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Car Insurance
Memphis TN
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No Long Forms
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(888) 291-7830
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Written by: Andrew Brown
Quality Checked by: Samantha Reed
Tennessee is known to be one of the most expensive states for car insurance, especially in cities like Memphis. Tennessee drivers pay an average of $1,205 per year for car insurance, which is about 25 percent higher than the national average.
So, what makes Memphis auto insurance rates so high? A few things — such as a high rate of uninsured drivers and a lack of competition among insurers — contribute to Tennessee having some of the highest car insurance premiums in the country.
The rate of uninsured drivers in Tennessee is approximately 15%, much higher than the national average of 11%. This means that if you are involved in an accident with an uninsured driver, you'll need to foot the bill yourself. As a result, Memphis car insurance companies charge higher premiums to cover the risk of having to pay for an accident with an uninsured motorist.
Competition among insurers is also low in Tennessee, meaning that there are fewer options available for drivers to choose from. This lack of competition means Memphis car insurance companies can often charge more than what's necessary, driving up rates and making it difficult for drivers to find affordable coverage.
Finally, Memphis Tennessee has some of the most lenient requirements for auto insurance coverage, which also drives up costs. While other states require Personal Injury Protection and Uninsured/Underinsured coverage, Tennessee only requires Liability Coverage. This means that Tennessee drivers don't have as much protection if they get into an accident, so Tennessee car insurance companies must charge higher premiums to cover the risk.
| Age of Driver | Insurance Cost |
|---|---|
| Teens | $4,543 |
| 20 Years | $1,799 |
| 30 Years | $1,386 |
| 40 Years | $1,333 |
| 50 Years | $1,234 |
| 60 Years | $1,252 |
| 70 Years | $1,457 |
Tennessee is a great place to live, but it also has its fair share of variable auto insurance rates. Memphis drivers face different car insurance prices depending on their age and driving record. Young Tennessee drivers typically pay higher premiums than older Tennessee drivers due to their inexperience behind the wheel and riskier driving habits. On average, Tennessee's minimum auto insurance requirements for young people are about $1,500 more than the same coverage for senior citizens. However, in certain cases discounts and other factors can help reduce the cost for younger Tennessee drivers. Additionally, seniors may be able to take advantage of additional discounts based on their driving history or vehicle safety features. Ultimately, everyone needs to shop around and compare quotes from multiple insurers in order to get the best auto insurance rate in Tennessee.
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| Tennessee Farmers | State Farm | Geico | Erie | Nationwide |
| NAIC Market Share | 0.20% | 16.14% | 13.45% | 1.34% | 2.47% |
| S&P Global Ratings | BBB+ | AA | AA+ | AA | A |
| Average Full Coverage Yearly Premium | $1,772 | $1,364 | $1,571 | $1,667 | $1,842 |
| Discount Rating | 4 stars | 5 stars | 5 stars | 5 stars | 4 stars |
|
| Tennessee Farmers | State Farm | Geico | Erie | Nationwide |
| NAIC Market Share | 0.20% | 16.14% | 13.45% | 1.34% | 2.47% |
| S&P Global Ratings | BBB+ | AA | AA+ | AA | A |
| Average Full Coverage Yearly Premium | $1,772 | $1,364 | $1,571 | $1,667 | $1,842 |
| Discount Rating | 4 stars | 5 stars | 5 stars | 5 stars | 4 stars |
|
| Tennessee Farmers | State Farm | Geico | Erie | Nationwide |
| NAIC Market Share | 0.20% | 16.14% | 13.45% | 1.34% | 2.47% |
| S&P Global Ratings | BBB+ | AA | AA+ | AA | A |
| Average Full Coverage Yearly Premium | $1,772 | $1,364 | $1,571 | $1,667 | $1,842 |
| Discount Rating | 4 stars | 5 stars | 5 stars | 5 stars | 4 stars |
4050 N Watkins St, Memphis, TN 38127
(901) 390-9032
http://cheapcarinsurancememphistn.com/
4608 Quince Rd, Memphis, TN 38117
(901) 685-3008
https://www.kellettinsuranceagency.com/
3880 Elvis Presley Blvd, Memphis, TN 38116
(901) 346-5551
https://billblakeins.com/
4466 Elvis Presley Blvd Suite 120, Memphis, TN 38116
(901) 396-8989
https://local.directauto.com/tennessee/memphis/4466-elvis-presley-boulevard
3981 Frayser-Raleigh Rd, Memphis, TN 38128
(901) 372-5551
https://billblakeins.com/
1517 Union Ave, Memphis, TN 38104
(901) 276-3233
https://local.directauto.com/tennessee/memphis/1517-union-avenue
If you're looking for the best car insurance in Memphis, it's important to compare rates and coverage options across different companies. Factors such as age, driving record, vehicle type, and even credit score can affect your premiums. Tennessee auto insurance laws require drivers to carry a minimum of liability coverage, but many people opt for additional levels of protection. To help you make an informed decision about your Tennessee car insurance, we've compared some of the top carriers that serve this area. From affordable pricing to comprehensive coverage options, these providers have something for everyone. So take some time to explore each one and find the best Tennessee car insurance policy for your needs!
