Truthfully, the best way to find low-cost prices for auto insurance rates is to regularly compare quotes from insurers who can sell car insurance in Louisville. Price quotes can be compared by following these guidelines.
- Step 1: Read and learn about what coverages are included in your policy and the measures you can control to prevent expensive coverage. Many things that result in higher prices such as multiple speeding tickets and poor credit history can be remedied by making minor driving habit or lifestyle changes.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can provide price quotes for many different companies.
- Step 3: Compare the new rate quotes to your existing rates and see if you can save money. If you find a lower rate quote and decide to switch, make sure coverage does not lapse between policies.
- Step 4: Tell your current agent or company of your intention to cancel the current policy. Submit a completed application and payment for your new policy. As soon as you can, place your new certificate of insurance in an easily accessible location in your vehicle.
A tip to remember is to use the same liability limits and deductibles on every quote request and and to get rates from every company you can. This provides an accurate price comparison and a better comparison of the market.
Sad but true, most car insurance policyholders in Kentucky kept buying from the same company for at least the last four years, and approximately 40% of consumers have never compared rates to find affordable insurance. American drivers could save up to 46.5% each year just by shopping around, but they don’t know how much they could save if they replace their high priced policy.
Buying the cheapest car insurance in Louisville is quite easy. Essentially everyone who wants cheaper car insurance will be able to save money. But Kentucky drivers must comprehend how companies determine how much to charge because it can help you find the best coverage.
When comparing insurance rates, know that quoting more will improve the odds of getting a lower rate than you’re paying now. Not every company allows you to get Louisville NX 200t insurance quotes online, so you should also compare price quotes from them as well.
The following companies have been selected to offer comparison quotes in Kentucky. If multiple companies are listed, we recommend you compare several of them to get the most competitive price.
Three main reasons to buy auto insurance
Even though it can be expensive, paying for auto insurance serves a purpose in several ways.
- Just about all states have compulsory liability insurance requirements which means you are required to carry a specific level of liability protection if you don’t want to risk a ticket. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your Lexus NX 200t, almost all lenders will stipulate that you have full coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Lexus at an extremely high rate and make you pay the higher premium.
- Auto insurance protects both your assets and your car. It will also pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit in the event you are sued. If mother nature or an accident damages your car, your auto insurance policy will pay to repair the damage.
The benefits of buying enough insurance definitely exceed the price paid, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer is wasting up to $810 a year so you should quote rates every year to help ensure money is not being wasted.
Auto insurance coverage breakdown
Having a good grasp of auto insurance helps when choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Lexus NX 200t.
Since a lot of drivers only carry the minimum required liability limits (which is 25/50/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.
Collision protection
This covers damage to your NX 200t resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for things like sideswiping another vehicle, crashing into a ditch, sustaining damage from a pot hole and crashing into a building. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also bump up the deductible on your NX 200t to save money on collision insurance.
Liability car insurance
This provides protection from damage that occurs to a person or their property that is your fault. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/10 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.
Liability can pay for claims like repair costs for stationary objects, repair bills for other people’s vehicles, structural damage, attorney fees and medical expenses. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible. Kentucky state law requires minimum liability limits of 25/50/10 but you should consider buying more liability than the minimum.
The illustration below demonstrates why buying the state minimum limits may not be high enough to adequately cover claims.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance pay for immediate expenses like X-ray expenses, ambulance fees, prosthetic devices and EMT expenses. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive insurance covers things like rock chips in glass, a broken windshield, hail damage, fire damage and damage from flooding. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Don’t give up on affordable rates
When getting Louisville car insurance quotes online, it’s not a good idea to buy lower coverage limits just to save a few bucks. In too many instances, an insured dropped uninsured motorist or liability limits and discovered at claim time they didn’t purchase enough coverage. Your goal should be to buy enough coverage for the lowest price.
You just learned a lot of ways to shop for Lexus NX 200t insurance online. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. You may even find the most savings is with a smaller regional carrier.
Drivers leave their current company for a number of reasons such as policy non-renewal, delays in responding to claim requests, policy cancellation or even an unsatisfactory settlement offer. No matter why you want to switch, finding a new company is not as hard as you think.
To learn more, feel free to browse the resources below:
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Who Has the Cheapest Auto Insurance for a Ford Explorer in Louisville? (FAQ)
- How Much is Louisville Car Insurance for Good Students? (FAQ)
- What Car Insurance is Cheapest for Welfare Recipients in Louisville? (FAQ)
- How Much are Louisville Auto Insurance Rates for Immigrants? (FAQ)
- How Much are Car Insurance Quotes for a Hyundai Elantra in Louisville? (FAQ)
- Who Has Cheap Louisville Car Insurance Rates for a Honda Pilot? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- All About Airbag Safety (State Farm)