Lexus ES 350 Insurance Rate Quotes in Tampa

The most effective way to get low-cost car insurance rates is to regularly compare price quotes from insurance carriers in Tampa. Price quotes can be compared by completing these steps.

1. Try to learn about how auto insurance works and the measures you can control to keep rates low. Many policy risk factors that are responsible for high rates like high-risk driving behaviors and a lousy credit rating can be amended by making lifestyle changes or driving safer. This article gives ideas to get low prices and get additional discounts that may have been overlooked.
2. Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive and State Farm, while agents who are independent can quote prices from multiple insurance companies.
3. Compare the new rate quotes to the premium of your current policy to see if a cheaper rate is available. If you find a better price, make sure the effective date of the new policy is the same as the expiration date of the old one.
4. Provide notification to your current company of your intent to cancel your current policy and submit payment and a completed application for the new policy. As soon as you can, keep your new certificate verifying proof of insurance in an easily accessible location in your vehicle.

One thing to point out is to make sure you’re comparing identical limits and deductibles on each price quote and and to look at every company you can. This helps ensure an apples-to-apples comparison and maximum price selection.

It’s amazing but a large majority of consumers have remained with the same insurance company for at least four years, and nearly the majority have never quoted rates to find cheap coverage. Many drivers in the United States could save themselves $860 a year by just comparing rate quotes, but they don’t believe the amount of money they would save if they switch to a new company.

Choices You Make Can Impact Your Insurance Premiums

It’s important that you understand the rating factors that help calculate your insurance rates. When you know what positively or negatively determines premiums, this helps enable you to make changes that can help you get lower insurance prices.

Claim-free discounts can add up – If you tend to file frequent claims, you shouldn’t be surprised to get much higher rates or policy non-renewal. Auto insurance companies in Florida provide cheaper rates to insureds who file claims infrequently. Auto insurance is designed for claims that you cannot pay yourself.

Expect high rates for teens – Older drivers are more responsible, tend to file fewer claims, and usually have better credit. Teenage drivers have a tendency to be inattentive when behind the wheel so they pay higher insurance rates.

The following chart uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.

Lower insurance rates with theft deterrents – Driving a car with an alarm system can save you a little every year. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms all hinder auto theft and help lower rates.

Commute or pleasure use – The higher the mileage driven in a year the more you’ll pay to insure your vehicle. Many insurance companies price each vehicle’s coverage based on how the vehicle is used. Cars that have low annual miles get more affordable rates than vehicles that are driven to work every day. Having an incorrect usage rating on your ES 350 may be costing you higher rates. Double check that your insurance policy properly reflects the proper vehicle usage.

Traffic violations inflate rates – Your driving record impacts premiums far more than you think. Even one citation may cause rates to rise forty percent or more. Good drivers receive lower rates as compared to those with violations. Drivers unfortunate enough to have careless citations like reckless driving or DUI are required to submit a SR-22 form with the DMV in their state in order to drive a vehicle legally.

The information below demonstrates how traffic citations and at-fault accidents drive up Lexus ES 350 auto insurance rates for different age categories. The costs are based on a married male driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.

Do safer cars cost less to insure? – Safe vehicles tend to have lower insurance rates. These vehicles result in less severe injuries and any reduction in injury severity translates directly to fewer claims which can mean better rates for you. If the Lexus ES 350 scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.

Single drivers take more risk – Having a wife or husband can actually save you money compared to being single. Having a significant other translates into being more financially stable and insurance companies reward insureds because married drivers get in fewer accidents.

Lexus ES 350 historical loss data – Car insurance companies analyze historical claim data in order to profitably underwrite each model. Models that the data shows to have higher loss trends will cost more for specific coverages. The table below illustrates the compiled insurance loss statistics for Lexus ES 350 vehicles.

For each policy coverage, the claim amount for all vehicles, as a total average, is considered to be 100. Values that are below 100 imply a favorable loss record, while numbers shown that are more than 100 indicate a higher chance of having a claim or larger claims.

Rate information and statistics

The premium table shown next highlights different insurance policy prices for Lexus ES 350 models. Understanding how insurance policy premiums are figured can help customers make decisions on the best policy coverages.

Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Rate quotes do not factor in specific location which can revise premium rates substantially.

Auto insurance deductibles

When shopping for auto insurance, a common question is how high should the deductibles for physical damage be. The rates shown below lay out how much more rates are between high and low coverage deductibles. The first rate comparisons uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Information does not factor in your specific Tampa location which can affect coverage prices substantially.

Based on these figures, using a $250 deductible will cost you roughly $20 more each month or $240 every year than quoting the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at least 13 months between claim filings, you would probably come out ahead by selecting a higher deductible.

Should you buy full coverage?

The illustration below illustrates the difference between Lexus ES 350 insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no violations or claims, $250 deductibles, single marital status, and no other discounts are factored in.

Should you pay for full coverage?

There is no exact formula to exclude full coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s say your Lexus ES 350 replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $2,000 after you pay the deductible. If you are paying more than $200 a year for full coverage, then you may want to consider only buying liability coverage.

There are some scenarios where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.

Get cheaper rates by taking advantage of discounts

Companies don’t list every discount available very clearly, so below is a list both the well known as well as some of the hidden ways to save on auto insurance. If they aren’t giving you every credit possible, you could be getting lower rates.

• Discounts for Federal Employees – Active or former government employment can save as much as 8% but check with your company.
• Life Insurance Discount – Some insurance companies give better premium rates if you take out auto and life insurance together.
• Early Renewal Discounts – A few companies offer discounts for renewing your policy before your current coverage expires. It’s a savings of about 10%.
• Good Student Discount – Getting good grades may save you up to 25%. The discount lasts well after school through age 25.
• Drive Safe and Save – Drivers without accidents could pay up to 40% less compared to accident prone drivers.
• Use Seat Belts – Forcing all vehicle occupants to buckle up before driving could cut 10% or more off PIP or medical payments premium.
• Homeowners Savings – Owning your own home or condo can get you a discount because of the fact that having a home means you have a higher level of financial diligence.
• Passenger Safety Discount – Vehicles equipped with air bags or automatic seat belts can receive discounts up to 30%.
• Distant College Student Discount – Any of your kids who are enrolled in a college that is more than 100 miles from Tampa and don’t have a car can receive lower rates.

We need to note that many deductions do not apply to all coverage premiums. A few only apply to individual premiums such as comp or med pay. Despite the appearance that you could get a free auto insurance policy, companies don’t profit that way. But any discount will cut the amount you have to pay.

The chart below visualizes the comparison of Lexus ES 350 auto insurance costs with and without discounts applied to the rates. Data assumes a female driver, no claims or driving citations, Florida state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, marriage, multi-car, claim-free, and safe-driver discounts applied.

To see a list of insurers who offer online Lexus ES 350 insurance quotes in Florida, click here.

Cheaper car insurance rates are available

Affordable Lexus ES 350 insurance in Tampa is definitely available from both online companies and with local Tampa insurance agents, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who don’t offer price quotes online and these regional carriers provide coverage only through independent agents.

We just presented a lot of techniques to save on Lexus ES 350 insurance in Tampa. The key thing to remember is the more quotes you get, the better likelihood of getting affordable Lexus ES 350 insurance quotes. You may even be surprised to find that the lowest priced car insurance comes from a smaller regional carrier. Regional companies may have significantly lower prices on certain market segments as compared to the big name companies such as GEICO and State Farm.

Much more information about car insurance in Florida is available below:

• Teen Driver Licensing Information (iihs.org)
• Who Has Affordable Auto Insurance Quotes for a Ford Escape in Tampa? (FAQ)
• How Much are Tampa Car Insurance Rates for a Ford F-150? (FAQ)
• How Much are Auto Insurance Rates for Drivers Under 21 in Tampa? (FAQ)
• What Car Insurance is Cheapest for Inexperienced Drivers in Tampa? (FAQ)
• How Much are Tampa Auto Insurance Rates for a GMC Sierra? (FAQ)
• Auto Insurance Basics (Insurance Information Institute)
• Uninsured Motorist Statistics (Insurance Information Institute)
• Young Drivers: The High Risk Years Video (iihs.org)
• Distracted Driving (Insurance Information Institute)