High-priced insurance in Memphis can dry up your savings and force you to cut corners elsewhere. Getting a rate comparison is free and is an excellent way to lower your monthly bill.

It's hard to believe, but most consumers have stayed with the same insurance company for four years or more, and about 40% of consumers have never quoted rates to find cheap coverage. Consumers in Memphis could cut their rates by $475 a year just by comparing rates, but they just don't understand how easy it is to compare rates and save money.

Insurance companies such as State Farm and GEICO all claim big savings, bombarding you with TV and radio ads and it is challenging if not impossible to ignore the flashy ads and effectively compare rates to find the best deal.

If you have coverage now, you will surely be able to get lower rates using the ideas covered in this article. Locating the most cost-effective car insurance policy in Memphis is quite easy. Nevertheless, Tennessee consumers do need to know how the larger insurance companies calculate their prices because it varies considerably.

How to get Memphis car insurance quotes

To find inexpensive Memphis car insurance quotes, there are several ways to compare rate quotes from different Memphis insurance companies. The easiest way by far to find the cheapest insurance rates is to get quotes online.

It's so simple to compare car insurance rates online takes the place of having to waste gas driving to and from local insurance agencies. Comparing online rate quotes has made agencies unnecessary unless you require the peace of mind of a licensed agent. You can, however, compare the best prices online but have your policy serviced through an agent. It's important to know that making a lot of price comparisons will enable you to find more affordable insurance. Not every company does quotes online, so you also need to get price quotes from the smaller companies as well.

The following companies provide price quotes in Memphis, TN. If multiple companies are shown, we suggest you visit as many as you can to get the best price comparison.

Discounts can help lower rates on insurance

Insurance can be prohibitively expensive, but you might already qualify for some discounts to reduce the price significantly. Larger premium reductions will be automatically applied at the time of quoting, but a few must be inquired about before being credited.Discount insurance

Just know that most discount credits are not given to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So even though you would think all the discounts add up to a free policy, it's just not the way it works.

Insurance companies who may offer these money-saving discounts are:

Check with each company what discounts are available to you. Some discounts listed above may not apply to policyholders in every state. To see insurance companies that offer discounts in Memphis, click here.

Three reasons to not skimp on auto insurance

Despite the high cost of buying insurance in Memphis, insurance is required by state law in Tennessee and it also provides benefits you may not be aware of.

The benefits of carrying adequate insurance more than offset the price you pay, specifically if you ever have a liability claim. But the average American driver is overpaying over $810 a year so you should quote rates at least once a year to help ensure money is not being wasted.

It's not one size fits all

Always remember that when buying the best auto insurance coverage, there is no best way to insure your cars. Your needs are unique to you.Auto insurance savings

For instance, these questions can help discover whether you will benefit from professional help.

If you're not sure about those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. If you don't have a local agent, fill out this quick form.

Comparing rates from local Memphis insurance agents

A small number of people would prefer to talk to a local agent and that is a personal choice. An additional benefit of comparing auto insurance online is you can get lower rates and still have an agent to talk to.

By using this simple form, your insurance data is transmitted to participating agents in Memphis who will give you bids for your auto insurance coverage. You won't need to drive around due to the fact that quote results will go to your email. It's the lowest rates without the usual hassles of price shopping. If for some reason you want to compare prices from one company in particular, you can always visit that company's website and submit a quote form there.

Picking the best company requires you to look at more than just the bottom line cost. These are some questions your agent should answer.

If you prefer to buy auto insurance from a good Memphis insurance agent, you need to know there are two different types of agents to choose from. Agencies in Memphis can be described as either exclusive or independent agents depending on their company appointments.

Exclusive Agents

Agents that choose to be exclusive are contracted to one company and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agents cannot provide rate quotes from other companies so you need to shop around if the rates are high. Exclusive agents are well schooled on sales techniques which helps them sell on service rather than price.

Shown below are Memphis exclusive insurance agencies that are able to give comparison quotes.

4205 Hacks Cross Rd #116 - Memphis, TN 38125 - (901) 363-9217 - View Map

5865 Ridgeway Center Pkwy #300 - Memphis, TN 38120 - (901) 761-6083 - View Map

4466 Elvis Presley Blvd #247 - Memphis, TN 38116 - (901) 398-7200 - View Map

View more Memphis agents

Independent Insurance Agents

Independent insurance agents are not employed by one company so they have the ability to put coverage amongst many companies and get the cheapest rates. If they find a cheaper price, your agent can switch companies without you having to go to a different agency.

When shopping rates, you definitely need to include rate quotes from a few independent agents to get the most accurate price comparison.

Shown below are independent agencies in Memphis that can give you comparison quotes.

5724 Mt Moriah Rd - Memphis, TN 38115 - (901) 432-5551 - View Map

3325 KIRBY PKWY STE 102 - Memphis, TN 38115 - (901) 507-6873 - View Map

1850 Poplar Crest Cove Ste 102 - Memphis, TN 38119 - (901) 762-8585 - View Map

View more Memphis agents

After you get good responses to these questions and an affordable coverage quote, chances are good that you have found an insurance agency that is reputable and can properly service your auto insurance policy.

Insurance losses by coverage

Are you driving a vehicle that ranks high in claims? The statistics below show the highest and lowest vehicle models for the overall chance of having large claims orgainized by coverage.

Comprehensive Claims by Vehicle Make and Model
Lowest Claim Amount Highest Claim Amount
Nissan Leaf Maserati Quattroporte
Nissan Xterra Mercedes-Benz S Class
Chevy Silverado 2500 Maserati Granturismo
Chevy Spark Bentley Continental GT
GMC Sierra 2500 BMW M6
Infiniti QX50 BMW M6

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Car Insurance Medical Payment Claims by Vehicle
Lowest Claim Amount Highest Claim Amount
Chevrolet Corvette Mitsubishi Mirage
Ford Expedition Chevrolet Sonic
Ford F-250 SuperCrew Hyundai Accent
Ford F-350 SuperCrew Mitsubishi Lancer
Chevrolet Silverado 3500 Nissan Sentra
Chevrolet Silverado 2500 Dodge Charger

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Vehicles with the Lowest and Highest Car Insurance Liability Claims
Lowest Claim Amount Highest Claim Amount
Subaru Outback Kia Rio
Acura MDX Mitsubishi Mirage
Mercedes-Benz SL Class Hyndai Accent
Audi A6 Mitsubishi Lancer
Subaru Forester Dodge Charger
Volvo XC60 Chevrolet Sonic

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Vehicles with the Lowest and Highest Car Insurance Collision Claims
Lowest Claim Amount Highest Claim Amount
Smart ForTwo Ferrari 458
Ford Edge BMW M6
Jeep Wrangler Audi RS7
Nissan Xterra Nissan GT-R
Ford F-150 SuperCrew Maserati Granturismo
Chevrolet Colorado Bentley Continental Flying Spur

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years