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Playing it safe while driving—even when you see a semi-celebrity—is important. Just as important is doing a double-take to be sure you always have the right kind of insurance with you while riding the bluesy backroads of this famous town.
The average cost of Tennessee car insurance will vary from city to city and between insurance companies. Insurify analyzed the latest insurance rates in Memphis, TN to find you the cheapest quotes in the area.
Here are the cheapest carriers in Memphis for the following user profile: a single, 30 year old male with a clean driving record who drives a 2012 Honda Accord and pays a $1,000 deductible for the state’s minimum liability insurance.
| Cheapest Companies | Quotes |
|---|---|
 State Farm | $104/mo |
 Allstate | $114/mo |
 Direct Auto | $203/mo |
 The General | $216/mo |
| Best Companies | Quotes | |
|---|---|---|
 American Family | $175/mo | |
 Nationwide | $264/mo | |
 Safeco | $196/mo | |
 Liberty Mutual | $291/mo | |
 Travelers | $179/mo |
Tennessee Cities | |
|---|---|
| Knoxville | $112/mo |
| Chattanooga | $125/mo |
| Clarksville | $120/mo |
| Murfreesboro | $125/mo |
| Memphis | $159/mo |
| Tennessee | $128/mo |
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All motor vehicles operated or parked on Tennessee roadways are required to be insured. The minimum liability car insurance requirements for private passenger vehicles in Tennessee are as follows:
Bodily injury liability coverage protects drivers if their car is involved in an accident that harms another individual. The minimum limits required by Tennessee state law are $30,000 for the death or injury of a single victim as a result of a car accident and $60,000 for the deaths or injuries of multiple victims. Insurance companies list this type of coverage as 30/60, referring to the dollar limitations of each minimum. If you’re in an accident, liability coverage will cover the cost of a legal proceeding as a result of a crash. Bodily injury coverage is part of the minimum coverage required by Tennessee law.
The state minimum amount of property damage liability coverge required in the state of Tennessee is $15,000. If an insured driver is determined to be at fault and held liable in a motor vehicle accident, this coverage pays for damage repair to another individual’s property. Property damage coverage will also pay for legal costs if an insured driver is involved in a lawsuit following an accident.
While younger motorists may enjoy Memphis’s up-all-night music scene, the benefits of being an older driver here are clear. Because younger drivers statistically make more driving mistakes, they pay more in insurance premiums monthly than those their grandparents’ age and older. In Memphis, drivers in their 60s pay an average of 72 percent less for car insurance than those in their 20s. Not to worry. By the time they hit their 30s, these same 20-year-olds who are now paying an average of $279 per month for insurance will see their rates drop to an average of just $233.
| Driver's Age | Avg. Monthly Cost |
|---|---|
| teens | $404 |
| 20s | $280 |
| 30s | $234 |
| 40s | $241 |
| 50s | $191 |
| 60s | $163 |
| 70s | $185 |
| 80s | $209 |
| Driving History | Avg. Monthly Cost |
|---|---|
| No Violation | $229 |
| Speeding Ticket | $280 |
| At-Fault Accident | $313 |
| Failure to Stop for Red Light / Stop Sign | $289 |
Your driving record has a lot to do with how much you pay in car insurance because it helps represent your risk. A clean driving record in Memphis reflects good judgment and means that (at least for now) you aren’t burdening the car insurance company with any claims. But once you make a driving mistake, your risk and policy payment are likely to increase. For example, clean-record drivers pay an average of $228 in monthly insurance premiums. In comparison, those whose record is marred by an at-fault accident can expect to pay an average of $84 more monthly.
It seems like everyone is keeping score these days, even car insurance companies. They calculate how much you’ll pay partly by using your auto insurance score. This score is based on your credit rating and reveals to the insurer the amount of risk you carry. If you haven’t paid attention to your credit history, getting a better car insurance rate may be one reason to look into things. If you have an excellent credit score in Memphis, you can expect your insurance policy to top out at an average of $200 monthly. Those with a poor score pay almost $70 more monthly, at an average of $269.
| Credit Tie | Avg. Monthly Cost |
|---|---|
| Excellent | $201 |
| Good | $228 |
| Average | $241 |
| Poor | $270 |
Have a few minutes at lunch to renew your driver’s license? In Memphis, you can actually go online and keep track of the wait times at area DMVs. However, like most cities, it’s recommended you get an appointment to make the best use of your time. If you are looking for REAL ID services in Memphis, a new program was just rolled out that allows you to go online and virtually save your place at a DMV by selecting an e-ticket. If you are in need of tags, county clerks across the state are responsible for taking care of those transactions. Although there are seven county clerk branch offices, the fastest way to take care of a registration renewal in Memphis is online.
No car? No problem. Here in Memphis there’s a lot of other ways to get around. The MATA (Memphis Area Transit Authority) bus system covers over 300 square miles and can get you nearly anywhere in the city. Besides ridesharing and traditional taxi services, don’t forget to take advantage of some of the free tour buses set up to take travelers to top music and other tourist destinations, including Graceland, Sun Studio, and common restaurant routes. And there’s all sorts of bike action going on, with several different bikeshare programs to choose from throughout a city that was named America’s Most Improved Bicycle City by Bicycling magazine.
There are actually over 44 Elvis impersonators…ahem…Tribute Artists listed in Memphis. That’s a lot of personalities to go through to get the best one for your gig.
If you’ve ever thought about comparing insurance companies, you probably know that there are hundreds to choose from—way too many to just pick up the phone and call. Insurify makes the insurance company auditioning process a whole lot easier by zeroing in on the cheapest car quotes for your profile, fast.
Using a proprietary dataset of over 1.6 million car insurance shopper applications, the data scientists at Insurify have run various studies on driver behavior across geographical locations, age ranges, motor vehicle registration, and other variables all related to auto insurance coverage.
We’ve been able to determine the speediest cities in the nation, the most popular cars among age groups, and the occupations with the worst drivers, among other insightful reports. We’ve also launched annual awards campaigns to congratulate the communities across the country who have excelled in environmentally friendly initiatives, educational attainment, and other areas.
Here's how Memphis stacks up for the state of Tennessee:
