Do you want an efficient way to compare lower-priced car insurance rates in Memphis, TN? Memphis drivers have a choice when trying to find low-cost Mitsubishi Outlander insurance. You can either waste hours contacting agents to compare prices or use the internet to compare rates. There are both good and bad ways to compare car insurance rates and you need to know the quickest way to compare rates on a Mitsubishi and find the cheapest rates either online or from Memphis insurance agents.
Discounts mean cheaper rates for Mitsubishi Outlander insurance in Memphis
Insuring your fleet can be pricey, but there are discounts available that may help make it more affordable. A few discounts will automatically apply at quote time, but a few need to be inquired about before being credited. If you are not receiving all the discounts you qualify for, you’re just leaving money on the table.
- Own a Home and Save – Just owning your own home may trigger a policy discount on auto insurance because of the fact that having a home demonstrates responsibility.
- ABS and Traction Control Discounts – Vehicles that have anti-lock braking systems prevent accidents and will save you 10% or more on Outlander insurance in Memphis.
- Drivers Education – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education in school or through a local driver safety program.
- Driving Data Discount – Insureds who allow companies to study when and where they use their vehicle by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they exhibit good driving behavior.
- 55 and Retired – Seniors can get a small discount on rates.
- Organization Discounts – Belonging to certain professional organizations could qualify you for a break on auto insurance.
- Smart Student Discounts – A discount for being a good student can save 20 to 25%. Most companies allow this discount up until you turn 25.
As a disclaimer on discounts, many deductions do not apply to the overall cost of the policy. Most only cut the cost of specific coverages such as liability and collision coverage. Even though it appears all the discounts add up to a free policy, that’s just not realistic.
The information below shows the comparison of Mitsubishi Outlander car insurance costs with and without discounts applied. The data is based on a male driver, no claims or driving citations, Tennessee state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-policy, multi-car, homeowner, and safe-driver discounts applied.
A few companies that have some of the above discounts are:
Before you buy a policy, ask all the companies the best way to save money. Some of the earlier mentioned discounts might not be available to policyholders in Memphis. To find auto insurance companies who offer auto insurance discounts in Tennessee, follow this link.
The companies shown below can provide comparison quotes in Memphis, TN. To locate the best auto insurance in Memphis, we recommend you visit several of them to get a more complete price comparison.
Insurance rate breakdown
The rate table below outlines a range of insurance prices for Mitsubishi Outlander models. Having a better understanding of how rates are determined can help you make informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Outlander ES 2WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander SE 4WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander SE 4WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander SE 2WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander SE 2WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander ES 4WD | $138 | $236 | $246 | $14 | $74 | $708 | $59 |
| Outlander XLS 2WD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
| Outlander XLS 4WD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
| Outlander GT-S AWC 4WD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
| Outlander GT-S AWC 4WD | $156 | $278 | $246 | $14 | $74 | $768 | $64 |
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Rate information does not factor in Memphis location which can change prices noticeably.
Comparison of insurance rates by age and gender
The example below shows the difference between Mitsubishi Outlander annual premium costs for male and female drivers. The rate quotes are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are applied.
Full coverage or liability only
The diagram below illustrates the difference between Mitsubishi Outlander car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The rate quotes are based on a clean driving record, no claims, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
Are you wasting money on full coverage?
There is no exact rule to exclude physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Mitsubishi Outlander book value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after the deductible is paid. If you are paying in excess of $400 annually to have full coverage, then you might consider buying liability only.
There are some conditions where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.
What Affects Mitsubishi Outlander Insurance Rates?
The best way to find cheaper car insurance is to take a look at the rating factors that come into play when calculating car insurance rates. When you understand what determines base rates, this allows you to make educated decisions that can help you get big savings. Multiple criteria are used when premium rates are determined. Most are fairly basic such as traffic violations, but other factors are not as apparent like your continuous coverage and annual miles driven.
The following are just a few of the factors car insurance companies consider when setting rates.
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Premiums are impacted by vehicle performance – The type of car or truck you need insurance for makes a substantial difference in your premium level. Smaller low performance passenger cars usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.
The data below uses these assumptions: married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Mitsubishi Outlander policy rates compared to other models of vehicles that have different performances.
