How to Save on Austin Lexus LS 460 Insurance

Have you finally had enough of sacrificing other expenses to make your insurance payment? You have the same problem as many other drivers in Texas.

Unbelievable but true according to a study a large majority of consumers kept their policy with the same company for four years or more, and virtually 40% of consumers have never even compared quotes to find cheap rates. The average driver in the U.S. can cut their rates by about $850 a year by just comparing rate quotes, but they don’t want to spend time to compare rate quotes.

Numerous auto insurance companies battle for your business, so it can be very hard to choose a provider to discover the definitive cheapest price on Lexus LS 460 insurance in Austin.

If you have insurance now, you will most likely be able to find the best rates using the tips covered below. Choosing the best rates in Austin is easy if you know what you’re doing. But Texas vehicle owners can benefit by having an understanding of the way insurance companies price online insurance and take advantage of how the system works.

Informed Drivers Save Money

Many different elements are part of the calculation when you get your auto insurance bill. Some are obvious like an MVR report, but others are not quite as obvious like your continuous coverage and annual miles driven.

Listed below are a partial list of the pieces used by companies to determine your premiums.

• Better car insurance rates on cars with good safety ratings – Vehicles with high crash test scores cost less to insure. Highly rated vehicles reduce injuries and reduced instances of injuries means lower claim amounts and thus lower rates. If the Lexus LS 460 has ratings of a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
• Combine policies to earn discounts – Some insurance companies will give lower prices to insureds who buy several policies from them. It’s known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to check prices from other companies to make sure you are getting the best deal. It’s possible to still save even more even if you insure with multiple companies
• Avoid unnecessary extra policy coverages – There are quite a few extra bells and whistles that can add up when buying car insurance. Coverages like rental car reimbursement, high-cost glass coverage, and membership fees may be costing you every month. They may seem good when discussing your needs, but your money might be better spent on other coverage so consider taking them off your policy.
• Raise physical damage deductibles and save – Deductibles for physical damage are how much you are willing to pay before a claim is paid by your company. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Examples of covered claims are collision with another vehicle, damage caused by hail, and having a roll-over accident. The higher the amount you are required to pay out-of-pocket, the lower your rates will be.
• Insurance losses for a Lexus LS 460 – Insurance companies analyze past claim statistics when setting premium prices. Vehicles that the data determines to have higher losses will cost more to insure. The next table illustrates the insurance loss data used by companies for Lexus LS 460 vehicles.

  For each policy coverage, the loss probability for all vehicles, regardless of manufacturer or model, is represented as 100. Percentage numbers below 100 indicate a favorable loss history, while values that are 100 or greater show a trend for more claims or an increased chance of a larger loss.

  Lexus LS 460 Insurance Loss Statistics

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lexus LS 460 4dr 2WD	155	76	203	52
  Lexus LS 460 4dr 4WD	207	102	239	62
  Lexus LS 460 L 4dr 2WD	199
  Lexus LS 460 L 4dr 4WD	251		324

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

When price shopping your coverage, comparing a wide range of rates helps improve the odds of finding the best price. Not every company does price estimates online, so you also need to get prices from those companies as well.

The auto insurance companies shown below provide price quotes in Texas. If multiple providers are shown, it’s a good idea that you visit two to three different companies in order to find the cheapest rates.

Data variables include married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Estimates do not factor in zip code location which can alter insurance rates greatly.

Age, gender, and Lexus LS 460 insurance

The illustration below illustrates the difference between Lexus LS 460 auto insurance costs for male and female drivers. The premiums assume a clean driving record, no at-fault accidents, full coverage, $100 deductibles, drivers are not married, and no discounts are applied to the premium.

Rate comparison for different deductibles

A question often asked by Austin drivers is at what level do you set your deductibles. The tables below may help you to understand the rate difference when you choose different physical damage coverage deductibles. The first data table uses a $250 deductible and the second price grid uses a $1,000 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Rates do not factor in specific zip code location which can change premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible will cost you roughly $43 more each month or $516 every year than quoting the higher $1,000 deductible. Because you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 17 months between claims, you would come out ahead if you choose the higher deductible. The table below shows a better example of how you can make your own decision.

Auto insurance does more than just protect your car

Even though it can be expensive, insurance may be required and benefits you in several ways.

• Almost all states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If your Lexus has a loan, most banks will have a requirement that you buy full coverage to guarantee loan repayment. If the policy lapses, the bank may insure your Lexus at an extremely high rate and force you to reimburse them for the expensive policy.
• Insurance protects your Lexus LS 460 and your assets. It will also reimburse you for medical bills for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If you have damage to your Lexus as the result of the weather or an accident, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of carrying adequate insurance definitely exceed the price paid, especially with large liability claims. According to a 2015 survey, the average American driver is wasting up to $810 a year so we recommend shopping around at least once a year to be sure current rates are still competitive.

