Compare Lexus ES 350 Insurance Rate Quotes in Las Vegas

The most effective way to save on auto insurance rates is to compare prices once a year from providers in Las Vegas.

First, gain an understanding of the coverage provided by your policy and the measures you can control to prevent rate increases. Many rating criteria that cause high rates such as traffic citations, accidents, and a negative credit history can be remedied by making minor driving habit or lifestyle changes. This article gives the details to help find cheaper rates and get bigger discounts that may have been overlooked.

Second, compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple insurance companies.

Third, compare the price quotes to your existing policy to see if cheaper ES 350 coverage is available in Las Vegas. If you can save money and decide to switch, make sure there is no lapse in coverage.

Fourth, provide notification to your current agent or company of your intention to cancel your current coverage. Submit the application along with any required down payment to your new company or agent. Once coverage is bound, place the new certificate verifying coverage with the vehicle registration.

One tip to remember is to make sure you enter the same amount of coverage on each quote request and to quote with as many different insurance providers as possible. This provides an accurate price comparison and and a good selection of different prices.

Unthinkable but true, the vast majority of drivers kept their coverage with the same insurance company for well over three years, and almost 40% of drivers have never compared rates to find lower-cost insurance. Nevada insurance shoppers can save hundreds of dollars each year, but most undervalue the large savings they would see if they just switched companies.

Companies offering Lexus ES 350 insurance in Nevada

The companies shown below have been selected to offer price quotes in Las Vegas, NV. If your goal is to find the best cheap auto insurance in Nevada, we recommend you compare several of them to get the most competitive price.

Rates and data analysis

The premium table shown next outlines different insurance coverage prices for Lexus ES 350 models. Having a good understanding how auto insurance premiums are established can be useful when making decisions on the best policy coverages.

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Estimates do not factor in the specific area where the vehicle is garaged which can increase or decrease prices greatly.

An analysis of deductible level

A question often asked by Las Vegas drivers is what deductibles to buy. The comparisons below can help show the differences in price when you choose different physical damage deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price chart uses a $500 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Estimates do not factor in your specific Las Vegas location which can increase or decrease premium rates noticeably.

We can derive from the above data that using a $100 deductible could cost the average driver approximately $27 more each month or $324 for a full year than opting for the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average at a minimum 15 months between claim filings, you would save money if you opt for a higher deductible.

How accidents and tickets impact rates

The diagram below shows how speeding tickets and at-fault fender-benders impact Lexus ES 350 insurance costs for each different age category. The premiums are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

Rate difference between full and liability-only coverage

The diagram below compares Lexus ES 350 auto insurance costs with full physical damage coverage and with liability coverage only. The costs are based on no claims, a clean driving record, $1,000 deductibles, single status, and no policy discounts are applied.

Should you pay for full coverage or liability only?

There is no definitive rule of when to phase out comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let’s say your Lexus ES 350 replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $2,000 after the policy deductible has been paid. If it’s costing you more than $200 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few situations where eliminating full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.

Insurance Cost Influencing Factors

The best way to find cheaper car insurance is to take a look at some of the things that help determine the level of your policy premiums. If you know what determines premiums, this helps enable you to make changes that could help you find lower rates.

Optional features that cut car insurance rates – Owning a car that has a built-in theft deterrent system can save you a little every year. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent car theft and help bring rates down.

Your gender affects costs – Over the last 30 years, statistics show women are more cautious behind the wheel. Now that doesn’t mean males are worse at driving than females. Males and females are responsible for accidents at about the same rate, but the male of the species have costlier accidents. In addition to higher claims, males also receive more major tickets like DUI and reckless driving. Male drivers age 16 to 19 are most likely to cause an accident so they pay the highest premiums.

The example below illustrates the difference between Lexus ES 350 insurance premiums for male and female drivers. The rates are based on no accidents or driving violations, full coverage, $100 deductibles, drivers are single, and no other discounts are factored in.

Age of drivers – Drivers with little experience have been known to be inattentive and easily distracted when driving with friends therefore car insurance rates are much higher. More mature drivers are more responsible, cause fewer claims and accidents, and get fewer tickets.

The chart below uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.

Single vs. married – Having a significant other helps lower the price on your car insurance bill. Having a spouse generally demonstrates drivers are more mature than a single person and insurance companies like that drivers who are married file infrequent claims.

Insurance losses for a Lexus ES 350 – Insurance companies include the past claim trends for vehicles to calculate a price that will offset any claims. Models that the statistics show to have increased losses will have higher rates for specific coverages. The table below shows the actual insurance loss data for Lexus ES 350 vehicles.

For each insurance policy coverage type, the claim amount for all vehicles as a whole is a value of 100. Values under 100 suggest a better than average loss history, while numbers above 100 show a trend for more claims or an increased likelihood of larger losses.

Las Vegas insurance discounts for a Lexus ES 350

Companies don’t always list every possible discount in an easy-to-find place, so we researched both the well known as well as some of the hidden credits that you can use to lower your rates.

