Do you want to learn to get more affordable Toyota Corolla insurance in Memphis? Shopping for budget Memphis Toyota Corolla insurance quotes online can be somewhat intimidating for people not familiar with price shopping online. When there are so many companies in the marketplace, how can you be able to compare every car insurance company to find the best pricing?
Surprisingly, a recent survey revealed that the vast majority of drivers kept buying from the same company for four years or more, and 38% of drivers have never taken the time to shop around. Tennessee drivers can cut their rates by almost $475 a year, but they don't believe how much they could save if they bought a different policy.
It's important to compare rates as often as possible since prices are constantly changing. Even if you got the best quotes on Toyota Corolla insurance in Memphis a few years ago you may be paying too much now. Ignore everything you know about car insurance because we're going to demonstrate the tricks you need to know to find great coverage at a great price.
Comparing quotes for affordable coverage in Memphis is not as hard as you think. Basically, everyone who is shopping for insurance will more than likely be able to cut their insurance bill. But Tennessee drivers should learn the way insurance companies market insurance on the web because rates fluctuate considerably.
When comparison shopping, comparing more prices provides better odds of finding better pricing. Some smaller insurers do not give online price quotes, so it's recommended that you also compare price estimates from them as well.
The companies shown below are ready to provide free quotes in Memphis, TN. If multiple companies are listed, we suggest you visit two to three different companies to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Price estimates do not factor in zip code location which can lower or raise price quotes greatly.
Gender-based auto insurance premiums in Memphis
The information below shows the comparison of Toyota Corolla car insurance costs for male and female drivers. Data assumes no claims or driving citations, full coverage, $500 deductibles, drivers are single, and no other discounts are factored in.
Cheaper Toyota Corolla insurance in Memphis
Companies offering auto insurance don't list all their discounts very clearly, so the list below details a few of the more common and the more hidden credits that you can use to lower your rates. If you're not getting every credit possible, you are paying more than you should be.
- Payment Discounts - If paying your policy premium upfront rather than paying monthly you may reduce your total bill.
- Driver Safety - Taking a defensive driver class could cut 5% off your bill depending on where you live.
- Data Collection Discounts - Policyholders that allow their insurance company to spy on driving patterns by using a telematics device like In-Drive from State Farm and Progressive's Snapshot might see lower rates if they exhibit good driving behavior.
- Paperwork-free - Some of the larger companies will discount your bill up to fifty bucks shop Memphis auto insurance online.
- Anti-lock Brake Discount - Cars, trucks, and SUVs with ABS braking systems or traction control are safer to drive and the ABS can save up to 10%.
- Smart Student Discounts - Excelling in school can get you a discount of up to 25%. Many companies even apply the discount to college students well after school through age 25.
Keep in mind that some credits don't apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as comprehensive or collision. Even though the math looks like it's possible to get free car insurance, you aren't that lucky. Any amount of discount will cut your overall bill.
A few of the larger companies and some of their more popular discounts are:
- GEICO discounts include driver training, good student, defensive driver, military active duty, and anti-theft.
- Travelers may have discounts that include home ownership, IntelliDrive, driver training, save driver, hybrid/electric vehicle, multi-car, and payment discounts.
- Nationwide may include discounts for family plan, easy pay, defensive driving, multi-policy, business or organization, anti-theft, and Farm Bureau membership.
- Farmers Insurance offers discounts including teen driver, electronic funds transfer, mature driver, pay in full, early shopping, homeowner, and business and professional.
- Esurance has discounts for DriveSense, multi-car, multi-policy, online quote, good driver, and good student.
- State Farm includes discounts for anti-theft, Steer Clear safe driver discount, passive restraint, good driver, and safe vehicle.
- Progressive offers premium reductions for continuous coverage, online quote discount, multi-policy, homeowner, multi-vehicle, and online signing.
- Mercury Insurance offers discounts for age of vehicle, anti-theft, good driver, good student, multi-car, type of vehicle, and annual mileage.
Double check with every prospective company which discounts they offer. Some discounts listed above might not be offered in Memphis.
Protect your Corolla and other assets
Even though it can be expensive, buying insurance is a good idea for several reasons.
- The majority of states have mandatory liability insurance requirements which means the state requires a specific minimum amount of liability insurance 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 you bought your Corolla with a loan, most lenders will force you to buy insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Toyota for a much higher rate and require you to pay the higher premium.
- Insurance preserves not only your Toyota but also your assets. Insurance will also pay for medical bills for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, also covers legal expenses in the event you are sued. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your Corolla more than offset the price you pay, especially with large liability claims. In a recent study of 1,000 drivers, the average customer overpays as much as $700 annually so we recommend shopping around once a year at a minimum to save money.
