No one loves paying for car insurance, especially when their premiums are through the roof.
Amazlingly, a recent NerdWallet.com study showed that nearly 70% of consumers have remained with the same car insurance company for a minimum of four years, and nearly half have never compared rates to find cheap insurance. American consumers can save 46.5% each year by just comparing quotes, but they don’t want to take the time to find cheap car insurance rates. Insurance companies such as GEICO, 21st Century and Progressive constantly blast consumers with advertising and it can be hard to see through the cute green geckos and mayhem and find the best price available.
It’s important to compare premium rates on a regular basis since insurance prices change regularly. Even if you got the best deal on Lexus GX 460 insurance in Houston a few years ago you can probably find a lower rate today. There is a lot of bad advice regarding GX 460 insurance online, but in just a couple of minutes you can learn a lot of great tips on how to put money back in your pocket.
Best companies for Lexus GX 460 insurance
The providers in the list below provide quotes in Texas. If multiple companies are listed, we suggest you visit two to three different companies to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|GX 460 4WD 4-Dr||$360||$660||$388||$24||$116||$1,548||$129|
|GX 460 Premium 4WD 4-Dr||$466||$672||$500||$30||$150||$1,818||$152|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Premium costs do not factor in zip code location which can influence premium rates noticeably.
Cost of full coverage
The diagram below shows the difference between Lexus GX 460 auto insurance costs with full physical damage coverage compared to only buying liability only. The rates are based on no claims or driving citations, $100 deductibles, married male driver, and no discounts are applied.
When to stop buying comprehensive and collision coverage
There is no definitive formula to delete physical damage coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your Lexus GX 460 claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after paying your deductible. If you are paying in excess of $300 annually for physical damage coverage, then you may want to consider only buying liability coverage.
There are some cases where dropping physical damage coverage is not a good plan. 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 in the even your car is totaled, you should not remove full coverage.
Auto insurance rates are higher with tickets and accidents
The example below shows how speeding tickets and at-fault accidents can increase Lexus GX 460 car insurance costs for different age groups. The price estimates are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
You may qualify for discounts for Lexus GX 460 insurance in Houston
Insurance can be prohibitively expensive, but there could be significant discounts that you may not know about. Some discounts apply automatically at the time you complete a quote, but occasionally some discounts must be specially asked for prior to receiving the credit.
- Defensive Driving Course – Participating in a class that teaches driver safety techniques could save 5% or more and easily pay for the cost of the class.
- Seat Belt Usage – Requiring all passengers to buckle up can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
- Telematics Data Discounts – Houston drivers who agree to allow companies to analyze driving habits remotely such as State Farm’s In-Drive may see discounts as long as they are good drivers.
- Professional Memberships – Being in a professional or civic organization could earn you a nice discount on your policy.
- Resident Student – Kids who are enrolled in higher education away from home and do not have a car can receive lower rates.
- Passive Restraint Discount – Factory air bags and/or automatic seat belt systems may get savings of 20 to 30 percent.
- Claim Free – Drivers with accident-free driving histories pay less in comparison with accident-prone drivers.
- Driver’s Education for Students – Require your teen driver to successfully take a driver’s education course in school.
- Active Military Service – Having a family member in the military could be rewarded with lower prices.
Remember that some of the credits will not apply to the whole policy. Most cut specific coverage prices like medical payments or collision. Even though it may seem like you could get a free insurance policy, companies wouldn’t make money that way.
Some of the larger companies who may offer some of the above discounts include:
Before you buy a policy, ask every prospective company how many discounts you can get. Some credits may not apply to policyholders in your state. If you would like to view insurers who offer discounts in Texas, click here to view.
Seven factors that affect insurance prices
Part of the car insurance buying process is learning the different types of things that help determine car insurance rates. When you know what positively or negatively impacts premium levels, this allows you to make good choices that can help you get lower rates. Lots of things are used in the calculation when quoting car insurance. Some factors are common sense like a motor vehicle report, although some other factors are not as apparent such as your marital status and annual miles driven.
The items below are some of the items used by companies to determine your prices.
- Older drivers are lower risk – Mature drivers tend to be more responsible, are lower risk to insure, and tend to be get fewer driving tickets.Inexperience drivers are proven to be inattentive and easily distracted behind the wheel so car insurance rates are higher.
- Higher rates for specific vocations – Jobs like lawyers, social workers and accountants tend to pay higher rates than average due to stressful work requirements and lots of time spent away from family. On the flip side, occupations like scientists, engineers and the unemployed pay lower than average rates.
- Save by driving less – The more you drive every year the higher your rate. A lot of insurance companies calculate rates based on their usage. Cars and trucks that do not get driven very much get more affordable rates compared to those used for work or business. It’s always a good idea to double check that your declarations sheet properly reflects the correct usage for each vehicle, because it can save money. Having the wrong rating on your GX 460 may be costing you.
