Cheapest Insurance for a Lexus RX 350 in Lexington

Looking for the cheapest Lexus RX 350 insurance in Lexington? Tired of not being able to afford to pay car insurance each month? You are in the same boat as most other drivers in Kentucky.

It’s an obvious conclusion that car insurance companies don’t want you to look for cheaper rates. People who get comparison quotes once a year will probably switch car insurance companies because there are good odds of finding a lower-cost company. A recent car insurance study discovered that consumers who make a habit of shopping around saved over $72 a month compared to people who didn’t regularly shop around.

If finding the cheapest price on Lexus RX 350 insurance is your objective, then knowing how to quote prices and compare coverage rates can save time and money. Companies like State Farm, Farmers Insurance, GEICO and Allstate increase brand awareness with TV and radio ads and it is difficult to ignore the flying pigs and cute green geckos and find the best price available.

Best Lexus RX 350 insurance price quotes in Kentucky

The auto insurance companies shown below can provide price quotes in Lexington, KY. To get cheap auto insurance in Kentucky, it’s highly recommended you visit as many as you can to get the cheapest price.

Lexus RX 350 coverage analysis

The information shown next showcases a range of insurance coverage prices for Lexus RX 350 models. Knowing how insurance policy premiums are determined is important to be able to make smart choices when purchasing an auto insurance policy.

Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Premium amounts do not factor in specific zip code location which can affect rates greatly.

Physical damage deductible comparison

A question often asked by Lexington drivers is which comprehensive and collision deductibles to buy. The rates shown below may help to illustrate the differences in price when you select higher and lower deductibles. The first price estimate table uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price information does not factor in your specific Lexington location which can modify premium rates greatly.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you roughly $16 more each month or $192 every year than buying the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 16 months between claim filings, you would come out ahead if you choose the higher deductible. The numbers below show the way you can do this calculation yourself.

One big caveat is that increasing deductibles to save money results in having to pay to pay more out-of-pocket when you have a physical damage claim. You need some extra funds in the event you need to pay the higher deductible in order to repair your vehicle.

Rate difference between full and liability-only coverage

The example below shows the difference between Lexus RX 350 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The price estimates are based on no claims, a clean driving record, $1,000 deductibles, marital status is single, and no additional discounts are factored in.

Guidelines for dropping full coverage

There is no exact rule of when to drop full coverage, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your Lexus RX 350 replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $8,000 after paying your policy deductible. If you are paying in excess of $800 a year for your policy with full coverage, then you might want to consider buying only liability coverage.

There are a few cases where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.

Auto insurance policy discounts for Lexus RX 350 insurance in Lexington

Some insurers don’t always list all discounts very well, so we break down both well-publicized in addition to some of the lesser obvious auto insurance savings.

• Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts may be able to save a few bucks off the medical payments premium.
• Own a Home – Just being a homeowner may earn you a small savings because of the fact that having a home demonstrates responsibility.
• Discount for Good Grades – Getting good grades can save 20 to 25%. The discount lasts well after school through age 25.
• Driver Safety – Successfully completing a course in defensive driver could cut 5% off your bill and easily pay for the cost of the class.
• Good Driver Discount – Accident-free drivers can pay as much as 50% less than less cautious drivers.
• Waiver for an Accident – Not really a discount, but some insurance companies will forgive one accident without the usual rate increase if you have no claims prior to being involved in the accident.
• Anti-lock Brake System – Cars and trucks that have steering control and anti-lock brakes have fewer accidents and therefore earn up to a 10% discount.
• Discount for Multiple Policies – If you have multiple policies with the same company you may earn 10% to 20% off each policy.
• Driving Data Discount – Drivers that enable driving data submission to track driving patterns by using a small device installed in their vehicle such as State Farm’s In-Drive may get a rate reduction if they are good drivers.

As a disclaimer on discounts, many deductions do not apply to your bottom line cost. Some only apply to specific coverage prices like medical payments or collision. So when it seems like having all the discounts means you get insurance for free, you aren’t that lucky.

The example below illustrates the comparison of Lexus RX 350 premium costs with and without some available policy discounts. The data is based on a female driver, a clean driving record, no at-fault accidents, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-policy, homeowner, claim-free, and multi-car discounts applied.

Larger auto insurance companies and some of their more popular discounts can be read below.

• 21st Century may include discounts for student driver, defensive driver, 55 and older, anti-lock brakes, and driver training.
• Progressive offers discounts including online signing, multi-policy, good student, online quote discount, and multi-vehicle.
• State Farm includes discounts for multiple policy, Drive Safe & Save, Steer Clear safe driver discount, accident-free, student away at school, and multiple autos.
• Nationwide discounts include business or organization, multi-policy, accident-free, good student, Farm Bureau membership, and defensive driving.
• Esurance offers discounts for multi-car, defensive driver, safety device, good student, and emergency road assistance.
• The Hartford policyholders can earn discounts including air bag, good student, driver training, vehicle fuel type, defensive driver, anti-theft, and bundle.

Double check with all the companies which discounts they offer. All car insurance discounts might not be offered on policies in Lexington. For a list of auto insurance companies who offer free Lexus RX 350 insurance quotes in Lexington, click this link.

