There isn’t anyone who likes having to buy insurance, especially when they know the cost is too high.
It’s safe to conclude that car insurance companies don’t want you quoting rates from other companies. People who shop around for cheaper price quotes will, in all likelihood, switch companies because they have a good chance of finding a more affordable policy. Surprisingly, a recent survey revealed that people who made a habit of comparing rates saved over $70 a month compared to other drivers who never compared rates.
If finding budget-friendly rates on auto insurance in Lexington is your ultimate objective, then having some knowledge of how to quote prices and compare insurance premiums can make the process less intimidating.
Steps to buying cheaper Toyota FJ Cruiser insurance in Lexington
The best way to find affordable auto insurance rates is to compare prices annually from insurers who provide car insurance in Lexington. You can shop around by following these guidelines.
- Try to comprehend car insurance and the steps you can take to keep rates in check. Many rating factors that increase rates like high-risk driving behaviors and bad credit can be improved by making small lifestyle or driving habit changes.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from one company like GEICO or State Farm, while independent agents can provide price quotes from multiple insurance companies. View insurance agents
- Compare the quotes to the premium of your current policy to determine if switching companies saves money. If you find better rates, make sure coverage is continuous and does not lapse.
- Provide notification to your current company to cancel your current coverage. Submit payment and a completed application to your new insurance company. As soon as you have the new policy, safely store the certificate verifying proof of insurance in an easily accessible location in your vehicle.
One tip to remember is to use identical deductibles and limits on every quote and and to get prices from all possible companies. Doing this guarantees the most accurate price comparison and a thorough selection of prices.
Insurance companies such as Allstate, Progressive and GEICO all claim big savings with ad campaigns and consumers find it hard to see through the deception and take the time to shop coverage around.
Smart consumers take time to take a look at other company’s rates before your policy renews because prices tend to go up over time. Just because you had the lowest price on Toyota FJ Cruiser insurance in Lexington on your last policy you can probably find a better rate quote now. Forget all the misinformation about insurance because you’re going to learn the proper way to save on insurance.
Insurance data for a Toyota FJ Cruiser
The data table shown next outlines a range of insurance coverage prices for Toyota FJ Cruiser models. Having a better understanding of how insurance premiums are calculated can help you make smart choices when comparing insurance quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|FJ Cruiser 2WD||$136||$182||$306||$18||$92||$734||$61|
|FJ Cruiser 4WD||$150||$182||$306||$18||$92||$748||$62|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Table data does not factor in garaging location in Lexington which can decrease or increase coverage rates considerably.
The example below illustrates how your choice of deductibles and can impact Toyota FJ Cruiser insurance costs for different ages of insureds. Data assumes a married female driver, comprehensive and collision coverage, and no other discounts are factored in.
Drive responsibly or pay higher rates
The chart below shows how speeding tickets and accident claims can drive up Toyota FJ Cruiser car insurance costs for different age categories. The premium estimates are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
Do you need full coverage?
The example below shows the difference between Toyota FJ Cruiser car insurance rates when comparing full coverage to state minimum liability only. The rates are based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are applied to the premium.
When to drop full coverage
There is no specific rule for eliminating physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s pretend your Toyota FJ Cruiser replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying your policy deductible. If it’s costing in excess of $500 a year for full coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where removing full coverage is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Lexington insurance discounts for a Toyota FJ Cruiser
Insuring your vehicles can cost a lot, but you can get discounts that you may not even know about. Some of these discounts will be visible at the time of purchase, but some discounts are required to be requested specifically before you will receive the discount.
- Membership in Organizations – Affiliation with a qualifying organization can get you a small discount on your next car insurance statement.
- Data Collection Discounts – Drivers who elect to allow driving data collection to spy on driving patterns by using a telematics device such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates if they exhibit good driving behavior.
- Theft Prevention Discount – Cars, trucks, and SUVs equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10% off your Lexington auto insurance quote.
- Safety Course Discount – Completing a class that teaches defensive driving techniques could earn you a small percentage discount if your company offers it.
