How long has it been since you sat down and looked for more affordable Lexus ES 350 insurance in Colorado Springs? Drivers not familiar with comparing insurance coverage rates on the internet are likely to discover locating cheaper ES 350 insurance is very challenging.
Astonishing but true, the vast majority of insurance customers kept their policy with the same company for at least the last four years, and approximately 40% of consumers have never taken the time to shop around. Consumers in Colorado could cut their rates by about 35% a year by just shopping around, but most tend to underestimate the big savings they would realize if they switched.
Choosing the best rates in Colorado Springs is not rocket science. In essence, everyone who has to buy auto insurance stands a good chance to find better rates. Although Colorado vehicle owners must comprehend how insurance companies compete online because rates fluctuate considerably.
Best Lexus ES 350 insurance rates in Colorado
The auto insurance companies shown below are ready to provide quotes in Colorado Springs, CO. If several companies are displayed, it's a good idea that you compare several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price estimates do not factor in specific garaging location which can decrease or increase price quotes substantially.
Cost comparison with and without full coverage
The chart below illustrates the difference between Lexus ES 350 auto insurance rates with full phyical damage coverage and with liability coverage only. The rate quotes are based on no tickets, no at-fault accidents, $500 deductibles, single female driver, and no additional discounts are factored in.
Deciding between full coverage and liability only
There isn't a steadfast formula of when to stop paying for full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's assume your Lexus ES 350 replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $2,000 after the deductible is paid. If you are paying more than $200 a year for full coverage, then you might want to consider buying only liability coverage.
There are some situations where buying only liability insurance is not a good idea. If you have an outstanding loan 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 if your current one is totaled, you should not drop full coverage.
Auto insurance discounts help lower rates for Lexus ES 350 insurance in Colorado Springs
Auto insurance is not cheap nor is it fun to buy but there could be significant discounts that can drop the cost substantially. Certain discounts will be applied when you complete an application, but some may not be applied and must be inquired about prior to receiving the credit. If they aren't giving you every credit available, you are just wasting money.
- Air Bags and Passive Restraints - Factory air bags may qualify for discounts of 20 to 30 percent.
- Discount for Low Mileage - Driving fewer miles can earn cheaper premium rates.
- Bundle and Save - If you can combine your homeowners and auto policy and insure them with the same company you could earn a discount of up to 20% and get you affordable Lexus ES 350 insurance rates in Colorado Springs.
- Good Students Pay Less - Performing well in school could provide a savings of up to 20% or more. Most companies allow this discount until age 25.
- More Vehicles More Savings - Insuring more than one vehicle with one company can get a discount on all vehicles.
One last thing about discounts, most discounts do not apply to the entire policy premium. Most only apply to specific coverage prices like comp or med pay. Even though it appears all those discounts means the company will pay you, nobody gets a free ride.
Auto insurance companies that may include some of the above discounts include:
When comparing rates, check with each insurance company which credits you are entitled to. Some discounts might not be available to policyholders in Colorado Springs. To locate providers with the best Lexus ES 350 insurance discounts in Colorado Springs, click this link.
You may need advice from a local insurance agent
Some people still prefer to get advice from a local agent and that is OK! The best thing about getting free rate quotes online is that you can find the best rates and still have an agent to talk to.
To make it easy to find an agent, after completing this quick form, your coverage information is transmitted to companies in Colorado Springs who will return price quotes to get your business. There is no need to even leave your home as quotes are delivered to you. You'll get the best rates without requiring a lot of work. If for some reason you want to get a rate quote for a specific company, don't hesitate to jump over to their website and fill out the quote form the provide.
Choosing a provider requires you to look at more than just a cheap price. Any agent in Colorado Springs should be willing to answer these questions.
- If you have an accident, will your rates go up?
- Does the company have a solid financial rating?
- Are you getting all the discounts the company offers?
- Can you contact them at any time?
- Which companies do they recommend if they are an independent agency?
- How are they compensated?
- How are claims handled?
- Does the company allow you to choose your own collision repair facility?
When searching for an insurance agent, you must know there are a couple different types of agents and how they differ in how they quote coverages. Colorado Springs agents can be described as either exclusive agents or independent agents.
Exclusive Insurance Agencies
Agents of this type can only provide pricing for a single company and some examples include Allstate, Farmers Insurance or State Farm. Exclusive agents cannot provide prices from multiple companies so you might not find the best rates. They are usually well trained on what they offer and that allows them to sell at a higher price point. Consumers frequently use the same agent partially due to loyalty to the company and strong financial ratings.
