Anyone knows that insurance companies don’t want policyholders to compare prices from other companies. Drivers who get price comparisons are inclined to buy a new policy because they stand a good chance of finding lower prices. Surprisingly, a recent survey revealed that drivers who regularly compared price quotes saved about $865 annually compared to policyholders who never shopped around for lower prices.
If finding discount rates on Toyota Venza insurance is your ultimate objective, then learning about how to find companies and compare cheaper coverage can make it simple to find affordable coverage.
The easiest way to find low-cost car insurance rates is to start comparing prices yearly from companies that insure vehicles in Lexington.
- Step 1: Get a basic knowledge of auto insurance and the measures you can control to keep rates down. Many risk factors that are responsible for high rates such as speeding tickets, careless driving and an unfavorable credit rating can be controlled by making minor driving habit or lifestyle changes. Keep reading for more information to help reduce premium rates and get bigger discounts.
- Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of companies. View insurance agents
- Step 3: Compare the new rates to your existing policy to see if cheaper Venza coverage is available. If you find a lower rate and buy the policy, make sure there is no coverage gap between policies.
- Step 4: Provide proper notification to your current company of your decision to cancel the current policy. Submit the application along with any required down payment for the new coverage. As soon as you have the new policy, place the new proof of insurance paperwork in your vehicle’s glove compartment or console.
An important note is to make sure you enter the same deductibles and limits on every quote and and to compare as many companies as you can. Doing this helps ensure an apples-to-apples comparison and a complete selection of prices.
Buying the cheapest car insurance in Lexington is actually very simple if you learn how to start. If you are paying for car insurance now, you will surely be able to find the best rates using the concepts covered in this article. Nevertheless, Kentucky car owners do need to learn the way insurance companies charge you for coverage and use it to find better rates.
Compare Lexington Toyota Venza insurance price quotes
To find the best auto insurance rates, there are several ways to obtain and compare prices from auto insurance companies in your area. The simplest method to comparison shop is to use the internet to compare rates.
It’s important to know that comparing more prices increases the chance that you will find more affordable rates. Some smaller insurers do not give price estimates online, so it’s important to compare rates from those companies as well.
The companies shown below offer price quotes in Lexington, KY. If your goal is to find the cheapest car insurance in Lexington, we suggest you visit several of them in order to get a fair rate comparison.
Toyota Venza detailed coverage information
The coverage information shown below showcases different coverage prices for Toyota Venza models. Learning a little about how policy premiums are figured can help you make decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Venza 2WD 4-Dr | $304 | $676 | $424 | $26 | $128 | $1,558 | $130 |
| Venza AWD 4-Dr | $304 | $676 | $424 | $26 | $128 | $1,558 | $130 |
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can influence insurance rates noticeably.
The example below demonstrates how deductibles and can raise or lower Toyota Venza premium costs for different insured age categories. The rate quotes are based on a single female driver, full physical damage coverage, and no discounts are factored in.
Safe drivers pay cheaper rates
The example below highlights how traffic violations and at-fault claims drive up Toyota Venza insurance costs for different age groups of insureds. The premiums assume a married male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
Insurance rates based on gender in Lexington
The information below shows the comparison of Toyota Venza insurance premiums for male and female drivers. The rate quotes are based on no claims or violations, full coverage, $1,000 deductibles, marital status is single, and no discounts are applied.
Why you need insurance for your vehicle
Despite the fact that auto insurance is not cheap in Lexington, maintaining insurance may not be optional for several reasons.
- Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability insurance if you want to drive 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.
- If you bought your Toyota Venza with a loan, more than likely the lender will have a requirement that you buy full coverage to protect their interest in the vehicle. If the policy lapses, the bank will be required to insure your Toyota at a much higher rate and require you to reimburse them for it.
- Auto insurance protects both your vehicle and your personal assets. It will also reimburse you for most medical and hospital costs that are the result of an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of having insurance definitely exceed the price paid, particularly if you ever have a claim. According to a 2015 survey, the average American driver is wasting up to $825 a year so compare rates at every renewal to be sure current rates are still competitive.
Save money on Toyota Venza insurance in Lexington with these ten auto insurance discounts
Auto insurance is not inexpensive, but there’s a good chance there are discounts to help offset the cost. Most are applied when you purchase, but a few must be requested specifically before you get the savings.
- E-sign Discounts – Some larger companies provide a small discount just for signing your application on the web.
- Policy Bundle Discount – If you insure your home and vehicles with the same insurance company you could earn a discount of over 10 percent off each policy depending on the company.
- Accident Forgiveness – Not a discount per se, but some insurance companies allow you one accident before raising your premiums so long as you are claim-free for a specific time period.