Cheaper rates by taking advantage of discounts

Some insurers don’t always advertise every available discount in a way that’s easy to find, so we researched both the well known and the harder-to-find ways to save on auto insurance.

• Student Discounts – Being a good student can get you a discount of up to 25%. This discount can apply up until you turn 25.
• Online Discount – Some of the larger companies will discount your bill up to fifty bucks for completing your application online.
• Pay Upfront and Save – If you pay your entire premium ahead of time rather than spreading payments over time you can actually save on your bill.
• Save over 55 – Older drivers may qualify for lower premium rates.
• Multiple Cars – Having more than one vehicle on a single policy can get a discount on all vehicles.
• ABS and Traction Control Discounts – Cars and trucks that have steering control and anti-lock brakes can reduce accidents and will save you 10% or more on LS 460 insurance in Austin.
• First Accident Forgiveness – Not really a discount, but certain companies may permit one accident before hitting you with a surcharge if your claims history is clear before the accident.
• Discount for Low Mileage – Low mileage vehicles could earn lower rates due to less chance of an accident.
• Discount for New Cars – Buying a new car instead of a used LS 460 can save up to 30% compared to insuring an older model.

As a disclaimer on discounts, most discounts do not apply to the whole policy. Most only cut individual premiums such as comp or med pay. Just because it seems like adding up those discounts means a free policy, you’re out of luck. Any amount of discount will help reduce the amount you pay for coverage.

Some companies that may offer policyholders these money-saving discounts include:

• State Farm
• GEICO
• Liberty Mutual
• The Hartford
• MetLife
• Progressive

If you are trying to find the cheapest Lexus LS 460 rate quotes, ask all the companies which discounts you may be entitled to. Some discounts may not apply to policies everywhere. If you would like to view providers with significant discounts in Austin, click here.

Local neighborhood insurance agents

A lot of people would prefer to talk to a local agent and that is not a bad decision The best thing about getting free rate quotes online is you can get lower car insurance rates but still work with a licensed agent.

Upon completion of this form (opens in new window), your insurance coverage information is instantly submitted to local insurance agents who will return price quotes for your auto insurance coverage. You never need to search for an agent because prices are sent instantly to you. You can most likely find cheaper rates AND a local agent. If for some reason you want to get a comparison quote from a particular provider, you just need to search and find their rate quote page and submit a quote form there.

Selecting a company should depend on more than just the price. The answers to these questions are important, too.

• What are their preferred companies if they are an independent agency?
• How is replacement cost determined on your vehicle?
• How many years have they been established?
• Can glass repairs be made at your home?
• Does the agency support the community they serve?
• Are they able to influence company decisions when a claim is filed?

Listed below is a list of car insurance companies in Austin that can give you rate quotes for Lexus LS 460 insurance in Austin.

View more Austin agents

Once you have reasonable responses to these questions in addition to an acceptable price estimate, most likely you have located an insurance company that meets your needs to service your policy.

When do I need an agent’s advice?

Always keep in mind that when comparing coverage for your personal vehicles, there really isn’t a best way to insure your cars. Everyone’s situation is unique.

For example, these questions may help highlight if you might need professional guidance.

• How can I get my company to pay me more for my totalled car?
• Is a driver training discount available?
• Do I need to file an SR-22 for a DUI in Texas?
• Can I get by with minimal medical coverage if I have good health insurance?
• Why is insurance for a teen driver so high in Austin?
• Is there a penalty for late payment?
• Do I have coverage when using my vehicle for my home business?
• If I drive on a suspended license am I covered?
• If my Lexus LS 460 is totaled, can I afford another vehicle?

If you’re not sure about those questions, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form.

Cheap auto insurance is out there

As you restructure your insurance plan, don’t be tempted to buy poor coverage just to save money. There are a lot of situations where an accident victim reduced full coverage only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to find the BEST coverage at the best possible price while not skimping on critical coverages.

Budget-conscious Lexus LS 460 insurance can be purchased both online and from local agencies, and you should compare rates from both to get a complete price analysis. There are still a few companies who may not offer the ability to get quotes online and these regional insurance providers work with independent agencies.

People change insurance companies for a variety of reasons including questionable increases in premium, policy cancellation, high prices and high rates after DUI convictions. Whatever your reason, choosing a new insurance company can be less work than you think.

More tips and info about auto insurance can be found at these sites:

• Insuring a Leased Car (Insurance Information Institute)
• Who Has Affordable Auto Insurance for Low Credit Scores in Austin? (FAQ)
• Who Has the Cheapest Car Insurance Quotes for a Chevrolet Equinox in Austin? (FAQ)
• How Much are Auto Insurance Rates for a Dodge Ram in Austin? (FAQ)
• Credit Impacts Car Insurance Rates (State Farm)
• What if I Can’t Find Coverage? (Insurance Information Institute)
• Vehicle Size and Weight FAQ (iihs.org)
• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)