What's the average car insurance rate in Memphis?


The average cost of car insurance in Memphis, Tennessee, is $1,949 each year. That's pricier than the average in Tennessee ($1,570) and more expensive than the national average of $1,548. Keep reading to learn more about how much you can expect to pay based on your marital status, age, credit score, and other common factors in Memphis.


AUTO INSURANCE: MEMPHIS RATES VS. STATE + NATIONAL AVERAGES
Memphis Average (annual)Tennessee AverageNational Average
$1,949$1,570$1,548

Skip to:

Or compare quotes from top insurance companies today:

Location pin icon
No spam. We take your privacy seriously.


Memphis car insurance premiums by company


The company-by-company differences in car insurance rates can be substantial, so it's important to compare quotes thoroughly and choose your insurer carefully. In Memphis, GEICO provides the most affordable rates for the typical insurance customer. We've listed the best cheap car insurance companies in Memphis below. Use this information as a starting point and be sure to compare quotes specific to your unique driving profile.


MEMPHIS CAR INSURANCE PREMIUMS BY COMPANY
Insurance CompanyAverage Rate (annual)
GEICO$1,074
USAA$1,117
State Farm$1,368
Erie$1,518
Tennessee Farmers$1,630

Check out our guide to learn how to find the best cheap car insurance.



Auto insurance premiums by age in Memphis

The best age for car insurance rates as a driver in Memphis is your 50s: drivers in this age group pay an average of $1,612per year. Those in their 60s don't pay much more ($1,641).

The Memphis drivers facing the priciest insurance rates are teenagers. When drivers hit their 20s in Memphis and move out of the teenage age bracket, they reduce their premiums substantially. The cost differential between the car insurance premiums paid by teenage drivers and drivers in their 20s in Memphis is $5,190, the largest such difference between any two age brackets.


MEMPHIS CAR INSURANCE PREMIUMS BY DRIVER AGE
Age bracketAverage Yearly Rate
Teenagers$7,838
20s$2,648
30s$1,897
40s$1,707
50s$1,612
60s$1,641
70s$1,995

Learn more about how age influences auto insurance rates.



Memphis car insurance rates by marital status and gender


In some cases, a driver's marital status and gender may affect the auto insurance rates they pay. Married drivers usually pay less for car insurance than their single counterparts. In Memphis, married motorists pay $145 less than single drivers for auto insurance. Rates for those who are widowed are also much cheaper than rates for those who are single. Interestingly enough, in Memphis, single drivers pay more than those who are widowed.

Gender is another factor that can impact auto insurance costs. Memphis's car insurance cost gap by gender is $40 per year, with male drivers paying more than female drivers.


INSURANCE RATES IN MEMPHIS BY MARITAL STATUS AND GENDER
Marital Status/GenderAverage Yearly Rate
Female$1,909
Male$1,949
Single$1,804
Married$1,804
Divorced$1,955
Widowed$1,900

Learn more about how gender and marital status have on insurance rates.



Memphis auto insurance costs by citation and accident history


If you want to keep your car insurance costs reasonable, keep your driving record clean. Speeding tickets, reckless driving citations, DUIs and DWIs, and at-fault accidents all can trigger insurance rate hikes.

Two of the most expensive driving violations from an insurance perspective are reckless driving and DUI. In Memphis, a reckless driving citation results in an average insurance rate increase of $1,065 per year, compared to the citywide average. For comparison's sake, a DUI offense results in a $907 increase and a speeding ticket triggers a $425 rate hike.


MEMPHIS CAR INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
IncidentAverage Annual Rate
DWI/DUI$2,856
Reckless Driving$3,014
At-fault Accident (damages less than $1,000)$2,584
At-fault Accident (damages greater than $2,000)$2,784
Speeding Ticket (16-20 mph over speed limit)$2,374

Get more info on how a bad driving history can impact your car insurance costs.



Memphis auto insurance rates by credit score


A driver's credit level can be closely correlated with their auto insurance rates. In fact, Memphis drivers who improve their credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) earn, on average, a 64% decrease in their auto insurance costs. Moving from "Very Poor" to "Fair" credit is a great way to save money on car insurance. In Memphis, improving your credit to "Fair" could help you earn $1,796 in savings on insurance premiums each year.


MEMPHIS AUTO INSURANCE PREMIUMS BY CREDIT SCORE
Credit ScoreAverage Yearly Rate
Very Poor$4,291
Fair$2,495
Good$1,949
Very Good$1,738
Exceptional$1,560

Get additional information on how credit impacts car insurance costs.



What drives up car insurance rates in Memphis?

Where you live in Memphis affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by ZIP code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Memphis is no exception to the rule. From ZIP code 38018 to 38116, premiums rise by 19 percent—that’s $263.

Expensive Memphis ZIP codes: 38105, 38107, 38106, 38126, 38116

Cheap Memphis ZIP codes: 38018, 38137, 38138, 38135, 38133

Memphis Driving Conditions

Inclement weather goes hand in hand with wet brakes, slick roads, and decreased visibility.

And that's not the worst of it. More than 700,000 weather-related car accidents occur each year. In Memphis, you can expect 108 rainy days with an annual rainfall of 53.7 inches. Memphis is also known to experience thunderstorms and tornadoes.

108

Rainy Days a Year

54"

Avg. Annual Rainfall

4"

Avg. Annual Snowfall

Be Prepared For

Driving in Memphis

2
Major Highways
I-40 I-55 I-240
2
Toll Roads
U.S. 36 Express Lane
2
Popular Day Trips
Meeman-Shelby Forest Holly Springs Ghost River

Find Local Memphis Agents

Farris Evans Ins.Agency

1568 Union Avenue, Memphis, TN 38104

The Carter Agency

12 N MCLEAN BLVD, MEMPHIS, TN 38104

Lipscomb & Pitts Insurance

2670 Union Avenue Ext , Suite 200, Memphis, TN 38112

Boshwit Brothers Mortgage Corp.

2595 Broad Avenue, Memphis, TN 38112

Smith-Berclair Insurance

855 Ridge Lake Blvd Suite 400, Memphis, TN 38120

Fred L. Davis Insurance Agency

1374 Airways Blvd, Memphis, TN 38114

Boyle Insurance Agency, Inc.

5900 Poplar Ave., Memphis, TN 38119

Not sure about Memphis

Check out these other Tennessee cities:

Nashville

2

$1,498

The average Memphian's annual cost of coverage

2

40%

Our customer's average savings after comparing insurance

Revised

240

That's equal to 240 cups of coffee or $599 in savings

See How Much You Can Save in Memphis

Just enter your ZIP code to get started

or
Location pin icon
No junk mail. No phone number. No fees.

Recent Questions:

Memphis Car Insurance

If my husband is excluded from his sister's policy, is he still covered as a passenger?

Sorry to hear about your situation. The big question here is this: who was driving the car?

If I'm uninsured and the person at-fault for the accident is insured, how do I get my car fixed?

Nothing would change in the way the claim should be handled, as far as damages are concerned. Any trouble he is in for not having insurance would be a separate issue.

Will filing a claim for a $2300 increase my rates?

There are a few things to think about. Your comprehensive coverage would cover your windshield damage.

Can I file an uninsured motorist claim if I know the driver?

There are a few things to consider here. First, most companies require you to report any accident, no matter who is at fault or if you file a claim or not. Second, does your relative have insurance?