This would be a really short article if we could just give you the name of the one auto insurance company that has the most affordable insurance in Tennessee. It’s just not that easy, however, as there are a lot of unknowns such as the number of miles you drive in a year, your gender, and if you are married or single, that all have an effect on the price of a policy. This article should teach you a little about some of these things and will give you a good start to your coverage search.
The vehicle model requiring coverage is a large consideration when quoting affordable auto insurance after a speeding ticket. Vehicles with high performance, a lack of advanced safety features, or an increased likelihood of liability claims will cost more to insure than more modest models. The table below illustrates insurance premiums for a handful of the most affordable vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $2,444 |
| Honda Accord LX-P 4-Dr Sedan | $2,552 |
| Honda CR-V LX 2WD | $2,610 |
| Honda Odyssey LX | $2,616 |
| Toyota Prius | $2,654 |
| Ford Explorer XLT 2WD | $2,671 |
| Volkswagen Jetta S 2.5 Station Wagon | $2,829 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $2,867 |
| Dodge Grand Caravan Crew | $2,882 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $2,889 |
| Chevrolet Impala LS | $2,960 |
| Ford Edge SEL 2WD | $2,966 |
| Toyota Camry SE | $2,987 |
| Toyota RAV4 4WD | $3,019 |
| Hyundai Sonata GLS 4-Dr Sedan | $3,030 |
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Table data assumes single male driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, and claim-free. Information does not factor in specific garaging location which can alter insurance rates considerably.
Based on these rates, you can expect cars like the Ford Escape, Honda Accord, and Honda CR-V are the cheapest vehicles to insure after a few driving violations.
After a few driving violations, one of the more important things that are looked at to determine car insurance rates is where you choose to live in Memphis. Larger areas tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims have the luxury of lower rates.
The information below sorts the highest-priced areas in Tennessee after a speeding ticket to buy an auto insurance policy in. Memphis makes the list at #1 with a yearly premium of $1,505 for the average policy, which is about $125 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Memphis | $1,505 |
| 2 | Germantown | $1,374 |
| 3 | Bartlett | $1,363 |
| 4 | Collierville | $1,309 |
| 5 | Jackson | $1,305 |
| 6 | Oak Ridge | $1,247 |
| 7 | Columbia | $1,214 |
| 8 | Spring Hill | $1,205 |
| 9 | La Vergne | $1,197 |
| 10 | Clarksville | $1,194 |
| 11 | Knoxville | $1,182 |
| 12 | Cookeville | $1,182 |
| 13 | Nashville | $1,177 |
| 14 | Franklin | $1,175 |
| 15 | Maryville | $1,172 |
| 16 | Morristown | $1,159 |
| 17 | Hendersonville | $1,158 |
| 18 | Smyrna | $1,148 |
| 19 | Murfreesboro | $1,148 |
| 20 | Cleveland | $1,135 |
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Price information shown is comparative as the specific zip code location can modify prices greatly.
The example below illustrates how your choice of deductibles can influence premium costs when trying to find cheap insurance after a speeding ticket. The price estimates are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could lower their car insurance rates by $230 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $346 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old, could lower their rates $490 or even more just by choosing higher deductibles when buying full coverage. If you make the decision to raise deductibles, it is a good idea to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Discounts on Memphis insurance rates
Insurance companies that sell policies after a speeding ticket may provide price discounts that can lower rates by 40% or more if you are eligible for them. A few popular companies and their offered discounts can be read below.
- AAA offers discounts for education and occupation, AAA membership discount, anti-theft, multi-policy, good driver, pay-in-full, and good student.
- Progressive offers discounts including online signing, multi-policy, online quote discount, good student, and homeowner.
- State Farm may have discounts that include good driver, defensive driving training, good student, Steer Clear safe driver discount, and passive restraint.
- Esurance policyholders can earn discounts including defensive driver, safety device, paid-in-full, good driver, and multi-car.
- Nationwide offers premium reductions for family plan, Farm Bureau membership, good student, defensive driving, business or organization, and accident-free.
The chart below illustrates the comparison of yearly insurance costs with and without discounts applied to the policy rates. The data assumes a female driver, one violation and no at-fault accidents, Tennessee state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with paid-in-full, homeowner, anti-theft, continuous coverage, multiple policy, and vehicle safety discounts applied. When drivers qualify for the discounts, the average amount saved each year on car insurance after a speeding ticket is 28% or $492.
How to find low-cost insurance after a speeding ticket
Lowering your rates is not difficult, and here are some of the recommended thrifty ideas that can help drivers locate more affordable car insurance.
- Accidents can significantly increase rates
- Tickets and violations raise rates
- If possible, pay for small claims out-of-pocket
- Higher physical damage deductibles lower rates
- Do not insure for full coverage
- Look for cheaper rates once a year by shopping around
That last tip is extraordinarily necessary, as was affirmed in the prior article. Coverage prices can change considerably based on profitability, so drivers shouldn’t hesitate to buy from a new company if you find a cheaper price.
Sticking with a specific company is fine, but is isn’t recommended if that loyalty ends up costing a fortune every year. Take a couple minutes and shop around to find cheaper auto insurance after a speeding ticket in Memphis.