Consumers who are new to price shopping insurance coverage online may discover locating the cheapest Toyota Highlander insurance in Lexington can be quite difficult.
How to find better rates for Toyota Highlander insurance in Lexington
It takes a few minutes, but the best way to find cheaper quotes for car insurance rates in Lexington is to compare quotes annually from insurance carriers that insure vehicles in Kentucky.
First, try to learn a little about the different coverages in a policy and the steps you can take to prevent expensive coverage. Many policy risk factors that result in higher rates such as your driving record and poor credit rating can be amended by paying attention to minor details. Read the full article for more ideas to help find cheaper rates and get discounts that may be overlooked.
Second, compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from a single company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from many different companies. View a list of agents
Third, compare the new quotes to your existing rates to see if you can save by switching companies. If you find a better price, make sure coverage is continuous and does not lapse.
One key aspect when comparing rates is that you’ll want to compare identical limits and deductibles on each price quote and and to get quotes from every insurance company. This ensures a fair rate comparison and many rates to choose from.
It’s well known that auto insurance companies don’t want you quoting rates from other companies. Drivers who get comparison quotes at least once a year are highly likely to move their business because there is a high probability of finding a lower-cost company. Surprisingly, a recent survey revealed that people who regularly compared price quotes saved as much as $3,450 over four years compared to other drivers who don’t regularly compare prices.
If finding discount rates on auto insurance in Lexington is the reason you’re reading this, then having a grasp of how to get price quotes and compare cheaper coverage can make shopping around easier.
It is always a good idea to compare rates quite often because prices change regularly. Just because you found the best deal on Toyota Highlander insurance in Lexington six months ago you can probably find a better rate quote now. Forget all the misinformation about car insurance because we’re going to demonstrate one of the easiest ways to buy cheaper Toyota Highlander insurance in Lexington.
Buy Lexington Toyota Highlander insurance online
When comparing auto insurance rates, know that making a lot of price comparisons increases the chance that you will find a lower rate than you’re paying now.
The providers in the list below are our best choices to provide quotes in Kentucky. To locate cheap car insurance in Lexington, we suggest you visit two to three different companies in order to find the lowest rates.
Why you need insurance for your Toyota Highlander
Even though it can be expensive, insurance may not be optional for several reasons.
- Most states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability coverage in order to get the vehicle licensed. 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 vehicle, most lenders will require you to have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the lender may insure your Toyota at a much higher premium rate and force you to pay much more than you were paying before.
- Insurance protects both your vehicle and your assets. It will also reimburse you for hospital and medical expenses that are the result of an accident. Liability insurance will also pay attorney fees if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, your insurance policy will cover the repair costs.
The benefits of buying insurance greatly outweigh the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer is overpaying over $869 every year so compare quotes from several companies at every policy renewal to help ensure money is not being wasted.
Facts and figures for Toyota Highlander insurance
The table shown below showcases estimates of insurance policy prices for Toyota Highlander models. Being more informed about how insurance quotes are determined can be of help when making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $280 | $430 | $440 | $26 | $132 | $1,308 | $109 |
| Highlander 4WD | $316 | $524 | $440 | $26 | $132 | $1,438 | $120 |
| Highlander Sport 4WD | $316 | $524 | $440 | $26 | $132 | $1,438 | $120 |
| Highlander SE 2WD | $316 | $524 | $440 | $26 | $132 | $1,438 | $120 |
| Highlander Sport 2WD | $316 | $524 | $440 | $26 | $132 | $1,438 | $120 |
| Highlander Limited 2WD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Highlander SE 4WD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Highlander Limited 4WD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Highlander Hybrid 4WD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Highlander Hybrid Limited 4WD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Information does not factor in vehicle location which can revise auto insurance rates considerably.
