Go To Top

Car insurance coverage in Memphis costs an average of $1,385 annually for full coverage. That's $62 more expensive than the national average of $1,447. If you are looking for the cheapest car insurance in Memphis, consider comparing quotes from multiple insurers. Rates can vary by hundreds of dollars, depending on your age, driving record, and the type of car you own.

Read this guide to find out which insurance companies in Memphis provide the best car insurance coverage for you. Also, know about the carriers that have the best ratings for customer satisfaction and what rate each provider offers for your specific situation.

Cheapest car insurance companies in Memphis

United Svcs Automobile Assn is the cheapest car insurance company in Memphis with an average cost of $767 per year, based on insurance.com's rate analysis. While Geico is second in terms of the cheapest car insurance companies in Memphis. The table below shows how major insurance carriers rank for price.

CompanyAverage Annual Rates
United Svcs Automobile Assn$767
GEICO Advantage$1,019
State Farm Mutl Automobile Ins$1,062
Auto-Owners$1,170
Nationwide of Am$1,236
Travelers Property Cas$1,412
Metropolitan Casualty$1,595
Farmers Ins Exchange$1,638
Allstate P&C$1,644
Erie Ins Exchange$1,683
Progressive Hawaii rp$2,007

Cheapest car insurance cost in Memphis by age group

Among the carriers surveyed by Insurance.com, Geico Gen Ins Co is the cheapest car insurance company for adult drivers. It offers insurance at about $1,298 a year or $108 a month.

Rates typically drop as you gain more experience on the road and adult drivers can save money by shopping around and availing themselves of the discounts for which they are eligible. Progressive HI Ins Corp is also the cheapest auto insurance company for seniors with an average cost of $1,153 annually.

Car insurance rates go up for drivers after they enter their senior years, but they can trim their insurance costs by comparing quotes. Apart from shopping around, seniors can take advantage of the driver discounts available to lower their car insurance premiums.

Geico Gen Ins Co offers the cheapest car insurance for young adults in Memphis at about $2,049 a year. While State Farm Mut Auto Ins Co is the cheapest insurance provider for teen drivers for full coverage at an average of $4,484 a year.

The table below shows that young drivers pay higher car insurance rates than adult and senior drivers because of the lack of experience on the road. But young drivers can lower their insurance rates by shopping around, by taking advantage of the good student discount, or by staying on their parents' insurance policy for as long as they can.

Company NameAdultsSeniorsTeensYoung Adults
Geico Gen Ins Co$1,298$2,043$6,442$2,049
Progressive HI Ins Corp$1,308$1,153$8,171$2,363
State Farm Mut Auto Ins Co$1,578$1,493$4,484$2,651
Nationwide Ins Co Of Amer$2,219$2,104$8,974$4,209
Mid Century Ins Co$2,364$2,119$15,797$3,713
Allstate Prop & Cas Ins Co$2,656$2,721$10,423$3,840

Cheapest car insurance companies in Memphis by driver profile

Location and driving record are the two important factors that determine the cost of your car insurance. Your driving record can either raise or lower your car insurance premium depending on whether you have a good or bad driving history.

However, you can still find affordable coverage in Memphis no matter what your driving history looks like. Make sure you compare the rates of different insurance companies to get the best deal possible.

  • Cheapest for a driver with Poor Credit: Geico
  • Cheapest for a driver with a speeding ticket: United
  • Cheapest for accident: State Farm
  • Cheapest for DUI: State Farm

Cheapest for a driver with poor credit: Geico

Geico is the cheapest car insurance company for a driver with poor credit in Memphis. Its average annual rate is $2,153 or $179 a month.

Insurance companies often require that car drivers have good credit scores, and those with bad or poor credit may face more expensive rates.

CompanyAverage Annual Rates
Geico$2,153
United$2,174
Nationwide$2,601
Farmers Ins$2,998
Travelers$3,502
Auto-Owners Ins Co$4,029
Allstate$4,631
Progressive$5,481
Erie Ins$6,055
Metropolitan$7,015
State Farm$8,920

Cheapest auto insurance for drivers with a speeding ticket: United

United is the cheapest auto insurance company for a driver with a speeding ticket in Memphis. Its average annual premium is $1,412 annually or $118 per month.

If you get a speeding ticket, it can lead to higher insurance rates for 3-5 years. Make sure you compare price quotes from multiple insurers before you decide on the company.

CompanyAverage Annual Rates
United$1,412
State Farm$1,505
Nationwide$2,431
Erie Ins$2,448
Geico$2,491
Farmers Ins$2,520
Travelers$2,889
Auto-Owners Ins Co$2,951
Allstate$3,060
Progressive$4,074
Metropolitan$4,651

Cheapest auto insurance after an at-fault accident: State Farm

State Farm offers the cheapest car insurance rates for a driver with an accident record in Memphis at about $1,636 per year. Apart from State Farm, United, Nationwide, and Geico are other cheap insurance companies on our list.

CompanyAverage Annual Rates
State Farm$1,636
United$1,710
Nationwide$2,540
Geico$2,557
Farmers Ins$2,697
Erie Ins$2,872
Travelers$2,888
Auto-Owners Ins Co$3,629
Allstate$3,989
Progressive$4,763
Metropolitan$4,838

Cheapest auto insurance after a DUI: State Farm

State Farm is the cheapest insurance company for a driver after a DUI or DWI offense in Allakaket at about a $1,505 year.

If you're convicted of a DUI, your insurance rates will go up and it could be years before they come down again. So, it's important to shop around and find the best deal for you.

CompanyAverage Annual Rates
State Farm$1,505
United$2,195
Geico$2,517
Farmers Ins$2,607
Travelers$3,027
Nationwide$3,058
Erie Ins$3,297
Progressive$3,579
Allstate$3,806
Auto-Owners Ins Co$5,228
Metropolitan$6,624

Average car insurance cost in Memphis

The average car insurance rate in Memphis is $1,385 a year for a full coverage policy of 100/300/100 for a driver age 30, $62 less than the national average of $1,447.

The average annual premium in Memphis for minimum coverage is $448 a year or $37 a month, based on Insurance.com's rate analysis.

Average Annual RatesState Minimum Average
$1,385$448