Unbelievable but true according to a study most consumers have remained with the same auto insurance company for over three years, and 38% of customers have never compared auto insurance rates at all. Ohio insurance shoppers could pocket about 55% a year just by comparing rates, but they assume it's a waste of time to do a rate comparison.
Truthfully, the best way to find affordable quotes for Lexus GS 350 insurance in Toledo is to begin comparing prices regularly from providers that sell auto insurance in Ohio.
First, get an understanding of car insurance and the measures you can take to lower rates. Many policy risk factors that result in higher rates such as traffic citations and a less-than-favorable credit score can be eliminated by making small lifestyle or driving habit changes. This article gives information to get affordable coverage and find possible discounts that are available.
Second, obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Allstate, while independent agencies can provide price quotes from multiple companies.
Third, compare the quotes to the premium of your current policy to see if a cheaper price is available in Toledo. If you can save money, ensure there is no coverage lapse between policies.
One bit of advice is that you'll want to compare the same coverage limits and deductibles on every quote request and and to analyze as many companies as possible. This ensures a fair price comparison and the best price selection.
If you currently have auto insurance, you will most likely be able to get lower rates using the techniques presented in this article. Buying the best-priced auto insurance coverage in Toledo is simple if you know the tricks. Although Ohio consumers must know the way companies set your policy premium.
The best way to compare insurance rates from multiple companies takes advantage of the fact most of the bigger providers pay for the opportunity to give rate comparisons. The one thing you need to do is provide a small amount of information including if you lease or own, driver ages, whether or not you need a SR-22, and what you do for a living. Your rating data is submitted instantly to many different companies and they provide comparison quotes very quickly.
To get price quotes for your Lexus GS 350 now, click here and find out if lower rates are available in Toledo.
The companies in the list below provide free quotes in Toledo, OH. If multiple companies are listed, it's highly recommended you visit two to three different companies in order to get a fair rate comparison.
Save a ton on Lexus GS 350 insurance in Toledo with these discounts
Properly insuring your vehicles can get expensive, but you might be missing out on some discounts to reduce the price significantly. A few discounts will automatically apply at the time of purchase, but lesser-known reductions have to be requested specifically prior to receiving the credit.
- Professional Organizations - Belonging to qualifying clubs or civic groups could trigger savings on your next renewal.
- Mature Driver Discount - Drivers that qualify as senior citizens can possibly qualify for a small decrease in premiums.
- Anti-lock Brake Discount - Cars, trucks, and SUVs that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more on GS 350 insurance in Toledo.
- Telematics Data Discounts - Drivers that enable their insurance company to scrutinize where and when they drive by installing a telematics device such as Snapshot from Progressive or Drivewise from Allstate may get a rate reduction if they are good drivers.
- Discount for Multiple Policies - If you have multiple policies and insure them with the same company you could earn a discount of up to 20% and get you inexpensive Lexus GS 350 insurance in Toledo.
- Service Members Pay Less - Being on active deployment in the military could qualify you for better prices.
- Passive Restraints - Cars that have air bags or motorized seat belts may qualify for discounts as much as 30%.
Discounts reduce rates, but you should keep in mind that most discount credits are not given to the overall cost of the policy. Most only cut individual premiums such as liability, collision or medical payments. So even though you would think having all the discounts means you get insurance for free, companies don't profit that way. Any amount of discount should help reduce the cost of your policy.
The illustration below shows the comparison of Lexus GS 350 insurance premiums with and without discounts applied to the policy premium. The price estimates are based on a male driver, no claims, a clean driving record, Ohio state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, homeowner, claim-free, multi-policy, and marriage discounts applied.
If you would like to see a list of insurers that offer the discounts shown above in Ohio, click this link.
Lexus GS 350 insurance rate analysis
The rate information displayed below covers a range of policy rates for Lexus GS 350 models. Knowing how insurance rates are formulated can assist in making decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|GS 350 AWD||$232||$530||$202||$12||$60||$1,036||$86|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Prices do not factor in vehicle garaging location which can decrease or increase auto insurance rates noticeably.
Cautious Toledo drivers save money
The example below illustrates how traffic citations and accident claims can affect Lexus GS 350 insurance rates for each age group. The information is based on a married male driver, comp and collision included, $250 deductibles, and no discounts are factored in.
Insurance rates by gender and age
The information below illustrates the comparison of Lexus GS 350 premium costs for male and female drivers. Data assumes no driving violations, no at-fault accidents, comprehensive and collision coverage, $250 deductibles, single status, and no discounts are applied to the premium.
Lexus GS 350 liability rates compared to full coverage
The chart below shows the comparison of Lexus GS 350 insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no claims or driving citations, $250 deductibles, single status, and no discounts are applied to the premium.
Are you wasting money on full coverage?
There is no clear-cut rule for eliminating physical damage insurance, but there is a guideline you can use. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let's pretend your Lexus GS 350 book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $4,000 after paying the physical damage deductible. If premium cost is more than $400 annually to have full coverage, then you might want to consider buying only liability coverage.
There are some cases where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not buy liability only.
Informed Drivers Save Every Year
Many things are part of the equation when premium rates are determined. Most are fairly basic like an MVR report, although others are more obscure such as whether you are married or how safe your car is. It's important that you understand some of the elements that aid in calculating your insurance rates. When you know what positively or negatively determines premiums, this helps enable you to make changes that could help you find big savings.
Policy add-ons can waste money - There are quite a few extra add-on coverages that sound like a good idea at the time on your GS 350 policy. Insurance for vanishing deductibles, high-cost glass coverage, and extra life insurance coverage could be just wasting money. These may sound like a good investment when deciding what coverages you need, but your needs may have changed so consider taking them off your policy.
Urban areas may pay more - Being located in less populated areas can be a good thing when buying insurance. Drivers who live in large cities have more traffic problems and more time behind the wheel. Less people translates into fewer accident claims in addition to lower liability claims.
Pay less with a high crash test rating - Vehicles that have high safety ratings tend to have better insurance rates. Vehicles built for safety reduce the chance of injuries and better occupant protection means lower claim amounts and cheaper rates on your policy. If the Lexus GS 350 has at least four stars on Safercar.gov or an "acceptable" rating on iihs.org you may be receiving a better rate.
Maintain insurance coverage - Allowing your insurance policy to lapse is a quick way to drive up your policy premiums. And not only will insurance be more expensive, failure to provide proof of insurance could result in fines or a revoked license. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the Ohio motor vehicle department to get your license reinstated.
Pay more of a claim out-of-pocket - Physical damage deductibles are how much you are willing to pay out-of-pocket in the event of a claim. Coverage for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your car. Some examples of covered claims could be colliding with a stationary object, hail damage, and having a roll-over accident. The more money you're willing to pay, the less your insurance will be.
Lexus GS 350 insurance claim data - Insurers include the past claim trends for vehicles to determine a price that will be profitable for them. Vehicles that have a trend towards higher claim severity or frequency will have higher rates. The next table shows the insurance loss data used by companies for Lexus GS 350 vehicles.
For each coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Numbers that are below 100 indicate better than average losses, while percentages above 100 show a trend for more claims or larger claims.
|Vehicle Make and 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|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years