No sane person likes paying for car insurance, especially when they know they could find lower prices if they just compared rates.
Insurance companies such as Allstate, Progressive and Geico constantly blast consumers with ads and it can be hard to not get sucked in by the cute commercials and do the work needed to find the best deal.
Insurance is expensive, but there’s a good chance there are discounts that may help make it more affordable. Many discounts should be triggered at the time of purchase, but some may not be applied and must be requested specifically before being credited.
Don’t be shocked that most discount credits are not given to the entire cost. Most only reduce individual premiums such as collision or personal injury protection. If you do the math and it seems like you would end up receiving a 100% discount, insurance companies aren’t that generous.
For a list of insurers that offer multiple discounts, click this link.
When buying adequate coverage, there isn’t really a “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine whether or not you would benefit from an agent’s advice.
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an agent. If you don’t have a local agent, complete this form or click here for a list of car insurance companies in your area.
Learning about specific coverages of your policy aids in choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types found on most insurance policies.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses such as hospital visits, nursing services, dental work, chiropractic care and surgery. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as damage to your 2018 Lexus LC 500h.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Usually these limits do not exceed the liability coverage limits.
Collision – This coverage pays for damage to your LC 500h resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like damaging your car on a curb, colliding with a tree, backing into a parked car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.
Comprehensive insurance – This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as damage from flooding, fire damage, falling objects and vandalism. The maximum amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Auto liability insurance – This coverage will cover damages or injuries you inflict on a person or their property. It protects YOU against other people’s claims, and doesn’t cover your injuries or vehicle damage.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 100/300/100 that means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things like legal defense fees, attorney fees, structural damage, repair bills for other people’s vehicles and bail bonds. How much liability should you purchase? That is a decision to put some thought into, but consider buying as high a limit as you can afford.
There are still a few companies who may not have rates over the internet and usually these small insurance companies sell through independent agents. Budget-friendly auto insurance is possible on the web and from local agencies, so you should be comparing quotes from both to get a complete price analysis.
We just showed you many tips how you can lower your 2018 Lexus LC 500h insurance car insurance rates. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding low cost insurance coverage. You may even find the lowest car insurance rates are with a company that doesn’t do a lot of advertising. Smaller companies can often provide lower premium rates in certain areas compared to the large companies like Allstate or State Farm.
Additional detailed information can be found by following these links:
I think I’m paying too much. I live just to the west of Norfolk, Virginia. I quoted with AAA, Eastwood, and Safeco for my 2018 Lexus LC 500h and I think I saved about $20 each month. I get multi-vehicle and multi-policy discounts.
If you have a good history and live in the vicinity of Fort Smith, Arkansas, check out 21st Century. They seem to be cheaper. Insured with Liberty Mutual before. Hopefully won’t need it. It’s still not cheap enough.