimum Liability Requirements
- token description
- Bodily Injury and Property Damage $ 25,000 per person, $ 50,000 per accident and $ 15,000 for property price. A more protective tied is 100/300/100 .
Cheapest Car Insurance in Memphis if You Have Driving Violations
If you get a travel rapidly ticket, your car insurance premiums can go up. The same is true if you ’ re charged with a DUI, an at-fault accident or early drive violations. By improving your driving history, your rates may be lowered, but that takes time. That means your best option right now is to compare car insurance offers to find the lowest rates. MoneyGeek ’ s inquiry shows these companies offer the cheap car indemnity policies in Chicago for drivers with a bad drive commemorate :
- Cheapest after a ticket: Erie, $982 per year
- Cheapest after an at-fault accident: Tennessee Farmers, $1,073 per year
- Cheapest after a DUI: State Farm, $1,027 per year
Cheapest Car Insurance in Memphis With a Violation
Speeding tag
- company Speeding Ticket
per year
- 1 .USAA
$784
- 2 .Erie
$982
- 3 .GEICO
$1,008
- 4 .State Farm
$1,027
- 5. Tennessee Farmers
$1,073
- 6 .Allstate
$1,412
- 7 .Progressive
$1,464
- 8 .Nationwide
$1,567
- 9 .Travelers
$1,680
- 10 .MetLife
$1,943
- 11 .Farmers
$2,189
Average Cost of Car Insurance in Memphis
Memphis
$1,177
Tennessee
$1,018
U.S.
$1,424
The average car policy pace in Memphis is $ 1,177 per year. In comparison, the annual average monetary value in Tennessee is $ 1,018, while the average cost nationally is $ 1,424. The average cost of cable car policy in Memphis is 15.6 % more expensive than the typical cost in the rest of the state, but it is still 17.4 % cheaper than the national average. car insurance rates vary depending on many factors, and you can find the best and most personalize car coverage rates by requesting and comparing individualized car insurance quotes.
Personalized Quotes to Get You the Cheapest Car Insurance in Memphis
There are several factors that affect your profile and your personalized indemnity rate. Aside from your coverage level, your ZIP code, driving history, make and model of vehicle and citation history will besides greatly affect your profile. even adolescent drivers will have a different rate compared to other classes of drivers. To have an theme of how your profile will affect your cable car policy rates, it is advisable to get individualized car indemnity quotes in Memphis on a regular basis. By doing sol, you will besides have the opportunity to see if there are discounts, savings or rebates available to you .
Compare Car Insurance Rates in Memphis
see you ‘re getting the best rate for your car indemnity. Compare quotes from the top indemnity companies. widget-location-pin
The Best Car Insurance Companies in Memphis
MoneyGeek ranked the best car policy companies in Memphis to help you find a provider that offers both affordability and timbre customer serve. Our study shows that overall the best car indemnity companies for most Memphis drivers are :
- Erie: MoneyGeek score of 93 out of 100
- Auto-Owners Insurance Co: MoneyGeek score of 90 out of 100
USAA earned the highest score in Memphis following MoneyGeek ’ sulfur military rank system. however, because merely active military members, veterans and their families are eligible to be insured through the company, we did not list it as good overall. To determine scores out of 100, MoneyGeek uses respective factors, which include J.D. Power customer satisfaction, affordability and insurance company fiscal stability ratings .
1
USAA
score :
95
4/5 Affordability 5/5 Claims Ratings 4/5 User Satisfaction A++ fiscal constancy 2
Erie
mark :
92.5
4/5 Affordability 5/5 Claims Ratings
4/5 User Satisfaction A+ fiscal constancy 3
Auto-Owners Insurance Co
sexual conquest :
90
4/5 Affordability 3/5 Claims Ratings 4/5 User Satisfaction A++ fiscal stability 4
GEICO
score :
85
3/5 Affordability 3/5 Claims Ratings 3/5 User Satisfaction A++ fiscal stability 5
State Farm
score :
82.5
3/5 Affordability 3/5 Claims Ratings 4/5 User Satisfaction A fiscal constancy 6
Nationwide
score :
80
2/5 Affordability 3/5 Claims Ratings 3/5 User Satisfaction A+ fiscal stability 7
Travelers
grade :
80
2/5 Affordability 3/5 Claims Ratings 2/5 User Satisfaction A++ fiscal stability 8
MetLife
score :
80
3/5 Affordability 3/5 Claims Ratings 2/5 User Satisfaction A+ fiscal stability 9
Safeco
score :
77.5
3/5 Affordability 2/5 Claims Ratings 3/5 User Satisfaction A fiscal stability 10
Progressive
score :
77.5
3/5 Affordability 2/5 Claims Ratings 2/5 User Satisfaction A+ fiscal constancy 11
Allstate
score :
75
2/5 Affordability 2/5 Claims Ratings 2/5 User Satisfaction A+ fiscal stability 12
Liberty Mutual
score :
75
2/5 Affordability 3/5 Claims Ratings 2/5 User Satisfaction A fiscal constancy 13
National General
score :
72.5
3/5 Affordability 2/5 Claims Ratings 2/5 User Satisfaction A- fiscal constancy
Average Cost of Car Insurance by Postal Code
Your ZIP code is another factor that will make a difference in your car indemnity rates. In some areas where there are higher cases of cable car thefts and accidents, it will cost you more to get car insurance. In Memphis, ZIP codes have slight differences in modal annual premiums, ranging from $ 1,170 to $ 1,186 on average. The most expensive ZIP code for car indemnity is 38127, but rates in this area are alone about $ 16 higher than those in 38116. If you get your car policy in Memphis, you can expect to pay a higher price than in any city in Tennessee. furthermore, the highest policy rates in Tennessee are all located in the Memphis metro sphere .
- Zip Code State Minimum
per year
- 38116
$1,170
- 38109
$1,173
- 38128
$1,179
- 38127
$1,186
Factors That Impact Insurance Costs in Memphis
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fateful accidents besides contribute to car indemnity rates in Memphis. How memphis ranks compared to the 300 most populous cities in the United States can have a significant impact on bounty costs .
Most Accidents With Fatalities
16th
/ 300
Most car Thefts
237th
/ 300
Most uninsured Motorists by State
5th
/ 50
personal Injury Protection Required No
Most annual rain
25th
/ 300
Most showery Days
129th
/ 300
Methodology and Assumptions
MoneyGeek ’ randomness average premium rates for Memphis are based on 100/300/100 comprehensive examination collision coverage with a $ 1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and tug record. Learn more about MoneyGeek ’ s data and methodology here. About the generator
Mark Fitzpatrick is a aged message director with MoneyGeek specializing in policy. Mark has years of experience analyzing the policy market and creating original research and contentedness. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a master of Arts .