To save the most money, the best way to find affordable quotes for Subaru BRZ insurance is to do an annual price comparison from insurance carriers in Memphis. Rate comparisons can be done by completing these steps.
First, read about how companies set rates and the things you can change to prevent expensive coverage. Many policy risk factors that result in higher prices such as traffic violations and a negative credit score can be controlled by being financially responsible and driving safely. Later in this article we will cover more details to get better rates and find missing discounts.
Second, compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can quote prices from multiple companies.
Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate quote and make a switch, make sure there is no lapse in coverage.
An essential thing to point out is to use similar deductibles and liability limits on each quote request and and to get prices from as many different insurance providers as possible. This guarantees the most accurate price comparison and the best rate selection.
It’s an obvious conclusion that car insurance companies don’t want you to look for a cheaper policy. Drivers who get comparison quotes at least once a year are very likely to switch companies because of the high probability of finding a lower-priced policy. A study discovered that drivers who compared rates regularly saved an average of $3,450 over four years compared to policyholders who never shopped around for lower prices.
If finding the cheapest price for insurance is why you’re reading this, then understanding how to compare insurance coverage can make the process less intimidating.
Informed Drivers Can Save Money
It’s important that you understand some of the elements that are used to determine the level of your policy premiums. When consumers understand what controls the rates you pay, this allows you to make educated decisions that will entitle you to much lower annual insurance costs. Lots of factors are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious like a motor vehicle report, although others are more transparent such as your credit history or your vehicle rating.
Listed below are just a few of the factors used by insurance companies to determine your rates.
Big cities have higher prices – Choosing to live in less populated areas has it’s advantages if you are looking for the lowest rates. People in densely populated areas have to deal with congested traffic and longer commutes to work. Fewer drivers and short commutes means fewer accidents and also fewer theft and vandalism claims.
How much liability insurance do you need? – Liability coverage is the coverage that protects you if you are ruled to be at fault for physical damage or personal injury to other. It provides legal defense which can cost thousands of dollars. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
How’s your driving record? – Having a clean driving record can have a huge impact on auto insurance premiums. Attentive drivers pay less for auto insurance than people who have multiple driving citations. Even a single speeding ticket or other violation can increase rates by as much as twenty percent. Drivers who get flagrant citations such as hit and run, DWI or reckless driving convictions may find they need to maintain a SR-22 with their state DMV in order to prevent a license revocation.
The more you drive the more you pay – The more miles you rack up on your Subaru annually the more you will pay for insurance. Most insurance companies calculate prices determined by how the vehicle is used. Autos left parked in the garage receive lower rates than those used for commuting. It’s a smart idea to ensure your insurance declarations sheet is rated on annual mileage. Improper usage on your BRZ can result in significantly higher rates.
Subaru BRZ claim statistics – Insurance companies use historical loss data to calculate a rate that offsets possible losses. Models that statistically have a trend towards higher claim severity or frequency will have a higher premium rate. The table below demonstrates the historical loss data for Subaru BRZ vehicles.
For each policy coverage type, the claim amount for all vehicles as a whole is considered to be 100. Values below 100 suggest a positive loss record, while values that are above 100 point to more claims or an increased chance of larger losses than average.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Subaru BRZ | 156 | 78 | 150 | 87 | 88 | 76 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How to compare free Memphis Subaru BRZ insurance quotes
Most major insurance companies give coverage price quotes direct online. Obtaining pricing for Subaru BRZ insurance in Memphis is quite easy because it’s just a matter of typing in the coverage amounts you desire as detailed in the form. Once you submit the form, their quoting system automatically orders your driving and credit reports and returns a price based on the data you entered.
This makes comparing rates easy, and it’s necessary to perform this step if you want to find a better rate.
To find out how much you’re overpaying now, check out the car insurance providers below. If you have your current policy handy, we recommend you input the coverages identical to your current policy. This makes sure you will receive a price comparison for similar insurance coverage.
The providers in the list below can provide price comparisons in Tennessee. If multiple companies are listed, we suggest you visit as many as you can to get the lowest price.
Insurance just makes sense
Despite the high cost, buying insurance is a good idea for several reasons.
- Most states have minimum liability requirements which means you are required to carry a minimum amount of liability insurance if you drive a vehicle. 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 you have a lien on your Subaru, almost every bank will force you to buy full coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Subaru for a lot more money and force you to pay for the expensive policy.
- Insurance safeguards both your vehicle and your personal assets. It will also pay for medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are sued as the result of your driving. If you have damage to your Subaru as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your BRZ outweigh the cost, especially when you need to use it. As of last year, the average driver in Tennessee is wasting up to $825 a year so it’s recommended you shop around at every renewal to ensure rates are competitive.
