Do you want to save money by finding lower-priced Lexus IS 250 insurance in Phoenix? If you are new to getting Phoenix car insurance quotes online, it’s easy to be overwhelmed by the vast assortment of companies who claim to have the best insurance rates.
It’s astonishing, but the vast majority of consumers have stayed with the same insurance company for four years or more, and approximately 40% of consumers have never quoted insurance rates at all. Arizona drivers could save an average of approximately 50% each year by just comparing quotes, but they don’t know the amount of savings they would get if they changed companies.
You should make it a habit to price shop coverage every six months because insurance prices are adjusted regularly by insurance companies. Just because you found the best quotes on Lexus IS 250 insurance in Phoenix six months ago you may be paying too much now. There is lot of inaccurate information about IS 250 insurance on the internet, but by reading this article, you’re going to learn some proven techniques to save money.
Buying the cheapest auto insurance in Phoenix can really be easy if you know what you’re doing. If you are paying for car insurance now, you will definitely be able to get lower rates using these tips. Nevertheless, Arizona consumers can benefit by having an understanding of the way companies calculate their prices and use this information to your advantage.
The are a couple different ways to compare quotes from companies that offer car insurance in Arizona. The simplest method to lower the rate you pay for Lexus IS 250 insurance is to perform an online rate comparison.
When comparison shopping, comparing a wide range of rates will improve the odds of getting the best offered rates. Some insurance companies are not set up to provide online Phoenix IS 250 insurance quotes, so it’s recommended that you also compare quotes from the smaller companies as well.
The companies shown below are ready to provide comparison quotes in Phoenix, AZ. If multiple providers are shown, it’s highly recommended you visit two to three different companies to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$158||$384||$308||$18||$92||$960||$80|
|IS 250 AWD 4-Dr||$224||$440||$240||$14||$72||$990||$83|
|IS 250 C 2-Dr Convertible||$254||$538||$288||$18||$86||$1,184||$99|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Arizona minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can change premium rates noticeably.
Rate difference between full and liability-only coverage
The information below shows the comparison of Lexus IS 250 insurance premiums with full physical damage coverage and with liability coverage only. The prices are based on a clean driving record, no at-fault accidents, $100 deductibles, single female driver, and no discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut rule of when to eliminate full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Lexus IS 250 book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after paying your deductible. If you are paying more than $800 annually to have full coverage, then it may be the right time to buy liability only.
There are a few situations where eliminating full coverage is not in your best interest. If you haven’t paid off your loan, you have to carry full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Discount Phoenix car insurance rates
Auto insurance companies do not list their entire list of discounts very clearly, so the list below contains a few of the more well known as well as the least known credits that may apply to you.
- ABS Brakes – Anti-lock brake equipped vehicles are much safer to drive so you can save 10 percent or more.
- Theft Prevention System – Anti-theft and alarm system equipped vehicles help deter theft and will save you 10% or more on IS 250 insurance in Phoenix.
- Multi-Vehicle Discounts – Drivers who insure multiple cars or trucks on one policy can get a discount on all vehicles.
- Clubs and Organizations – Participating in specific professional or occupational memberships or organizations can get you a small discount on your next renewal.
- Discount for Passive Restraints – Options like air bags can qualify for discounts of 25 to 30%.
- Own a Home and Save – Owning a house in Phoenix may trigger a policy discount on car insurance because of the fact that having a home requires personal responsibility.
- First Accident Forgiveness – Not necessarily a discount, but some companies like GEICO, State Farm, and Progressive will allow you to have one accident before hitting you with a surcharge if you have no claims for a set time period.
- Buy New and Save – Insuring a new IS 250 can cost up to 25% less since newer models have better safety ratings.
- Driver Training Discounts – Taking a class that teaches driver safety techniques could save 5% or more and also improve your driving technique.
It’s important to understand that most discount credits are not given to the entire cost. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though you would think you can get free auto insurance, companies don’t profit that way. But any discount will cut the premium cost.
A few companies that may offer policyholders most of the discounts above may include but are not limited to:
Check with all companies you are considering how you can save money. All car insurance discounts may not be offered in your area. To see insurers who offer cheap Lexus IS 250 insurance quotes in Arizona, follow this link.
Learn How to Lower Your Insurance Prices
An important part of buying insurance is that you know a few of the rating criteria that go into determining the level of your policy premiums. If you have some idea of what controls the rates you pay, this allows you to make good choices that could result in better auto insurance rates. Many factors are used in the calculation when you get a price on insurance. Most are fairly basic such as traffic violations, although some other factors are less obvious such as your credit history or your vehicle rating.
The items below are a partial list of the pieces used by insurance companies to determine your prices.
- Safer vehicles means cheaper insurance – Vehicles with high crash test scores get lower rates. Highly rated vehicles help reduce the chance of injuries in an accident and fewer serious injuries translates into savings for insurance companies and thus lower rates.
- Getting married brings a discount – Getting married may save some money on your auto insurance policy. Having a significant other is viewed as being more responsible and it’s statistically proven that drivers who are married are more cautious.
- The type of car you drive affects your costs – The make and model of the car or truck you need insurance for makes a significant difference in determining your rates. The cheapest insurance rates are generally reserved for lower cost passenger cars, but that’s not the only thing that factors into the final price. Since the Lexus IS 250 is a luxury sports car, insuring your vehicle will cost up to twice as much when compared to the average rates in Phoenix.
- Insurance companies don’t like frequent insurance claims – If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Auto insurance companies in Arizona give discounts to people who do not rely on their insurance for small claims. Your insurance policy is designed for larger claims.
