Best Lexus RX 350 Insurance in Arlington

Discount Lexus RX 350 insuranceAstonishing but true, the vast majority of Texas insurance customers renewed their policy with the same company for well over three years, and approximately 40% of consumers have never even compared rates from other companies. American drivers could save about $860 each year, but they just don’t want to compare other rate quotes.

If you want to save the most money, the best way to find affordable quotes for car insurance rates in Arlington is to compare prices regularly from providers who provide car insurance in Texas.

One key aspect of rate comparisons is to compare the same physical damage deductibles and liability limits on every quote request and and to get price estimates from as many car insurance companies as possible. This enables a fair rate comparison and a complete price analysis.

If you have a policy now, you will definitely be able to get lower rates using the techniques presented in this article. Getting quotes for cheaper auto insurance policy in Arlington is not as hard as you may think. Nevertheless, Texas consumers should learn how companies charge you for coverage because rates are impacted by many factors.

Learn How to Lower Your Insurance Rates

Multiple criteria are used when quoting car insurance. Most are fairly basic such as traffic violations, but some are not as apparent like your continuous coverage or how financially stable you are. Part of the insurance buying process is learning some of the things that play a part in calculating your policy premiums. If you understand what influences your rates, this empowers consumers to make smart changes that may result in lower rates.

The list below includes a partial list of the pieces that factor into premiums.

Pay more of a claim out-of-pocket – Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your Lexus from damage. A few examples of covered claims are a broken windshield, collision with an animal, and rolling your vehicle. Your deductibles tell how much you are willing to pay in the event of a claim. The more money you pay before a claim is paid (deductible), the less your company will charge you for insurance.

Annual mileage impacts prices – The more miles you rack up on your Lexus in a year the more it will cost to insure it. Almost all companies charge to insure your cars based upon how the vehicle is primarily used. Vehicles used primarily for pleasure use receive better premium rates than vehicles that are driven to work every day. It’s always a good idea to double check that your insurance policy reflects the correct driver usage, because improper ratings can cost you money. A policy that improperly rates your RX 350 may be costing you.

A car insurance policy lapse is a bad thing – Not having insurance is a big no-no and any future policy may cost more because you let your coverage cancel without a new policy in place. In addition to paying higher premiums, not being able to provide proof of insurance could result in fines and jail time.

Responsible credit scores equal low costs – Having a bad credit score can be a huge factor in calculating your premium rate. Consumers who have high credit ratings tend to be more responsible than those with poor credit scores. Therefore, if your credit score leaves room for improvement, you may save money insuring your Lexus RX 350 if you clean up your credit.

Lexus RX 350 insurance loss data – Car insurance companies use statistical claims data when they calculate premium costs for each model. Models that have high amounts or severity of claims will have a higher cost to insure.

The next table illustrates the historical insurance loss data for Lexus RX 350 vehicles. For each coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is set at 100. Values that are below 100 suggest a positive loss record, while numbers above 100 point to more frequent losses or an increased chance of larger losses than average.

Car Insurance Loss Data for Lexus RX 350 Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus RX 350 4dr 2WD 111 96 91 72 97 88
Lexus RX 350 4dr 4WD 122 99 112 83 75 78

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Lexus RX 350 insurance rates and statistics

The rate information displayed below outlines estimates of insurance rates for Lexus RX 350 models. Having a better idea how insurance policy premiums are calculated is important for drivers to make decisions on which insurance to purchase.

Lexus RX 350 Insurance Rates in Arlington, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX 350 2WD $318 $666 $404 $24 $122 $1,534 $128
RX 350 4WD $318 $666 $404 $24 $122 $1,534 $128
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Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific Arlington garaging location which can revise coverage rates substantially.

Higher deductibles lower rates

One of the most common car insurance questions is how low should you set your deductibles. The data tables below can help you visualize the costs and benefits between high and low physical damage deductibles. The first set of prices uses a $100 deductible for comp and collision and the second price grid uses a $500 deductible.

Lexus RX 350 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX 350 2WD $412 $804 $430 $26 $128 $1,825 $152
RX 350 4WD $412 $804 $430 $26 $128 $1,825 $152
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Lexus RX 350 insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RX 350 2WD $300 $542 $430 $26 $128 $1,426 $119
RX 350 4WD $300 $542 $430 $26 $128 $1,426 $119
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Premium amounts do not factor in zip code location which can affect rates significantly.

We can derive from the above data that using a $100 deductible costs about $33 more each month or $396 annually across all Lexus RX 350 models than selecting the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you go more than 12 months between claims, you would save money going with the higher deductible. The table below shows a better example of how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $152
Average monthly premium for $500 deductibles (subtract): – $119
Monthly savings from raising deductible: $33
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One important note is that higher deductibles results in more money out-of-pocket at claim time. You need enough money stashed away in the event you need to pay the deductible for vehicle repair.

Rate increases following a ticket or accident

The example below shows how speeding tickets and accident claims can influence Lexus RX 350 premium costs for different age groups. The premium estimates are based on a single male driver, comp and collision included, $500 deductibles, and no other discounts are factored in.

Age-based car insurance rates by gender

The chart below illustrates the comparison of Lexus RX 350 insurance prices for male and female drivers. The information is based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, single status, and no discounts are factored in.

Full coverage or liability only

The chart below shows the difference between Lexus RX 350 car insurance costs with and without physical damage coverage. The premiums are based on no violations or accidents, $100 deductibles, single marital status, and no policy discounts are applied.

Guidelines for dropping full coverage

There is no exact rule to drop comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let’s assume your Lexus RX 350 replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after the deductible is paid. If it’s costing in excess of $500 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some situations where only buying liability is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.

Arlington insurance discounts for a Lexus RX 350

Some companies don’t always publicize every available discount very clearly, so we break down a few of the more well known and the more hidden credits that may apply to you.Save money with discounts

It’s important to note that most credits do not apply to the entire policy premium. Most only apply to the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

The diagram below shows the comparison of Lexus RX 350 premium costs with and without discounts applied to the policy rates. The premiums assume a female driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-car, multi-policy, marriage, and homeowner discounts applied.

Larger insurance companies and some of their more popular discounts are detailed below.

Before you buy a policy, ask all companies you are considering which discounts you may be entitled to. A few discounts may not apply to policies in Arlington.

Arlington car insurance companies

Insuring your vehicle with the right car insurance company can be challenging considering how many different companies sell coverage in Texas. The company rank data shown next can help you decide which car insurance companies you want to consider comparing rates from.

Top 10 Arlington Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Arlington Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Lower rates by being persistent

When trying to cut insurance costs, it’s very important that you do not skimp on coverage in order to save money. There have been many cases where someone dropped collision coverage to discover at claim time that the few dollars in savings costed them thousands. Your aim should be to buy the best coverage you can find at the best cost while still protecting your assets.

Affordable Lexus RX 350 insurance in Arlington can be bought from both online companies and from local insurance agents, so you should be comparing quotes from both to have the best selection. Some insurance providers do not offer rates over the internet and usually these smaller companies only sell through local independent agents.

We covered some good ideas how you can find affordable Lexus RX 350 insurance in Arlington. The key thing to remember is the more you quote Arlington car insurance, the more likely it is that you will get a better rate. Consumers may even find the lowest prices come from a company that doesn’t do a lot of advertising.

Much more information about car insurance in Texas is available at the links below