Unfortunately, the vast majority of insurance customers kept their policy with the same company for more than four years, and nearly 40% of drivers have never taken the time to shop around. Many drivers in Tennessee could cut their rates by approximately $480 a year by just comparing rate quotes, but they assume it’s a waste of time to go online and compare rates.
It takes a little time, but the best way to get cheaper Volkswagen Touareg insurance in Memphis is to regularly compare price quotes from companies who sell insurance in Tennessee.
Step 1: Get an understanding of the different coverages in a policy and the changes you can make to keep rates in check. Many things that cause rate increases such as your driving record and a substandard credit score can be controlled by improving your driving habits or financial responsibility. Continue reading for more information to prevent expensive rate increases and find possible discounts that are available.
Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple companies. Compare rates now
Step 3: Compare the quotes to your current policy premium and see if there is a cheaper rate. If you find a better price and change companies, verify that coverage does not lapse between policies.
The most important part of shopping around is to make sure you enter identical coverage information on each quote and and to get rate quotes from every company you can. This enables the most accurate price comparison and and a good selection of different prices.
Save money on Volkswagen Touareg insurance in Memphis with these nine auto insurance discounts
Insuring your vehicles can cost a lot, but companies offer discounts that can dramatically reduce your bill. Certain reductions will be credited at quote time, but some discounts are required to be manually applied before they will apply.
- Paperwork-free – A few larger online companies will provide an incentive shop Memphis car insurance on your computer.
- Renewal Discounts – Some companies give discounts for buying a new policy prior to your current Touareg insurance policy expiring. It could save around 10% when you buy Memphis car insurance online.
- Save with a New Car – Insuring a new Touareg can get you a discount because new vehicles keep occupants safer.
- Passenger Safety Discount – Vehicles equipped with air bags or motorized seat belts may qualify for discounts of 20% or more.
- Senior Citizen Discount – Drivers that qualify as senior citizens can get a small decrease in premiums.
- Claim Free – Memphis drivers who stay claim-free can save substantially when compared with insureds who have frequent claims or accidents.
- Active Military Service – Having a deployed family member may lower your rates slightly.
- Homeowners Savings – Being a homeowner can earn you a little savings since home ownership is proof of financial responsibility.
- Theft Prevention Discount – Anti-theft and alarm system equipped vehicles are stolen less frequently and therefore earn up to a 10% discount.
A little disclaimer on discounts, most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though it appears it’s possible to get free car insurance, it’s just not the way it works. Any qualifying discounts will help lower your overall bill.
The diagram below visualizes the comparison of Volkswagen Touareg car insurance costs with and without discounts applied to the policy premium. The premiums assume a female driver, no accidents, no driving violations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, multi-car, claim-free, marriage, and safe-driver discounts applied.
Large auto insurance companies and their possible discounts are shown below.
- Progressive offers discounts for multi-vehicle, continuous coverage, online quote discount, good student, homeowner, and online signing.
- AAA includes discounts for education and occupation, anti-theft, good driver, pay-in-full, and good student.
- Farmers Insurance may have discounts that include early shopping, distant student, mature driver, switch companies, business and professional, bundle discounts, and pay in full.
- GEICO offers discounts including good student, multi-vehicle, five-year accident-free, emergency military deployment, seat belt use, and air bags.
- Esurance discounts include online shopper, anti-theft, DriveSense, emergency road assistance, good driver, and paid-in-full.
- SAFECO may offer discounts for bundle discounts, multi-car, teen safety rewards, drive less, safe driver, teen safe driver, and homeowner.
- State Farm has discounts for multiple autos, defensive driving training, safe vehicle, Drive Safe & Save, and anti-theft.
Before purchasing a policy, check with every company which discounts you qualify for. All car insurance discounts may not apply to policyholders in Memphis. To choose auto insurance companies with discount rates in Tennessee, click here to view.
How to compare free Memphis Volkswagen Touareg insurance quotes
When price shopping your coverage, comparing more quotes will enable you to find more affordable insurance. Not every company provides price estimates online, so it’s important to compare price quotes from the smaller companies as well.
The providers in the list below have been selected to offer price comparisons in Memphis, TN. If you want to find the best cheap auto insurance in Memphis, TN, it’s a good idea that you visit two to three different companies to get the best price comparison.
Volkswagen Touareg insurance rates and statistics
The information shown next outlines a range of insurance prices for Volkswagen Touareg models. Learning as much as possible about how auto insurance prices are determined can assist in making decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Touareg 3 Turbo Diesel AWD 4-Dr | $242 | $500 | $326 | $20 | $98 | $1,186 | $99 |
| Touareg 3.6 AWD 4-Dr | $242 | $500 | $326 | $20 | $98 | $1,186 | $99 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price information does not factor in specific garaging location which can lower or raise insurance rates significantly.
Raise deductibles and save
One of the more difficult decisions when buying insurance is which deductibles should you choose. The rates below can help illustrate the premium difference when you choose different policy deductibles. The first price estimate table uses a $100 deductible and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Touareg 3 Turbo Diesel AWD 4-Dr | $312 | $608 | $288 | $18 | $86 | $1,337 | $111 |
| Touareg 3.6 AWD 4-Dr | $312 | $608 | $288 | $18 | $86 | $1,337 | $111 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Touareg 3 Turbo Diesel AWD 4-Dr | $174 | $320 | $288 | $18 | $86 | $886 | $74 |
| Touareg 3.6 AWD 4-Dr | $174 | $320 | $288 | $18 | $86 | $886 | $74 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rates do not factor in specific zip code location which can revise insurance rates noticeably.
Using the data above, we can ascertain that using a $100 deductible could cost the average driver approximately $37 more each month or $444 a year than requesting the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average at a minimum 24 months between claim filings, you would save money if you choose the higher deductible.
Calculate savings of higher deductibles
| Average monthly premium for $100 deductibles: | $111 |
| Average monthly premium for $1,000 deductibles (subtract): | – $74 |
| Monthly savings from raising deductible: | $37 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $37 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 24 months |
Does it make sense to buy full coverage?
The example below compares Volkswagen Touareg annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims or driving citations, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
When to stop buying comprehensive and collision coverage
There is no set rule to eliminate physical damage coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s pretend your Volkswagen Touareg replacement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after paying your policy deductible. If you are paying more than $500 a year to have full coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where dropping physical damage coverage is not advised. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
How do I know if I need professional advice?
When buying your policy, there really is no cookie cutter policy. Every situation is different and your car insurance should be unique as well. For example, these questions might help in determining if you might need professional guidance.
- Am I covered if I drive in a foreign country?
- How do I insure my teen driver?
- Do I need PIP (personal injury protection) coverage in Tennessee?
- What is motorclub and do I need it?
- Do I have coverage when pulling a U-Haul trailer?
- How much cheaper are high deductibles?
- Does coverage extend to Mexico or Canada?
- What is the minimum liability in Tennessee?
- What is the premium to book value ratio for dropping full coverage?
- Do I need roadside assistance coverage?
If it’s difficult to answer those questions, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area.
What if I want to buy from local Memphis insurance agents?
Some consumers still like to sit down and talk to an agent. A nice benefit of price shopping on the web is you can get cheap car insurance rates but also keep your business local.
To find an agent, once you fill out this simple form, your insurance data is immediately sent to local insurance agents in Memphis who will give competitive quotes for your insurance coverage. There is no reason to leave your computer because quoted prices will be sent to your email. You can find better rates without requiring a lot of work. If you wish to get a comparison quote for a specific company, you just need to search and find their rate quote page and complete a quote there.
Selecting an company requires you to look at more than just the bottom line cost. Here are some questions you should ask.
- Where would your vehicle be repaired?
- Will they give you a referral list?
- What insurance company do they write the most business with?
- Is coverage determined by price?
- How much training do they have in personal risk management?
- Where are claims handled?
The difference between Memphis car insurance agents
If you’re trying to find a reputable insurance agent or broker, it’s helpful to know the different types of agencies and how they can quote your rates. Car insurance policy providers can be categorized as either exclusive or independent (non-exclusive).
Exclusive Insurance Agents
Agents that elect to be exclusive generally can only insure with one company like Allstate and State Farm. They are unable to compare other company’s rates so they have no alternatives for high prices. They are usually well trained on the products they sell and that allows them to sell at a higher price point. Consumers sometimes buy from exclusive agents primarily because of the prominent brand name rather than having the cheapest rates.
Below are Memphis exclusive agencies willing to provide comparison quotes.
- Rickey Jeans – State Farm Insurance Agent
4285 Elvis Presley Blvd – Memphis, TN 38116 – (901) 346-0300 – View Map - Deloris Burrow – State Farm Insurance Agent
3558 Hickory Hill Rd – Memphis, TN 38115 – (901) 373-8052 – View Map - Ruby Williams – State Farm Insurance Agent
3624 Austin Peay Hwy #5 – Memphis, TN 38128 – (901) 388-0000 – View Map
Independent Agencies or Brokers
Independent agencies do not sell for just one brand and that allows them to write policies with any number of different companies and find you cheaper rates. If prices rise, the agent simply finds a different carrier and you don’t have to switch agencies. If you are comparing rate quotes, you need to get quotes from several independent agencies in order to have the best price comparison. They also have the ability to place coverage with mutual insurance companies which may have better rates.
