Where to Get Cheap Car Insurance in Memphis, Tennessee
Best cheap car insurance companies in Memphis
Cheapest full coverage car insurance in Memphis: Erie
Erie Insurance has the cheapest full coverage car insurance for most Memphis drivers. Its rates average $1,869 a year, or $156 a month. That’s 29% less than the city average of $2,641 a year.
At $1,211 a year, USAA is even cheaper than Erie, but only members of the military and their families can get insurance from USAA.
Get a quote from State Farm, as well, if you’re looking for cheap full coverage Full coverage includes collision and comprehensive, which cover your own car for damage and theft. in Memphis. State Farm’s average rate is slightly higher than Erie’s, but it offers more car insurance discounts. If you can get a few, it could be your cheapest option.
Full coverage car insurance quotes
| Company | Annual rate | LendingTree score | |
|---|---|---|---|
 | Erie | $1,869 |  |
 | State Farm | $2,050 |  |
 | Geico | $2,872 |  |
 | Farmers | $3,026 |  |
 | Allstate | $3,633 | |
 | Progressive | $3,825 | |
 | USAA* | $1,211 | |
*USAA is only available to current and former members of the military as well as certain family members.
Best cheap liability car insurance for Memphis drivers: Erie
With an average rate of $739 a year, Erie has the cheapest liability car insurance for most Memphis drivers, too.
State Farm is close behind, though, at $795 a year. Compare quotes from both companies to see which is the cheapest for you. It could be State Farm if you qualify for one of its many discounts, including ones for bundling auto and home insurance policies, insuring more than one vehicle and getting an online quote.
You likely won’t go wrong with either company, as both are much cheaper than the city average of $968 a year for liability insurance Liability insurance covers injuries and property damage you cause to others. It’s required by law in almost every state. .
Liability-only car insurance quotes
| Company | Annual rate |
|---|---|
| Erie | $739 |
| State Farm | $795 |
| Geico | $1,074 |
| Farmers | $1,152 |
| Progressive | $1,176 |
| Allstate | $1,427 |
| USAA* | $414 |
Cheapest auto insurance in Memphis for young drivers: Erie
For the cheapest car insurance for young drivers in Memphis, make sure you get a quote from Erie. Its liability insurance rates for teens average $1,723 a year, while its full coverage rates average $4,220. Both are far below the city averages for teen drivers.
Geico has the second-cheapest rates for Memphis teens, but they’re quite a bit higher than Erie’s. Geico’s teen liability rates are 35% more than Erie’s, and its full coverage rates are 33% more.
Still, Geico offers a lot of car insurance discounts — more than Erie — which could make it cheaper for you.
Teen car insurance quotes by company
| Company | Liability only | Full coverage |
|---|---|---|
| Erie | $1,723 | $4,220 |
| Geico | $2,327 | $5,614 |
| State Farm | $2,736 | $6,290 |
| Farmers | $4,831 | $11,000 |
| Progressive | $5,590 | $16,234 |
| Allstate | $5,833 | $13,629 |
| USAA* | $1,244 | $3,220 |
Because car insurance for teens is so expensive, getting the cheapest rate is even more important than it is for other drivers. A great way to make that happen is to compare car insurance quotes from several companies before you renew or buy a policy.
Cheapest insurance in Memphis after a speeding ticket: Erie
If you have a speeding ticket on your driving record, get a quote from Erie while shopping for car insurance. Erie’s average rate for Memphis drivers with a speeding ticket is $2,034 a year. That’s 60% cheaper than the city average of $3,245 a year.
Get a quote from State Farm, too, as it isn’t much more expensive than Erie for drivers with a ticket. Its rates average $2,233 a year, which is still well below the city average.
Memphis car insurance rates with a speeding ticket
| Company | Annual rate |
|---|---|
| Erie | $2,034 |
| State Farm | $2,233 |
| Farmers | $3,735 |
| Geico | $3,918 |
| Allstate | $4,596 |
| Progressive | $4,754 |
| USAA* | $1,445 |
Best cheap car insurance quotes after an accident in Memphis: State Farm
State Farm has the cheapest car insurance for Memphis drivers with an accident on their records, though Erie isn’t far behind.
State Farm’s average rate for car insurance after an accident is $2,416 a year, while Erie’s is $2,556. The city average for these drivers is $3,755 a year.
Memphis car insurance rates with an accident
| Company | Annual rate |
|---|---|
| State Farm | $2,416 |
| Erie | $2,556 |
| Farmers | $3,767 |
| Geico | $4,294 |
| Progressive | $5,185 |
| Allstate | $6,317 |
| USAA* | $1,747 |
Cheap auto insurance for Memphis teens with bad driving records: Erie
Young drivers with speeding tickets or accidents on their records should get a car insurance quote from Erie. Its average rates for these teens are $2,018 a year after a ticket and $2,280 after an accident.
Geico comes in second for teens with bad driving records. Its average rate for teens with a ticket is $2,808 a year, while its average for teens with an accident is $3,159.
Although Geico’s rates are a lot higher than Erie’s, both companies are cheaper than the city averages. The average cost for Memphis teens with a speeding ticket is $4,037 a year. For teens with an accident on their records, the average is $4,399 a year.
