Inconceivable but true, a large majority of consumers have bought insurance from the same company for over three years, and nearly the majority have never compared quotes from other companies. Dallas consumers could save almost 70% each year by just comparing quotes, but they don’t understand how simple it is to compare rates online.
If saving the most money is your goal, then the best way to get the cheapest car insurance rates in Dallas is to do a yearly price comparison from companies that sell auto insurance in Texas.
First, get an understanding of how your policy works and the changes you can make to drop your rates. Many rating factors that result in higher rates such as multiple speeding tickets and poor credit can be improved by making minor driving habit or lifestyle changes. Later in this article we will cover additional tips to get cheaper coverage and get discounts that may be overlooked.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple companies.
Third, compare the new quotes to your existing policy to see if a cheaper rate is available in Dallas. If you find better rates, make sure coverage does not lapse between policies.
One bit of advice is that you’ll want to make sure you compare identical limits and deductibles on every quote and and to get rate quotes from as many different insurance providers as possible. Doing this ensures a level playing field and a better comparison of the market.
If you have a policy now or want to find a cheaper company, use these techniques to cut your premiums without reducing coverage. This information will familiarize you with how to compare rates easily. Shoppers just need to use the most time-saving way to find the lowest price over the internet.
How to lower your Lexus RX 350 insurance cost in Dallas, Texas
The companies shown below provide comparison quotes in Dallas, TX. If several companies are displayed, we recommend you visit as many as you can to get the cheapest price.
Get cheaper rates on Lexus RX 350 insurance in Dallas with these discounts
The price of auto insurance can be rather high, but there’s a good chance there are discounts that many people don’t even know exist. Many discounts should be triggered at the time of purchase, but a few must be specifically requested before being credited.
- 55 and Retired – Drivers that qualify as senior citizens can get a discount up to 10%.
- Sign Online – Some insurance companies will provide an incentive for buying a policy and signing up on the web.
- Passive Restraints – Factory air bags or automatic seat belts can get savings as much as 30%.
- Claim-Free Discount – Good drivers with no accidents pay much less in comparison with policyholders that have many claims.
- Government Employees – Simply working for the federal government can earn a discount up to 10% with a few insurance companies.
Don’t be shocked that most discount credits are not given to the entire policy premium. A few only apply to individual premiums such as medical payments or collision. Just because you may think all those discounts means the company will pay you, company stockholders wouldn’t be very happy.
The diagram below compares Lexus RX 350 annual premium costs with and without discounts applied to the rates. The prices are based on a female driver, no claims or violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, claim-free, marriage, multi-policy, and homeowner discounts applied.
Popular insurance companies and their possible discounts are outlined below.
- Progressive offers premium reductions for good student, online quote discount, continuous coverage, multi-policy, online signing, homeowner, and multi-vehicle.
- Farmers Insurance policyholders can earn discounts including bundle discounts, mature driver, business and professional, good student, teen driver, multi-car, and electronic funds transfer.
- Farm Bureau may include discounts for multi-policy, 55 and retired, good student, safe driver, and youthful driver.
- State Farm discounts include student away at school, passive restraint, defensive driving training, multiple policy, and safe vehicle.
- GEICO has discounts for five-year accident-free, emergency military deployment, air bags, anti-lock brakes, and good student.
- SAFECO includes discounts for homeowner, bundle discounts, safe driver, teen safe driver, and anti-lock brakes.
- Liberty Mutual has savings for new graduate, multi-car, exclusive group savings, safety features, multi-policy, and new vehicle discount.
If you need lower rates, check with each company the best way to save money. Some of the earlier mentioned discounts may not apply to policyholders everywhere.
Rates and other information
The premium information shown next highlights estimates of insurance costs for Lexus RX 350 models. Having a good understanding how rate quotes 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||$396||$908||$560||$34||$168||$2,066||$172|
|RX 350 4WD||$396||$908||$560||$34||$168||$2,066||$172|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Table data does not factor in specific location information which can alter coverage rates noticeably.
The illustration below highlights how deductible choice and can raise or lower Lexus RX 350 insurance rates for different age groups of insureds. The rates are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Full coverage or liability only
The illustration below compares Lexus RX 350 premium costs with full physical damage coverage and with liability coverage only. The information is based on a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are factored in.
