The best way we recommend to get low-cost car insurance rates is to do an annual price comparison from providers who provide car insurance in Lexington.
- It will benefit you to learn about car insurance and the factors you can control to prevent rate increases. Many things that cause high rates like getting speeding tickets and bad credit can be controlled by making minor driving habit or lifestyle changes. Read the full article for more ideas to help prevent costly coverage and find additional discounts you may qualify for.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like GEICO or Allstate, while independent agencies can quote rates for a wide range of insurance providers. Find a Lexington insurance agent
- Compare the quotes to your existing rates to see if you can save by switching companies. If you find better rates and change companies, make sure coverage does not lapse between policies.
A good piece of advice is to use the same liability limits and deductibles on each quote and and to look at as many companies as feasibly possible. Doing this enables an accurate price comparison and a thorough price selection.
Astonishing but true according to a recent study, nearly 70% of drivers have purchased from the same company for a minimum of four years, and nearly half have never shopped around. Many consumers in Lexington could pocket approximately 30% a year just by getting comparison quotes, but they underestimate the large savings they would see if they switch to a new company.
Finding affordable coverage in Lexington can be easy if you know a few tricks. If you have coverage now, you will definitely be able to find the best rates using the concepts you’re about to learn. Smart buyers just need to use the least time-consuming way to find the lowest price from many companies at once.
All the larger insurance companies like State Farm, GEICO and Progressive give coverage prices online. The process is pretty painless as you simply enter your coverage information as requested by the quote form. Once you submit the form, the system sends out for your driving record and credit report and generates pricing information based on the information you submitted.
This makes it simple to compare prices and it is important to compare as many rates as possible in order to find cheap rates.
To save time and compare pricing, compare quotes from the companies shown below. If you have your current policy handy, we recommend you duplicate the coverages exactly as they are listed on your policy. This helps ensure you’re receiving comparison quotes using the exact same coverages.
The companies shown below have been selected to offer free quotes in Kentucky. To get cheap auto insurance in Kentucky, it’s a good idea that you click on several of them to get the best price comparison.
Insuring your vehicle just makes sense
Even though it’s not necessarily cheap to insure a Lexus in Lexington, auto insurance is mandatory in Kentucky but it also protects more than you think.
- Just about all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability protection 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 Lexus with a loan, more than likely the lender will require that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the bank may buy a policy for your Lexus at a significantly higher premium and make you pay the higher premium.
- Insurance protects both your assets and your Lexus. Insurance will also pay for medical bills for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If mother nature or an accident damages your car, your auto insurance policy will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance are without a doubt worth the cost, specifically if you ever have a liability claim. An average driver in America is wasting up to $865 each year so compare rate quotes each time the policy renews to make sure the price is not too high.
Data for Lexus IS 350 insurance
The price information displayed below covers estimates of insurance costs for Lexus IS 350 models. Knowing how rate quotes are established can benefit drivers when making decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 350 4-Dr Sedan||$322||$634||$336||$20||$100||$1,412||$118|
|IS 350 C 2-Dr Convertible||$322||$634||$336||$20||$100||$1,412||$118|
|Get Your Own Custom Quote Go|
Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can modify prices considerably.
How much more does full coverage cost?
The example below shows the difference between Lexus IS 350 premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no driving violations, no at-fault accidents, $100 deductibles, drivers are single, and no additional discounts are factored in.
When to drop comp and collision
There isn’t a steadfast formula of when to stop paying for full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Lexus IS 350 claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after you pay the deductible. If it’s costing you more than $800 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some cases where only buying liability is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.
Affordable Lexington auto insurance rates with discounts
Car insurance companies don’t always advertise every discount available very well, so we researched both well-publicized and the harder-to-find credits available to bring down your rates.
- Professional Organizations – Joining a professional or civic organization may earn a discount on your policy.
- Early Renewal Discounts – Select larger companies give a discount for switching policies prior to your current IS 350 insurance policy expiration. It can save you around 10%.
- Distant Student – Children who are enrolled in higher education away from home without a vehicle on campus may qualify for this discount.
- No Charge for an Accident – Not a discount per se, but some companies like Progressive, Allstate, and GEICO may permit one accident without the usual rate increase with the catch being you have to be claim-free for a specific time period.
- Multiple Policy Discount – If you can combine your auto and homeowners policy with the same company you may save over 10 percent off each policy depending on the company.
- Telematics Data – Lexington drivers who agree to allow their insurance company to scrutinize driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive may get a rate reduction if their driving habits are good.
- Save over 55 – Drivers that qualify as senior citizens can possibly qualify for a discount up to 10%.
- Pay Upfront and Save – If you pay your entire premium ahead of time instead of making monthly payments you could save 5% or more.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to the overall cost of the policy. A few only apply to specific coverage prices like liability, collision or medical payments. So even though you would think all the discounts add up to a free policy, companies wouldn’t make money that way.
The example below visualizes the comparison of Lexus IS 350 car insurance costs with and without discounts. The prices are based on a male driver, no accidents or driving violations, 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 claim-free, marriage, safe-driver, multi-policy, multi-car, and homeowner discounts applied.
To view companies who offer discounts in Lexington, click here.
Which policy gives me the best coverage?
When quoting and comparing the right insurance coverage for your personal vehicles, there really is no perfect coverage plan. Everyone’s needs are different.
For example, these questions can aid in determining if you may require specific advice.
- Is there coverage for injuries to my pets?
- Why do I have to buy liability insurance?
- Is my cargo covered for damage or theft?
- Can I insure my car for more than it’s worth?
- Is there a penalty for late payment?
- Is my custom paint covered by insurance?
- Does insurance cover tools stolen from my truck?
If it’s difficult to answer those questions, you might consider talking to an insurance agent. If you don’t have a local agent, take a second and complete this form. It’s fast, free and may give you better protection.
Which auto insurance company is best in Kentucky?
Finding a highly-rated auto insurance provider is hard considering how many companies sell insurance in Kentucky. The information below may help you select which companies you want to consider when shopping around.
Top 10 Lexington Car Insurance Companies Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- The Hartford