Tennessee Farm Bureau Insurance remains one of the most popular choices among Memphis drivers. This provider offers competitive rates and a variety of coverage options, including liability, collision, uninsured/underinsured motorist protection, medical payments, and rental car reimbursement. Tennessee Farm Bureau even has an optional roadside assistance package that covers towing, fuel delivery, and more.
The Tennessee-based American National Insurance Company is another popular option for Memphis drivers. In addition to competitive rates and comprehensive coverage options like bodily injury liability and personal property protection, they also offer specialty benefits such as pet injury coverage on certain policies. American National customers can also take advantage of their accident forgiveness program if they've been accident-free for five years or more.
Finally, Memphis drivers should consider GEICO when shopping for car insurance. This provider offers competitive rates, reliable customer service, and a variety of coverage options. In addition to their standard liability protection, they also provide optional coverage such as rental car reimbursement and gap insurance. Plus, GEICO has an online portal that makes it easy to manage your policy and file claims.
When you're selecting Memphis car insurance, make sure to compare the coverage options and costs of each provider before making a decision. With the right research and planning, you can find the perfect Tennessee auto insurance policy for your needs!
| Driving Infraction Type | Average Annual Premium | Potential Quote Savings |
| DUI | $3864 | $1003 |
| Reckless Driving | $3162 | $990 |
| Wrong Way/Wrong Lane | $3011 | $942 |
| Driving on Sus. License | $2951 | $931 |
| Illegal Turn | $2950 | $907 |
| Failure to Obey Traffic Sign | $2930 | $873 |
| Speeding over 15 | $2663 | $856 |
| Defective Equipment | $2566 | $804 |
| Speeding under 15 | $2484 | $796 |
When Memphis residents are issued a driving infraction, such as speeding or reckless driving, their insurance premiums will likely increase. Insurance companies in Tennessee look at an individual’s driving record to determine how much they charge for a policy and any history of violations can lead to higher premiums. With Tennessee having some of the most expensive car insurance rates in the United States, it is important that drivers understand how a violation on their record could affect their insurance costs.
In Memphis, all traffic violations are reported to the Department of Safety & Homeland Security and remain on an individual’s driving record for three years. If an individual accumulates multiple tickets within that time frame, their insurance company may begin to view them as a high-risk driver and increase their premiums. Tennessee drivers should be aware of how a traffic violation can impact the cost of their insurance and take extra care to drive safely.
To avoid increased insurance costs, Memphis drivers should make sure to follow all state laws, stay aware of their speed limits and practice defensive driving techniques. Tennessee also offers a defensive driving course that drivers can enroll in to reduce the number of points on their record, which may lead to lower premiums. Additionally, Tennessee drivers should shop around for car insurance to find policies that fit their budget and provide adequate coverage. By taking these steps, Tennessee residents can keep their driving records clean and save some money on their auto insurance policy.
| Credit Rating | Average Rate |
| Average of All Credit Ratings | $1347 |
| Below Fair | $2159 |
| Poor | $2381 |
| Worst | $2670 |
When it comes to getting the best auto insurance quotes in Memphis, your credit score plays an important role. It’s not uncommon for Tennessee insurers to use credit-based insurance scoring to help determine how much you should be charged for coverage. A good credit score can get you cheaper rates while a poor one could lead to higher premiums or even denial of coverage.
Memphis insurers look at factors such as payment history, open accounts, and current debt levels when determining your premium rate. While Tennessee law prohibits insurers from denying coverage due to past bankruptcies, they are allowed to consider other elements of your financial history when calculating premiums.
It’s important to note that not all Memphis insurers use the same credit-based insurance scoring system. While some may not consider any aspect of your financial history, other companies may rely heavily on it. It pays to shop around and compare Tennessee insurance rates offered by various insurers to find the best deal for you.
