The easiest way to get budget Lexus RX 350 insurance in Colorado Springs is to start comparing prices yearly from companies that sell auto insurance in Colorado. Price quotes can be compared by following these guidelines.
- Step 1: Take a few minutes and learn about how companies set rates and the things you can change to keep rates down. Many rating factors that drive up the price like accidents, traffic violations, and a low credit score can be amended by making minor changes in your lifestyle. This article gives more information to find cheap rates and get discounts that may be available to you.
- Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from one company like Progressive and State Farm, while agents who are independent can quote rates for a wide range of companies. View insurance agents
- Step 3: Compare the new rate quotes to your existing coverage to see if a cheaper rate is available. If you find a lower rate, make sure coverage is continuous and does not lapse.
- Step 4: Notify your current company of your intent to cancel your current coverage. Submit the required down payment along with the signed application for the new coverage. Immediately upon receiving it, keep the new certificate verifying coverage with your vehicle's registration.
The key thing to remember is to try to compare similar coverage information on every quote and and to compare as many companies as possible. Doing this enables a fair price comparison and a complete selection of prices.
Everyone knows that insurance companies don't want you to look for a cheaper policy. Insureds who perform rate comparisons will, in all likelihood, switch to a new company because there is a significant possibility of getting low-cost coverage. A recent study showed that people who did price comparisons regularly saved $70 a month as compared to drivers who never compared other company's rates.
If finding the cheapest rates on Lexus RX 350 insurance is why you're reading this, then having a good understanding how to shop and compare insurance rates can help simplify the process.
Get discounts on Colorado Springs car insurance
Companies do not advertise all available discounts very well, so we researched a few of the more well known and also the more inconspicuous discounts you could be receiving when you buy Colorado Springs auto insurance online.
- Clubs and Organizations - Affiliation with a civic or occupational organization in Colorado Springs is a good way to get lower rates on your next renewal.
- Accident Waiver - This isn't a discount exactly, but some insurance companies will allow you to have one accident before they charge you more for coverage with the catch being you have to be claim-free for a specific time period.
- Accident Free - Claim-free drivers pay less in comparison to frequent claim filers.
- Paperless Signup - Some car insurance companies provide a small discount for buying a policy and signing up on the web.
- Good Student - Getting good grades may save as much as 25% on a Colorado Springs auto insurance quote. Most companies allow this discount up until you turn 25.
- Multi-car Discount - Buying coverage for several vehicles on one policy can reduce the rates for all insured vehicles.
As a disclaimer on discounts, most discount credits are not given to the whole policy. Most only apply to specific coverage prices like liability and collision coverage. So when it seems like all the discounts add up to a free policy, insurance companies wouldn't stay in business. But any discount will reduce the amount you have to pay.
The information below compares Lexus RX 350 insurance costs with and without policy discounts. The premium estimates are based on a female driver, no violations or accidents, Colorado 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 marriage, claim-free, multi-policy, multi-car, homeowner, and safe-driver discounts applied.
Larger car insurance companies and some of their more popular discounts can be read below.
- GEICO has savings for anti-lock brakes, driver training, federal employee, defensive driver, daytime running lights, good student, and five-year accident-free.
- USAA may offer discounts for defensive driver, vehicle storage, loyalty savings, new vehicle, and multi-vehicle.
- Progressive offers premium reductions for good student, continuous coverage, online quote discount, multi-vehicle, and multi-policy.
- American Family includes discounts for good driver, mySafetyValet, air bags, accident-free, defensive driver, and Steer into Savings.
- Esurance may have discounts that include anti-lock brakes, homeowner, paid-in-full, good driver, claim free, online quote, and renters.
- Farmers Insurance may include discounts for early shopping, distant student, pay in full, youthful driver, business and professional, and switch companies.
- State Farm policyholders can earn discounts including accident-free, Drive Safe & Save, defensive driving training, anti-theft, safe vehicle, good student, and Steer Clear safe driver discount.
It's a good idea to ask each insurance company which discounts you qualify for. Some discounts listed above may not be available in every state. If you would like to see a list of providers that offer many of these discounts in Colorado, click here.
When looking for affordable Colorado Springs auto insurance quotes, there are a couple ways to get quotes from lots of Colorado insurance companies. The fastest way to compare Lexus RX 350 insurance prices is to get quotes online.
