How Much Does Car Insurance Cost in Memphis, TN?
Average annual car insurance premium. Updated March 2026 with data from BLS, U.S. Census Bureau, and industry surveys.
Typical Cost Range
$984 – $2.460
-18% vs national average
$984$1.722$2.460
LowNational avg: $2.100High
Memphis vs State & National Average
| Category | Memphis | Tennessee Avg | National Avg |
|---|---|---|---|
| Average cost | $1.722 | $1.741 | $2.100 |
| Low estimate | $984 | $1.306 | $1.575 |
| High estimate | $2.460 | $2.263 | $2.730 |
Detailed Cost Breakdown
| Item | Low | High | |
|---|---|---|---|
| Liability only | $328 | $738 | per year |
| Full coverage | $984 | $2.460 | per year |
| Good driver discount | $-164 | $-410 | savings |
| Young driver surcharge | $410 | $1.640 | additional |
Car Insurance in Nearby Cities
Frequently Asked Questions
How much does car insurance cost in Memphis?
In Memphis, TN, car insurance typically costs between $984 and $2.460. The average is $1.722, which is 18% below the national average.
Is Memphis expensive for car insurance?
Memphis has a cost-of-living index of 82 (100 = national average). Car Insurance costs are 18% lower than the national average of $2.100.
What factors affect car insurance costs in Memphis?
Key factors include local labor costs, cost of materials, market competition, Tennessee state regulations, and Memphis's overall cost of living (index: 82/100). Prices can also vary by season and specific requirements.