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Cheap Auto Insurance Quotes in Memphis, TN (August 2022)

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Olivia Oksenhorn

By: Olivia Oksenhorn

Edited by Tanveen Vohra | Reviewed by licensed insurance agent, Janeth Lopez

Last Updated February 4, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

If you spot Elvis driving anywhere around Memphis, don’t call him an impersonator—he’s officially an Elvis Tribute Artist—and keep your hands on the wheel. We don’t want any accidents happening before you get a chance to tour Graceland!

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.

Car Insurance in Memphis, TN

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.

Quick Facts

  • The average cost of car insurance in Memphis is $232 per month, or $2784 annually.
  • Car insurance in Memphis is $65 more than the average cost of car insurance in Tennessee.
  • The cheapest car insurance provider in Memphis on average is Foremost GroupSelect℠, but you should always compare quotes to find your best personal rate.

Quotes by Top Companies

State Farm
$104
Allstate
$114
Direct Auto
$203
The General
$216

Cheapest Car Insurance in Memphis, TN

The cost of car insurance can vary depending on the insurance provider. That’s because every insurance provider values information like your driving history and your credit score a little bit differently. Although the following car insurance companies offer the cheapest auto insurance premiums on average, it’s always important to compare quotes. Use Insurify to find your best rate today!
Insurance Provider in MemphisQuotes
State Farm$104 /mo
Allstate$114 /mo
Direct Auto$203 /mo
The General$216 /mo

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Best Car Insurance in Memphis, TN

The Insurify Composite Score is calculated by analyzing multiple factors that indicate the quality, reliability, and health of an insurance company. Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings, Consumer Reports customer satisfaction surveys, mobile app reviews, and user-generated company reviews. The following are the top rated companies that offer car insurance in Memphis. For the complete list, see Insurify's best car insurance companies.
Best CompaniesScoreQuotes
American Family89$175 /mo
Nationwide89$264 /mo
Safeco86$196 /mo
Liberty Mutual82$291 /mo
Travelers80$179 /mo

Average Car Insurance Cost

Tennessee Cities
Knoxville$112/mo
Chattanooga$139/mo
Clarksville$124/mo
Murfreesboro$125/mo
Memphis$159/mo
Tennessee$132/mo
Knoxville
$112
Clarksville
$124
Murfreesboro
$125
Average for TN
$132
Chattanooga
$139
Memphis
$159
Click here to learn about car insurance quotes and save on your current policy.

Minimum Car Insurance Requirements in Tennessee

All motor vehicles operated or parked on Tennessee roadways are required to be insured. Proof of insurance must be carried in your car at all times and must be available when:

  • Requested by law enforcement
  • Renewing vehicle registration
  • The vehicle is involved in a car accident

The minimum liability insurance requirements for private passenger vehicles in Tennessee[1] are:

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury

As a major part of your liability insurance, bodily injury coverage covers medical bills for people other than the policyholder who are injured during an accident. Tennessee is an at-fault state, meaning the driver who is responsible for the collision is also responsible for paying for any resulting expenses, either through their car insurance provider or out of pocket.

  • $15,000 per accident for property damage

If it’s determined that an insured driver is at fault for an accident, this coverage pays for repairs to the property of the other involved parties. Additionally, property damage coverage can cover legal costs if the insured driver is involved in a lawsuit following the accident.

Memphis Car Insurance Rates by Driver Age

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 AgeAvg. Monthly Cost
teens$404
20s$280
30s$234
40s$241
50s$191
60s$163
70s$185
80s$209

Memphis Car Insurance Rates by Driving and Accident History

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.

Driving HistoryAvg. Monthly Cost
No Violation$229
Speeding Ticket$280
At-Fault Accident$313
Failure to Stop for Red Light / Stop Sign$289

Memphis Car Insurance Rates by Credit Tier

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 TierAvg. Monthly Cost
Excellent$201
Good$228
Average$241
Poor$270

Find local Memphis agents

  • Boyle Insurance Agency, Inc. 

    5900 Poplar Ave,
    Memphis, TN 38119
  • Corey Young dba ICY Group 

    2860 Bartlett Rd. Ste. 11,
    Memphis, TN 38134
  • Lofton Wells Insurance 

    6187 Stage Rd,
    Memphis, TN 38134
  • Hollis & Burns Insurance Agency 

    700 Colonial Road,
    Memphis, TN 38117
  • Larry E Crum II 

    5165 Poplar Ave,
    Memphis, TN 38117
  • The Associated Agency 

    5050 Poplar Avenue,
    Memphis, TN 38157-1200
  • Harris, Madden, Powell, Stallings & Brown, Inc. d/b/a HMP Insurance 

    1661 International Dr. Ste. 300,
    Memphis, TN 38120
  • FINS Agency, LLC 

    3766 Ridgeway Rd,
    Memphis, TN 38115
  • Smith-Berclair Insurance 

    5118 Park Ave,
    Suite 400, Memphis, TN 38117
  • Sneed, Robinson & Gerber, Inc. 

    4515 Poplar Ave STE 322,
    Memphis, TN 38117-7507
View more

Memphis, TN DMV Information

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.

Public Transportation in Memphis, TN

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.

How to get the best and cheapest car insurance in Memphis, TN

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.

