Really, the only way to find affordable Hyundai Sonata insurance in Memphis is to compare prices at least once a year from different companies in Tennessee. Rate comparisons can be done by following these steps.
- Read and learn about how your policy works and the things you can change to prevent rate increases. Many risk factors that cause high rates such as careless driving and a substandard credit history can be controlled by paying attention to minor details.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agents can provide prices for a wide range of companies. View insurance agents
- Compare the new quotes to your current policy to see if you can save by switching companies. If you find a lower rate and switch companies, make sure coverage is continuous and does not lapse.
An important part of this process is that you’ll want to compare the same physical damage deductibles and liability limits on every price quote and and to get rate quotes from as many car insurance companies as possible. Doing this helps ensure the most accurate price comparison and maximum price selection.
Inconceivable but true, a large majority of consumers renewed their policy with the same company for over three years, and about 40% of consumers have never even shopped around for cheap coverage. American consumers can cut their rates by about $859 a year just by getting comparison quotes, but most just don’t grasp the big savings they would realize if they bought a different policy.
The companies shown below have been selected to offer free rate quotes in Memphis, TN. If multiple companies are listed, we recommend you visit several of them in order to get a fair rate comparison.
Affordable Memphis auto insurance quotes with discounts
Auto insurance is not cheap nor is it fun to buy but there could be available discounts that many consumers don’t even know exist. Many of these discounts will be applied automatically at the time of quoting, but a few must be specially asked for in order for you to get them.
- Passive Restraints – Options like air bags can qualify for discounts up to 30%.
- Pay Early and Save – By making one initial payment rather than spreading payments over time you may reduce your total bill.
- Defensive Driver – Participating in a safe driver course could earn you a small percentage discount depending on where you live.
- Multi-car Discount – Buying a policy with more than one vehicle on the same auto insurance policy may reduce the rate for each vehicle.
- Discounts for Safe Drivers – Insureds who avoid accidents could pay up to 40% less compared to accident prone drivers.
- Telematics Data – People who choose to allow their insurance company to monitor driving manner by installing a telematics device such as Snapshot from Progressive or Drivewise from Allstate could save a few bucks if their driving habits are good.
- Early Signing – A few insurance companies offer discounts for signing up before your current Sonata insurance policy expires. The savings is around 10%.
- Anti-theft System – Cars equipped with tracking devices and advanced anti-theft systems help deter theft and earn discounts up to 10% off your Memphis auto insurance quote.
Don’t be shocked that some credits don’t apply to the entire cost. Some only reduce the price of certain insurance coverages like medical payments or collision. Even though the math looks like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. But all discounts will lower your policy cost.
The chart below visualizes the comparison of Hyundai Sonata insurance costs with and without discounts applied to the policy premium. The premiums assume a female driver, no claims or driving violations, Tennessee state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, safe-driver, and homeowner discounts applied.
Large auto insurance companies and some of their more popular discounts are included below.
- Progressive offers discounts including online quote discount, homeowner, online signing, multi-vehicle, and good student.
- Farmers Insurance discounts include homeowner, business and professional, alternative fuel, distant student, teen driver, and mature driver.
- Farm Bureau has savings for youthful driver, safe driver, renewal discount, multi-vehicle, and 55 and retired.
- State Farm may include discounts for Drive Safe & Save, anti-theft, good student, safe vehicle, and student away at school.
- GEICO has discounts for anti-theft, defensive driver, multi-policy, seat belt use, multi-vehicle, federal employee, and membership and employees.
- SAFECO may have discounts that include teen safety rewards, accident prevention training, drive less, homeowner, bundle discounts, and multi-car.
- Liberty Mutual offers discounts for multi-policy, hybrid vehicle, new graduate, new move discount, and teen driver discount.
When getting free Memphis auto insurance quotes, it’s a good idea to each company or agent to give you their best rates. A few discounts may not apply to policies in your state. To find companies that can offer you the previously mentioned discounts in Memphis, click here.
Hyundai Sonata insurance charts and tables
The data table shown next highlights detailed analysis of policy rates for Hyundai Sonata models. Understanding how auto insurance prices are determined can assist in making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Sonata GLS 4-Dr Sedan | $214 | $440 | $342 | $20 | $102 | $1,118 | $93 |
| Sonata GLS 4-Dr Sedan | $214 | $440 | $342 | $20 | $102 | $1,118 | $93 |
| Sonata GLS 4-Dr Sedan | $214 | $440 | $342 | $20 | $102 | $1,118 | $93 |
| Sonata SE 4-Dr Sedan | $214 | $518 | $342 | $20 | $102 | $1,196 | $100 |
| Sonata SE 4-Dr Sedan | $214 | $518 | $342 | $20 | $102 | $1,196 | $100 |
| Sonata Limited 4-Dr Sedan | $242 | $518 | $342 | $20 | $102 | $1,224 | $102 |
| Sonata Limited 4-Dr Sedan | $242 | $518 | $342 | $20 | $102 | $1,224 | $102 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Information does not factor in specific location information which can decrease or increase coverage prices noticeably.
