It’s an obvious assumption that car insurance companies don’t want policyholders to compare prices from other companies. People who compare rates once a year are highly likely to buy a new policy because of the good chance of finding a lower rate. Remarkably, a study showed that consumers who routinely shopped around saved approximately $865 a year compared to other drivers who never shopped around for cheaper prices.
If finding the cheapest rates on auto insurance in Lubbock is the reason for your visit, then learning about how to choose a company and compare insurance can make the process more efficient.
It takes a little time, but the best way to get affordable auto insurance rates in Lubbock is to make a habit of regularly comparing prices from companies that sell auto insurance in Texas.
- First, take a few minutes and learn about policy coverages and the things you can control to prevent rate increases. Many risk factors that cause rate increases such as getting speeding tickets and a bad credit rating can be controlled by making lifestyle changes or driving safer.
- Second, compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive or Farmers Insurance, while independent agencies can give you price quotes for many different companies. Click to view companies
- Third, compare the new rate quotes to your current policy to see if cheaper LX 570 coverage is available. If you can save money and buy the policy, make sure coverage does not lapse between policies.
One thing to remember is that you use similar limits and deductibles on every quote request and and to get quotes from as many different companies as possible. This helps ensure a fair rate comparison and the best price selection.
When price shopping your coverage, comparing a wide range of rates will increase your chances of finding the best offered rates.
The auto insurance companies shown below offer price comparisons in Texas. To buy cheap auto insurance in Texas, it’s highly recommended you click on several of them to get a more complete price comparison.
Car insurance analysis for a Lexus LX 570
The rate table below covers estimates of policy rates for Lexus LX 570 models. Being aware of how insurance premiums are established can be valuable when making smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LX 570 4WD 4-Dr||$598||$1248||$514||$30||$154||$2,544||$212|
|Get Your Own Custom Quote Go|
Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Premium amounts do not factor in vehicle location which can change coverage rates substantially.
Difference between liability only and full coverage rates
The chart below visualizes the comparison of Lexus LX 570 car insurance rates with full coverage compared to only the Texas minimum liability coverage. The premium estimates are based on a clean driving record, no claims, $500 deductibles, drivers are not married, and no discounts are factored in.
When to stop buying full coverage
There is no exact rule for dropping full coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let’s assume your Lexus LX 570 settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after you pay the deductible. If you are paying more than $500 annually for full coverage, then you might consider buying liability only.
There are some circumstances where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Car insurance in Texas serves several purposes
Even though it’s not necessarily cheap to insure a Lexus in Lubbock, insuring your vehicle may not be optional for several reasons.
First, just about all states have mandatory liability insurance requirements which means you are required to carry a minimum amount of liability insurance coverage if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a lien on your vehicle, almost all lenders will force you to have insurance to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the bank may buy a policy for your Lexus at an extremely high rate and require you to reimburse them for the expensive policy.
Third, car insurance protects both your Lexus LX 570 and your personal assets. It will also reimburse you for all forms of medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also pays for attorney fees and expenses in the event you are sued. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are without a doubt worth the cost, particularly for liability claims. The average driver in Texas is currently overpaying as much as $869 every year so it’s very important to do a rate comparison at every policy renewal to be sure current rates are still competitive.
Do you qualify for discounts on Lexus LX 570 insurance in Lubbock?
Some providers don’t always advertise all discounts very well, so the following list contains a few of the more well known and the harder-to-find credits available to bring down your rates.
- Passive Restraints – Options like air bags can qualify for discounts of 25 to 30%.
- Accident Waiver – This isn’t a discount exactly, but some insurance companies may permit one accident without raising rates with the catch being you have to be claim-free for a set time period.
- Theft Deterrent System – Cars, trucks, and SUVs that have factory anti-theft systems are less likely to be stolen and qualify for as much as a 10% discount.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles can stop better under adverse conditions and therefore earn up to a 10% discount.
- Senior Citizen Discount – Seniors may qualify for a slight reduction on a Lubbock auto insurance quote.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to the overall cost of the policy. A few only apply to the price of certain insurance coverages like comp or med pay. If you do the math and it seems like all those discounts means the company will pay you, it just doesn’t work that way.
The illustration below shows the comparison of Lexus LX 570 insurance rates with and without discounts applied to the policy rates. The data assumes a female driver, no claims, a clean driving record, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, homeowner, multi-car, and marriage discounts applied.
If you would like to view companies who offer free Lexus LX 570 insurance quotes in Lubbock, click this link.
When should I have guidance from an agent?
A lot of people would prefer to talk to an insurance agent and that is a smart decision One of the great benefits of comparing rates online is the fact that you can find cheap insurance rates and still buy from a local agent. Buying from and supporting neighborhood insurance agencies is important especially in Lubbock.
