It’s safe to conclude that car insurance companies don’t want you to look for a cheaper policy. Insureds who shop around for cheaper rates will, in all likelihood, switch companies because there is a high probability of finding a lower-cost company. A recent auto insurance study discovered that people who made a habit of comparing rates saved as much as $72 a month compared to those who didn’t regularly shop around.
If finding the cheapest rates on auto insurance is the reason you’re reading this, understanding how to quote and compare cheaper coverage can make the process more efficient.
If your goal is the lowest price, then the best way to find lower priced auto insurance rates in Memphis is to start comparing prices yearly from companies in Tennessee. Rates can be compared by following these steps.
- First, get an understanding of how car insurance works and the steps you can take to prevent high rates. Many things that cause high rates like high-risk driving behaviors and a less-than-favorable credit rating can be improved by making minor driving habit or lifestyle changes. Later in this article we will cover information to get cheaper rates and find more discounts that you may not know about.
- Second, quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or Allstate, while independent agents can give you price quotes for a wide range of insurance providers.
- Third, compare the quotes to your current policy premium to see if switching to a new carrier will save money. If you can save money and make a switch, make sure there is no coverage gap between policies.
- Fourth, give notification to your current company to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application to your new agent or company. As soon as you can, store the proof of insurance paperwork in an easily accessible location in your vehicle.
One piece of advice is to try to use the same amount of coverage on every quote request and and to get price estimates from all possible companies. Doing this enables a level playing field and the best price selection.
If you have coverage now or are looking for a new policy, use these cost-cutting techniques to find the best rates and still get good coverage. Locating the most cost-effective insurance policy in Memphis is easy if you know what you’re doing. Smart shoppers only need to know the best way to find the lowest price from multiple carriers.
Acura TLX insurance quotes comparison
The providers in the list below can provide free rate quotes in Tennessee. If you want to find the best auto insurance in Tennessee, it’s highly recommended you compare several of them to get the best price comparison.
Get cheap Acura TLX insurance in Memphis with discounts
Auto insurance is not inexpensive, but there may be some discounts to help offset the cost. Certain discounts will be triggered automatically when you get a quote, but once in a while a discount must be asked for in order for you to get them.
- Student in College – College-age children who live away from home to go to college and won’t have access to an insured vehicle could qualify for this discount.
- Seat Belt Discounts – Forcing all vehicle occupants to use a seat belt can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Drive Less and Save – Maintaining low annual mileage could be rewarded with discounted auto insurance rates on garaged vehicles.
- Driver Training Discounts – Taking a course that instructs on driving safety can save you 5% or more and make you a better driver.
- Military Deployment Discount – Having an actively deployed family member may lower your rates slightly.
Don’t be shocked that most discounts do not apply to the whole policy. Some only apply to individual premiums such as comp or med pay. Even though it may seem like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.
Large auto insurance companies and a partial list of their discounts are outlined below.
- GEICO may offer discounts for defensive driver, air bags, five-year accident-free, anti-theft, anti-lock brakes, daytime running lights, and membership and employees.
- Travelers may include discounts for multi-policy, save driver, continuous insurance, driver training, home ownership, and payment discounts.
- Nationwide has discounts for business or organization, multi-policy, good student, accident-free, and easy pay.
- Farmers Insurance offers premium reductions for alternative fuel, early shopping, homeowner, switch companies, youthful driver, bundle discounts, and mature driver.
- Esurance policyholders can earn discounts including Switch & Save, safety device, renters, good student, and good driver.
- State Farm has savings for accident-free, Drive Safe & Save, passive restraint, anti-theft, driver’s education, and student away at school.
- Progressive may have discounts that include homeowner, multi-policy, continuous coverage, online signing, and online quote discount.
- Mercury Insurance discounts include accident-free, multi-car, professional/association, multi-policy, annual mileage, and type of vehicle.
Before buying, ask every company which discounts you may be entitled to. A few discounts may not apply to policyholders in Memphis. To find companies that offer discounts in Tennessee, click this link.
Decisions You Make Can Impact Your Insurance Costs
Many factors are considered when pricing auto insurance. Some are obvious like a motor vehicle report, but some are not as apparent such as your credit history or your commute time. When buying car insurance it’s important to understand some of the things that play a part in calculating your policy premiums. If you know what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can earn you lower car insurance prices.
The itemized list below are some of the things companies use to determine prices.
Vehicles with better crash test results cost less to insure – Cars with high safety ratings can get you lower premiums. These vehicles have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims passed on to you as lower rates.
