If saving the most money is your goal, then the best way to get cheaper car insurance rates is to compare prices once a year from different companies who provide car insurance in Tampa. You can compare prices by following these steps.
- Step 1: Get an understanding of how insurance companies determine prices and the measures you can control to keep rates down. Many risk factors that are responsible for high rates like accidents, careless driving, and an unacceptable credit history can be eliminated by making minor changes in your lifestyle.
- Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or Allstate, while agents who are independent can quote rates from multiple companies. Compare rates now
- Step 3: Compare the new quotes to your current policy to determine if you can save on LS 460 insurance in Tampa. If you can save some money and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
The key aspect of shopping around is to use the same liability limits and deductibles on every price quote and and to analyze every company you can. This enables an apples-to-apples comparison and plenty of rates choose from.
It’s safe to assume that car insurance companies don’t want you to look for a cheaper policy. Drivers who shop around for cheaper rates are very likely to buy a new policy because they have good chances of getting low-cost coverage. Remarkably, a study showed that drivers who routinely compared rates saved on average $3,400 over four years as compared to drivers who never shopped around for lower prices.
If saving money on Lexus LS 460 insurance in Tampa is your objective, understanding how to get price quotes and compare auto insurance can save time and make the process easier.
Score discounts on Tampa car insurance
Car insurance is not an enjoyable expense, but there could be significant discounts that can help lower your rates. Most are applied when you get a quote, but a few need to be inquired about before you get the savings.
- Safe Driver Discounts – Drivers who don’t get into accidents could pay up to 40% less than less cautious drivers.
- Government Employees – Being employed by or retired from a federal job could provide a small rate reduction depending on your car insurance provider.
- Full Payment Discount – If you pay your entire premium ahead of time as opposed to paying monthly you may reduce your total bill.
- No Claims – Drivers who don’t have accidents get the best car insurance rates when compared to drivers who are more careless.
- Bundled Policy Discount – When you have multiple policies and insure them with the same company you will save over 10 percent off each policy depending on the company.
- Sign Online – Some of the larger companies will discount your bill up to fifty bucks for buying your policy digitally online.
It’s important to note that many deductions do not apply to the whole policy. Most only cut specific coverage prices like liability, collision or medical payments. So even though they make it sound like you would end up receiving a 100% discount, nobody gets a free ride.
The illustration below shows the difference between Lexus LS 460 auto insurance rates with and without discounts applied. The information is based on a male driver, no driving violations, no at-fault accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, safe-driver, and marriage discounts applied.
Companies and some of the premium reductions they offer are included below.
- 21st Century has discounts for theft prevention, teen driver, early bird, automatic seat belts, and 55 and older.
- Progressive offers discounts for continuous coverage, online signing, good student, homeowner, multi-policy, online quote discount, and multi-vehicle.
- State Farm may offer discounts for driver’s education, accident-free, anti-theft, multiple autos, Drive Safe & Save, passive restraint, and student away at school.
- Nationwide has savings for Farm Bureau membership, anti-theft, accident-free, defensive driving, good student, easy pay, and multi-policy.
- Esurance discounts include safety device, claim free, online quote, Pac-12 alumni, and online shopper.
- The Hartford may include discounts for vehicle fuel type, good student, driver training, anti-theft, bundle, defensive driver, and air bag.
Check with each insurance company how many discounts you can get. All car insurance discounts may not apply to policyholders in every state.
Finding low cost insurance quotes can be relatively painless. You just need to take a few minutes comparing rates to discover which company has affordable Tampa auto insurance quotes.
Comparing free quotes online is easy and it, replaces the need to spend time driving to insurance agencies in your area. The internet has reduced the need for local agents unless you prefer the guidance that you can only get from talking to an agent. Although you can price shop online but have a local agent actually write the policy.
The companies shown below have been selected to offer price comparisons in Tampa, FL. If you want to find the best car insurance in Tampa, we recommend you visit as many as you can in order to get a fair rate comparison.
Insurance rate breakdown
The coverage table shown below showcases detailed analysis of policy rates for Lexus LS 460 models. Being able to understand how insurance prices are figured helps drivers make smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $420 | $912 | $400 | $24 | $120 | $1,876 | $156 |
| LS 460 4-Dr Sedan | $420 | $912 | $400 | $24 | $120 | $1,876 | $156 |
| LS 460 AWD 4-Dr | $420 | $912 | $400 | $24 | $120 | $1,876 | $156 |
| LS 460 L 4-Dr Sedan | $420 | $912 | $400 | $24 | $120 | $1,876 | $156 |
| LS 460 L AWD 4-Dr | $420 | $912 | $400 | $24 | $120 | $1,876 | $156 |
| Get Your Own Custom Quote Go | |||||||
Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in Tampa location which can decrease or increase insurance rates noticeably.
