How many times have you said it's time to compare lower-priced Volvo XC60 insurance in Memphis? Overpriced car insurance in Memphis can sap your accounts, especially in this economy. Performing a rate comparison is an excellent way to reduce premiums and put more money in your pocket.
Inconceivable but true, 70% of consumers kept their policy with the same company for more than four years, and 38% of customers have never quoted car insurance rates at all. With the average premium in Tennessee being $1,376, drivers could pocket about 35% a year, but they underestimate the benefits if they bought a different policy.
With consumers having so many different company options, it's nearly impossible to find the lowest cost company.
It's smart to check car insurance prices occasionally because car insurance rates are constantly changing. Just because you found the best premium rates on Volvo XC60 insurance in Memphis six months ago there is a good chance you can find better prices now. Forget all the misinformation about car insurance because you're about to learn the tricks you need to know to reduce your cost while improving coverage.
Locating cheaper coverage in Memphis is actually quite simple. Virtually every person who is shopping for car insurance should find better rates. But Tennessee car owners do need to understand the methods companies use to market insurance on the web and use it to your advantage.
Companies offering Volvo XC60 insurance in Memphis
The auto insurance companies shown below offer quotes in Memphis, TN. If multiple providers are shown, we recommend you visit as many as you can to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC60 3.2 2WD||$202||$372||$332||$20||$100||$1,026||$86|
|XC60 3.2 AWD||$246||$432||$298||$18||$88||$1,082||$90|
|XC60 T6 AWD AWD||$242||$544||$278||$16||$84||$1,164||$97|
|XC60 T6-R AWD AWD||$228||$358||$246||$14||$74||$920||$77|
|Get Your Own Custom Quote Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Rate information does not factor in vehicle garaging location which can lower or raise premiums significantly.
Liability only or full coverage
The information below visualizes the comparison of Volvo XC60 insurance premiums with full physical damage coverage and with liability coverage only. Data assumes no accidents, no driving violations, $250 deductibles, married female driver, and no policy discounts are applied.
When to eliminate full coverage
There is no definitive rule to stop buying physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of the vehicle's replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let's say your Volvo XC60 book value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $6,000 after the policy deductible has been paid. If premiums are more than $600 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some cases where buying only liability insurance is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not opt for liability only.
Auto insurance premiums by gender
The example below shows the comparison of Volvo XC60 car insurance costs for male and female drivers. The information is based on no driving violations, no at-fault accidents, full coverage, $250 deductibles, marital status is single, and no discounts are taken into consideration.
Cautious Memphis drivers save money
The diagram below shows how speeding tickets and at-fault accidents impact Volvo XC60 annual premium costs for each different age group. The rate quotes are based on a married female driver, full coverage, $250 deductibles, and no policy discounts are applied.
These discounts can cut Volvo XC60 insurance rates
Auto insurance companies do not list all possible discounts in a way that's easy to find, so the below list has both the well known and also the lesser-known ways to save on insurance.
- Multiple Policy Discount - If you combine your home and auto policies and insure them with the same company you may earn approximately 10% to 15%.
- Low Mileage Discounts - Fewer annual miles on your Volvo could qualify for cheaper premium rates.
- More Vehicles More Savings - Buying insurance for all your vehicles on a single policy could earn a price break for each car.
- Pay Upfront and Save - By making one initial payment instead of paying each month you can actually save on your bill.
- Resident Student - Children who are attending college and do not have a car may qualify for this discount.
- Passive Restraints and Air Bags - Options like air bags or motorized seat belts may get savings of more than 20%.
- Good Grades Discount - Getting good grades could provide a savings of up to 20% or more. Most companies allow this discount until age 25.
One thing to note about discounts is that most discounts do not apply to the entire cost. A few only apply to the cost of specific coverages such as medical payments or collision. Just because you may think you can get free auto insurance, it just doesn't work that way.
To see insurance companies that offer the discounts shown above in Memphis, click here to view.
Don't assume everyone needs the same insurance coverage
When buying coverage online or from an agent, there isn't really a best way to insure your cars. Every insured's situation is different and a cookie cutter policy won't apply. For example, these questions may help you determine if your insurance needs would benefit from an agent's advice.