Is your car, truck or SUV built for speed? – The performance level of the car or truck you need insurance for makes a substantial difference in your auto insurance rates. Smaller low performance passenger cars normally have pretty low rates, but other factors influence the final cost greatly.
Cheaper rates by bundling – Most larger companies allow better rates for people who buy several policies from them in the form of a multi-policy discount. Discounts can amount to ten or even fifteen percent. Even if you’re getting this discount you still need to compare other company rates to help ensure you have the lowest rates. You may still be able to find better rates even if you have your coverage with different companies
Never let your car insurance expire – Having a gap between insurance policy dates is a sure-fire way to increase your car insurance rates. And not only will your rates increase, being ticketed for driving with no insurance may result in fines or a revoked license. You may then have to prove you have insurance by filing a SR-22 with the Tennessee motor vehicle department to get your license reinstated.
Protect yourself with liability insurance – Liability coverage will provide protection when you are ruled to be at fault for causing personal injury or damage in an accident. Your liability coverage provides for a legal defense which can be incredibly expensive. This coverage is very inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
Policy add-ons could be costing you – Insurance policies have a lot of extra bells and whistles that can waste your money on your TLX policy. Coverages for rental car coverage, accidental death, and term life insurance are some examples. You may think they are a good idea initially, but if they’re wasting money eliminate the coverages to reduce your premium.
Rural vs Urban Areas – Being located in areas with lower population is a good thing when talking about car insurance. Drivers who live in large cities have more auto accidents and higher rates of accident claims. Less people corresponds to lower accident rates and a lower car theft rate.
Save money with GPS tracking and theft deterrents – Owning a car that has an advanced theft prevention system can save you a little every year. Theft prevention features such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent car theft and help bring rates down.
Insurance loss data for Acura TLX vehicles – Insurers use data from past claims when setting premium costs. Vehicles that have increased claim numbers or amounts will have a higher premium rate. The next table shows the collected loss data for Acura TLX vehicles.
For each coverage category, the claim amount for all vehicles averaged together is considered to be 100. Percentage numbers below 100 suggest a better than average loss history, while values that are 100 or greater point to more frequent losses or statistically larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Acura TLX 4dr 2WD | 90 | 75 | 97 | 93 | 74 | 77 |
| Acura TLX 4dr 4WD | 120 | 75 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Local insurance agents
Many people would prefer to have an agent’s advice and that is a smart decision Insurance agents can help you choose the best coverages and help you file claims. One of the benefits of getting free rate quotes online is that you can find cheap rate quotes and still buy from a local agent. Supporting local agencies is important especially in Memphis.
To make it easy to find an agent, after completing this simple form, the coverage information gets sent to insurance agents in Memphis that can provide free Memphis auto insurance quotes to get your business. It’s much easier because you don’t need to find an agent on your own because prices are sent to you directly. If you wish to compare rates from one company in particular, you can always navigate to their website and give them your coverage information.
Selecting an provider should include more criteria than just a cheap price quote. These are some questions you should get answers to.
- What is the agency’s Better Business Bureau rating?
- Does the agent help file claims?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do they write coverage based solely on cost?
- Is vehicle mileage a factor when determining depreciation for repairs?
If you receive good responses to any questions you may have in addition to an acceptable price estimate, chances are good that you have found a company that will adequately provide auto insurance. But remember, consumers can cancel coverage for any reason so don’t think that you’re stuck with any particular company for a certain time period.
Best auto insurance in Tennessee
Buying coverage from the top insurer can be a challenge considering how many companies there are in Memphis. The company rank data in the lists below may help you analyze which auto insurers to look at purchasing a policy from.
Top 10 Memphis Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
One last thing about your coverage
As you prepare to switch companies, it’s a bad idea to buy poor coverage just to save money. There are a lot of situations where drivers have reduced liability coverage limits only to regret that a couple dollars of savings turned into a financial nightmare. Your strategy should be to buy enough coverage at the best price, but do not skimp to save money.
Some insurance providers may not have price quotes online and many times these smaller companies only sell coverage through independent agencies. Affordable Acura TLX insurance in Memphis can be bought both online as well as from independent agents in Memphis, so compare prices from both to get a complete price analysis.
More information can be found on the following sites:
- All About Airbag Safety (State Farm)
- What Car Insurance is Cheapest for Police Officers in Memphis? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for a Honda CR-V? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Car Insurance FAQ (Trusted Choice)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)