The best way to get the cheapest auto insurance rates is to compare quotes annually from insurers in Memphis. Rate comparisons can be done by completing these steps.
- Step 1: Get a basic knowledge of how companies set rates and the changes you can make to keep rates low. Many policy risk factors that drive up the price such as at-fault accidents, careless driving, and a lousy credit rating can be remedied by making lifestyle changes or driving safer. This article gives ideas to get better rates and get additional discounts.
- Step 2: Request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide price quotes for many different companies. Find a Memphis insurance agent
- Step 3: Compare the new quotes to the premium of your current policy to see if a cheaper rate is available in Memphis. If you find better rates and make a switch, ensure coverage does not lapse between policies.
- Step 4: Provide notification to your current company of your intention to cancel your existing policy and submit a completed application and payment to your new insurance company. When you receive it, place your new proof of insurance certificate in an accessible location in your vehicle.
One thing to remember is to make sure you’re comparing identical limits and deductibles on every quote request and and to get rate quotes from as many car insurance companies as possible. Doing this provides a fair price comparison and a complete price analysis.
It’s well known that insurance companies don’t want you to compare rates. Insureds who shop around for the cheapest price are likely to switch car insurance companies because there is a significant possibility of finding better rates. A study discovered that drivers who shopped around every year saved as much as $3,450 over four years as compared to drivers who never compared other company’s rates.
If finding budget-friendly Ford F-150 insurance is why you’re reading this, then having a grasp of how to quote and compare insurance coverage can help make the process easier.
If you are insured now, you stand a good chance to be able to save money using these methods. Locating the best rates in Memphis is easy if you know what you’re doing. But Tennessee consumers need to learn how the larger insurance companies compete online because rates fluctuate considerably.
How to lower your Ford F-150 insurance cost in Memphis
Keep in mind that comparing more prices will increase your chances of finding a lower rate than you’re paying now.
The companies shown below provide free rate quotes in Memphis, TN. If you want to find cheap auto insurance in Tennessee, it’s highly recommended you visit several of them in order to get a fair rate comparison.
Memphis insurance discounts for a Ford F-150
Companies that sell car insurance don’t list every discount they offer in a way that’s easy to find, so we researched a few of the more well known and the harder-to-find credits available to bring down your rates. If you do not double check each discount available, you could be getting lower rates.
- Early Renewal Discounts – A few auto insurance companies give discounts for signing up before your current coverage expires. This discount can save up to 10%.
- Passive Restraints and Air Bags – Factory options such as air bags or automatic seat belts may get savings of 20% or more.
- Mature Driver Discount – If you’re over the age of 55, you can get a discount up to 10%.
- Online Discount – A few larger online companies will give a small break for buying your policy digitally online.
- Defensive Driver Discounts – Passing a defensive driver course could save 5% or more and easily recoup the cost of the course.
- Multiple Policy Discount – When you have multiple policies and insure them both with the same insurance company you will save up to 20% off your total F-150 insurance premium.
- Discounts for New Vehicles – Buying coverage on a new vehicle can get you a discount because new vehicles keep occupants safer.
- Discounts for Government Workers – Federal government employees can save as much as 8% with select insurance companies.
- Multi-line Discount – Some auto insurance companies give better rates if you take out some life insurance in addition to your auto policy.
As a footnote on discounts, most discounts do not apply to the whole policy. Most only reduce the cost of specific coverages such as liability and collision coverage. So even though you would think you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
The information below visualizes the comparison of Ford F-150 auto insurance rates with and without discounts applied to the policy premium. The data assumes a female driver, no accidents, no driving violations, Tennessee state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, safe-driver, multi-car, homeowner, and multi-policy discounts applied.
To see a list of companies that offer multiple discounts in Memphis, click this link.
