How Much Does 1998 Lexus LX 470 Insurance Cost?

Having to pay for overpriced car insurance can drain your checking account and force you to make sacrifices. Comparison shopping is a great way to make sure you’re not throwing money away. Lots of auto insurance companies contend for your business, so it’s not easy to compare every company and get the definite best price available.

You need to price shop coverage once or twice a year since insurance rates change quite often. Despite the fact that you may have had the lowest price on LX 470 insurance six months ago you can probably find a better price now. Forget anything you know (or think you know) about car insurance because I’m going to let you in on the secrets to the only way to find great coverage at a great price.

Factors that might impact rates for a Lexus LX 470

Consumers need to have an understanding of the factors that go into determining your insurance rates. Knowing what impacts premium levels enables informed choices that will entitle you to big savings.

Listed below are some of the items insurance companies consider when setting prices.

  • Policy add-ons can waste money – There are a ton of extra coverages you can purchase on your insurance policy. Coverages for vanishing deductibles, better glass coverage and membership fees are examples of these. These may sound like a good investment at first, but your needs may have changed so eliminate them to save money.
  • Mature drivers pay less – Teenage drivers tend to be less responsible when behind the wheel so they pay higher insurance rates. Older insureds tend to be more responsible, tend to file fewer claims and tend to be better behind the wheel.
  • Marriage brings a discount – Getting married can actually save you money on your insurance policy. Having a spouse is viewed as being more mature and it’s proven that drivers who are married are more cautious.
  • Better credit scores mean better rates – Having a bad credit score is a important factor in your rate calculation. Drivers with good credit tend to file fewer claims and have better driving records than those with lower ratings. Therefore, if your credit rating is low, you could be paying less to insure your 1998 Lexus LX 470 by repairing your credit.

Are you getting all your discounts?

Companies that sell car insurance do not list all available discounts in an easy-to-find place, so we break down both well-publicized as well as the least known savings tricks you should be using. If they aren’t giving you every credit you qualify for, you are throwing money away.

  • Life Insurance Discount – Larger companies have better rates if you take out life insurance.
  • Senior Citizens – Mature drivers may receive reduced rates on LX 470 insurance.
  • Seat Belts Save – Requiring all passengers to wear their seat belts can save 10% or more off your PIP or medical payments premium.
  • Safety Course Discount – Successfully completing a defensive driving course could save 5% or more if you qualify.
  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on one policy may reduce the rate for each vehicle.
  • Good Student Discount – Getting good grades can earn a discount of 20% or more. The good student discount can last until age 25.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Lexus could qualify for discounted rates on garaged vehicles.
  • College Student – Any of your kids who live away from home and don’t have a car may qualify for this discount.
  • Accident Forgiveness – A handful of insurance companies will forgive one accident without raising rates as long as you don’t have any claims for a set time period.

It’s important to note that most discount credits are not given to all coverage premiums. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, it doesn’t quite work that way.

For a list of companies who offer car insurance discounts, follow this link.

Do car insurance companies bend the truth?

Drivers constantly see and hear ads for the lowest price auto insurance from companies such as State Farm, Geico and Progressive. All the companies make an identical promise that you’ll save big if you change your policy.

How do they all say the same thing?

Different companies have a certain “appetite” for the type of customer that is profitable for them. For example, a profitable customer could be a mature driver, is a homeowner, and drives less than 7,500 miles a year. A driver who matches those parameters receives the best rates and is almost guaranteed to save when switching.

Consumers who don’t measure up to these standards will be quoted a higher premium and this can result in business going elsewhere. The ads say “drivers who switch” not “people who quote” save that much. That is how companies can truthfully make those claims. This emphasizes why drivers must quote coverage with many companies. Because you never know which insurance companies will provide you with the cheapest Lexus LX 470 insurance rates.

Tailor your coverage to you

When it comes to choosing the best insurance coverage for your vehicles, there really is no “best” method to buy coverage. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions may help you determine if your situation might need an agent’s assistance.

  • Can my babysitter drive my car?
  • Am I insured when driving a different vehicle?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • What is UM/UIM insurance?
  • Where can I find DUI or SR-22 insurance?
  • Do I need rental car coverage?
  • Am I covered if I hit my neighbor’s mailbox?
  • What is an SR-22 filing?
  • Do I need replacement cost coverage?

If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can help protect your family.

Coverages available on your policy

Understanding the coverages of car insurance helps when choosing which coverages you need and the correct deductibles and limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy. These are the normal coverages found on most car insurance policies.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your Lexus LX 470.

Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Comprehensive coverage

Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as falling objects, damage from getting keyed, hitting a deer and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP provide coverage for bills such as funeral costs, ambulance fees and doctor visits. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Collision protection

Collision insurance pays for damage to your LX 470 caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things such as rolling your car, sustaining damage from a pot hole, hitting a parking meter and crashing into a ditch. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Auto liability

Liability coverage protects you from damage that occurs to a person or their property in an accident. It protects you from legal claims by others, and doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.

Liability coverage pays for things like emergency aid, court costs, medical expenses, bail bonds and legal defense fees. The amount of liability coverage you purchase is your choice, but you should buy as high a limit as you can afford.

And the best car insurance company is…

When you buy insurance online, don’t be tempted to sacrifice coverage to reduce premiums. There are a lot of situations where an accident victim reduced collision coverage only to discover later that they should have had better coverage. The ultimate goal is to get the best coverage possible for the lowest price.

Discount 1998 Lexus LX 470 insurance can be found from both online companies in addition to many insurance agents, so compare prices from both in order to have the best price selection to choose from. There are still a few companies who do not provide the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.

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