Cheapest Auto Insurance in Memphis, Tennessee (2024)

State Farm offers the cheapest car insurance in Memphis, with minimum-coverage policies as low as $30 per month.

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Cheapest recent rates near Memphis, Tennessee

Drivers using Insurify have found quotes as cheap as $22/mo for liability only and $36/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 October 10, 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 October 10, 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 October 10, 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 October 10, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.
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Konstantin Halachev
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  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Updated October 10, 2024

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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 $121 per month and the national monthly average of $158.

Here’s what you should know about finding the cheapest car insurance options in Memphis.

Quick Facts
  • 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 $112 per month, and full coverage costs $238 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-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Full Coverage
Liability Only
Best For
State Farm9.3$44$22Cheap rates
USAA9.4$52$26Military members and families
Mile Auto7.5$70$39Low-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 more than 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. The team weighted criteria 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 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses 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 28,000 customer reviews across 155 car insurance companies. We also consider 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 U.S., 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 scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Best insurer for cheap rates: State Farm

Compare personalized, real-time quotes
User Reviews
3.2
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
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.
$30/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.
$61/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.

Pros
  • Low rates and discounts for safe driving

  • Rideshare coverage available

Cons
  • Not all discounts are available in all states

  • Gap insurance not available

Read more driver reviews of State Farm
Antoinette - October 10, 2024
Verified

Not Happy

They did not inform me when they increased the insurance premium. It seems like the agent is receiving most of the payment.

Jerry - October 10, 2024
Verified

Good Insurance

State Farm is a good insurance company. It handles claims quickly. The only reason I want to change is the high cost of the insurance.

Sanford - October 10, 2024
Verified

Not Happy

I wouldn't recommend using State Farm. I found them to be overpriced.

Best insurer for military members and families: USAA

Compare personalized, real-time quotes
User Reviews
3.7
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.4/10
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.
$73/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

  • Limited customer service hours

Read more driver reviews of USAA
Herbert - October 10, 2024
Verified

USAA's Rising Rates

I wouldn't recommend purchasing USAA. They continue to increase rates for your car as it ages, even if you have no tickets or claims. It feels like a rip-off.

Steven - October 8, 2024
Verified

High Cost

I am paying over $500 a month for car insurance, which is more than my monthly car payment.

Janice - October 7, 2024
Verified

USAA Rating

Excellent - they were quick when I had an accident and were very kind and polite.

Best insurer for low-mileage drivers: Mile Auto

Compare personalized, real-time quotes
User Reviews
3.7
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
7.5/10
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.
$98/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

  • No discounts or bundling options

Read more driver reviews of Mile Auto
Tasha - October 10, 2024
Verified

Not pleased

Don't opt for this insurance if you're on a budget. I was unaware that this was a cost-per-mile insurance. I was never informed about it, and now I'm paying an extra $20 for roadside assistance that I thought was included. I had mentioned to the representative that I couldn't afford expensive insurance, yet the cost has increased.

Thomas - October 8, 2024
Verified

Mixed Review

Mixed. One representative was confusing and couldn't guide me regarding a text I received which stated my payment, which I had been informed had been processed, had actually gone through. To ensure I was covered, I made the payment. The previous representative had been professional and direct. So, I have a mixed reaction.

Ann - September 24, 2024
Verified

Poor Review of Mile Auto

I was hoping to save money by switching to Mile Auto. While the first two months did that, the third month my premiums went back to nearly what I had been paying with GEICO. So, I am very displeased.
Check Out: Cheapest Car Insurance Companies with Affordable Rates

Check Out: Cheapest Car Insurance Companies with Affordable Rates

How to get the cheapest car insurance in Memphis

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.

  • Look for discounts. Insurers offer a wide variety of discounts that can lower your rates. For example, bundling your car insurance with a renters insurance or homeowners insurance policy could lower your rate. Paying your insurance in full or signing up for paperless billing may also qualify you for insurance discounts.

  • 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 $30 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 $112 per month. Below are the cheapest car insurance companies in Memphis for liability-only coverage.

The below rates are estimated rates current as of: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Average Monthly Quote
State Farm$30
USAA$36
GEICO$39
Travelers$40
Auto-Owners$41
Erie$44
Mile Auto$54
Allstate$55
Farmers$59
Nationwide$73
Progressive$80
Chubb$85
Safeco$85
Midvale Home & Auto$98
Dairyland$101
National General$103
State Auto$113
Direct Auto$116
Elephant$119
Liberty Mutual$125
GAINSCO$141
The General$157
Bristol West$194
Foremost$212
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 $238 per month. Below are the cheapest full-coverage options in Memphis.

The below rates are estimated rates current as of: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Average Monthly Quote
State Farm$61
USAA$73
GEICO$80
Auto-Owners$84
Travelers$84
Erie$90
Mile Auto$98
Allstate$113
Farmers$121
Safeco$146
Nationwide$149
Progressive$163
Midvale Home & Auto$171
Chubb$175
Elephant$190
State Auto$233
Liberty Mutual$234
National General$240
Direct Auto$271
The General$285
Dairyland$289
GAINSCO$380
Foremost$411
Bristol West$480
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 recent rates near Memphis, Tennessee

Drivers using Insurify have found quotes as cheap as $33/mo for liability only and $36/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 October 10, 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 October 10, 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 October 10, 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 October 10, 2024. 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:

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision coverage

    Collision coverage reimburses you for damage to your vehicle from a collision with another vehicle or object.

