Best Memphis, TN Auto Insurance in 2025 (Check Out the Top 10 Companies)

State Farm, USAA, and Geico offer the best Memphis, TN, auto insurance, with monthly rates as low as $51. State Farm offers the best combination of local support and affordability. USAA provides top-tier discounts for military members and their families. Geico consistently delivers the lowest rates for budget-conscious drivers.

Companies like Erie and Nationwide also offer some great car insurance options in Memphis. But the price depends on your credit score, driving history, and the type of coverage you need.

To secure the lowest premiums, choose the right coverage, compare quotes, opt for higher deductibles, and leverage discounts for safe driving, bundling, or low mileage.

Our Top 10 Company Picks: Best Memphis, TN Auto Insurance

Compare auto insurance quotes for Memphis, TN, by simply entering your ZIP code into our free comparison tool.

#1 – State Farm: Top Overall Pick

Pros

• Strong Local Support: State Farm has a vast network of local agents providing personalized service.
• Comprehensive Coverage Options: Policyholders can choose from a wide range of insurance plans tailored to their needs.
• Multi-Policy Discounts: Customers bundling multiple policies can receive significant savings. Gain more insights by reading our State Farm auto insurance review.

Cons

• Average Financial Strength Rating: State Farm insurance has a “B” rating from A.M. Best, lower than some competitors.
• Higher Than Average Premiums: Some drivers may find State Farm rates more expensive than those of budget insurers.

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#2 – USAA: Best for Military Benefits

Pros

• Special Military Discounts: USAA provides substantial discounts for active duty, veterans, and their families.
• High-Rated Customer Satisfaction: USAA earns consistently high marks for customer service and claims processing.
• Better Financial Strength: With an A++ rating, it gives policyholders peace of mind. Find more details in our USAA auto insurance review.

Cons

• Limited Eligibility: Only military members, veterans, and their families can access USAA coverage.
• Fewer Local Agents: The company primarily operates online and by phone, with fewer in-person agent options.

#3 – Geico: Best for Budget-Friendly Coverage

Pros

• Low-Cost Policies: Geico always has some of the lowest insurance premiums in the state.
• Easy Online Access: Policyholders can easily maintain their policies with a robust online interface.
• Strong Financial Rating: It holds an A++ rating, meaning it’s financially stable. Read more: Geico Auto Insurance Review

Cons

• Limited Personalized Service: Geico depends on a great deal of automation, which will not be as well-suited to those who want in-person service.
• Fewer Coverage Add-Ons: Certain drivers might discover that Geico offers a lower level of customization than its competitors.

#4 – Allstate: Best for Coverage Options

Pros

• Comprehensive Add-Ons: Allstate offers several add-on coverages, such as accident forgiveness and rideshare coverage.
• Usage-Based Discounts: Individuals save on Allstate coverage via telematics features such as Drivewise.
• Solid Financial Rating: With an A+ rating, the company is financially stable. Uncover more by reading our Allstate auto insurance review.

Cons

• Higher Premiums for High-Risk Drivers: Rates may be more expensive for drivers with accidents or violations.
• Mixed Customer Service Reviews: Some policyholders report inconsistencies with Allstate insurance claims processing and agent support.

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#5 – Progressive: Best for Competitive Rates

Pros

• Affordable Rates for Many Drivers: Progressive insurance offers competitive rates, especially for high-risk drivers.
• Innovative Discount Programs: Customers can save through the Snapshot safe-driving program.
• Wide Range of Coverage Options: Progressive insurance includes pet injury coverage and custom parts protection.

Cons

• Higher Rates Without Discounts: Drivers who do not qualify for discounts may find Progressive rates higher than competitors.
• Customer Service Can Vary: Some policyholders experience delays in Progressive insurance claims processing. Learn more: Progressive Auto Insurance Review

#6 – Nationwide: Best for Personalized Plans

Pros

• Adaptable Coverage: Nationwide provides versatile policy choices to suit personal driver requirements.
• SmartRide and SmartMiles Discounts: Low-mileage and safe drivers can save significantly on Nationwide coverage.
• Solid Financial Standing: With an A+ rating, Nationwide backs policyholders’ claims. Learn how in this Nationwide auto insurance review.

