Affordable Insurance for a Lexus GS 350 in Dallas

Insurance rates Lexus GS 350 in DallasThe best way to get affordable Lexus GS 350 insurance is to do a yearly price comparison from companies in Dallas.

One key aspect of rate comparisons is to make sure you enter the same physical damage deductibles and liability limits on every quote request and to quote with as many auto insurance providers as possible. This guarantees an apples-to-apples comparison and the best price selection.

It’s an obvious conclusion that insurance companies don’t want customers comparing rates. Consumers who rate shop once a year are inclined to switch auto insurance companies because there is a significant possibility of finding coverage at a more affordable price. A recent survey revealed that drivers who routinely compared rates saved approximately $3,500 over four years as compared to drivers who never shopped around.

If finding the lowest rates on car insurance in Dallas is why you’re here, learning how to find companies and compare cheaper coverage can save time and make the process easier.

Auto insurance statistics and figures

The table below covers estimates of policy rates for Lexus GS 350 models. Having a good grasp of how policy premiums are calculated is important for you to make informed decisions.

Lexus GS 350 Insurance Rates in Dallas, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $288 $572 $310 $18 $94 $1,282 $107
GS 350 AWD $318 $648 $310 $18 $94 $1,388 $116
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Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Estimates do not factor in your specific Dallas location which can decrease or increase auto insurance rates greatly.

The example below illustrates how your choice of deductibles and can change Lexus GS 350 insurance prices for different categories of driver ages. The costs are based on a single female driver, comp and collision included, and no discounts are applied.

Safe drivers pay less for auto insurance

The information below shows how traffic citations and at-fault accidents raise Lexus GS 350 premium costs for different age groups. The price estimates are based on a single female driver, full coverage, $100 deductibles, and no policy discounts are applied.

Full coverage versus liability-only in Dallas

The illustration below shows the difference between Lexus GS 350 car insurance rates with full physical damage coverage compared to only buying liability only. The rate quotes are based on no claims, a clean driving record, $1,000 deductibles, single status, and no additional discounts are factored in.

When to drop full coverage

There isn’t a steadfast formula to stop buying comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s say your Lexus GS 350 replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after paying your policy deductible. If it’s costing you more than $700 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where eliminating full coverage is not recommended. If you still owe money on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Choices You Make Can Impact Your Insurance Prices

Many factors are part of the equation when you get a price on insurance. Some are pretty understandable like an MVR report, although some other factors are not as apparent like your vehicle usage or your financial responsibility.

The factors shown below are just a few of the factors utilized by car insurance companies to help set your rate level.

Always keep your policy in force – Driving without insurance can get your license suspended and as a result your rates will increase for letting your coverage cancel without a new policy in place. In addition to paying higher premiums, getting caught without coverage will get you a license revocation or jail time.

Does your occupation cost you more? – Occupational choices like lawyers, executives, and dentists usually pay the highest average rates due to job stress and long work hours. Other jobs like professors, historians and retirees pay the least.

Urban areas may pay more – Residing in less populated areas is a positive aspect when trying to find low car insurance rates. Drivers in populated areas have to deal with more road rage incidents and a longer drive to work. Fewer drivers on the road corresponds to lower accident rates in addition to lower liability claims.

Improve your credit rating – A driver’s credit rating is likely to be a major factor in calculating your premium rate. If your credit score is not that good, you could pay less to insure your Lexus GS 350 by improving your credit score. People with very good credit scores tend to be better risks to insure as compared to drivers with bad credit.

Liability insurance is critical – The liability coverage on your policy is the coverage that protects you if ever you are determined to be liable for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense coverage starting from day one. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.

Better rates with anti-theft devices – Purchasing a vehicle with advanced anti-theft systems can save you some money. Theft prevention features like OnStar, LoJack tracking, and tamper alarms can help prevent car theft and help bring rates down.

How your age affects rates – Older insureds are proven to be safer behind the wheel, cost insurance companies less in claims, and usually have better credit. Inexperience drivers have a tendency to be inattentive and easily distracted in a vehicle so car insurance rates are higher.

The following chart assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

Insurance losses for a Lexus GS 350 – Insurers take into consideration historical loss data for every vehicle to determine a rate that will be profitable for them. Vehicles that are shown to have higher loss trends will have higher rates.

The table below outlines the actual insurance loss data for Lexus GS 350 vehicles. For each coverage category, the claim amount for all vehicles averaged together is considered to be 100. Numbers that are below 100 imply a favorable loss record, while values over 100 indicate frequent claims or tendency to have larger claims.

Lexus GS 350 Insurance Claim Statistics
Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus GS 350 4dr 2WD 160 78 190 81 107 79
Lexus GS 350 4dr 4WD 169 90 217 91 85 68

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

In Summary

We just showed you some good ideas how to compare Lexus GS 350 insurance rates in Dallas. It’s most important to understand that the more companies you get auto insurance rates for, the better your comparison will be. Consumers may even find the best rates are with some of the lesser-known companies. Some small companies can often provide lower auto insurance rates in certain areas than the large multi-state companies such as GEICO and State Farm.

Cost effective Lexus GS 350 insurance is possible on the web as well as from insurance agents, so you should compare both to have the best rate selection. Some companies may not have the ability to get quotes online and these smaller companies sell through independent insurance agents.

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