Who Has the Cheapest Auto Insurance Quotes in Memphis, TN?
Erie has the cheapest auto insurance in Memphis, Tennessee, at $156 per month, on average.
Compare Car Insurance Rates in Memphis, TN
Best cheap car insurance in Memphis, TN
How we chose the top companies
Best and cheapest car insurance in Tennessee
- Cheapest full coverage: Erie, $156/mo
- Cheapest minimum liability: Erie, $62/mo
- Cheapest for young drivers: Erie, $144/mo
- Cheapest after a ticket: Erie, $170/mo
- Cheapest after an accident: State Farm, $201/mo
- Cheapest for teens after a ticket: Erie, $168/mo
- Cheapest after a DUI: Erie, $256/mo
- Cheapest for poor credit: Erie, $359/mo
Monthly rates are based on full coverage car insurance for a 30-year-old man. Some rates use different ages or coverage limits.
Erie has the best combination of affordable car insurance quotes and high-quality customer service in Memphis, Tennessee, for most people. But, you can't buy a policy online. To get coverage through Erie, you'll have to go through an agent.
USAA has the cheapest auto coverage and best customer service in Memphis. However, you can only get a USAA policy if you or a family member are a current or former member of the military.
Cheapest auto insurance in Memphis: Erie
Erie has the cheapest auto insurance in Memphis, Tennessee.
The company charges an average of $156 per month for a full coverage policy. That's roughly 29% cheaper than the Memphis city average.
State Farm also charges affordable rates, at $171 per month, on average.
Find Cheap Auto Insurance Quotes in Memphis
USAA has the most affordable coverage for Memphis drivers, at $101 per month, on average. The company also has a strong reputation for customer service. However, you can only buy USAA auto insurance if you or a family member are a veteran or in the military.
Cheapest full coverage car insurance in Memphis
Company | Monthly rate | ||
|---|---|---|---|
| Erie | $156 | |
| State Farm | $171 | |
| Geico | $239 | |
| Farmers | $252 | |
| Allstate | $303 | |
*USAA is only available to current and former military members and their families.
Cheapest minimum coverage in Memphis: Erie
Erie has the cheapest car insurance in Memphis for minimum liability coverage, at $62 per month, on average.
That's roughly three-quarters the city average of $81 per month.
State Farm also has affordable coverage, at an average of $66 per month.
Best cheap liability auto insurance
Company | Monthly rate |
|---|---|
| Erie | $62 |
| State Farm | $66 |
| Geico | $90 |
| Farmers | $96 |
| Progressive | $98 |
*USAA is only available to current and former military members and their families.
Find Cheap Auto Insurance Quotes in Memphis
Cheapest car insurance in Memphis for teens: Erie
Erie has the cheapest car insurance for teen drivers in Memphis.
The company has both the most affordable full and minimum liability coverage in Memphis, at an average of $352 per month and $144 per month, respectively. That's less than half the city average for both coverage levels.
Monthly car insurance rates for teen drivers
Company | Liability only | Full coverage |
|---|---|---|
| Erie | $144 | $352 |
| Geico | $194 | $468 |
| State Farm | $228 | $524 |
| Farmers | $403 | $917 |
| Progressive | $466 | $1,353 |
*USAA is only available to current and former military members and their families.
Many insurance companies offer special discounts for young drivers like good student discounts and student away from home discounts.
Teen drivers in Memphis can also save by sharing a policy with their parents.
Most affordable auto insurance in Memphis after a speeding ticket: Erie
Erie has the cheapest car insurance in Memphis for drivers who've gotten a speeding ticket, at an average of $170 per month.
That's one-third cheaper than the citywide average.
Cheapest coverage after a speeding ticket
Company | Monthly rate |
|---|---|
| Erie | $170 |
| State Farm | $186 |
| Farmers | $311 |
| Geico | $326 |
| Allstate | $383 |
*USAA is only available to current and former military members and their families.
Cheapest auto insurance in Memphis after an accident: State Farm
State Farm has the most affordable car insurance in Memphis for drivers who've had an accident, at $201 per month, on average.
That's roughly one-third cheaper than the average cost of car insurance in Memphis.
Cheapest car insurance after an accident
Company | Monthly rate |
|---|---|
| State Farm | $201 |
| Erie | $213 |
| Farmers | $314 |
| Geico | $358 |
| Progressive | $432 |
*USAA is only available to current and former military members and their families.
Expect to pay more for car insurance after a crash. However, you can lower your rate increase by shopping around and comparing quotes.
Cheapest car insurance for teens after a ticket: Erie
Erie has the cheapest auto insurance in Memphis for teens who have a ticket, with an average rate of $168 per month.