By using this short form, your insurance coverage information is submitted to insurance agents in Lubbock who will give you quotes for your coverage. There is no reason to visit any agencies because prices are sent to you directly. You can find the lowest rates AND a local agent. If you have a need to compare prices for a specific company, you can always search and find their rate quote page and submit a quote form there.
Choose the right auto insurance agent
If you are wanting to purchase insurance from a reliable insurance agency, it helps to know the two different types of agents and how they can service your needs differently. Agents in Lubbock may be either exclusive or independent (non-exclusive).
Independent Insurance Agencies
Agents in the independent channel often have affiliation with several companies so they have the ability to put coverage with lots of companies depending on which coverage is best. To move your coverage to a new company, the agent simply finds a different carrier and you don’t have to switch agencies.
If you are comparing rate quotes, you need to check rates from several independent agencies so that you can do a thorough price comparison.
The following is a partial list of independent insurance agencies in Lubbock who can help you get price quotes.
David Tate Insurance Agency LLP
5233 79th St – Lubbock, TX 79424 – (806) 794-1177 – View Map
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company and some examples include Allstate, Farmers Insurance, State Farm, and AAA. These agents are not able to compare rates from other companies so they have to upsell other benefits. Exclusive insurance agents are very knowledgeable on their products and sales techniques which can be an advantage.
Below is a short list of exclusive agencies in Lubbock who can help you get comparison quotes.
Finding a good insurance agent shouldn’t rely on just the bottom line cost. These are some questions you should get answers to.
- What company holds the largest book of business for them?
- Is vehicle damage repaired with OEM or aftermarket parts?
- What companies can they write with?
- Do the coverages you’re quoting properly cover your vehicle?
- Does the agent have a valid license to sell insurance in Texas?
- Is the agent CPCU or CIC certified?
- Is the agency involved in supporting local community causes?
- Do they carry Errors and Omissions coverage?
Auto insurance policy coverages for a Lexus LX 570
Knowing the specifics of your policy aids in choosing the right coverages and proper limits and deductibles. Auto insurance terms can be confusing and reading a policy is terribly boring. Shown next are typical coverage types offered by auto insurance companies.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This gives you protection from other drivers when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Lexus LX 570.
Because many people have only the minimum liability required by law (Texas limits are 30/60/25), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually these coverages do not exceed the liability coverage limits.
Medical payments and PIP coverage
Med pay and PIP coverage kick in for bills for pain medications, chiropractic care, prosthetic devices and X-ray expenses. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as hitting a bird, damage from flooding, fire damage and hail damage. The most a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Liability coverage provides protection from damage that occurs to people or other property in an accident. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 30/60/25 which means $30,000 in coverage for each person’s injuries, a limit of $60,000 in injury protection per accident, and $25,000 of coverage for damaged property. Another option is a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.
Liability coverage pays for things like bail bonds, structural damage, medical expenses, pain and suffering and attorney fees. The amount of liability coverage you purchase is your choice, but consider buying as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but drivers should carry more coverage.
The next chart shows why buying low liability limits may not be high enough to cover claims.
Collision coverage protection
This coverage covers damage to your LX 570 resulting from a collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as hitting a mailbox, crashing into a ditch and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible on your LX 570 to get cheaper collision coverage.
Texas car insurance companies
Picking the best insurance provider can be rather challenging considering how many companies there are to choose from in Lubbock. The company rank data shown next could help you choose which providers you want to consider putting your business with.
Top 10 Lubbock Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Top 10 Lubbock Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
More quotes mean more car insurance savings
More affordable car insurance in Lubbock can be bought both online in addition to many Lubbock insurance agents, and you should be comparing both in order to have the best chance of saving money. Some car insurance companies do not provide online quoting and many times these smaller companies sell through independent agents.
Throughout this article, we presented many ways to lower your Lexus LX 570 insurance prices in Lubbock. The most important thing to understand is the more times you quote, the higher the chance of saving money. Drivers may even discover the lowest prices come from some of the lesser-known companies. Some small companies often have lower rates on specific markets than the large multi-state companies such as State Farm and Allstate.
As you go through the steps to switch your coverage, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where an insured dropped liability coverage limits and learned later that the few dollars in savings costed them thousands. Your goal is to purchase a proper amount of coverage at the best possible price while not skimping on critical coverages.
Helpful learning opportunities
- Child Safety FAQ (iihs.org)
- Who Has Cheap Lubbock Auto Insurance for State Employees? (FAQ)
- How Much is Lubbock Auto Insurance for a Chevrolet Equinox? (FAQ)
- Who Has Cheap Lubbock Auto Insurance for a GMC Sierra? (FAQ)
- How Much is Lubbock Car Insurance for First-time Drivers? (FAQ)
- Event Data Recorders FAQ (iihs.org)
- What is a Telematics Device? (Allstate)
- What is Covered by GAP Insurance? (Allstate)