Searching for the cheapest insurance for your Lexus GS 450h in Texas can turn out to be an all-consuming task, but you can use our auto insurance buying tips to make it easier.
There is a better way to find auto insurance online so we’re going to tell you the absolute fastest way to price shop coverage for your Lexus and find the lowest possible price from Austin insurance agents and online providers.
A study showed that nearly 70% of Texas drivers renewed their policy with the same company for well over three years, and practically 40% of auto insurance customers have never quoted auto insurance rates at all. Drivers in America can cut their rates by 46.5% a year, but they mistakenly think it’s difficult to compare rates.
You should take the time to get comparison quotes every six months since insurance prices trend upward over time. Even if you got the lowest quotes on Lexus GS 450h insurance in Austin six months ago other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because we’re going to demonstrate the right way to find great coverage at a great price.
Low-cost companies for Lexus GS 450h insurance in Texas
The following companies offer quotes in Texas. If multiple companies are listed, it’s highly recommended you click on several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|GS 450H Hybrid||$256||$510||$358||$22||$108||$1,254||$105|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Estimates do not factor in zip code location which can modify auto insurance rates significantly.
Full coverage versus liability-only
The diagram below shows the difference between Lexus GS 450h premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. Data assumes no claims or driving citations, $100 deductibles, married male driver, and no additional discounts are factored in.
Should you be buying full coverage?
There is no specific rule to exclude physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Lexus GS 450h settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after the policy deductible has been paid. If you are paying in excess of $400 annually for physical damage coverage, then it may be the right time to buy liability only.
There are some cases where dropping full coverage is not a good plan. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Auto insurance deductibles
The illustration below demonstrates how deductibles and can impact Lexus GS 450h annual premium costs for different insured age categories. The price estimates are based on a married male driver, comp and collision included, and no discounts are applied.
Seven Things That Determine Your Insurance Costs
Lots of factors are considered when premium rates are determined. Some factors are common sense such as your driving history, but some are less obvious like where you live or how financially stable you are.
The list below includes a few of the things used by companies to determine prices.
Safety first – Cars with five star safety ratings can get you lower premiums. Safer cars protect occupants better and fewer serious injuries translates into savings for insurance companies and more competitive rates for policyholders.
Limits of liability protection – The liability section of your policy will protect you if you are found to be at fault for causing damage or personal injury in an accident. Liability provides legal defense coverage starting from day one. Liability insurance is pretty cheap compared to comp and collision, so drivers should carry high limits.
Your credit history is important – A driver’s credit history is likely to be a major factor in calculating your premium rate. If your credit rating is not that good, you could potentially save money when insuring your Lexus GS 450h by improving your credit score. Insureds that have high credit ratings tend to file fewer claims and have better driving records than drivers who have poor credit.
Pay more out-of-pocket – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, helps pay for damage to your vehicle. Some coverage claims are running into the backend of another car, hitting a deer, and having your car stolen. Deductibles for physical damage state the amount of money you are willing to pay if you file a covered claim. The more of the claim you’re willing to pay, the bigger discount you will receive.
Cheaper rates for prior coverage – Not having insurance can get you a ticket and any future policy may cost more because you let your insurance expire. Not only will rates go up, failure to provide proof of insurance may earn you a revoked license or a big fine.
Costs and your address – Choosing to live in a small town is a positive aspect when talking about insurance. Fewer drivers and short commutes means a lower chance of having an accident. Urban drivers have to deal with more road rage incidents and longer commutes to work. More time commuting means more chances of being involved in an auto accident.
High performance vehicles cost more to insure – The performance level of the car you are insuring makes a significant difference in your premium level. Because the Lexus GS 450h falls in the luxury sedan class, insuring your vehicle will cost more compared to average rates in Austin. Lower cost passenger cars normally have pretty low rates, but that’s not the only thing that factors into the final price.
Insurance loss statistics a Lexus GS 450h – Companies use past insurance losses to help determine costs. Models that the statistics show to have higher prevalence or dollar amount of losses will have higher rates.
The table below demonstrates the insurance loss data for Lexus GS 450h vehicles. For each policy coverage, the claim amount for all vehicles, regardless of make, model or trim level, equals 100. Values that are below 100 imply a favorable loss record, while values over 100 indicate more frequent losses or statistically larger losses.
Auto Insurance Loss Data for Lexus GS 450h Models
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus GS 450h Hybrid 4dr||208||250|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
These discounts can slash Lexus GS 450h insurance rates
Companies offering auto insurance don’t always advertise all possible discounts in an easy-to-find place, so the list below gives a summary of some of the best known in addition to some of the lesser obvious credits that may apply to you.
