The car, truck, or SUV requiring insurance is a large factor that determines if you can find low-cost coverage for hybrid vehicles. Vehicles with lots of speed or power, a lack of modern safety features, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models. The next list shows car insurance rates for the most economical vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,497 |
| Ford Focus S 4-Dr Sedan | $1,739 |
| Honda CR-V EX 4WD | $1,756 |
| Chevrolet Impala LT | $1,772 |
| Ford F-150 Lariat Crew Cab 4WD | $1,809 |
| Dodge Grand Caravan Crew | $1,816 |
| Honda Accord EX 4-Dr Sedan | $1,836 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,900 |
| Toyota Prius | $1,909 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,903 |
| Jeep Grand Cherokee Limited 4WD | $1,911 |
| Dodge Ram Crew Cab SLT 2WD | $1,936 |
| Ford F-350 XL Super Cab Turbo Diesel 2WD | $1,970 |
| Chevrolet Silverado Crew Cab Hybrid 2WD | $1,995 |
| Ford Edge SEL 2WD | $2,005 |
| Toyota RAV4 Sport 4WD | $2,031 |
| Chevrolet Malibu LS | $2,041 |
| GMC Sierra SLE Crew Cab 2WD | $2,031 |
| Chevrolet Equinox LS AWD | $2,038 |
| Dodge Ram 3500 Crew Cab SLT 2WD | $2,061 |
| Ford Explorer Limited AWD | $2,070 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,100 |
| Nissan Rogue S 2WD | $2,178 |
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate information does not factor in vehicle location which can modify price quotes considerably.
Based upon the table data, vehicles like the Ford Escape, Ford Focus, Honda CR-V, and Chevrolet Impala are most likely to be a few of the most affordable vehicles to insure for hybrids.
For hybrids, one of the more important considerations that are used to help calculate car insurance rates is where you live in Memphis. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of cheap car insurance rates.
The illustration below ranks the highest-priced areas in Tennessee for hybrid vehicles in which to purchase auto insurance. Memphis comes in at #1 with a yearly premium of $1,446 for the average insured, which is around $121 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Memphis | $1,446 |
| 2 | Bartlett | $1,419 |
| 3 | Collierville | $1,363 |
| 4 | Germantown | $1,360 |
| 5 | Jackson | $1,253 |
| 6 | Oak Ridge | $1,223 |
| 7 | Nashville | $1,213 |
| 8 | Maryville | $1,208 |
| 9 | Clarksville | $1,194 |
| 10 | Columbia | $1,190 |
| 11 | La Vergne | $1,186 |
| 12 | Knoxville | $1,182 |
| 13 | Cookeville | $1,171 |
| 14 | Smyrna | $1,159 |
| 15 | Spring Hill | $1,157 |
| 16 | Chattanooga | $1,149 |
| 17 | Murfreesboro | $1,148 |
| 18 | Brentwood | $1,133 |
| 19 | Gallatin | $1,133 |
| 20 | Franklin | $1,129 |
| 21 | Morristown | $1,125 |
| 22 | Cleveland | $1,124 |
| 23 | Hendersonville | $1,124 |
| 24 | Kingsport | $1,068 |
| 25 | Johnson City | $1,063 |
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Rate quotes are comparative as the specific zip code location can lower or raise premium rates significantly.
Impact of citations and accidents on Memphis insurance rates
The best way to enjoy the best insurance rates in Tennessee for hybrids is to pay attention while driving and maintain a clean driving record. The chart below highlights how speeding tickets and accident claims can increase annual premium costs for different age groups. The price estimates are based on a single male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
In the example above, the average cost of a car insurance policy in Tennessee per year with a clean driving record and no accidents is $1,521. Receive one speeding ticket and the average cost swells to $1,713, an increase of $192 each year. Now include one accident along with the one speeding ticket and the annual cost of insurance for hybrid vehicles goes up to an average of $2,250. That’s an increase of $729, or $61 per month, just for not being a responsible driver!
Ending up with the best auto insurance company can be difficult considering how many choices there are in Tennessee. The company rank data shown below may help you analyze which coverage providers you want to consider when looking for cheaper rates.
The ratings below only include companies with a national presence, so companies without a large exposure are not factored into this list. If you wish to compare rates from the insurers below and more, click this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
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Data Source: Insure.com Best Car Insurance Companies
The benefits of price comparisons
Memphis insurance rates are calculated based on many things which can substantially change the cost of coverage. Simply turning a year older, marrying your spouse, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being cheaper than competitors. And not only may your rating factors change, but companies change rates multiple times each year as an adjustment for underwriting gains or losses. Higher than normal claims may result in higher rates, while a lower level of claims may result in lower-priced Memphis car insurance rates.
The bar chart below shows rates for the cheapest car insurance in Memphis, TN for a 30-year-old male driver with no accidents or violations, and great credit. If we estimate prices based on his personal profile, Utica National has the most affordable car insurance rates in Memphis at $1,065 annually. This is $263 less than the average rate paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA are the remainder of the cheapest Memphis, TN auto insurance companies.
Now we will give the driver in the first example a claim or two, a little lower credit rating, and a stop sign violation. Since each auto insurer has a different process for determining prices, analyzing rate quotes may now show a new list of the cheapest car insurance companies in Memphis as shown below.
Erie now has the cheapest auto insurance in Memphis with Nationwide, Allied, Westfield, and GEICO now rounding out the top five. This shows why it is so important to compare as many rates as possible when trying to get the lowest car insurance rates for hybrid vehicles.
Insurance rates consist of many factors and can change substantially, so the cheapest rate a year ago may now be quite expensive.