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Single-car drivers in Memphis pay an average of $2,950 annually for car insurance. That’s about $246 per month to insure your car.
Located along the Mississippi River, Memphis is a city with a storied history as the birthplace of soul, blues, and rock ‘n roll. The Bluff City is renowned for its live music venues, cultural landmarks, barbecue restaurants, and community events like Memphis in May. Residents love Memphis because of the relatively low cost of living for a city of its size and its blend of big-city attractions and small-town Southern charm.
If you live in Memphis, you’ll find that driving is the preferred method of transportation for most residents. Make sure your vehicle is protected by shopping for the lowest rate on the car insurance app.
Whether you stick to your state’s minimum liability requirements or opt for a full-coverage policy with comprehensive and collision insurance, your home state plays a big role in determining how much you pay to protect your wallet against car-related expenses.
To find the best coverage options for your vehicle in Tennessee, download Jerry, the world’s first super app for car owners and your key to optimized insurance!
Best car insurance companies in Memphis
There’s no single company that offers the best rate to everyone in Memphis. If you’ve recently moved or are looking to optimize your coverage, the best option is to compare multiple quotes from different companies. Sound like a drag? The Jerry app can get it done in a matter of seconds, saving you time and money while setting you up with the best coverage available!
Take a look at the table below for comparison of real Jerry customers’ rates in Memphis:
No matter what provider you choose, you’ll need to meet your state’s minimum legal requirements for car insurance. In most cases, that means buying a certain amount of liability insurance, but you may also need to carry uninsured motorist coverage, medical payments coverage, or personal injury protection.
State requirements and risk assessments associated with zip codes mean your rate could vary not just from state to state or city to city, but block to block! With so many factors at play, finding the best coverage becomes dizzyingly complex. That’s why Jerry exists: to simplify car insurance comparison with authoritative quotes from over 55 top insurance providers.
Studies indicate that most Tennessee car accidents are caused by tailgating. Locals refer to this as “the NASCAR effect”—whether or not it’s true, it appears that Tennessee drivers are trying to “draft” off the car in front of them. Unfortunately, failing to maintain a safe following distance is not only extremely dangerous, but can also be fatal at high speeds.
Can you go to jail for not having car insurance in Tennessee?
Cheaper fuel prices and insurance rates combined with well-maintained city roads and highways make car ownership in Tennessee cheaper than any other state in the US. This also helps make the cost of living in Tennessee considerably lower than the national average. That doesn’t necessarily mean you’ll pay less to purchase your vehicle though. In fact, vehicle sales prices for both new and used cars in the Volunteer State are pretty much in line with the national average.
How much does car insurance in Memphis cost?
Rates for car insurance in the same state can fluctuate wildly depending on your specific zip code. Depending on your city’s demographics—including population density, average age, and accident rate—your car insurance premiums may be much higher or lower than a neighboring city.
Here’s what real Jerry customers paid for car insurance in Memphis:
How do Memphis insurance rates compare to similar areas? Take a look at the table below to see.
Let’s break down what makes car insurance in Memphis so expensive. The graph below shows how much Tennessee drivers pay, on average, for liability insurance, comprehensive coverage, and collision insurance—the three main elements of what’s called “full coverage car insurance.”
Liability coverage, which is the bare minimum required by law, covers repairs and medical expenses for other drivers if you’re in a collision
Comprehensive insurance covers repairs to your car caused by something other than a collision (e.g. vandalism, natural disasters, or theft)
Collision insurance covers repair costs for your vehicle following a collision with another car or a stationary object
So, how much car insurance does Tennessee require?
How much insurance do I need in Tennessee?
Tennessee requires a 25/50/15 rule for minimum coverage. Tennessee drivers are required to have a minimum of $25,000 of bodily injury coverage, $50,000 of bodily injury liability per accident, and $15,000 of coverage for property.
What do you need if you’re pulled over?
If you get pulled over, you are required to show your driver’s license, proof of insurance, and registration. Thankfully, digital insurance ID cards are accepted by police and the DMV so you will always have your stored proof of insurance available 24/7 in the Jerry app.
Is Tennessee a no-fault state?
No, Tennessee is an at-fault state. This means the at-fault driver’s insurance will pay for the not-at-fault driver’s and passengers' injuries, once the at-fault driver’s insurance company accepts liability and confirms that there is enough coverage.
Take a look at the graph to visualize how much your expenses could increase if you opt for full coverage.
