Want to learn a better way to compare more affordable Honda CR-V insurance in Memphis? Overwhelmed by the number of insurance providers in your area? Drivers have such a vast assortment of providers available that it can turn into more work than you anticipated to locate the lowest premium rates for Honda CR-V insurance in Memphis. Memphis is the perfect city to reside in, but high insurance prices makes it impossible to afford good insurance coverage.
Surprisingly, a recent survey revealed that the vast majority of insurance customers have been with the same company for at least the last four years, and approximately 40% of consumers have never quoted insurance rates at all. Drivers in Memphis can cut their rates by almost $475 a year just by shopping around, but they don't believe the big savings they would realize if they switch to a new company.
It's a good habit to check insurance prices yearly because prices are rarely the same from one policy term to another. Even if you think you had the lowest price on Honda CR-V insurance in Memphis a few years ago you will most likely find a better rate quote today. There is lot of inaccurate information about CR-V insurance out there, but I'm going to show you some solid techniques on how to put money back in your pocket.
These techniques will help educate you on how to effectively get price quotes and how to save the most money. If you're already insured, you will definitely be able to reduce premiums using the ideas you're about to read. But Tennessee car owners do need to know how the larger insurance companies calculate their prices because it can help you find the best coverage.
Companies offering competitive Honda CR-V rate quotes in Memphis, TN
The car insurance companies shown below offer comparison quotes in Tennessee. If multiple companies are shown, we recommend you compare several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$154||$286||$298||$18||$88||$844||$70|
|CR-V EX 2WD||$222||$310||$322||$20||$96||$970||$81|
|CR-V LX 4WD||$122||$206||$230||$14||$70||$642||$54|
|CR-V EX 4WD||$118||$190||$258||$16||$78||$660||$55|
|CR-V EX-L 2WD||$194||$314||$236||$14||$70||$828||$69|
|CR-V EX-L 4WD||$118||$190||$258||$16||$78||$660||$55|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Premium costs do not factor in specific location which can decrease or increase rates greatly.
Should you buy full coverage?
The illustration below illustrates the comparison of Honda CR-V auto insurance costs with full phyical damage coverage and with liability coverage only. Data assumes no claims or driving citations, $1,000 deductibles, single male driver, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no set guideline that is best for determining when to drop comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's pretend your Honda CR-V settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $4,000 after the policy deductible has been paid. If you are paying over $400 a year for comprehensive and collision coverage, then it's probably a good time to buy liability coverage only.
There are a few situations where removing full coverage is not advised. If you haven't paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Don't overlook these Honda CR-V insurance discounts
Some providers don't list every possible discount in an easy-to-find place, so the list below contains a few of the more well known and the harder-to-find discounts you could be receiving when you buy Memphis car insurance online.
- Savings for New Vehicles - Insuring a vehicle that is new can save you some money since new model year vehicles are generally safer.
- Discount for Multiple Policies - If you can combine your auto and home policy with the same insurance company you may earn approximately 10% to 15%.
- Resident Student - Kids who live away from home at college and leave their car at home may be insured at a cheaper rate.
- Auto/Life Discount - Not all auto insurance companies offer life insurance, but some may give you lower rates if you buy some life insurance in addition to your auto policy.
- Employee of Federal Government - Employees or retirees of the government may qualify for a discount when you quote Memphis car insurance with a few auto insurance companies.
- Safe Driver Discount - Drivers who don't get into accidents can pay as much as 50% less than drivers with accidents.
- Discount for Low Mileage - Low annual miles may allow you to get lower rates due to less chance of an accident.
- Defensive Driver Discount - Successfully completing a course in driver safety could cut 5% off your bill depending on where you live.
- Theft Deterrent System - Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and earn discounts up to 10% off your Memphis car insurance quote.
Please keep in mind that many deductions do not apply the the whole policy. A few only apply to individual premiums such as medical payments or collision. If you do the math and it seems like you can get free auto insurance, you aren't that lucky. Any qualifying discounts will lower your overall bill.
Some of the insurance companies that may have most of the discounts above include:
If you are trying to find cheaper Memphis car insurance quotes, ask all the companies the best way to save money. Depending on the company, some discounts may not be available everywhere. To choose providers that provide some of the discounts listed above in Memphis, follow this link.
When in doubt talk to an agent
When choosing your policy for your vehicles, there really isn't a one size fits all plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions can aid in determining whether you would benefit from an agent's advice.
- Where can I find DUI or SR-22 insurance?
- What companies insure drivers after a DUI or DWI?
- Do I have coverage when pulling a U-Haul trailer?
- Am I covered when driving a rental car?
- If my pet gets injured in an accident are they covered?
- Who does medical payments coverage extend to?
- What does PIP insurance cover?
- Can I get a multi-policy discount?
If you're not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.
Local Memphis insurance agents
Many people just want to get advice from a local agent and doing that can be a smart decision One of the benefits of getting free rate quotes online is you may find the best rates but still work with a licensed agent. Buying insurance from local agents is definitely important in Memphis.
To make it easy to find an agent, after completing this quick form, your information is transmitted to companies in Memphis who will give competitive quotes for your insurance coverage. There is no reason to search for any insurance agencies due to the fact that quote results will go to you. You can get cheaper insurance rates AND an agent nearby. If you want to compare rates from a specific insurance provider, don't hesitate to navigate to their website and submit a quote form there.
Shown below is a short list of car insurance companies in Memphis who can help you get comparison quotes for Honda CR-V insurance in Memphis.
- Michelle L Wilson - State Farm Insurance Agent
5384 Poplar Ave Ste 439 - Memphis, TN 38119 - (901) 590-1922 - View Map
- BURFORD INSURANCE AGENCY
3325 KIRBY PKWY STE 102 - Memphis, TN 38115 - (901) 507-6873 - View Map
- Allstate Insurance: Willie E. Martin
3315 Kirby Pkwy - Memphis, TN 38115 - (901) 365-2008 - View Map
- Farris Evans Insurance Agency Inc
1568 Union Ave - Memphis, TN 38104 - (901) 274-5424 - View Map
Choosing the best provider requires you to look at more than just a cheap quote. Agents should be asked these questions:
- Can you contact them at any time?
- What is the agency's Better Business Bureau rating?
- Will the agent or a CSR service your policy?
- What discounts might you be missing?
- Do they get extra compensation for selling add-on coverages?
- Are claim adjusters local or do you have to take your car somewhere else?
- Are they involved in claim handling?
- What are their preferred companies if they are an independent agency?
After getting positive feedback to any questions you have and an acceptable price quote, chances are good that you have found an insurer that will properly insure your vehicles.
Cheaper coverage is out there
When getting Memphis car insurance quotes online, don't be tempted to reduce needed coverages to save money. There have been many cases where someone sacrificed comprehensive coverage or liability limits only to regret at claim time that it was a big error on their part. Your goal is to purchase plenty of coverage at an affordable rate.
We've covered quite a bit of information on how to lower your Honda CR-V insurance premium rates in Memphis. It's most important to understand that the more providers you compare, the better your comparison will be. Consumers may even find the best price on insurance is with a smaller regional carrier. Smaller companies may cover specific market segments cheaper compared to the large companies like State Farm and Allstate.
For more information, feel free to browse these articles:
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- Car Insurance: When not to Skimp (BankRate.com)