Keep in mind that comparing more quotes increases the chance that you will find a lower rate than you're paying now.
The companies shown below have been selected to offer quotes in Colorado Springs, CO. If multiple companies are listed, we suggest you click on several of them to get a more complete price comparison.
Insurance rate breakdown
The coverage table displayed next showcases estimates of coverage costs for Lexus RX 350 models. Learning a little about how auto insurance policy rates are determined can assist in making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RX 350 2WD||$210||$390||$396||$24||$118||$1,138||$95|
|RX 350 4WD||$210||$390||$396||$24||$118||$1,138||$95|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Table data does not factor in Colorado Springs location which can influence coverage rates substantially.
The information below illustrates how your choice of deductibles and can influence Lexus RX 350 insurance premiums for different ages of insureds. Data assumes a married female driver, full physical damage coverage, and no discounts are applied.
Difference between liability only and full coverage rates
The diagram below illustrates the difference between Lexus RX 350 yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no violations or accidents, $500 deductibles, single status, and no other discounts are factored in.
When to drop comp and collision
There is no definitive guideline of when to drop physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let's say your Lexus RX 350 settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $3,000 after paying your deductible. If premium cost is more than $300 annually to have full coverage, then it's probably a good time to buy liability coverage only.
There are some circumstances where removing full coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if you can't afford to buy a different vehicle in the even your car is totaled, you should maintain full coverage.
Choices You Make Can Impact Your Insurance Costs
Lots of factors are part of the equation when you get your auto insurance bill. Some are pretty understandable such as traffic violations, but others are not as apparent like your continuous coverage or your financial responsibility.
Listed below are some of the things that factor into your rate level.
Annual mileage and car insurance prices - The more you drive every year the more you'll pay to insure your vehicle. Many insurance companies apply a rate based on how the vehicle is used. Autos that sit idle most of the time can get a lower rate than vehicles that have high annual mileage. It's always a good idea to double check that your policy properly reflects the correct usage. Improper usage on your RX 350 is just wasting money.
Discounts for married drivers - Your spouse helps lower the price when buying car insurance. Marriage demonstrates that you tend to be less irresponsible and it's statistically proven that married drivers tend to file fewer claims.
Lower performance equals lower insurance rates - The performance level of the car you need insurance for makes a substantial difference in your premium level. The lowest premiums are generally reserved for smaller low performance passenger cars, but your final cost has many other factors.
The following data uses these variables: married male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It compares Lexus RX 350 insurance premiums compared to other models of vehicles that have different performance rating factors.
Where you live factors in - Choosing to live in a rural area has it's advantages when trying to find low car insurance rates. Less people living in that area means less chance of accidents and a lower car theft rate. Residents of big cities have to deal with traffic congestion and much longer commute distances. Spending more time driving means a statistically higher chance of an accident.
Traffic violations will cost you - Only having one speeding ticket or other violation can increase rates to the point where it's not affordable. Drivers with clean records get better prices than their less careful counterparts. Drivers who get license-revoking violations like reckless driving or DUI may face state-mandated requirements to file a proof of financial responsibility form (SR-22) with their state's department of motor vehicles in order to keep their license.
The example below shows how violations and accidents impact Lexus RX 350 insurance premiums for different categories of driver ages. The prices are based on a married female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
Save money by raising deductibles - Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Lexus. Some coverage claims are colliding with a building, damage from fire, or theft. The deductibles are the amount of money you are required to spend out-of-pocket if a claim is determined to be covered. The more you are required to pay out-of-pocket, the lower your rates will be.
Loss statistics for a Lexus RX 350 - Insurance companies include the past claim trends for vehicles to help determine costs. Models that have increased claim numbers or amounts will cost more to insure.
The next table illustrates the insurance loss data used by companies for Lexus RX 350 vehicles. For each insurance policy coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is set at 100. Values that are under 100 suggest a better than average loss history, while values over 100 show a trend for more claims or statistically larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus RX 350 4dr 2WD||111||96||91||72||97||88|
|Lexus RX 350 4dr 4WD||122||99||112||83||75||78|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
It's not one size fits all
Always remember that when buying adequate coverage for your personal vehicles, there is no best way to insure your cars. Coverage needs to be tailored to your specific needs so this has to be addressed. For instance, these questions could help you determine if your situation would benefit from an agent's advice.