Coverage statistics and figures
The table below highlights different rate quotes for Ford F-150 models. Understanding how auto insurance prices are determined helps drivers make decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| F-150 XL Regular Cab 2WD | $124 | $166 | $278 | $16 | $82 | $666 | $56 |
| F-150 STX Regular Cab 2WD | $124 | $212 | $278 | $16 | $82 | $712 | $59 |
| F-150 XL Super Cab 2WD | $124 | $212 | $278 | $16 | $82 | $712 | $59 |
| F-150 XLT Regular Cab 2WD | $124 | $212 | $278 | $16 | $82 | $712 | $59 |
| F-150 STX Super Cab 2WD | $124 | $212 | $278 | $16 | $82 | $712 | $59 |
| F-150 XL Crew Cab 2WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XLT Super Cab 2WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 STX Regular Cab 4WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XL Regular Cab 4WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 FX2 Super Cab 2WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XLT Crew Cab 2WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XL Super Cab 4WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XLT Regular Cab 4WD | $142 | $212 | $278 | $16 | $82 | $730 | $61 |
| F-150 XL Crew Cab 4WD | $160 | $212 | $278 | $16 | $82 | $748 | $62 |
| F-150 STX Super Cab 4WD | $160 | $212 | $278 | $16 | $82 | $748 | $62 |
| F-150 XLT Super Cab 4WD | $160 | $212 | $278 | $16 | $82 | $748 | $62 |
| F-150 FX2 2WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 Lariat Super Cab 2WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 Lariat Crew Cab 2WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 FX4 Super Cab 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 XLT Crew Cab 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 FX4 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 Lariat Crew Cab 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 SVT Raptor Super Cab 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 Lariat Super Cab 4WD | $160 | $258 | $278 | $16 | $82 | $794 | $66 |
| F-150 Lariat Crew Cab Platinum 2WD | $160 | $304 | $278 | $16 | $82 | $840 | $70 |
| F-150 Lariat Crew Cab Harley 2WD | $160 | $304 | $278 | $16 | $82 | $840 | $70 |
| F-150 Lariat King Ranch 2WD | $160 | $304 | $278 | $16 | $82 | $840 | $70 |
| F-150 Lariat King Ranch 4WD | $178 | $304 | $278 | $16 | $82 | $858 | $72 |
| F-150 Lariat Crew Cab Harley 4WD | $178 | $304 | $278 | $16 | $82 | $858 | $72 |
| F-150 Lariat Crew Cab Platinum 4WD | $178 | $304 | $278 | $16 | $82 | $858 | $72 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Table data does not factor in specific location which can increase or decrease premiums significantly.
The example below highlights how deductible selection and can affect Ford F-150 insurance costs for each different age group. The data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied.
Careless drivers pay higher rates
The diagram below demonstrates how speeding tickets and accidents influence Ford F-150 premium costs for each different age group. The prices are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
Auto insurance agents can help
Many drivers still prefer to get advice from a local agent and that can be a smart move One of the great benefits of getting online price quotes is you may find lower premium rates and still have a local agent.
After completing this quick form, the coverage information is transmitted to companies in Memphis who will give competitive quotes to get your business. There is no reason to find an agent on your own because prices are sent instantly to you. It’s the lowest rates without a big time investment. In the event you want to compare prices from one company in particular, you can always jump over to their website and fill out the quote form the provide.
Selecting an insurer needs to be determined by more than just a cheap quote. Any agent in Memphis should be willing to answer these questions.
- Will the agent or a CSR service your policy?
- Can you choose the body shop in case repairs are needed?
- How long has their agency been in business in Memphis?
- Will they make sure you get an adequate claim settlement?
- Are aftermarket or OEM parts used to repair vehicles?
The difference between Memphis auto insurance agents
If you would like to find an insurance agent, it can be helpful to understand the different agency structures and how they are distinctly different. Insurance agencies in Memphis can be described as either exclusive or independent.
Exclusive Insurance Agencies
These type of agents can only place business with one company such as Allstate and State Farm. Exclusive agents are unable to provide prices from multiple companies so if the price isn’t competitive there isn’t much they can do. Exclusive agencies receive a lot of sales training in insurance sales and that enables them to sell even at higher rates.
