Expensive insurance in Los Angeles can dwindle your bank account and put the squeeze on your family's finances.
Inconceivable but true, the majority of drivers renewed their policy with the same company for a minimum of four years, and almost half have never quoted rates to find cheaper coverage. Los Angeles drivers could save an average of as much as $500 each year just by getting comparison quotes, but they just don't want to shop their coverage around. Numerous insurance companies battle for your hard-earned dollar, and it can be difficult to compare rates and get the best coverage at the lowest rate possible on Lexus RX 350 insurance in Los Angeles.
You need to compare rates as often as possible because insurance rates go up and down regularly. Despite the fact that you may have had the lowest premium rates on Lexus RX 350 insurance in Los Angeles six months ago you can probably find a better price now. Forget anything you know (or think you know) about insurance because I'm going to let you in on the secrets to the best way to buy cheaper Lexus RX 350 insurance in Los Angeles.
If you are already insured or just want to reduce your rates, use these money-saving tips to get lower rates without reducing protection. Buying the cheapest insurance in Los Angeles is easy if you know what you're doing. Shoppers just need to use the least time-consuming way to compare insurance rates from many different companies online.
Reducing your insurance rates is a fairly straight forward process. The only thing you need to do is take a few minutes to get quotes to find out which insurance company has cheaper Los Angeles car insurance quotes.
Comparison shopping rate quotes online is easy and it makes it a waste of time to call or drive to different agent offices. The ability to get quotes online has reduced the need for local agents unless your situation requires the trained guidance that can only be provided by a licensed insurance agent. Although, it is possible get prices online but have a local agent actually write the policy.
The companies in the list below are ready to provide free quotes in Los Angeles, CA. If multiple providers are shown, we suggest you visit several of them in order to find the lowest rates.
Affordable Los Angeles insurance rates with discounts
Some companies don't always advertise every possible discount in an easy-to-find place, so we researched a few of the more common as well as some of the hidden discounts you could be receiving when you buy Los Angeles car insurance online.
- Distant Student Discount - Youth drivers who attend college more than 100 miles from Los Angeles and don't have a car can receive lower rates.
- Homeowners Savings - Just owning your own home can get you a discount because owning a home shows financial diligence.
- Good Student Discount - Excelling in school can earn a discount of 20% or more. Most companies allow this discount until age 25.
- Federal Government Employee - Being employed by or retired from a federal job could provide a small rate reduction with select insurance companies.
- New Vehicle Savings - Insuring a new RX 350 is cheaper because newer vehicles keep occupants safer.
As a sidenote, some credits don't apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like liability and collision coverage. Even though it appears it's possible to get free car insurance, companies don't profit that way.
The information below illustrates the difference between Lexus RX 350 insurance prices with and without discounts. Data assumes a female driver, no claims or driving citations, California state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, multi-car, safe-driver, homeowner, and marriage discounts applied.
A few of the larger companies and a selection of discounts can be read below.
- Farm Bureau policyholders can earn discounts including youthful driver, driver training, 55 and retired, good student, and safe driver.
- MetLife offers discounts for multi-policy, good student, good driver, claim-free, and accident-free.
- Progressive offers premium reductions for online quote discount, continuous coverage, multi-policy, good student, and homeowner.
- AAA may have discounts that include AAA membership discount, good student, multi-car, anti-theft, and multi-policy.
- American Family may include discounts for good student, mySafetyValet, good driver, accident-free, defensive driver, and bundled insurance.
- GEICO has discounts for anti-lock brakes, federal employee, multi-policy, daytime running lights, anti-theft, and multi-vehicle.
- State Farm includes discounts for defensive driving training, safe vehicle, driver's education, anti-theft, Steer Clear safe driver discount, and passive restraint.
It's a good idea to ask all the companies which credits you are entitled to. Some of the discounts discussed earlier might not apply in your area.
Car insurance statistics for a Lexus RX 350
The coverage information displayed next highlights estimates of insurance policy prices for Lexus RX 350 models. Having a better idea how car insurance prices are determined can assist in making informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RX 350 2WD||$348||$630||$500||$30||$150||$1,658||$138|
|RX 350 4WD||$348||$630||$500||$30||$150||$1,658||$138|
|Get Your Own Customized Quote Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Premium amounts do not factor in specific garaging location which can modify premium rates considerably.
The diagram below highlights how deductible choice and can raise or lower Lexus RX 350 insurance premiums for different age groups. The data is based on a married male driver, full physical damage coverage, and no additional discounts are factored in.
Gender-based car insurance rates by age
The chart below shows the comparison of Lexus RX 350 insurance premiums for male and female drivers. The prices are based on no claims or driving citations, full coverage, $500 deductibles, drivers are single, and no additional discounts are factored in.
Rate difference between full and liability-only coverage
The information below compares Lexus RX 350 insurance rates when comparing full coverage to state minimum liability only. The information is based on no driving violations, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are factored in.
Should you be buying full coverage?
There is no definitive rule to eliminate full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's assume your Lexus RX 350 replacement cost is $5,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $4,000 after paying your deductible. If premiums are more than $400 a year for full coverage, then you might consider buying liability only.
There are some situations where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder's interest. Also, if you can't afford to buy a different vehicle in case of an accident, you should not buy liability only.
When to contact an agent
Some people prefer to visit with an insurance agent and that is not a bad decision Professional insurance agents can help determine the best coverages and will help you if you have claims. A good thing about comparing rate quotes online is you can get lower rates but still work with a licensed agent.
