Cheap Auto Insurance Quotes in Memphis, TN (2021)

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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.

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Cheapest Car Insurance in Memphis, TN

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.

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 carrier reviews. The following are the top rated carriers that offer car insurance in Memphis. For the complete list, see Insurify's best car insurance companies.

Average Car Insurance Cost

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Memphis, TN Driving Facts

Minimum Car Insurance Requirements in TN

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:

  • $30,000 per person/$60,000 per accident for Bodily Injury (BI)

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.

 

  • $15,000 per accident for Property Damage (PD)

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.

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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
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 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.

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

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.

Conclusion: 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.

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

Insurify Rankings

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:

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Nissan Altima
Most Popular Car in
Memphis, TN
suspended licenses
#7
Cities with Most
Suspended Licenses Rank

FAQs - Memphis, TN Car Insurance

What questions should I ask my agent to get the most affordable car insurance in Memphis?

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.

Is car insurance mandatory in Tennessee?

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.

My Tennessee registration was suspended. How do I reinstate it?

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.