Locating low-priced insurance is hard enough, and deciding which companies have the lowest-priced auto insurance rates for drivers over age 70 may require a little more work.
Every car insurance company uses a slightly different approach to determine premium rates, so first we will examine the auto insurance companies with the overall cheapest rates in Memphis, TN. It’s a good idea to know that Tennessee auto insurance rates are based on many factors that can increase the price you have to pay for coverage. That is why it is important to spend some time comparing rates to find cheap insurance quotes for drivers over age 70. Prices are influenced by many things and can increase or decrease at any time, so the best option when you last compared rates may now cost much more than other companies.
Find the Cheapest Car Insurance for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $737 |
| 2 | Auto-Owners | $836 |
| 3 | Cincinnati Insurance | $884 |
| 4 | Penn National | $899 |
| 5 | Tennessee Farmers | $933 |
| 6 | USAA | $947 |
| 7 | Erie | $967 |
| 8 | Nationwide | $1,012 |
| 9 | Westfield | $1,037 |
| 10 | Allied | $1,060 |
| 11 | GEICO | $1,144 |
| 12 | State Farm | $1,165 |
| 13 | Travelers | $1,165 |
| 14 | Progressive | $1,178 |
| 15 | Shelter | $1,199 |
| 16 | Direct General | $1,201 |
| 17 | State Auto | $1,241 |
| 18 | The Hartford | $1,258 |
| 19 | 21st Century | $1,274 |
| 20 | Chubb | $1,277 |
| Get Personalized Rates Go | ||
Utica National generally has some of the cheapest car insurance rates in Memphis at around $737 annually. This is $591 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and Tennessee Farmers also rank well as some of the cheapest Memphis, TN auto insurance companies.
As shown above, if you have coverage with Tennessee Farmers and switched to Auto-Owners, you might achieve yearly savings of about $97. Customers with USAA could save as much as $111 a year, and Erie insureds might lower prices by $131 a year.
Bear in mind that those rates are averaged for all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for drivers over age 70. So the insurer that is best for you may not even be in the top 30 companies shown above. That is why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
For older drivers, one of the more important components that are used to help calculate auto insurance rates is where you choose to live. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates benefit from having to pay less for coverage.
The information below lists the highest-priced areas in Tennessee for drivers over age 70 in which to buy car insurance. Memphis is ranked at #1 with an annual cost of $1,446 on average, which is approximately $121 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Memphis | $1,446 |
| 2 | Bartlett | $1,405 |
| 3 | Germantown | $1,334 |
| 4 | Collierville | $1,323 |
| 5 | Jackson | $1,292 |
| 6 | Oak Ridge | $1,247 |
| 7 | Nashville | $1,213 |
| 8 | Maryville | $1,208 |
| 9 | Columbia | $1,190 |
| 10 | La Vergne | $1,186 |
| 11 | Knoxville | $1,182 |
| 12 | Franklin | $1,175 |
| 13 | Hendersonville | $1,170 |
| 14 | Clarksville | $1,170 |
| 15 | Gallatin | $1,167 |
| 16 | Chattanooga | $1,161 |
| 17 | Spring Hill | $1,157 |
| 18 | Smyrna | $1,148 |
| 19 | Murfreesboro | $1,148 |
| 20 | Cookeville | $1,147 |
| Find Cheaper Insurance Go | ||
Information shown are comparative as specific Memphis garaging address can alter coverage rates noticeably.
The make and model of vehicle you are seeking coverage for is a large consideration that determines whether or not you can buy affordable coverage for drivers over age 70. Vehicles with high performance, a lack of safety features, or a high likelihood of having liability claims will cost significantly more to insure than more modest models.
