Searching for low-cost insurance for a new or used Lexus LX 570 in Colorado can turn out to be difficult, but you can learn the following methods to find lower rates. There are both good and bad ways to find auto insurance online so we’re going to tell you the quickest way to compare rates on a Lexus and locate the best price possible either online or from Denver insurance agents.
How Your LX 570 Insurance Rates are Determined
One of the most helpful ways to save on insurance is to to have a grasp of a few of the rating criteria that go into determining the rates you pay for insurance. If you have some idea of what positively or negatively impacts your premiums, this helps enable you to make changes that may reward you with much lower annual insurance costs.
The following are a partial list of the pieces that factor into your prices.
Save by driving vehicles with better crash test results – Cars with high safety ratings tend to have better insurance rates. Safe vehicles reduce injuries and lower injury rates translates into savings for insurance companies passed on to you as lower rates. If the Lexus LX 570 has at least four stars on Safercar.gov you may be receiving a better rate.
Bundling policies can get discounts – Most major companies will give discounts to buyers who buy several policies from them in the form of a multi-policy discount. The discount can add up to anywhere from five to ten percent in most cases. Even if you already get this discount, consumers should still get quotes from other companies to help guarantee you have the best rates.
Teenagers are high risk – Mature drivers are viewed as being more responsible, are lower risk to insure, and receive fewer citations.Teenage drivers tend to be easily distracted with other occupants in the car therefore insurance rates are much higher.
Premiums are affected by your credit history – Having a bad credit history can be a huge factor in determining what you pay. If your credit can be improved, you could pay less to insure your Lexus LX 570 by taking the time to improve your credit score. Drivers who have excellent credit tend to be less risk to insure than drivers with poor credit scores.
Lexus LX 570 statistical loss data – Insurers analyze past claim statistics when setting premium rates. Models that the data shows to have higher prevalence or dollar amount of losses will have increased rates. The next table shows the historical insurance loss data for Lexus LX 570 vehicles.
For each policy coverage, the claim probability for all vehicles, without regard to make or model, is set at 100. Numbers that are below 100 indicate a favorable loss history, while values over 100 indicate frequent claims or statistically larger claims.
Lexus LX 570 Insurance Loss Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus LX 570 4dr 4WD||140||96||217||49|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
The car insurance companies shown below are ready to provide free quotes in Denver, CO. If multiple companies are shown, it’s a good idea that you compare several of them in order to find the cheapest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LX 570 4WD 4-Dr||$270||$566||$426||$26||$128||$1,416||$118|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium costs do not factor in specific location information which can affect prices greatly.
An analysis of deductible level
The illustration below demonstrates how deductibles and can impact Lexus LX 570 insurance premiums for each different age group. The rate quotes are based on a married female driver, full coverage, and no policy discounts are applied.
Car insurance in Colorado serves several purposes
Despite the potentially high cost of Lexus LX 570 insurance, car insurance is not optional due to several reasons.
- The majority of states have mandatory insurance requirements which means you are required to carry specific minimum amounts of liability protection 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 you have a lien on your Lexus, most banks will require you to buy full coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender may insure your Lexus at a more expensive rate and require you to reimburse them for it.
- Insurance safeguards both your Lexus and your assets. It will also pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees in the event you are sued. If damage is caused by hail or an accident, your policy will cover the damage repairs after a deductible is paid.
The benefits of buying enough insurance greatly outweigh the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying over $820 a year so compare rates at least once a year to help ensure money is not being wasted.
These discounts can lower your insurance quotes
Car insurance can cost a lot, but there could be significant discounts that you may not know about. Certain discounts will be triggered automatically when you complete an application, but a few must be asked for prior to receiving the credit.
- Senior Discount – If you’re over the age of 55, you are able to get reduced rates.
- Membership in Organizations – Being in qualifying employment or professional organizations may earn a discount on your next insurance statement.
- Life Insurance Discount – Some insurance companies give a discounted insurance rate on car insurance if you buy some life insurance too.
- Theft Deterrent System – Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
- Telematics Devices – Drivers that enable data collection to analyze where and when they drive by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates if they exhibit good driving behavior.
- Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them complete a driver education course in school or through a local driver safety program.
- No Claim Discounts – Good drivers with no accidents are rewarded with significantly better rates on Denver car insurance quote as opposed to bad drivers.
- Sign Early and Save – Some companies give discounts for buying a new policy prior to the expiration date on your current LX 570 insurance policy. It could save around 10% when you buy Denver car insurance online.
One thing to note about discounts is that most discounts do not apply to the whole policy. Most only apply to specific coverage prices like medical payments or collision. If you do the math and it seems like you would end up receiving a 100% discount, that’s just not realistic.
A few popular companies and some of their more popular discounts are:
- American Family has savings for accident-free, mySafetyValet, air bags, early bird, multi-vehicle, and good student.
- Farm Bureau policyholders can earn discounts including multi-policy, safe driver, driver training, renewal discount, multi-vehicle, 55 and retired, and good student.
