Save Money on Scion xB Insurance in Lexington

Shopping for the lowest price Lexington Scion xB insurance quotes online may seem to be somewhat intimidating for vehicle owners who are beginners to quoting and buying their car insurance over the internet. With such a large choice of companies in the marketplace, how can Lexington drivers be able to compare every car insurance company to find the lowest price?

How to buy discount Scion xB insurance in Lexington

The preferred way to find the cheapest price for car insurance rates is to make a habit of comparing prices annually from providers who sell insurance in Lexington. Prices can be compared by completing these steps.

  1. Take a few minutes and learn about how car insurance works and the changes you can make to keep rates down. Many factors that result in higher prices such as getting speeding tickets and poor credit history can be improved by making minor changes in your lifestyle.
  2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like Progressive or State Farm, while independent agents can provide price quotes from multiple sources.
  3. Compare the new quotes to the premium of your current policy and determine if there is any savings. If you can save some money and make a switch, make sure there is no lapse in coverage.
  4. Give notification to your agent or company of your decision to cancel the current policy. Submit a completed policy application and payment to the newly selected company. As soon as you can, put the new certificate verifying coverage with the vehicle registration.

A good tip to remember is to try to compare similar limits and deductibles on every price quote and and to analyze as many companies as feasibly possible. This provides an apples-to-apples comparison and and a good selection of different prices.

Insurance rates Scion xB in LexingtonIt’s astonishing, but a large majority of consumers kept their policy with the same company for a minimum of four years, and about 40% of consumers have never even compared quotes to find affordable rates. Most drivers in Kentucky could save approximately $600 each year just by shopping around, but they underestimate the benefits if they bought a different policy.

Shopping around for the best-priced coverage in Lexington is not that difficult. In a nutshell, every driver who has to purchase insurance will most likely be able to find lower rates. But Kentucky consumers do need to understand how insurance companies calculate your policy premium and use it to your advantage.

The quickest method we recommend to compare policy rates for Scion xB insurance in Lexington is to take advantage of the fact most larger insurance companies provide online access to give free rates quotes. To start a quote, the only thing you need to do is provide a small amount of information like whether your vehicle is owned or leased, how old drivers are, whether the vehicles are used for commuting, and distance driven. The data is automatically sent to multiple insurance providers and you get price estimates almost instantly.

To find lower cheap Scion xB insurance rates now, click here and enter the information requested.

The providers in the list below are ready to provide comparison quotes in Lexington, KY. If multiple companies are listed, we recommend you get price quotes from several of them to find the most affordable auto insurance rates.

Cheap Scion xB insurance in Lexington

Some insurance providers don’t always list every discount they offer in a way that’s easy to find, so the below list has both well-publicized and also the more inconspicuous discounts that you may qualify for.Cheaper auto insurance with discounts

As is typical with insurance, most credits do not apply to all coverage premiums. Some only apply to the cost of specific coverages such as medical payments or collision. So even though it sounds like you can get free auto insurance, that’s just not realistic.

The information below shows the difference between Scion xB insurance rates with and without some available policy discounts. The price estimates are based on a male driver, no claims or driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, marriage, homeowner, and multi-car discounts applied.

A list of companies and some of the discounts are detailed below.

When quoting, ask every insurance company to apply every possible discount. Some discounts listed above may not be offered in Lexington. To see a list of insurance companies that can offer you the previously mentioned discounts in Lexington, follow this link.

Coverage statistics and figures

The premium table shown next highlights different insurance policy prices for Scion xB models. Learning more about how auto insurance policy rates are formulated can benefit drivers when making decisions on which coverage to buy.

Scion xB Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $280 $418 $326 $20 $98 $1,142 $95
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Price estimates do not factor in garaging location in Lexington which can increase or decrease prices substantially.

Higher deductibles save money

The hardest decision when buying coverage is where to set your physical damage deductibles. The following tables can help you understand the cost difference between high and low physical damage deductibles. The first data set uses a $100 comprehensive and collision deductible and the second rate chart uses a $500 deductible.

Scion xB insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $280 $418 $326 $20 $98 $1,167 $97
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Scion xB insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $206 $282 $326 $20 $98 $932 $78
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Table data does not factor in zip code location which can modify premiums considerably.

