Find Affordable Lexus IS 250 Insurance in Austin

Has it been over a year since you last compared quotes for cheaper Lexus IS 250 insurance in Austin? Searching for budget-priced Austin Lexus IS 250 insurance quotes is problematic for vehicle owners that are relatively new to comparing rates and buying insurance over the internet. With so many agents and insurers available, how are we expected to have a chance to compare the different rates to find the lowest price?

Unbelievable but true, nearly 70% of customers have stayed with the same insurance company for more than four years, and 38% of customers have never even compared rates from other companies. Drivers in Texas could save an average of almost 70% each year just by getting comparison quotes, but most undervalue the actual amount they would save if they swap their current policy for a cheaper one.

Locating the best rates in Austin is actually not that difficult if you follow our advice. In a nutshell, anyone who quotes insurance should find a cheaper policy. Nevertheless, Texas vehicle owners must learn the way insurance companies determine prices.

Low-cost Lexus insurance price quotes in Austin

The companies shown below can provide free quotes in Texas. If the list has multiple companies, we suggest you visit several of them to get a more complete price comparison.

Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Information does not factor in specific location which can raise or lower coverage rates substantially.

Liability only or full coverage

The illustration below visualizes the comparison of Lexus IS 250 insurance premiums with full coverage and liability only. The premiums assume a clean driving record, no claims, $500 deductibles, married female driver, and no other discounts are factored in.

When to eliminate full coverage

There is no exact rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let’s say your Lexus IS 250 replacement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $8,000 after paying your deductible. If premium cost is more than $800 a year to have full coverage, then you may need to consider dropping full coverage.

There are some conditions where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not eliminate full coverage.

Comparison of policy deductibles

The information below shows how choosing a deductible and can increase or decrease Lexus IS 250 annual premium costs for different age categories. The costs are based on a single male driver, full coverage, and no additional discounts are factored in.

Choosing deductibles

When comparing auto insurance rates, the most common question is the level to set your comp and collision deductibles. The rates below show the cost difference when you choose different insurance deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second data table uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Prices do not factor in vehicle location which can affect rates considerably.

We can estimate from the data above that using a $100 deductible will cost you roughly $33 more each month or $396 a year than selecting the higher $500 deductible. Since you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 12 months between claims, you would most likely save money if you decide on a higher deductible.

Determine discounts on Austin insurance

Some companies don’t list all their discounts very clearly, so the list below contains a few of the more common in addition to some of the lesser obvious discounts you could be receiving when you buy Austin auto insurance online.

• Full Payment Discount – If you can afford to pay the entire bill as opposed to paying monthly you may reduce your total bill.
• Austin Homeowners Pay Less – Being a homeowner can get you a discount because owning a home means you have a higher level of financial diligence.
• Accident-Free Discounts – Drivers who don’t have accidents have much lower rates compared to bad drivers.
• Anti-lock Brake System – Cars with ABS and/or traction control are much safer to drive and qualify for as much as a 10% discount.
• Discounts for Seat Belt Usage – Forcing all vehicle occupants to fasten their seat belts can save a little on the premium charged for medical payments and/or PIP.
• Auto/Home Discount – When you combine your auto and home insurance with one company you will save approximately 10% to 15%.
• Discount for Passive Restraints – Factory air bags and/or automatic seat belt systems may earn rate discounts up to 30%.
• Discount for Swiching Early – A few companies allow discounts for renewing your policy before your current coverage expires. The savings is around 10%.
• Resident Student – College-age children who are enrolled in higher education away from home and don’t have a car could get you a discount.

As a sidenote, some of the credits will not apply to your bottom line cost. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So even though it sounds like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

A list of insurance companies and their offered discounts are:

• GEICO offers discounts including multi-policy, driver training, defensive driver, seat belt use, and multi-vehicle.
• Travelers may have discounts that include save driver, continuous insurance, driver training, student away at school, good student, hybrid/electric vehicle, and home ownership.
• Nationwide has savings for defensive driving, Farm Bureau membership, anti-theft, easy pay, good student, business or organization, and multi-policy.
• Farmers Insurance includes discounts for multi-car, distant student, mature driver, pay in full, early shopping, business and professional, and good student.
• Esurance policyholders can earn discounts including DriveSense, anti-lock brakes, Switch & Save, renters, and paid-in-full.
• State Farm offers premium reductions for multiple autos, safe vehicle, driver’s education, Drive Safe & Save, and good driver.
• Progressive discounts include online signing, multi-policy, good student, homeowner, continuous coverage, multi-vehicle, and online quote discount.
• Mercury Insurance offers discounts for multi-car, ease of repair, accident-free, location of vehicle, and annual mileage.

Before purchasing a policy, check with every prospective company which discounts you may be entitled to. Some of the earlier mentioned discounts may not be offered in every state. To view insurance companies that offer multiple discounts in Austin, click here to view.

Comparing quotes from local Austin insurance agents

Some consumers would prefer to sit down with an agent and that is recommended in a lot of cases A good thing about getting free rate quotes online is that you can obtain cheap car insurance rates and still have an agent to talk to.

Once you complete this form (opens in new window), the coverage information is sent to local insurance agents who want to provide quotes for your insurance coverage. It’s much easier because you don’t need to search for any insurance agencies because quoted prices will be sent to you directly. You can find the lowest rates and an insurance agent to talk to. If for some reason you want to get a price quote from a specific insurance company, feel free to find their quoting web page to submit a rate quote request.

