How Much Does 2014 Lexus LS 460 Car Insurance Cost?

Trying to come up with a payment for pricey insurance can draw down your personal savings and force you to make sacrifices.

Popular companies such as State Farm, Geico and Farmers Insurance constantly blast consumers with catchy ads and it is challenging if not impossible to not get sucked in by the cute commercials and do the work needed to find the best deal.

Smart consumers take time to get comparison quotes every six months because rates are usually higher with each renewal. Just because you had the best deal on LS 460 coverage two years ago you can probably find a lower rate today. There is lot of inaccurate information about insurance online but I’m going to show you some good information on how to stop overpaying for insurance.

If you have car insurance now, you will be able to cut costs considerably using this information. Finding the best rates is easy if you know what you’re doing. Although consumers can benefit from knowing the methods companies use to price online insurance and apply this information to your search.

Earn discounts to get lower-cost car insurance rates

Car insurance is easily one of your largest bills, but you can get discounts that many consumers don’t even know exist. Some discounts will apply at quote time, but a few must be asked for prior to getting the savings.

• Paperless Signup – A few larger online companies will discount your bill up to fifty bucks get insurance on the internet.
• Braking Control Discount – Cars and trucks with anti-lock braking systems can avoid accidents and the ABS can save up to 10%.
• Discount for Multiple Policies – If you can combine your auto and homeowners policy and insure them both with the same insurance company you may earn 10% to 20% off each policy.
• New Vehicle Savings – Buying insurance coverage on a new vehicle can be considerably cheaper compared to insuring an older model.
• Smart Student Discounts – Excelling in school could provide a savings of up to 20% or more. The discount lasts up to age 25.
• Waiver for an Accident – Not necessarily a discount, but a few companies such as Geico and Liberty Mutual will turn a blind eye to one accident before raising your premiums so long as you are claim-free before the accident.
• Federal Employees – Federal government employees could qualify for a slight premium decrease on LS 460 coverage with a few car insurance companies.
• Military Discounts – Having a deployed family member may lower your premium rates slightly.
• Passive Restraint Discount – Vehicles equipped with air bags or motorized seat belts can qualify for discounts as much as 30%.
• Drive Less and Save – Driving fewer miles can earn lower prices due to less chance of an accident.

As a footnote on discounts, most credits do not apply to the overall cost of the policy. Most cut the cost of specific coverages such as liability, collision or medical payments. Despite the fact that it seems like you would end up receiving a 100% discount, car insurance companies aren’t that generous.

Popular car insurance companies and their offered discounts can be read below.

• AAA offers premium reductions for multi-car, good student, anti-theft, multi-policy, and education and occupation.
• Progressive policyholders can earn discounts including online quote discount, multi-policy, continuous coverage, multi-vehicle, online signing, good student, and homeowner.
• State Farm has discounts for defensive driving training, multiple autos, passive restraint, student away at school, Steer Clear safe driver discount, good student, and driver’s education.
• Esurance may have discounts that include claim free, anti-theft, Pac-12 alumni, Switch & Save, renters, DriveSense, and homeowner.
• Nationwide offers discounts for anti-theft, multi-policy, Farm Bureau membership, defensive driving, business or organization, accident-free, and family plan.

It’s a good idea to ask each insurance company how many discounts you can get. Discounts might not apply everywhere.

Decisions you make can impact your insurance rates

Part of the auto insurance buying process is learning some of the elements that come into play when calculating the rates you pay for auto insurance. If you have a feel for what determines premiums, this allows you to make good choices that will entitle you to lower premium levels.

The factors shown below are some of the factors utilized by car insurance companies to help set premiums.

