2003 Lexus LX 470 Insurance Rates – 8 Ways to Save

Nobody I know looks forward to buying insurance coverage, especially when the cost is way too high. Big-name insurance companies like Allstate and Progressive constantly bombard you with ads and it is difficult to see past the corporate glitz and find the best price available.

Get lower rates on Lexus LX 470 insurance

Companies that sell car insurance don’t necessarily list every available discount very well, so the following is a list of some of the best known as well as the least known insurance savings. If you don’t get every credit you deserve, you are throwing money away.

  • New Vehicle Savings – Buying coverage on a new vehicle can cost up to 25% less due to better safety requirements for new cars.
  • Military Rewards – Being on active duty in the military may qualify for rate reductions.
  • Discount for Life Insurance – Companies who offer life insurance give a break if you buy life insurance.
  • Accident Free – Drivers who don’t have accidents can save substantially when compared to accident-prone drivers.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and qualify for as much as a 10% discount.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can get savings of 20% or more.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
  • Accident Waiver – Some insurance companies will allow you to have one accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.

As a disclaimer on discounts, most discounts do not apply to the entire policy premium. Some only apply to individual premiums such as collision or personal injury protection. So even though they make it sound like you could get a free insurance policy, you won’t be that lucky.

To see a list of insurance companies offering insurance discounts, click this link.

The most recommended method to get policy rate comparisons is to know most larger insurance companies pay for the opportunity to quote your coverage. To get started, all you need to do is provide a small amount of information like types of safety features, your job, whether you have decent credit, and if you are currently licensed. Your details is submitted instantly to many of the top insurers and they return cost estimate very quickly.

Tailor your coverage to you

When choosing coverage, there isn’t really a best way to insure your cars. Every insured’s situation is different so this has to be addressed. For instance, these questions may help you determine whether you could use an agent’s help.

  • Should I have a commercial auto policy?
  • Are rock chip repairs covered?
  • Does my medical payments coverage pay my health insurance deductible?
  • How do I file an SR-22 for a DUI in my state?
  • Is my custom paint covered by insurance?
  • Does medical payments coverage apply to all occupants?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance coverage companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Information about specific coverages

Learning about specific coverages of a car insurance policy aids in choosing the best coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Below you’ll find the usual coverages found on the average car insurance policy.

Collision coverage – Collision coverage covers damage to your LX 470 resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for claims such as hitting a mailbox, scraping a guard rail and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance pay for expenses for rehabilitation expenses, funeral costs, dental work and doctor visits. They are often used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Liability insurance – Liability insurance protects you from injuries or damage you cause to other people or property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and property damage coverage for $25,000.

Liability insurance covers claims such as repair bills for other people’s vehicles, court costs and attorney fees. How much liability should you purchase? That is up to you, but consider buying higher limits if possible.

Comprehensive coverage – Comprehensive insurance pays for damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as a tree branch falling on your vehicle, hail damage, damage from getting keyed and hitting a bird. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your 2003 Lexus LX 470.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Make a quick buck

Lower-priced 2003 Lexus LX 470 insurance is definitely available both online and with local insurance agents, and you need to price shop both in order to have the best chance of saving money. A few companies do not offer the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.

As you restructure your insurance plan, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, an insured dropped physical damage coverage only to regret that they should have had better coverage. Your goal should be to buy the best coverage you can find at the best price, not the least amount of coverage.

You just read some good ideas how you can shop for insurance online. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. You may be surprised to find that the lowest rates come from the least-expected company. Smaller companies may only write in your state and offer lower rates than the large multi-state companies such as Allstate or State Farm.

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