Do you want more affordable car insurance rates in Memphis, TN? Memphis buyers have lots of choices when searching for the lowest priced Lexus LC 500 insurance. They can either waste time driving around to get rate comparisons or save time using the internet to compare rates. There is a right way and a wrong way to shop for car insurance so we’re going to tell you the absolute fastest way to price shop coverage on a Lexus and locate the best price possible.
Amazingly, a recent NerdWallet.com study showed that most drivers kept their policy with the same company for more than four years, and almost half have never quoted car insurance rates at all. With the average car insurance premium being $1,400, Memphis drivers can save approximately 35% each year by just comparing rate quotes, but they don’t understand how simple it is to compare rates and save money.
If you have coverage now or are looking for a new policy, follow these tips to get lower rates and still have adequate protection. Our goal in writing this article teach you a little about how insurance works and how to save the most money. Shoppers just have to learn the fastest way to compare company rates online.
Cheap Memphis auto insurance quotes with discounts
Companies offering auto insurance do not advertise all their discounts very clearly, so the following is a list of a few of the more common and the more hidden credits available to you. If you do not double check each discount available, you are just wasting money.
- Low Mileage Discounts – Maintaining low annual mileage could earn cheaper rates.
- Multiple Vehicles – Buying insurance for several vehicles on one policy qualifies for this discount.
- Accident-Free Discounts – Memphis drivers who stay claim-free pay much less when compared with policyholders that have many claims.
- Club Memberships – Participating in a professional or civic organization could trigger savings on your bill.
- Full Payment Discount – If paying your policy premium upfront as opposed to paying monthly you can actually save on your bill.
One thing to note about discounts is that most of the big mark downs will not be given to the whole policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, nobody gets a free ride.
Larger auto insurance companies and their possible discounts are:
- Progressive has savings for online quote discount, continuous coverage, multi-policy, good student, and homeowner.
- The Hartford may offer discounts for vehicle fuel type, driver training, air bag, bundle, and defensive driver.
- Mercury Insurance has discounts for professional/association, annual mileage, location of vehicle, ease of repair, multi-policy, and low natural disaster claims.
- GEICO discounts include anti-lock brakes, membership and employees, military active duty, federal employee, and multi-vehicle.
- AAA offers discounts including good student, multi-policy, anti-theft, AAA membership discount, good driver, pay-in-full, and multi-car.
- State Farm policyholders can earn discounts including multiple policy, accident-free, anti-theft, passive restraint, and Steer Clear safe driver discount.
If you need low cost Memphis auto insurance quotes, ask every company to apply every possible discount. Some credits might not be offered on policies in your area. To see insurers with discount auto insurance rates in Memphis, click this link.
Many insurance companies like Progressive, GEICO, Allstate and State Farm provide coverage price quotes direct online. Obtaining pricing for Lexus LC 500 insurance in Memphis is quite easy as you simply enter the amount of coverage you want into a form. When the form is submitted, their quoting system sends out for your driving and credit reports and returns a price quote based on the data you entered.
Quoting online for Lexus LC 500 insurance in Memphis makes it simple to compare prices and it’s necessary to have as many quotes as possible if you are searching for cheap auto insurance pricing.
In order to compare rates now, check out the auto insurance providers below. To compare your current rates, we recommend you duplicate the insurance coverages exactly as they are listed on your policy. This ensures you’re receiving a price comparison for similar coverage.
The companies shown below have been selected to offer free quotes in Memphis, TN. To locate the best car insurance in TN, we suggest you compare several of them in order to find the most affordable rates.
Choices You Make Can Impact Your Insurance Prices
Many different elements are used in the calculation when premium rates are determined. Some are pretty understandable like a motor vehicle report, but some are less apparent such as whether you are married or your vehicle rating. Smart consumers have a good feel for the rating factors that go into determining the rates you pay for insurance. When you understand what positively or negatively impacts your premiums, this enables informed choices that will entitle you to lower premium levels.
Listed below are some of the factors insurance companies consider when setting prices.
- Proper usage rating affects prices – Driving a lot of miles annually the more you will pay for insurance. Most companies calculate rates partially by how you use the vehicle. Cars that do not get driven very much can get a lower rate than vehicles that are driven to work every day. Having an incorrect usage rating on your LC 500 is just wasting money. Make sure your insurance policy shows annual mileage, because it can save money.
- Impacts performance impacts auto insurance costs – The type of car you drive makes a substantial difference in your car insurance bill. Low performance passenger vehicles generally receive the lowest base rates, but many other things help determine your insurance rates.
- Consolidate policies to earn discounts – Some insurance companies afford lower prices for people who have multiple policies with them, otherwise known as a multi-policy discount. The amount of the discounts can be ten or even up to twenty percent in some cases. Even if you already get this discount, you may still want to compare other Memphis LC 500 insurance rates to ensure the best deal.
- High credit scores save money – An insured’s credit score is a big factor in determining what you pay for insurance. If your credit history can be improved, you may save money insuring your Lexus LC 500 if you clean up your credit. Consumers who have excellent credit tend to be better drivers and file fewer claims as compared to drivers with poor credit.
- Does your vocation cost you more? – Careers such as lawyers, air traffic controllers, and miners generally pay higher average rates because of job stress and extremely grueling work hours. Conversely, occupations such as scientists, students and performers generally pay rates lower than average.
- With age comes lower rates – Mature drivers have been proven to be more responsible, cause fewer claims and accidents, and are generally more financially stable. Young drivers are statistically proven to be inattentive and easily distracted with other occupants in the car so insurance rates are higher.