Insurance discounts are available to cut your rates
Companies that sell car insurance don’t necessarily list every discount very clearly, so we researched a few of the more common and the harder-to-find credits available to lower your premiums when you buy Memphis auto insurance online.
- Paperless Signup – Many larger companies will give you a small discount get Memphis auto insurance on your computer.
- Low Mileage Discounts – Keeping the miles down on your Subaru can earn better prices on cars that stay parked.
- Early Payment Discounts – If you can afford to pay the entire bill instead of monthly or quarterly installments you could save 5% or more.
- Telematics Discount – People who choose to allow their insurance company to scrutinize driving patterns by using a telematics device in their vehicle like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if they are good drivers.
- Auto/Life Discount – Companies who offer life insurance give better premium rates if you take out life insurance from them.
- Membership in Organizations – Having an affiliation with qualifying employment or professional organizations could earn you a nice discount on insurance.
- Federal Employees – Simply working for the federal government could cut as much as 10% off with select insurance companies.
- Theft Deterrent System – Vehicles equipped with anti-theft or alarm systems are stolen with less frequency and will save you 10% or more on BRZ insurance in Memphis.
- Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to take driver’s ed class if offered at their school.
- Defensive Driver Discounts – Successfully completing a defensive driver course is a good idea and can lower rates and easily pay for the cost of the class.
You can save money using discounts, but most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, you aren’t that lucky. But all discounts should help reduce your overall bill.
Some companies that may offer policyholders many of the previously listed discounts are:
- GEICO
- Mercury Insurance
- Farmers Insurance
- Auto-Owners Insurance
- Liberty Mutual
- SAFECO
- Progressive
- USAA
Before purchasing a policy, check with every company to give you their best rates. Savings might not apply in your area. If you would like to see a list of insurers that offer some of these discounts in Tennessee, click here to view.
Car insurance is available from agents near you
Many drivers still like to have an agent’s advice and that is a smart decision One of the great benefits of comparing insurance prices online is you may find cheap car insurance rates and also buy local.
For easy comparison, once you complete this quick form, your insurance coverage information gets sent to local insurance agents who want to provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact any agents because quoted prices will be sent directly to your email. You can find better rates without having to waste a lot of time. If you have a need to compare prices from a specific car insurance provider, feel free to search and find their rate quote page and give them your coverage information.
Choosing the best provider needs to be determined by more than just a cheap price quote. These are valid questions to ask:
- Does the agent have a valid license to sell insurance in Tennessee?
- Is assistance available after office hours?
- Do they receive special compensation for putting your coverage with one company over another?
- Do you work with a CSR or direct with the agent?
- Do they have cheaper tiers of coverage?
Insurance can be complex
Always keep in mind that when comparing a policy for your vehicles, there isn’t really a cookie cutter policy. You are unique.
These are some specific questions may help you determine whether you could use an agent’s help.
- What is medical payments coverage?
- When can my company non-renew my policy?
- Will my Subaru BRZ be repaired with OEM or aftermarket parts?
- Does my insurance cover damage caused when ticketed for reckless driving?
- How much liability coverage do I need in Tennessee?
- Is business equipment covered while in my vehicle?
- How do I buy GAP insurance?
- What is covered by UM/UIM coverage?
If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form.
Lower rates by being persistent
We’ve covered a lot of ways to reduce Subaru BRZ insurance auto insurance rates online in Memphis. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding low cost Memphis auto insurance quotes. Drivers may even discover the lowest priced car insurance comes from a company that doesn’t do a lot of advertising.
There are still a few companies who may not offer rate quotes online and most of the time these regional carriers provide coverage only through independent agencies. More affordable car insurance in Memphis is possible from both online companies as well as from insurance agents, and you need to comparison shop both to have the best selection.
Insureds who switch companies do it for a number of reasons such as delays in paying claims, extreme rates for teen drivers, not issuing a premium refund and even high rates after DUI convictions. Regardless of your reason, choosing a new insurance company is pretty simple and you could end up saving a buck or two.
More information can be found at the links below
- Teen Driving Statistics (iihs.org)
- Who Has Affordable Memphis Auto Insurance for College Students? (FAQ)
- What Car Insurance is Cheapest for Immigrants in Memphis? (FAQ)
- Who Has Affordable Car Insurance Quotes for Felons in Memphis? (FAQ)
- Who Has Affordable Memphis Auto Insurance for a GMC Sierra? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Memphis? (FAQ)
- Who Has Affordable Memphis Car Insurance for a Hyundai Elantra? (FAQ)
- Parking Tips to Reduce Door Dings (State Farm)
- Prepare your Teens for Safe Driving (InsureUonline.org)