- When can I cancel my policy?
- When does my teenage driver need to be added to my policy?
- Am I covered when driving on a suspended license?
- Can my teen driver be rated on a liability-only vehicle?
- Should I buy more coverage than the required Colorado minimum liability coverage?
- If my Lexus RX 350 is totaled, can I afford another vehicle?
If you can't answer these questions, you might consider talking to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.
Comparing quotes from local Colorado Springs car insurance agents
A lot of people would prefer to visit with an insurance agent and that can be a great decision One of the great benefits of comparing insurance prices online is that you can obtain cheap rate quotes and still choose a local agent. Supporting neighborhood insurance agencies is especially important in Colorado Springs.
For easy comparison, once you complete this quick form, your insurance coverage information is instantly submitted to companies in Colorado Springs who can give free rate quotes and help you find cheaper coverage. You never need to leave your house since price quotes are sent instantly to you. You can get cheaper car insurance rates and a licensed agent to talk to. In the event you want to compare prices from a specific company, just find their quoting web page and submit a quote form there.
The following is a list of car insurance companies in Colorado Springs who can help you get price quote information for Lexus RX 350 insurance in Colorado Springs.
- American Family Insurance - Ed Reed
202 E Cheyenne Mountain Blvd k - Colorado Springs, CO 80906 - (719) 540-8400 - View Map
- John Youngdahl - State Farm Insurance Agent
600 N Tejon St - Colorado Springs, CO 80903 - (719) 475-8787 - View Map
- American Family Insurance - Dean Skaret Agency Inc.
2340 Academy Blvd N - Colorado Springs, CO 80909 - (719) 597-4330 - View Map
- American Family Insurance - Michael Brandl Agency Inc.
1965 Dominion Way Ste 120 - Colorado Springs, CO 80918 - (719) 630-7557 - View Map
Finding the right insurance company is decision based upon more than just a cheap price quote. These are valid questions to ask:
- How often do they review policy coverages?
- Does the company have a solid financial rating?
- Do they specialize in personal lines auto insurance in Colorado Springs?
- If your car is totaled, how to they determine the replacement cost?
- Is the quote a firm price?
- What is their Better Business Bureau rating?
- Do they assist clients in filing claims?
- How long has their agency been in business in Colorado Springs?
Three reasons to not skimp on auto insurance
Even though Colorado Springs RX 350 insurance rates can get expensive, maintaining insurance is required for several reasons.
- Most states have compulsory liability insurance requirements which means state laws require a specific minimum amount of liability protection if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your RX 350 has a lienholder, most lenders will make it mandatory that you have full coverage to guarantee their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Lexus for a lot more money and require you to reimburse them the higher premium.
- Auto insurance protects not only your vehicle but also your financial assets. It will also pay for medical bills for you, any passengers, and anyone injured in an accident. Liability coverage also pays expenses related to your legal defense if you cause an accident and are sued. If your Lexus gets damaged, comprehensive and collision coverage will cover the repair costs.
The benefits of buying auto insurance are without a doubt worth the cost, especially for larger claims. On average, a vehicle owner in Colorado Springs is currently overpaying as much as $830 a year so compare rates at every policy renewal to ensure rates are inline.
Cover all your bases
When trying to cut insurance costs, make sure you don't reduce needed coverages to save money. There have been many situations where an insured cut comprehensive coverage or liability limits to discover at claim time that it was a big error on their part. Your strategy should be to buy the best coverage you can find for the lowest price.
You just learned a lot of ways to lower your Lexus RX 350 insurance prices in Colorado Springs. The key concept to understand is the more price quotes you have, the better chance you'll have of finding the cheapest Lexus RX 350 rate quotes. Drivers may even discover the biggest savings come from a small local company. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like Progressive and GEICO.
For more information, feel free to visit the articles below:
- Auto Crash Statistics (Insurance Information Institute)
- What Insurance is Cheapest After a Speeding Ticket in Colorado Springs? (FAQ)
- Who Has Affordable Car Insurance Quotes for Drivers with a DUI in Colorado Springs? (FAQ)
- Safety Belts FAQ (iihs.org)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- Rental Car Insurance Tips (Insurance Information Institute)