Cheap Insurance for a Nissan Xterra in Memphis

Do you want to save money by buying low-cost car insurance rates in Memphis, TN? Memphis consumers have options when looking for low-cost Nissan Xterra insurance. They can either spend hours struggling with agents trying to get quotes or leverage the internet to get rate quotes. There are both good and bad ways to shop for car insurance so you’re going to learn the best way to get price quotes for a Nissan and get the lowest price either online or from Memphis insurance agents.

Low cost Nissan Xterra insurance prices in Memphis

Finding a lower price on Nissan Xterra insurance can be quick and easy. Consumers just need to take the time comparing price quotes online from several insurance companies.

The following companies can provide price quotes in Tennessee. If you want cheap car insurance in Memphis, it’s a good idea that you visit as many as you can to get the best price comparison.

Why you need to buy insurance

Even though it’s not necessarily cheap to insure a Nissan in Memphis, insurance is not optional due to several reasons.

• Just about all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific level of liability 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 your Xterra has a loan, almost all lenders will require that you have full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Nissan for a much higher rate and require you to pay the higher premium.
• Insurance protects your vehicle and your assets. It will also cover medical bills for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses in the event you are sued. If mother nature or an accident damages your car, your policy will pay to have it repaired.

The benefits of insuring your Xterra more than cancel out the cost, particularly for liability claims. The average driver in Tennessee overpays more than $810 a year so you should quote your policy with other companies at every renewal to ensure rates are competitive.

Insurance rate breakdown

The information displayed below covers detailed analysis of insurance premium costs for Nissan Xterra models. Understanding more about how policy rates are determined is important for making informed coverage decisions.

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Prices do not factor in vehicle garaging location which can affect insurance rates greatly.

Policy deductibles

One of the more difficult decisions when buying car insurance is where should you set your physical damage deductibles. The data tables below may help to conceptualize the differences in price when you choose different physical damage deductibles. The first rate comparisons uses a $100 deductible and the second price chart uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Prices do not factor in Memphis location which can influence price quotes considerably.

Based on the above data, using a $100 deductible costs roughly $16 more each month or $192 a year averaged for all Xterra models than selecting the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you average more than 25 months between claims, you would save more money by selecting a higher deductible.

Do you need full coverage?

The information below illustrates the difference between Nissan Xterra car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The costs are based on no claims or driving citations, $500 deductibles, drivers are not married, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no written rule to stop paying for physical damage insurance, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your Nissan Xterra replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after you pay the deductible. If it’s costing in excess of $300 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are a few cases where removing full coverage is not recommended. If you still owe money on your vehicle, you have to keep full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage.

Discounts mean cheaper rates for Nissan Xterra insurance in Memphis

Some insurers do not advertise every discount available in a way that’s easy to find, so the list below contains both well-publicized as well as the least known credits that you can use to lower your rates.

• Senior Citizens – If you qualify as a senior citizen, you may be able to get better car insurance rates.
• ABS Braking Discount – Cars with anti-lock braking systems are much safer to drive and qualify for as much as a 10% discount.
• Pay Now and Pay Less – By paying your policy upfront instead of monthly or quarterly installments you could save up to 5%.
• Own a Home – Just owning your own home can save a few bucks since owning and maintaining a home demonstrates responsibility.
• Driver’s Education for Students – Cut your cost by having your teen driver enroll and complete driver’s education in school.
• Drive Safe and Save – Drivers without accidents can pay as much as 50% less compared to accident prone drivers.
• Military Rewards – Being deployed with a military unit could qualify you for better prices.

While discounts sound great, it’s important to understand that most discounts do not apply to the entire policy premium. Most cut the cost of specific coverages such as comprehensive or collision. So when it seems like having all the discounts means you get insurance for free, you aren’t that lucky.

The chart below shows the comparison of Nissan Xterra yearly insurance costs with and without discounts applied to the policy rates. The information is based on a male driver, no claims, a clean driving record, Tennessee state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, claim-free, marriage, multi-policy, and multi-car discounts applied.

Popular car insurance companies and some of the discounts include:

• AAA has discounts for multi-car, education and occupation, good driver, AAA membership discount, and multi-policy.
• Progressive includes discounts for continuous coverage, online quote discount, good student, multi-policy, homeowner, and online signing.
• State Farm offers premium reductions for defensive driving training, driver’s education, student away at school, good driver, Steer Clear safe driver discount, and multiple autos.
• Esurance may have discounts that include paid-in-full, safety device, multi-car, multi-policy, renters, and online quote.
• Nationwide may include discounts for anti-theft, Farm Bureau membership, accident-free, business or organization, easy pay, multi-policy, and family plan.

Double check with all companies you are considering which discounts you may be entitled to. Some discounts listed above might not be offered on policies in Memphis.

Will just any policy work for me?

When selecting coverage for your personal vehicles, there really is no “best” method to buy coverage. Everyone’s situation is unique.

Here are some questions about coverages that could help you determine whether your personal situation could use an agent’s help.

• How can I get the company to pay a claim?
• Does coverage extend to my business vehicle?
• Do I have coverage if my license is suspended?
• How do I insure my teen driver?
• At what point should I drop full coverage?
• Should I sign the liability waiver when renting a car?
• Am I covered while delivering pizza?
• Should I bundle my homeowners policy with my auto?
• Which companies will insure high-risk drivers?
• Can I make deliveries for my home business?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and may give you better protection.