How many years has it been since you compared more affordable Lexus GS 350 insurance in Denver? Feel like you’re a prisoner to an overpriced car insurance policy? Don’t sweat it because there are lots of Denver residents who feel the same.
Surprisingly, a recent survey revealed that the vast majority of consumers in Colorado have bought car insurance from the same company for four years or more, and just short of a majority have never shopped around. The average driver in the U.S. could save up to 46.5% every year, but they just feel it’s too hard to find affordable insurance by shopping around. Insurance companies such as Allstate and Progressive constantly bombard you with advertising and it is challenging if not impossible to not get sucked in by the cute commercials and effectively compare rates to find the best deal.
Companies offering Lexus GS 350 insurance in Denver
The companies in the list below have been selected to offer price comparisons in Colorado. If multiple companies are shown, we recommend you visit as many as you can in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|GS 350 AWD||$294||$640||$388||$22||$116||$1,460||$122|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate information does not factor in vehicle location which can decrease or increase insurance rates greatly.
Lexus GS 350 liability rates compared to full coverage
The chart below shows the comparison of Lexus GS 350 car insurance rates when comparing full coverage to state minimum liability only. The rates are based on a clean driving record, no at-fault accidents, $250 deductibles, single female driver, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no definitive rule to eliminate full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s say your Lexus GS 350 replacement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after you pay the deductible. If it’s costing you more than $700 annually for full coverage, then you may need to consider dropping full coverage.
There are some cases where removing full coverage is not advised. If you haven’t satisfied your loan, you have to keep full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
Lexus GS 350 insurance premiums by gender and age
The chart below illustrates the difference between Lexus GS 350 insurance prices for male and female drivers. The rates are based on no accidents, no driving violations, full coverage, $250 deductibles, single marital status, and no policy discounts are applied.
Nine discounts for cheap insurance quotes
Some companies do not advertise their entire list of discounts very well, so the list below gives a summary of some of the more common in addition to some of the lesser obvious credits that may apply to you.
- Discount for Swiching Early – A few larger companies give discounts for renewing your policy before your current coverage expires. This discount can save up to 10%.
- Driver Training Discounts – Taking part in a class that teaches defensive driver techniques can save you 5% or more and easily pay for the cost of the class.
- More Vehicles More Savings – Insuring more than one vehicle with the same company may reduce the rate for each vehicle.
- Own a Home and Save – Simply owning a home can save a few bucks because of the fact that having a home requires personal responsibility.
- Policy Bundle Discount – If you combine your homeowners and auto policies with one company they may give you a discount of approximately 10% to 15%.
- Low Miles Discount – Fewer annual miles on your Lexus could be rewarded with lower premium rates due to less chance of an accident.
- Membership in Organizations – Joining qualifying employment or professional organizations is a good way to get lower rates on your next insurance statement.
- Accident Waiver – Not necessarily a discount, but certain companies may permit one accident without getting socked with a rate hike if you have no claims for a set time period.
- Good Student Discount – A discount for being a good student may save you up to 25%. This discount can apply up to age 25.
Don’t be shocked that some credits don’t apply to the entire cost. A few only apply to the price of certain insurance coverages like medical payments or collision. Even though the math looks like it’s possible to get free car insurance, you won’t be that lucky.
Large insurance companies and a partial list of their discounts are:
- Progressive offers discounts for good student, continuous coverage, multi-vehicle, online quote discount, multi-policy, homeowner, and online signing.
- MetLife offers premium reductions for defensive driver, good driver, good student, claim-free, multi-policy, and accident-free.
- Mercury Insurance discounts include age of vehicle, professional/association, good driver, multi-policy, anti-theft, ease of repair, and low natural disaster claims.
- Nationwide may include discounts for multi-policy, Farm Bureau membership, business or organization, anti-theft, and good student.
- GEICO has savings for defensive driver, membership and employees, good student, seat belt use, emergency military deployment, and federal employee.
- AAA offers discounts including education and occupation, multi-car, anti-theft, pay-in-full, and AAA membership discount.
Before you buy a policy, ask every insurance company how you can save money. Discounts might not be available to policyholders in Denver.
How do I know if I need professional advice?
When selecting proper insurance coverage for your vehicles, there really is not a perfect coverage plan. Your situation is unique.
For example, these questions can help discover whether your personal situation could use an agent’s help.
- What are good deductibles for a Lexus GS 350?
- What is the minimum liability in Colorado?
- Do I have coverage when making deliveries for my home business?
- Do I have ACV or replacement cost coverage?
- Do I have coverage when pulling a U-Haul trailer?
- Are all vehicle passengers covered by medical payments coverage?
- Should I carry comprehensive and collision coverage?
If you can’t answer these questions, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form. It only takes a few minutes and may give you better protection.
What if I want to buy from local Denver car insurance agents?
Many drivers still like to get professional advice from a licensed agent and that can be a great decision Agents can make sure you are properly covered and help in the event of a claim. A nice benefit of comparing rates online is that you can obtain lower rates and still buy from a local agent.
