Cheap Insurance for a Lexus HS 250h in Lexington

Astonishing but true according to a recent study, 70% of consumers kept their policy with the same company for a minimum of four years, and roughly 40% of drivers have never compared rates with other companies. With the average premium in Kentucky being $2,134, drivers can cut their rates by approximately 30% a year just by getting comparison quotes, but they don’t invest the time required to compare rates online.

It takes a few minutes, but the best way to find low-cost Lexus HS 250h insurance in Lexington is to regularly compare prices from companies that sell auto insurance in Kentucky. Prices can be compared by following these guidelines.

1. Try to learn a little about how insurance companies determine prices and the steps you can take to prevent high rates. Many factors that are responsible for high rates such as at-fault accidents and a bad credit rating can be improved by being financially responsible and driving safely.
2. Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agents can provide rate quotes for a wide range of companies.
3. Compare the new quotes to the price on your current policy to determine if you can save on HS 250h insurance. If you find a better price and make a switch, ensure coverage does not lapse between policies.
4. Tell your current company of your intention to cancel your current car insurance policy. Submit the required down payment along with the signed application to the new insurer. As soon as you can, safely store the certificate of insurance with your registration paperwork.

An important bit of advice to remember is to try to use identical deductibles and limits on each quote and and to get rates from as many carriers as you can. This provides a level playing field and a good representation of prices.

If you are insured now, you will definitely be able to reduce premiums using this strategy. Buying the most affordable coverage in Lexington is not as time-consuming as you think. But Kentucky vehicle owners do need to understand how companies calculate your policy premium because it varies considerably.

To find low cost rates, there are a couple of ways of comparing rate quotes from companies that offer auto insurance in Kentucky. The easiest way by far to find competitive Lexus HS 250h insurance rates consists of obtaining rate quotes online.

When quoting auto insurance, remember that having more price comparisons will enable you to find a better price. Not every company does online rate quotes, so it’s important to compare price estimates on coverage from those companies, too.

The providers in the list below have been selected to offer quotes in Lexington, KY. If you want the best auto insurance in Lexington, we recommend you get rate quotes from several of them in order to get a fair rate comparison.

Three good reasons to insure your vehicle

Despite the fact that auto insurance is not cheap in Lexington, insuring your vehicle may be required and benefits you in several ways.

First, the majority of states have minimum mandated liability insurance limits which means you are required to carry specific limits of liability insurance coverage in order to drive the car legally. 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.

Second, if you have a loan on your HS 250h, most lenders will have a requirement that you buy full coverage to guarantee loan repayment. If you let the policy lapse, the lender may insure your Lexus at a significantly higher premium and require you to fork over for it.

Third, insurance safeguards both your assets and your car. Insurance will pay for most medical and hospital costs incurred in an accident. Liability coverage, the one required by state law, will also pay to defend you if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.

The benefits of carrying enough insurance are without a doubt worth the cost, particularly when you have a large claim. According to a recent study, the average American driver is overpaying more than $850 per year so compare rate quotes at every renewal to be sure current rates are still competitive.

Lexus HS 250h coverage analysis

The premium information shown next covers a range of insurance prices for Lexus HS 250h models. Having knowledge of how insurance rates are determined can be of help when making informed decisions when shopping around for a new policy.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in vehicle location which can affect rates considerably.

Raise deductibles and save

One of the most common auto insurance questions is how high should your deductibles be. The rates below summarize the costs and benefits between low and high comp and collision deductibles. The first rate quote example uses a $100 physical damage coverage deductible and the second price table 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 multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Premium amounts do not factor in specific location information which can decrease or increase auto insurance rates greatly.

Based on the above data, using a $100 deductible will cost you roughly $28 more each month or $336 a year than quoting the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 14 months between claim filings, you would save more money if you choose a higher deductible.

The example below demonstrates how choosing different deductibles and can influence Lexus HS 250h insurance rates for each age group. The costs are based on a married male driver, comp and collision included, and no other discounts are factored in.

Careless driving habits raise Lexington auto insurance rates

The diagram below demonstrates how traffic citations and at-fault fender-benders impact Lexus HS 250h auto insurance costs for different age groups. The data assumes a single male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.

Does full coverage make sense?

The illustration below compares Lexus HS 250h car insurance rates with full coverage compared to only the Kentucky minimum liability coverage. The rate quotes are based on no accidents, no driving violations, $100 deductibles, single marital status, and no additional discounts are factored in.

When to drop comprehensive and collision

There is no set guideline of when to exclude full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s pretend your Lexus HS 250h replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after paying your policy deductible. If you are paying more than $300 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are some cases where eliminating full coverage is not a good plan. If you still owe a portion of the original loan, you have to keep full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Take policy discounts and save on Lexus HS 250h insurance in Lexington

Auto insurance is not cheap nor is it fun to buy but there may be some discounts that you may not even know about. Certain credits will be shown at quote time, but some may not be applied and must be asked for before you will receive the discount. If you do not check that you are getting every discount you deserve, you may be paying too high a price.

• Defensive Driver Discounts – Passing a defensive driving class may get you a small discount and easily recoup the cost of the course.
• Auto/Home Discount – If you can combine your auto and home policy with the same company you may save up to 20% off your total HS 250h insurance premium.
• Government Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease with certain companies.
• Passive Restraints – Options like air bags can qualify for discounts of 20 to 30 percent.
• Accident Forgiveness – This isn’t a discount exactly, but companies like Allstate and Progressive allow you one accident before hitting you with a surcharge so long as you are claim-free for a specific time period.
• Seat Belts Save – Requiring all passengers to buckle their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
• Military Discounts – Being deployed with a military unit could mean lower prices.
• Telematics Data Discounts – Lexington drivers who agree to allow driving data collection to spy on their driving habits by installing a telematics device such as Progressive’s Snapshot may see discounts as long as they are good drivers.