Shown below are Memphis independent agents willing to provide comparison quotes.
- AutoSave Insurance
2550 Poplar Ave – Memphis, TN 38112 – (901) 458-1630 – View Map - Clay and Land Insurance, Inc.
866 Ridgeway Loop Rd #200 – Memphis, TN 38120 – (901) 767-3600 – View Map - Nationwide Insurance: Tri-State Insurance Agency Inc
5545 Murray Ave Ste 107 – Memphis, TN 38119 – (901) 767-3379 – View Map
Auto insurance is not optional but you don’t have to overpay
Even though it’s not necessarily cheap to insure a Volkswagen in Memphis, paying for auto insurance is required in Tennessee but also provides important benefits.
- Just about all states have minimum mandated liability insurance limits which means the state requires a specific level of liability insurance coverage if you don’t want to risk a ticket. 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 bought your Touareg with a loan, it’s guaranteed your bank will require you to buy full coverage to protect their interest in the vehicle. If you do not pay your insurance premiums, the bank may buy a policy for your Volkswagen at a much higher rate and require you to pay the higher price.
- Insurance protects not only your Volkswagen but also your assets. Insurance will also pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to repair the damage.
The benefits of insuring your car definitely exceed the cost, especially when you need to use it. On average, a vehicle owner in Memphis overpays as much as $700 annually so smart consumers compare quotes at every policy renewal to ensure rates are inline.
Auto insurance coverages
Learning about specific coverages of your car insurance policy can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Below you’ll find the usual coverages found on most car insurance policies.
Comprehensive coverage (or Other than Collision)
This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things such as hitting a bird, vandalism, fire damage, a broken windshield and a tree branch falling on your vehicle. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Auto liability insurance
Liability insurance protects you from damage that occurs to other people or property by causing an accident. It protects YOU from legal claims by others, and does not provide coverage for 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. As an example, you may have liability limits of 25/50/15 that translate to a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $15,000.
Liability coverage pays for claims like medical expenses, bail bonds, attorney fees, funeral expenses and loss of income. How much liability should you purchase? That is a decision to put some thought into, but buy higher limits if possible. Tennessee state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy better liability coverage.
The chart below demonstrates why minimum state limits may not be high enough to adequately cover claims.
Collision coverage
This pays for damage to your Touareg resulting from a collision with an object or car. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against things like colliding with another moving vehicle, hitting a parking meter, colliding with a tree, driving through your garage door and sustaining damage from a pot hole. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible on your Touareg to bring the cost down.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for EMT expenses, X-ray expenses, ambulance fees and dental work. They are often utilized in addition to your health insurance plan or if you lack health insurance entirely. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. PIP coverage is not universally available and may carry a deductible
Uninsured Motorist or Underinsured Motorist insurance
This provides protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and damage to your Volkswagen Touareg.
Since a lot of drivers only carry the minimum required liability limits (25/50/15 in Tennessee), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Keep this in mind when shopping around
You just read many ideas to save on Volkswagen Touareg insurance in Memphis. The key concept to understand is the more quotes you get, the higher your chance of finding inexpensive Memphis car insurance quotes. You may even find the best premium rates are with a company that doesn’t do a lot of advertising. Some small companies can often provide lower prices in certain areas than their larger competitors like Allstate, GEICO and Progressive.
A few companies don’t offer the ability to get quotes online and these small insurance companies only sell coverage through independent insurance agents. Budget-friendly insurance in Memphis is attainable from both online companies and with local Memphis insurance agents, so compare prices from both in order to have the best price selection to choose from.
As you prepare to switch companies, do not skimp on critical coverages to save a buck or two. In many cases, someone dropped uninsured motorist or liability limits to discover at claim time that the small savings ended up costing them much more. Your goal should be to buy the best coverage you can find for the lowest price, but do not sacrifice coverage to save money.
Other resources
- Side Impact Crash Tests (iihs.org)
- Who Has the Cheapest Memphis Car Insurance Quotes for Drivers Over Age 70? (FAQ)
- Who Has Affordable Car Insurance Quotes for a Toyota Highlander in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Homeowners? (FAQ)
- Who Has the Cheapest Auto Insurance for 19 Year Olds in Memphis? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- Things to Know Before you Cancel Insurance (Allstate)
- Auto Insurance 101 (About.com)
- Keeping Children Safe in Crashes Video (iihs.org)