It’s a known fact that insurance companies don’t want you to compare rates. Insureds who perform rate comparisons are inclined to switch to a new company because there is a good probability of finding a cheaper policy. A recent survey revealed that drivers who compared rate quotes regularly saved on average $3,400 over four years compared to those who don’t make a habit of comparing rates.
If finding the lowest price on insurance in Memphis is your objective, learning the best way to shop and compare insurance coverage can save time and make the process easier.
If saving the most money is your goal, then the best way to quote cheaper car insurance rates is to annually compare prices from insurers who can sell car insurance in Memphis. You can shop around by following these guidelines.
- First, take a few minutes and learn about car insurance and the modifications you can make to keep rates in check. Many rating criteria that result in higher rates such as careless driving and a poor credit score can be eliminated by making minor changes in your lifestyle.
- Second, compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like Progressive and State Farm, while independent agencies can quote rates for a wide range of insurance providers. Begin your rate comparison
- Third, compare the new rates to your current policy and see if there is a cheaper rate. If you can save money and change companies, verify that coverage does not lapse between policies.
- Fourth, tell your current agent or company of your intent to cancel your current policy and submit a signed application and payment for your new policy. As soon as you receive it, store the certificate verifying proof of insurance somewhere easily accessible.
One key aspect when comparing rates is to make sure you enter identical coverage information on each quote and and to look at as many auto insurance providers as possible. Doing this provides an apples-to-apples comparison and a complete price analysis.
The fastest way that we advise to compare policy rates for Toyota Prius V insurance in Memphis is to take advantage of the fact all the major auto insurance companies allow for online access to give free rates quotes. To get started, all you need to do is provide details like your job, if it has an alarm system, driver details, and level of coverage desired. The data is instantly submitted to multiple car insurance providers and you will receive price estimates within a short period of time.
To check Toyota Prius V insurance prices now, click here and enter your coverage details.
The companies shown below are ready to provide free quotes in Tennessee. If multiple companies are listed, we recommend you get price quotes from several of them to get the most competitive price.
These discounts can lower Toyota Prius V insurance rates
Some insurance providers don’t always list every discount they offer in an easy-to-find place, so the following list contains both the well known in addition to some of the lesser obvious discounts that may be available.
- Early Payment Discounts – By paying your entire bill at once as opposed to paying monthly you could save 5% or more.
- Bundled Policy Discount – If you can combine your auto and homeowners policy with one company you may save up to 20% and get you the cheapest Toyota Prius V insurance in Memphis.
- Defensive Driver Discount – Passing a defensive driving class could earn you a small percentage discount and also improve your driving technique.
- Senior Discount – Drivers that qualify as senior citizens may receive better insurance rates.
- First Accident Forgiveness – This one isn’t a discount, but companies like Progressive, Allstate, and Liberty Mutual permit an accident before raising your premiums so long as you haven’t had any claims for a particular time prior to the accident.
- Life Insurance – Some insurance carriers give a break if you buy life insurance from them.
- Active Military Service – Being on active deployment in the military could qualify you for better premium rates.
- Savings for New Vehicles – Insuring a new Prius V may earn a small discount compared to insuring an older model.
- Multiple Vehicles – Drivers who insure more than one vehicle with the same company can get a discount for every vehicle.
- Responsible Driver Discounts – Safe drivers may receive a discount up to 45% than their less cautious counterparts.
Don’t be surprised that some credits don’t apply to the whole policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck. But any discount should definitely cut your overall premium however.
Car insurance companies that may offer most of these discounts possibly include:
If you are trying to find affordable Toyota Prius V insurance quotes, ask each insurance company to apply every possible discount. Depending on the company, some discounts may not be available in every state. To find providers with discount rates in Memphis, follow this link.
Components of Your Toyota Prius V Insurance Rates
Part of the insurance buying process is learning some of the things that come into play when calculating the level of your policy premiums. When you understand what controls the rates you pay, this empowers consumers to make smart changes that could result in big savings.
The following are a partial list of the pieces utilized by car insurance companies to help set rates.
Teen drivers cost more – Youthful drivers in Tennessee have been known to be less responsible with other occupants in the car therefore insurance rates are much higher. Having to add a teen driver onto your insurance can cause a big jump in price. More mature drivers are viewed as being more responsible, tend to cause fewer accidents, and usually have better credit.
Premiums are affected by your address – Residing in less populated areas is a positive aspect when buying insurance. City drivers tend to have more aggressive driving styles and much longer commute distances. Fewer drivers and short commutes means reduced accidents and also fewer theft and vandalism claims.
