The type of vehicle driven is a large factor that determines whether or not you find the best auto insurance for 4×4 vehicles. Vehicles with lower acceleration and performance, good safety features, or low incidents of liability claims will cost quite a bit less to insure than adrenaline junky models. The table below estimates auto insurance rates for a handful of the most affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,731 |
| Honda Accord EX 4-Dr Sedan | $1,854 |
| Toyota Prius | $1,878 |
| Ford Escape XLT 4WD | $1,898 |
| Ford Explorer Eddie Bauer 2WD | $1,908 |
| Ford F-150 XLT Super Cab 4WD | $1,936 |
| Honda Odyssey EX | $1,969 |
| Ford Focus SE 4-Dr Sedan | $1,979 |
| Toyota Tacoma Double Cab 4WD | $2,007 |
| Toyota Camry SE | $2,115 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $2,153 |
| Nissan Rogue SL 2WD | $2,163 |
| Chevrolet Malibu LTZ | $2,153 |
| Ford Edge SE AWD | $2,156 |
| Toyota RAV4 Sport 4WD | $2,200 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $2,212 |
| Volkswagen Jetta SE 2.5 Station Wagon | $2,227 |
| Chevrolet Impala LT | $2,259 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,277 |
| Toyota Camry Hybrid | $2,300 |
| Dodge Grand Caravan Crew | $2,312 |
| Chevrolet Equinox LTZ AWD | $2,362 |
| Toyota Corolla XLE | $2,365 |
| Compare Cheap Rates Go | |
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Prices do not factor in Memphis, TN location which can impact price quotes greatly.
Looking at the rates, we can assume that models like the Honda CR-V, Honda Accord, and Toyota Prius will be a few of the most economical vehicles to insure for off-road vehicles.
For off-road vehicles, one of the big things that are looked at to determine the amount you pay each year for auto insurance is your address. Areas with high crime rates or more dense population likely pay more, whereas less populated areas have the luxury of lower rates.
The illustration below rates the most costly cities in Tennessee for 4×4 vehicles in which to purchase auto insurance. Memphis shows up at #1 with an annual cost of $1,490 for car insurance, which is about $124 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Memphis | $1,490 |
| 2 | Bartlett | $1,405 |
| 3 | Germantown | $1,334 |
| 4 | Collierville | $1,323 |
| 5 | Jackson | $1,292 |
| 6 | Oak Ridge | $1,223 |
| 7 | Knoxville | $1,218 |
| 8 | Nashville | $1,213 |
| 9 | Maryville | $1,208 |
| 10 | Murfreesboro | $1,194 |
| 11 | Columbia | $1,190 |
| 12 | Cookeville | $1,182 |
| 13 | Franklin | $1,175 |
| 14 | Morristown | $1,171 |
| 15 | Hendersonville | $1,170 |
| 16 | Smyrna | $1,159 |
| 17 | Clarksville | $1,158 |
| 18 | Spring Hill | $1,157 |
| 19 | La Vergne | $1,151 |
| 20 | Chattanooga | $1,149 |
| 21 | Brentwood | $1,133 |
| 22 | Gallatin | $1,121 |
| 23 | Cleveland | $1,102 |
| 24 | Johnson City | $1,063 |
| 25 | Kingsport | $1,037 |
| Find Cheaper Rates Go | ||
Price information shown is comparative as the vehicle garaging location can affect premiums noticeably.
Deciding which companies offer the most affordable auto insurance rates for 4×4 vehicles requires a little more sweat in order to find the lowest price quote. Each auto insurer has a proprietary method to determine rates, so let’s rank the lowest cost auto insurance companies in Memphis.
It’s a good idea to be aware that Tennessee auto insurance rates are impacted by many things that control the price you have to pay for coverage. Improving your credit rating, buying a home, or getting caught speeding may generate price changes resulting in some rates now being more affordable than the competition.
Find the Best Cheap Insurance for 4×4’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $760 |
| 2 | Auto-Owners | $827 |
| 3 | Cincinnati Insurance | $876 |
| 4 | Tennessee Farmers | $923 |
| 5 | Penn National | $926 |
| 6 | USAA | $947 |
| 7 | Erie | $997 |
| 8 | Nationwide | $1,012 |
| 9 | Westfield | $1,047 |
| 10 | Allied | $1,049 |
| 11 | GEICO | $1,110 |
| 12 | State Farm | $1,177 |
| 13 | Shelter | $1,187 |
| 14 | State Auto | $1,204 |
| 15 | Travelers | $1,213 |
| 16 | Progressive | $1,214 |
| 17 | Direct General | $1,251 |
| 18 | The Hartford | $1,258 |
| 19 | 21st Century | $1,313 |
| 20 | Chubb | $1,329 |
| Find Cheaper Rates Go | ||
Utica National generally has some of the lowest car insurance rates in Memphis at around $760 per year. Auto-Owners, Cincinnati Insurance, Tennessee Farmers, and Penn National also are some of the cheaper Memphis, TN insurance companies.
