Best Lexus ES 350 Insurance in Colorado Springs

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We don't have to point out that fact that insurance companies don't want you comparing rates. Drivers who shop around once a year will most likely switch insurance companies because there is a good chance of finding better rates. A study showed that drivers who compared rates annually saved an average of $3,450 over four years compared to people who never shopped around for better prices.

If finding low prices for auto insurance is your goal, knowing how to get free comparison quotes and analyze coverages can make it simple to find affordable coverage.

Discount Lexus ES 350 insuranceTo save the most money, the best way to quote cheaper Lexus ES 350 insurance is to start comparing rates regularly from insurers that insure vehicles in Colorado Springs.

  1. Get a basic knowledge of how auto insurance works and the things you can change to lower rates. Many factors that result in higher prices such as accidents, traffic violations, and poor credit history can be improved by making minor changes to your lifestyle.
  2. Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like GEICO and State Farm, while agents who are independent can provide prices for many different companies.
  3. Compare the new quotes to the premium of your current policy to determine if you can save on ES 350 insurance. If you find a lower rate quote and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.

A key point to remember is to use the same liability limits and deductibles on each quote request and and to get rate quotes from as many companies as possible. This ensures a level playing field and the best rate selection.

If you already have coverage, you will definitely be able to get lower rates using the tips covered below. Buying the cheapest auto insurance in Colorado Springs is quite easy. Although Colorado vehicle owners should learn how the larger insurance companies calculate your policy premium because it varies considerably.

Verify you're getting every discount

Some insurance providers do not list all their discounts very well, so the list below contains a few of the more common as well as some of the hidden auto insurance savings. If you're not getting every credit available, you are paying more than you should be.

  • Government Employee Discount - Active or retired federal employment can save as much as 8% with select insurance companies.
  • Own a Home - Owning a home in Colorado Springs can earn you a little savings because maintaining a house requires personal responsibility.
  • Organization Discounts - Being in qualifying clubs or civic groups may earn a discount on your bill.
  • Military Rewards - Having an actively deployed family member could trigger a small discount.
  • Good Grades Discount - Being a good student can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.
  • Senior Citizen Discount - Seniors may qualify for a discount up to 10%.

A little disclaimer on discounts, most discount credits are not given to the entire policy premium. A few only apply to the cost of specific coverages such as collision or personal injury protection. So even though you would think adding up those discounts means a free policy, company stockholders wouldn't be very happy.

The illustration below compares Lexus ES 350 insurance premiums with and without discounts applied. The premiums assume a female driver, no violations or claims, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-car, multi-policy, claim-free, and marriage discounts applied.

Companies and their offered discounts are shown below.

  • Progressive offers discounts including multi-vehicle, online signing, good student, online quote discount, homeowner, and multi-policy.
  • SAFECO has savings for drive less, anti-theft, teen safe driver, teen safety rewards, and accident prevention training.
  • American Family has discounts for early bird, accident-free, multi-vehicle, Steer into Savings, and mySafetyValet.
  • MetLife may include discounts for defensive driver, multi-policy, accident-free, claim-free, good student, good driver
  • GEICO may offer discounts for federal employee, good student, military active duty, daytime running lights, and multi-policy.
  • The Hartford discounts include anti-theft, defensive driver, driver training, bundle, good student, and air bag.

When getting free Colorado Springs auto insurance quotes, it's a good idea to every prospective company which discounts you may be entitled to. Some discounts might not be offered in your area. To view providers who offer auto insurance discounts in Colorado Springs, click here to view.

When price shopping your coverage, quoting more gives you a better chance of getting more affordable rates. Not every company does Colorado Springs ES 350 insurance quotes online, so it's important to compare price quotes from those companies as well.

The providers in the list below provide price quotes in Colorado Springs, CO. To locate the best car insurance in Colorado, we suggest you compare several of them to find the lowest car insurance rates.

Lexus ES 350 insurance coverage information

The price information shown below highlights different policy rates for Lexus ES 350 models. Knowing how policy premiums are figured is important for drivers to make smart choices when purchasing an auto insurance policy.

Lexus ES 350 Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $240 $390 $392 $24 $118 $1,164 $97
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Premium costs do not factor in vehicle location which can alter prices noticeably.

Should you raise deductibles?

When shopping for auto insurance, a common question is which deductibles should you choose. The figures shown below can help illustrate the differences in price when you choose different policy deductibles. The first data table uses a $250 deductible and the second data table uses a $500 deductible.

Lexus ES 350 insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $342 $620 $298 $18 $90 $1,393 $116
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Lexus ES 350 insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $278 $500 $298 $18 $90 $1,184 $99
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium costs do not factor in specific zip code location which can modify coverage prices considerably.

We can derive from the above data that using a $250 deductible costs approximately $17 more each month or $204 a year than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 15 months between claims, you would probably be better off if you choose a higher deductible.

The illustration below shows how different deductible levels and can impact Lexus ES 350 annual premium costs for each age group. The premiums are based on a married female driver, full coverage, and no discounts are applied to the premium.

Safe drivers pay less for auto insurance

The diagram below demonstrates how traffic citations and at-fault collisions drive up Lexus ES 350 yearly insurance costs for each different age group. The information is based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.

Lexus ES 350 insurance costs by gender and age

The illustration below shows the difference between Lexus ES 350 yearly insurance costs for male and female drivers. The premiums are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are applied.

Rate comparison of full coverage and liability-only

The chart below compares Lexus ES 350 auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no violations or claims, $250 deductibles, single marital status, and no additional discounts are factored in.

