Are you doing reasearch to find the cheapest Lexus RX 350 insurance in Denver? Trying to find cheap Lexus RX 350 insurance in Denver may be quite difficult for people not familiar with online rate comparisons. With such a big selection of agents and companies competing online, it can turn into a ton of work to find cheaper premium rates on Lexus RX 350 insurance.
Amazingly, a recent NerdWallet.com study showed that the vast majority of auto insurance customers in Colorado have remained with the same auto insurance company for at least four years, and about 40% of consumers have never even shopped around for lower-cost coverage. American insurance shoppers can cut their rates by up to 46.5% a year just by comparing rates, but they mistakenly think it's difficult to compare rates and save money.
It's a good idea to take a look at other company's rates as often as possible because auto insurance prices are constantly changing. Just because you had the best rates on Lexus RX 350 insurance in Denver on your last policy you can probably find a lower rate today. Forget anything you know (or think you know) about auto insurance because you're about to find out the things you must know in order to eliminate unnecessary coverages and save money on Lexus RX 350 insurance in Denver.
Cheaper rates on Lexus RX 350 insurance in Denver with these discounts
Auto insurance is not cheap nor is it fun to buy but you might already qualify for some discounts to help offset the cost. Some trigger automatically when you complete an application, but a few must be specially asked for before being credited.
- Own a Home - Just being a homeowner may trigger a policy discount on auto insurance because maintaining a house shows financial diligence.
- Safety Course Discount - Taking a defensive driving course is a good idea and can lower rates and easily recoup the cost of the course.
- Military Deployment Discount - Being on active duty in the military could qualify you for better rates.
- Telematics Discount - Insureds who allow their company to analyze driving habits by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates if they are good drivers.
- Multi-policy Discount - If you combine your auto and home policies and insure them both with the same insurance company you could earn a discount of over 10 percent off each policy depending on the company.
- Responsible Driver Discounts - Safe drivers may receive a discount up to 45% compared to rates paid by drivers with frequent claims.
- Driver Education Discount - Make teen driver coverage more affordable by requiring them to enroll and complete driver's education if it's offered in school.
- Pay Now and Pay Less - If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
- 55 and Retired - Drivers that qualify as senior citizens may be able to get a small decrease in premiums.
A little note about advertised discounts, most discounts do not apply to all coverage premiums. Most cut specific coverage prices like comp or med pay. So when it seems like having all the discounts means you get insurance for free, it doesn't quite work that way.
The best auto insurance companies and a summarized list of policyholder discounts are shown below.
- Progressive offers premium reductions for online quote discount, good student, homeowner, multi-vehicle, and continuous coverage.
- MetLife may include discounts for multi-policy, defensive driver, good student, claim-free, good driver, and accident-free.
- Mercury Insurance may have discounts that include good student, multi-policy, low natural disaster claims, type of vehicle, ease of repair, location of vehicle, and accident-free.
- Nationwide has discounts for Farm Bureau membership, business or organization, good student, defensive driving, easy pay, anti-theft, and multi-policy.
- GEICO has savings for good student, multi-policy, multi-vehicle, federal employee, and military active duty.
- AAA may offer discounts for multi-policy, good driver, pay-in-full, education and occupation, and anti-theft.
Before purchasing a policy, check with all companies you are considering which discounts you qualify for. A few discounts might not apply in Denver.
Lexus RX 350 insurance quotes comparison
All the larger insurance companies such as State Farm and Allstate allow you to get coverage price quotes on the web. Obtaining pricing for Lexus RX 350 insurance in Denver can be done by anyone because it's just a matter of typing in your coverage preferences into the quote form. When the form is submitted, the system pulls your credit score and driving record and gives you a price quote based on the information you submitted.
Getting online rates for Lexus RX 350 insurance in Denver simplifies rate comparisons, and it's also necessary to have as many quotes as possible in order to get the lowest payment.
To quickly find out if lower rates are available, compare rates now from the companies shown below. To compare your current rates, we recommend you replicate the coverage information just like they are on your policy. This makes sure you will get rate comparison quotes for similar coverage.
The companies shown below are ready to provide free rate quotes in Denver, CO. If multiple providers are shown, it's highly recommended you visit several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RX 350 2WD||$266||$528||$382||$22||$114||$1,312||$109|
|RX 350 4WD||$278||$500||$396||$24||$118||$1,316||$110|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Information does not factor in specific garaging location which can impact premiums significantly.
How high should deductibles be?
The example below demonstrates how deductible levels and can affect Lexus RX 350 insurance prices for different categories of driver ages. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Violations and accidents raise rates
The diagram below demonstrates how citations and accident claims drive up Lexus RX 350 premium costs for different age categories. Data assumes a single male driver, full coverage, $500 deductibles, and no discounts are factored in.
Does full coverage make sense?
The example below illustrates the difference between Lexus RX 350 auto insurance rates with full physical damage coverage and with liability coverage only. The premiums are based on no violations or claims, $250 deductibles, single male driver, and no policy discounts are applied.
When to buy liability coverage only
There is no specific rule that is best for determining when to drop full coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let's say your Lexus RX 350 claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after you pay the deductible. If it's costing you more than $300 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are a few situations where only buying liability is not advised. If you haven't satisfied your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Insurance Cost Influencing Factors
When buying car insurance it's important to understand some of the things that help determine the level of your policy premiums. If you know what influences your rates, this enables you to make decisions that may result in lower premium levels.
Marriage discount - Your spouse can get you a discount on your policy. Marriage is viewed as being more responsible and statistics prove drivers who are married are more cautious.
Do you qualify for a multi-policy discount? - Lots of companies afford better rates to policyholders who carry more than one policy. It's known as a multi-policy discount. Even if you qualify for this discount already, consumers should still check prices from other companies to guarantee you are still saving the most.There is a good possibility that you can save money by insuring with multiple companies.