Cons

• Limited Availability in Some Areas: Nationwide insurance may not be as widely accessible as larger competitors.
• Higher Base Premiums: Nationwide rates can be higher than those of other major insurers without discounts.

#7 – Liberty Mutual: Best for Flexible Policies

Pros

• Extremely Flexible Policies: Liberty Mutual enables policyholders to customize their coverage to suit their requirements.
• Several Discount Options: Customers can save on Liberty Mutual insurance through homeownership, safe driving, and bundling discounts.
• Strong Financial Position: The company has a solid A rating for financial strength.

Cons

• Higher Than Average Rates: Some drivers may find their coverage more expensive than competitors. For additional insights, check our Liberty Mutual auto insurance review.
• Mixed Customer Satisfaction Ratings: Liberty Mutual insurance reviews indicate occasional issues with claims processing.

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#8 – Travelers: Best for Comprehensive Coverage

Pros

• Comprehensive Coverage Options: Travelers provides upgrades such as gap insurance and accident forgiveness.
• Strong Financial Strength: With an A++ rating, Travelers Insurance offers strong financial protection.
• Hybrid/Electric Vehicle Discounts: Travelers give environmentally friendly motorists special discounts. Read more: Travelers auto insurance review

Cons

• Limited Local Agent Network: It may not offer as many in-person service options as other providers.
• Higher Rates for Some Drivers: Rates can be expensive for those with poor driving records.

#9 – The Hartford: Best for Seniors

Pros

• Exclusive AARP Member Benefits: Hartford Insurance provides unique discounts and benefits designed for senior drivers.
• Lifetime Renewability Program: Qualified policyholders can obtain The Hartford insurance protection for a lifetime.
• Strong Customer Service: The Hartford Insurance Company has a good reputation for addressing claims quickly and equitably.

Cons

• Limited Availability for Younger Drivers: The Hartford insurance policies mainly serve older individuals. Gain insights by reading our article titled “The Hartford Company Auto Insurance Review.”
• More significant Premiums for Non-AARP Members: The Hartford rates without AARP membership might be higher.

#10 – Farmers: Best for Local Agents

Pros

• Strong Agent Network: Farmers Insurance offers individualized care through an extensive network of agents in the area.
• Good Discounts for Homeowners: Home and auto bundling with Farmers qualifies customers for substantial discounts.
• Robust Financial Stability: Farmers have a solid financial stability rating.

Cons

• Higher Premiums for Some Drivers: Farmers’ rates may not be the most affordable for all customers. Explore more details in our Farmers auto insurance review.
• Fewer Online Management Tools: Compared to digital-first insurers, they offer fewer features for online policy management.

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Memphis, TN Auto Insurance Monthly Rates by Provider & Coverage Level

Memphis drivers can secure the lowest minimum coverage with State Farm at $51 per month, followed closely by USAA at $52 and Geico at $57. USAA remains the most affordable for full coverage at $133 per month, while Geico and State Farm offer competitive rates at $144 and $145, respectively.

Memphis, TN Auto Insurance Monthly Rates by Provider & Coverage Level

Progressive and Nationwide provide mid-range options, with minimum coverage at $58 and $64 per month, respectively, while their complete coverage plans cost $167 and $148. The most expensive whole coverage policies come from The Hartford at $180 and Allstate at $179, making them the priciest choices in Memphis.

Full coverage rates are often more than double their minimum coverage counterparts, as seen with Farmers at $69 for minimum and $173 for full coverage. Memphis drivers should compare multiple providers, as pricing varies based on driving history, credit score, and available discounts.

