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Memphis Car Insurance

How much does car insurance cost in Memphis, TN? Check out the average rates that drivers pay below.

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What Is the Average Cost of Car Insurance in Memphis?

Memphis is located on the Mississippi River in southwest Tennessee and is famous for blues, soul and rock 'n' roll. Elvis Presley, B.B. King and Johnny Cash recorded albums here at Sun Studios, and Elvis Presley's Graceland mansion is a popular site to visit. Memphis is also home to the Rock 'n' Soul Museum and the Blues Hall of Fame. The city is well known for its barbecue, and Beale Street is known for its live music venues. The National Civil Rights Museum offers visitors exhibitions about the history of the civil rights movement in the United States. There is also the Memphis Zoo to visit, the Memphis Botanic Garden and Shelby Farms Park with its trails and bike paths covering 4,500 acres. There are a number of museums in Memphis, including the Pink Palace Museum and Planetarium, Memphis Brooks Museum of Art and the Children's Museum of Memphis. Even with mass transit in Memphis, it is nice to see the city from behind the wheel of your car. Are you looking for more affordable car insurance? Comparison shopping is key. SmartFinancial has access to car insurance rates from more than 200 insurance companies and can match you with the insurer offering the lowest rate and best coverage.

Monthly Average Rates by Country, State, and City

Car insurance rates vary from driver to driver and are based on many factors that include driving history, claims history and where you live. Each city in Tennessee has different rates, and below, you can compare average rates with the national average. According to our data, drivers who live in Memphis typically pay around $104.28 per month compared to the national average of $134.05 per month. The best way to get a low rate is by comparison shopping. SmartFinancial can do that for you at no cost while pairing you with a reputable insurance company so you have no surprises if you have an accident.

AreaAverage Monthly Rate
National $134.05
Tennessee $78.73
Memphis, Tennessee $104.28

Memphis, TN Best Car Insurance Companies

car insurance in Memphis

Certain insurers will offer you better rates than others based on a myriad of factors, so you may get a better deal from one insurer over another for various reasons, and that’s why it’s important to compare. According to our data, Direct Auto generally has the most affordable car insurance in Memphis coming in around $76.79 per month. Other companies to consider if you live in Memphis is USAA with an average cost of $91.11 per month and Penn National which typically runs around $109.38 per month. Check out the full list below. SmartFinancial rates the following insurers as the best insurance companies for drivers in Memphis.

RankCompanyAverage Monthly RateComparison State Average
1 Direct Auto $76.79-2.47%
2 USAA $91.1115.72%
3 Penn National $109.3838.93%
4 Auto-Owners Insurance Co $119.7652.12%
5 State Farm $125.8959.90%
6 Direct General Insurance $141.4279.63%
7 Erie $142.6781.22%
8 Grange Mutual $145.6484.98%
9 Tennessee Farmers $149.0889.36%
10 SAFECO $159.00101.96%

How Much is Car Insurance in Memphis, TN?

how much is auto insurance in Memphis

Rates can vary from city to city. The residents of Chattanooga typically pay $70.63 per month while people who live in Knoxville will pay $71.70 per month on average. See what people pay for car insurance in other cities in Tennessee.

Tennessee CitiesMonthly Average Rate
Chattanooga $70.63
Knoxville $71.70
Memphis $104.28
Murfreesboro $78.95
Nashville $81.52

Cheap Car Insurance in Memphis by Zip Codes

find cheap auto insurance in Memphis

Every zip code rates differently with every insurer. Your zip code determines the crime rate in your area as well as other risks. Below, you can see how average rates range across the state of Tennessee. If you live in an area that is rated high in crime, you can make sure to garage your car in a safe place. That ought to save you some money. Covered and gated structures are best. Make sure to tell your insurance agent about the precautions you’re taking.

Memphis, TN ZIP CodeAverage Monthly Rate
38103$88.83
38104$95.62
38105$111.11
38106$95.97
38107$109.97
38108$81.75
38109$98.11
38111$109.10
38112$80.44
38113$140.50
38114$103.64
38115$117.95
38116$105.64
38117$107.70
38118$103.14
38119$110.87
38120$107.69
38122$97.10
38124$51.00
38125$110.95
38126$89.66
38127$100.24
38128$113.36
38132$54.19
38133$83.36
38134$112.44
38135$105.05
38137$127.81
38141$103.28
38152$72.71
38168$54.06
38184$36.71

Car Insurance Rates by Driver's Age Group in Memphis

Generally speaking, you pay more in car insurance the younger you are and the older you are. Teens and young adults often pay around $258.97 per month in Memphis. Compare that to drivers in their 30’s who typically pay around $86.79 per month drivers in their 40s at $80.79 per month. It’s always a good idea to check for discounts that apply at any age. Some discounts include away-at-school discount, safe driver discount, mature driver discount, good student discount as well as multi-policy and bundling discounts.

Age GroupAverage Monthly Rate
16-19$258.97
20s$133.46
30s$86.79
40s$80.79
50s$74.06
60s$75.00
70+$85.59

Cheapest Insurance for Teenage Drivers in Memphis

If you are teen in Memphis you are probably looking for a good deal on car insurance. Since teenage drivers typically pay the highest rates of any other age group, it’s important to compare multiple companies. According to our research, USAA typically charges around $184.99 per month. This is likely the most affordable option in Memphis. You might also want to consider Direct Auto and State Farm who also offer good affordable policies for teen drivers.

