How to Save on Saturn Outlook Insurance in Memphis

How many times have you told yourself it’s time to shop around for lower-priced Saturn Outlook insurance in Memphis? Baffled by the number of car insurance sources that you can choose from? You’re not alone. There are so many options that it can turn into a difficult mission to find a more affordable company. Memphis is a great city to live in, but finding the money to pay for car insurance makes it impossible to pay other bills every month.

It’s safe to conclude that insurance companies don’t want you to compare rates. Insureds who compare other rates are likely to buy a different policy because there is a good chance of finding a policy with more affordable rates. A recent car insurance study discovered that consumers who routinely shopped for cheaper coverage saved about $70 a month compared to those who never compared prices.

If finding the lowest price on Saturn Outlook insurance in Memphis is the reason you’re reading this, understanding how to shop and compare insurance coverage can save time and make the process easier.

It’s a good habit to take a look at other company’s rates on a regular basis due to the fact that insurance prices change quite often. If you had the best rate on Saturn Outlook insurance in Memphis a couple years back a different company probably has better premium rates today. Forget anything you know (or think you know) about car insurance because I’m going to teach you one of the easiest ways to save on car insurance.

The fastest way that we advise to get rate comparisons for Saturn Outlook insurance in Memphis is to know the fact all the major auto insurance companies have advanced systems to quote your coverage. To begin a comparison, all you need to do is provide a small amount of information like the year, make and model of vehicles, if you require a SR-22, how much coverage you want, and driver details. Your information is instantly provided to multiple top-rated companies and you should receive rate quotes very quickly.

To start a quote now, click here and find out if lower rates are available in Memphis.

The providers in the list below are ready to provide free rate quotes in Tennessee. To get cheap auto insurance in TN, we recommend you get rates from several of them in order to find the lowest rates.

Saturn Outlook insurance statistics and information

The premium table shown below covers detailed analysis of insurance rates for Saturn Outlook models. Having a better idea how rates are formulated can help you make informed decisions.

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate information does not factor in specific zip code location which can revise premiums considerably.

How high should deductibles be?

One of the most common insurance questions is which deductibles should you choose. The rates shown below illustrate the differences in premium rates when you buy lower versus higher physical damage deductibles. The first set of prices uses a $100 physical damage deductible and the second price chart uses a $500 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Rate quotes do not factor in specific location information which can modify price quotes substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you roughly $23 more each month or $276 a year averaged for all Outlook models than requesting the higher $500 deductible. Because you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 17 months between claim filings, you would probably save some money if you choose a higher deductible.

The example below demonstrates how choosing different deductibles and can change Saturn Outlook insurance prices for different age groups. The costs are based on a married female driver, full physical damage coverage, and no discounts are factored in.

Do you need full coverage?

The diagram below compares Saturn Outlook insurance costs with and without full coverage. Data assumes no accidents, no driving violations, $500 deductibles, single marital status, and no discounts are taken into consideration.

Should you buy full coverage or liability only?

There is no definitive rule of when to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.

For example, let’s pretend your Saturn Outlook claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after you pay the deductible. If it’s costing you more than $800 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some conditions where only buying liability is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should maintain full coverage.

Why Your Insurance Prices might be higher

Many factors are used in the calculation when premium rates are determined. Some are pretty understandable like an MVR report, but other factors are not as apparent like your vehicle usage and annual miles driven.

• Bundle and save – Some insurance companies apply better rates for people who have multiple policies with them such as combining an auto and homeowners policy. This can amount to five, ten or even twenty percent. If you currently are using one company, it’s still a good idea to check prices from other companies to guarantee you are still saving the most.
• Deter theft and pay less – Choosing a vehicle with an alarm system can save you some money. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms help track and prevent car theft and help bring rates down.

• Females tend to cost less – Over the last 30 years, statistics show that females take fewer risks when driving. The data does not necessarily mean that females are better drivers. Males and females get in at-fault accidents at about the same rate, but guys tend to have higher claims. Men also statistically get cited for more serious violations like DWI (DUI) or reckless driving. Young males generally have the highest accident percentage and thus pay the highest rates.

  The example below shows the comparison of Saturn Outlook insurance costs for male and female drivers. The data is based on no violations or accidents, full physical damage coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

• High coverage deductibles lower prices – The deductibles are the amount of money you are required to spend if the claim is covered. Physical damage insurance, also called ‘full coverage’, insures against damage to your car. Some examples of covered claims could be collision with another vehicle, fire damage, or theft of your vehicle. The more damage repair cost you pay before a claim is paid (deductible), the less your company will charge you for insurance.

Here’s why car insurance is not optional

Despite the fact that car insurance is not cheap in Memphis, maintaining insurance is required in Tennessee but also provides important benefits.

• The majority of states have mandatory liability insurance requirements which means the state requires a specific minimum amount of liability in order to drive the car legally. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If your Saturn has a loan, almost every bank will make it mandatory that you have physical damage coverage to ensure they get paid if you total the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Saturn at an extremely high rate and make you pay much more than you were paying before.
• Car insurance protects not only your vehicle but also your assets. It will also reimburse you for most medical and hospital costs for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay to defend you if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.

The benefits of having insurance definitely exceed the price paid, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is currently overpaying as much as $750 every year so it’s very important to do a rate comparison at every renewal to make sure the price is not too high.

Tennessee car insurance companies ranked

Finding a highly-rated auto insurance company can be difficult considering how many different companies sell coverage in Memphis. The information in the lists below may help you choose which insurers you want to consider when comparing rates.

Top 10 Memphis Car Insurance Companies Ranked by Claims Service

1. Travelers
2. Allstate
3. Nationwide
4. State Farm
5. GEICO
6. Liberty Mutual
7. American Family
8. Esurance
9. AAA Insurance
10. Titan Insurance

Top 10 Memphis Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General