Raise deductibles and save
One of the hardest decisions when shopping for car insurance is what deductibles to buy. The figures shown below lay out the premium difference between low and high insurance deductibles. The first table uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $544 | $1110 | $354 | $20 | $106 | $2,159 | $180 |
| LS 460 4-Dr Sedan | $544 | $1110 | $354 | $20 | $106 | $2,159 | $180 |
| LS 460 AWD 4-Dr | $544 | $1110 | $354 | $20 | $106 | $2,159 | $180 |
| LS 460 L 4-Dr Sedan | $544 | $1110 | $354 | $20 | $106 | $2,159 | $180 |
| LS 460 L AWD 4-Dr | $544 | $1110 | $354 | $20 | $106 | $2,159 | $180 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $302 | $586 | $354 | $20 | $106 | $1,368 | $114 |
| LS 460 4-Dr Sedan | $302 | $586 | $354 | $20 | $106 | $1,368 | $114 |
| LS 460 AWD 4-Dr | $302 | $586 | $354 | $20 | $106 | $1,368 | $114 |
| LS 460 L 4-Dr Sedan | $302 | $586 | $354 | $20 | $106 | $1,368 | $114 |
| LS 460 L AWD 4-Dr | $302 | $586 | $354 | $20 | $106 | $1,368 | $114 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in garaging location in Tampa which can raise or lower coverage prices greatly.
We can derive from the above data that using a $100 deductible will cost you roughly $66 more each month or $792 a year averaged for all LS 460 models than selecting the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 14 months between claims, you would most likely save money if you choose a higher deductible.
How to determine if raising deductibles makes sense
| Average monthly premium for $100 deductibles: | $180 |
| Average monthly premium for $1,000 deductibles (subtract): | – $114 |
| Monthly savings from raising deductible: | $66 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $66 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 14 months |
The chart below illustrates how your deductible choice and can affect Lexus LS 460 insurance costs for each different age group. The costs are based on a single male driver, full coverage, and no discounts are taken into consideration.
Responsible drivers pay cheaper car insurance rates
The information below illustrates how traffic citations and accidents drive up Lexus LS 460 auto insurance rates for each age group. The premium estimates are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
Car insurance cost for men versus women
The diagram below illustrates the difference between Lexus LS 460 insurance costs for male and female drivers. The premiums assume no claims, a clean driving record, full physical damage coverage, $250 deductibles, single marital status, and no discounts are applied to the premium.
Full coverage versus liability-only
The diagram below illustrates the comparison of Lexus LS 460 insurance prices with full physical damage coverage and with liability coverage only. The rates are based on no accidents or driving violations, $1,000 deductibles, single marital status, and no policy discounts are applied.
Should you pay for full coverage?
There is no definitive formula to stop buying physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Lexus LS 460 settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $8,000 after you pay the deductible. If you are paying more than $800 a year for full coverage, then it might be time to buy liability only.
There are some cases where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Learn How to Lower Your Insurance Premiums
Multiple criteria are used when premium rates are determined. Some are pretty understandable such as your driving history, although some other factors are more obscure like your vehicle usage or how financially stable you are. Consumers need to have an understanding of some of the things that go into determining your policy premiums. If you have some idea of what controls the rates you pay, this allows you to make good choices that may result in cheaper rates.
- Theft deterrents save – Buying a car that has a built-in theft deterrent system can save you a little every year. Systems that thwart thieves like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent vehicle theft.
- Getting married reduces risk – Walking down the aisle can get you a discount compared to being single. Having a significant other translates into being more mature than a single person and statistics prove married drivers tend to have fewer serious accidents.
- Occupation can influence premiums – Did you know your career choice can influence rates? Careers such as lawyers, social workers, and dentists have higher premium rates attributed to job stress and extremely grueling work hours. On the other hand, careers like professors, athletes and homemakers receive lower rates.
- Extra coverages you don’t use – Insurance companies have many optional add-on coverages that can waste your money if you aren’t diligent. Coverage for things like replacement cost coverage, towing coverage, and motor club memberships could be just wasting money. These coverages may sound good when talking to your agent, but now you might not need them so eliminate them to save money.