CompanyAverage Monthly Rate
USAA$184.99
Direct Auto$215.05
State Farm$221.46
Erie$226.96
Auto-Owners Insurance Co$231.48

Cheapest Insurance for 20 Year-olds in Memphis

20 year-olds in Memphis might want to consider Direct Auto who, on average, offers car insurance rates around $97.42 per month. USAA , Penn National , Auto-Owners Insurance Co and State Farm are also in the top 5 cheapest rates available.

CompanyAverage Monthly Rate
Direct Auto$97.42
USAA$125.15
Penn National$158.31
Auto-Owners Insurance Co$171.95
State Farm$175.85

Cheapest Insurance for 30 Year-olds in Memphis

If you are in your 30s in Memphis our research has found that Direct Auto typically has the most affordable coverage coming in around $61.69 per month, followed by USAA at $81.46 and Penn National at $94.36.

CompanyAverage Monthly Rate
Direct Auto$61.69
USAA$81.46
Penn National$94.36
Auto-Owners Insurance Co$103.74
Direct General Insurance$107.98

Cheapest Insurance for 40 Year-olds in Memphis

On average, Direct Auto offers car insurance for 40 year-olds in Memphis for around $57.89 per month. If you are looking for affordable coverage, you may also want to consider USAA or Penn National. The full list of top companies is below.

CompanyAverage Monthly Rate
Direct Auto$57.89
USAA$75.58
Penn National$82.66
Auto-Owners Insurance Co$95.04
Direct General Insurance$104.17

Cheapest Insurance for 50 Year-olds in Memphis

Oftentimes 50 year-olds enjoy some of the lowest rates of any other age group. In Memphis we found that Direct Auto generally offers the most affordable coverage at $50.73 per month.

CompanyAverage Monthly Rate
Direct Auto$50.73
USAA$68.02
Penn National$76.39
Auto-Owners Insurance Co$86.52
State Farm$95.84

Cheapest Insurance for 60 Year-olds in Memphis

If you live in Memphis and you’re in your 60s, our data indicates that Direct Auto usually has the best rates at $55.28 per month. The top 5 list of car insurance companies is below.

CompanyAverage Monthly Rate
Direct Auto$55.28
USAA$68.05
Penn National$79.90
Auto-Owners Insurance Co$90.27
State Farm$92.34

Driver's Coverage Auto Insurance Rates in Memphis, TN

driver's coverage

Typically, drivers who currently have car insurance coverage will receive a cheaper monthly quote than drivers who do not. Since car insurance is a requirement in all 50 states, companies may question why you don't currently have coverage. Because of this, they may see you as a higher risk driver. In Memphis, the average monthly rate for a driver who is currently insured is $104.87 while drivers who are not currently covered will pay around $103.97.

CoverageAverage Monthly Rate
Not Currently Insured $103.97
Currently Insured $104.87

Compare Recent Car Insurance Quotes in Memphis

auto insurance quotes in Memphis city

Your vehicle plays a big part in how you rate for car insurance. The more your car is worth, the higher your car insurance rate. To lower your monthly premiums, you can set a higher deductible, but you’ll need to pay that deductible if you have an accident. Generally speaking, the newer a car is, the more it’s worth, and you may pay more in premiums, but the latest safety features will earn you a discount. The overall safety ratings of a car are also considered when determining your rate. In Memphis a driver of a 2015 Ford Ranger can expect to pay around $107.96 per month while someone that owns a 2009 Infiniti Ex35 may pay around $92.33 per month. Check out the list of recent quotes in Memphis below.

VehicleAverage Monthly Rate
2015 Ford Ranger$107.96
2009 Infiniti Ex35$92.33
2009 Infiniti Ex35$139.87
2009 Infiniti Ex35$105.56
2009 Infiniti Ex35$132.28
2016 Kia SOUL EV$84.23
2007 Bmw 530$93.07
2021 Chevrolet Spark$95.85
2004 Ford Expedition$21.26
2004 Ford Expedition$28.97

FAQ's for Drivers in Memphis, TN

driver’s frequently asked question in Memphis

In Memphis, you are required to have auto liability insurance coverage.

What is the Minimum Amount of Liability Coverage Requirement in Memphis?

$25,000 bodily injury liability coverage per person

$50,000 bodily injury liability coverage per accident

$15,000 property damage liability coverage

What Is the Blood Alcohol Concentration (BAC) Limit in Memphis?

The legal blood alcohol content (BAC) level limit is .08% in Tennessee. And this legal limit is the same in every other state. If you are behind the wheel of a car with a .08% BAC level or higher you may be arrested for DUI. In Tennessee, penalties for a DUI include a $350 to $1,500 fine and jail time, ranging from 48 hours to more than 11 months. You may have your license revoked for one year. You also will be ordered to join an alcohol and drug treatment program. With a DUI on your record, you will see your auto insurance premiums increase. But not all car insurance companies look at DUI convictions the same way. In short, some companies offer lower rates than others. SmartFinancial's search tool can help you find the insurance companies near you that offer lower rates for drivers with DUI convictions.

Can I Register My Car Without Insurance in Memphis?

When the motor vehicle registration on a car is valid, your liability insurance coverage on the car also needs to be current and in full effect. These items are important and must be up-to-date. This is true even if you do not use the car. The insurance must be issued by an insurance company authorized by the Tennessee Department of Commerce and Insurance and certified by the Tennessee State DMV. In addition, the insurance for your car must be issued in the name of the vehicle registrant. So the driver who registers the car also must sign up for the car's insurance.

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Commute Time in Memphis, TN

21.7 Miles
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Commute Time in United States

26.4 Miles
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Number of Nearest Insurance Agents in Memphis, TN

169

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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