Car insurance rates for teens with tickets or accidents
| Company | Ticket | Accident |
|---|---|---|
| Erie | $2,018 | $2,280 |
| Geico | $2,808 | $3,159 |
| State Farm | $3,040 | $3,344 |
| Progressive | $5,397 | $5,474 |
| Farmers | $5,676 | $5,817 |
| Allstate | $7,936 | $9,211 |
| USAA* | $1,383 | $1,509 |
Cheapest car insurance companies in Memphis after a DUI: Erie
Erie has Memphis’ cheapest auto insurance after a DUI (driving under the influence) conviction. Not only is Erie’s average rate of $3,074 a year 22% cheaper than the city average, but it’s also 27% cheaper than runner-up Progressive.
Memphis drivers with military ties will want to get a quote from USAA, as well, after a DUI. USAA’s average car insurance rate after a DUI is $2,300 a year. That’s 25% cheaper than Erie’s average rate.
DUI car insurance quotes by company
| Company | Annual rate |
|---|---|
| Erie | $3,074 |
| Progressive | $4,200 |
| State Farm | $4,298 |
| Farmers | $4,351 |
| Geico | $4,588 |
| Allstate | $4,951 |
| USAA* | $2,300 |
Best cheap Memphis car insurance for drivers with bad credit: Erie
Erie and Farmers have the cheapest auto insurance in Memphis for drivers with bad credit. Both companies have average rates that are just over $4,300 a year. The city average rate for these drivers is $5,239 a year, or about 18% higher.
Geico comes in third for cheap car insurance with poor credit, with rates that average $4,617 a year.
Bad credit car insurance rates by company
| Company | Annual rate |
|---|---|
| Erie | $4,312 |
| Farmers | $4,337 |
| Geico | $4,617 |
| Progressive | $6,133 |
| Allstate | $6,435 |
| State Farm | $8,636 |
| USAA* | $2,201 |
Best car insurance companies in Memphis
Erie and State Farm are the best car insurance companies in Memphis for most drivers. Both companies offer the cheapest rates for most of the city’s drivers. They also have happy customers, based on their great satisfaction ratings from J.D. Power J.D. Power’s satisfaction scores are based on customer surveys rating companies on factors like price, coverage options and problem resolution. .
USAA is Memphis’ best car insurance company for members of the military and their families. Its average rates are cheaper than Erie’s or State Farm’s for all driver and coverage types. USAA also scores very well with customers.
Memphis car insurance company ratings
| Company | J.D. Power** | AM Best | LendingTree |
|---|---|---|---|
| Allstate | 634 | A+ | |
| Erie | 676 | A+ | |
| Farmers | 676 | A | |
| Geico | 651 | A++ | |
| Progressive | 637 | A+ | |
| State Farm | 673 | A++ | |
| USAA* | 759 | A++ | |
**Source: J.D. Power 2024 U.S. Auto Insurance Study. Southeast region. Higher scores are better; 663 is average.
Memphis auto insurance rates by neighborhood
Memphis’ 38016 ZIP code has the cheapest average car insurance rate of $2,295 a year. The city of Cordova, part of the Memphis metro area, is included in this ZIP.
Drivers in the 38118 ZIP code pay the city’s highest car insurance rates of around $2,977 a year. This ZIP includes the neighborhoods of Colonial, Coro Lake, East Memphis, White Haven and Yorkshire.
Car insurance rates near you
| ZIP code | Annual rate | % from average |
|---|---|---|
| 38016 | $2,295 | -14% |
| 38018 | $2,323 | -13% |
| 38103 | $2,656 | 0% |
| 38104 | $2,738 | 3% |
| 38105 | $2,689 | 1% |
| 38106 | $2,840 | 7% |
| 38107 | $2,724 | 2% |
| 38108 | $2,741 | 3% |
| 38109 | $2,804 | 5% |
| 38111 | $2,737 | 3% |
| 38112 | $2,757 | 4% |
| 38114 | $2,798 | 5% |
| 38115 | $2,796 | 5% |
| 38116 | $2,865 | 8% |
| 38117 | $2,526 | -5% |
| 38118 | $2,977 | 12% |
| 38119 | $2,364 | -11% |
| 38120 | $2,409 | -9% |
| 38122 | $2,750 | 3% |
| 38125 | $2,430 | -9% |
| 38126 | $2,843 | 7% |
| 38127 | $2,858 | 8% |
| 38128 | $2,790 | 5% |
| 38131 | $2,806 | 6% |
| 38132 | $2,824 | 6% |
| 38133 | $2,355 | -11% |
| 38134 | $2,484 | -7% |
| 38135 | $2,335 | -12% |
| 38137 | $2,435 | -8% |
| 38141 | $2,717 | 2% |
| 38152 | $2,742 | 3% |
| 38157 | $2,616 | -2% |
| 38163 | $2,681 | 1% |
Memphis car insurance requirements
Memphis drivers must follow state law and have 25/50/25 car insurance, at a minimum. This means they need at least:
- $25,000 of bodily injury liability coverage per person
- $50,000 of bodily injury liability coverage per accident
- $25,000 of property damage coverage
You don’t need full coverage car insurance to drive legally in Tennessee, but most lenders will make you get it if you finance your vehicle.