When to stop buying physical damage coverage
There isn’t a steadfast formula to eliminate full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Lexus RX 350 replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying the physical damage deductible. If you are paying more than $500 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
There are a few cases where removing full coverage is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage in place.
Local Dallas insurance agents and insurance
A small number of people just prefer to sit down and talk to an agent and that is just fine! Professional agents are trained to spot inefficiencies and help in the event of a claim. One of the benefits of comparing insurance online is you can get cheaper car insurance rates but also keep your business local. Putting coverage with local agents is important particularly in Dallas.
After completing this quick form, your insurance data is emailed to companies in Dallas who can give free rate quotes to get your business. You don’t have to contact an agency as quotes are delivered to you instantly. If you want to compare prices from a specific company, you just need to search and find their rate quote page and complete a quote there.
When finding an insurance agent, you must know there are a couple different types of agents and how they are slightly different. Dallas agents can be described as either exclusive or independent agents depending on their company appointments. Either one can do a good job, but it’s important to know the difference in the companies they write for since it can affect your agent selection.
Independent Agencies or Brokers
Independent agencies are normally appointed by many insurers and that is an advantage because they can write policies with lots of companies and help determine which has the cheapest rates. If you want to switch companies, an independent agent can move your coverage and the insured can keep the same agent. If you are comparing insurance prices, you will want to get quotes from several independent agencies so that you have a good selection of quotes to compare. Most independent agents also contract with smaller mutual companies that can offer cheaper rates than bigger companies.
Listed below is a short list of independent agencies in Dallas that may be able to provide cheap rate quotes.
- Oak Lawn Insurance
5200 Lemmon Ave #105, Dallas, TX 75209, USA – TX 75209, TX USA – (214) 521-2212 – View Map
- Steven Graves Insurance
11300 N Central Expy #430 – Dallas, TX 75243 – (214) 599-0808 – View Map
- Porter-Brandenburg Agency
12160 Abrams Rd – Dallas, TX 75243 – (972) 234-5588 – View Map
These agents can only provide one company’s prices and some examples include State Farm, AAA, and Liberty Mutual. These agents are unable to give you multiple price quotes so they are skilled at selling on more than just price. Exclusive agents receive a lot of sales training on their company’s products which aids in selling service over price. Some consumers prefer to purchase coverage from exclusives primarily because of the prominence of the brand rather than low rates.
The following is a short list of exclusive agencies in Dallas willing to provide price quote information.
- Joe Pearce – State Farm Insurance Agent
9543 Losa Dr #111 – Dallas, TX 75218 – (214) 327-9315 – View Map
- Kristin Marquardt – State Farm Insurance Agent
10455 N Central Expy Ste 105 – Dallas, TX 75231 – (214) 987-2886 – View Map
- Ruth Shannon – State Farm Insurance Agent
18217 Midway Rd #134 – Dallas, TX 75287 – (972) 735-9797 – View Map
Choosing the best insurance agent is decision based upon more than just the premium amount. The answers to these questions are important, too.
- Do the coverages you’re quoting properly cover your vehicle?
- Do they carry Errors and Omissions coverage?
- By raising physical damage deductibles, how much would you save?
- If your car is in the repair shop, do you have coverage for a rental car?
- How long have they worked with personal auto insurance coverage?
Informed Consumers Can Lower Their Insurance Premiums
Many factors are part of the calculation when quoting car insurance. A few of the factors are predictable like your driving record, but others are not as apparent such as whether you are married or your commute time.
Shown below are a few of the things companies use to determine rates.
High performance vehicles cost more to insure – The type of car you are insuring makes a big difference in your premium level. The best insurance prices are usually found on low performance passenger vehicles, but your final cost has many other factors.
The following chart uses these assumptions: married male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It shows Lexus RX 350 insurance rates compared to other vehicles that have different performance rating factors.
- Better credit means lower premiums – A driver’s credit rating will be a significant factor in determining premium rates. If your credit leaves room for improvement, you could pay less to insure your Lexus RX 350 if you clean up your credit. People with excellent credit tend to be more responsible than drivers who have poor credit.
