Would you like to find cheaper Lexus RX 350 insurance in El Paso? I really doubt anyone rejoices having to buy auto insurance, especially knowing they could lower their rates if they shopped around.
A recent NerdWallet.com study revealed that the vast majority of consumers in Texas kept their policy with the same company for more than four years, and approximately 40% of consumers have never shopped around. U.S. insurance shoppers could pocket nearly 47% a year, but they don’t invest the time required to compare rates online.
Steps to finding more affordable Lexus RX 350 insurance in El Paso
The recommended way to get affordable Lexus RX 350 insurance in El Paso is to do an annual price comparison from insurers in Texas. Drivers can shop around by following these steps.
- First, try to comprehend how your policy works and the measures you can control to keep rates in check. Many rating criteria that cause rate increases such as traffic citations, accidents, and a less-than-favorable credit history can be eliminated by paying attention to minor details.
- Second, quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like Progressive and State Farm, while independent agents can provide price quotes for a wide range of companies. Click to view companies
- Third, compare the new rates to your existing rates and see if you can save money. If you find a lower rate, make sure there is no lapse in coverage.
A good tip to remember is to make sure you enter identical coverage information on each quote and and to look at every company you can. Doing this ensures the most accurate price comparison and a good representation of prices.
Lots of car insurance companies contend for your hard-earned dollar, so it’s not easy to compare every insurer to find the lowest rate possible on Lexus RX 350 insurance in El Paso.
You need to compare premium rates once or twice a year because prices tend to go up over time. Even if you got the best rate on Lexus RX 350 insurance in El Paso a few years ago there is a good chance you can find better premium rates now. Forget anything you know (or think you know) about auto insurance because I’m going to let you in on the secrets to the things you must know in order to find better coverage on Lexus RX 350 insurance in El Paso at a better price.
If you’re already insured, you will surely be able to shop for the lowest rates using this information. Choosing the most cost-effective auto insurance policy in El Paso is easy if you know what you’re doing. Nevertheless, Texas consumers benefit from understanding the way insurance companies sell insurance online and take advantage of how the system works.
It’s important to know that having more price comparisons helps locate the best offered rates.
The following companies can provide price quotes in Texas. If multiple providers are shown, we suggest you visit two to three different companies to find the most affordable car insurance rates.
Auto insurance data for a Lexus RX 350
The premium information shown next showcases detailed analysis of insurance coverage prices for Lexus RX 350 models. Being more informed about how insurance premiums are figured can benefit drivers when making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $254 | $520 | $582 | $34 | $174 | $1,564 | $130 |
| RX 350 4WD | $254 | $520 | $582 | $34 | $174 | $1,564 | $130 |
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Price estimates do not factor in specific location information which can affect premiums considerably.
Rate comparison for different deductibles
One of the more difficult decisions when buying auto insurance is which deductible level should you buy. The rates shown below sum up how much more rates are between high and low physical damage coverage deductibles. The first rate quote example uses a $100 comprehensive and collision deductible and the second price table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $412 | $804 | $430 | $26 | $128 | $1,825 | $152 |
| RX 350 4WD | $412 | $804 | $430 | $26 | $128 | $1,825 | $152 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $228 | $424 | $430 | $26 | $128 | $1,236 | $103 |
| RX 350 4WD | $228 | $424 | $430 | $26 | $128 | $1,236 | $103 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Premium amounts do not factor in specific zip code location which can influence premium rates significantly.
Using the data above, we can ascertain that using a $100 deductible costs an average of $49 more each month or $588 each year than requesting the higher $1,000 deductible. Because you would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you have at least 18 months between claims, you would save more money if you opt for a higher deductible.
The diagram below demonstrates how deductible levels and can increase or decrease Lexus RX 350 insurance premiums for different age groups of insureds. The data is based on a married male driver, full physical damage coverage, and no discounts are applied.
Careless driving habits raise auto insurance rates
The diagram below shows how violations and at-fault collisions drive up Lexus RX 350 yearly insurance costs for different age groups of insureds. The premiums assume a married female driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
Male drivers compared to female drivers
The example below compares Lexus RX 350 premium costs for male and female drivers. The premiums are based on no claims or driving citations, comprehensive and collision coverage, $500 deductibles, drivers are single, and no discounts are factored in.
Difference between full coverage and liability only rates
The information below shows the difference between Lexus RX 350 insurance rates when comparing full coverage to liability only. The price estimates are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no discounts are applied to the premium.
When to switch to liability coverage only
There is no clear-cut formula that is best for determining when to drop full coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Lexus RX 350 settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after you pay the deductible. If you are paying in excess of $500 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some conditions where buying only liability insurance is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Choosing vehicle insurance is an important decision
Even though it can be expensive, insurance is most likely required but also gives you several important benefits.
- Almost all states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability insurance coverage in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your RX 350 with a loan, it’s guaranteed your bank will require that you buy full coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Lexus at a much higher premium rate and force you to pay a much higher amount than you were paying before.