- Car insurance liability protection limits – The liability section of your policy kicks in if you are ruled to be at fault for an accident. This coverage provides legal defense which can cost thousands of dollars. Liability is cheap compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
- You might have higher premiums if you are single – Having a wife or husband may earn you lower rates when buying car insurance. Having a significant other usually means you are more mature and statistics prove drivers who are married are more cautious.
- Your career may increase rates – Jobs such as military generals, social workers, and emergency personnel are shown to have higher average rates in part from intense work requirements and lengthy work days. On the flip side, professions such as farmers, students and homemakers receive lower rates.
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Teenagers vs. older drivers – More experienced drivers are more responsible, statistically cause fewer accidents, and usually have better credit. Inexperience drivers are statistically shown to be inattentive when driving with friends so car insurance rates are higher.
The following data is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
- Never let your policy expire – Driving any period of time without insurance is illegal and any future policy may cost more because you let your insurance lapse for non-payment. In addition to paying higher rates, getting caught without coverage will get you a revoked license or a big fine.
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Avoid tickets and save – Careful drivers get better prices than bad drivers. Just one speeding ticket or other violation can bump up the cost by as much as twenty percent. Drivers who have gotten flagrant tickets like reckless driving or DUI might be required by their state to file a SR-22 with the DMV in their state in order to continue driving.
The example below shows how violations and at-fault collisions can drive up Mitsubishi Outlander insurance prices for different age groups of insureds. The data is based on a single female driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
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Mitsubishi Outlander claim probability – Auto insurance companies factor in insurance loss information to help calculate a profitable premium price. Vehicles that historically have higher losses will have higher premium rates. The table below outlines the loss history for Mitsubishi Outlander vehicles.
For each coverage type, the loss probability for all vehicles averaged together is equal to 100. Percentage values below 100 suggest a positive loss record, while values that are 100 or greater point to more frequent losses or a tendency for claims to be larger.
Mitsubishi Outlander Insurance Loss Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mitsubishi Outlander 4dr 2WD 117 104 119 155 Mitsubishi Outlander 4dr 4WD 116 93 140 115 Mitsubishi Outlander Sport 4dr 2WD 116 121 99 165 146 129 Mitsubishi Outlander Sport 4dr 4WD 109 118 123 124 139 112 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
When in doubt talk to an agent
When choosing proper insurance coverage, there isn’t really a cookie cutter policy. Every situation is different.
Here are some questions about coverages that could help you determine if your insurance needs may require specific advice.
- Do I need replacement cost coverage on my Mitsubishi Outlander?
- I don’t drive much so do I pay less?
- What is high-risk coverage and where do I buy it?
- What happens if I owe more than my Mitsubishi Outlander is worth?
- Is my Mitsubishi Outlander covered for flood damage?
- Are my custom wheels covered?
- What is roadside assistance coverage?
- Are there any extra discounts I can get?
If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an insurance agent. To find an agent in your area, take a second and complete this form. It only takes a few minutes and may give you better protection.
Local Memphis auto insurance agents
A small number of people just prefer to sit down and talk to an agent and that can be a smart move Agents are trained to spot inefficiencies and help you file claims. The best thing about comparing car insurance online is you can get lower rates but also keep your business local.
For easy comparison, once you complete this quick form, your insurance data is immediately sent to agents in your area who will give you quotes for your car insurance coverage. You won’t even need to find an agent because prices are sent instantly to you. In the event you want to get a comparison quote for a specific company, you can always visit that company’s website and fill out their quote form.
Choosing an company shouldn’t rely on just the bottom line cost. The questions below may impact your decision as well.
- Is insurance their full-time profession?
- Does the quote include credit and driving reports?
- Do they specialize in personal lines coverage in Memphis?
- What companies can they write with?
- Do they receive special compensation for putting your coverage with one company over another?
- Will your rates increase after a single accident?
When searching for a reliable agent, you must know there are a couple types of agencies that differ in how they can insure your vehicles. Insurance agencies in Memphis may be either exclusive or independent (non-exclusive). Either can handle car insurance, but it’s good to learn the subtle differences because it can influence your agent selection.
Exclusive Agencies
Agents in the exclusive channel write business for a single company and some examples include Farmers Insurance, American Family, State Farm and Allstate. These agents are unable to provide other company’s prices so they really need to provide good service. Exclusive agencies are usually well trained on the products they sell and that enables them to sell even at higher rates. Consumers sometimes buy from the same agent for years partially due to high brand loyalty rather than having low rates.
