Do you want to learn how to find more competitive Honda Accord insurance in Memphis? No one fancies paying their premiums for auto insurance, especially knowing their premiums are too high.
A recent auto insurance study discovered that the vast majority of consumers have remained with the same auto insurance company for a minimum of four years, and 38% of customers have never compared rates from other carriers. Many drivers in Memphis could save almost 35% every year just by shopping around, but most undervalue the actual amount they would save if they just switched companies. There are many insurance companies to choose from, and although it's nice to be able to choose, more options can take longer to get the best deal for Honda Accord insurance in Memphis.
Locating the best rates in Memphis is really quite simple as long as you have a good starting point. If you already have coverage or need new coverage, use these tips to get lower rates and possibly find even better coverage. Vehicle owners only have to learn the proper methods to compare price quotes from multiple carriers.
The fastest way that we advise to compare rates for Honda Accord insurance in Memphis is to know most of the bigger providers pay for the opportunity to give rate comparisons. The only thing you need to do is provide details like the ages of drivers, if you require a SR-22, how much coverage you want, and if you have an active license. The data gets sent immediately to multiple companies and you will get price comparisons within a short period of time.
To find lower cheap Honda Accord insurance rates now, click here then complete the form.
The providers in the list below can provide price comparisons in Tennessee. If multiple providers are shown, it's a good idea that you visit several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$152||$262||$236||$14||$70||$734||$61|
|Accord LX 4-Dr Sedan||$168||$314||$236||$14||$70||$802||$67|
|Accord EX 4-Dr Sedan||$136||$194||$322||$20||$96||$768||$64|
|Accord LX-P 4-Dr Sedan||$212||$424||$298||$18||$88||$1,040||$87|
|Accord LX-P 4-Dr Sedan||$158||$250||$246||$14||$74||$742||$62|
|Accord EX-L 4-Dr Sedan||$154||$290||$332||$20||$100||$896||$75|
|Accord EX 2-Dr Coupe||$284||$528||$428||$26||$128||$1,394||$116|
|Accord LX-S 2-Dr Coupe||$132||$314||$424||$26||$126||$1,022||$85|
|Accord EX-L 2-Dr Coupe||$196||$404||$424||$26||$126||$1,176||$98|
|Get Your Own Custom Quote Go|
Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Information does not factor in specific zip code location which can lower or raise prices considerably.
Premiums by gender and age
The diagram below illustrates the comparison of Honda Accord insurance premiums for male and female drivers. The rate quotes are based on no claims or violations, full physical damage coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.
Auto insurance deductibles
The diagram below shows how choosing a deductible and can affect Honda Accord insurance costs for different categories of driver ages. Data assumes a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Three good reasons to insure your Accord
Even though it can be expensive, paying for car insurance is a good idea for several reasons.
- The majority of states have mandatory liability insurance requirements which means state laws require a specific level of liability in order to drive the car. 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 Accord, it's guaranteed your bank will require that you carry insurance to guarantee their interest in the vehicle. If you default on your policy, the bank will be required to insure your Honda at an extremely high rate and require you to fork over for the expensive policy.
- Insurance protects your Honda Accord and your assets. It will also reimburse you for all forms of medical expenses that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of insuring your Accord definitely exceed the price paid, especially with large liability claims. As of last year, the average driver in Tennessee overpays more than $750 every year so compare rate quotes once a year at a minimum to make sure the price is not too high.
Lower Your Memphis Insurance Premiums
One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that aid in calculating your car insurance rates. When you know what positively or negatively controls the rates you pay, this enables you to make decisions that can earn you lower rates.
The list below includes just a few of the factors used by companies to determine your rates.
Prices can be impacted by your job - Did you know your job can affect your rates? Careers such as fire fighters, airline pilots, and financial analysts tend to pay higher premium rates in part from intense work situations and lots of time spent away from family. Other careers such as professors, historians and performers have the lowest average rates.
Raise comp and collision deductibles and save - Protection for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your Honda. Some instances where coverage would apply would be a dented fender, damage caused by hail, or theft. The deductibles tell how much you are willing to pay if a covered claim is submitted. The higher the amount you're willing to pay, the less money you will pay for car insurance.
Better car insurance rates on safer cars - Vehicles that have high safety ratings cost less to insure. Vehicles engineered for safety have better occupant injury protection and fewer injuries translates into savings for insurance companies passed on to you as lower rates. If your Honda Accord earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.
Remove unneeded incidental coverages - Insurance companies have many extra coverages that you can get tricked into buying when buying car insurance. Add-on coverages like roadside assistance, accidental death, and motor club memberships are probably not needed. These coverages may sound good initially, but your needs may have changed so remove them from your policy.
Honda Accord insurance loss probability - Insurers include the past claim history for a vehicle when they file their rates in each state. Vehicles that the data shows to have higher claim frequency or loss amount will have increased rates. The table shown below demonstrates the loss history for Honda Accord vehicles.
For each policy coverage type, the claim amount for all vehiclescombined as an average is equal to 100. Numbers below 100 imply a favorable loss record, while percentage values above 100 point to more frequent losses or an increased probability of a larger loss.