If you have a poor credit score, there are still ways to get cheaper Memphis auto insurance quotes. Many Tennessee insurers offer discounts for good driving records, being a safe driver, or having a car with anti-theft devices installed. You can also look into Tennessee’s Low Cost Auto Insurance Program, which can help low-income drivers who are unable to afford standard car insurance premiums.
When shopping for a new car in Memphis, don't forget to consider the total monthly cost of ownership. Tennessee has some of the most affordable automobile prices in the country, so it's important to factor in Tennessee taxes and registration fees when calculating your budget. Depending on where you live, Tennessee also offers incentives for buying electric vehicles and hybrids. Be sure to research all available options before making your final decision!
Also take into account fuel costs, insurance rates, maintenance charges, and other expenses that can affect your total monthly cost of owning a car. Memphis is home to many different auto insurers who offer competitive prices and coverage plans tailored to fit any budget. Shopping around will help you find the best deal on an insurance policy. Additionally, Tennessee has some of the most reliable and efficient automobiles on the road today, meaning you can count on fewer repairs and maintenance costs over time.
Compare vehicle costs and car insurance rates across various cities within your state, such as the following 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 in order to gain a more comprehensive understanding of the average costs and potential savings. By doing so, you can identify any discrepancies between total costs and better evaluate your current vehicle purchase and insurance plan. This can also provide insight into factors that may affect total costs, such as local crime rates, population density, and frequency of natural disasters.
Choosing between full coverage and liability only car insurance in Memphis can be a difficult decision. Full coverage insurance provides Tennessee drivers with the highest level of protection, including collision and comprehensive coverage, uninsured motorist bodily injury and property damage, as well as personal injury protection and medical payments. Full coverage also usually includes rental car reimbursement, towing, and roadside assistance. On the other hand, liability only policies are much cheaper and provide Tennessee drivers with basic financial protection against third-party claims in case of an accident or incident. Liability only plans cover damages for any property damage or injuries caused by the policyholder to another person or their property.
Tennessee requires minimum liability car insurance coverage of 25/50/15. This means you must have at least $25,000 in bodily injury coverage per person, $50,000 in bodily injury coverage per accident and $15,000 in property damage liability coverage. Tennessee also requires that all drivers carry proof of insurance when operating a vehicle on state roads. It is illegal to operate a motor vehicle without adequate auto insurance and penalties for doing so can be severe. Memphis residents are encouraged to always shop around for the best rates for their auto insurance and compare policies between providers before making any decisions. Being properly insured will ensure Tennessee drivers are compliant with state law as well as protect themselves financially if they ever find themselves involved in an automobile accident.
Memphis residents may be eligible for car insurance discounts. Tennessee drivers can save money on their auto insurance by taking advantage of a variety of discounts available from their auto insurance provider. Many insurers offer lower rates to Tennessee drivers who maintain a good driving record, carry multiple policies with the same company, and have safety features installed in their vehicles. Additionally, Tennessee has special programs such as low-mileage or defensive driver discounts that can help reduce your car insurance costs. Ask your insurer about what types of discounts they offer and how you can qualify for them so that you are getting the best rate possible on your Tennessee car insurance policy.
When it comes to Memphis TN auto insurance coverage requirements, they are quite similar to those in other states. Tennessee requires all drivers to carry liability coverage and uninsured motorist protection. Liability insurance covers property damage and bodily injury that may be caused by an accident you cause, while uninsured motorist protection pays for medical expenses if the other party does not have valid insurance coverage.
Memphis teenagers who are just starting out with driving can find it difficult to get adequate auto insurance coverage in Tennessee due to the high risk associated with young drivers. Some insurers offer discounts for teens who complete a driver’s education course, which helps reduce their premium amount. Teens may also want to consider raising their deductibles as this can often help lower their premiums.
In Memphis Tennessee, it is illegal to let someone drive your car who does not have valid auto insurance coverage. If you are lending your vehicle to a friend or family member and they do not have their own Tennessee auto insurance policy, you should list them as an additional driver on your policy so that they are covered in case of an accident.
Memphis seniors have many options when it comes to finding the car insurance that is best for them. Tennessee has some of the lowest car insurance rates in the US, making it a great place for seniors to save money on their coverage. Seniors may be eligible for discounts based on age or other factors, and can find ways to tailor their policies to meet their needs. Tennessee also offers convenient online sites where seniors can compare insurance quotes and make sure they are getting the best deal. No matter what type of car insurances seniors need in Tennessee, there will be plenty of providers that can offer competitive rates and quality coverage.
