Best Auto Insurance Rates in Memphis, Tennessee

On average, your neighbors pay $61 a month.

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Memphis, Tennessee is famous for many things: it is the birthplace of rock n’ roll, gospel, and Memphis soul, the BBQ capital of the world, and the city where Elvis got his start. Residents should be proud of the impact that Memphis has had on the world. They should also make sure they're not paying more than they have to for car insurance.

Average Memphis Car Insurance Rates

How much is car insurance in Memphis, TN? Residents shouldn't be surprised that average rates in Memphis are higher than the national average. High crime including a vehicle theft rate twice the national average, urban congestion, and rough roads are partly to blame for recent car insurance rate increases. The average cost of auto insurance in Tennessee is $737.59 per year. The national average price is $889.01.

Prices may vary depending on your limits, coverage, and the number of claims filed in your zip code.

Tennessee Average Annual Car Insurance Rates
Coverage Rates
Liability $413.91
Collision $309.07
Comprehensive $148.45
Total Annual Cost $737.59
Price Per Month $61.460
Source: Facts + Statistics: Auto insurance

The graph below shows the change in average Tennessee insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Tennessee car insurance rates increased from $649 in 2011 to $737 in 2015, a jump of $87 dollars, or 13.48 percent.

Tennessee average car insurance rates

QuoteWizard helps consumers compare car insurance quotes from both national insurance companies and local independent agents. Comparing quotes can help you find cheap car insurance rates near Memphis, Tennessee and save up to 40% on your premium.

Last year, 16,325 people used QuoteWizard to compare quotes from multiple companies and find the cheapest auto insurance rates in Memphis, TN.

Best Car Insurance Companies in Memphis, TN

These were the most common car insurance companies reported by QuoteWizard users living in Memphis, TN last year.

Other popular Memphis, TN car insurance companies: Safeco, AAA, 21st Century, Country Financial, Tennessee Farm Bureau, Erie, American Family, and Travelers.

Top 10 Vehicles

These are the most common car makes and models owned by Memphis, Tennessee drivers requesting quotes through QuoteWizard last year.

  1. Chevrolet Impala LS
  2. Ford F150
  3. Chevrolet Impala LT
  4. Chevrolet Malibu LS
  5. Ford Mustang
  6. Ford Taurus
  7. Honda Accord EX/LX
  8. Nissan Altima 2.5 S
  9. Nissan Maxima GLE/GXE/SE
  10. Cadillac DeVille

Minimum Car Insurance Requirements in Memphis, TN

Memphis, Tennessee has a minimum coverage requirement known as the 25/50/15 rule. This means each policy must include at least the following three components:

  • Individual Bodily Injury Liability (BIL): $25,000.
    This is the maximum amount that your insurance company will pay for an individual person injured in a car accident.
  • Total Bodily Injury Liability: $50,000.
    This is the maximum amount that your insurance company will pay in total for every person injured in a car accident.
  • Property Damage Liability (PDL): $15,000.
    This is the maximum amount that your insurance company will pay for property damage caused by a car accident.

Memphis Drivers

According to a recent report published by Allstate Insurance, when it comes to safe driving, Memphis ranked 136th out of 200 cities. While most US drivers go ten years without having an accident, drivers here are involved in crashes every eight years.

Driving Conditions

Some of the factors affecting insurance rates are the local weather and road conditions.


Memphis has a humid subtropical climate with weather ranging from very hot and humid in the summer to chilly during the winter. Spring and fall are pleasant with warm weather lasting well into late October. Thanks to its geographic location, weather can vary significantly and change swiftly depending on which direction the winds are blowing. Memphis is no stranger to snow; the city averages 3.9 inches a year. When snow does fall, traffic is paralyzed. Rainfall in Memphis averages 53.68 inches a year and is distributed evenly throughout the year. Summer months tend to be slightly drier, and the winter months wetter.

Road Conditions

According to TRIP, the roads in Memphis have deteriorated to the point where 40 percent are in poor condition. Another 17 percent are mediocre. This costs local drivers an additional $746 a year due to higher vehicle operating costs, car accidents, and traffic congestion.

Traffic Congestion

TomTom ranks Memphis 159th for worst traffic congestion in the world. An average commuter spends an extra 18 minutes per hour stuck in traffic for every 60 minutes spent commuting during peak hour and an extra 69 hours a year for commutes lasting 30 minutes.

In another study, the Texas A&M Transportation Institute (TTI) ranked Memphis 35th in the nation for yearly traffic delays. According to the TTI study, Memphis residents each spend an extra 43 hours a year stuck in traffic congestion and waste 21 gallons of fuel annually. The total cost per commuter is approximately $1,080 per year.

Moving Violations

Moving violations such as failure to stop, drunk driving, speeding tickets, and accidents can add points to your driver's license. You could end up with a bad driving record and need to purchase high-risk auto insurance.

Traffic Tickets

The City of Memphis Traffic Violation Bureau website allows you to pay traffic citations and tells drivers how to contest tickets. Memphis police issued 46,142 traffic citations in 2012.

DUI Arrests

The Memphis police department's DUI unit made 1,535 arrests for suspicion of driving under the influence of drugs or alcohol in 2012. This is a decrease of 8.63% from the 1,680 DUI arrests made in 2011.

SR-22 DUI Insurance

A DUI conviction may require you to obtain an SR-22 form. Request a quote and we'll will connect you with local agents from top companies that specialize in Memphis DUI insurance.

Car Accident Statistics

Memphis reported 29,421 car crashes in 2012, 572 of them personal injury crashes. This is an increase of 1.19% from the 29,074 accidents reported in 2011.

Traffic Fatalities

Memphis experienced 91 motor vehicle-related fatalities in 2014, a rate of 3.83 per 100,000.

All traffic deaths are a tragic loss, but considering Memphis’s estimated population of 652,717 this is still a relatively safe city in terms of traffic fatalities per capita.

Vehicle Theft Rates

Memphis reported 2,739 vehicle thefts in 2016. That's a rate of 4.18 per 1,000 residents. The motor vehicle theft rate in Memphis is much worse than the national rate of 2.20 per 1,000 people.

Car Insurance Discounts

If you want to find low-cost car insurance, discounts are one of the best ways to lower your rates. Below are only some of the auto insurance discounts available to drivers in Memphis.

  1. Bundle your auto policy with your homeowners or renters insurance. Bundling all of your policies with a single insurance company can save you up to 20% of your total bill
  2. Active duty and retired members of the Military, National Guard, or Reserves are entitled to discounts for their service
  3. Are you married or getting married soon? Some insurers offer a discount to married couples
  4. Study hard in school and maintain at least a B grade point average to qualify for the good student discount
  5. Keep your driving record clean with no tickets or accidents and you may qualify for the accident-free or safe driver discount
  6. Get a new car to qualify for the new car discount. If the car has safety features like anti-lock brakes or electronic stability control, you might be entitled to additional discounts

Car insurance agents near Memphis:

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