Compare 2008 Lexus GX 470 Insurance Quotes

Searching for better insurance rates for your Lexus GX 470? Purchasing cheap insurance online may be rather challenging for drivers not familiar with shopping for insurance on the internet. With dozens of online companies, how are we expected to possibly compare every possible option in order to find the cheapest rates?

You may qualify for discounts

Companies that sell car insurance don’t always list all possible discounts very well, so the following is a list of a few of the more well known and the more hidden discounts that you can inquire about if you buy car insurance online.

  • Student in College – Any of your kids who live away from home at college and do not have access to a covered vehicle could qualify for this discount.
  • Senior Discount – Drivers that qualify as senior citizens may qualify for a small discount on rates for GX 470 coverage.
  • No Claim Discounts – Drivers who don’t have accidents pay much less as compared to policyholders that have many claims.
  • Use Seat Belts – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
  • Paperwork-free – A few larger online companies give back up to $50 for signing up on your computer.
  • Service Members Pay Less – Being on active deployment in the military could mean lower premium rates.
  • Low Mileage Discounts – Keeping the miles down on your Lexus could earn lower prices on the low mileage vehicles.
  • Save with a New Car – Insuring a new car can be considerably cheaper because newer models have to meet stringent safety requirements.
  • First Accident Forgiveness – Not really a discount, but companies like Libery Mutual, Geico and Allstate will turn a blind eye to one accident before they charge you more for coverage if you are claim-free for a specific time period.

Don’t be shocked that many deductions do not apply to all coverage premiums. A few only apply to specific coverage prices like collision or personal injury protection. So even though they make it sound like you would end up receiving a 100% discount, companies don’t profit that way. Any qualifying discounts will definitely lower the premium cost.

A few of the larger companies and their possible discounts include:

  • Mercury Insurance offers discounts for good student, ease of repair, low natural disaster claims, good driver, age of vehicle, and annual mileage.
  • Farmers Insurance offers discounts including early shopping, distant student, homeowner, alternative fuel, mature driver, and multi-car.
  • Farm Bureau includes discounts for renewal discount, multi-vehicle, 55 and retired, good student, youthful driver, multi-policy, and driver training.
  • State Farm may offer discounts for anti-theft, defensive driving training, good driver, student away at school, driver’s education, safe vehicle, and multiple autos.
  • Allstate discounts include premier plus, defensive driver, senior citizen, new car, safe driver, eSmart discount, and resident student.
  • Geico has savings for military active duty, five-year accident-free, driver training, federal employee, good student, air bags, and emergency military deployment.

If you need inexpensive car insurance quotes, ask all the companies which discounts they offer. Some credits may not be available in every state. If you would like to see a list of insurance companies who offer discounts, click this link.

There’s no such thing as the perfect auto insurance policy

When it comes to buying proper insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

These are some specific questions might point out if your situation would benefit from professional advice.

  • Is my babysitter covered when using my vehicle?
  • Is my Lexus GX 470 covered if I use it for business?
  • Which is better, split liability limits or combined limits?
  • Does my insurance cover a custom paint job?
  • Should I buy only the required minimum liability coverage?
  • When would I need additional glass coverage?
  • When should I remove comp and collision on my 2008 Lexus GX 470?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Why am I required to get a high-risk car insurance policy?

If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Why you might not save $435 a year

Well-known auto insurance companies like Progressive, Allstate and Geico continually stream ads in print and on television. All the companies advertise the message of big savings just by switching your coverage. How does every company charge you a lower premium? This is the way they can do it.

All companies give the best rates for the type of customer that will not have excessive claims. A good example of this type of insured should be between the ages of 40 and 55, insures multiple vehicles, and has a high credit rating. Any driver who fits that profile receives the best rates and will save a lot of money.

Potential insureds who don’t measure up to these criteria will get higher rates which results in the customer buying from someone else. If you listen closely, the ads state “drivers that switch” not “all people who quote” save that much when switching. That is how insurance companies can advertise the way they do.

Because of the profiling, you should do a quote comparison often. Because you never know with any certainty which company will have the lowest prices for your situation.

Parts of your insurance policy

Having a good grasp of your policy can be of help when determining the best coverages for your vehicles. Policy terminology can be impossible to understand and coverage can change by endorsement.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance kick in for expenses for things like pain medications, ambulance fees, prosthetic devices and EMT expenses. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Collision coverages – Collision coverage pays for damage to your GX 470 resulting from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as crashing into a building, backing into a parked car, hitting a parking meter, sideswiping another vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. You can also bump up the deductible to bring the cost down.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Lexus GX 470.

Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Usually these coverages are identical to your policy’s liability coverage.

Comprehensive auto coverage – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like rock chips in glass, theft, a broken windshield, a tree branch falling on your vehicle and hitting a bird. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Coverage for liability – Liability coverage will cover damage that occurs to other’s property or people. It protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Occasionally you may see a combined single limit or CSL that pays claims from the same limit without having the split limit caps.

Liability insurance covers things such as loss of income, bail bonds, pain and suffering and medical services. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

One last thing about your coverage

Consumers change insurance companies for a number of reasons such as unfair underwriting practices, delays in paying claims, policy non-renewal or policy cancellation. No matter why you want to switch, finding the right car insurance provider can be easy and end up saving you some money.

As you shop your coverage around, it’s not a good idea to skimp on coverage in order to save money. In many cases, an insured dropped collision coverage and discovered at claim time that it was a big mistake. The goal is to purchase a proper amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.

We just presented many ideas to compare 2008 Lexus GX 470 insurance premium rates online. It’s most important to understand that the more companies you get prices for, the better your chances of lowering your prices. You may be surprised to find that the most savings is with a small local company.

Additional information can be found at these links: