How to Save on Lexington Lexus GS 350 Insurance

The most effective way to get more affordable Lexus GS 350 insurance is to regularly compare price quotes from providers in Lexington.

First, try to learn a little about how your policy works and the measures you can control to prevent rate increases. Many rating criteria that are responsible for high rates such as multiple speeding tickets and an unfavorable credit rating can be amended by making minor driving habit or lifestyle changes.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO and Allstate, while independent agents can provide price quotes from multiple companies. View a list of agents

Third, compare the new rates to your current policy and see if there is a cheaper rate in Lexington. If you can save money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

The critical component of shopping around is to use the same liability limits and deductibles on each quote request and and to analyze all possible companies. Doing this enables an accurate price comparison and and a good selection of different prices.

It’s a known fact that auto insurance companies want to prevent you from shopping around. Consumers who get comparison quotes at least once a year will presumably switch auto insurance companies because they have good chances of finding a more affordable policy. A recent survey revealed that people who made a habit of comparing rate quotes saved on average $865 annually compared to other drivers who never shopped for cheaper rates.

If finding the best rates on car insurance is the reason you’re reading this, then learning a little about how to shop for car insurance can make it easier to shop your coverage around.

Locating the best insurance company for you in Lexington can really be easy if you know what you’re doing. If you already have coverage, you will most likely be able to reduce premiums using this information. But Kentucky vehicle owners must understand how big insurance companies price insurance differently and apply this information to your search.

How to get free Lexus GS 350 insurance quotes online

When comparison shopping, there are several ways of comparing rates from lots of Kentucky insurance companies. The easiest way by far to lower the rate you pay for insurance is to use the internet to compare rates.

Doing price comparisons online is so simple that it takes the place of having to spend time driving to and from local Lexington insurance agencies. Doing it all online has reduced the need for local agents unless you have a need for the peace of mind that only an agent can give. Some companies do allow you to get prices online and have a local agent actually service the policy. When comparison shopping, quoting more will increase your chances of finding the best price.

The companies shown below have been selected to offer quotes in Lexington, KY. If your goal is to find cheap auto insurance in KY, it’s highly recommended you compare several of them to get the most competitive price.

Car insurance does more than just protect your car

Even though it can be expensive, paying for car insurance is mandatory in Kentucky but it also protects more than you think.

• The majority of states have mandatory insurance requirements which means you are required to buy a minimum amount of liability insurance if you drive a vehicle. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you have a loan on your GS 350, most lenders will stipulate that you have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your Lexus at a significantly higher premium and force you to pay for it.
• Insurance protects your Lexus and your assets. It will also pay for medical expenses that are the result of an accident. Liability coverage, the one required by state law, will also pay to defend you if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to repair the damage.

The benefits of insuring your GS 350 outweigh the cost, particularly when you have a large claim. Today the average American driver is overpaying more than $865 each year so compare rate quotes at every policy renewal to ensure rates are inline.

Lexus GS 350 insurance rate analysis

The data table displayed below showcases estimates of coverage costs for Lexus GS 350 models. Learning a little about how policy premiums are established can be valuable when making decisions on which coverage to buy.

Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Premium amounts do not factor in zip code location which can increase or decrease premium rates greatly.

Deductible analysis

One common question asked by Lexington drivers is where to set your physical damage deductibles. The rates shown below illustrate the cost difference between high and low coverage deductibles. The first pricing table uses a $250 deductible and the second rate chart uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Information does not factor in specific location information which can increase or decrease prices considerably.

Based on the above data, using a $250 deductible would cost the average driver about $17 more each month or $204 each year than opting for the higher $500 deductible. Because you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 15 months between claim filings, you would save money if you opt for a higher deductible.

The illustration below highlights how deductible choice and can affect Lexus GS 350 premium costs for each different age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.

Full coverage versus liability-only in Lexington

The diagram below illustrates the comparison of Lexus GS 350 car insurance rates when comparing full coverage to liability only. The premiums are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are applied to the premium.

Are you wasting money paying for full coverage?

There is no clear-cut formula to stop paying for full coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it could be time to drop full coverage.

For example, let’s say your Lexus GS 350 replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after the deductible is paid. If it’s costing you more than $700 annually for full coverage, then it could be time to drop full coverage.

There are a few cases where removing full coverage is not advised. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not drop full coverage.

Cheaper Lexington insurance quotes with discounts

Insuring your fleet can be pricey, but you might find some hidden discounts that you may not even be aware of. Most are applied at quote time, but some discounts are required to be specially asked for prior to getting the savings.

• Seat Belt Discounts – Forcing all vehicle occupants to use their safety belts could cut 10% or more on the premium charged for medical payments and/or PIP.
• More Vehicles More Savings – Buying insurance for multiple cars on one policy qualifies for this discount.
• Professional Organizations – Belonging to a qualifying organization may earn a discount when getting a Lexington car insurance quote.
• No Claim Discounts – Drivers who don’t have accidents pay less in comparison with drivers with a long claim history.
• Driving Data Discount – People who choose to allow data collection to monitor driving habits by installing a telematics device such as State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
• Defensive Driver Discounts – Taking part in a course in driver safety is a good idea and can lower rates if you qualify.
• Theft Deterrent System – Vehicles that have factory anti-theft systems can help prevent theft and that can save you a little bit as well.
• One Accident Forgiven – Not necessarily a discount, but some companies like Liberty Mutual, GEICO and Allstate will forgive one accident without raising rates if you have no claims for a specific time period.
• Discounts for New Vehicles – Buying insurance coverage on a new vehicle can get you a discount because new vehicles have to meet stringent safety requirements.
• Own a Home and Save – Just owning your own home can help you save on insurance because maintaining a house requires personal responsibility.

Discounts lower rates, but most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as comp or med pay. So when it seems like you can get free auto insurance, it doesn’t quite work that way. But all discounts will help lower the premium cost.

The chart below visualizes the comparison of Lexus GS 350 auto insurance rates with and without discounts applied. The data is based on a female driver, no claims or driving violations, Kentucky state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, multi-policy, marriage, and homeowner discounts applied.

Auto insurance companies that may have these benefits may include but are not limited to:

• State Farm
• GEICO
• SAFECO
• Farmers Insurance
• AAA
• USAA

Before you buy a policy, ask all the companies how you can save money. Depending on the company, some discounts might not be offered on policies in Lexington. For a list of companies offering insurance discounts in Kentucky, click here.

When to get professional advice

Keep in mind that when it comes to choosing insurance from an agent or online for your vehicles, there is no cookie cutter policy. Your financial needs are unique.

For example, these questions can aid in determining if your situation might need professional guidance.

• Do I benefit by insuring my home with the same company?
• Is my business laptop covered if it gets stolen from my vehicle?
• Is upholstery damage covered by car insurance?
• Is extra glass coverage worth it?
• Should I file a claim if it’s only slightly more than my deductible?
• What if I owe more than I can insure my car for?
• At what point should I drop full coverage?
• Are rock chip repairs covered?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, take a second and complete this form.