Shown below are exclusive insurance agents in Memphis who may provide you with rate quotes.
- Derrick Hodges – State Farm Insurance Agent
7249 Winchester Rd – Memphis, TN 38125 – (901) 572-1985 – View Map - Henry Hooper II – State Farm Insurance Agent
348 S Main St – Memphis, TN 38103 – (901) 575-0001 – View Map - Sylvia Walker – State Farm Insurance Agent
2900 Kirby Pkwy Ste 2 – Memphis, TN 38119 – (901) 794-8848 – View Map
Independent Agents (or Brokers)
Independent agencies are not restricted to one company so they can write business with multiple insurance companies and find you the best rates. If premiums increase, the business is moved internally which is easy for the insured.
If you need lower rates, you need to compare prices from several independent agencies to have the best price comparison. They often place coverage with less well-known companies which can save you money.
The following is a short list of independent agents in Memphis that can give you comparison quotes.
- Peterson Insurance Services, Inc.
8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777 – View Map - Nationwide Insurance: The James Agency LLC
4778 Summer Ave Ste 1 – Memphis, TN 38122 – (901) 266-5507 – View Map - Collier Insurance
606 S Mendenhall Rd #200 – Memphis, TN 38117 – (901) 529-2900 – View Map
Three reasons to not skimp on insurance
Despite the fact that insurance is not cheap in Memphis, insurance serves a purpose in several ways.
- Just about all states have mandatory liability insurance requirements which means you are required to carry specific minimum amounts of liability protection if you drive a 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 loan on your Outlander, almost all lenders will make it a condition of the loan that you buy full coverage to ensure they get paid if you total the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Mitsubishi at an extremely high rate and require you to reimburse them for it.
- Insurance protects your Mitsubishi Outlander and your assets. It will also provide coverage for medical bills for not only you but also any passengers injured in an accident. Liability coverage will also pay for a defense attorney if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having insurance definitely exceed the price paid, especially with large liability claims. The average driver in America is currently overpaying as much as $850 per year so it’s very important to do a rate comparison every year to be sure current rates are still competitive.
Find affordable car insurance rates by comparing often
We covered a lot of information how to compare Mitsubishi Outlander insurance auto insurance rates in Memphis. The key thing to remember is the more times you quote, the better chance you’ll have of finding affordable Mitsubishi Outlander insurance quotes. You may even be surprised to find that the lowest priced car insurance comes from some of the lesser-known companies.
As you prepare to switch companies, it’s very important that you do not skimp on critical coverages to save a buck or two. In many instances, an accident victim reduced collision coverage and found out when filing a claim that they should have had better coverage. Your goal should be to purchase a proper amount of coverage at the lowest possible cost, not the least amount of coverage.
Budget-friendly car insurance in Memphis can be bought online and also from your neighborhood Memphis agents, and you need to price shop both to have the best selection. Some companies may not offer rate quotes online and most of the time these small, regional companies only sell coverage through local independent agents.
How to buy lower priced Mitsubishi Outlander insurance in Memphis
The preferred way to save money on Mitsubishi Outlander insurance in Memphis is to annually compare prices from insurers in Tennessee. Price quotes can be compared by following these steps.
- Read and learn about policy coverages and the modifications you can make to keep rates down. Many things that cause rate increases like speeding tickets, careless driving and an imperfect credit score can be eliminated by being financially responsible and driving safely.
- Quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from a single company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple companies.
- Compare the price quotes to the premium of your current policy to see if a cheaper price is available. If you find a lower rate, make sure coverage is continuous and does not lapse.
- Provide notification to your current company of your intent to cancel your existing policy. Submit payment and a signed application to your new company or agent. Once received, store the certificate of insurance along with the vehicle’s registration papers.
The key thing to remember is to use the same level of coverage on every quote request and and to get quotes from all possible companies. Doing this ensures the most accurate price comparison and many rates to choose from.
More articles
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- What Insurance is Cheapest for College Graduates in Memphis? (FAQ)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Learn About Car Insurance (GEICO)
- Auto Insurance Facts and Statistics (Insurance Information Institute)