Based on the above data, using a $100 deductible could cost the average driver approximately $19 more each month or $228 for a full year averaged for all xB models than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you tend to go more than 21 months between claim filings, you would probably be better off by going with a higher deductible. The numbers below show an example of how we made this calculation.

Average monthly premium for $100 deductibles: $97
Average monthly premium for $500 deductibles (subtract): – $78
Monthly savings from raising deductible: $19
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

An important thing to remember is that raising deductibles means you will have to cover more of the damage yourself when you have a comprehensive or collision claim. You must have some money saved in order to pay the deductible to have repairs made.

The diagram below demonstrates how choosing different deductibles and can impact Scion xB insurance costs for each age group. The information is based on a married male driver, full coverage, and no discounts are applied.

Scion xB annual premiums for males versus females

The example below illustrates the comparison of Scion xB yearly insurance costs for male and female drivers. The data is based on no claims or driving citations, full coverage, $100 deductibles, single marital status, and no discounts are factored in.

Insurance Rate Influencing Factors

When buying insurance it’s important to understand the rating factors that help determine the rates you pay for insurance. When consumers understand what positively or negatively impacts your premiums, this enables you to make decisions that may reward you with better insurance rates. Lots of factors are used when you get your auto insurance bill. A few of the factors are predictable such as your driving record, although some other factors are more transparent such as your marital status and annual miles driven.

Premiums increase with driving tickets – Your driving record influences premium rates substantially. Attentive drivers have lower premiums compared to drivers with tickets. Even a single driving citation may increase your cost substantially. Drivers who have flagrant tickets such as DUI or reckless driving may need to complete a SR-22 with their state motor vehicle department in order to legally drive a vehicle.

The example below illustrates how violations and at-fault collisions can impact Scion xB insurance rates for different ages of insureds. The premiums assume a single female driver, full coverage, $100 deductibles, and no discounts are taken into consideration.

The higher your credit score the lower your premiums – Credit score will be a significant factor in your rate calculation. So if your credit rating can be improved, you may save money insuring your Scion xB by improving your credit score. Consumers who have very high credit ratings tend to be better drivers and file fewer claims than drivers who have worse credit.

Drive fewer miles and save – The more you drive in a year’s time the higher your rate. A lot of insurance companies price each vehicle’s coverage determined by how the vehicle is used. Cars and trucks that are left in the garage can get a lower rate than vehicles that are driven to work every day. Double check that your insurance policy properly reflects the correct usage for each vehicle, because improper ratings can cost you money. An improperly rated xB can result in significantly higher rates.

High performance vehicles cost more to insure – The performance level of the car, truck or SUV you need to insure makes a huge difference in your rates. Small economy passenger cars receive the most favorable rates, but other factors influence the final cost greatly.

The next chart is based on a married female driver age 40, full coverage with $500 deductibles, and no discounts or violations. The chart compares Scion xB policy rates compared to other models of vehicles that have a range of risk factors.

Use one insurance company and save – Most larger companies will give better rates to buyers that purchase more than one policy in the form of a multi-policy discount. Discounts can be ten percent or more. Even though this discount sounds good, it’s always a smart idea to compare Scion xB rates in Lexington to verify if the discount is saving money. Drivers may still find a better deal by buying insurance from more than one company.

Never let your insurance policy lapse – Not maintaining insurance is a big no-no and you will pay a penalty because you let your insurance lapse. In addition to paying higher rates, being ticketed for driving with no insurance could result in a fine, jail time, or a revoked license. You may need to submit proof of financial responsibility or a SR-22 with the Kentucky motor vehicle department to get your license reinstated.

Vehicles with better crash test results cost less to insure – Vehicles with good safety scores tend to have lower insurance rates. The safest vehicles reduce occupant injuries and lower rates of occupant injuries translates into fewer and smaller insurance claims and cheaper rates on your policy. If the Scion xB scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.

Scion xB statistical loss data – Companies use past insurance losses when determining insurance costs. Models that are shown to have higher number or severity of losses will cost more for coverage. The table below outlines the historical insurance loss data for Scion xB vehicles.

For each insurance policy coverage type, the claim probability for all vehicles, regardless of manufacturer or model, is a value of 100. Values that are under 100 represent a good loss history, while percentage values above 100 indicate more frequent claims or tendency to have larger claims.

Scion xB Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Scion xB 86 92 89 148 127 116

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years