- Government Employees – Employees or retirees of the government may qualify for a discount when you quote Lexington auto insurance with select insurance companies.
- Save with More Vehicles Insured – Having more than one vehicle with one company may reduce the rate for each vehicle.
- Auto/Home Discount – If you have multiple policies with the same insurance company you will save over 10 percent off each policy depending on the company.
Discounts reduce rates, but you should keep in mind that most discounts do not apply to all coverage premiums. Most only apply to the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like you could get a free car insurance policy, it doesn’t quite work that way.
The example below compares Toyota FJ Cruiser yearly insurance costs with and without discounts applied to the premium. The price estimates are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, claim-free, homeowner, multi-car, and multi-policy discounts applied.
A few companies that have some of the discounts shown above include:
It’s a good idea to ask all companies you are considering what discounts are available to you. Some of the discounts discussed earlier might not apply everywhere.
Specific coverage details
Understanding the coverages of a insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverages offered by insurance companies.
This coverage protects you from damages or injuries you inflict on a person or their property by causing an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 25/50/10 which means $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $10,000 paid for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage pays for things like emergency aid, funeral expenses, pain and suffering, attorney fees and bail bonds. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible. Kentucky requires drivers to carry at least 25/50/10 but it’s recommended drivers buy better liability coverage.
The next chart shows why buying low liability limits may not provide adequate coverage.
Coverage for collisions
This covers damage to your FJ Cruiser from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like driving through your garage door, rolling your car and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to raise the deductible on your FJ Cruiser to get cheaper collision coverage.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like rehabilitation expenses, EMT expenses, prosthetic devices and dental work. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover all vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things like vandalism, hitting a bird, hitting a deer, fire damage and a broken windshield. The maximum payout your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants and damage to your Toyota FJ Cruiser.
Since a lot of drivers only carry the minimum required liability limits (25/50/10 in Kentucky), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Cover all your bases
You just learned a lot of information how to save on Toyota FJ Cruiser insurance in Lexington. The key thing to remember is the more rate quotes you have, the better likelihood of getting affordable Lexington auto insurance quotes. You may even discover the lowest premium rates come from some of the lesser-known companies. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.
When searching for affordable Toyota FJ Cruiser insurance quotes, don’t be tempted to skimp on critical coverages to save a buck or two. There are too many instances where drivers have reduced collision coverage to discover at claim time that they should have had better coverage. The goal is to get the best coverage possible at an affordable rate and still be able to protect your assets.
Steps to finding more affordable Toyota FJ Cruiser insurance in Lexington
The preferred way to get the cheapest Toyota FJ Cruiser insurance is to regularly compare quotes from different companies that sell auto insurance in Lexington.
First, get a basic knowledge of what coverages are included in your policy and the things you can change to prevent high rates. Many risk factors that result in higher prices like tickets, at-fault accidents, and a negative credit rating can be controlled by making small lifestyle or driving habit changes.
Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like GEICO and State Farm, while independent agents can quote rates for a wide range of insurance providers. View a list of agents
Third, compare the new rates to your current policy premium to determine if you can save on FJ Cruiser insurance. If you find better rates and decide to switch, make sure coverage is continuous and does not lapse.
Fourth, provide proper notification to your current company of your decision to cancel your current policy. Submit the completed application along with a down payment to the new insurer. As soon as you receive it, place the new proof of insurance paperwork with the vehicle registration.
The most important part of shopping around is that you use the same level of coverage on each quote and to quote with as many car insurance companies as possible. This helps ensure an accurate price comparison and a good representation of prices.
To learn more, take a look at the resources below:
- Child Safety Seats (Insurance Information Institute)
- What Car Insurance is Cheapest for a Toyota 4Runner in Lexington? (FAQ)
- Who Has Affordable Lexington Car Insurance Rates for Good Drivers? (FAQ)
- Who Has Cheap Lexington Auto Insurance Quotes for a Subaru Impreza? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Lexington? (FAQ)
- Smart Auto Insurance Tips (Insurance Information Institute)
- Red Light Cameras (State Farm)
- Collision Insurance Coverage (Nationwide)
- Airbag FAQ (iihs.org)