Affordable Quotes for Lexus GS 450h Insurance in Denver

Do you get exhausted from scraping nickels together to buy insurance? You have the same problem as many other Colorado drivers.

Unfortunately, almost 70% of drivers kept their policy with the same company for at least four years, and virtually 40% of consumers have never taken the time to shop around. Colorado drivers could save an average of approximately $610 each year, but they think it’s difficult to do a rate comparison.

Many insurance companies compete for your hard-earned dollar, and it can be difficult to compare rates and get the best coverage at the best rates possible on Lexus GS 450h insurance in Denver.

When quoting car insurance, remember that comparing more rates from different companies helps increase your odds of locating the best offered rates.

The companies in the list below offer price quotes in Denver, CO. If multiple providers are shown, it’s a good idea that you get prices from several of them to find the most competitive car insurance rates.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Prices do not factor in zip code location which can change premium rates considerably.

Lexus GS 450h full coverage rates compared to liability only

The example below shows the difference between Lexus GS 450h insurance premiums when comparing full coverage to liability only. The information is based on no violations or accidents, $250 deductibles, single male driver, and no discounts are factored in.

When to stop buying physical damage coverage

There is no clear-cut rule that is best for determining when to drop full coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% 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 450h replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $6,000 after paying your policy deductible. If it’s costing in excess of $600 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some cases where eliminating full coverage is not a good idea. If you still owe a portion of the original loan, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

Physical damage deductibles

One frequently asked question is how high should the deductibles for physical damage be. The rates below can help illustrate the rate difference of buying low and high deductibles. The first data set uses a $100 physical damage deductible 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 Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific location which can decrease or increase insurance rates noticeably.

We can estimate from the data above that using a $100 deductible could cost the average driver approximately $34 more each month or $408 annually than buying the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you tend to have more than 12 months between claim filings, you would probably come out ahead by selecting a higher deductible. Below is the way we made this calculation.

One big caveat is that higher deductibles results in more money out-of-pocket when you have a comprehensive or collision claim. You must have some savings in the bank in the event you need to pay the deductible to have repairs made.

Car insurance discounts are available for cheaper rates

The price of auto insurance can be rather high, but you might already qualify for some discounts that may help make it more affordable. A few discounts will automatically apply when you quote, but some may not be applied and must be asked for before being credited.

• Driver’s Ed – It’s a good idea to have your young drivers take driver’s ed class if offered at their school.
• Government Employees – Active or former government employment could qualify for a slight premium decrease depending on your car insurance provider.
• Theft Deterrent System – Cars and trucks equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and therefore earn up to a 10% discount.
• Safe Driver Discounts – Insureds without accidents can save as much as half off their rates as compared to drivers with claims.
• Accident Forgiveness Coverage – Not really a discount, but some companies like GEICO and Allstate permit an accident without the usual rate increase with the catch being you have to be claim-free for a set time period.
• Low Miles Discount – Driving less can earn cheaper rates.

We need to note that most credits do not apply to the entire policy premium. A few only apply to the price of certain insurance coverages like comp or med pay. So despite the fact that it appears adding up those discounts means a free policy, company stockholders wouldn’t be very happy.

A partial list of companies who might offer these money-saving discounts are:

• State Farm
• Nationwide
• GEICO
• AAA
• 21st Century
• The Hartford

Before purchasing a policy, check with every company which discounts can lower your rates. Some credits might not be available to policyholders in your area. If you would like to see a list of insurers that offer some of these discounts in Denver, follow this link.

Comparing rates from local Denver car insurance agents

A lot of people just prefer to visit with an insurance agent and doing so can bring peace of mind One of the benefits of getting free rate quotes online is you can get lower rates and also buy local.

After filling out this simple form, the coverage information is submitted to agents in your area that provide free Denver car insurance quotes for your coverage. You never need to drive around since price quotes are sent directly to you. You’ll get the best rates without a big time investment. If you wish to compare rates from a specific insurance company, don’t hesitate to navigate to their website and give them your coverage information.

Deciding on an insurer should include more criteria than just the bottom line cost. The following questions are important to ask.

• Are they actively involved in the community?
• Who are their largest clients?
• If you are a high risk driver, do they have special markets for your coverage?
• Does the company use OEM repair parts?
• How often do they review coverages?
• Will one accident increase rates?
• Do you qualify for any additional discounts?
• Which insurance companies are they affiliated with?

If you want to use a reliable insurance agency, it can be helpful to understand the types of insurance agents and how they work. Insurance agents in Denver can be categorized as either independent (non-exclusive) or exclusive.

Exclusive Insurance Agencies

These type of agents write business for a single company and some examples include AAA, Allstate, and State Farm. Exclusive agents are unable to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are well trained on their company’s products which helps overcome the inability to quote other rates.

The following is a short list of exclusive agencies in Denver who can help you get price quote information.

View more Denver agents

Independent Insurance Agents

Independent agencies are not employed by one company and that allows them to write policies with an assortment of companies enabling the ability to shop coverage around. To transfer your coverage to a different company, they simply move your policy to a different company which requires no work on your part. When comparison shopping, you will definitely want to get some free quotes from a few independent agents to ensure the widest selection of prices.