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    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.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    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
Shopper Approved
ProgressiveLiberty MutualAllstate

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 $341 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: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Clean Driving Record
With Speeding Ticket
State Farm$30$39
USAA$36$47
GEICO$39$51
Travelers$40$53
Auto-Owners$41$54
Erie$44$59
Mile Auto$54$73
Allstate$55$72
Farmers$59$77
Nationwide$73$96
Progressive$80$105
Chubb$85$113
Safeco$85$113
Dairyland$101$133
National General$103$135
State Auto$113$161
Direct Auto$116$152
Elephant$119$168
Liberty Mutual$125$177
GAINSCO$141$199
The General$157$208
Bristol West$194$254
Foremost$212$300
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 $352. 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: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Clean Driving Record
With Accident
State Farm$30$41
USAA$36$49
GEICO$39$54
Travelers$40$55
Auto-Owners$41$56
Erie$44$62
Mile Auto$54$78
Allstate$55$75
Farmers$59$80
Nationwide$73$101
Progressive$80$111
Chubb$85$117
Safeco$85$114
Dairyland$101$138
National General$103$142
State Auto$113$169
Direct Auto$116$162
Elephant$119$160
Liberty Mutual$125$183
GAINSCO$141$185
The General$157$219
Bristol West$194$264
Foremost$212$311
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 $400. 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: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Clean Driving Record
With DUI
State Farm$30$50
USAA$36$60
GEICO$39$65
Travelers$40$67
Auto-Owners$41$68
Erie$44$73
Mile Auto$54$90
Allstate$55$92
Farmers$59$98
Nationwide$73$122
Progressive$80$133
Chubb$85$142
Safeco$85$142
Dairyland$101$168
National General$103$172
State Auto$113$188
Direct Auto$116$193
Elephant$119$198
Liberty Mutual$125$208
GAINSCO$141$235
The General$157$261
Bristol West$194$323
Foremost$212$353
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.
Learn More: How Long Does a DUI Stay on Your Record?

Learn More: How Long Does a DUI Stay on Your Record?

Cheapest car insurance for seniors: State Farm

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: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Full Coverage
Liability Only
State Farm$43$21
USAA$54$26
GEICO$59$29
Travelers$60$29
Auto-Owners$61$30
Erie$62$30
Mile Auto$68$37
Allstate$83$41
Farmers$87$42
Nationwide$102$50
Progressive$106$52
Safeco$113$66
Chubb$117$57
Elephant$142$89
State Auto$162$79
National General$169$72
Liberty Mutual$180$96
Direct Auto$194$83
Dairyland$212$74
The General$214$118
GAINSCO$294$109
Foremost$300$155
Bristol West$353$143
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 $303 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 offer good student discounts for students who maintain a certain GPA. Enrolling your teen in a defensive driving course is another 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: Sunday, September 1 at 12:00 PM PDT
Data reviewed by Konstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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.

Insurance Company
Full Coverage
Liability Only
State Farm$104$51
USAA$121$60
GEICO$126$62
Auto-Owners$142$69
Erie$151$74
Travelers$151$72
Mile Auto$190$104
Allstate$199$97
Farmers$211$103
Nationwide$257$126
Progressive$289$142
Safeco$291$169
Elephant$309$194
Chubb$329$160
Liberty Mutual$413$221
State Auto$413$200
The General$453$249
National General$472$202
Dairyland$473$165
Direct Auto$492$211
GAINSCO$661$245
Foremost$728$376
Bristol West$809$327
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.
Read More: The 10 Best and Worst Car Insurance Comparison Sites

Read More: The 10 Best and Worst Car Insurance Comparison Sites

Memphis car insurance quotes by credit tier

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.

City
Full Coverage
Liability Only
Chattanooga$170$82
Clarksville$197$86
Knoxville$173$75
Murfreesboro$191$83
Nashville$204$89
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 $238 per month for full-coverage car insurance and $112 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 $30. USAA and GEICO also offer affordable coverage, with respective monthly liability rates of $36 and $39.

    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 9.3 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.

Sources

  1. Insurance Information Institute. "Auto insurance basics—understanding your coverage."
  2. Tennessee Department of Revenue. "Why You Should Have Auto Insurance."
  3. Tennessee Department of Safety & Homeland Security. "DUI Offenses."
  4. Insurance Information Institute. "Auto insurance for teen drivers."
  5. Tennessee Insurance Depot. "Does Your Credit Score Affect Your Insurance Rates?."
  6. Action News 5. "Over 6,000 cars stolen in Memphis in 2023."
  7. ABC 24. "Shelby County roadways are the deadliest in the state of Tennessee."
Taylor Medine
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.

Danny Smith
Edited byDanny Smith
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Danny Smith
  • Licensed auto and home insurance agent

  • 4+ years in content creation and marketing

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.

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Konstantin Halachev
Data reviewed byKonstantin HalachevVP of Engineering & Data Science
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

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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