Cheap Car Insurance in Memphis, TN

Are you in the market for cheap auto insurance in Memphis, TN? With AutoInsuranceEZ.com, you can find the most affordable insurance rates in your city. To acquire free car insurance rates available from the major providers today, key your zip code in the quote box here on this page.

Auto Insurance Discounts From the Top Providers in Memphis, TN

Memphis has a long history as one of the most economically powerful transportation and trading hubs along the Mississippi River. But its cultural and historical contributions are just as old and strong, including its unique influence on music and cuisine. Memphis is also the proud five-time recipient of the “Nation’s Cleanest City” prize.

Fun fact: try not to get lost! Because Memphis is known as #18 on the list of “Top 100 biggest cities”.

Auto Insurance Coverage Requirements in Tennessee

Driving legally in Memphis requires:

Liability coverage might be sufficient for certain vehicles under certain circumstances. However, if your vehicle is newer, on a lease, still being financed, or just costs a lot of money, then you’re going to want additional coverage for theft, vandalism, weather damage, and more.

Auto Insurance Coverage Requirements in Tennessee

Most Tennessee drivers pay around $116 each month just to ensure that their vehicle has decent and legal coverage. However, Memphis drivers can get great deals as low as $44/mo*, but only if they act fast!

For the absolute lowest premiums available, consult Erie or Nationwide. But if you have some circumstance that sets you apart from the average driver – like a young age or several traffic violations – you might not be able to get the bargain prices that they advertise.

Read more: Erie Auto Insurance Review

Companies that underwrite auto insurance coverage evaluate numerous factors while determining insurance rates, especially marital status, accident claims, occupation, the number of years you have been driving, and multiple cars and drivers. On top of that, premiums might alter between companies. To ensure that you’re still getting the best rate, review cheap Memphis auto insurance premiums via the internet.

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Major Car Insurance Factors in Memphis

There are many ways that your Tennessee car insurance rates may be calculated. But not all of it is out of your control; there are things you can do in order to influence what discounts you are eligible to receive. The following are a few of these elements in greater detail:

Your Zip Code

For most people, the most affordable auto insurance is generally found in cities with a lower population density. Because there are fewer automobiles on the streets, there are a lot fewer possibilities to get into a significant car accident with another motorist. The population of Memphis is 653,450, plus the normal household earnings are $36,722.

Memphis, TN Auto Insurance Monthly Rates by ZIP Code

Automotive Accidents

For having only 600,000 residents, the fatal accident statistics for Memphis are uncomfortably high. To put that into context, Los Angeles, a city with 8 times the population, only has twice as many traffic fatalities each year. If your driving record is fairly clean, you should ask your insurance agent about any Safe Driver discounts they may offer because it is pretty much guaranteed that the high rate of accidents is elevating rates in your area.

Memphis, TN Auto Accident & Insurance Claim Statistics

Auto Thefts in Memphis

Obtaining low-cost auto insurance can be tough if you are at risk for auto theft. Certain popular automobile models are attractive to thieves, and also motor vehicles that are left frequently in large urban centers. The total quantity of stolen automobiles in 2013 dropped to 2,684 for the city of Memphis.

But just because rates are decreasing doesn’t mean you’re out of the woods. You’ll want to make sure you have Comprehensive coverage with an affordable deductible if you want to fully protect yourself from auto theft.

Your Credit Score

In some states, driving with poor credit can lead to rates that are 4 times higher than the average driver’s.

Memphis, TN Auto Insurance Monthly Rates by Provider & Credit Score

But it seems that Memphis coverage providers are a little more lenient, especially when you look at a company like Nationwide.

Your Age

The older you are, the less likely your many years of driving experience make it for you to get into a serious accident.

Memphis, TN Report Card: Auto Insurance Premiums

On the other side of the spectrum, however, this means that young drivers (especially teenagers) are getting charged some pretty expensive rates due to their lack of experience and high risk. But getting good grades and taking driving courses will open up some teen-friendly insurance discounts.

Your Driving Record

Accident forgiveness is a new type of discount that more and more insurance companies are beginning to adopt.

