Anyone knows that car insurance companies don't want policyholders to shop around. People who shop for lower rates are highly likely to switch companies because there is a good chance of finding more affordable rates. A recent survey revealed that consumers who routinely compared quotes saved on average $3,500 over four years as compared to drivers who never compared other company's rates.
If finding the cheapest price for Lexus ES 350 insurance is your objective, then having a good understanding how to get price quotes and compare coverage rates can help you be more efficient.
The best way to find low-cost prices for Lexus ES 350 insurance is to start comparing prices regularly from different companies who sell auto insurance in El Paso.
- First, take a little time to learn about the coverage provided by your policy and the measures you can take to keep rates in check. Many factors that are responsible for high rates such as distracted driving and an unfavorable credit rating can be remedied by making minor changes in your lifestyle.
- Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO and State Farm, while independent agents can provide price quotes for a wide range of companies. View rates
- Third, compare the new quotes to your current policy premium and see if you can save money. If you find better rates and change companies, make sure coverage is continuous and does not lapse.
One tip to remember is to use identical deductibles and limits on each quote and and to get quotes from as many companies as feasibly possible. This helps ensure a fair price comparison and and a good selection of different prices.
When comparing auto insurance rates, know that getting more free quotes helps improve the odds of finding more affordable rates.
The companies shown below offer free rate quotes in El Paso, TX. If multiple companies are listed, we recommend you compare several of them to find the most affordable car insurance rates.
Coverage statistics and figures
The coverage table displayed next covers different insurance prices for Lexus ES 350 models. Knowing how policy premiums are figured can aid in making informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| ES 350 | $422 | $672 | $424 | $26 | $128 | $1,672 | $139 |
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rates do not factor in vehicle garaging location which can affect prices significantly.
The example below illustrates how your deductible choice and can impact Lexus ES 350 annual premium costs for different age groups of insureds. The prices are based on a single female driver, comp and collision included, and no discounts are applied to the premium.
Auto insurance premiums based on gender
The illustration below shows the comparison of Lexus ES 350 insurance prices for male and female drivers. The data assumes no driving violations, no at-fault accidents, full coverage, $250 deductibles, drivers are single, and no other discounts are factored in.
How much more does full coverage cost in El Paso?
The information below shows the comparison of Lexus ES 350 yearly insurance costs when comparing full coverage to liability only. The data is based on no accidents, no driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.
Are you wasting money paying for full coverage?
There is no written rule of when to eliminate comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let's say your Lexus ES 350 book value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after paying the physical damage deductible. If you are paying more than $400 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are some cases where removing full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Three reasons to not skimp on car insurance
Despite the high cost of buying insurance for a Lexus ES 350 in El Paso, paying for car insurance is most likely required but also gives you several important benefits.
- The majority of states have compulsory liability insurance requirements which means state laws require a specific level of liability coverage in order to license the vehicle. 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 Lexus has a loan, most banks will stipulate that you buy full coverage to guarantee loan repayment. If the policy lapses, the bank will be required to insure your Lexus at an extremely high rate and force you to reimburse them for the much more expensive policy.
- Car insurance preserves both your Lexus ES 350 and your personal assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay for a defense attorney if you are sued as the result of your driving. If your Lexus gets damaged, your policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your ES 350 greatly outweigh the cost, especially with large liability claims. Unknowingly, the average driver is overpaying more than $865 each year so it's recommended you shop around each time the policy renews to save money.
How Insurers Calculate Lexus ES 350 Insurance Rates
One of the most helpful ways to save on car insurance is to to have a grasp of the factors that help calculate your car insurance rates. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that could result in lower rates. Lots of factors are part of the equation when pricing auto insurance. Some are pretty understandable like an MVR report, but some are more transparent like your vehicle usage and annual miles driven.
Low coverage deductibles mean high rates - Physical damage insurance, termed comprehensive and collision coverage on your policy, insures against damage to your Lexus. Some examples of claims that would be covered would be a broken windshield, damage from fire, and rolling your vehicle. The deductibles are the amount of money you are willing to pay if you file a covered claim. The more damage repair cost the insured is willing to pay, the lower your rates will be.
Driving citations hurt - Careful drivers pay lower auto insurance prices than people who have multiple driving citations. Just one driving citation can increase the cost of insurance by twenty percent. Drivers who have gotten license-revoking violations like reckless driving or DUI might be required by their state to prove financial responsibility with their state's department of motor vehicles in order to legally drive.
The information below demonstrates how speeding tickets and fender-benders raise Lexus ES 350 car insurance costs for different age groups of insureds. The prices are based on a married female driver, full physical damage coverage, $100 deductibles, and no discounts are applied to the premium.
Poor credit can mean higher costs - A driver's credit score will be a significant factor in calculating your premium rate. So if your credit leaves room for improvement, you could pay less to insure your Lexus ES 350 by spending a little time repairing your credit. People with high credit scores tend to be better risks to insure than drivers who have poor credit scores.
