Would you like to stop wasting money and find cheaper Toyota Land Cruiser insurance in Lexington? Trying to find cheaper insurance for a new or used Toyota Land Cruiser in Kentucky can turn out to be a painful process, but you can learn a few tricks to make it easier.
There are more efficient ways to shop for auto insurance and you need to know the proper way to quote coverages for a new or used Toyota and locate the lowest price from both online companies and Lexington agents.
It goes without saying that auto insurance companies don’t want you comparing rates. People who perform rate comparisons are inclined to buy a new policy because they have a good chance of finding a more affordable policy. A recent survey discovered that consumers who regularly shopped around saved on average $3,450 over four years compared to policyholders who never compared prices.
If finding low prices for insurance in Lexington is your objective, then learning about how to get rate quotes and compare coverage rates can make it easier to find better rates.
You should make it a habit to compare rates on a regular basis since insurance prices are rarely the same from one policy term to another. Even if you got the best rates on Toyota Land Cruiser insurance in Lexington a few years ago you may be paying too much now. Forget all the misinformation about auto insurance because you’re about to find out the fastest way to get good coverage on Toyota Land Cruiser insurance in Lexington at a lower rate.
Lowering your auto insurance rates is actually easier than you may think. All you need to do is spend a few minutes comparing free Lexington car insurance quotes to find the company with the cheapest Toyota Land Cruiser rate quotes.
The following companies offer free rate quotes in Kentucky. To buy the best cheap car insurance in Lexington, we recommend you visit as many as you can in order to get a fair rate comparison.
Cheaper Toyota Land Cruiser insurance in Lexington
Insurance is neither fun to buy or cheap, but you may qualify for discounts that can drop the cost substantially. Most are applied at quote time, but a few must be requested specifically before being credited.
- New Vehicle Savings – Buying coverage on a new vehicle is cheaper since newer models have better safety ratings.
- Passive Restraints – Cars that have air bags or motorized seat belts may get savings as much as 30%.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class as it can save substantially.
- Sign Online – A few larger online companies may give you up to $50 for signing up digitally online.
- Discount for Home Ownership – Just being a homeowner can help you save on insurance because maintaining a house requires personal responsibility.
- Pay Now and Pay Less – By making one initial payment as opposed to paying monthly you can avoid monthly service charges.
- Smart Student Discounts – Performing well in school can earn a discount of 20% or more. The discount lasts well after school through age 25.
- Drive Less and Save – Maintaining low annual mileage could be rewarded with discounted insurance rates on garaged vehicles.
It’s important to note that some of the credits will not apply to the entire cost. Most only apply to specific coverage prices like physical damage coverage or medical payments. So even though you would think all the discounts add up to a free policy, you’re out of luck.
The chart below compares Toyota Land Cruiser auto insurance rates with and without some available policy discounts. The premium estimates are based on a female driver, no claims, a clean driving record, Kentucky state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, homeowner, multi-policy, and claim-free discounts applied.
A list of insurance companies and their offered discounts are detailed below.
- Farm Bureau includes discounts for 55 and retired, youthful driver, safe driver, renewal discount, good student, and multi-policy.
- MetLife may offer discounts for good driver, multi-policy, defensive driver, claim-free, accident-free, and good student.
- Progressive offers discounts for online signing, online quote discount, good student, continuous coverage, and multi-vehicle.
- AAA has discounts for education and occupation, good student, pay-in-full, AAA membership discount, multi-car, anti-theft, and multi-policy.
- American Family may include discounts for bundled insurance, accident-free, Steer into Savings, early bird, good driver, and multi-vehicle.
- GEICO offers premium reductions for multi-vehicle, five-year accident-free, multi-policy, daytime running lights, seat belt use, and emergency military deployment.
- State Farm offers discounts including student away at school, accident-free, good student, driver’s education, defensive driving training, anti-theft, and multiple policy.
If you need affordable Toyota Land Cruiser insurance quotes, ask all companies you are considering to give you their best rates. A few discounts may not apply to policyholders in your state.
Toyota Land Cruiser coverage analysis
The price information below outlines different insurance costs for Toyota Land Cruiser models. Being more informed about how rates are determined can help drivers make smart choices when comparing insurance quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in specific location which can raise or lower rates noticeably.
The illustration below demonstrates how deductible levels and can impact Toyota Land Cruiser insurance premiums for different age groups. The premium estimates are based on a married female driver, full coverage, and no discounts are taken into consideration.