-
Lower rates come with age – Older, more experienced drivers tend to be more responsible, statistically cause fewer accidents, and get fewer tickets. Youthful drivers tend to get distracted easily when at the wheel of a vehicle and because of this, their auto insurance rates are much higher.
The next chart uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.
-
Insurance prices are higher for high performance vehicles – The performance of the car or truck you are trying to find cheaper insurance for makes a significant difference in your car insurance bill. The lowest premiums will normally be found when insuring smaller low performance passenger models, but your final cost has many other factors.
The data below uses these assumptions: single male driver age 30, full coverage with $250 deductibles, and no discounts or violations. It shows Lexus LS 460 insurance rates compared to other makes and models that have a range of performances.
-
Insurance loss data for a Lexus LS 460 – Insurers use data from past claims to calculate a price that offsets possible losses. Models that the data determines to have higher loss trends will be charged more to insure.
The next table illustrates the historical insurance loss data for Lexus LS 460 vehicles. For each insurance policy coverage type, the loss probability for all vehicles, as an average, is represented as 100. Values that are 100 or less imply a favorable loss record, while percentages above 100 indicate more frequent claims or statistically larger losses.
Insurance Loss Ratings for Lexus LS 460 Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus LS 460 4dr 2WD 155 76 203 52 Lexus LS 460 4dr 4WD 207 102 239 62 Lexus LS 460 L 4dr 2WD 199 Lexus LS 460 L 4dr 4WD 251 324 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Compare prices but still have a neighborhood Tampa auto insurance agent
A small number of people would prefer to get advice from a local agent and that is just fine! Good insurance agents can answer important questions and help in the event of a claim. The biggest benefit of comparing rates online is the fact that drivers can get cheap car insurance rates and still have an agent to talk to. And providing support for local agents is important especially in Tampa.
By using this form (opens in new window), your coverage information is sent to agents in your area who will give you quotes and help you find cheaper coverage. You won’t even need to contact any agents because prices are sent to the email address you provide. If you wish to get a price quote from a specific car insurance provider, you just need to go to their quote page and complete a quote there.
Deciding on an insurer requires you to look at more than just a cheap price. The answers to these questions are important, too.
- Can glass repairs be made at your home?
- Do they assist clients in filing claims?
- Will the quote change when the policy is issued?
- How much training do they have in personal risk management?
- Do they have 24-hour customer assistance?
Insurance is not optional
Despite the potentially high cost of Lexus LS 460 insurance, buying insurance serves several important purposes.
- Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific limits of liability protection if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Lexus, most banks will make it mandatory that you buy full coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Lexus for a much higher rate and make you pay for the expensive policy.
- Insurance preserves both your assets and your Lexus. It also can pay for medical expenses that are the result of an accident. Liability insurance also covers legal expenses if you cause an accident and are sued. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance definitely exceed the price paid, especially for larger claims. Despite what companies tell you, the average driver is overpaying more than $820 a year so smart consumers compare quotes once a year at a minimum to ensure rates are inline.
Affordable coverage is out there
Lower-priced Lexus LS 460 insurance in Tampa can be found both online in addition to local insurance agencies, so get free Tampa auto insurance quotes from both of them in order to have the best price selection to choose from. Some insurance providers don’t offer price quotes online and many times these small insurance companies work with local independent agents.
We just showed you quite a bit of information on how to find affordable Lexus LS 460 insurance in Tampa. The most important thing to understand is the more quotes you get, the better your chances of lowering your rates. Drivers may even discover the biggest savings come from a small mutual company. Some small companies may have significantly lower rates on certain market segments compared to the large companies like State Farm or Progressive.
Additional resources
- Information for Teen Drivers (GEICO)
- How Much is Car Insurance for Postal Workers in Tampa? (FAQ)
- Who Has Affordable Car Insurance Rates for a 20 Year Old Male in Tampa? (FAQ)
- How Much are Tampa Car Insurance Rates for a Ford F-150? (FAQ)
- What Car Insurance is Cheapest for a Ford Explorer in Tampa? (FAQ)
- How Much are Auto Insurance Quotes with Multiple Speeding Tickets in Tampa? (FAQ)
- Credit Impacts Car Insurance Rates (State Farm)
- Choosing an Insurance Company (Insurance Information Institute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)