Job impacts premiums - Did you know your career choice can influence rates? Careers such as military generals, business owners, and accountants tend to have higher premium rates because of high stress levels and lengthy work days. Conversely, jobs such as professors, historians and homemakers have lower than average premiums.
Lexus ES 350 claim probability - Insurers include the past claim history for a vehicle to calculate a rate that will offset any claims. Vehicles that the statistics show to have a trend towards higher claim severity or frequency will have a higher cost to insure. The table below illustrates the insurance loss data for Lexus ES 350 vehicles.
For each insurance policy coverage type, the loss probability for all vehicles averaged together is a value of 100. Percentage values below 100 indicate better than average losses, while percentage values above 100 indicate higher probability of having a loss or tendency to have higher losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lexus ES 350 4dr | 126 | 79 | 160 | 91 | 100 | 78 |
Statistics from IIHS.org for 2013-2015 Model Years
Score discounts on El Paso car insurance
Some insurance providers don't always list the entire discount list in an easy-to-find place, so the list below details a few of the more common and also the more inconspicuous discounts you could be receiving when you buy El Paso car insurance online.
- Driver Safety - Successfully completing a defensive driver course could possibly earn you a 5% discount if your company offers it.
- Discount for New Cars - Adding a new car to your policy can get you a discount because new vehicles keep occupants safer.
- Pay Early and Save - By paying your policy upfront as opposed to paying monthly you can avoid monthly service charges.
- Air Bag Discount - Options like air bags and/or automatic seat belt systems may qualify for discounts of 20 to 30 percent.
- Senior Citizens - Older drivers could receive a slight reduction on a El Paso car insurance quote.
- Multiple Cars - Buying coverage for several vehicles with one company can reduce the rates for all insured vehicles.
- Anti-lock Brakes - Vehicles with ABS and/or traction control are much safer to drive so you can save 10 percent or more.
- Seat Belts Save - Drivers who require all occupants to wear their seat belts may be able to save a few bucks off PIP or medical payments premium.
- Club Memberships - Having an affiliation with a professional or civic organization may earn a discount on your bill.
- Multi-policy Discount - When you have multiple policies and insure them both with the same insurance company you may save up to 20% off your total ES 350 insurance premium.
One last thing about discounts, many deductions do not apply to your bottom line cost. A few only apply to individual premiums such as comprehensive or collision. Just because it seems like adding up those discounts means a free policy, car insurance companies aren't that generous.
The chart below compares Lexus ES 350 insurance premiums with and without discounts being applied to the rates. The costs are based on a male driver, a clean driving record, no claims, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-policy, marriage, homeowner, and multi-car discounts applied.
Some of the larger companies that have most of these discounts may include but are not limited to:
When quoting, ask every company which discounts can lower your rates. Discounts may not be available in El Paso. For a list of companies that can offer you the previously mentioned discounts in El Paso, click this link.
Compare rate quotes but buy from a local El Paso insurance agency
Certain consumers just prefer to talk to a local agent and that can be a great decision One of the great benefits of comparing insurance prices online is you can get better rates but still work with a licensed agent.
After filling out this short form, the quote information is emailed to companies in El Paso that can give you free El Paso car insurance quotes and help you find cheaper coverage. You won't need to find an agent on your own since rate quotes are delivered instantly to you. You'll get the best rates without requiring a lot of work. If you want to get a price quote from a particular provider, you just need to jump over to their website and give them your coverage information.
Deciding on a company is decision based upon more than just the price. Ask your prospective agent these questions:
- Do they reduce claim amounts on high mileage vehicles?
- How long has their agency been open in El Paso?
- Has the agent ever had any license suspensions?
- What company holds the largest book of business for them?
- If you raise deductibles, how much can you save?
- Is the agency active in community causes in El Paso?
Auto insurance company ratings
Buying coverage from the right insurance provider can be difficult considering how many different companies there are to choose from in Texas. The company information in the next section could help you pick which car insurance providers to look at purchasing a policy from.
Top 10 El Paso Car Insurance Companies by A.M. Best Rank
- Travelers - A++
- USAA - A++
- GEICO - A++
- State Farm - A++
- Titan Insurance - A+
- Esurance - A+
- Progressive - A+
- The Hartford - A+
- Allstate - A+
- Nationwide - A+
Top 10 El Paso Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
More comparisons equals cheaper rates
We covered many tips how you can compare Lexus ES 350 insurance auto insurance rates in El Paso. It's most important to understand that the more price quotes you have, the better chance you'll have of finding the cheapest Lexus ES 350 rate quotes. Drivers may even discover the most savings is with a small local company. Smaller companies may cover specific market segments cheaper as compared to the big name companies such as State Farm, GEICO and Nationwide.
When buying insurance coverage, it's a bad idea to skimp on critical coverages to save a buck or two. In many instances, drivers have reduced uninsured motorist or liability limits and learned later that it was a big error on their part. Your aim should be to get the best coverage possible at a price you can afford while still protecting your assets.
Additional detailed information can be found by following these links:
- Distracted Driving Extends Beyond Texting (State Farm)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Credit and Insurance Scores (Insurance Information Institute)