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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.

Memphis Average (annual) Tennessee Average National Average
$1,949 $1,570 $1,548

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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.

Insurance Company Average 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.

Age bracket Average 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.

Marital Status/Gender Average 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.

Incident Average 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.

Credit Score Average 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.


Rainy Days a Year


Avg. Annual Rainfall


Avg. Annual Snowfall

Be Prepared For

Driving in Memphis

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

City of Memphis Parking

ParkWhiz in Memphis

Find Local Memphis Agents

Lipscomb & Pitts Insurance

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

The Carter Agency


Fred L. Davis Insurance Agency

1374 Airways Blvd, Memphis, TN 38114

Boyle Insurance Agency, Inc.

5900 Poplar Ave., Memphis, TN 38119

Farris Evans Ins.Agency

1568 Union Avenue, Memphis, TN 38104

Smith-Berclair Insurance

855 Ridge Lake Blvd Suite 400, Memphis, TN 38120

Boshwit Brothers Mortgage Corp.

2595 Broad Avenue, Memphis, TN 38112


The average Memphian's annual cost of coverage


Our customer's average savings after comparing insurance



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

See How Much You Can Save in Memphis

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About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.
  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.