Taylor got her start demystifying complicated financial topics on a personal blog. She’s since covered everything from budgeting to debt management for major outlets.
As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
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Cheapest recent rates near Memphis, Tennessee
Drivers using Insurify have found quotes as cheap as $31/mo for liability only and $88/mo for full coverage in Memphis and other Tennessee cities.
*Quotes generated for Insurify users in and around Memphis, Tennessee within the last 10 days. Last updated on April 25, 2024
Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 25, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.
*Quotes generated for Insurify users in and around Memphis, Tennessee within the last 10 days. Last updated on April 25, 2024
Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 25, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.
Situated along the Mississippi River in southwest Tennessee, Memphis is a densely populated city with a population of more than 600,000. Known as the birthplace of blues, soul, and rock n’ roll music, Memphis also draws more than 10 million tourists each year.
With so many people living and driving in close proximity, the rate of car accidents increases, which causes insurers to raise car insurance rates. The monthly average cost of car insurance in Memphis is $175 — higher than the statewide average of $127 per month and the national monthly average of $158.
Memphis is the second-largest city in the Volunteer State. A city’s population size influences how much its residents pay for car insurance.
State Farm, USAA, and GEICO are the three cheapest companies in Memphis.
Liability insurance in Memphis costs an average of $114 per month, and full coverage costs $235 per month.
3 of the cheapest car insurance companies in Memphis
The best car insurance company for you depends on your coverage needs and financial situation. The cheapest insurer may not always be the best insurer — consider factors like how often you drive and who else may be driving your vehicle.
State Farm is a good all-around insurer, offering cheap rates and a variety of discounts and coverages. USAA is the best insurance company for active military members, veterans, and their families. It offers a variety of coverages and excellent customer service. Mile Auto offers pay-as-you-drive car insurance, which is ideal for people who don’t drive frequently.
Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Full Coverage
Liability Only
Best For
State Farm
4.5
$46
$22
Cheap rates
USAA
4.5
$55
$26
Military members and families
Mile Auto
3.5
$69
$39
Low-mileage drivers
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.
Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.5
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$31/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$64/mo
State Farm offers multiple safe driver discounts to help young and experienced drivers save money on coverage. Overall, State Farm offers the most affordable liability-only and full-coverage policy options in Memphis.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.5
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$36/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$76/mo
USAA provides low rates for military service members, veterans, and their families. The company also consistently ranks highly for customer satisfaction on J.D. Power’s annual insurance survey.
Pros
SafePilot program can save good drivers up to 30% on their car insurance costs
Discounts available for customers who are deployed or storing a vehicle
Cons
Only military service members, veterans, and their family members qualify
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.5
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
NR
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$96/mo
Mile Auto calculates your car insurance rates based on how many miles you drive, and driving less often could qualify you for cheap rates. The plan works by keeping a record of your odometer readings, and being a low-mileage driver could qualify you for rates 30% to 40% lower than standard rates.
Pros
Only pay insurance for miles driven
Personalized liability coverage and add-on collision and comprehensive coverage
Cons
Pay-per-mile coverage is the only product available
Insurance companies consider many different factors when setting car insurance premiums. While not everything is within your control, below are steps you could take to land cheaper car insurance rates in the Memphis area:
Get multiple quotes. Shopping around to check rates with at least three insurance companies can help you uncover affordable insurance deals for the coverage you need.
Consider pay-per-mile insurance. If you live in a walkable or public transportation-accessible area, using your car less often and paying for insurance per mile could help you land savings.
