It’s safe to assume that insurance companies don’t want policyholders to compare prices from other companies. Insureds who shop around are likely to buy a different policy because they have good chances of finding a lower-cost company. A recent survey discovered that drivers who shopped around annually saved over $865 annually compared to drivers who never shopped around.
If finding the most affordable insurance is your ultimate target, then having an understanding of how to quote and compare car insurance can save time and make the process easier.
It takes a little time, but the best way to find low-cost prices for auto insurance rates is to begin comparing prices regularly from providers who sell auto insurance in Memphis. You can compare prices by following these steps.
- First, spend a few minutes and learn about the different coverages in a policy and the modifications you can make to keep rates low. Many rating factors that increase rates such as careless driving and poor credit history can be controlled by making minor changes to your lifestyle.
- Second, compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO and State Farm, while agents who are independent can provide prices from many different companies.
- Third, compare the new quotes to your existing rates to see if a cheaper rate is available in Memphis. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.
A good tip to remember is that you’ll want to compare identical deductibles and limits on each quote and and to compare as many car insurance companies as possible. This helps ensure an apples-to-apples comparison and a good representation of prices.
These techniques will instruct you on the best way to buy inexpensive auto insurance and also save some money in the process If you have auto insurance now, you will definitely be able to find better prices using the tips covered below. Smart shoppers just need to learn the quickest way to compare different rates using one simple form.
Getting a low cost price on insurance is actually easier than you may think. Consumers just need to take a couple of minutes comparing price quotes from online providers.
Getting free rate quotes online is quite simple, and it takes the place of having to spend your day driving to local Memphis insurance agencies. The ability to buy insurance online has made agencies unnecessary unless you prefer the professional advice of a licensed agent. Although, it is possible obtain prices from the web but buy from a local insurance agent.
The companies shown below are ready to provide price quotes in Tennessee. If your goal is to find the best cheap auto insurance in Tennessee, it’s highly recommended you compare several of them to get a more complete price comparison.
Smart Consumers Can Save Money
Many factors are taken into consideration when you get a price on insurance. Some are obvious like your driving record, although others are less apparent such as your marital status or your vehicle rating.
The list below includes a few of the things used by your company to calculate your rate level.
- Your age impacts your rates – Older, more experienced drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and are safer drivers. Inexperience drivers are statistically shown to get distracted easily when driving with friends therefore car insurance rates are much higher.
- Driving citations inflate costs – Drivers who don’t get tickets get better prices than bad drivers. Having just one chargeable violation could increase your next policy renewal by twenty percent. Drivers who have license-revoking tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to legally drive.
- Where you reside can influence prices – Choosing to live in small towns and rural areas may provide you with better prices when buying car insurance. Less people living in that area means fewer accidents in addition to lower liability claims. Drivers who live in large Tennessee cities tend to have traffic congestion and a longer drive to work. More time commuting means more chances of being involved in an auto accident.
- Liability coverage claims can be big – The liability coverage on your policy will protect you in the event that you are determined to be liable for causing personal injury or damage in an accident. Liability provides legal defense coverage up to the limits shown on your policy. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
- Cheaper prices for prior coverage – Driving without insurance can get you a ticket and car insurance companies will penalize you for letting your coverage cancel without a new policy in place. Not only will you pay more, not being able to provide proof of insurance could result in a steep fine or even jail time.
- Do you save by driving less? – The higher the mileage driven each year the more you’ll pay to insure your vehicle. A lot of insurance companies charge to insure your cars based upon how much you drive. Vehicles used primarily for pleasure use receive lower rates as compared to vehicles used primarily for driving to work. Ask your agent if your car insurance coverage reflects how each vehicle is driven, because improper ratings can cost you money. Incorrect rating for your Aerio can cost quite a bit.
- Too many policy claims drive up prices – Auto insurance companies in Tennessee award lower rates to people who do not file claims often. If you’re an insured who likes to file claims you can look forward to increased rates or even have your policy non-renewed. Insurance coverage is intended to be relied upon for larger claims.
Car insurance protects more than just your car
Even though it can be expensive, maintaining insurance may be required for several reasons.
- Most states have mandatory liability insurance requirements which means the state requires a specific level of liability insurance coverage in order to license the 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 took out a loan on your vehicle, most lenders will require that you have insurance to guarantee their interest in the vehicle. If you let the policy lapse, the lender may insure your Suzuki at a significantly higher premium and force you to pay for it.
- Car insurance preserves both your vehicle and your assets. Insurance will also pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers legal expenses if someone files suit against you as the result of an accident. If your Suzuki gets damaged, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your car more than cancel out the cost, particularly when you have a large claim. An average driver in America is wasting up to $855 a year so it’s very important to do a rate comparison each time the policy renews to ensure rates are inline.
Tennessee car insurance companies ranked
Buying coverage from a highly-rated auto insurance company can be a challenge considering how many different companies sell coverage in Tennessee. The information in the lists below could help you pick which coverage providers you want to consider shopping prices with.
Top 10 Memphis Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- Esurance
- The General