Memphis, TN Auto Insurance Monthly Rates by Provider & Driving Record

If you only have one or a few minor violations on your record, such as a “Fender-bender” or other minor accident, you could have it eliminated from the list of factors that determine your monthly rate.

Your Vehicle

If you carry insufficient coverage on any vehicle, luxury or otherwise, you’ll not just be losing money every month to pay your premium.

Memphis TN Auto Insurance Monthly Rates by Vehicle & Coverage Level

You’ll probably also have to pay for whatever coverage you neglected to purchase in the first place. And because luxury vehicles are more expensive, they require more comprehensive plans – which are also more expensive than regular plans.

Minor Car Insurance Factors in Memphis

You may be surprised to learn what else might influence your monthly insurance bill:

Your Marital Status

Married couples, between both partners, have the largest opportunity to lower their bills by bundling together multiple insurance policies. This includes auto, homeowner’s, alternative vehicle (motorcycles, RVs, boat, etc) insurance, or even adding your teenage driver to your family policy for the lowest rate.

Your Gender

We’ve got some surprising news for this one. Believe it or not, most companies don’t charge men and women different rates based on gender alone anymore. But if your company still does, don’t lose too much sleep over it; the difference barely exceeds 2-3% in price.

Your Driving Distance to Work

Locals are probably already familiar with typical Memphis gridlock, seeing as how it can take anywhere from 14 to 29 minutes to get to work (with 20 being the general average). Around 76% of commuters will use their own automobile alone to get around, while an additional 5% to 25% may carpool.

Who do you buy from for auto insurance?
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Across the board, business vehicles are usually 11-12% more costly to insure than personal vehicles. Other driving factors, such as yearly miles or when you’re on the road during the day, take Herculean efforts of change just to save anywhere from 2 to 5%.

Your Coverage and Deductibles

If you’re going to raise your deductible in order to get a lower rate, make sure you put a little money aside first. In a worst case scenario, where your car needs thousands of dollars on repairs or needs to be replaced completely, not having some quick cash to pay that deductible means it could take a while to get your car back on the road.

Education in Memphis, TN

Just under 28% of local residents have received their high school diploma, and another 24% have yet to complete all four years of their high school education. But if you decide to return and earn an advanced degree, the investment will pay off in the form of cheaper auto insurance rates!

Memphis is actually well-known for having an impressive collection of universities in and around its borders. The University of Memphis is the largest, with an average enrollment of over 20,000 students pursuing more than 100 different degrees ranging from the baccalaureate to doctoral level. Rhodes College is considered a strong enough intellectual powerhouse to rival even some Ivy League schools, according to Time magazine. Additionally, the medical school of the University of Tennessee Memphis is nationally recognized for excellence.

Auto insurance is probably your most significant investment as a consumer. To get the best value, you should explore car insurance discounts while ensuring you find an honest and dependable provider who can follow through on their assurances. Various car insurance agencies excel in this regard more than others, and conducting a diligent web-based search will help you distinguish the good from the bad.

How We Conducted Our Memphis Car Insurance Analysis

Our average rate calculation is based on a specific profile: a 34-year-old married male with a credit score of 700 or higher, a clean driving record, and continuous auto insurance coverage for at least 12 months. The estimate also considered a financed 2015 Honda Accord with an anti-theft device, an annual mileage of approximately 13,500 miles (the national average), and an auto insurance deductible of $500.

State Farm, USAA, and Geico offer the best Memphis, TN, auto insurance policies, with a minimum monthly rate of $51. Insurance companies base premiums on credit history, driving history, and vehicle model, so motorists must compare policies to achieve an optimal balance of protection and affordability.

Tennessee’s insurance regulations require liability auto insurance of 25/50/25, ensuring drivers have financial responsibility in the event of accidents. With Memphis’ high accident and car theft rates, a collision and theft protection policy is needed to minimize out-of-pocket expenses.

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