Have you had enough of being strong-armed to insure your Lexus every month? Your situation is no different than millions of other consumers. Companies like State Farm, GEICO and Farmers Insurance persitently shower you with fancy advertisements and it can be hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.
If you have a policy now or need new coverage, you can learn to reduce the price you pay while maintaining coverages. Finding affordable coverage is not rocket science. Consumers only need an understanding of the most effective way to compare price quotes online.
Are you getting all your discounts?
Insuring your vehicles can cost a lot, but you can get discounts that many people don’t even know exist. Certain discounts will be applied at the time you complete a quote, but lesser-known reductions have to be manually applied before you get the savings. If you’re not getting every credit you deserve, you are paying more than you should be.
- Pay Now and Pay Less – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
- Military Rewards – Being deployed with a military unit could be rewarded with lower premiums.
- Life Insurance Discount – Larger companies have better rates if you take out auto and life insurance together.
- Good Students Pay Less – Getting good grades can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- Accident Free – Drivers who don’t have accidents can earn big discounts compared to accident-prone drivers.
- New Vehicle Savings – Adding a new car to your policy can be considerably cheaper because new vehicles have to meet stringent safety requirements.
- Sign Online – Certain companies may give you up to $50 simply for signing over the internet.
As a disclaimer on discounts, some of the credits will not apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, you won’t be that lucky. Any amount of discount will cut the amount you have to pay.
But I want to work with a local agent
Some people prefer to visit with an insurance agent and there is nothing wrong with that. Educated insurance agents can help determine the best coverages and help file insurance claims. The biggest benefit of price shopping on the web is the fact that you can find better rates and still have an agent to talk to. And supporting local businesses is especially important in smaller rural communities.
Once you complete this form (opens in new window), your information is transmitted to participating agents who will return price quotes for your business. There is no reason to even leave your home since price quotes are sent to the email address you provide.
How to choose the best auto insurance agent
When finding an insurance agent, there are a couple of types of insurance agents that you can select. agents are categorized either captive or independent. While both can write coverage properly, but it’s important to know how they are different since it may influence the type of agent you choose
Independent Agents
Independent insurance agents do not work for one specific company so they can insure your vehicles amongst many companies depending on which coverage is best. If you are not satisfied with one company, an independent agent can move your coverage and you don’t have to find a new agent. When searching for an agent, it’s recommended you contact several independent insurance agents to get the best comparison.
Captive Insurance Agents
Captive agencies can only write with one company and some examples include AAA, State Farm, Farmers Insurance and Allstate. They usually cannot shop your coverage around so they have to upsell other benefits. Captives are well schooled on their company’s products which helps them sell insurance even at higher premiums.
For a full directory of insurance agencies, visit this page.
Selecting an insurance agent needs to be determined by more than just the price. These are valid questions to ask:
- Do the companies they represent have a solid financial rating?
- Are claims handled at the agent’s location?
- Who is covered by the car insurance policy?
- How often do they review policy coverages?
- If you have an accident, will your rates go up?
- What insurance companies do they work with?
Upon receiving good answers and an acceptable price quote, chances are good that you have found a car insurance agent that meets your needs to adequately provide car insurance. Just keep in mind policyholders can cancel a policy at any point so don’t feel you’re contractually obligated to any particular company for the full term.
Which insurance is the “right” coverage?
When it comes to buying proper insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions can aid in determining if your situation may require specific advice.
- What companies insure drivers after a DUI or DWI?
- Will I lose any money if I cancel my policy before it expires?
- Am I covered when using my vehicle for business?
- Who is covered when they drive my Lexus ES 330?
- Does my insurance cover my expensive audio equipment?
- What is covered by UM/UIM coverage?
- Do I have coverage when using my vehicle for my home business?
If you don’t know the answers to these questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of car insurance companies in your area. It is quick, free and may give you better protection.
Detailed coverages of your car insurance policy
Learning about specific coverages of your policy can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are the usual coverages found on the average car insurance policy.
Medical expense insurance – Med pay and PIP coverage reimburse you for bills for surgery, chiropractic care and EMT expenses. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your Lexus ES 330.
Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits are similar to your liability insurance amounts.
Liability auto insurance – Liability insurance can cover injuries or damage you cause to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is a combined limit which combines the three limits into one amount without having the split limit caps.
Liability insurance covers claims such as court costs, funeral expenses, loss of income and repair costs for stationary objects. How much coverage you buy is your choice, but buy as much as you can afford.
Comprehensive (Other than Collision) – This covers damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things like fire damage, vandalism, a tree branch falling on your vehicle and damage from getting keyed. The maximum amount your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision coverage – This coverage pays for damage to your ES 330 resulting from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like crashing into a ditch, colliding with a tree, crashing into a building, rolling your car and hitting a mailbox. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.
Quote more, save more
When buying insurance coverage, it’s very important that you do not skimp on critical coverages to save a buck or two. There have been many cases where an insured cut collision coverage only to find out that the few dollars in savings costed them thousands. Your aim should be to purchase plenty of coverage at an affordable rate while still protecting your assets.
We just presented quite a bit of information on how to shop for Lexus ES 330 insurance online. The most important thing to understand is the more you quote, the more likely it is that you will get a better rate. You may be surprised to find that the lowest premiums are with some of the lesser-known companies. These smaller insurers can often provide lower rates in certain areas as compared to the big name companies such as Allstate and Progressive.