When to get professional advice

When it comes to choosing coverage online or from an agent, there really isn’t a “perfect” insurance plan. Every situation is different and your policy should reflect that. For instance, these questions might point out whether or not you might need an agent’s assistance.

• When should I have rental car coverage?
• What does roadside assistance cover?
• Are my friends covered when driving my Lexus RX 350?
• How do I file an SR-22 for a DUI in Kentucky?
• Does having multiple vehicles earn me a discount?
• I don’t drive much so do I pay less?
• Is my business laptop covered if it gets stolen from my vehicle?
• Does car insurance cover theft of personal property?
• Do I need to call my car insurance company before buying a new car?

If you don’t know the answers to these questions then you might want to talk to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies. It only takes a few minutes and can help protect your family.

Auto insurance agents near you

Some people prefer to sit down with an agent and that is recommended in a lot of cases Professional agents are highly skilled in risk management and help file insurance claims. One of the benefits of getting online price quotes is that drivers can save money and get the best rates and still have an agent to talk to.

Once you complete this quick form, the quote information is emailed to local insurance agents that provide free Lexington car insurance quotes for your business. It’s much easier because you don’t need to do any legwork because prices are sent directly to your email. If you want to get a rate quote from a specific insurance company, just find their quoting web page and fill out the quote form the provide.

Picking the best provider requires you to look at more than just the premium amount. Some important questions to ask are:

• Which insurance companies are they affiliated with?
• Are they able to influence company decisions when a claim is filed?
• How does the company pay claims for a total loss?
• Do the agents have professional certifications like CPCU or CIC?
• Do they specialize in personal lines coverage in Lexington?
• What are their preferred companies if they are an independent agency?
• Is working in the agency their full-time job?
• How often do they review coverages?

If you want local Lexington agents, it’s helpful to know the types of agencies and how they differ in how they can insure your vehicles. Agents are categorized either independent agents or exclusive agents depending on their employer. Both can sell insurance policies, but it’s worth learning why they differ because it can impact buying decisions.

Exclusive Insurance Agencies

Exclusive agents work for only one company such as Allstate, State Farm and Farm Bureau. Exclusive agents are unable to compare rates from other companies so they really need to provide good service. These agents receive a lot of sales training on what they offer and that enables them to sell even at higher rates.

Shown below is a short list of exclusive agents in Lexington that can give you comparison quotes.

More Lexington agents

Independent Agencies or Brokers

Agents that elect to be independent are not required to write business for one company so they have the ability to put coverage through many companies and find the cheapest rate. If you want to switch companies, your policy is moved internally and you don’t have to switch agencies. When shopping rates, it’s recommended you get some free quotes from multiple independent agents to ensure the widest selection of prices.

Shown below is a list of independent insurance agencies in Lexington who can help you get price quote information.

More Lexington agents

More effort can pay off

As you go through the steps to switch your coverage, do not skimp on critical coverages to save a buck or two. There are too many instances where drivers have reduced liability coverage limits and learned later that the savings was not a smart move. Your aim should be to get the best coverage possible at the best price while not skimping on critical coverages.

We just showed you a lot of information how to shop for Lexus RX 350 insurance online. The key thing to remember is the more companies you get premium rates for, the better your comparison will be. Consumers could even find that the best price on auto insurance is with a small mutual company. Some small companies may cover specific market segments cheaper than the large multi-state companies such as Allstate or State Farm.

How to find low-cost rates for Lexus RX 350 insurance in Lexington

If you want to find the absolute lowest rates, then the best way to get cheaper Lexus RX 350 insurance is to start comparing prices regularly from providers in Lexington.

• Step 1: Gain an understanding of how your policy works and the things you can change to lower rates. Many things that cause high rates like traffic violations and a lousy credit rating can be improved by being financially responsible and driving safely.
• Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agents can give you price quotes for many different companies.
• Step 3: Compare the quotes to your existing coverage and determine if cheaper RX 350 coverage is available. If you find a better price and make a switch, make sure coverage is continuous and does not lapse.
• Step 4: Provide notification to your current agent or company of your intention to cancel your existing policy and submit a down payment along with a signed application for the new coverage. Once the paperwork is finalized, safely store the certificate of insurance in an accessible location in your vehicle.

One important bit of advice is that you’ll want to make sure you compare similar limits and deductibles on each quote request and to quote with as many different insurance providers as possible. Doing this guarantees an apples-to-apples comparison and many rates to choose from.

Helpful information

• Can I Drive Legally without Insurance? (Insurance Information Institute)
• Who Has Cheap Lexington Auto Insurance Rates for Lyft Drivers? (FAQ)
• How Much are Auto Insurance Quotes for a Toyota Tacoma in Lexington? (FAQ)
• Who Has Cheap Auto Insurance for Teenage Males in Lexington? (FAQ)
• What Auto Insurance is Cheapest for a Learners Permit in Lexington? (FAQ)
• Who Has Cheap Auto Insurance Rates for Veterans in Lexington? (FAQ)
• State Car Insurance Guides (GEICO)
• Collision Coverage (Liberty Mutual)
• Child Safety Seats (Insurance Information Institute)