Auto Insurance Rate Quotes for a Lexus ES 350 in Oklahoma City

Insurance quote for Lexus ES 350 in Oklahoma CityThe most effective way to get cheaper car insurance rates in Oklahoma City is to compare prices once a year from different companies who sell insurance in Oklahoma.

First, spend a few minutes and learn about auto insurance and the changes you can make to prevent rate increases. Many policy risk factors that result in higher prices such as at-fault accidents, speeding tickets, and a not-so-good credit score can be rectified by making minor changes to your lifestyle. Continue reading for more information to get cheaper coverage and find overlooked discounts.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or Farmers Insurance, while independent agencies can provide price quotes from multiple companies.

Third, compare the price quotes to your current policy premium to see if you can save by switching companies. If you find a better price and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

An important part of this process is to compare identical coverages on every price quote and and to analyze as many companies as feasibly possible. This enables an accurate price comparison and the most accurate and complete price analysis.

It’s astonishing, but most insurance policyholders renewed their policy with the same company for at least the last four years, and approximately 40% of consumers have never shopped around. With the average insurance premium being $1,777, Oklahoma City drivers could save themselves about 35% a year, but they just assume it’s a time-consuming process to compare rate quotes online.

Which Lexus ES 350 insurance is cheapest in Oklahoma City, OK?

To get the cheapest Lexus ES 350 rate quotes, there a variety of ways to obtain and compare prices from many available auto insurance companies in Oklahoma. The fastest way to compare rates involves getting comparison quotes online.

Comparison shopping price quotes online is easy and it makes it obsolete to make phone calls or go to insurance agents’ offices. Buying insurance online makes this unnecessary unless you require the professional guidance that only a licensed agent can provide. Drivers can get the lowest quotes online but still have the advice of a local agent.

When comparing auto insurance rates, know that more quotes will improve the odds of getting the best offered rates.

The companies shown below have been selected to offer price quotes in Oklahoma. If the list has multiple companies, we suggest you click on several of them in order to find the lowest rates.

Insurance coverage details

The data table displayed next outlines a range of insurance policy prices for Lexus ES 350 models. Learning how car insurance prices are figured is important to be able to make informed decisions.

Lexus ES 350 Insurance Rates in Oklahoma City, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $470 $926 $388 $24 $116 $1,924 $160
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Prices do not factor in specific garaging location which can raise or lower premium rates noticeably.

An analysis of deductible level

One frequently asked question is at what level do you set your deductibles. The rates below can help illustrate the cost difference between high and low physical damage deductibles. The first price estimate table uses a $100 deductible for comprehensive and collision coverage and the second price table uses a $500 deductible.

Lexus ES 350 insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $486 $946 $382 $22 $114 $1,975 $165
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Lexus ES 350 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $354 $638 $382 $22 $114 $1,510 $126
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in your specific Oklahoma City location which can affect insurance rates substantially.

Based on the figures above, using a $100 deductible costs about $39 more each month or $468 each year averaged for all ES 350 models than opting for the higher $500 deductible. Since you would pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 10 months between claim filings, you would come out ahead going with the higher deductible. The illustration below shows an example of how you can make this decision for your own policy.

Average monthly premium for $100 deductibles: $165
Average monthly premium for $500 deductibles (subtract): – $126
Monthly savings from raising deductible: $39
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $39
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 10 months

Car insurance premiums by gender

The example below illustrates the difference between Lexus ES 350 insurance prices for male and female drivers. The premiums assume no violations or claims, comp and collision included, $500 deductibles, single status, and no other discounts are factored in.

Do you need full coverage?

The example below visualizes the comparison of Lexus ES 350 insurance costs with and without physical damage coverage. The information is based on no violations or claims, $250 deductibles, drivers are single, and no discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no clear-cut rule to exclude full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Lexus ES 350 book value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after the policy deductible has been paid. If premium cost is more than $600 annually for physical damage coverage, then it could be time to drop full coverage.

There are some conditions where removing full coverage is not a good idea. If you haven’t paid off your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not buy liability only.

How You Can Control Lexus ES 350 Insurance Rates

The best way to find cheaper insurance is to take a look at the different types of things that play a part in calculating the price you pay for insurance. If you have some idea of what controls the rates you pay, this allows you to make educated decisions that can help you get much lower annual insurance costs.

Choosing Lexus vehicle insurance is an important decision

Despite the fact that car insurance is not cheap in Oklahoma City, insuring your vehicle is not optional due to several reasons.

The benefits of having car insurance definitely exceed the price paid, particularly for liability claims. The average driver in America overpays as much as $865 each year so it’s very important to do a rate comparison every year to ensure rates are inline.