Enroll in safe driving courses and programs. Some insurers lower your rate if you take driver courses or enroll in programs that monitor your driving habits and reward you with discounts for safe driving. If you’re a cautious driver, consider looking for insurance companies with apps that track your driving and give you perks for good driving habits
Find Car Insurance in Memphis
Liability rates start at $31 per month
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Cheapest liability-only car insurance in Memphis: State Farm
Liability-only car insurance covers property damage and bodily injury for third parties if you’re at fault in an accident. It can be a cheaper option since it doesn’t cover your own injuries or property damage.[1]
The average rate for liability-only policies in Memphis is $114 per month. Below are the cheapest car insurance companies in Memphis for liability-only coverage.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest full-coverage car insurance in Memphis: State Farm
Full-coverage car insurance is a policy that includes liability protection in addition to comprehensive and collision coverage. Collision coverage pays for car repairs (up to your limit) if you get into an accident with another car or object, while comprehensive protection covers loss caused by other events, like theft or vandalism.[1]
For full coverage, Memphis drivers pay an average of $235 per month. Below are the cheapest full-coverage options in Memphis.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Car insurance requirements in Tennessee
Tennessee drivers must have at least liability coverage that includes protection for bodily injury and property damage.[2] Here’s the minimum car insurance you need to carry:
Coverage
Minimum Requirements
Bodily injury liability
$25,000 for each injury or death per accident / $50,000 for total injuries or deaths per accident
Property damage liability
$25,000 for property damage per accident
You may want to consider carrying more than the minimum required insurance coverage if you drive frequently. Some other insurance coverages to consider include:
Collision coverage
Collision coverage reimburses you for damage to your vehicle from a collision with another vehicle or object.
Comprehensive coverage
Comprehensive coverage reimburses you for theft or damage to your vehicle due to events other than a collision, such as hail, theft, and vandalism.
Medical payments coverage
Medical payments insurance covers healthcare costs if you or your passengers are injured in an accident.
Cheapest car insurance for Memphis drivers with an incident
Incidents on your driving record can raise your insurance rates because they indicate that you’re a higher-risk driver than someone with a clean driving record. You can still find cheap car insurance with prior driving incidents on record with the right insurers.
Shop for Car Insurance in Memphis, TN
Monthly rates start at $37 for drivers with an incident
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Based on 3,806+ reviews
4.8/5
Cheapest car insurance for drivers with a speeding ticket: State Farm
How much your insurance rates increase after getting a speeding ticket can depend on how fast you were going, your history of speeding tickets, and where you were speeding. For example, speeding in a school or construction zone can result in a higher ticket and harsher repercussions than speeding in other areas.
Memphis-based drivers with a speeding ticket pay a monthly average of $330 for full coverage. Below are average monthly rates for car insurance in Memphis for drivers with speeding tickets.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest car insurance for drivers with an at-fault accident: State Farm
An at-fault accident is an accident in which you cause damage. In most cases, your insurance rates will increase when you’re at fault. But the amount your insurance rates increase can vary by insurance company and the severity of the accident.
In Memphis, the average rate for full-coverage insurance for drivers with an accident on their record is $344. Below are the cheapest insurance companies for drivers in Memphis with at-fault accidents on their records.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest car insurance for drivers with a DUI: State Farm
Drivers charged with driving under the influence (DUI) in Tennessee may pay fines, face up to 11 months in jail, and be ordered to install an ignition interlock device in their vehicle.[3] Aside from the legal ramifications of a DUI, car insurance premiums almost always increase — and in some cases, insurance companies can cancel or refuse to renew your policy altogether.
The average cost of full-coverage car insurance in Memphis for drivers with a DUI conviction is $391. If you’re shopping for insurance with a DUI, here are the cheapest options in Memphis.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
In general, rates for drivers tend to decrease around age 35 but increase around age 70. That’s because visual impairments, memory loss, and confusion can cause some seniors to get into more accidents, making older drivers a greater potential risk behind the wheel.
Memphis seniors pay an overall average of $122 per month for car insurance. Insurance rates for seniors vary by company, and below are the cheapest insurance options in Memphis.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest car insurance for teens: State Farm
Car insurance rates for teenagers and young adults typically skew much higher than for adults because teens have less experience behind the wheel, and limited driving history puts them at a higher risk for accidents.