After completing this form (opens in new window), your information is immediately sent to local insurance agents who want to provide quotes for your coverage. You don't have to search for an agent because quoted prices will be sent to you instantly. If you need to compare rates from a specific insurance company, you just need to find their quoting web page and fill out the quote form the provide.
Choosing an provider requires more thought than just the premium amount. Any agent in Los Angeles should have no problem answering these questions:
- Do they specialize in personal lines auto insurance in Los Angeles?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- When do they do a full risk review?
- How many years of experience in personal auto insurance do they have?
- Do they make recommendations based only on price?
Is an exclusive or independent car insurance agent right for you?
If you want to use an insurance agent, you need to know there are two different types of agents and how they operate. Agents in Los Angeles can be categorized as either independent agents or exclusive agents. Either one can do a good job, but it's good to learn the difference between them because it can impact buying decisions.
Exclusive Car Insurance Agents
Agents that elect to be exclusive have only one company to place business with and examples are Allstate and State Farm. They generally cannot compare rates from other companies so they have to upsell other benefits. Exclusive agencies are well schooled on what they offer which aids in selling service over price.
Shown below are Los Angeles exclusive agents who may provide you with price quotes.
Independent Car Insurance Agencies
Agents of this type do not work for one specific company and that gives them the ability to insure with any number of different companies and find the cheapest rate. If your agent finds better pricing, they can switch companies in-house which makes it simple for you. When comparing car insurance prices, you will want to include rate quotes from multiple independent agents in order to have the best price comparison.
Listed below are independent agencies in Los Angeles that are able to give comparison quotes.
If you get answers to your satisfaction to all your questions in addition to an acceptable price estimate, you have narrowed it down to a car insurance agent that is reliable enough to adequately provide car insurance.
Three main reasons to buy insurance
Even though it's not necessarily cheap to insure a Lexus in Los Angeles, buying insurance is mandatory in California but it also protects more than you think.
- Most states have minimum mandated liability insurance limits which means the state requires a specific level of liability coverage if you want to drive legally. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you took out a loan on your Lexus, most banks will force you to have full coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank may insure your Lexus for a much higher rate and force you to pay the higher premium.
- Insurance protects not only your vehicle but also your assets. It will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability coverage will also pay attorney fees if you are sued as the result of your driving. If your Lexus gets damaged, your policy will pay to repair the damage minus the deductible amount.
The benefits of having insurance definitely exceed the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying over $825 a year so you should quote your policy with other companies at every policy renewal to make sure the price is not too high.
Car insurance coverages for a Lexus RX 350
Understanding the coverages of a insurance policy helps when choosing the best coverages and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. Listed below are typical coverages found on the average insurance policy.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as your vehicle's damage.
Since many California drivers carry very low liability coverage limits (15/30/5 in California), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Coverage for collisions
Collision insurance pays for damage to your RX 350 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as crashing into a building, colliding with a tree, hitting a parking meter, sideswiping another vehicle and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. It's also possible to raise the deductible on your RX 350 to bring the cost down.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like funeral costs, hospital visits, X-ray expenses, dental work and nursing services. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive auto coverage
This coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like rock chips in glass, falling objects, fire damage, damage from flooding and vandalism. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle's value consider removing comprehensive coverage.
Liability auto insurance
Liability coverage provides protection from damage that occurs to people or other property that is your fault. This coverage protects you from claims by other people, and doesn't cover your own vehicle damage or injuries.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 15/30/5 that translate to $15,000 bodily injury coverage, $30,000 for the entire accident, and a total limit of $5,000 for damage to vehicles and property.
Liability insurance covers things like attorney fees, emergency aid, legal defense fees, repair costs for stationary objects and bail bonds. The amount of liability coverage you purchase is a decision to put some thought into, but it's cheap coverage so purchase as high a limit as you can afford. California requires minimum liability limits of 15/30/5 but you should consider buying more liability than the minimum.
The illustration below demonstrates why buying the state minimum limits may not be enough coverage.
Cheaper insurance is a realistic goal
Some insurance companies do not provide rate quotes online and usually these small insurance companies work with independent insurance agencies. Lower-priced insurance in Los Angeles can be bought online in addition to local insurance agencies, and you need to price shop both so you have a total pricing picture.
Throughout this article, we presented a lot of tips how to save on Lexus RX 350 insurance in Los Angeles. The key thing to remember is the more companies you get prices for, the more likely it is that you will get a better rate. Consumers may even find the lowest priced insurance comes from the smaller companies. Regional companies can often provide lower prices in certain areas than the large multi-state companies such as State Farm and Allstate.
When shopping online for insurance, never reduce coverage to reduce premium. In many instances, someone sacrificed physical damage coverage only to find out that they should have had better coverage. The proper strategy is to buy enough coverage at the best possible price, but do not skimp to save money.
For more information, link through to the articles below:
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance for Police Officers in Los Angeles? (FAQ)
- How Much are Car Insurance Quotes for a Honda Pilot in Los Angeles? (FAQ)
- How Much are Auto Insurance Rates for 18 Year Olds in Los Angeles? (FAQ)
- Who Has Cheap Los Angeles Auto Insurance Rates for Drivers Over Age 60? (FAQ)
- How Much is Los Angeles Auto Insurance for Drivers with Good Credit? (FAQ)
- Who Has Affordable Los Angeles Car Insurance Rates for Drivers Under 21? (FAQ)
- Top Signs Your Brakes are Giving Out (State Farm)
- Credit Impacts Car Insurance Rates (State Farm)
- Keeping Children Safe in Crashes Video (iihs.org)