Physical damage deductible comparison
When buying auto insurance, a common question is how high should the physical damage deductibles be. The rates shown below highlight the cost difference of buying low and high physical damage coverage deductibles. The first price estimate table uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Sonata GLS 4-Dr Sedan | $224 | $376 | $326 | $20 | $98 | $1,069 | $89 |
| Sonata GLS 4-Dr Sedan | $224 | $376 | $326 | $20 | $98 | $1,069 | $89 |
| Sonata GLS 4-Dr Sedan | $224 | $376 | $326 | $20 | $98 | $1,069 | $89 |
| Sonata SE 4-Dr Sedan | $224 | $444 | $326 | $20 | $98 | $1,137 | $95 |
| Sonata SE 4-Dr Sedan | $224 | $444 | $326 | $20 | $98 | $1,137 | $95 |
| Sonata Limited 4-Dr Sedan | $252 | $444 | $326 | $20 | $98 | $1,165 | $97 |
| Sonata Limited 4-Dr Sedan | $252 | $444 | $326 | $20 | $98 | $1,165 | $97 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Sonata GLS 4-Dr Sedan | $182 | $304 | $326 | $20 | $98 | $930 | $78 |
| Sonata GLS 4-Dr Sedan | $182 | $304 | $326 | $20 | $98 | $930 | $78 |
| Sonata GLS 4-Dr Sedan | $182 | $304 | $326 | $20 | $98 | $930 | $78 |
| Sonata SE 4-Dr Sedan | $182 | $358 | $326 | $20 | $98 | $984 | $82 |
| Sonata SE 4-Dr Sedan | $182 | $358 | $326 | $20 | $98 | $984 | $82 |
| Sonata Limited 4-Dr Sedan | $204 | $358 | $326 | $20 | $98 | $1,006 | $84 |
| Sonata Limited 4-Dr Sedan | $204 | $358 | $326 | $20 | $98 | $1,006 | $84 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in vehicle garaging location which can affect coverage prices substantially.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you roughly $12 more each month or $144 each year across all Hyundai Sonata models than requesting the higher $500 deductible. Because you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you have at a minimum 21 months between claim filings, you would save money going with the higher deductible.
The example below demonstrates how deductible levels and can increase or decrease Hyundai Sonata insurance rates for different age categories. The information is based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.
How accidents and violations affect rates in Memphis
The diagram below shows how speeding tickets and accident claims drive up Hyundai Sonata insurance premiums for each age group. The prices are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.
Full coverage or liability only
The diagram below illustrates the difference between Hyundai Sonata insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.
When to drop comp and collision
There is no written rule that is best for determining when to drop physical damage coverage, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s say your Hyundai Sonata book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after you pay the deductible. If you are paying over $300 a year for physical damage coverage, then it might be time to consider dropping full coverage.
There are some circumstances where buying only liability insurance is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage.
Insurance agencies can find coverage gaps
Some consumers still like to sit down with an agent and that is not a bad decision Good insurance agents are very good at helping people manage risk and help in the event of a claim. A good thing about getting online price quotes is the fact that you can find lower rates and still buy from a local agent. Putting coverage with small agencies is important particularly in Memphis.
Upon completion of this short form, the coverage information gets sent to local insurance agents who can give free rate quotes for your coverage. You don’t have to contact any agents since price quotes are sent to you directly. If you have a need to get a price quote from a particular provider, just find their quoting web page and fill out the quote form the provide.
Choose the right auto insurance agent
If you are searching for a local Memphis insurance agent, it’s helpful to know the different agency structures and how they function. Agencies in Memphis are categorized either independent agents or exclusive agents depending on their employer. Either one can sell affordable auto insurance policies, but it’s a good idea to understand why they differ because it can impact your agent selection.
Independent Insurance Agents
Agents in the independent channel are not required to write business for one company and that enables them to quote your coverage with an assortment of companies and get the cheapest rates. If they quote lower rates, they simply move your policy to a different company and that require little work on your part.
When comparing auto insurance prices, you should always compare prices from several independent insurance agents to get the best comparison. Most have the option of insuring with smaller companies that many times have cheaper rates.
Featured below is a list of independent insurance agencies in Memphis that may be able to provide free auto insurance quotes.