Driving citations are costly – Being a careful driver impacts your car insurance rates tremendously. Getting just one driving citation can boost insurance rates by twenty percent. Drivers who don’t get tickets get better rates than their less careful counterparts. Drivers with careless tickets like reckless driving or DUI may be required to prove financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
The chart below shows how violations and at-fault fender-benders increase Lexus RX 350 insurance prices for different ages of insureds. The premiums assume a married male driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
- Raising physical damage deductibles saves money – The deductibles state the amount of money you are willing to pay before a claim is paid by your company. Physical damage insurance, also called ‘full coverage’, protects your car from damage. A few examples of covered claims would be colliding with a stationary object, animal collisions, or theft of your vehicle. The more money you are required to pay out-of-pocket, the lower your rates will be.
- Optional features that cut prices – Driving a car with anti-theft technology or alarm system can help lower your rates. Systems that thwart thieves such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping vehicle theft.
- Fewer miles means better costs – The more miles you rack up on your Lexus in a year the more you will pay for insurance. Many insurance companies apply a rate based on how the vehicle is used. Vehicles that have low annual miles can be on a lower rate level than vehicles that have high annual mileage. Having the wrong rating on your RX 350 can result in significantly higher rates. Double check that your insurance coverage is rated on the correct driver usage, because improper ratings can cost you money.
Men pay higher prices – Over time, data shows that females tend to be a little less risky than males. That doesn’t necessarily mean that men are worse drivers. Both sexes get in at-fault accidents at about the same rate, but the males tend to have higher claims. In addition to higher claims, males also have more aggressive citations such as reckless driving.
The information below shows the difference between Lexus RX 350 yearly insurance costs for male and female drivers. The rates are based on no claims or violations, full physical damage coverage, $1,000 deductibles, single status, and no discounts are applied.
Teenage vs. older drivers – Mature drivers are viewed as being more responsible, statistically cause fewer accidents, and are generally more financially stable. Teen drivers are statistically proven to be careless and easily distracted when driving so insurance rates are higher.
The data below uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.
Lexus RX 350 statistical loss data – Insurance companies include the past claim history for a vehicle to calculate a price that will offset losses. Vehicles that historically have higher losses will have higher premium rates. The information below illustrates the collected loss data for Lexus RX 350 vehicles.
For each policy coverage, the loss probability for all vehicles as a whole is a value of 100. Values that are 100 or less mean the vehicle has better than average losses, while numbers that are greater than 100 point to more claims or tendency to have higher losses.
Insurance Loss Ratings for Lexus RX 350 Vehicles Vehicle 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 78BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three main reasons to buy insurance
Even though it’s not necessarily cheap to insure a Lexus in Dallas, maintaining insurance is a good idea for several reasons.
- The majority of states have minimum liability requirements which means the state requires a minimum amount of liability protection if you want to drive legally. 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 your vehicle has a loan, most banks will require that you have insurance to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank may insure your Lexus at a more expensive rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance preserves not only your car but also your financial assets. Insurance will pay for medical transport and hospital expenses that are the result of an accident. Liability insurance also covers legal expenses if you are sued as the result of an accident. If your Lexus gets damaged, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance more than cancel out the cost, especially with large liability claims. As of last year, the average driver in Texas overpays more than $830 a year so you should quote rates at every policy renewal to help ensure money is not being wasted.
Find cheap rates by being thorough
In this article, we presented some good ideas how to reduce Lexus RX 350 insurance rates online in Dallas. The most important thing to understand is the more rate comparisons you have, the better chance you’ll have of finding affordable Lexus RX 350 insurance quotes. You may even find the best price on auto insurance is with some of the lesser-known companies.
As you shop your coverage around, don’t be tempted to buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped uninsured motorist or liability limits to discover at claim time that it was a big error on their part. The aim is to buy the best coverage you can find at the lowest possible cost and still be able to protect your assets.
People leave their current company for a variety of reasons including being labeled a high risk driver, high rates after DUI convictions, poor customer service and even policy cancellation. It doesn’t matter why you want to switch switching companies is easier than you think.
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