Finding a good provider shouldn’t rely on just the quoted price. Any agent in Austin should have no problem answering these questions:

• Do they offer claims assistance after hours?
• How long has the business existed?
• Who are their largest clients?
• Which companies do they recommend if they are an independent agency?
• Is the agent properly licensed in Texas?
• Does the agency support the community they serve?
• What is the agency’s Better Business Bureau rating?

If you are wanting to purchase car insurance from a reliable insurance agent, it’s important to understand the different agency structures and how they differ in how they quote coverages. Car insurance policy providers are either independent agents or exclusive agents.

Exclusive Car Insurance Agents

Agents of this type can usually just insure with one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. These agents are unable to give you multiple price quotes so they have to upsell other benefits. Exclusive insurance agents are well trained on what they offer which helps them compete with independent agents. Consumers often purchase coverage from exclusives partially due to loyalty to the company instead of buying on price only.

Shown below are exclusive insurance agencies in Austin that are able to give price quote information.

• Gary Shanahan – State Farm Insurance Agent
  5145 N FM 620 b170 – Austin, TX 78732 – (512) 458-2593 – View Map
• Tony Reyes – State Farm Insurance Agent
  9811 S IH 35 Frontage Rd #120 – Austin, TX 78744 – (512) 851-2539 – View Map
• State Farm: Charlie Anderson
  12710 Research Blvd #210 – Austin, TX 78759 – (512) 258-2231 – View Map

More insurance agents

Independent Agencies or Brokers

These agents often have many company appointments so they can insure your vehicles with multiple insurance companies depending on which coverage is best. If you are not satisfied with one company, your policy is moved internally which makes it simple for you.

When comparing rates, you will want to compare quotes from several independent agencies in order to have the best price comparison. Most can insure with companies you’ve never heard of that may have much lower rates than larger companies.

Shown below is a short list of independent insurance agencies in Austin willing to provide price quotes.

• EZ Insurance Agency – Main
  4502 S Congress Ave – Austin, TX 78745 – (512) 444-4040 – View Map
• Austin Insurance Group
  9705 Burnet Rd #314 – Austin, TX 78758 – (512) 339-2901 – View Map
• Nationwide Insurance: Bill Russell Insurance Agency Inc
  9015 Mountain Ridge Dr #350 – Austin, TX 78759 – (512) 343-1106 – View Map

More insurance agents

After you get good feedback to all your questions and an affordable coverage quote, chances are good that you have found an insurance agency that can properly insure your vehicles. Keep in mind you are able to terminate coverage any time you want so don’t assume that you’re stuck with any specific company for any length of time.

Do you really save 40% when you switch?

Popular car insurance providers such as Progressive, Allstate and GEICO regularly use television, radio, and online ads. They all seem to make the promise about saving some big amount just by switching your car insurance policy to them. Is it even possible that every company can offer drivers better rates? It’s all in the wording.

Different companies give the cheapest rates for the type of insured that will generate a profit. For example, a profitable risk profile might be described as between the ages of 30 and 45, has a clean driving record, and drives a lower-performance vehicle. Any new insured who matches that profile receive the lowest rate quotes in Austin and will most likely cut their rates substantially.

Drivers who fall outside these stringent criteria may be forced to pay higher rates which translates to the driver buying from a lower-cost company. If you pay attention, the ads say “customers who switch” not “everyone that quotes” save money. That’s the way companies can truthfully make those statements. Because of the profiling, you absolutely need to compare free Austin auto insurance quotes often. It’s not possible to predict which car insurance company will have the best rates for your profile.

Detailed coverages of your car insurance policy

Having a good grasp of a car insurance policy can help you determine the best coverages and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy.

Collision coverage protection

This covers damage to your IS 250 caused by collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things like scraping a guard rail, sideswiping another vehicle and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible on your IS 250 to bring the cost down.

Comprehensive auto coverage

This coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as a tree branch falling on your vehicle, rock chips in glass, fire damage, vandalism and damage from getting keyed. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for liability

This protects you from damage or injury you incur to a person or their property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 30/60/25 that translate to $30,000 in coverage for each person’s injuries, a limit of $60,000 in injury protection per accident, and $25,000 of coverage for damaged property.

Liability can pay for things such as emergency aid, court costs, structural damage, medical services and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but you should buy as large an amount as possible. Texas state law requires minimum liability limits of 30/60/25 but you should think about purchasing more liability than the minimum.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like X-ray expenses, surgery and pain medications. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but can be used in place of medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits (30/60/25 in Texas), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Shop smart and save

There are still a few companies who don’t offer online rate quotes and these smaller providers prefer to sell through independent insurance agencies. Cheap Lexus IS 250 insurance in Austin can be sourced both online and also from your neighborhood Austin agents, so you need to compare both in order to have the best chance of saving money.

People leave their current company for a number of reasons such as an unsatisfactory settlement offer, extreme rates for teen drivers, high prices and not issuing a premium refund. No matter why you want to switch, choosing a new company is actually quite simple.

As you restructure your insurance plan, make sure you don’t reduce coverage to reduce premium. There have been many cases where someone dropped physical damage coverage and learned later they didn’t purchase enough coverage. The aim is to buy a smart amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.

For more information, feel free to browse the resources below:

• Help Your Teen Be a Better Driver (State Farm)
• Who Has the Cheapest Austin Auto Insurance for 19 Year Olds? (FAQ)
• Who Has Cheap Auto Insurance for a 20 Year Old Male in Austin? (FAQ)
• Who Has Cheap Auto Insurance for Used Cars in Austin? (FAQ)
• Teen Driver Statistics (Insurance Information Institute)
• Property Damage Coverage (Liberty Mutual)
• What to do at the Scene of an Accident (Insurance Information Institute)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)