- State Farm discounts include Steer Clear safe driver discount, accident-free, student away at school, Drive Safe & Save, and defensive driving training.
- Travelers offers discounts including new car, continuous insurance, multi-policy, student away at school, payment discounts, multi-car, and hybrid/electric vehicle.
- The Hartford offers premium reductions for anti-theft, good student, vehicle fuel type, air bag, defensive driver, and bundle.
- GEICO may have discounts that include membership and employees, driver training, federal employee, multi-vehicle, air bags, and daytime running lights.
- Progressive has discounts for continuous coverage, homeowner, multi-policy, good student, and online signing.
When getting free Denver car insurance quotes, it’s a good idea to all companies you are considering how you can save money. Some of the discounts discussed earlier might not apply in your state. To see providers with discount insurance rates in Colorado, click this link.
When should I get advice from an insurance agency?
Certain consumers prefer to visit with an insurance agent and that is OK! Good insurance agents can help you choose the best coverages and help file insurance claims. The best thing about comparing insurance prices online is you may find cheap auto insurance rates and still have a local agent.
Upon completion of this form (opens in new window), your information is transmitted to local insurance agents in Denver that can provide free Denver car insurance quotes to get your business. You don’t have to search for any insurance agencies due to the fact that quote results will go instantly to you. If you have a need to quote rates from a specific insurance company, you just need to jump over to their website and fill out their quote form.
Finding the right company should depend on more than just the quoted price. These are some valid questions you should ask.
- Is the agent CPCU or CIC certified?
- What is the agency’s Better Business Bureau rating?
- Do they feel the quoted coverages are adequate?
- What is the financial rating for the quoted company?
- Are there any discounts for paying up front?
- Is the quote a firm price?
What types of car insurance agents are in Denver?
If you’re trying to find an insurance agent, you must know there are a couple types of insurance agents that you can select. Agents in Denver can be described as either exclusive agents or independent agents. Both types can sell affordable auto insurance policies, but it’s worth mentioning the difference between them since it can impact the kind of agent you use.
Exclusive Auto Insurance Agents
Agents that choose to be exclusive can only provide pricing for a single company and some examples include American Family, State Farm, and AAA. Exclusive agencies are unable to compare other company’s rates so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on their company’s products and that allows them to sell at a higher price point. Some insured continue to buy insurance from these agents mostly because of high brand loyalty rather than having low rates.
The following are Denver exclusive agents that can give you price quotes.
- Allstate Insurance: K.D. Sakraida
1932 W 33rd Ave – Denver, CO 80211 – (303) 433-2094 – View Map
- Farmers Insurance – Mike Schmisek
1100 S Shoshone St – Denver, CO 80223 – (303) 922-1001 – View Map
- Beth Bales – State Farm Insurance Agent
3650 S Yosemite St #408 – Denver, CO 80237 – (303) 993-2727 – View Map
Independent Auto Insurance Agencies
These agents are not locked into one company and that is an advantage because they can write policies with lots of companies and get the cheapest rates. If they quote lower rates, an independent agent can move your coverage and you can keep the same agent.
When comparing rate quotes, we recommend you compare quotes from multiple independent agents to get the most accurate price comparison. They also have the ability to place coverage with mutual insurance companies that can offer cheaper rates than bigger companies.
The following is a short list of independent agencies in Denver that can give you rate quotes.
- Moody Insurance Agency
8055 E Tufts Ave #1000 – Denver, CO 80237 – (303) 824-6600 – View Map
- L A Insurance
2684 S Broadway – Denver, CO 80210 – (303) 282-8000 – View Map
- Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133 – View Map
When choosing a policy for your vehicles, there is no “perfect” insurance plan. Your situation is unique so your insurance should reflect that
Here are some questions about coverages that could help you determine if your insurance needs will benefit from professional help.
- Who sells insurance for high-risk drivers?
- What is glass protection for?
- Does my insurance cover a custom paint job?
- When should I buy a commercial auto policy?
- What vehicles should carry emergency assistance coverage?
- Should I buy full coverage?
- Am I covered when using my vehicle for business?
If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.
How much can you save?
When trying to cut insurance costs, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced physical damage coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your strategy should be to buy enough coverage at the lowest possible cost, but don’t skip important coverages to save money.
We’ve covered a lot of information how to save on Lexus LX 570 insurance in Denver. It’s most important to understand that the more companies you get prices for, the better likelihood of getting inexpensive Denver car insurance quotes. You may even be surprised to find that the best price on auto insurance is with a small mutual company. Some small companies may only write in your state and offer lower prices than their larger competitors like Allstate and Progressive.
Affordable Lexus LX 570 insurance in Denver can be sourced from both online companies and from local agencies, and you should be comparing both to get a complete price analysis. A few companies may not provide price quotes online and most of the time these smaller providers prefer to sell through independent insurance agencies.
For more information, feel free to browse the resources below:
- Teen Driver Statistics (Insurance Information Institute)
- Who Has the Cheapest Denver Car Insurance for Young Drivers? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Safe Vehicles for Teens (iihs.org)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Property Damage Coverage (Liberty Mutual)