Nobody enjoys paying for insurance, especially when they are paying too much. Companies like State Farm, Farmers Insurance, Geico and Allstate increase brand awareness with advertising and it is challenging if not impossible to see past the corporate glitz and do the work needed to find the best deal.
Companies that sell car insurance do not advertise all their discounts very clearly, so the next list breaks down both the well known and the more hidden credits available to bring down your rates.
As is typical with insurance, some of the credits will not apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as liability and collision coverage. Just because it seems like adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
If you would like to view providers that offer multiple discounts, follow this link.
When it comes to buying the right insurance coverage for your personal vehicles, there is no cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions might help in determining if your insurance needs would benefit from an agent’s advice.
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and can help protect your family.
Consumers can’t ignore all the ads for the lowest price insurance coverage by State Farm and Allstate. All the ads try to convey promises about savings if you just switch your policy.
How do they all make almost identical claims?
All the different companies look for specific characteristics for the type of insured that will not have excessive claims. A good example of this type of driver may be between the ages of 30 and 50, has no claims, and chooses high deductibles. Any person that fits those parameters will get a cheap rate quote and is almost guaranteed to save a lot if they switch.
Consumers who do not fit these stringent criteria may receive higher prices and the prospect going elsewhere. The trick companies use is to say “drivers who switch” not “everyone that quotes” can save as much as they claim. This is how companies can make those statements. Each company has different criteria, so you really need to do a quote comparison often. Because without a comparison, you cannot know which company will have the lowest rate quotes.
Knowing the specifics of your car insurance policy can be of help when determining the right coverages and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Listed below are typical coverages found on the average car insurance policy.
This pays for damage to your GS 300 resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like sustaining damage from a pot hole, driving through your garage door, crashing into a ditch and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to bring the cost down.
Liability insurance can cover damage that occurs to other’s property or people in an accident. It protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.
Liability can pay for claims like legal defense fees, medical expenses, medical services, bail bonds and pain and suffering. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.
This provides protection from other motorists when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Lexus GS 300.
Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.
Coverage for medical payments and/or PIP pay for short-term medical expenses like dental work, chiropractic care, funeral costs and surgery. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims like hitting a bird, vandalism, damage from getting keyed and theft. The maximum amount a car insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
We’ve covered some good ideas how to reduce 2004 Lexus GS 300 insurance premium rates online. It’s most important to understand that the more rate quotes you have, the higher your chance of finding cheaper car insurance. You may even find the lowest premium rates come from a small mutual company. They often have lower prices on specific markets than their larger competitors like Allstate or State Farm.
As you quote car insurance, it’s not a good idea to reduce needed coverages to save money. There are many occasions where consumers will sacrifice uninsured motorist or liability limits only to find out that the small savings ended up costing them much more. The ultimate goal is to purchase a proper amount of coverage for the lowest price but still have enough coverage for asset protection.
More tips and info about auto insurance can be read at these sites:
Adrian Mcdowell
Does State Farm have good claim service?
Kena Harper
For me, Allstate was by far the cheapest in Gulfport, MS.
Shenna Daniels
Cheap car insurance? What’s that? From a town just southwest of Boston, MA. Quoted a bunch of companies. Saved right around $30 a month. State Farm was the cheapest option for me. BTW speeding tickets are not good. Hardly afford to drive anymore. Anyone else drop full coverage?
Hermelinda Stone
Cheap is not always the best policy. Proud to be from Huntington, West Virginia. Got prices from Mercury, Farmers, 21st Century, and Auto-Owners for my Lexus and I’m now saving $17 a month.
Julie Davenport
Anyone find cheap rates around Fairbanks, AK?
Jarred Woodard
I got decent rates for a 2004 Lexus GS 300 in Dallas, TX. Ended up at roughly $100 every six months with American Family. They have a lot of discounts available. I just quoted rates online.
Barney Lott
I got a good deal I think. I’m in the north part of Salt Lake City, UT. Checked online prices for a 2004 Lexus GS 300. Ended up at about $110 savings annually. Went with Allstate. They have a lot of discounts available. Still almost need a second mortgage.
Luz Adkins
Affordable car insurance is a myth. I’m in the suburbs of Portland, OR. Quoted a bunch of companies. Saved roughly $20 a month. State Farm was the cheapest for me. I’m a pretty good driver though. Not sure if rates are cheaper online or through an agent.
Hugh Howard
Can you buy custom paint coverage for a 2004 Lexus GS 300?
Gwendolyn Reeves
Got a quote with Mercury for my GS 300 and saved about $70 a year.
Selma Pate
From a town just southwest of Charleston, SC. I compared lots of rates. Saved right around $30 a month. 21st Century was the best choice for me. Left AAA to switch.
Mary Ramirez
It’s all a rip off. I’m just east of Jackson, MS. I don’t recall every quote but I ended up saving about $20 each month. Moved home policy as well. I dropped full coverage awhile back.