The next list shows car insurance prices for a selection of the most budget-friendly automobiles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $1,776 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,861 |
| Hyundai Elantra SE Touring Station Wagon | $1,912 |
| Ford Escape Limited 4WD | $1,918 |
| Honda Accord EX-L 4-Dr Sedan | $1,912 |
| Toyota Prius | $1,940 |
| Ford F-150 XL Regular Cab 4WD | $1,995 |
| Volkswagen Jetta 2.0T Station Wagon | $2,049 |
| Ford Edge Limited 2WD | $2,082 |
| Toyota RAV4 Sport 4WD | $2,107 |
| Chevrolet Impala LT | $2,117 |
| Chevrolet Silverado LS Extended Cab 4WD | $2,107 |
| Dodge Grand Caravan Hero | $2,115 |
| Chevrolet Equinox LS AWD | $2,107 |
| Jeep Grand Cherokee Laredo 2WD | $2,116 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $2,134 |
| Ford Explorer Limited 4WD | $2,143 |
| Start Your Quote Go | |
Table data represents single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Prices do not factor in specific location which can decrease or increase coverage prices substantially.
Looking at the numbers, we can infer that makes and models like the Honda CR-V, Jeep Wrangler, and Hyundai Elantra are most likely to be a few of the most affordable vehicles to insure for older drivers. Auto insurance rates will tend to be more expensive just due to the fact that there is more liability exposure for drivers over age 70, but generally speaking those specific models will tend to have the best insurance prices compared to all other vehicles.
Safe drivers pay less for auto insurance
A great way to obtain the most affordable auto insurance prices for older drivers is to drive carefully and avoid accidents and traffic citations. The information below shows how violations and at-fault accidents raise insurance costs for each different age category. The premiums assume a married female driver, full coverage, $100 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of a car insurance policy in Tennessee per year with a clean driving record and no accidents is $1,742. Add in one speeding ticket and the average cost swells to $2,025, an increase of $283 each year. Now get two accidents along with the one speeding ticket and the yearly cost of auto insurance for drivers over age 70 goes up to an average of $4,408. That’s an increase of $2,667, or $222 per month, just for not being more responsible behind the wheel!
Selecting a good quality insurance provider can be difficult considering how many companies there are to choose from in Memphis. The rank data in the next section could help you choose which car insurance providers to look at comparing prices from. These rankings are only made up of the companies with a significant amount of written premium nationwide, so smaller companies are not included in the list.
Top 10 Major Auto Insurance Companies Overall in Memphis
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
The agents shown below are a good start to aid you in deciding which car insurance company is the best fit, since many people would rather have a little guidance when trying to find lower insurance rates for older drivers. It can be complicated to do it yourself, so getting advice from a licensed agent can bring peace of mind knowing your coverage gives you enough coverage if you have a claim.
To locate a Memphis auto insurance agent by location nearest to you, click the button after the list or click here to compare price quotes.
Sylvia Walker – State Farm Insurance Agent
2900 Kirby Pkwy Ste 2 – Memphis, TN 38119 – (901) 794-8848
Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551
Farmers Insurance: Candace Hall
1444 E Shelby Dr #329 – Memphis, TN 38116 – (901) 345-2615
Allstate Insurance: Ezekeil Hudson
53 Monroe Ave – Memphis, TN 38103 – (901) 235-9315
Find a Memphis, TN insurance agent near you
How to find more affordable insurance for drivers over age 70
Here are some money-saving suggestions that can help Memphis drivers buy more affordable auto insurance.
- Increase the comprehensive and collision deductibles on your policy
- Buy safe vehicles
- Do not pay for comprehensive and collision coverage on older vehicles
- Frequent claims will increase rates
- Increase your credit rating
- Bundle home and auto and earn a discount
- Shop around once a year for cheaper rates
The last tip is notably valuable, as we noted in the prior article. Auto insurance rates go up and down frequently, so drivers shouldn’t be reluctant to buy a different policy if a better rate can be found.
Being loyal to a particular company is commendable, but we do not recommend it if that stubbornness costs you several hundred dollars every year. In just a few minutes you could compare prices and find cheaper auto insurance for drivers over age 70 in Memphis.