Toyota Land Cruiser insurance costs by age and gender
The illustration below illustrates the comparison of Toyota Land Cruiser car insurance rates for male and female drivers. The price estimates are based on no claims or driving citations, comprehensive and collision coverage, $250 deductibles, drivers are not married, and no policy discounts are applied.
Difference between full coverage and liability only rates
The diagram below illustrates the comparison of Toyota Land Cruiser auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The price estimates are based on no violations or claims, $250 deductibles, marital status is single, and no additional discounts are factored in.
Should you pay for full coverage or liability only?
There is no specific rule of when to stop paying for physical damage coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Toyota Land Cruiser claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $4,000 after paying your deductible. If premiums are more than $400 a year to have full coverage, then it might be time to consider dropping full coverage.
There are some circumstances where removing full coverage is not a good plan. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
Exclusive or independent insurance agencies
Many people would rather get professional advice from a licensed agent and that can be a smart move Professional agents can help determine the best coverages and help file insurance claims. A good thing about comparing rates online is you can get cheap car insurance rates and still have an agent to talk to. And buying from local insurance agents is important especially in Lexington.
After filling out this form (opens in new window), your coverage information is immediately sent to insurance agents in Lexington who will return price quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to drive around because quoted prices will be sent straight to your inbox. If you wish to get a price quote from a specific insurance company, feel free to search and find their rate quote page and submit a quote form there.
If you would like to find a reputable insurance agent or broker, it can be helpful to understand the types of insurance agents and how they are distinctly different. Car insurance agents in Lexington can be categorized as either independent (non-exclusive) or exclusive. Either one can write policy coverage, but it’s a good idea to understand why they differ since it can impact your agent selection.
Independent Car Insurance Agencies
Independent agents are not locked into one company and that enables them to quote your coverage with many different companies and help determine which has the cheapest rates. If they find a lower price, an independent agent can move your coverage and you can keep the same agent. When comparing car insurance rates, we highly recommend that you get quotes from several independent agencies to get the best comparison. They also have the ability to place coverage with small mutual carriers which can be an advantage.
The following is a partial list of independent agencies in Lexington who may provide cheap rate quotes.
- Nationwide Insurance: Bryan Joseph Mitchell Agency
252 E Third St – Lexington, KY 40508 – (859) 293-2253 – View Map
- Kentucky Insurance Inc
1750 Alexandria Dr – Lexington, KY 40504 – (859) 277-8877 – View Map
- Lexington Insurance Agency, Inc.
465 E High St #101 – Lexington, KY 40507 – (859) 253-6570 – View Map
Exclusive Car Insurance Agents
Agents of this type work for only one company and examples are Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents cannot compare other company’s rates so they really need to provide good service. Exclusive insurance agents are well schooled on their company’s products which helps them sell on service rather than price. Drivers often use the same exclusive agent partially due to the prominent brand name and the convenience of having all coverages with one company.
Below is a short list of exclusive insurance agents in Lexington that can give you rate quotes.
- State Farm: Mike Brownell
501 Darby Creek Rd – Lexington, KY 40509 – (859) 543-8454 – View Map
- Allstate Insurance: Mike Ison
2121 Richmond Rd Ste 145 – Lexington, KY 40502 – (859) 268-8850 – View Map
- Jeff Briggs – State Farm Insurance Agent
449 Lewis Hargett Cir #150 – Lexington, KY 40503 – (859) 273-8512 – View Map
Selecting an insurance agency is decision based upon more than just the price. Agents should be asked these questions:
- Which companies do they recommend if they are an independent agency?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- How long has the business existed?
- How many years of experience in personal auto insurance do they have?
- Does the agent have a valid license to sell insurance in Kentucky?
You are unique and your auto insurance should be too
When choosing your policy for your vehicles, there really isn’t a single plan that fits everyone. Everyone’s situation is a little different.
These are some specific questions might help in determining whether your personal situation may require specific advice.
- Are split liability limits better than a combined single limit?
- How much coverage applies to personal belongings?
- Do I pay less if my vehicle is kept in my garage?
- Am I covered when driving in Canada or Mexico?
- Can I get by with minimal medical coverage if I have good health insurance?
- When would I need rental car insurance?
If you can’t answer these questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, complete this form. It’s fast, free and may give you better protection.
How You Can Control Toyota Land Cruiser Insurance Costs
Many different elements are part of the equation when you quote your car insurance policy. Most are fairly basic such as your driving record, but others are not as apparent such as whether you are married or your financial responsibility. One of the most helpful ways to save on car insurance is to to have a grasp of the factors that aid in calculating your premiums. If you have a feel for what determines base rates, this enables informed choices that may reward you with better car insurance rates.
Shown below are some of the factors that factor into rates.