FAQs - Memphis, TN Car Insurance

  • First, your agent will at the very least answer any questions about the minimum insurance coverage you’re required to carry in Tennessee. Then, it’s time to have a conversation to help them understand who you are as a driver, what your financial and family profiles are, etc. so they can offer you discounts they may have available to lower your rates. It’s actually a lot easier if you find a site like Insurify that can ask you all the questions (instead of the other way around) to arrive at the cheapest car insurance quote possible without all the hassle.
  • Yes. As of 1977, Tennessee law requires drivers to carry liability coverage at the very least. While this is the only state-required insurance , a bank or lienholder could require you to carry extra coverage if your vehicle is being financed (usually comprehensive and collision coverage). Always carrying the minimum insurance will keep you out of trouble and your car out of the impound lot. And there are additional insurance options you can and should look into just to be on the safe side.
  • First, you’ll need to get a liability auto insurance policy that meets the minimum state law requirement. In Tennessee, the required minimum limits of your liability car insurance are $25,000 for each injury or death per accident, $50,000 for total injuries or deaths per accident, and $15,000 for property damage per accident. Once you have the legal amount of insurance coverage, visit driveinsuredtn.com or your local county clerk to pay all fees, including but not limited to the county reinstatement fee.

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  • Data scientists at Insurify analyzed over 40 million auto insurance rates across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. With these insights, Insurify is able to offer drivers insight into how their car insurance premiums are priced by companies.

Insurify Insights

How Memphis Drivers Measure Up

While most drivers know that car insurance quotes are determined in part by your personal driving history, many may be unaware that rates are also impacted by the average risk of the drivers around you as well. Check out Insurify's latest analysis of driving records in Memphis, Tennessee below:

Methodology

Drawing from an internal database of over 4 million car insurance applications, the research team at Insurify analyzes patterns in car ownership and driver behavior - including how Memphis drivers measure up to their fellow motorists across Tennessee in areas including speeding, DUIs, and more.
Insurify Insights publishes data-driven articles, trend analyses, and national rankings each week on all factors related to cars and those who drive them.

nissan

Nissan Altima

Most Popular Car in Memphis

#16

City with the Most Speeding Tickets Rank in Tennessee

#22

City with the Most Moving Violations Rank in Tennessee

#31

City with the Most DUIs Rank in Tennessee

#3

City with the Most Suspended Licenses in Tennessee

  • While car accidents are a sadly unavoidable feature of time spent on the road, rates of accidents do vary from city to city and from state to state. Memphis drivers rank 18 in the number of car accidents per driver across all cities in Tennessee.

    • Rank within state: #18
    • Percent of drivers in Memphis with an accident: 8.5%
  • While driving while intoxicated is never acceptable, it’s a more common offense than many assume. Memphis drivers rank 31 in the number of DUI’s per driver across all cities in Tennessee.

    • Rank within state: #31
    • Percent of drivers in Memphis with a DUI: 1%
  • Reckless driving refers to a specific traffic violation: when drivers willfully act dangerously in spite of the risks they’re imposing on both themselves and others. Among all cities in Tennessee, Memphis drivers rank 13 in the number of reckless driving offenses per driver.

    • Rank within state: #13
    • Percent of drivers in Memphis with a reckless driving offense: 0.05%
  • The Insurify team classifies rude drivers as those who commit the following driving offenses: failure to yield or failure to stop, improper backing, passing where prohibited, tailgating, street racing, or hit-and-runs. Among all cities in Tennessee, Memphis drivers rank 7 in rude driving infractions.

    • Rank within state: #7
    • Percent of drivers in Memphis with a reckless driving violation: 1.6%
  • Exceeding the speed limit can endanger others and leave a permanent stain on your driving record. When compared to other cities in Tennessee, Memphis drivers rank 16 in the number of speeding infractions per driver.

    • Rank within state: #16
    • Percent of drivers in Memphis with a speeding ticket: 11.4%
  • Having a squeaky-clean driving record is an accomplishment to be proud of. Some cities have safer drivers than others; Memphis drivers rank 9 in clean driving records across all cities in Tennessee.

    • Rank within state: #9
    • Percent of drivers in Memphis with clean record: 18.6%
  • As auto manufacturers increasingly turn towards producing greener car models, more and more motorists are embracing hybrids and EV’s. Memphis drivers rank 7 in hybrid and electric vehicle ownership across all cities in Tennessee.

    • Rank within state: #7
    • Percent of drivers in Memphis with a hybrid/electric vehicle: 0.54%
Insurify Insights

Insurify's team of data scientists and content specialists presents Insurify Insights, a series of automotive, home, and health studies focusing on the topics that impact us all. through expert analysis of over 4 million car insurance applications and an array of top data sources, the Insurify Insights team produces new data-driven articles, trend analyses, regional superlatives, and national rankings every week. See Insurify Insights as featured in Forbes, Fox News, USA Today, NPR, and more.

Olivia Oksenhorn
Olivia Oksenhorn
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Insurance Writer

Olivia Oksenhorn is an insurance writer at Insurify. With a special focus in auto insurance and personal finance, Olivia works to help policyholders make informed decisions about their insurance. She received a bachelor's degree from the University of Colorado. Before starting at Insurify, she worked as a writer and in newsrooms and nonprofits across Colorado, including Aspen Public Radio and the Aspen Sojourner. You can connect with Olivia on LinkedIn.

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Sources

  1. Tennessee Department of Revenue. "State Minimum Car Insurance Requirements." Accessed May 28, 2022