Car Insurance Quotes for a Lexus GS 350 in Louisville

Insurance rates Lexus GS 350 in LouisvilleIf you want to save the most money, the best way to find better pricing on Lexus GS 350 insurance in Louisville is to begin comparing prices regularly from providers who sell auto insurance in Kentucky. Price quotes can be compared by following these steps.

  1. Get an understanding of what coverages are included in your policy and the things you can control to drop your rates. Many rating criteria that cause rate increases such as your driving record and poor credit rating can be improved by making lifestyle changes or driving safer. Continue reading for tips to prevent expensive rate increases and find discounts that you may qualify for.
  2. Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agents can quote prices for many different companies.
  3. Compare the new rate quotes to your current policy to see if a cheaper price is available in Louisville. If you can save money, make sure the effective date of the new policy is the same as the expiration date of the old one.

An important note is that you’ll want to compare identical coverage information on each price quote and and to get prices from as many different companies as possible. This enables an accurate price comparison and plenty of rates choose from.

Everyone knows that car insurance companies want to keep your business as long as possible. Insureds who shop around are inclined to buy a new policy because there is a high probability of finding a cheaper policy. A study showed that people who compared rates annually saved over $865 annually compared to policyholders who don’t regularly compare prices.

If finding the best price on Lexus GS 350 insurance is your ultimate objective, then having some knowledge of how to compare insurance rates can save time and make the process easier.

If you have car insurance now, you stand a good chance to be able to save money using the tips covered below. Finding affordable car insurance coverage in Louisville seems hard but is not really that difficult. Nevertheless, Kentucky consumers need to have an understanding of how companies charge you for coverage because rates fluctuate considerably.

Smart Consumers Can Save Money

Many different elements are part of the equation when you get your auto insurance bill. Some factors are common sense such as your driving record, but other criteria are more obscure such as your credit history or your financial responsibility. When buying auto insurance it’s important to understand some of the things that come into play when calculating the rates you pay for auto insurance. If you have some idea of what determines premiums, this enables you to make decisions that could help you find much lower annual insurance costs.

Coverage statistics and figures

The table displayed next showcases detailed analysis of insurance coverage prices for Lexus GS 350 models. Having a better understanding of how insurance prices are formulated is important for you to make informed decisions when comparing rate quotes.

Lexus GS 350 Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $272 $566 $314 $18 $94 $1,264 $105
GS 350 AWD $300 $640 $314 $18 $94 $1,366 $114
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific zip code location which can revise coverage prices considerably.

Analysis of deductible levels

A question often asked by Louisville drivers is which deductible level should you buy. The figures shown below illustrate the differences in price when you buy lower versus higher physical damage deductibles. The first price estimate table uses a $100 deductible for comp and collision and the second rate table uses a $1,000 deductible.

Lexus GS 350 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $354 $688 $278 $16 $84 $1,445 $120
GS 350 AWD $390 $778 $278 $16 $84 $1,571 $131
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Lexus GS 350 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $196 $362 $278 $16 $84 $936 $78
GS 350 AWD $216 $410 $278 $16 $84 $1,004 $84
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium costs do not factor in vehicle location which can increase or decrease rates substantially.

We can estimate from the data above that using a $100 deductible costs roughly $45 more each month or $540 a year than buying the higher $1,000 deductible. Because you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 20 months between claim filings, you would save more money by selecting a higher deductible.

How to determine when to raise deductibles

Average monthly premium for $100 deductibles: $126
Average monthly premium for $1,000 deductibles (subtract): – $81
Monthly savings from raising deductible: $45
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $45
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 20 months

The illustration below shows how different deductible levels and can raise or lower Lexus GS 350 insurance costs for different age categories. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.

Cost difference between full coverage and liability

The illustration below illustrates the comparison of Lexus GS 350 insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The price estimates are based on no claims or driving citations, $100 deductibles, marital status is single, and no discounts are factored in.

When to drop full coverage

There is no written rule that works best for making the decision to drop full coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.

For example, let’s assume your Lexus GS 350 claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after the deductible is paid. If you are paying more than $700 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are some scenarios where eliminating full coverage is not advised. If you still owe a portion of the original loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.

Discount Louisville insurance rates

Companies don’t always publicize every discount available in an easy-to-find place, so the following is a list of a few of the more common as well as some of the hidden discounts that you can inquire about if you buy Louisville auto insurance online.Insurance discounts

Policy discounts save money, but most of the big mark downs will not be given to your bottom line cost. Most only apply to the cost of specific coverages such as medical payments or collision. So when the math indicates having all the discounts means you get insurance for free, it just doesn’t work that way.

The diagram below illustrates the comparison of Lexus GS 350 insurance costs with and without discounts applied to the policy premium. The data is based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, comprehensive and collision 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, multi-policy, claim-free, multi-car, and homeowner discounts applied.

A partial list of companies that possibly offer many of the previously listed discounts possibly include:

Check with every insurance company to give you their best rates. Savings might not apply in Louisville. To see a list of companies who offer cheap Lexus GS 350 insurance quotes in Kentucky, click here to view.

Kentucky car insurance companies ranked

Ending up with a high-quality car insurance company can be difficult considering how many companies there are to choose from in Kentucky. The ranking data shown next could help you pick which insurers you want to consider comparing rate quotes with.

Top 10 Louisville Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Louisville Car Insurance Companies by A.M. Best Rank

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Erie Insurance – A+
  6. Titan Insurance – A+
  7. Esurance – A+
  8. Progressive – A+
  9. Nationwide – A+
  10. The Hartford – A+

Quote more to save more

Cheap Lexus GS 350 insurance in Louisville is definitely available both online and with local Louisville insurance agents, so you need to shop Louisville auto insurance with both in order to have the best price selection to choose from. Some insurance companies may not offer rate quotes online and usually these small, regional companies only sell through independent agents.

In this article, we presented some good ideas how you can save on Lexus GS 350 insurance in Louisville. The most important thing to understand is the more you quote Louisville auto insurance, the better your comparison will be. Consumers could even find that the lowest car insurance rates come from a lesser-known regional company. These companies may often insure only within specific states and give better rates than the large multi-state companies such as Allstate, GEICO and Progressive.

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