- Why do I have to buy liability insurance?
- How does medical payments coverage work?
- What is the rate difference between pleasure use and commuting?
- Does my policy cover me when driving someone else's vehicle?
- Can I use my car for my catering business?
- Are rock chip repairs covered?
- Can I drive in Mexico and have coverage?
- What exactly is covered by my policy?
If you're not sure about those questions but one or more may apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area.
Car insurance quotes from neighborhood Memphis auto insurance agents
A small number of people still like to go talk to an agent and that is just fine! A good thing about comparing rates online is the fact that drivers can get cheap rate quotes and still have a local agent. Buying from and supporting local agencies is important particularly in Memphis.
Once you complete this simple form, your insurance data is immediately sent to participating agents in Memphis who will return price quotes for your insurance coverage. There is no reason to leave your computer because prices are sent directly to your email. You can find better rates AND a local agent. In the event you want to get a comparison quote from a specific car insurance provider, you can always jump over to their website and fill out their quote form.
The difference between Memphis auto insurance agents
If you prefer to buy car insurance from a reliable insurance agency, it can be helpful to understand the different types of agents to choose from. Car insurance agencies can be categorized as either exclusive agents or independent agents.
Independent Insurance Agents
Independent agents are not restricted to one company and that gives them the ability to insure through many companies enabling the ability to shop coverage around. If premiums increase, the business is moved internally and the insured can keep the same agent.
When searching for an agent, we recommend you get insurance quotes from at a minimum one independent agency to have the most options to choose from.
Featured below are Memphis independent insurance agencies who can help you get price quotes.
Exclusive insurance agents write business for a single company like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot compare other company's rates so you need to shop around if the rates are high. Exclusive agencies are usually well trained on sales techniques which helps them sell insurance even at higher premiums.
Shown below are exclusive agencies in Memphis who can help you get price quotes.
Picking the best auto insurance agent should depend on more than just the bottom line cost. These are some valid questions you should ask.
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Are you getting all the discounts the company offers?
- Is auto insurance their primary focus in Memphis?
- Is their price quote a firm figure or are their hidden costs?
- What company holds the largest book of business for them?
- Does the agency have a positive business rating?
Advertising and car insurance
Respected companies like State Farm and Allstate seem to constantly run ads in print and on television. They all make the same claim that drivers will save a bundle just by switching your policy. How does every company charge less that you're paying now?
Different companies are able to cherry pick for a prospective insured that earns them a profit. For example, this type of insured could be married and over the age of 30, owns their home, and has excellent credit. Any person that fits those parameters will get the preferred rates in Memphis as well as save when switching.
Drivers who do not fit this ideal profile will be quoted a higher rate and the prospect going elsewhere. If you listen closely, the ads state "people who switch" not "all people who quote" save the amount stated. That is how insurance companies can advertise the way they do.
This really drives home the point why you really need to get Memphis car insurance quotes as often as possible. Because you never know which insurance companies will have better prices than you're paying now.
How much can you save?
While you're price shopping online, never buy lower coverage limits just to save a few bucks. Too many times, consumers will sacrifice liability limits or collision coverage and found out when filing a claim that the small savings ended up costing them much more. Your goal is to get the best coverage possible at an affordable rate, but do not sacrifice coverage to save money.
Lower-priced car insurance in Memphis is available online and from local agencies, so you need to quote Memphis car insurance with both to get a complete price analysis. Some car insurance companies do not offer online rate quotes and most of the time these smaller providers sell through independent agents.
More tips and info about car insurance is available by following these links:
- Auto Insurance Basics (Insurance Information Institute)
- What is the Cheapest Car Insurance in Smyrna, Tennessee? (FAQ)
- What Insurance is Cheapest for a Nissan Altima in Tennessee? (FAQ)
- How Much are Tennessee Car Insurance Quotes for Good Students? (FAQ)
- Child Safety Seats (Insurance Information Institute)
- State Car Insurance Guides (GEICO)
- Teen Driver Licensing Information (iihs.org)
- Prom Night Tips for Teen Drivers (State Farm)