Drive lots and pay more - The more you drive your Lexus in a year the higher your rates will be. Almost all companies price each vehicle's coverage based upon how the vehicle is primarily used. Cars and trucks left parked in the garage receive better premium rates than vehicles that have high annual mileage. Ask your agent if your car insurance policy states annual mileage. Having the wrong rating on your RX 350 can result in significantly higher rates.
Job stress can make you pay more - Did you know your car insurance rates can be affected by your occupation? Occupations such as lawyers, business owners and dentists are shown to have higher rates than average because of intense work requirements and extremely grueling work hours. Conversely, occupations such as farmers, historians and homemakers pay the least.
Lexus RX 350 historical loss data - Insurers take into consideration insurance loss statistics for every vehicle to calculate a rate that will offset losses. Models that are shown to have a higher amount or frequency of claims will have a higher cost to insure. The table below shows the insurance loss data for Lexus RX 350 vehicles.
For each type of coverage, the statistical loss for all vehicles, without regard to make or model, is set at 100. Numbers shown that are under 100 indicate better than average losses, while values over 100 indicate more frequent claims or an increased chance of larger losses than average.
Lexus RX 350 Insurance Claim Statistics
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus RX 350 4dr 2WD||111||96||91||72||97||88|
|Lexus RX 350 4dr 4WD||122||99||112||83||75||78|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Compare rates but work with a local Denver insurance agency
Some people would prefer to get advice from a local agent and that is just fine! An additional benefit of comparing insurance prices online is the fact that you can find better rates and also buy local.
To make it easy to find an agent, after completing this form (opens in new window), your insurance coverage information is transmitted to local insurance agents in Denver that can provide free Denver auto insurance quotes for your auto insurance coverage. There is no reason to contact an agency as quotes are delivered immediately to you. It's the lowest rates and work with a local agent. If you want to get a price quote from a specific auto insurance provider, just visit that company's website and submit a quote form there.
Picking the best insurance company requires more thought than just a cheap quote. You should also get answers to these questions.
- Are there any extra charges for paying monthly?
- Will the company cover a rental car if your car is getting fixed?
- What will you get paid if your car is a total loss? How is that amount determined?
- Do the coverages you're quoting properly cover your vehicle?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do they make recommendations based only on price?
Denver auto insurance agents are either independent or exclusive
When looking for a local insurance agency, it can be helpful to understand the different agency structures that you can choose from. Auto insurance policy providers can be described as either exclusive agents or independent agents.
Exclusive Insurance Agencies
These type of agents can only provide one company's prices such as Farmers Insurance, Allstate, or State Farm. Exclusive agents cannot provide other company's prices so they really need to provide good service. Exclusive insurance agents are well schooled on their company's products which aids in selling service over price. Consumers sometimes use the same exclusive agent partially due to the brand legacy rather than low rates.
Shown below is a list of exclusive agencies in Denver willing to provide price quote information.
- Don Middleton - State Farm Insurance Agent
1900 Wazee St #1538 - Denver, CO 80202 - (303) 595-5500 - View Map
- Beth Bales - State Farm Insurance Agent
3650 S Yosemite St #408 - Denver, CO 80237 - (303) 993-2727 - View Map
- Allstate Insurance: K.D. Sakraida
1932 W 33rd Ave - Denver, CO 80211 - (303) 433-2094 - View Map
Independent Auto Insurance Agents
Agents that elect to be independent do not work for one specific company and that allows them to write policies through many different auto insurance companies and potentially find a lower price. If they find a cheaper price, they simply move the coverage in-house and you don't have to switch agencies.
If you need cheaper auto insurance rates, we recommend you include price quotes from at least one independent agent for the best price selection. Most also write with lesser-known insurance companies that may have much lower rates than larger companies.
Below are independent insurance agencies in Denver willing to provide comparison quotes.
- Sorhage and James Insurance
1660 S Albion St # 1005 - Denver, CO 80222 - (303) 759-4551 - View Map
- Premier Group Insurance
1777 W 38th Ave #102 - Denver, CO 80211 - (303) 477-0505 - View Map
- Mile High Insurance Agency
4704 Harlan St #360 - Denver, CO 80212 - (303) 237-5445 - View Map
Why you need insurance for your RX 350
Even though it can be expensive, insurance is required in Colorado but also provides important benefits.
- Most states have mandatory insurance requirements which means you are required to buy specific limits of liability if you drive a vehicle. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Lexus RX 350 has a loan, it's most likely the lender will require that you have comprehensive coverage to protect their interest in the vehicle. If you let the policy lapse, the bank may insure your Lexus at a more expensive rate and make you pay much more than you were paying before.
- Insurance safeguards not only your Lexus but also your financial assets. Insurance will also pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay attorney fees if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of buying auto insurance more than offset the price you pay, especially for larger claims. As of last year, the average driver in Colorado overpays more than $825 a year so it's important to compare rates once a year at a minimum to be sure current rates are still competitive.
Shop smart and save
Drivers who switch companies do it for a variety of reasons including extreme rates for teen drivers, policy non-renewal, high rates after DUI convictions or delays in paying claims. Whatever your reason, finding a new company is less work than it seems.
We've covered a lot of ways to shop for Lexus RX 350 insurance online. It's most important to understand that the more price quotes you have, the higher your chance of finding inexpensive Denver auto insurance quotes. You may even find the lowest rates come from a company that doesn't do a lot of advertising.
As you shop your coverage around, do not sacrifice coverage to reduce premiums. Too many times, someone sacrificed full coverage only to regret that it was a big mistake. The proper strategy is to buy enough coverage at the best price, but do not sacrifice coverage to save money.
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