How to Compare Oklahoma City Lexus GS 350 Insurance

It takes a little time, but the best way to get more affordable Lexus GS 350 insurance in Oklahoma City is to compare prices once a year from insurers who can sell car insurance in Oklahoma. You can compare rates by following these guidelines.

  1. Learn about auto insurance and the measures you can take to keep rates low. Many rating factors that result in higher rates like tickets, at-fault accidents, and a lousy credit rating can be amended by making minor driving habit or lifestyle changes.
  2. Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO or Allstate, while agents who are independent can provide prices from many different companies.
  3. Compare the price quotes to your current policy premium and see if you can save money. If you find a lower rate quote and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
  4. Give proper notification to your current agent or company of your decision to cancel your current auto insurance policy. Submit payment along with a signed and completed policy application to your new agent or company. As soon as coverage is bound, place the new proof of insurance certificate with your registration paperwork.

A tip to remember is to make sure you enter the same level of coverage on each quote and and to get price estimates from as many different companies as possible. Doing this provides a fair price comparison and maximum price selection.

Discount Lexus GS 350 insuranceIt’s safe to assume that insurance companies don’t want you to compare rates. Drivers who compare rates annually are highly likely to move their business because they have good chances of finding a lower rate. A recent survey discovered that drivers who compared prices once a year saved about $865 annually as compared to drivers who never shopped for cheaper rates.

If saving the most money on car insurance in Oklahoma City is your target objective, then having some insight into how to get rate quotes and compare insurance can make the process more efficient.

If you currently have a car insurance policy, you will surely be able to shop for the lowest rates using these techniques. Buying the cheapest car insurance in Oklahoma City is much easier if you know where to start. Although Oklahoma car owners must know the way companies calculate your policy premium and use it to find better rates.

Buy Oklahoma City Lexus GS 350 insurance online

Just remember that making a lot of price comparisons helps you find a better price.

The companies in the list below can provide price quotes in Oklahoma City, OK. If several companies are displayed, we recommend you visit several of them to get the most affordable price.

Discounts for cheaper car insurance quotes

Car insurance is easily one of your largest bills, but companies offer discounts to cut the cost considerably. Some trigger automatically at the time of quoting, but a few need to be manually applied before they will apply. If you do not check that you are getting every discount possible, you are throwing money away.Discount car insurance

Keep in mind that some of the credits will not apply to the overall cost of the policy. A few only apply to the cost of specific coverages such as comp or med pay. Even though the math looks like adding up those discounts means a free policy, insurance companies wouldn’t stay in business.

The illustration below illustrates the comparison of Lexus GS 350 car insurance rates with and without discounts applied to the policy rates. The costs are based on a male driver, a clean driving record, no claims, Oklahoma state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, marriage, claim-free, and multi-policy discounts applied.

Some of the larger companies that may offer quotes with many of the previously listed discounts include:

When getting free Oklahoma City car insurance quotes, it’s a good idea to every insurance company which credits you are entitled to. Some discounts may not be available in Oklahoma City. If you would like to view insurance companies with significant discounts in Oklahoma, click this link.

Data for Lexus GS 350 insurance

The price information below outlines a range of insurance rates for Lexus GS 350 models. Having insight into how rate quotes are figured is important for you to make decisions when shopping around.

Lexus GS 350 Insurance Rates in Oklahoma City, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $476 $1088 $462 $28 $138 $2,192 $183
GS 350 AWD $524 $1230 $462 $28 $138 $2,382 $199
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Price estimates do not factor in specific location information which can raise or lower coverage rates greatly.

Policy deductible comparison

One of the most common car insurance questions is which deductible level should you buy. The comparisons below show the costs and benefits when you buy lower versus higher insurance deductibles. The first pricing table uses a $100 deductible for comp and collision and the second rate table uses a $500 deductible.

Lexus GS 350 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $486 $946 $382 $22 $114 $1,975 $165
GS 350 AWD $536 $1070 $382 $22 $114 $2,149 $179
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Lexus GS 350 insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 350 $354 $638 $382 $22 $114 $1,510 $126
GS 350 AWD $390 $722 $382 $22 $114 $1,630 $136
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Rate information does not factor in specific garaging location which can lower or raise rates substantially.

Based on the data above, we can derive that using a $100 deductible costs an average of $41 more each month or $492 annually than opting for the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 10 months between claim filings, you would probably come out ahead if you opt for a higher deductible.

The chart below demonstrates how deductibles and can impact Lexus GS 350 premium costs for different age groups. The premium estimates are based on a single male driver, full coverage, and no policy discounts are applied.

Tickets and at-fault accidents raise rates

The diagram below shows how violations and accident claims impact Lexus GS 350 car insurance rates for different age groups of insureds. The information is based on a married male driver, comp and collision included, $100 deductibles, and no discounts are applied.

Rate comparison of full coverage and liability-only

The diagram below visualizes the comparison of Lexus GS 350 car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Oklahoma. The prices are based on no tickets, no at-fault accidents, $500 deductibles, single status, and no other discounts are factored in.

Deciding between full coverage and liability only

There is no set guideline to stop paying for physical damage insurance, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s say your Lexus GS 350 claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $4,000 after paying the physical damage deductible. If it’s costing you more than $400 a year to have full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where dropping full coverage is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Learn How to Lower Your Insurance Premiums

Part of the car insurance buying process is learning a few of the rating criteria that go into determining your policy premiums. If you have a feel for what determines premiums, this allows you to make good choices that will entitle you to lower rates. Many factors are considered when pricing auto insurance. Most are fairly basic like an MVR report, although some other factors are less apparent such as whether you are married or your financial responsibility.

The itemized list below are some of the factors car insurance companies consider when setting premiums.

High credit score translates to low rates – An insured’s credit history can be an important factor in calculating your premium rate. Therefore, if your credit can use some improvement, you could be paying less to insure your Lexus GS 350 if you clean up your credit. Drivers with excellent credit scores tend to be better drivers and file fewer claims than those with poor credit scores.

Driver age impacts rates – Youthful drivers in Oklahoma are statistically shown to be inattentive and easily distracted when at the wheel of a vehicle and because of this, their car insurance rates are much higher. More mature drivers tend to be more responsible, file fewer claims, and are safer drivers.

The data below uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Car and home together may be cheaper – Most insurance companies apply lower prices for people who buy several policies from them. It’s known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to comparison shop to guarantee you are still saving the most.

Liability insurance safeguards assets – Your policy’s liability coverage provides coverage if ever you are ruled to be at fault for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so do not cut corners here.

Save money by raising physical damage deductibles – The deductibles you choose are how much you are willing to pay before your car insurance pays a claim. Physical damage coverage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims are a windshield broken by a bird, animal collisions, and having a roll-over accident. The more the insured is willing to pay, the less your car insurance will be.

Insurance loss data for Lexus GS 350 vehicles – Companies analyze historical claim data to help determine the rate you pay. Models that are shown to have increased claim numbers or amounts will cost more to insure. The table below demonstrates the compiled insurance loss statistics for Lexus GS 350 vehicles.

For each policy coverage type, the claim probability for all vehicles combined as an average is set at 100. Numbers below 100 suggest a better than average loss history, while values over 100 show a trend for more claims or an increased chance of a larger loss.

Auto Insurance Loss Data for Lexus GS 350 Models
Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus GS 350 4dr 2WD 160 78 190 81 107 79
Lexus GS 350 4dr 4WD 169 90 217 91 85 68

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