Honda Accord Insurance Claim Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda Accord Hybrid||96||80||98||89||76||84|
|Honda Accord Crosstour 4dr 2WD||85||97||83||122||113||94|
|Honda Accord Crosstour 4dr 4WD||99||102||94||120||93|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Memphis auto insurance discounts
Insurance can be prohibitively expensive, but there are discounts available that could drop your premiums quite a bit. Some of these discounts will be visible at the time of quoting, but some discounts are required to be inquired about before being credited.
- Discounts for Federal Employees - Employees or retirees of the government could cut as much as 10% off depending on your company.
- Buy New and Save - Adding a new car to your policy is cheaper because newer models keep occupants safer.
- Multiple Vehicles - Buying a policy with primary and secondary vehicles on one policy can get a discount for every vehicle.
- Mature Driver Discount - Mature drivers could receive better auto insurance rates.
- Student Discounts - Getting good grades can save 20 to 25%. Most companies allow this discount up to age 25.
Policy discounts save money, but many deductions do not apply to your bottom line cost. The majority will only reduce individual premiums such as comprehensive or collision. Just because it seems like all the discounts add up to a free policy, it's just not the way it works.
Large auto insurance companies and a summarized list of policyholder discounts are shown below.
- Farm Bureau may have discounts that include 55 and retired, safe driver, multi-policy, multi-vehicle, and good student.
- Liberty Mutual includes discounts for newly married, exclusive group savings, teen driver discount, preferred payment discount, and good student.
- State Farm may include discounts for anti-theft, good student, accident-free, passive restraint, multiple autos, Drive Safe & Save, and safe vehicle.
- Auto-Owners Insurance offers premium reductions for air bags, group or association, multiple vehicles, good student, multi-policy, paid in full, and teen driver.
- GEICO discounts include federal employee, air bags, multi-vehicle, membership and employees, seat belt use, military active duty, and emergency military deployment.
- SAFECO offers discounts for multi-car, anti-lock brakes, accident prevention training, homeowner, drive less, anti-theft, and teen safe driver.
When quoting, ask each company to give you their best rates. A few discounts may not be available in Memphis. If you would like to choose from a list of companies with discount auto insurance rates in Tennessee, click here.
Compare prices but buy from a local Memphis insurance agency
Many people would rather talk to an insurance agent and that is a smart decision Good insurance agents will help you protect your assets and give you someone to call. A good thing about comparing insurance prices online is that drivers can save money and get lower rates and still buy from a local agent.
For easy comparison, once you complete this simple form, your insurance coverage information is immediately sent to local insurance agents who can give free rate quotes for your insurance coverage. There is no reason to drive around because prices are sent instantly to you. If you want to get a price quote from a specific insurance company, just visit that company's website and fill out the quote form the provide.
Selecting an insurer shouldn't rely on just a cheap quote. Get answers to these questions too.
- What insurance companies do they recommend if they are an independent agent?
- Do they reduce claim amounts on high mileage vehicles?
- Is the agency active in community causes in Memphis?
- Do the coverages you're quoting properly cover your vehicle?
- What company holds the largest book of business for them?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Best car insurance agent in Memphis
If you want a reliable insurance agency, there are two types of insurance agents and how they can write your policy. Insurance agencies in Memphis are considered either exclusive agents or independent agents. Both can provide car insurance policies, but it's worth mentioning the difference in how they write coverage since it can impact which type of agent you select.
Agents that elect to be exclusive have only one company to place business with like Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents are unable to place coverage with different providers so you might not find the best rates. Exclusive agents are usually quite knowledgeable on their company's products which helps offset the inability to provide other markets.
Listed below is a list of exclusive insurance agents in Memphis who may provide you with comparison quotes.
Independent Car Insurance Agencies
Agents that choose to be independent often have many company appointments so they can write business with an assortment of companies and get you the best rates possible. If you want to switch companies, the agent simply finds a different carrier which makes it simple for you. When shopping rates, we highly recommend that you include independent agents to get the best comparison.
Listed below is a list of independent agencies in Memphis that can give you rate quotes.
Smart shoppers get results
Throughout this article, we presented a lot of information how to reduce Honda Accord insurance prices online in Memphis. The key thing to remember is the more times you quote, the better your chances of lowering your rates. You may even find the lowest prices come from some of the lesser-known companies. Smaller companies can often insure niche markets at a lower cost compared to the large companies like State Farm, GEICO and Nationwide.
Some insurance providers do not provide rates over the internet and these regional carriers only sell through independent agents. More affordable car insurance in Memphis can be sourced on the web and from local agencies, and you should be comparing both to have the best rate selection.
When getting Memphis auto insurance quotes online, it's a bad idea to skimp on coverage in order to save money. There have been many situations where someone sacrificed uninsured motorist or liability limits only to find out that it was a big mistake. Your goal should be to find the BEST coverage for the lowest cost and still be able to protect your assets.
More detailed car insurance information is available in the articles below:
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- How Much are Auto Insurance Rates for Real Estate Agents in Tennessee? (FAQ)
- What is the Best Auto Insurance in Oak Ridge, Tennessee? (FAQ)
- Who Has Affordable Auto Insurance Quotes for 4x4 Vehicles in Tennessee? (FAQ)
- What Auto Insurance is Cheapest for Teenagers in Tennessee? (FAQ)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- How do I File a Claim? (Insurance Information Institute)
- Auto Insurance Basics (Insurance Information Institute)