But those are just the minimum requirements you need to avoid a violation. If you’re in an accident, state minimum insurance might not cover all your expenses—especially if you or anyone in your vehicle is injured, or your car sustains significant damage.
That’s why experts generally suggest carrying more than the minimum required coverage. As previously mentioned, so-called “full-coverage” policy typically includes liability coverage, collision coverage, comprehensive coverage, and uninsured/underinsured motorist coverage.
On top of that coverage, you can check out special add-ons to fit your situation, vehicle, and unique needs. Do a lot of driving on remote back roads? Towing and labor coverage could get you out of a tight spot. Work for a rideshare company? Be sure to invest in rideshare insurance. You can even add specialized insurance for your car’s sound system if you’ve got a premium audio setup.
Best car insurance for bad drivers in Memphis
Listen, we’re not here to judge. Maybe you had a bad day and ended up with a reckless driving charge or a DUI. Maybe you had a really good day and landed yourself an accidental speeding ticket.
No matter the reasons behind your tickets, even minor traffic violations can have an outsize impact on your insurance premium, especially if they’re repeated. And just one major offense (think DUI) could get you labeled as a “high-risk driver” by your insurance company. Worst of all, that label can follow you for years in some cases—even if you’ve cleaned up your act and drive like a saint.
Here’s where Jerry comes in. Even if your driving record is less than stellar (like, a lot less), there are still ways to optimize your rates and coverage to get the policy you need. Here’s how much Jerry customers in Memphis with a history of violations saved on insurance:
If you have a DUI on your record, your car insurance premium in Memphis could increase by as much as 10%.
How much does your car insurance increase after a speeding ticket in Memphis?
If you’re caught speeding through Memphis and end up with a ticket, you can expect to see your insurance rate jump by about 19%. And keep in mind—repeated speeding tickets could cause an even bigger increase!
How many fatal accidents happen in Memphis each year?
According to local accident statistics, there are roughly 17.6 fatal accidents per 100,000 residents in the city of Memphis each year. Insurance won’t protect you against accidents like this, so be sure to drive safely!
How many drivers in Memphis have been in an accident?
About 9.79% of drivers in Memphis have been in an accident - resulting in an average rate increase of 19%.
Best car insurance in Memphis by age
Young people get stereotyped all the time—but when insurance companies do it, it can cost you hundreds of dollars a year!
Best car insurance in Memphis for young drivers
That’s because insurance companies use age as a metric for risk. Providers see young drivers as less experienced and more likely to submit claims (i.e., cost them money) than older drivers—so they tend to hike rates for anyone under 25.
Of course, you know that no magic switch it going to flip when you turn 25 to make you a safer driver. You might even be the safest driver you know! But that won’t stop insurance companies from saddling you with a high rate.
To keep your rates low at a young age, check out these simple hacks:
Plenty of insurance companies offer good student discounts to anyone under age 25 with a B average or higher. If you’re still in school, your grades could be the key to insurance savings!
If you can get on a family plan with an older relative or friend, you’ll benefit from their lower risk rating and get a lower rate on the same coverage.
Check for state-approved defensive driving courses. Many insurance companies will give you a discount if you can prove that you’ve attended a course.
Play the long game and stick with one insurance company for a few years. If you maintain a good driving record, you could score multiple discounts for loyalty and safe driving!
Telematics programs like Jerry’s Drive Well, Earn Perks offer discounts and rewards for safe driving—and instead of basing your savings on your age, it’ll be based directly on how you actually drive!
Want to see how much more you might pay for car insurance in Memphis based on your age? Check out the table below.
Car insurance in Memphis for your car
Your age and driving record aren’t the only things that determine your car insurance rates in Memphis. The vehicle you drive also plays a role.
The Toyota Prius is one of the most popular cars in Tennessee—and it’s cheaper to insure than a lot of the SUVs and electric cars on the road today. But if you drive a minivan, a truck, or a sports car, you might be looking at a higher premium than your other Memphis neighbors.
Take a look at the table below for a full rundown of how much insurance for different makes costs in Memphis.
More people in Memphis drive a Hyundai Sonata Se than any other car! On average, these drivers pay $3,098 for their auto insurance.
What is the most expensive car to insure in Memphis?
At an average of $5,478 per year, a Chrysler 200 Limited is the most expensive car to insure in Memphis. If you drive one, we’re sorry.