Teen drivers in Memphis pay an overall average of $286 per month for car insurance.
But teens still have plenty of ways to save on car insurance, including:
Stay on their parents’ policy. Adding children to a parents’ policy is typically less expensive than purchasing a policy individually for a teen driver.
Apply for student discounts. Some insurance companies offergood student discountsfor students who maintain a certain GPA. Enrolling your teen in adefensive driving course isanother strategy that could help lower their rate.
Drive a safe vehicle. Teens that ride in new cars with certain safety features — like alarms or other anti-theft devices — may qualify for lower car insurance rates.[4]
Below are the cheapest insurance options for teens in the Memphis area.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
In Tennessee, insurance companies can consider your credit history during underwriting to determine your insurance rate.[5] They use your credit score along with other factors to calculate a risk score to measure your likelihood of filing a claim.
In general, insurers consider drivers with excellent or good credit lower risk, which often means better insurance rates, while drivers with poor credit often pay more for car insurance. Below are average insurance rates by credit tier in Memphis.
Rates by Credit Tier
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
Is car insurance more expensive in Memphis?
Memphis has some of the highest average car insurance costs in Tennessee, with an average monthly full-coverage rate of $175. Variables that may contribute to the high insurance rates in the city are the high reports of car thefts and car accidents in the area.[6][7] But factors like your credit and driving history can also contribute to your rates.
More cities in Tennessee
Here’s how average monthly car insurance quotes differ in other Tennessee cities compared to Memphis.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Memphis car insurance FAQs
Finding the right car insurance can be challenging. Below, you’ll find answers to some commonly asked questions about how to find the best car insurance in Memphis.
How much is car insurance in Memphis?
Car insurance in Memphis costs $175 per month, on average. Drivers pay an average of $235 per month for full-coverage car insurance and $114 per month for liability coverage. Your unique rate will depend on your insurer, age, driving record, credit history, vehicle type, chosen coverage level, and more.
Which company has the cheapest car insurance in Memphis?
State Farm has the cheapest car insurance in Memphis, with monthly liability rates as low as $31. USAA and GEICO also offer affordable coverage, with respective monthly liability rates of $36 and $40.
But the cheapest insurer for you will depend on many factors, such as your age, ZIP code, the type of car you drive, and the coverage levels you choose.
What are the best car insurance companies in Memphis?
With an Insurify Quality (IQ) Score of 4.5 out of 5 and an AM Best financial strength rating of A++ (Superior), State Farm is the best car insurance company in Memphis. Of the insurers Insurify has rate data for, other top Memphis insurers include USAA and Mile Auto.
What is the best car insurance company in Memphis for high-risk drivers?
GEICO is one of the best car insurance companies for high-risk drivers in Memphis. It offers affordable rates and has good financial stability, earning an A++ from AM Best. It can also file an SR-22 certificate on your behalf. It also offers a variety of discounts to help lower your premium, such as car safety and defensive driving course discounts.
How much car insurance do you need in Memphis?
Drivers in Memphis must carry $25,000 per person and $50,000 per accident in bodily injury liability coverage, as well as $25,000 per accident in property damage liability coverage.
Methodology
Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
Property damage limits between $10,000 and $50,000
No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
Comprehensive coverage with a $1,000 deductible
Collision coverage with a $1,000 deductible
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
Action News 5. "Over 6,000 cars stolen in Memphis in 2023."
ABC 24. "Shelby County roadways are the deadliest in the state of Tennessee."
Taylor Medine
Taylor Medine is a writer who's covered personal financial topics from budgeting and saving to paying down debt for more than eight years. She got her start demystifying intimidating money topics for the everyday consumer on a personal blog, and has since been published on Bankrate, Experian, Forbes Advisor, The Balance, Business Insider, Credit Karma, and more. Follow her on Twitter @taytalksmoney.
As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
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