Car Insurance Rates for a Lexus GS 450h in Oklahoma City

Insurance quote for Lexus GS 450h in Oklahoma CityDo you want lower-priced Lexus GS 450h insurance in Oklahoma City? Having to pay for expensive Lexus GS 450h insurance in Oklahoma City can sap your budget and force you to tighten up your finances. Comparing price quotes is recommended to lower your bills every month.

Amazingly, the vast majority of drivers kept their coverage with the same auto insurance company for over three years, and just short of a majority have never shopped around. Oklahoma consumers could save almost 35% every year, but they don’t believe how much savings they would realize if they moved their coverage to a different company.

Steps to finding low-cost rates for Lexus GS 450h insurance in Oklahoma City

The best way to find cheaper prices for Lexus GS 450h insurance in Oklahoma City is to make a habit of comparing prices annually from insurers in Oklahoma.

One thing to remember is to try to compare similar coverage information on each quote request and and to get price estimates from as many car insurance companies as possible. This guarantees a fair rate comparison and plenty of rates choose from.

Due to the fact that there are so many companies to choose from that have affordable insurance for a Lexus GS 450h in Oklahoma City, it’s difficult to locate the most affordable insurance company.

To find the best car insurance quotes, there are several ways to compare prices from different Oklahoma City insurance companies. The fastest way to find affordable insurance rates involves getting comparison quotes online.

Doing online quotes comparisons is so easy that it takes the place of having to waste gas driving to local Oklahoma City insurance agencies. Comparing Lexus GS 450h insurance rate quotes online reduces the need to sit down with an agent unless you prefer the guidance that you can only get from talking to an agent. You can, however, compare online quotes and still use a local agent.

When comparing car insurance rates, know that making a lot of price comparisons will enable you to find more affordable insurance.

The companies shown below offer free rate quotes in Oklahoma City, OK. If multiple providers are shown, we suggest you visit several of them to get the best price comparison.

Insurance statistics and figures

The information displayed below showcases detailed analysis of coverage costs for Lexus GS 450h models. Learning how auto insurance prices are figured can benefit drivers when making smart choices when comparing insurance rates.

Lexus GS 450h Insurance Rates in Oklahoma City, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $514 $1208 $584 $34 $174 $2,514 $210
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Premium costs do not factor in specific location information which can decrease or increase prices noticeably.

Policy deductibles

One of the more difficult decisions when buying insurance is which comprehensive and collision deductibles to buy. The tables below may help to illustrate the rate differences between low and high policy deductibles. The first set of prices uses a $100 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.

Lexus GS 450h insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $536 $1070 $448 $26 $134 $2,239 $187
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Lexus GS 450h insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $296 $564 $448 $26 $134 $1,468 $122
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price estimates do not factor in specific location information which can decrease or increase coverage rates greatly.

Using the premium rates above, we can conclude that using a $100 deductible will cost you approximately $65 more each month or $780 annually averaged for all GS 450h models than buying the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you go at a minimum 14 months between claim filings, you would more than likely save some money if you elect the higher deductible.

Calculate deductible break even point

Average monthly premium for $100 deductibles: $187
Average monthly premium for $1,000 deductibles (subtract): – $122
Monthly savings from raising deductible: $65
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $65
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One big caveat is that increasing deductibles to save money means you will have to pay more out-of-pocket when you have a claim. It will be required that you have some extra savings in order to pay the deductible for vehicle repair.

Tickets and at-fault accidents raise rates

The chart below highlights how speeding tickets and at-fault fender-benders increase Lexus GS 450h car insurance costs for different categories of driver ages. The price estimates are based on a married female driver, full coverage, $100 deductibles, and no policy discounts are applied.

Insurance premiums based on gender

The chart below shows the difference between Lexus GS 450h car insurance rates for male and female drivers. The premiums assume a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, marital status is single, and no policy discounts are applied.

Full coverage rates compared to liability-only

The information below illustrates the comparison of Lexus GS 450h insurance prices with and without physical damage coverage. The data assumes no claims or violations, $1,000 deductibles, marital status is single, and no discounts are factored in.

When to drop comprehensive and collision coverage

There is no specific rule to drop full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.

For example, let’s pretend your Lexus GS 450h replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $8,000 after the deductible is paid. If premiums are more than $800 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.

There are some situations where dropping full coverage is not advised. If you still owe a portion of the original loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Protect your vehicle and other assets

Even though Oklahoma City GS 450h insurance rates can get expensive, insurance may not be optional for several reasons.

The benefits of buying insurance greatly outweigh the cost, especially for larger claims. Unknowingly, the average driver overpays as much as $800 each year so it’s very important to do a rate comparison every year to help ensure money is not being wasted.

Educate yourself about auto insurance coverages

Learning about specific coverages of a auto insurance policy can help you determine which coverages you need for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages found on most auto insurance policies.

Collision protection

Collision coverage pays for damage to your GS 450h caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things like driving through your garage door, damaging your car on a curb, colliding with a tree and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. You can also raise the deductible on your GS 450h in order to get cheaper collision rates.

Medical expense insurance

Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for prosthetic devices, chiropractic care and X-ray expenses. They can be used to fill the gap from your health insurance program or if you lack health insurance entirely. They cover all vehicle occupants as well as any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Protection from uninsured/underinsured drivers

This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Lexus GS 450h.

Since many Oklahoma drivers only purchase the least amount of liability that is required (which is 25/50/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive (Other than Collision)

Comprehensive insurance covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like a tree branch falling on your vehicle, falling objects and damage from getting keyed. The most you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Liability insurance

This coverage provides protection from damages or injuries you inflict on a person or their property. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/25 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers claims such as medical expenses, medical services, emergency aid, structural damage and funeral expenses. How much liability should you purchase? That is your choice, but consider buying as much as you can afford. Oklahoma state law requires minimum liability limits of 25/50/25 but you should think about purchasing better liability coverage.

The chart below demonstrates why buying low liability limits may not be high enough to cover claims.

How to find a good Oklahoma car insurance company

Choosing the highest-rated auto insurance company can be difficult considering how many companies there are in Oklahoma City. The company information listed below may help you choose which companies to look at when shopping around.

Top 10 Oklahoma City Car Insurance Companies by A.M. Best Rank

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Titan Insurance – A+
  6. Esurance – A+
  7. Progressive – A+
  8. The Hartford – A+
  9. Allstate – A+
  10. Nationwide – A+

Top 10 Oklahoma City 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