Compare rates but buy from a local neighborhood Memphis car insurance agent
Certain consumers would prefer to talk to a local agent and doing that can be a smart decision A good thing about comparing insurance prices online is that drivers can save money and get cheap rate quotes but still work with a licensed agent. And buying from local insurance agents is especially important in Memphis.
After completing this form (opens in new window), your coverage information gets sent to participating agents in Memphis that can give you free Memphis auto insurance quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to contact any agents because quoted prices will be sent immediately to your email address. You can get cheaper car insurance rates and an insurance agent to talk to. If you want to compare rates from a specific insurance company, don't hesitate to visit that company's website and fill out the quote form the provide.
Compare rates from both independent and exclusive car insurance agents
If you prefer to buy car insurance from a reputable insurance agent or broker, there are two different types of agencies to choose from. Car insurance agents are classified as either independent agents or exclusive agents.
Independent Agents (or Brokers)
Independent agencies are not employed by one company so they can write business amongst many companies depending on which coverage is best. If they find a cheaper price, they can switch companies in-house and the insured can keep the same agent.
When comparing rate quotes, we recommend you get some free quotes from multiple independent agents so that you have a good selection of quotes to compare. Most have the option of insuring with smaller mutual companies that may have much lower rates than larger companies.
Below is a list of independent agencies in Memphis who may provide price quote information.
- Nationwide Insurance: Tri-State Insurance Agency Inc
5545 Murray Ave Ste 107 - Memphis, TN 38119 - (901) 767-3379 - View Map
- Boyle Insurance Agency, Inc.
5900 Poplar Ave - Memphis, TN 38119 - (901) 766-0200 - View Map
- AutoSave Insurance
2550 Poplar Ave - Memphis, TN 38112 - (901) 458-1630 - View Map
Exclusive Car Insurance Agents
Exclusive agencies can only provide pricing for a single company such as Farmers Insurance, Allstate, or State Farm. These agents are unable to provide other company's prices so they have to upsell other benefits. Exclusive agents are highly trained on what they offer which helps overcome the inability to quote other rates. Some people will only buy insurance from these agents primarily because of high brand loyalty rather than having low rates.
Below are Memphis exclusive insurance agents who can help you get comparison quotes.
- Allstate Insurance: Willie E. Martin
3315 Kirby Pkwy - Memphis, TN 38115 - (901) 365-2008 - View Map
- Allstate Insurance: Don Rogers
5812 Winchester Rd - Memphis, TN 38115 - (901) 794-3771 - View Map
- Kevin White - State Farm Insurance Agent
2861 Poplar Ave - Memphis, TN 38111 - (901) 652-8484 - View Map
Choosing the best car insurance agent requires more thought than just a cheap quote. The answers to these questions are important, too.
- Is vehicle damage repaired with OEM or aftermarket parts?
- Who are their largest clients?
- Is the agency involved in supporting local community causes?
- Are they primarily personal or commercial lines agents in Memphis?
- Will high miles depreciate repair valuations?
- Who is covered by the car insurance policy?
- Do they have designations such as AIC, CPCU, or CIC?
If you get good responses to these questions as well as offering an affordable quote, you may have just found an insurance agent that is reliable enough to service your policy. But remember, it's your coverage and you can cancel your policy whenever you want so don't assume that you are obligated to a policy for a certain time period.
Information about specific coverages
Having a good grasp of your auto insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.
Medical costs insurance - Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses like prosthetic devices, rehabilitation expenses, doctor visits, X-ray expenses and ambulance fees. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Liability coverages - This coverage can cover injuries or damage you cause to other people or property by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/15 that means you have a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $15,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.
Liability insurance covers claims such as bail bonds, attorney fees and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible. Tennessee state minimum liability requirements are 25/50/15 but drivers should carry more liability than the minimum.
UM/UIM Coverage - Uninsured or Underinsured Motorist coverage provides protection when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Toyota Corolla.
Since many Tennessee drivers only purchase the least amount of liability that is required (which is 25/50/15), their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally these coverages are similar to your liability insurance amounts.
Comprehensive or Other Than Collision - Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like rock chips in glass, fire damage and hitting a bird. The maximum amount you'll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it's probably time to drop comprehensive insurance.
Collision coverage - This pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision insurance covers things such as hitting a parking meter, sustaining damage from a pot hole, colliding with another moving vehicle and colliding with a tree. This coverage can be expensive, so consider removing coverage from lower value vehicles. You can also choose a higher deductible on your Corolla to save money on collision insurance.