- Lipscomb and Pitts Insurance LLC
2670 Union Ave – Memphis, TN 38112 – (901) 321-1000 – View Map - Oseman Insurance Agency
6750 Poplar Ave #410 – Memphis, TN 38138 – (901) 562-0151 – View Map - Nationwide Insurance: Clarence Mosley Jr
4132 Elvis Presley Blvd – Memphis, TN 38116 – (901) 346-2550 – View Map
Exclusive Auto Insurance Agencies
Exclusive agencies can usually just insure with one company and examples are State Farm, AAA, and Liberty Mutual. Exclusive agents are unable to compare other company’s rates so you might not find the best rates. They are well trained on their company’s products which can be an advantage. Some consumers prefer to choose to use an exclusive agent mainly due to the brand name rather than low price.
Shown below is a short list of exclusive insurance agents in Memphis that can give you price quotes.
- Barry Sanders – State Farm Insurance Agent
6060 Quince Rd – Memphis, TN 38119 – (901) 767-2001 – View Map - Derrick Hodges – State Farm Insurance Agent
7249 Winchester Rd – Memphis, TN 38125 – (901) 572-1985 – View Map - Kevin White – State Farm Insurance Agent
2861 Poplar Ave – Memphis, TN 38111 – (901) 652-8484 – View Map
Finding a good insurance agent needs to be determined by more than just the price. The following questions are important to ask.
- What are the financial ratings for the companies they represent?
- Do the coverages you’re quoting properly cover your vehicle?
- If you have an accident, will your rates go up?
- What discounts might you be missing?
- Does the agency provide any after hours assistance?
- Will the agent or a CSR service your policy?
After talking to the agent and getting answers to your satisfaction to all your questions as well as a affordable price, it’s possible that you found an insurance agent that is professional and can properly insure your vehicles. Keep in mind you have the power to cancel a policy any time you want so don’t assume you are locked into any specific company for any length of time.
Insurance is an important decision
Despite the fact that insurance is not cheap in Memphis, insuring your vehicle may be mandatory for several reasons.
- Just about all states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance coverage in order to get the vehicle licensed. 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 Hyundai has a lienholder, it’s most likely the lender will make it a condition of the loan that you have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Hyundai for a much higher rate and require you to fork over for the much more expensive policy.
- Insurance preserves not only your vehicle but also your financial assets. It will also reimburse you for medical transport and hospital expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance greatly outweigh the cost, especially if you ever need it. The average driver in America is wasting up to $865 each year so you should quote rates at every policy renewal to make sure the price is not too high.
Information about specific coverages
Knowing the specifics of your auto insurance policy aids in choosing the best coverages for your vehicles. Auto insurance terms can be ambiguous and reading a policy is terribly boring.
Comprehensive or Other Than Collision
This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as hitting a bird, a broken windshield and damage from getting keyed. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
UM/UIM Coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your Hyundai Sonata.
Due to the fact that many Tennessee drivers only purchase the least amount of liability that is required (Tennessee limits are 25/50/15), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Liability
Liability coverage provides protection from damage or injury you incur to people or other property that is your fault. 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 values of 25/50/15 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property. Occasionally you may see a combined limit which provides one coverage limit without having the split limit caps.
Liability insurance covers claims like funeral expenses, pain and suffering, medical services, loss of income and legal defense fees. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy higher limits if possible. Tennessee requires minimum liability limits of 25/50/15 but it’s recommended drivers buy better liability coverage.
The illustration below shows why buying the state minimum limits may not provide you with enough coverage.
Coverage for collisions
This coverage will pay to fix damage to your Sonata from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims such as scraping a guard rail, sustaining damage from a pot hole and rolling your car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. You can also increase the deductible on your Sonata to get cheaper collision coverage.
Medical costs insurance
Med pay and PIP coverage reimburse you for immediate expenses for rehabilitation expenses, ambulance fees and X-ray expenses. They can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants as well as getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Cheap car insurance prices are available
More affordable car insurance in Memphis can be purchased both online and from local agencies, and you should compare price quotes from both to have the best rate selection. Some insurance providers may not provide rate quotes online and usually these small, regional companies only sell through local independent agencies.
Drivers who switch companies do it for a number of reasons such as not issuing a premium refund, delays in responding to claim requests, delays in paying claims or even being labeled a high risk driver. Whatever your reason, choosing a new insurance company can be pretty painless.
When you buy Memphis auto insurance online, never sacrifice coverage to reduce premiums. In many cases, an insured dropped physical damage coverage only to regret that the few dollars in savings costed them thousands. Your aim should be to find the BEST coverage at an affordable rate, but don’t skip important coverages to save money.
For more information, link through to the resources below:
- Neck Injury FAQ (iihs.org)
- Who Has Cheap Auto Insurance for a Toyota Corolla in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Seniors? (FAQ)
- Coverage Information (Progressive Insurance)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Older Driver Statistics (Insurance Information Institute)