- Theft Deterrent Discount – Cars and trucks with anti-theft systems are stolen less frequently so companies will give you a small discount.
- Accident-Free Discounts – Drivers who don’t have accidents pay less as opposed to bad drivers.
- Auto/Home Discount – If you insure your home and vehicles with the same company you may save over 10 percent off each policy depending on the company.
- Employee of Federal Government – Federal government employees may reduce rates when you quote Austin car insurance depending on your company.
- Defensive Driving Course – Passing a defensive driver course may get you a small discount and easily recoup the cost of the course.
- 55 and Retired – Drivers that qualify as senior citizens may qualify for a slight reduction on a Austin car insurance quote.
Keep in mind that some of the credits will not apply to the entire cost. Most only cut specific coverage prices like liability and collision coverage. Just because you may think having all the discounts means you get insurance for free, companies wouldn’t make money that way.
A list of companies and some of the premium reductions they offer can be found below.
- State Farm policyholders can earn discounts including good student, driver’s education, accident-free, multiple policy, and defensive driving training.
- Liberty Mutual has discounts for teen driver discount, newly retired, new vehicle discount, newly married, new graduate, hybrid vehicle, and preferred payment discount.
- American Family offers discounts including multi-vehicle, TimeAway discount, good student, accident-free, Steer into Savings, and early bird.
- Progressive offers premium reductions for multi-policy, online quote discount, homeowner, continuous coverage, multi-vehicle, and good student.
- Farmers Insurance includes discounts for business and professional, alternative fuel, distant student, mature driver, homeowner, youthful driver, and multi-car.
- Auto-Owners Insurance may include discounts for teen driver, paid in full, company car, paperless, safe vehicle, anti-lock brakes, and group or association.
- SAFECO has savings for anti-lock brakes, bundle discounts, drive less, teen safety rewards, and homeowner.
When getting a coverage quote, ask all the companies to apply every possible discount. Depending on the company, some discounts might not be offered on policies everywhere. If you would like to see a list of insurers with the best discounts in Texas, click this link.
Compare prices but work with a local neighborhood Austin car insurance agent
Certain consumers still like to sit down with an agent and that is OK! Licensed agents are very good at helping people manage risk and help submit paperwork. A good thing about comparing rate quotes online is you can get cheap rate quotes and still buy from a local agent. Supporting local agents is important especially in Austin.
By using this short form, your insurance coverage information is immediately sent to insurance agents in Austin that can provide free Austin car insurance quotes for your car insurance coverage. It makes it easy because there is no need to visit any agencies because prices are sent directly to your email. If for some reason you want to get a rate quote from a particular provider, you can always search and find their rate quote page and fill out the quote form the provide.
Shown below are Austin car insurance companies that are able to give comparison quotes for Lexus GS 450h insurance in Austin.
- Eckert Insurance Group
824 W 10th St – Austin, TX 78701 – (512) 472-6969 – View Map
- J B Ruebsahm – State Farm Insurance Agent
1901 W William Cannon Dr #131 – Austin, TX 78745 – (512) 444-1845 – View Map
- Karen Easterling – State Farm Insurance Agent
2711 W Anderson Ln #201 – Austin, TX 78757 – (512) 454-4784 – View Map
- Herman Askew – State Farm Insurance Agent
13201 Pond Springs Rd #105 – Austin, TX 78729 – (512) 250-5533 – View Map
Choosing a company should depend on more than just the premium amount. These are some questions your agent should answer.
- Do the companies they represent have a solid financial rating?
- Does the agency have a good rating with the Better Business Bureau?
- If you have an accident, will your rates go up?
- Are there any discounts that you might be missing?
- Is working in the agency their full-time job?
- If they are an independent agency in Austin, which companies do they recommend?
Some car insurance companies may not provide online quoting and these regional insurance providers only sell through independent agencies. Discount Lexus GS 450h insurance can be sourced both online and from local agencies, so you need to compare both to have the best selection.
Consumers who switch companies do it for a number of reasons such as being labeled a high risk driver, policy non-renewal, high prices or extreme rates for teen drivers. No matter why you want to switch, switching car insurance companies can be pretty painless.
While you’re price shopping online, it’s very important that you do not sacrifice coverage to reduce premiums. In too many instances, someone dropped collision coverage only to discover later that the savings was not a smart move. Your focus should be to buy a smart amount of coverage at an affordable rate, but do not sacrifice coverage to save money.
Additional learning opportunities
- Prepare your Teens for Safe Driving (InsureUonline.org)
- How Much is Auto Insurance for a Honda Accord in Austin? (FAQ)
- Avoiding Deer Collisions (Insurance Information Institute)
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- What is a Telematics Device? (Allstate)