2007 Lexus LX 470 Insurance Cost – 7 Tips for Cheapest Prices

I can’t think of anyone who likes paying for auto insurance, particularly when the cost is too high.

There is such a variety of insurers to insure vehicles with, and although it’s nice to have a selection, it makes it harder to find the lowest cost provider.

Cheap insurance rates with discounts

Some companies don’t always advertise all available discounts in an easy-to-find place, so below is a list a few of the more common in addition to some of the lesser obvious discounts that may be available.

• Seat Belt Discounts – Buckling up and requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) off the personal injury premium cost.
• Claim-Free Discount – Drivers with accident-free driving histories are rewarded with significantly better rates on insurance quote when compared to frequent claim filers.
• Discount for Low Mileage – Low mileage vehicles can earn slightly better insurancerates than normal.
• Professional Memberships – Participating in certain professional organizations is a good way to get lower rates on your policy.
• Government Employees – Employees or retirees of the government can save as much as 8% on LX 470 coverage with a few insurance companies.
• Active Service Discounts – Having a deployed family member can result in better prices.
• Own a Home – Being a homeowner can help you save on insurance because owning a home requires personal responsibility.

Don’t be surprised that most credits do not apply to all coverage premiums. Most only cut the cost of specific coverages such as comp or med pay. Just because you may think you could get a free insurance policy, it doesn’t quite work that way. But any discount should help reduce your overall premium however.

For a list of insurance companies that have a full spectrum of discounts, click here.

Tailor your car insurance coverage to you

When choosing proper insurance coverage, there is no best way to insure your cars. Each situation is unique so your insurance should reflect that For instance, these questions may help you determine whether or not you might need professional guidance.

• Do I need added coverage for expensive stereo equipment?
• Will I be non-renewed for getting a DUI or other conviction?
• Am I covered if I drive in a foreign country?
• How much can I save by bundling my policies?
• Does my liability insurance cover pulling a trailer or camper?
• Do I have coverage when making deliveries for my home business?
• What is the minimum liability in my state?
• Am I covered if hit by an uninsured driver?
• Is business property covered if stolen from my car?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Specifics of your insurance policy

Learning about specific coverages of your insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Insurance terms can be confusing and reading a policy is terribly boring. These are typical coverages available from insurance companies.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP reimburse you for short-term medical expenses like surgery, chiropractic care and pain medications. The coverages can be utilized in addition to your health insurance program or if you lack health insurance entirely. They cover all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage

Comprehensive insurance

Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like hitting a deer, theft, damage from a tornado or hurricane, hitting a bird and damage from flooding. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Collision coverage

Collision coverage covers damage to your LX 470 from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like colliding with another moving vehicle, sideswiping another vehicle, rolling your car, damaging your car on a curb and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants as well as damage to your Lexus LX 470.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Auto liability

This coverage provides protection from damage that occurs to people or other 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 limits of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims such as repair bills for other people’s vehicles, loss of income and medical expenses. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible.

At the end of the day…

Some companies may not offer rates over the internet and many times these regional carriers work with independent agents. Low-cost 2007 Lexus LX 470 insurance is available online in addition to local insurance agencies, and you need to comparison shop both so you have a total pricing picture.

You just learned quite a bit of information on how to lower your 2007 Lexus LX 470 insurance premium rates. It’s most important to understand that the more price quotes you have, the better your chances of lowering your prices. Consumers may even find the best price on auto insurance is with the smaller companies. Some small companies may have significantly lower prices on certain market segments than the large multi-state companies such as Progressive or Geico.

Much more information about auto insurance can be found on the following sites:

• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Car Insurance FAQ (Trusted Choice)
• Safe Vehicles for Teens (iihs.org)
• Drunk Driving Statistics (Insurance Information Insitute)
• Vehicle Safety Ratings (iihs.org)