Scraping up a payment for expensive Lexus IS 200t insurance in Lubbock can eat up your family's budget, especially in this economy. Performing a rate comparison is a great way to cut your insurance bill.
Sad but true, most insurance policyholders have bought insurance from the same company for at least four years, and nearly 40% of drivers have never even shopped around for cheap coverage. Most drivers in Texas could save an average of nearly $1,766 each year, but they won't spend time to go online and compare rates. Online insurance companies like Allstate, Liberty Mutual and State Farm all claim big savings with TV and radio ads and consumers find it hard to ignore the flashy ads and effectively compare rates to find the best deal.
It's smart to take a look at other company's rates at least once a year because insurance prices are usually higher with each renewal. Despite the fact that you may have had the best rate on Lexus IS 200t insurance in Lubbock a couple years back there may be better deals available now. Forget anything you know (or think you know) about insurance because you're about to find out how to use online quotes to lower your rates without sacrificing coverage.
If you have insurance now or need a new policy, you can use this information to buy cheaper auto insurance without having to cut coverage. Locating the most cost-effective auto insurance policy in Lubbock is not that difficult. Consumers only need an understanding of the most efficient way to quote multiple rates over the internet.
The following companies have been selected to offer free rate quotes in Lubbock, TX. In order to find cheap auto insurance in Lubbock, TX, it's a good idea that you get price quotes from several of them to find the most affordable auto insurance rates.
Verify you're receiving every discount
The cost of insuring your cars can be expensive, but you might already qualify for some discounts to reduce the price significantly. A few discounts will be applied at the time of purchase, but some discounts are required to be specially asked for before you get the savings. If you are not receiving all the discounts possible, you are just wasting money.
- Life Insurance Discount - Larger insurance carriers have a small discount if you purchase life insurance from them.
- Military Discounts - Being on active deployment in the military may qualify for rate reductions.
- Bundle and Save - If you can bundle your auto and homeowners insurance and insure them with the same company they may give you a discount of at least 10 to 15 percent or more.
- Drive Less and Save - Driving less may allow you to get cheaper rates.
- First Accident Forgiveness - This isn't a discount exactly, but companies like Liberty Mutual, Allstate and State Farm permit an accident before hitting you with a surcharge if you are claim-free for a certain period of time.
- Seat Belts Save - Forcing all vehicle occupants to buckle their seat belts can save a little off the PIP or medical payment premium.
- Senior Citizen Rates - Drivers that qualify as senior citizens could receive reduced rates.
- Accident Free - Insureds who avoid accidents and claims pay less when compared to frequent claim filers.
A quick disclaimer, many deductions do not apply to the whole policy. Some only reduce individual premiums such as medical payments or collision. Even though it may seem like you would end up receiving a 100% discount, you're out of luck. Any qualifying discounts will help reduce your overall premium however.
Car insurance companies that may include these discounts may include but are not limited to:
When quoting, ask all the companies to apply every possible discount. Some of the discounts discussed earlier might not apply in Lubbock. To see a list of companies that offer multiple discounts in Texas, follow this link.
Informed Consumers Know How to Get Car Insurance for Less
Smart consumers have a good feel for a few of the rating criteria that help calculate the level of your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that may reward you with better car insurance rates. Many factors are used when premium rates are determined. Some are obvious like a motor vehicle report, but other criteria are less apparent such as your credit history or how financially stable you are.
The itemized list below are just a few of the factors used by your company to calculate your rate level.
- Do you save by driving less? - The more miles you rack up on your Lexus annually the higher your rate. Most companies charge to insure your cars determined by how the vehicle is used. Vehicles that have low annual miles receive lower rates than vehicles that have high annual mileage. A policy that improperly rates your IS 200t may be costing you. Double check that your policy properly reflects the correct usage, because improper ratings can cost you money.
- Small claims can cost you - If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Insurance companies in Texas award the lowest premiums to people who file claims infrequently. Insurance coverage is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
- Single drivers may pay higher prices - Being married can get you a discount when shopping for car insurance. It usually means you are less irresponsible and statistics prove drivers who are married are more cautious.
- Certain vocations raise rates - Did you know your job can affect your rates? Careers like fire fighters, architects, and dentists are shown to have higher premium rates attributed to high stress and long work days. Other jobs such as professors, students and the unemployed pay lower than average rates.
- Youthful driver insurance costs - Older, more experienced drivers tend to be more responsible, tend to cause fewer accidents, and are safer drivers. Young drivers are proven to get distracted easily when driving with friends so car insurance rates are higher.
- Pay less with a high crash test rating - Cars with high safety ratings cost less to insure. Highly rated vehicles protect occupants better and lower rates of occupant injuries translates directly to fewer claims and lower rates for you. If your Lexus IS 200t is rated at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.
- Adjust coverage deductibles and save - Comprehensive and collision coverage deductibles state the amount of money you are required to spend if you file a covered claim. Insurance for physical damage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered would be rear-ending another vehicle, fire damage, and having a roll-over accident. The more you choose to pay out-of-pocket, the better rate you will receive.
- Rates for guys may be higher - Statistics demonstrate women tend to be less risk to insure than men. Now that doesn't mean women are BETTER drivers than men. Both genders tend to get into accidents at about the same rate, but the men have accidents that have higher claims. Men also tend to get cited for more serious violations like reckless driving and DUI. Teenage male drivers have the highest risk to insure so it costs more to insure them.