When to drop full coverage

There is no set rule for phasing out full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let's assume your Lexus ES 350 claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying the physical damage deductible. If you are currently paying more than $500 annually for comprehensive and collision coverage, then it might be time to buy liability only.

There are some situations where eliminating full coverage is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not buy liability only.

Lower Your Colorado Springs Insurance Premiums

Many factors are considered when premium rates are determined. Some are obvious like a motor vehicle report, but others are more obscure such as your credit history or your financial responsibility.

  • Higher rates for specific occupations - Did you know that where you work can have an impact on rates? Occupations such as military generals, police officers, and financial analysts are shown to have the highest average rates attributed to high stress and extremely grueling work hours. Conversely, professions such as actors, athletes and homemakers pay the least.
  • Companies want multiple policies - Most major companies will award a discount to people who have multiple policies with them. It's known as a multi-policy discount. Discounts can add up to 10 percent or more. Even if you qualify for this discount already, it's always a smart idea to compare other company rates to help guarantee you have the best rates. Consumers may save more without the discount by buying insurance from more than one company.
  • Safer cars save money - Vehicles with good safety scores get lower rates. Safer cars have better occupant injury protection and any reduction in injury severity means your insurance company pays less and thus lower rates. If your Lexus ES 350 scored at minimum an "acceptable" rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
  • Know your credit score - Having a good credit score will be a significant factor in your rate calculation. People that have excellent credit scores tend to be better risks to insure than drivers who have lower ratings. If your credit could use some work, you may save money insuring your Lexus ES 350 by spending a little time repairing your credit.
  • High claims frequency drives up insurance rates - Companies in Colorado generally give cheaper rates to policyholders who file claims infrequently. If you are the type of insured that files lots of claims you can look forward to increased rates or even have your policy non-renewed. Your insurance policy is intended to be relied upon for more catastrophic claims.
  • Insurance loss probability for a Lexus ES 350 - Insurance companies use claims history to help calculate a profitable premium rate. Models that the statistics show to have increased claim numbers or amounts will cost more for specific coverages.

    The table below outlines the insurance loss data for Lexus ES 350 vehicles. For each type of coverage, the loss probability for all vehicles averaged together is equal to 100. Values that are 100 or less suggest losses that are better than average, while values over 100 point to more claims or an increased chance of a larger loss.

    Lexus ES 350 Insurance Claim Statistics
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Lexus ES 350 4dr 126 79 160 91 100 78

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

When should I contact a local insurance agent?

A lot of people still like to buy from a local agent and doing so can bring peace of mind An additional benefit of price shopping on the web is you can get cheaper prices and still have an agent to talk to.

Insurance agency in Colorado SpringsBy using this simple form, your coverage information is transmitted to companies in Colorado Springs that provide free Colorado Springs auto insurance quotes and help you find cheaper coverage. There is no need to find an agent on your own since rate quotes are delivered to you instantly. You'll get the best rates without having to waste a lot of time. In the event you want to compare prices for a specific company, you just need to jump over to their website to submit a rate quote request.

Finding the right company requires you to look at more than just the premium amount. The answers to these questions are important, too.

  • How often do they review policy coverages?
  • Will a damage claim use OEM or aftermarket replacement parts?
  • Will they give you a referral list?
  • If you raise deductibles, how much can you save?
  • Will they make sure you get an adequate claim settlement?
  • Is every driver in your family covered?

Listed below is a short list of auto insurance companies in Colorado Springs that are able to give price quote information for Lexus ES 350 insurance in Colorado Springs.

106 N Circle Drive - Colorado Springs, CO 80909 - (719) 633-0300 - View Map

1957 W Uintah St - Colorado Springs, CO 80904 - (719) 477-1636 - View Map

1135 E Fillmore St - Colorado Springs, CO 80907 - (719) 570-0707 - View Map

5155 N Academy, #110 - Colorado Springs, CO 80918 - (719) 622-3079 - View Map

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After talking to the agent and getting acceptable answers to these questions and a low price estimate, you may have found an insurer that can be relied on to service your policy.

Why you need insurance for your vehicle

Despite the high insurance cost for a Lexus ES 350 in Colorado Springs, insurance is most likely required but also gives you several important benefits.

  • Almost all states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability in order to license the vehicle. 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 you bought your Lexus with a loan, almost every bank will make it a condition of the loan that you have physical damage coverage to guarantee loan repayment. If the policy lapses, the lender may insure your Lexus at a significantly higher premium and force you to pay the higher price.
  • Insurance preserves not only your car but also your assets. It will also provide coverage for many types of medical costs incurred in an accident. One policy coverage, liability insurance, will also pay to defend you if you are sued as the result of an accident. If damage is caused by hail or an accident, your insurance policy will cover the repair costs.

The benefits of carrying enough insurance greatly outweigh the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer overpays as much as $850 per year so you should quote and compare rates at least once a year to ensure rates are competitive.

Final considerations

A few companies do not offer rate quotes online and most of the time these smaller companies work with independent agents. The cheapest Lexus ES 350 insurance in Colorado Springs can be found on the web as well as from insurance agents, and you should be comparing both so you have a total pricing picture.

As you go through the steps to switch your coverage, it's not a good idea to skimp on critical coverages to save a buck or two. There have been many situations where someone sacrificed comprehensive coverage or liability limits and discovered at claim time that it was a big mistake. The aim is to buy enough coverage at an affordable rate.

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