Memphis Car Insurance
Find the right car insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Paying a monthly bill for car insurance can get pretty daunting. That's a couple of hundred dollars you could've spent on a new hoverboard or the latest voice assistant (Hey Alexa, how can I get out of paying for my car insurance this month?).
The reason we feel this way is because many of us don't actually know what our car insurance covers and how we will benefit later on if something unfortunate happens with our vehicle.
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How much does Memphis car insurance cost?
A Memphis car insurance policy costs around $199 per month, on average. But not everyone pays the same amount.
Your Memphis car insurance rates are based on things like what type of car you drive, where you live and how far you drive to work or school every day.
If you are paying more than most, you may be driving a newer car or putting more miles on your car every year.
And if you think you are paying too much, it may be time to shop around. With the help of a local independent insurance agent, you can review quotes from multiple insurance companies to find coverage that fits your budget.
After weighing out your options, the average cost of Memphis car Insurance is $199 Per Month.
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What does Memphis car insurance actually do for me?
Your Memphis car insurance policy can help you pay for vehicle damage and medical bills if you cause an accident.
But in order to be sure you are protected even in a serious crash, you need to have enough coverage. The minimum coverage required by the state of Tennessee is rarely enough.
Here are the state of Tennessee's minimum requirements and just a few ways that car insurance can help you after a crash.
- Fix Your Car - We officially call this "Comprehensive & Collision Coverage." Nothing required.
- Fix Someone Else's Car - We officially call this "Property Damage Liability." Required min. $15,000.
- Pay Your Medical Bills - We officially call this "Personal Injury Protection" or "PIP." Required min. $30,000.
- Pay Someone Else's Medical Bills - We officially call this "Bodily Injury Liability." Required min. $25,000 per person, $50,000 per accident.
Who pays if the accident wasn't my fault?
The driver who caused the accident, of course. If you are hit by an uninsured driver, you have to pay for all of your own car damage and medical expenses.
20.1% of Tennessee drivers are uninsured.
That’s why it’s so important to purchase “uninsured motorist coverage.” It will pay to fix your vehicle and handle your medical bills when you cannot collect from an uninsured driver.
Some states require all drivers to purchase uninsured motorist coverage.
Tennessee has a very high percentage of uninsured drivers compared to other states, but Tennessee drivers are not required to have uninsured motorist coverage.
What Affects the Cost of Memphis Auto Insurance?
Memphis car insurance prices are affected by numerous factors. Insurance companies evaluate how risky you are as a driver by considering factors such as the following:
- Your age
- Your gender
- Your ZIP code
- Your history of accidents and claims
- The make, model and year of your car
- The number of cars and drivers in your household
Some insurance companies even look at your credit rating to determine how likely you are to get into an accident or file a claim.
You can’t control your age, gender or, to a certain extent, where you live. The best way to keep your Memphis car insurance costs down is to drive an inconspicuous, moderately priced car and maintain a clean driving record.
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Here are some city factors that will affect your rate:
Commute Time: It’s simple: The more time you spend on the road, the more likely it is that you'll be in an accident.
Memphis drivers spend less time on the road than most, which can help keep insurance rates down.
- National Average: 25.4 minutes
- Memphis Average: 20.8 minutes
Theft in your city: The rate of auto theft in Memphis is higher than in the U.S., overall. Memphis car insurance may cost more for this reason.
Even if you live in the safest neighborhood in Memphis, your car can be stolen. But a few simple deterrents — and good car insurance — can give you peace of mind.
- Never leave your vehicle running while unattended.
- Never leave your keys in your car.
- Never leave valuables visible in your car.
- Always park in busy, well-lit areas.
- Always lock your car, even at home.
If your car is stolen, be sure to report it to the police and your insurance agent right away.
Your Memphis car insurance policy can help you pay to replace your stolen vehicle quickly.
- Auto Theft Rate in U.S. (per 1,000 vehicles): 2.94
- Auto Theft Rate in Memphis (per 1,000 vehicles): 4.18
How to Find Affordable Auto Insurance in Memphis
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Our local agents will assess your risks and answer your questions. Your new agent is just a few clicks away.