Upon completion of this simple form, your insurance data is emailed to agents in your area who will gladly provide quotes and help you find cheaper coverage. You never need to search for an agent since rate quotes are delivered directly to you. If you need to quote rates from a specific company, you can always navigate to their website and fill out the quote form the provide.
Finding a good insurer is decision based upon more than just the bottom line cost. A good agent in Denver will have answers to these questions.
- What are their preferred companies if they are an independent agency?
- Do they feel the quoted coverages are adequate?
- Can you choose the body shop in case repairs are needed?
- Is there any savings for paying the full premium?
- Can glass claims be handled at your home?
If you are wanting to purchase insurance from a reputable insurance agent or broker, there are a couple of different types of agents and how they can service your needs differently. Agents in Denver can be classified as either exclusive agents or independent agents. Either type can insure your vehicles properly, but it is important to understand the difference in the companies they write for since it can affect which agent you choose.
Exclusive Insurance Agencies
These type of agents have only one company to place business with such as Farmers Insurance and State Farm. Exclusive agents cannot provide prices from multiple companies so you might not find the best rates. Exclusive insurance agents are very knowledgeable on what they offer which helps overcome the inability to quote other rates.
The following are Denver exclusive agencies that can give you comparison quotes.
Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 – View Map
Independent Insurance Agencies
Agents that choose to be independent do not work for one specific company and that allows them to write policies through lots of different companies depending on which coverage is best. If they quote lower rates, the business is moved internally without you having to go to a different agency. When comparing insurance rates, you need to contact multiple independent agents for the best price selection.
The following is a short list of independent insurance agents in Denver that can give you rate quotes.
Gonzalez Insurance Agency
6450 E Colfax Ave – Denver, CO 80220 – (303) 320-4901 – View Map
Insurance ads are enticing
Consumers in Colorado can’t avoid all the ads for insurance savings from companies such as State Farm, Allstate and GEICO. They all seem to try to convey promises of big savings if you get a free Denver auto insurance quote and switch to their company.
How is it possible that every company can make the same claim? It’s all in the wording.
Insurance companies can use profiling for a prospective insured that will most likely be profitable. One example of this type of risk profile may be a married male, has a clean driving record, and drives less than 7,500 miles a year. Anybody who matches those parameters will get a cheap rate quote in Denver and most likely will cut their Lexus GS 350 insurance rates if they switch.
People who do not match the ideal profile will probably be forced to pay higher prices with the end result being the customer buying from someone else. The ad wording is “people who switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way insurance companies can confidently make those claims. Because of these techniques, drivers must get as many free Denver auto insurance quotes as possible. Because you cannot predict with any certainty which company will have the lowest rate quotes.
Detailed coverages of your car insurance policy
Knowing the specifics of a car insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.
Protection from uninsured/underinsured drivers – This protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Lexus GS 350.
Since a lot of drivers only purchase the least amount of liability that is required (25/50/15), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive (Other than Collision) – Comprehensive insurance pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as damage from flooding, falling objects, theft, damage from a tornado or hurricane and rock chips in glass. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for pain medications, rehabilitation expenses, hospital visits, dental work and ambulance fees. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Collision – Collision insurance pays for damage to your GS 350 caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against things like sideswiping another vehicle, hitting a parking meter and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible on your GS 350 to save money on collision insurance.
Liability car insurance – This can cover damages or injuries you inflict on other’s property or people that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/15 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $15,000 for damage to vehicles and property.
Liability can pay for claims like legal defense fees, pain and suffering, structural damage and medical services. The amount of liability coverage you purchase is up to you, but consider buying as high a limit as you can afford. Colorado requires drivers to carry at least 25/50/15 but it’s recommended drivers buy better liability coverage.
Compare rates regularly to save
When shopping online for car insurance, it’s not a good idea to sacrifice coverage to reduce premiums. In too many instances, an accident victim reduced physical damage coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. The goal is to find the BEST coverage at the best cost, but don’t skip important coverages to save money.
Budget-conscious Lexus GS 350 insurance is possible on the web and with local Denver insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance providers may not provide online price quotes and these small insurance companies only sell coverage through independent insurance agencies.
Drivers switch companies for a number of reasons such as extreme rates for teen drivers, an unsatisfactory settlement offer, delays in paying claims and denial of a claim. Regardless of your reason for switching companies, choosing a new company can be pretty painless.
To learn more, take a look at the articles below:
- How do I File a Claim? (Insurance Information Institute)
- Who Has Cheap Car Insurance for a Toyota Corolla in Denver? (FAQ)
- How Much are Car Insurance Quotes for a Kia Optima in Denver? (FAQ)
- Who Has Affordable Denver Auto Insurance Quotes for a Toyota Camry? (FAQ)
- How Much are Auto Insurance Quotes for Felons in Denver? (FAQ)
- Who Has Cheap Car Insurance Rates for a Chevrolet Silverado in Denver? (FAQ)
- What Insurance is Cheapest for Low Mileage Drivers in Denver? (FAQ)
- Smart Auto Insurance Tips (Insurance Information Institute)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Child Safety Seats (Insurance Information Institute)