Insurance quotes from neighborhood Memphis auto insurance agents
A lot of people would prefer to get professional advice from a licensed agent and that can be a smart move Good agents are highly skilled in risk management and help submit paperwork. An additional benefit of getting free rate quotes online is that drivers can save money and get cheap insurance quotes and still buy from a local agent.
After filling out this form (opens in new window), your coverage information is instantly submitted to local insurance agents in Memphis who can give free rate quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any agents because quoted prices will be sent straight to your inbox. In the event you want to get a comparison quote from a specific insurance provider, you just need to find their quoting web page and give them your coverage information.
Choosing an insurance company shouldn’t rely on just the price. Here are some questions you might want to ask.
- Is every driver in your family covered?
- If you raise deductibles, how much can you save?
- Are they properly licensed to sell insurance in Tennessee?
- Which company do they place the most coverage with?
- Do they carry Errors and Omissions coverage?
- If your car is totaled, how to they determine the replacement cost?
Car insurance agents in Memphis come in two varieties
If you would like to find an insurance agent, you must know there are a couple different types of agencies from which to choose. Agencies in Memphis can either be independent or exclusive. Both types can provide insurance policies, but it’s important to know the subtle differences since it can affect your agent selection.
Exclusive Agencies
Exclusive agencies can only write with one company like Farmers Insurance, Allstate, or State Farm. Exclusive agents cannot provide other company’s prices so you need to shop around if the rates are high. Exclusive agents receive a lot of sales training in insurance sales which can be an advantage. Consumers sometimes use the same agent mostly because of the prominence of the brand and strong financial ratings.
Shown below are Memphis exclusive agencies who can help you get comparison quotes.
- Ulysses Cosby – State Farm Insurance Agent
248 Cooper St – Memphis, TN 38104 – (901) 276-1044 – View Map - Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map - Farmers Insurance: Calvit Ratcliffe
5865 Ridgeway Center Pkwy #300 – Memphis, TN 38120 – (901) 761-6083 – View Map
Independent Insurance Agents
These agents do not have single company limitations so they can insure your vehicles with lots of companies enabling the ability to shop coverage around. If your premiums go up, they simply move the coverage in-house and the insured can keep the same agent. If you are comparing insurance prices, you will definitely want to include several independent insurance agents to have the best price comparison. A lot of them also have access to smaller companies that many times have cheaper rates.
The following are Memphis independent agents that can give you price quotes.
- Lipscomb and Pitts Insurance LLC
2670 Union Ave – Memphis, TN 38112 – (901) 321-1000 – View Map - Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map - Smith-Berclair Insurance
855 Ridge Lake Blvd #400 – Memphis, TN 38120 – (901) 753-4323 – View Map
After talking to the agent and getting satisfactory answers for all questions you ask and cheap LC 500 insurance quotes, you may have found an auto insurance agent that meets the requirements to properly service your insurance policy.
Auto insurance is not optional
Even though Memphis LC 500 insurance rates can get expensive, paying for auto insurance is required in Tennessee but also provides important benefits.
- Most states have minimum liability requirements which means you are required to carry a specific level of liability 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 have a lien on your vehicle, almost every bank will make it a condition of the loan that you buy full coverage to guarantee payment of the loan. If the policy lapses, the lender may have to buy a policy to insure your Lexus at a significantly higher premium and make you pay a much higher amount than you were paying before.
- Insurance safeguards both your Lexus and your personal assets. It will also reimburse you for most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your car outweigh the cost, particularly for liability claims. On average, a vehicle owner in Memphis overpays as much as $810 a year so compare quotes from several companies at every policy renewal to ensure rates are competitive.
Find cheaper rates by being thorough
In this article, we presented a lot of information how to find cheaper Lexus LC 500 insurance in Memphis. It’s most important to understand that the more quotes you get, the better likelihood of getting the cheapest Lexus LC 500 rate quotes. You may even discover the best auto insurance rates are with the smaller companies.
Cheaper car insurance in Memphis can be sourced online in addition to local insurance agencies, so get free Memphis auto insurance quotes from both of them in order to have the best price selection to choose from. There are still a few companies who don’t offer online quoting and many times these smaller providers provide coverage only through independent agents.
When buying insurance coverage, you should never skimp on critical coverages to save a buck or two. In many cases, an accident victim reduced full coverage only to find out they didn’t have enough coverage. The ultimate goal is to find the BEST coverage at the lowest possible cost while still protecting your assets.
How to find affordable quotes for Lexus LC 500 insurance in Memphis
To save the most money, the best way to get discount auto insurance rates in Memphis is to start comparing prices yearly from providers in Tennessee. You can compare prices by following these guidelines.
First, gain an understanding of car insurance and the steps you can take to prevent rate increases. Many risk factors that result in higher rates such as traffic violations and a negative credit rating can be remedied by improving your driving habits or financial responsibility.
Second, quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and Allstate, while agents who are independent can provide rate quotes from multiple insurance companies. Compare rates
Third, compare the new rates to the premium of your current policy to see if cheaper LC 500 coverage is available. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
One piece of advice is to make sure you’re comparing similar coverage information on every quote and to quote with as many carriers as you can. Doing this guarantees an apples-to-apples comparison and and a good selection of different prices.
More information can be read at these links:
- Insurance Losses by Make and Model (iihs.org)
- Who Has the Cheapest Auto Insurance Rates for Handicapped Drivers in Memphis? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for a School Permit? (FAQ)
- How Much is Memphis Auto Insurance for a Company Car? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Vehicle Safety Ratings (iihs.org)