• One Accident Forgiven – Not a discount per se, but companies like Progressive, State Farm and GEICO will forgive one accident without getting socked with a rate hike so long as you are claim-free prior to being involved in the accident.
• Air Bags and Passive Restraints – Vehicles with factory air bags and/or automatic seat belt systems can get savings of 25 to 30%.
• Las Vegas Homeowners Pay Less – Just being a homeowner may trigger a policy discount on auto insurance because of the fact that having a home requires a higher level of personal finance.
• Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease depending on your company.
• Seat Belt Usage – Drivers who require all vehicle occupants to buckle up before driving could cut 10% or more off the medical payments premium.
• Policy Bundle Discount – If you combine your auto and homeowners policies and place coverage with the same company you will save up to 20% and get you cheap ES 350 insurance.
• College Student – Youth drivers who are attending college and don’t have a car may qualify for this discount.

You should keep in mind that most discounts do not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears it’s possible to get free car insurance, it just doesn’t work that way.

The diagram below visualizes the comparison of Lexus ES 350 insurance prices with and without policy discounts. Data assumes a male driver, no accidents, no driving violations, Nevada state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, homeowner, multi-car, and marriage discounts applied.

If you would like to see a list of providers who offer auto insurance discounts in Las Vegas, click here.

Getting quotes from local Las Vegas car insurance agents

Certain consumers would prefer to have an agent’s advice and that is recommended in a lot of cases One of the benefits of getting free rate quotes online is that drivers can save money and get cheaper premium rates but also keep your business local.

Once you complete this form (opens in new window), your insurance data is emailed to insurance agents in Las Vegas who can give free rate quotes and help you find cheaper coverage. There is no reason to leave your house because quoted prices will be sent immediately to your email address. You can get cheaper insurance rates without the usual hassles of price shopping. If for some reason you want to compare rates from a specific insurance company, you would need to go to their quote page to submit a rate quote request.

Choosing a insurance company is decision based upon more than just the price. Here are some questions to ask:

• Are claim adjusters local or do you have to take your car somewhere else?
• How many companies do they write for?
• Are they giving you every discount you deserve?
• Is the agent properly licensed in Nevada?
• Do the companies they represent have a solid financial rating?
• Can you contact them at any time?

Las Vegas car insurance agents are either independent or exclusive

When finding an insurance agent, it can be helpful to understand the different agency structures and how they can quote your rates. Insurance agencies are categorized either exclusive or independent.

Exclusive Agencies

Agents in the exclusive channel can only provide one company’s prices and some examples include State Farm, Allstate, or Farmers Insurance. They usually cannot place coverage with different providers so if the price isn’t competitive there isn’t much they can do. They are very knowledgeable in insurance sales which aids in selling service over price.

Shown below are Las Vegas exclusive insurance agents that are able to give rate quotes.

More insurance agents

Independent Insurance Agents

These type of agents do not write with just one company so as a result can place your coverage with a variety of different insurance companies and find you the best rates. If they find a lower price, they can switch companies in-house which is easy for the insured.

If you are comparing rate quotes, you absolutely need to get rate quotes from several independent insurance agents so that you have a good selection of quotes to compare.

Below is a list of independent insurance agencies in Las Vegas that are able to give rate quotes.

More insurance agents

If you receive reasonable responses to these questions and a good coverage price, it’s a good possibility that you have found an insurance agent that is a good match to properly service your insurance policy. Just remember you have the power to cancel your policy whenever you wish so don’t think that you are permanently stuck with any particular company for the full term.

It’s not one size fits all

Always keep in mind that when comparing your policy for your vehicles, there really is no “perfect” insurance plan. Your financial needs are unique so your insurance needs to address that.
Here are some questions about coverages that might help in determining whether or not you might need an agent’s assistance.

• What if I total my Lexus ES 350 and owe more than it’s worth?
• Is my dog or cat covered if injured in an accident?
• Will my rates increase for filing one claim?
• Is a new car covered when I drive it off the dealer lot?
• Does medical payments coverage apply to all occupants?
• Should I rate my vehicle as business use?
• Can my babysitter drive my car?

If you’re not sure about those questions but a few of them apply, you might consider talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of car insurance companies in your area.

In conclusion

When buying insurance coverage, do not reduce needed coverages to save money. There are too many instances where consumers will sacrifice physical damage coverage and discovered at claim time they didn’t have enough coverage. The ultimate goal is to purchase a proper amount of coverage at an affordable rate, but do not skimp to save money.

Cheap Lexus ES 350 insurance in Las Vegas is possible online in addition to many Las Vegas insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. There are still a few companies who may not provide online rate quotes and usually these regional carriers sell through independent agents.

More tips and info about insurance can be found in these articles:

• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Who Has the Cheapest Las Vegas Car Insurance Quotes for Good Drivers? (FAQ)
• Who Has Cheap Las Vegas Car Insurance Rates for Police Officers? (FAQ)
• Who Has Affordable Las Vegas Auto Insurance Rates with Multiple Speeding Tickets? (FAQ)
• Understanding Rental Car Insurance (Insurance Information Institute)
• Auto Insurance 101 (About.com)
• Older Driver Statistics (Insurance Information Institute)