Just know that most credits do not apply to your bottom line cost. Most cut the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears it’s possible to get free car insurance, nobody gets a free ride. Any amount of discount should definitely cut your auto insurance premiums.

The example below illustrates the comparison of Lexus HS 250h annual premium costs with and without policy discounts. Data assumes a male driver, no driving violations, no at-fault accidents, Kentucky state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, claim-free, multi-policy, and homeowner discounts applied.

A few of the larger companies and a selection of discounts can be found below.

• American Family has discounts for good student, defensive driver, air bags, early bird, multi-vehicle, and bundled insurance.
• State Farm may include discounts for student away at school, driver’s education, Steer Clear safe driver discount, accident-free, good student, and passive restraint.
• 21st Century includes discounts for driver training, defensive driver, early bird, homeowners, and theft prevention.
• Travelers offers discounts including IntelliDrive, student away at school, driver training, payment discounts, multi-car, home ownership, and multi-policy.
• GEICO may have discounts that include good student, multi-policy, air bags, emergency military deployment, seat belt use, daytime running lights, and anti-theft.

When getting a coverage quote, ask all the companies which discounts they offer. Savings may not apply to policies in every state. To find insurance companies who offer discounts in Lexington, click here to view.

Local neighborhood Lexington car insurance agents

Many people just prefer to go talk to an agent and that is recommended in a lot of cases A good thing about comparing rate quotes online is that drivers can save money and get cheap insurance quotes and still have a local agent. Supporting local agents is still important in Lexington.

Upon completion of this quick form, the quote information is immediately sent to participating agents in Lexington that can provide free Lexington car insurance quotes and help you find cheaper coverage. You won’t need to contact any agents because quoted prices will be sent directly to you. You can get cheaper insurance rates and a licensed agent to talk to. If you want to get a comparison quote from one company in particular, you would need to find their quoting web page and complete a quote there.

If you want a local insurance agency, it helps to know the two different agency structures and how they work. Agents in Lexington are categorized either independent (non-exclusive) or exclusive.

Independent Insurance Agencies

These type of agents are not restricted to one company and that allows them to write policies amongst many companies and help determine which has the cheapest rates. If you are not satisfied with one company, the business is moved internally and you stay with the same agent.

When comparing rates, it’s recommended you get rate quotes from at least one independent agent so that you can do a thorough price comparison. Most also write with companies that do not advertise much which can save you money.

Shown below is a small list of independent agencies in Lexington that may be able to provide free insurance rate quotes.

• Sullivan Insurance Agency
  635 N Broadway – Lexington, KY 40508 – (859) 233-1637 – View Map
• Ky Insurance and Investment
  1801 Alexandria Dr – Lexington, KY 40504 – (859) 373-1282 – View Map
• Kelly Wooten Insurance Agency
  2331 Fortune Dr #175 – Lexington, KY 40509 – (859) 278-3487 – View Map

View more agents

Exclusive Insurance Agencies

These type of agents work for only one company and some examples include State Farm, Allstate, or Farmers Insurance. They generally cannot give you multiple price quotes so they have no alternatives for high prices. Exclusive agencies are well schooled on their products and sales techniques and that enables them to sell even at higher rates. Some people will only purchase coverage from exclusives mostly because of the brand rather than having low rates.

The following is a list of exclusive agents in Lexington willing to provide price quotes.

• Stewart Perry – State Farm Insurance Agent
  2128 Nicholasville Rd – Lexington, KY 40503 – (859) 277-7195 – View Map
• Kentucky Farm Bureau Insurance Fayette County – Versailles Rd
  1316 Versailles Rd – Lexington, KY 40504 – (859) 253-1626 – View Map
• John Parkhurst – State Farm Insurance
  1795 Alysheba Way #2104 – Lexington, KY 40509 – (859) 264-4422 – View Map

View more agents

Deciding on an auto insurance agent is decision based upon more than just the premium amount. Here are some questions you should ask.

• Who is covered by the car insurance policy?
• What insurance companies do they recommend if they are an independent agent?
• Will one accident increase rates?
• Are they involved in claim handling?
• Has the agent ever had any license suspensions?

If you feel you receive acceptable answers and cheaper HS 250h insurance quotes, you may have found a car insurance agent that can provide insurance coverage. Just keep in mind consumers can cancel a policy whenever you want so don’t think that you are obligated to a specific agent for the full policy term.

Quote more to save more

As you prepare to switch companies, make sure you don’t reduce coverage to reduce premium. There are many occasions where someone dropped physical damage coverage and found out when filing a claim that the few dollars in savings costed them thousands. The goal is to get the best coverage possible at an affordable rate, but do not skimp to save money.

Cost effective Lexus HS 250h insurance can be bought online and from local insurance agents, and you should compare price quotes from both to have the best rate selection. Some insurance providers do not provide internet price quotes and usually these regional carriers work with independent agencies.

Insureds change insurance companies for a number of reasons such as poor customer service, policy non-renewal, delays in paying claims and delays in responding to claim requests. Regardless of your reason, choosing a new company is less work than it seems.

To read more, link through to these articles:

• Neck Injury FAQ (iihs.org)
• What Car Insurance is Cheapest for a Nissan Altima in Lexington? (FAQ)
• Who Has Affordable Lexington Car Insurance Quotes for College Students? (FAQ)
• How to Avoid Staged Accidents (State Farm)
• Distracted Driving Extends Beyond Texting (State Farm)
• Cellphones, Texting and Driving (iihs.org)