The following are Colorado Springs exclusive insurance agencies who may provide you with price quotes.
- Aileen Baldwin - State Farm Insurance Agent
540 W Garden of the Gods Rd - Colorado Springs, CO 80907 - (719) 599-9044 - View Map
- American Family Insurance - Ed Reed
202 E Cheyenne Mountain Blvd k - Colorado Springs, CO 80906 - (719) 540-8400 - View Map
- John Hall - State Farm Insurance Agent
1614 Academy Blvd N b - Colorado Springs, CO 80909 - (719) 596-1414 - View Map
Independent Insurance Agents
Independent insurance agents do not work for one specific company and that is an advantage because they can write policies through lots of different companies and help determine which has the cheapest rates. To move your coverage to a new company, your agent can just switch to a different company and that require little work on your part.
If you need lower rates, we highly recommend that you get quotes from at a minimum one independent agency to have the most options to choose from. Most independent agents also contract with different regional companies which may provide better rates.
The following are independent agents in Colorado Springs who can help you get price quote information.
- CIA-Leavitt Insurance Agency
5585 Erindale Dr #107 - Colorado Springs, CO 80918 - (719) 528-1884 - View Map
- ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave - Colorado Springs, CO 80904 - (719) 473-6262 - View Map
- Southern Colorado Insurance Center
4390 Academy Blvd N - Colorado Springs, CO 80918 - (719) 329-4441 - View Map
Will just any policy work for me?
When selecting coverage, there really is not a one size fits all plan. Everyone's needs are different.
Here are some questions about coverages that can help discover if you could use an agent's help.
- Why do I only qualify for high-risk insurance?
- Does rental coverage apply when I am renting a car?
- Why is insurance for a teen driver so high in Colorado Springs?
- Do they offer discounts for home and auto coverage?
- Should I drop comprehensive coverage on older vehicles?
- Do I need more liability coverage?
If you can't answer these questions but a few of them apply, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.
What auto insurance coverages do you need?
Learning about specific coverages of auto insurance helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.
Comprehensive coverages - Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as hail damage, fire damage, a broken windshield and rock chips in glass. The maximum payout a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle's value is low consider removing comprehensive coverage.
Collision coverage - This coverage will pay to fix damage to your ES 350 resulting from a collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things such as scraping a guard rail, hitting a parking meter and crashing into a building. 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 choose a higher deductible on your ES 350 to get cheaper collision coverage.
Uninsured and underinsured coverage - This coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle's damage.
Because many people only carry the minimum required liability limits (which is 25/50/15), it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage is very important.
Coverage for liability - Liability coverage can cover damage or injury you incur to other people or property in an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/15 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged propery.
Liability can pay for things like funeral expenses, repair bills for other people's vehicles, legal defense fees, attorney fees and structural damage. How much liability should you purchase? That is up to you, but buy as high a limit as you can afford. Colorado requires drivers to carry at least 25/50/15 but drivers should carry better liability coverage.
Coverage for medical payments - Med pay and PIP coverage provide coverage for expenses for chiropractic care, prosthetic devices and nursing services. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Quote more to save more
As you go through the steps to switch your coverage, it's not a good idea to reduce coverage to reduce premium. Too many times, someone dropped liability limits or collision coverage only to regret at claim time they didn't have enough coverage. Your strategy should be to buy the best coverage you can find at the lowest possible cost but still have enough coverage for asset protection.
The cheapest Lexus ES 350 insurance in Colorado Springs is attainable from both online companies as well as from insurance agents, so you need to shop Colorado Springs auto insurance with both to have the best chance of lowering rates. Some insurance providers don't offer rate quotes online and these regional carriers sell through local independent agents.
We just covered quite a bit of information on how to shop for Lexus ES 350 insurance online. The most important thing to understand is the more times you quote, the higher the chance of saving money. You may even be surprised to find that the lowest prices come from the smaller companies.
To read more, link through to the articles below:
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Who Has Cheap Auto Insurance for a Nissan Altima in Colorado? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Drivers Under 25 in Colorado? (FAQ)
- How Much are Colorado Auto Insurance Quotes for College Graduates? (FAQ)
- Who Has Cheap Auto Insurance for Uber Drivers in Colorado? (FAQ)
- Who Has Affordable Auto Insurance Rates for High Mileage Drivers in Colorado? (FAQ)
- What Auto Insurance is Cheapest in Security-Widefield, Colorado? (FAQ)
- Who Has the Cheapest Colorado Car Insurance Rates for Felons? (FAQ)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Credit and Insurance Scores (Insurance Information Institute)