What are good liability insurance limits? – Your car insurance policy’s liability coverage will protect you if ever you are ruled to be at fault for an accident. It provides legal defense which can cost a lot. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not skimp.
Do safer cars cost less to insure? – Cars with five star safety ratings can get you lower premiums. These vehicles result in less severe injuries and fewer injuries means your insurance company pays less and thus lower rates. If the Toyota Land Cruiser earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
Frequent claims will increase rates – If you file a lot of claims you can definitely plan on increased rates or even have your policy non-renewed. Companies in Kentucky award discounts to drivers who file claims infrequently. Your insurance policy is intended to be relied upon for claims that pose a financial burden.
Marriage discount – Being married actually saves money on your policy. Having a significant other translates into being less irresponsible and insurance companies reward insureds because drivers who are married are more cautious.
Car insurance policy lapses raise prices – Driving any period of time without insurance is a misdemeanor and as a result your rates will increase for letting your insurance lapse. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you fines or a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with the Kentucky motor vehicle department to get your license reinstated.
Loss probability for a Toyota Land Cruiser – Car insurance companies use statistical claims data when setting premium rates. Models that are shown to have higher number or severity of losses will have higher rates. The table shown below demonstrates the actual insurance loss data for Toyota Land Cruiser vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make or model, is represented as 100. Numbers below 100 indicate better than average losses, while values over 100 point to more claims or a tendency for claims to be larger.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Land Cruiser 4dr 4WD||94||88||171|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need Land Cruiser insurance in Kentucky
Even though it’s not necessarily cheap to insure a Toyota in Lexington, maintaining insurance is required in Kentucky but it also protects you in many ways.
- The majority of states have compulsory liability insurance requirements which means state laws require specific minimum amounts of liability protection in order to drive the car. 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 with a loan, most lenders will require that you have physical damage coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the bank may insure your Toyota at a much higher premium rate and force you to pay for it.
- Insurance preserves both your Toyota and your assets. It will also reimburse you for medical expenses for yourself as well as anyone injured by you. Liability insurance will also pay for a defense attorney if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will cover the repair costs.
The benefits of insuring your Land Cruiser outweigh the cost, particularly for liability claims. According to a recent study, the average American driver is overpaying over $865 each year so you should quote your policy with other companies at every renewal to ensure rates are competitive.
More effort can pay off
While you’re price shopping online, it’s very important that you do not skimp on coverage in order to save money. There have been many situations where an insured dropped collision coverage only to discover later that they should have had better coverage. The ultimate goal is to purchase a proper amount of coverage at the best price and still be able to protect your assets.
We just presented a lot of techniques to save on Toyota Land Cruiser insurance in Lexington. The most important thing to understand is the more companies you get rates for, the better your comparison will be. Drivers may even discover the best price on insurance is with a smaller regional carrier.
Some insurance companies do not provide online quoting and these smaller providers prefer to sell through independent insurance agencies. Low-cost Toyota Land Cruiser insurance in Lexington is definitely available on the web as well as from independent agents in Lexington, and you should compare price quotes from both so you have a total pricing picture.
How to buy cheaper Toyota Land Cruiser insurance in Lexington
The recommended way to find cheaper quotes for auto insurance rates is to compare quotes once a year from companies in Lexington.
First, gain an understanding of coverages and the measures you can control to keep rates in check. Many things that cause high rates like speeding and a low credit rating can be amended by making minor changes to your lifestyle.
Second, quote rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from a single company like GEICO or State Farm, while independent agencies can provide price quotes from multiple insurance companies.
Third, compare the new rates to your existing policy to determine if you can save on Land Cruiser insurance. If you can save money, make sure there is no lapse in coverage.
Fourth, notify your agent or company to cancel your current car insurance policy and submit any necessary down payment along with the completed application to the new company. Don’t forget to place the new proof of insurance certificate in an accessible location in your vehicle.
An essential thing to point out is to use similar coverage information on each quote request and and to get rate quotes from as many car insurance companies as possible. Doing this guarantees a level playing field and the best price quote selection.
Much more information about insurance in Kentucky is available on the following sites:
- Your Car has been Stolen: Now What? (Allstate)
- Who Has Cheap Car Insurance for Welfare Recipients in Lexington? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Jeep Wrangler in Lexington? (FAQ)
- How Much is Car Insurance for Homeowners in Lexington? (FAQ)
- Who Has Affordable Auto Insurance for Low Mileage Drivers in Lexington? (FAQ)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Drunk Driving Statistics (Insurance Information Institute)
- State Laws for Cellphones and Texting (iihs.org)