- Auto insurance protects not only your Lexus RX 350 but also your financial assets. It will also reimburse you for most medical and hospital costs that are the result of an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you are sued as the result of an accident. If you have damage to your Lexus as the result of the weather or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your car greatly outweigh the cost, especially with large liability claims. On average, a vehicle owner in El Paso is currently overpaying as much as $869 every year so smart consumers compare quotes every year to ensure rates are inline.
How Your RX 350 Insurance Costs are Determined
Many different elements are used when you get your auto insurance bill. Most are fairly basic such as your driving record, but other criteria are more transparent such as your credit history or how safe your car is.
The list below includes some of the things used by companies to determine your rates.
Insurance companies don’t like frequent claims – If you file claims often, you can definitely plan on higher premiums or even policy non-renewal. Insurance companies in Texas give the best rates to insureds who only file infrequent claims. Auto insurance is intended for claims that pose a financial burden.
High credit scores save money – An insured’s credit score can be a huge factor in determining your rates. Therefore, if your credit history can use some improvement, you could potentially save money when insuring your Lexus RX 350 by spending a little time repairing your credit. Insureds that have good credit tend to be better drivers and file fewer claims as compared to drivers with poor credit scores.
Mileage impacts prices – Driving a lot of miles in a year the higher the price you pay to insure it. Most companies charge rates determined by how the vehicle is used. Cars that have low annual miles qualify for better rates as compared to vehicles used primarily for driving to work. Double check that your policy reflects the correct usage, because it can save money. An incorrectly rated RX 350 is throwing money out the window.
Little extras can really add up – There are a lot of optional add-on coverages you can purchase but may not be useful. Coverage for things like vanishing deductibles, death and dismemberment, and term life insurance are probably not needed. They may sound like good ideas when buying your policy, but your needs may have changed so get rid of them and save.
Older drivers pay less – Teen drivers in Texas have a tendency to be careless and easily distracted when driving with friends and because of this, their insurance rates are much higher. More experienced drivers are proven to be safer behind the wheel, tend to file fewer claims, and usually have better credit.
The following chart assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.
Protect yourself with liability – Your insurance policy’s liability coverage provides coverage if ever a court rules you are at fault for causing damage or personal injury in an accident. Liability insurance provides legal defense coverage which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so do not skimp.
Your vocation may affect prices – Do you have a high-stress occupation? Jobs like doctors, police officers, and stock brokers usually pay higher premiums than the average policyholder in part from intense work requirements and long work days. On the other hand, jobs like farmers, engineers and retirees generally pay rates lower than average.
Insurance losses for a Lexus RX 350 – Companies take into consideration insurance loss statistics for every vehicle as a way to help calculate a profitable premium price. Vehicles that the statistics show to have a trend towards higher claims will cost more for coverage. The data below shows the collected loss data for Lexus RX 350 vehicles.
For each coverage category, the claim probability for all vehicles, regardless of make or model, is considered to be 100. Numbers below 100 suggest a positive loss record, while numbers above 100 point to more claims or tendency to have higher losses.
| Specific Lexus 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: Insurance Institute for Highway Safety for 2013-2015 Model Years
How to find a good Texas auto insurance company
Insuring your vehicle with a highly-rated insurer can be difficult considering how many choices there are in El Paso. The rank data shown below could help you decide which companies to look at when shopping your coverage around.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Data Source: Insure.com Best Car Insurance Companies
A conclusion for your auto insurance search
You just read many tips how you can shop for Lexus RX 350 insurance online. It’s most important to understand that the more you quote El Paso car insurance, the higher the chance of saving money. You may even be surprised to find that the most savings is with a company that doesn’t do a lot of advertising. These companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate or State Farm.
When getting El Paso car insurance quotes online, do not buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed comprehensive coverage or liability limits only to find out that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
Steps to finding discount Lexus RX 350 insurance in El Paso
It takes a few minutes, but the best way to get budget Lexus RX 350 insurance in El Paso is to compare prices annually from insurers who can sell car insurance in Texas.
Step 1: Spend a few minutes and learn about how your policy works and the measures you can take to prevent rate increases. Many things that increase rates like speeding and poor credit history can be eliminated by making minor driving habit or lifestyle changes.
Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from one company like GEICO and State Farm, while independent agencies can quote rates from multiple companies.
Step 3: Compare the new quotes to your existing policy to see if a cheaper price is available in El Paso. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Provide adequate notice to your current company to cancel your current policy. Submit the completed application along with a down payment for the new coverage. As soon as you can, keep your new certificate verifying proof of insurance with your registration paperwork.
A good tip to remember is to make sure you’re comparing identical coverage information on every quote request and and to get prices from as many companies as feasibly possible. This ensures an apples-to-apples comparison and and a good selection of different prices.
To read more, feel free to browse these articles:
- Understanding Limits and Deductibles (Allstate)
- Teen Driving Statistics (GEICO)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Safe Vehicles for Teens (iihs.org)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)