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.
| Company | Average 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 Name | Adults | Seniors | Teens | Young 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.
| Company | Average 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.
| Company | Average 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.
| Company | Average 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.
| Company | Average 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 Rates | State Minimum Average |
|---|---|
| $1,385 | $448 |