If you've been convicted of certain driving offenses in Memphis, the state may require you to have an SR-22 filing. The Tennessee Department of Safety issues an SR-22 certificate as proof that you carry a minimum amount of liability insurance coverage. Tennessee SR-22 requirements vary depending on the offense and your driving history. Common Tennessee violations that may require an SR-22 include:
If you are required to have Memphis Tennessee SR-22 insurance, your insurer will file the certificate on your behalf. Tennessee law requires that you keep an active Tennessee SR-22 filing for at least three years. During this period, if you cancel or fail to renew your policy, the insurer must notify the Tennessee Department of Safety. This could lead to a suspension of your license until proof of coverage is provided and/or fines being issued. To avoid these penalties, it’s important to make sure that you consistently maintain Tennessee SR-22 insurance throughout the term of the filing requirement.
You can receive help finding affordable Memphis TN SR-22 insurance by contacting a licensed agent in your area who specializes in this type of coverage. An independent insurance agent can offer you multiple quotes and help you find the best policy to fit your needs. Get started today to ensure that you are meeting Tennessee SR-22 requirements.
Memphis is a great place to buy insurance with the help of local agents and brokers. You can get personal service and advice from an experienced, knowledgeable professional who understands the Tennessee market and will work hard to find the best coverage for your specific needs. Your agent or broker can compare quotes from several different companies to ensure you are getting the most competitive rates available. They can also provide helpful guidance on which policies offer the best protection and value for your budget. In addition, working with a local agent or broker in Tennessee gives you access to a more personalized customer service experience than you would receive from an online company. When it comes time to file a claim or ask questions about your policy, you’ll know exactly who to contact for help – someone you can trust. Memphis residents can save time and money by working with a local agent or broker who knows the Tennessee insurance market inside and out. So, if you’re looking for an experienced, knowledgeable professional to help find the policy that best fits your needs, consider contacting a Tennessee-based agent or broker today.
Tennessee provides a variety of assistance programs to its residents that make purchasing auto insurance more affordable. The Tennessee Department of Commerce and Insurance offers the Tennessee Automobile Insurance Plan (TAIP) program, which helps drivers who are unable to secure coverage in the voluntary market. This program allows drivers who have been rejected or canceled by at least two insurers to obtain automobile liability insurance coverage through TAIP-participating insurers. Additionally, Memphis residents may qualify for discounts on their auto insurance premiums if they complete an approved defensive driving course or have taken driver education classes.
It's never been easier to shop around for affordable car insurance. You can use online tools to instantly get quotes from car insurance companies in Memphis, Tennessee. You can also compare rates to other cities in your state such as these: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10.
Make sure to get the right amount of coverage you need. Do you only need Liability insurace, which provides minimum coverage? Some people require Full Coverage, especially when the car is financed.
Once you've done the research, comparison shopped the rates you found, and figured out your discounts, you're now ready to buy the best and cheapest car insurance in Memphis, TN. If you're looking for coverage after a DUI conviction then take a look at Tennessee SR-22.
Bundling auto and homeowners insurance in Memphis promises potential savings and convenience by combining both coverages under a single policy. The advantages of bundling include potential cost reductions and streamlined management. Memphis insurance companies often offer discounts to policyholders who bundle their auto and homeowners insurance, resulting in noticeable savings. This consolidated approach simplifies paperwork, provides a single point of contact for inquiries and claims, and streamlines payments. However, it's crucial to evaluate the coverage and terms of the bundled policy to ensure they align with your specific needs. Bundling may limit your flexibility to choose different providers and access specialized coverage options.
While bundling auto and homeowners insurance offers cost savings and convenience, it's important to consider individual circumstances and insurance requirements. Factors such as location, asset value, driving record, and home characteristics can influence the cost and coverage of the policies. For example, check out the different rates of each of these locations numbered 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10. Assessing potential benefits against specific needs will determine whether bundling is truly worth the savings. Comparing quotes, reviewing policy details, and considering alternatives are essential steps to ensure you have the right coverage in Memphis at the best price. Ultimately, making an informed decision will lead to a suitable insurance solution.
The materials on this website have been created for informational purposes only and are not intended as legal advice. The law changes frequently and the information may not be complete or correct depending on a number of factors.
Meet our car insurance expert, Andrew Brown. With over 20 years of experience in the insurance industry, Andrew has become an authority in the world of car insurance. Throughout his career, he has helped countless individuals and families find the right coverage for their unique needs and budget. With his in-depth knowledge of the industry, Andrew is dedicated to providing helpful tips, advice, and insights to empower drivers to make informed decisions about their car insurance.
