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2010_Toyota_Camry.jpgA new study shows that Memphis isn’t a good option to get auto insurance if you’re wanting to save a few dollars.

Consumer finance organization ValuePenguin examined auto insurance rates in 44 cities across Tennessee. Link between the research unveiled that Memphis has got the highest rates. In Memphis, people spends $1, 212 a-year normally for car insurance.

The ValuePenguin research found that the most effective five cities with the highest insurance rates in Tennessee had been all in the Memphis metro location. Regardless of Memphis, these areas are Bartlett ($1, 049), Germantown ($1, 038), Collierville ($1, 032), and Dyersburg ($979).

To obtain quotes from auto insurance businesses the study, the business thought the identification of a 30-year-old male driver who's solitary. He imaginatively drove a 2010 Toyota Camry he bought and always commute to and from their place of employment, in accordance with the research. The driver had no at-fault accidents or violations within the last 5 years.

ValuePenguin looked over insurance quotes from 10 top automobile insurers that function throughout Tennessee, averaging prices throughout the companies to create a final quantity for every city. Those businesses included GEICO, State Farm, Nationwide, Allstate, Liberty Mutual, and many other people.

The most truly effective five towns and cities aided by the most affordable insurance rates tend to be Bristol ($810), Kingsport ($813), Johnson City ($830), Brentwood ($857), and Gallatin ($871), in line with the research.

Brian Quinn, co-founder of ValuePenguin, stated the business posts unique evaluation and creates user-friendly tools that help people make much more informed economic choices. The business is in the process of conducting automobile insurance researches for each condition in the country.

“We hope that Tennesseeans know how much normal car insurances costs can vary based their current address inside the state, ” Quinn said. “The most the work we do at ValuePenguin is looking into big information linked to customer finance problems. As We did a few their state breakdowns and got great feedback, we understood we needed to do the evaluation nationwide.”

Based on ValuePenguin’s Tennessee study, towns with expensive auto insurance prices had been usually close to large crime places and/or high population thickness areas. Cities with less expensive with automobile insurance rates typically had a lower life expectancy population density and lower crime rates.

The five priciest locations had the average annual price of $1, 062 whilst five most affordable places had yearly annual premiums around $836. The typical cost of car insurance in Tennessee ended up being $916 per year, based on the study.

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