No insurance claims equals cheaper prices – Insurance companies in Tennessee give the best rates to people who are not frequent claim filers. If you frequently file small claims, you can look forward to higher rates. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
Do you save by driving less? – The more miles you rack up on your Toyota every year the more you’ll pay to insure it. Many insurance companies charge to insure your cars based on their usage. Cars that are left in the garage get more affordable rates than vehicles that are driven to work every day. Improper usage on your Prius V is throwing money out the window. It’s always a good idea to double check that your insurance policy reflects the correct driver usage, because improper ratings can cost you money.
Don’t cancel your policy without a new one in place – Driving without insurance coverage in place is against the law and any future policy may cost more because you let your insurance coverage expire. In addition to paying higher premiums, getting caught without coverage could result in fines or a revoked license.
Safety first – Safer cars tend to have lower insurance rates. Vehicles engineered for safety help reduce the chance of injuries in an accident and lower rates of occupant injuries means less money paid by your insurance company and cheaper rates on your policy.
Car and home together may be cheaper – Most larger insurers allow better rates to people who carry more than one policy. It’s known as a multi-policy discount. Even though this discount sounds good, you still need to get quotes from other companies to guarantee you are still saving the most.
Toyota Prius V historical loss data – Companies use past loss statistics for each vehicle to calculate a price that will offset losses. Models that the data shows to have a higher amount or frequency of claims will have a higher cost to insure. The table below demonstrates the historical loss data for Toyota Prius V vehicles.
For each policy coverage type, the loss probability for all vehicles as a whole is set at 100. Values that are 100 or less mean the vehicle has better than average losses, while values that are above 100 point to more losses or statistically larger losses.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Prius V Hybrid | 94 | 86 | 88 | 88 | 94 | 97 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Compare rates but still have a local neighborhood Memphis car insurance agent
A small number of people just prefer to go talk to an agent and we recommend doing that One of the great benefits of getting free rate quotes online is the fact that drivers can get lower rates and still buy from a local agent.
After filling out this short form, the quote information gets sent to participating agents in Memphis who will give competitive quotes for your business. You won’t even need to search for an agent because quoted prices will be sent to your email. You can get cheaper auto insurance rates and an insurance agent to talk to. If for some reason you want to compare rates from one company in particular, you just need to visit that company’s website to submit a rate quote request.
Picking the best insurance company is decision based upon more than just the price. Any agent in Memphis should be forthright in answering these questions:
- Is auto insurance their primary focus in Memphis?
- Is there any savings for paying the full premium?
- Can glass repairs be made at your home?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Do they have any clout with companies to ensure a fair claim settlement?
- Are you getting all the discounts the company offers?
You may need specialized car insurance coverage
Always keep in mind that when comparing coverage online or from an agent for your personal vehicles, there is no single plan that fits everyone. Everyone’s situation is a little different so this has to be addressed.
For example, these questions may help you determine if your insurance needs will benefit from professional help.
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- What are the liability requirements in my state?
- Is my teen driver covered when they drive my company car?
- What if I don’t agree with a claim settlement offer?
- Does coverage follow the driver or the vehicle?
- Is upholstery damage covered by car insurance?
- Can I get a multi-policy discount?
- Does my insurance cover a custom paint job?
- How high should deductibles be on a Toyota Prius V?
- Where can I find DUI or SR-22 insurance?
If you’re not sure about those questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.
Memphis auto insurance company ratings
Buying coverage from the best auto insurance provider is difficult considering how many companies provide coverage in Memphis. The company ratings shown next may help you decide which companies to look at when comparing rates.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Erie Insurance | 87 | 84 | 85 | 85% | A+ | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The best insurance company isn’t always the cheapest
When searching for inexpensive Memphis car insurance quotes, it’s not a good idea to buy less coverage just to save a little money. In many instances, an accident victim reduced physical damage coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. The goal is to buy the best coverage you can find for the lowest price.
Some insurance companies may not provide online price quotes and most of the time these regional insurance providers only sell through independent insurance agents. Affordable Toyota Prius V insurance in Memphis can be purchased online as well as from insurance agents, and you need to price shop both to get a complete price analysis.
Much more information about insurance in Tennessee can be found at the links below
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- What Car Insurance is Cheapest for Police Officers in Memphis? (FAQ)
- Who Has Cheap Memphis Car Insurance for Ride Shares? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Subaru Outback in Memphis? (FAQ)
- How Much are Memphis Auto Insurance Quotes for a Mazda CX-7? (FAQ)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Understanding Limits and Deductibles (Allstate)
- Teen Driver Statistics (Insurance Information Institute)
- Shopping for a Safe Car (Insurance Information Institute)