That's half the Memphis city average of $336 per month.
Erie also has the most affordable coverage for teens who've been in an accident, at $190 per month, on average. That's also roughly half the city average of $367 per month.
Monthly minimum coverage rates for teens after a ticket or accident
Company | Ticket | Accident |
|---|---|---|
| Erie | $168 | $190 |
| Geico | $234 | $263 |
| State Farm | $253 | $279 |
| Progressive | $450 | $456 |
| Farmers | $473 | $485 |
*USAA is only available to current and former military members and their families.
Memphis teens experience an average rate increase of about 16% after a ticket and a 27% increase after an at-fault accident. Rates rise less for teens than for older drivers after a ticket or accident because insurance companies already consider teens high-risk drivers to begin with.
Cheapest car insurance in Memphis for drivers with a DUI: Erie
Erie has the cheapest auto insurance in Memphis for drivers who've gotten a DUI, at an average of $256 per month.
That's 22% cheaper than the citywide average of $330 per month.
Consider USAA if you have military ties and can get a policy. The company charges Memphis drivers who have a DUI $192 per month, which is significantly cheaper than the next best option.
Cheapest Memphis car insurance after a DUI
Company | Monthly rate |
|---|---|
| Erie | $256 |
| Progressive | $350 |
| State Farm | $358 |
| Farmers | $363 |
| Geico | $382 |
*USAA is only available to current and former military members and their families.
Memphis drivers who get a DUI pay $110 per month more than drivers without a DUI. If you have a DUI on your record, it's a good idea to shop around and take advantage of common auto insurance discounts.
Most affordable car insurance in Memphis for drivers with bad credit: Erie
Erie has the cheapest auto insurance in Memphis for drivers with a low credit score.
Coverage costs $359 per month, on average. That's 18% cheaper than the city average.
Consider USAA if you or a family member are a current or former member of the military. The company charges $183 per month, which is less than half the average cost of car insurance in Memphis for drivers who have bad credit.
Cheap car insurance in Memphis for poor credit
Company | Monthly rate |
|---|---|
| Erie | $359 |
| Farmers | $361 |
| Geico | $385 |
| Progressive | $511 |
| Allstate | $536 |
*USAA is only available to current and former military members and their families.
In Tennessee, car insurance companies use your credit score to help set your monthly rate. Auto insurance companies believe drivers who have poor credit scores file more claims than drivers with good credit.
Average cost of car insurance in Memphis by neighborhood
Where you live in Memphis will influence the amount you pay for auto insurance each month. The average cost difference between the most and least expensive neighborhoods for auto insurance in Memphis is close to $700 per year. Rates differ by ZIP code because of factors like crime, vandalism and traffic.
The cheapest neighborhood in Memphis for auto insurance is Cordova, a residential area in the northwestern corner of Memphis. The most expensive neighborhood in Memphis for car insurance is Oakville, located on the city's southern border with Mississippi.
Full coverage quotes by Memphis ZIP code
ZIP | Monthly Rate | % from average |
|---|---|---|
| 38016 | $191 | -14% |
| 38018 | $194 | -13% |
| 38103 | $221 | 0% |
| 38104 | $228 | 3% |
| 38105 | $224 | 1% |
Frequently asked questions
What's the cheapest car insurance in Memphis, TN?
Erie has the cheapest car insurance in Memphis for most people, at $156 per month, on average, for a full coverage policy. USAA has cheaper rates, but it's only available to current or former members of the military and their immediate family.
What are the best car insurance companies in Memphis?
Erie, State Farm and USAA are the best car insurance companies in Memphis. All three offer affordable coverage and good customer service. However, USAA is only available to current and former members of the military and their immediate families.
How much is car insurance in Memphis TN?
Car insurance in Memphis, TN, is $220 per month, on average, for a full coverage policy. That's roughly 40% more expensive than the Tennessee state average of $157.
Methodology
To find the best cheap car insurance in Memphis, TN, ValuePenguin collected quotes from seven of the most popular insurance companies in Tennessee. Rates are for a 30-year-old single man with good credit and no accident history who drives a 2015 Honda Civic EX.
Full coverage policies include comprehensive and collision coverage, plus liability limits that meet the legal requirements for Tennessee.
- Bodily injury liability: $50,000 per person/$100,000 per accident
- Property damage liability: $25,000 per accident
- Personal injury protection: $10,000
- Uninsured/underinsured motorist bodily injury: $50,000 per person/$100,000 per accident
- Comprehensive and collision: $500 deductible
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates came from public insurance company filings and should be used for comparative purposes only. Your own quotes may differ.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