Car insurance cost based on where you live in Memphis:
Now, we’ve been talking about “drivers in Memphis” as if everyone sees the same rates—but in fact, your rate can vary by zip code, making it possible to have a completely different rate from your neighbor two blocks away.
Why? The simple answer: accident rates and property crimes. Maybe your zip code puts you closer to a major road with tons of accidents, or you’re in a hotspot for auto theft. Within Memphis, drivers in the 38116, 38141, 38127, 38126 and 38109 zip codes typically have the highest car insurance premiums, while the cheapest rates are found in the 38133, 38120, 38119, 38103 and 38112 codes.
Want to see the average rates in your zip code? Take a look at the breakdown below.
Finding a good car insurance policy in Memphis is just the beginning. If you’re new to the area, here’s everything you should know about driving in Memphis.
First off: weather. Memphis gets approximately 108 days of rain each year, for an annual total of 54" inches. And in the winter, you can expect 4" inches of snow. Jerry’s research has shown that heavy rain is responsible for more fatal car accidents than snow, so be sure to drive carefully in inclement weather (and invest in a good collision coverage policy!).
Memphis driving FAQs
What are the average gas prices in Memphis?
The price of gas in Memphis varies over time, but it’s typically about 7.6% lower than the national average. For tips to help save money on gas, check out our guide!
What is the rate of catalytic converter theft in Memphis
On average, 7.24 catalytic converters are stolen annually in Memphis per 1,000 cars.
What is the average commute time in Memphis?
The average one-way commute in Memphis takes 21.7 minutes, which is shorter than the US average of 26.4 minutes. It ranked #144 for most congested city in the United States. The average Memphis driver lost 8 hours in congestion in 2021.
How can you save money on car insurance in Memphis?
Let’s face it: living in Memphis means living with higher than average insurance rates. Add that to an already high cost of living overall, and saving money on insurance becomes a great way to free up space in your budget.
Sound impossible? Not at all! Here are a few simple ways to save money on car insurance in Memphis.
Compare quotes and shop often
That’s right—shopping for car insurance doesn’t have to be a one-and-done. In fact, experts recommend comparing quotes from at least three companies and shopping for new rates every six months!
Okay, we agree: that sounds like a huge pain, especially if it’s only saving you a few extra dollars each month. That’s why we created Jerry, the world’s first super app for car owners. The Jerry app takes the time, effort, and hassle out of car insurance shopping through the power of technology.
In just 45 seconds, Jerry can collect quotes from a pool of 55+ top insurance providers to help you identify the best coverage at the best rate for you. Pick the quote you like, and Jerry will handle all the paperwork—we’ll even help you cancel your old policy! Best of all, Jerry conducts routine price monitoring so you never have to worry about shopping for new rates again.
And the savings? The average Jerry user saves over $800 a year just by letting the app do their shopping.
Hunt for discounts
Here’s the one insurance savings hack that requires a little legwork on your part: finding discounts. Every insurance company offers them, but they’re not all the same, and companies often won’t advertise them directly.
That means it’s on you to search for the best discounts for you. Call your insurance company and ask about the following types of discount:
Good driver discounts:
Memphis drivers are in luck—state law mandates 20% insurance discounts for drivers with one or fewer points on their license who have continuously held a license for three years with no at-fault accidents responsible for injury or death.
You need to prove a long record of safe driving for a state-mandated good driver discount, but many companies offer easy-to-win discounts to drivers who use telematics to track their driving habits. You might even get a discount just for signing up!
Good student discounts:
Are you a full-time student in either high school or college? Do you have a B average or better? You probably qualify for a discount from your insurance company.
You’ve heard it before—bundle your home and auto insurance (or auto and renters) with the same company, and you could get a discount on both policies.
These are just some of the most popular car insurance discounts in Tennessee—but it’s not an exhaustive list! Call your agent and ask what other discounts are available.
Increase your deductible
If you’ve got full coverage car insurance, increasing your deductible is an easy way to keep your monthly expenses low without sacrificing coverage.
If you’re wondering “what is my deductible, actually?”, think of it as the amount you’ll pay out of pocket before insurance kicks in. Keeping your deductible low ensures you won’t have to pay much in the event of an accident—but it also means your monthly costs will be higher.
Raising your deductible will lower your regular payments, and if you’re already practicing safe driving for discounts, it’s a win-win! Just make sure that you have enough to cover the deductible if you do get into an accident—after all, there’s no way to predict and prevent every collision.