Shown below are Denver independent agents that can give you price quote information.

View more Denver agents

Upon getting reasonable responses to any questions you have and an acceptable price quote, you may have just found an auto insurance agent that is reputable and can properly insure your vehicles.

Lexus GS 450h Insurance Premium Factors

It’s important that you understand some of the elements that help calculate your premiums. If you know what determines base rates, this allows you to make good choices that can earn you lower rates.

The factors shown below are most of the major factors used by your company to calculate your prices.

• Performance makes a difference – The make and model of the vehicle you are buying insurance for makes a substantial difference in how high your rates are. The best insurance prices are usually found on low performance passenger vehicles, but other factors influence the final cost greatly. Since the Lexus GS 450h is a luxury sedan, insurance will be more than the average rate where you live in Denver.
• Poor credit score equals high prices – Credit history is a big factor in determining what you pay for car insurance. If your credit rating is low, you could pay less to insure your Lexus GS 450h by improving your credit score. Drivers with high credit ratings tend to be better risks to insure than those with bad credit.
• Poor driving means higher costs – Being a careful driver can have a huge impact on auto insurance premiums. Just one ticket can boost insurance rates to the point where it’s not affordable. Careful drivers pay less for auto insurance compared to drivers with tickets. People who have flagrant tickets like DUI or reckless driving are required to file a SR-22 with their state in order to drive a vehicle legally.
• Low comp and collision deductibles cost more – The deductibles you choose define how much you are required to spend if a claim is determined to be covered. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some examples of covered claims could be collision with another vehicle, animal collisions, or theft of your vehicle. The more expense the insured has to pay upfront, the less money you will pay for car insurance.
• Deter vehicle theft – Buying a car with an alarm system can save you some money. Theft prevention features such as OnStar, LoJack tracking, and tamper alarms can help prevent auto theft.
• Miles impacts premiums – The more you drive in a year’s time the more it will cost to insure it. The majority of insurers calculate prices based upon how much you drive. Vehicles used primarily for pleasure use get more affordable rates than vehicles that have high annual mileage. Improper usage on your GS 450h can cost quite a bit. Verify your car insurance declarations sheet states the correct usage.
• Males tend to take more risk – Over the last 30 years, statistics show that females take fewer risks when driving. That doesn’t necessarily mean that females are better at driving than males. Females and males are responsible for accidents at about the same rate, but males tend to have more serious accidents. Men also tend to receive more major tickets like DWI (DUI) or reckless driving.
• Lexus GS 450h claim statistics – Insurers include the past claim trends for vehicles when they calculate premium prices for each model. Vehicles that have a higher amount or frequency of claims will have higher premium rates. The information below illustrates the actual insurance loss data for Lexus GS 450h vehicles.

  For each coverage category, the statistical loss for all vehicles compiled together is a value of 100. Values below 100 are indicative of better than average losses, while percentage values above 100 indicate more frequent losses or statistically larger losses.

  Lexus GS 450h Insurance Claim Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lexus GS 450h Hybrid 4dr	208		250

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Auto insurance protects more than just your car

Despite the fact that auto insurance is not cheap in Denver, auto insurance is a good idea for several reasons.

• Most states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability in order to get the vehicle licensed. 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 you bought your vehicle with a loan, almost every bank will force you to buy insurance to protect their interest in the vehicle. If you do not keep the policy in force, the bank will be required to insure your Lexus for a lot more money and force you to pay for it.
• Auto insurance preserves both your vehicle and your personal assets. Insurance will also pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you are sued as the result of an accident. If your Lexus gets damaged, comprehensive and collision coverage will pay to repair the damage.

The benefits of insuring your car greatly outweigh the cost, especially when you need to use it. According to a 2015 survey, the average American driver is wasting up to $830 a year so smart consumers compare quotes at least once a year to ensure rates are inline.

Compare but don’t skimp

We just showed you some good ideas how you can lower your Lexus GS 450h insurance premium rates in Denver. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Drivers may even discover the biggest savings come from some of the lesser-known companies. Some small companies often have lower prices on specific markets as compared to the big name companies such as State Farm or Progressive.

Some companies may not have rate quotes online and these regional insurance providers prefer to sell through independent insurance agents. Lower-priced Lexus GS 450h insurance in Denver is available both online and also from your neighborhood Denver agents, so compare prices from both to have the best selection.

Additional information can be found at these links:

• Understanding your Policy (NAIC.org)
• Who Has the Cheapest Auto Insurance Rates After a Speeding Ticket in Denver? (FAQ)
• What is the Cheapest Auto Insurance in Denver, Colorado? (FAQ)
• What Insurance is Cheapest for Teachers in Denver? (FAQ)
• What Auto Insurance is Cheapest for Drivers Under 21 in Denver? (FAQ)
• Who Has Cheap Denver Car Insurance Rates for 18 Year Olds? (FAQ)
• Who Has the Cheapest Auto Insurance for Drivers with Good Credit in Denver? (FAQ)
• Safety Tips for Teen Drivers (Insurance Information Institute)
• Credit Impacts Car Insurance Rates (State Farm)
• Older Driver Statistics (Insurance Information Institute)
• Vehicle Size and Weight FAQ (iihs.org)