- Compare rates if you combine your policies – Most major companies will give a discount for people who have multiple policies with them. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even if you qualify for this discount already, consumers should still compare other Phoenix IS 250 insurance rates to ensure the best deal. You may still be able to save even more by buying insurance from more than one company.
- Expect high rates for teens – More experienced drivers are more responsible, cause fewer claims and accidents, and tend to be get fewer driving tickets.Inexperience drivers are proven to be less responsible in a vehicle and because of this, their auto insurance rates are much higher.
- Pay more of a claim out-of-pocket – The deductibles you choose define the amount you are willing to pay if you file a covered claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of claims that would be covered are collision with another vehicle, animal collisions, or theft of your vehicle. The more money you pay before a claim is paid (deductible), the less your company will charge you for insurance.
- Higher premiums for high stress vocations – Did you know your job can affect your rates? Occupational choices like fire fighters, architects and emergency personnel usually pay higher average rates because of stressful work requirements and lots of time spent away from family. Conversely, jobs like actors, historians and the unemployed generally pay rates lower than average.
- Insurance loss data for a Lexus IS 250 – Insurers use past insurance losses to help determine prices. Vehicles that statistically have a trend towards higher claims will have increased rates.
The next table illustrates the insurance loss data used by companies for Lexus IS 250 vehicles. For each policy coverage, the loss probability for all vehicles, regardless of make or model, is set at 100. Percentages below 100 imply a favorable loss record, while numbers above 100 indicate a higher chance of having a claim or larger claims.
Auto Insurance Loss Data for Lexus IS 250 Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus IS 250 4dr 2WD 179 103 177 116 146 115 Lexus IS 250 4dr 4WD 177 87 186 118 Lexus IS 250 Convertible 135 80 84
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Exclusive versus independent car insurance agents
A small number of people still prefer to buy from a local agent and that is just fine! A good thing about comparing rates online is you may find lower prices but still work with a licensed agent.
After completing this simple form, your information is emailed to local insurance agents who will give you bids for your car insurance coverage. You won’t even need to contact any insurance agencies since rate quotes are delivered instantly to you. Get lower rates without having to waste a lot of time. If for some reason you want to get a rate quote from one company in particular, you would need to jump over to their website and give them your coverage information.
Picking an insurance company requires you to look at more than just a cheap quote. These are valid questions to ask:
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Do they get extra compensation for selling add-on coverages?
- If you have an accident, will your rates go up?
- Are claims handled at the agent’s location?
- Do they specialize in personal lines coverage in Phoenix?
- Which family members are covered?
Compare rates from both independent and exclusive car insurance agents
When looking for a local Phoenix insurance agency, it helps to know the two different agency structures to choose from. Car insurance agents are either exclusive or independent.
Exclusive Insurance Agencies
Agents that choose to be exclusive can usually just insure with one company and some examples include State Farm or Allstate. Exclusive agents are unable to provide prices from multiple companies so keep that in mind. Exclusive insurance agents receive a lot of sales training on their company’s products which helps overcome the inability to quote other rates. Some people will only purchase coverage from exclusives mostly because of the brand rather than having low rates.
Listed below are Phoenix exclusive insurance agencies that are able to give price quote information.
- Severiano Torres III – State Farm Insurance Agent
1820 N 75th Ave #106 – Phoenix, AZ 85035 – (623) 846-0240 – View Map
- Susan Cox – State Farm Insurance Agent
2715 W Northern Ave #110 – Phoenix, AZ 85051 – (602) 995-2821 – View Map
- Andra Jeffress – State Farm Insurance Agent
1704 W Bethany Home Rd – Phoenix, AZ 85015 – (602) 249-1037 – View Map
Independent Car Insurance Agents
Agents that elect to be independent are normally appointed by many insurers so they can insure your vehicles with a variety of different insurance companies and find the cheapest rate. If your agent finds better pricing, the business is moved internally and you don’t have to switch agencies.
When searching for an agent, it’s recommended you check rates from at least one independent agent to have the most options to choose from. Many write coverage with additional companies that you may not be familiar with that can offer cheaper rates than bigger companies.
The following are independent agencies in Phoenix that are able to give price quote information.
- Independent Insurance Agents
333 E Flower St – Phoenix, AZ 85012 – (602) 956-1851 – View Map
- Best Buy Insurance
3917 S Central Ave – Phoenix, AZ 85040 – (602) 268-2548 – View Map
- Farmer-Leavitt Insurance Agency
919 N 1st St – Phoenix, AZ 85004 – (602) 264-0566 – View Map
Persistence will pay off
When getting Phoenix car insurance quotes online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are a lot of situations where an accident victim reduced liability limits or collision coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The goal is to buy the best coverage you can find at an affordable rate and still be able to protect your assets.
A few companies don’t offer online quoting and usually these smaller companies work with independent agents. Lower-priced insurance in Phoenix can be found on the web and also from your neighborhood Phoenix agents, so you should be comparing quotes from both in order to have the best price selection to choose from.
People leave their current company for a variety of reasons including policy non-renewal, being labeled a high risk driver, delays in paying claims or even an unsatisfactory settlement offer. Regardless of your reason for switching companies, choosing a new company is easier than you think.
More information can be read at the links below
- What to do at the Scene of an Accident (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a Honda Civic in Phoenix? (FAQ)
- Who Has Affordable Auto Insurance for 18 Year Olds in Phoenix? (FAQ)
- Who Has the Cheapest Car Insurance for Handicapped Drivers in Phoenix? (FAQ)
- Who Has Cheap Phoenix Auto Insurance Quotes for Homeowners? (FAQ)
- All About Airbag Safety (State Farm)
- Property Damage Coverage (Liberty Mutual)
- Shopping for a Safe Car (Insurance Information Institute)