As shown above, if you currently buy coverage from Cincinnati Insurance and switched to Utica National, you might realize an annual premium reduction of in the neighborhood of $116. Policyholders with Tennessee Farmers may save as much as $163 a year, and Penn National policyholders might reduce prices by as much as $166 a year.
Understand that those premiums are averages across all ages of drivers and types of vehicles and and are not figured with a vehicle location for 4×4 vehicles. So the company that can offer you the best price may not even be in the list above. That’s why you need to get auto insurance quotes using your own individual information.
Discounts on Memphis car insurance rates
Insurers that provide policies for 4×4 vehicles may additionally offer discounts that could potentially reduce rates by 25% or more if you are eligible to receive them. A few of the larger companies and the discounts they provide are:
- State Farm may offer discounts for accident-free, Drive Safe & Save, multiple autos, student away at school, and anti-theft.
- GEICO includes discounts for anti-theft, five-year accident-free, emergency military deployment, multi-vehicle, multi-policy, seat belt use, and federal employee.
- Allstate offers discounts including FullPay discount, safe driver, anti-theft, eSmart discount, farm vehicle, resident student, and utility vehicle.
- SAFECO has savings for teen safe driver, anti-lock brakes, teen safety rewards, drive less, and safe driver.
- Farm Bureau policyholders can earn discounts including multi-vehicle, multi-policy, youthful driver, 55 and retired, driver training, safe driver, and renewal discount.
- Progressive discounts include online signing, homeowner, continuous coverage, good student, online quote discount, multi-vehicle, and multi-policy.
- AAA offers discounts for multi-policy, pay-in-full, AAA membership discount, good driver, and education and occupation.
The information below shows the comparison of insurance costs with and without discounts applied. The rates are based on a female driver, no claims, a clean driving record, Tennessee state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with passive restraint, claim-free, vehicle safety, anti-theft, marriage, and defensive driving course discounts applied. When discounts are applied, theaverage amount saved on auto insurance for 4×4 vehicles is 28% or $391.
Does full coverage make sense?
Saving money on auto insurance is probably important to the majority of vehicle owners, and a good way to save on the cost of insurance for 4×4 vehicles is to only buy liability coverage. The illustration below illustrates the difference between insurance prices with full coverage and liability only. Data assumes no claims or driving violations, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
As an overall average, full coverage costs $2,220 per year over and above liability only. Lot’s of drivers question when is it a good idea to stop buying full coverage. There is no definitive rule to delete physical damage insurance, but there is a general guideline. If the annual cost of coverage is more than about 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
The importance of shopping around
Memphis auto insurance rates are impacted by many factors which can substantially decrease or increase the cost of your policy. Simply getting older, moving to a new city, or getting a couple of tickets can trigger price changes that may make certain companies cheaper than before. In addition to those changes, car insurance companies modify pricing multiple times each year in order to protect their financial rating. An unexpected high level of claims may result in high rates, while profitable underwriting may result in lower-cost Memphis car insurance rates.
The bar chart below compares the cheapest car insurance in Memphis, TN for a 45-year-old male driver with no violations or accidents, and good financial standing. Based on his current risk factors, Utica National offers the cheapest car insurance rates in Memphis at $1,092 annually. This is $236 less than the average rate paid by Tennessee drivers of $1,328. Cincinnati Insurance, Auto-Owners, Tennessee Farmers, and Penn National are also on the list of the most affordable Memphis, TN auto insurance companies.
Now we will give the driver in the first chart an accident claim, slightly worse credit, and a speeding citation. Since each company has a proprietary formula to establish rates, getting updated rate quotes most likely will result in a different ranking of affordable Memphis car insurance companies as shown below.
Erie now has the cheapest car insurance in Memphis with Nationwide, Allied, Westfield, and GEICO completing the list. This demonstrates why consumers need to do a thorough rate comparison when trying to find cheap insurance quotes for 4×4 vehicles. Insurance prices are influenced by many risk factors and can decrease or increase without notice, so the cheapest option the last time you compared rates may now not even be in the top five.