Policy deductible comparison
The hardest decision when buying coverage is which deductibles should you choose. The following tables may help to illustrate the rate difference when you buy lower versus higher insurance deductibles. The first data set uses a $250 physical damage deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $252 | $350 | $326 | $20 | $98 | $1,071 | $89 |
| Highlander 4WD | $284 | $426 | $326 | $20 | $98 | $1,179 | $98 |
| Highlander Sport 4WD | $284 | $426 | $326 | $20 | $98 | $1,179 | $98 |
| Highlander SE 2WD | $284 | $426 | $326 | $20 | $98 | $1,179 | $98 |
| Highlander Sport 2WD | $284 | $426 | $326 | $20 | $98 | $1,179 | $98 |
| Highlander Limited 2WD | $318 | $500 | $326 | $20 | $98 | $1,287 | $107 |
| Highlander SE 4WD | $318 | $500 | $326 | $20 | $98 | $1,287 | $107 |
| Highlander Limited 4WD | $318 | $500 | $326 | $20 | $98 | $1,287 | $107 |
| Highlander Hybrid 4WD | $318 | $500 | $326 | $20 | $98 | $1,287 | $107 |
| Highlander Hybrid Limited 4WD | $318 | $500 | $326 | $20 | $98 | $1,287 | $107 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $156 | $220 | $326 | $20 | $98 | $820 | $68 |
| Highlander 4WD | $176 | $268 | $326 | $20 | $98 | $888 | $74 |
| Highlander Sport 4WD | $176 | $268 | $326 | $20 | $98 | $888 | $74 |
| Highlander SE 2WD | $176 | $268 | $326 | $20 | $98 | $888 | $74 |
| Highlander Sport 2WD | $176 | $268 | $326 | $20 | $98 | $888 | $74 |
| Highlander Limited 2WD | $196 | $316 | $326 | $20 | $98 | $956 | $80 |
| Highlander SE 4WD | $196 | $316 | $326 | $20 | $98 | $956 | $80 |
| Highlander Limited 4WD | $196 | $316 | $326 | $20 | $98 | $956 | $80 |
| Highlander Hybrid 4WD | $196 | $316 | $326 | $20 | $98 | $956 | $80 |
| Highlander Hybrid Limited 4WD | $196 | $316 | $326 | $20 | $98 | $956 | $80 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Price information does not factor in Lexington location which can lower or raise premiums substantially.
Based on this data, using a $250 deductible will cost you approximately $26 more each month or $312 a year than choosing the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 29 months between claim filings, you would save more money if you choose a higher deductible.
Impact of speeding/accidents on Lexington insurance rates
The information below illustrates how violations and at-fault accidents can drive up Toyota Highlander auto insurance rates for different categories of driver ages. The costs are based on a married female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
Rate comparison of full coverage and liability-only
The information below illustrates the comparison of Toyota Highlander insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The information is based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are applied.
Guidelines for dropping full coverage
There is no specific rule for phasing out physical damage coverage, but there is a general school of thought. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Toyota Highlander settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after paying your deductible. If it’s costing in excess of $800 a year for physical damage coverage, then it could be time to drop full coverage.
There are a few cases where eliminating full coverage is not a good plan. If you haven’t paid off your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Do you qualify for discounts on Toyota Highlander insurance in Lexington?
Not many people think insurance is cheap, but you might already qualify for some discounts to help bring down the price. A few discounts will automatically apply at quote time, but once in a while a discount must be requested specifically before being credited.
- Discount for Home Ownership – Just owning your own home can save you money since owning and maintaining a home shows financial diligence.
- Driver Training Discounts – Successfully completing a course that instructs on driving safety can save you 5% or more and make you a better driver.
- Cautious Driver Discounts – Insureds without accidents could pay up to 40% less than less cautious drivers.
- Waiver for an Accident – This one isn’t a discount, but certain companies permit an accident without the usual rate increase if you have no claims before the accident.
- College Student Discount – Older children living away from Lexington attending college and don’t have a car may qualify for this discount.
- Employee of Federal Government – Federal government employees could qualify for a slight premium decrease depending on your insurance provider.
Keep in mind that many deductions do not apply to the whole policy. A few only apply to the cost of specific coverages such as liability and collision coverage. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way.
The diagram below illustrates the comparison of Toyota Highlander car insurance costs with and without discounts applied to the policy rates. The data assumes a female driver, no accidents or driving violations, Kentucky state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, marriage, claim-free, safe-driver, and multi-car discounts applied.
Popular insurance companies and their possible discounts include:
- GEICO may have discounts that include emergency military deployment, driver training, defensive driver, multi-vehicle, and membership and employees.
- Mercury Insurance discounts include multi-car, ease of repair, anti-theft, accident-free, low natural disaster claims, and annual mileage.
- Farmers Insurance may offer discounts for early shopping, good student, pay in full, business and professional, and alternative fuel.
- Auto-Owners Insurance policyholders can earn discounts including company car, good student, safe vehicle, teen driver, and student away at school.
- Liberty Mutual has discounts for new move discount, teen driver discount, new vehicle discount, new graduate, newly married, safety features, and multi-policy.
- SAFECO has savings for safe driver, anti-theft, teen safe driver, homeowner, drive less, and anti-lock brakes.
- Progressive offers premium reductions for good student, continuous coverage, multi-vehicle, multi-policy, homeowner, online signing, and online quote discount.
- USAA includes discounts for new vehicle, annual mileage, military installation, family discount, and multi-policy.
Before you buy a policy, ask each company which discounts can lower your rates. Depending on the company, some discounts might not be available to policyholders in Lexington. To find providers that offer multiple discounts in Kentucky, click here to view.