- Use Seat Belts – Drivers who require all occupants to buckle up before driving may be able to save a few bucks off the PIP or medical payment premium.
- Discounts for Safe Drivers – Drivers who don’t get into accidents can save up to 40% or more on their Lexington car insurance quote as compared to drivers with claims.
- New Car Discount – Buying a new car instead of a used Venza is cheaper because newer models keep occupants safer.
- Discount for Home Ownership – Just being a homeowner can get you a discount because of the fact that having a home requires personal responsibility.
- Discount for Life Insurance – Insurance companies who offer life insurance give a discounted rate on car insurance if you buy life insurance from them.
- Drive Less and Save – Low mileage vehicles may allow you to get lower premium rates on the low mileage vehicles.
- Switch and Save Discount – Some auto insurance companies provide a discount for switching to them early. This discount can save up to 10%.
Just know that most discount credits are not given to the whole policy. Most only reduce specific coverage prices like comprehensive or collision. Despite the fact that it seems like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. But any discount will help lower the cost of your policy.
The example below illustrates the difference between Toyota Venza annual premium costs with and without some available policy discounts. The premiums are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, claim-free, safe-driver, multi-car, and homeowner discounts applied.
To view insurance companies that offer discounts in Lexington, click here.
Local Lexington car insurance agents and car insurance
Many drivers would prefer to buy from a licensed agent and often times that is recommended One of the great benefits of getting online price quotes is the fact that you can find cheap car insurance rates and also buy local.
To find an agent, once you fill out this short form, your coverage information is sent to agents in your area who can give free rate quotes to get your business. You won’t even need to search for any insurance agencies since rate quotes are delivered to you. You can most likely find cheaper rates without the usual hassles of price shopping. In the event you want to compare prices from one company in particular, just jump over to their website to submit a rate quote request.
Deciding on an insurance company shouldn’t rely on just a cheap price quote. Any agent in Lexington should be willing to answer these questions.
- What insurance companies do they recommend if they are an independent agent?
- Is auto insurance their primary focus in Lexington?
- Is every driver in your family covered?
- Is the quote a firm price?
- Will a damage claim use OEM or aftermarket replacement parts?
- What kind of financial rating does the company have?
Auto insurance companies ranked
Choosing the top insurance provider is hard considering how many different companies insure vehicles in Lexington. The company information below could help you decide which auto insurers you want to consider purchasing a policy from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Erie Insurance | 87 | 84 | 85 | 85% | A+ | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Data Source: Insure.com Best Car Insurance Companies
Auto insurance coverage options for a Toyota Venza
Knowing the specifics of a auto insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be confusing and nobody wants to actually read their policy.
Coverage for collisions
This coverage pays for damage to your Venza from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims such as scraping a guard rail, sustaining damage from a pot hole, damaging your car on a curb, backing into a parked car and hitting a mailbox. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also choose a higher deductible on your Venza to save money on collision insurance.
Coverage for medical expenses
Med pay and PIP coverage provide coverage for immediate expenses such as dental work, doctor visits, funeral costs and rehabilitation expenses. They are used to fill the gap from your health insurance program or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Liability coverages
This protects you from damage or injury you incur to a person or their property by causing an accident. It protects YOU against claims from other people, and does not provide coverage for damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/10 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.
Liability coverage pays for claims such as legal defense fees, court costs and emergency aid. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as large an amount as possible. Kentucky state law requires minimum liability limits of 25/50/10 but you should think about purchasing higher limits.
The next chart shows why buying the state minimum limits may not be adequate.
Comprehensive auto insurance
This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like hitting a deer, fire damage, theft and a tree branch falling on your vehicle. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Coverage for uninsured or underinsured drivers
This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Since many Kentucky drivers only carry the minimum required liability limits (which is 25/50/10), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.
Final considerations
We just showed you a lot of information how to compare Toyota Venza insurance rates in Lexington. The most important thing to understand is the more you quote Lexington car insurance, the higher the chance of saving money. You may even find the lowest rates are with an unexpected company.
Consumers change insurance companies for any number of reasons including lack of trust in their agent, being labeled a high risk driver, unfair underwriting practices and delays in responding to claim requests. Regardless of your reason for switching companies, finding the right car insurance provider is not as difficult as it may seem.
As you prepare to switch companies, do not sacrifice coverage to reduce premiums. There are a lot of situations where an insured cut liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The aim is to purchase plenty of coverage at the best possible price and still be able to protect your assets.
To read more, take a look at these articles:
- Get the Right Protection (InsureUonline.org)
- Who Has Affordable Car Insurance Rates for a Ford Explorer in Lexington? (FAQ)
- How Much are Car Insurance Quotes for a Toyota Corolla in Lexington? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)