• Occupation impacts prices – Did you know your career choice can influence rates? Occupational choices like military personnelairline pilots and emergency personnel have higher premium rates in part from stressful work requirements and long work hours. On the other hand, careers like scientists, athletes and performers pay the least on LS 460 coverage.
• Do you have enough liability protection? – Your policy’s liability coverage provides coverage if ever you are found to be at fault for damages caused by your negligence. Your policy’s liability insurance provides you with a defense in court which can cost a lot. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so insureds should have plenty of protection for their assets.
• Never let your policy expire – Having a lapse in insurance coverage is a fast way to increase your rates. Not only will you pay more, being ticketed for driving with no insurance could result in a steep fine or even jail time.
• Prices increase with policy add-ons – Insurance policies have a lot of optional add-on coverages you can purchase on your auto insurance policy. Coverages like rental car reimbursement, accidental death, and additional equipment coverage could be just wasting money. They may sound like good ideas when deciding what coverages you need, but if you don’t need them remove them from your policy.
• Stay claim-free and save money – If you file claims often, you can expect either policy cancellation or increased premiums. Auto insurance companies provide the best rates to policyholders who are claim-free. Insurance coverage is designed for major claims that would cause financial hardship.

Tailor your auto insurance coverage to you

When choosing adequate coverage, there really is not a single plan that fits everyone. Each situation is unique so your insurance needs to address that. For instance, these questions may help highlight whether you might need professional guidance.

• Why is insurance for a teen driver so high?
• Is pleasure use cheaper than using my 2014 Lexus LS 460 to commute?
• What if I total my 2014 Lexus LS 460 and owe more than it’s worth?
• Is my dog or cat covered if injured in an accident?
• Where can I find DUI or SR-22 insurance?
• Does car insurance cover theft of personal property?
• When would I need rental car insurance?
• How do I file an SR-22 for a DUI in my state?

If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

Why you might not save $472 a year

State Farm and Allstate constantly bombard you with ads on TV and radio. All the companies state the claim about how much you will save if you just switch your policy. How does every auto insurance company make the same claim? Just pay attention to how they say it.

Companies have specific criteria for a prospective insured that will add to their bottom line. An example of this type of risk profile might be described as over the age of 35, owns a home, and drives newer vehicles. Someone that matches those criteria will probably get cheap rates and most likely will save if they switch.

Consumers who don’t measure up to these stringent criteria will probably have to pay a higher rate with the end result being the customer buying from someone else. If you listen closely, the ads state “drivers who switch” but not “all drivers who get quotes” can get the lowest rates when switching. This is how insurance companies can confidently make claims that they all have the best rates.

Each company has different criteria, so you should compare many company’s rates. You cannot predict with any certainty which company will have the lowest prices for your situation.

Auto insurance coverages 101

Understanding the coverages of your auto insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Below you’ll find the usual coverages found on the average auto insurance policy.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for immediate expenses for nursing services, funeral costs, EMT expenses and doctor visits. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Collision – This coverage will pay to fix damage to your LS 460 resulting from a collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as sideswiping another vehicle, colliding with another moving vehicle and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Comprehensive coverage – This coverage will pay to fix 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 can pay for things such as falling objects, a broken windshield, hail damage, damage from a tornado or hurricane and hitting a deer. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability – This coverage protects you from damages or injuries you inflict on a person or their property that is your fault. It protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability can pay for claims such as structural damage, repair costs for stationary objects and emergency aid. How much coverage you buy is a personal decision, but consider buying as much as you can afford.

Uninsured/Underinsured Motorist coverage – This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your 2014 Lexus LS 460.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Be a smart shopper

Throughout this article, we presented a lot of tips how to reduce 2014 Lexus LS 460 insurance premium rates online. The key thing to remember is the more companies you get prices for, the better your comparison will be. You may be surprised to find that the biggest savings come from a small mutual company. Smaller companies can often provide lower prices in certain areas as compared to the big name companies such as Allstate and Progressive.

As you prepare to switch companies, it’s a bad idea to skimp on coverage in order to save money. There are too many instances where an insured cut physical damage coverage only to regret that their decision to reduce coverage ended up costing them more. Your strategy should be to purchase plenty of coverage at the best possible price and still be able to protect your assets.

More information is located below:

• Reducing Your Risks in a Car Crash Video (iihs.org)
• All About Airbag Safety (State Farm)
• Teen Driving Statistics (Geico)
• Auto Insurance Facts and Statistics (Insurance Information Insitute)