Below is a list of exclusive agents in Memphis who can help you get rate quotes.
Ulysses Cosby – State Farm Insurance Agent
248 Cooper St – Memphis, TN 38104 – (901) 276-1044 – View Map
Heath Johnson – State Farm Insurance Agent
2657 Appling Rd #101 – Memphis, TN 38133 – (901) 372-2228 – View Map
Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map
Independent Agents
Agents in the independent channel do not work for one specific company so they can insure your vehicles through lots of different companies and find the cheapest rate. If premiums increase, an independent agent can move your coverage and the insured can keep the same agent.
When comparing insurance prices, you will definitely want to get quotes from several independent insurance agents to maximize your price options.
Shown below are Memphis independent agencies that are able to give rate quotes.
Nationwide Insurance: Bennita J Wade Agency
1503 Union Ave Ste 220 – Memphis, TN 38104 – (901) 276-8571 – View Map
BURFORD INSURANCE AGENCY
3325 KIRBY PKWY STE 102 – Memphis, TN 38115 – (901) 507-6873 – View Map
First Reliable Insurance Agency
5495 Winchester Rd Suite 3 – Memphis, TN 38115 – (901) 362-6052 – View Map
After talking to the agent and getting positive feedback for all questions you ask as well as offering an affordable quote, you have narrowed it down to a car insurance agent that is reliable enough to provide insurance coverage.
Which policy gives me the best coverage?
Always keep in mind that when comparing adequate coverage for your vehicles, there isn’t really a perfect coverage plan. Your financial needs are unique and a cookie cutter policy won’t apply.
These are some specific questions may help highlight whether you would benefit from professional advice.
- What does PIP insurance cover?
- Are rental cars covered under my policy?
- Am I covered if I back into my garage door?
- Why do I need rental car insurance?
- How much will a speeding ticket raise my rates?
- When should my teen driver be added to my policy?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Who is covered by my policy?
If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.
Auto insurance 101
Learning about specific coverages of car insurance aids in choosing which coverages you need for your vehicles. Car insurance terms can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages available from car insurance companies.
Protection from uninsured/underinsured drivers
Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants as well as damage to your Ford F-150.
Due to the fact that many Tennessee drivers only purchase the least amount of liability that is required (Tennessee limits are 25/50/15), their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family.
Comprehensive (Other than Collision)
Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as fire damage, damage from a tornado or hurricane, a broken windshield and damage from flooding. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Coverage for collisions
Collision coverage covers damage to your F-150 caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as backing into a parked car, hitting a parking meter and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Drivers also have the option to bump up the deductible on your F-150 to bring the cost down.
Liability
This protects you from damages or injuries you inflict on other’s property or people that is your fault. It protects YOU from claims by other people, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/15 which stand for a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and $15,000 of coverage for damaged property.
Liability insurance covers claims such as bail bonds, funeral expenses, pain and suffering and attorney fees. How much liability coverage do you need? That is up to you, but buy higher limits if possible. Tennessee state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy more coverage.
The next chart demonstrates why buying low liability limits may not provide adequate coverage.
Medical expense insurance
Medical payments and Personal Injury Protection insurance provide coverage for bills for things like doctor visits, dental work, prosthetic devices and EMT expenses. They are used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage
You can find cheap coverage
Discount Ford F-150 insurance in Memphis can be bought on the web in addition to many Memphis insurance agents, and you should compare rates from both in order to have the best price selection to choose from. Some insurance providers may not have online price quotes and usually these regional insurance providers prefer to sell through independent insurance agents.
When trying to cut insurance costs, it’s a bad idea to buy poor coverage just to save money. Too many times, an insured dropped liability limits or collision coverage only to discover later that they should have had better coverage. Your focus should be to get the best coverage possible for the lowest price but still have enough coverage for asset protection.
For more information, feel free to browse these articles:
- Where can I buy Insurance? (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Teenagers in Memphis? (FAQ)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Teen Driver Statistics (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)