- Lower rates for vehicles with better crash test results – Safer cars get lower rates. Vehicles engineered for safety reduce occupant injuries and lower rates of occupant injuries means your insurance company pays less and lower rates for you. If your Lexus GX 460 has at least four stars on Safercar.gov you are probably receiving a discount.
- Drive a fast car and pay more – The performance of the car you are buying insurance for makes a huge difference in your auto insurance rates. Because the Lexus GX 460 is considered a luxury SUV, insurance will be substantially more in price as compared to the average rate in Houston. Smaller low performance passenger vehicles generally have the cheapest insurance rates, but many other things help determine your insurance rates.
- Save money with GPS tracking and theft deterrents – Selecting a car model with anti-theft technology or alarm system can save you a little every year. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop your vehicle from being stolen.
- Gender and insurance coverage premiums – Statistics demonstrate that females tend to be a little less risky than males. The data does not necessarily mean that females are better drivers. Males and females are responsible for at-fault accidents at about the same rate, but men cause more damage and cost insurance companies more money. Men also have more aggressive citations like reckless driving and DUI.
- Lexus GX 460 insurance loss statistics – Insurers take into consideration insurance loss statistics for every vehicle to determine a rate that will be profitable for them. Vehicles that historically have higher frequency or amount of claims will have a higher cost to insure.
The table below illustrates the insurance loss data used by companies for Lexus GX 460 vehicles. For each coverage category, the statistical loss for all vehicles, as an average, equals 100. Values that are under 100 imply a favorable loss record, while values that are above 100 show a trend for more claims or an increased chance of larger losses than average.
Insurance Loss Ratings for Lexus GX 460 Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus GX 460 4dr 4WD 97 100 125 63 52 63
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Will just any policy work for me?
When it comes to insurance from an agent or online for your vehicles, there really isn’t a single plan that fits everyone. Your needs are unique to you.
Here are some questions about coverages that may help highlight if your situation may require specific advice.
- What is the difference between personal and commercial auto insurance policies?
- Should I buy additional glass protection?
- Why am I required to get a high-risk car insurance policy?
- What are the liability requirements in my state?
- Is my teenager covered with friends in the car?
- Does medical payments coverage apply to all occupants?
- What is GAP insurance?
- Does having multiple vehicles earn me a discount?
If it’s difficult to answer those questions but a few of them apply then you might want to talk to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form. It’s fast, free and can provide invaluable advice.
You may want advice from an insurance agent
A small number of people still like to talk to an insurance agent and there is nothing wrong with that. Good agents can point out coverage gaps and help in the event of a claim. One of the benefits of comparing rate quotes online is that drivers can save money and get cheap rate quotes and also buy local. Buying from and supporting local agents is definitely important in Houston.
For easy comparison, once you complete this simple form, the coverage information is emailed to local insurance agents in Houston who will give you quotes for your insurance coverage. There is no reason to search for any insurance agencies since price quotes are sent directly to you. If you wish to compare rates from a particular provider, you would need to navigate to their website and fill out their quote form.
Below is a list of car insurance companies in Houston willing to provide comparison quotes for Lexus GX 460 insurance in Houston.
210 W Greens Rd # B – Houston, TX 77067 – (281) 872-6100 – View Map
Finding the right company should depend on more than just a cheap price quote. Here are some questions to ask:
- Is coverage determined by price?
- Are all drivers listed on the coverage quote?
- Are they paid to recommend certain coverages?
- Will a damage claim use OEM or aftermarket replacement parts?
- Can glass repairs be made at your home?
- Do they regularly work with personal auto policies in Houston?
- Do you need full coverage on every vehicle?
- Will high miles depreciate repair valuations?
Insurance in the media
Texas drivers can’t escape the ads that promise big savings from companies such as State Farm, GEICO and Progressive. All the companies advertise claims that drivers will save a bundle if you just switch your insurance policy to them.
How does every insurance company charge you less for car insurance? It’s all in the words they use.
Insurance providers have specific criteria for the type of customer that will be a good risk. One example of this type of driver might be described as a female over age 40, insures multiple vehicles, and drives a lower-performance vehicle. Any new insured who meets those qualifications will probably get the lowest prices and most likely will save some money.
Drivers who do not fit the “perfect” profile will be charged higher premiums and this results in the driver buying from a lower-cost company. If you listen to the ad wording, they say “customers who switch” but not “everyone who gets a quote” save that much when switching. That’s the way insurance companies can confidently advertise the savings.
That is why drivers must compare price quotes frequently. It’s impossible to know which insurance company will fit you best based on your risk profile.
Don’t give up on cheaper rates
We covered some good ideas how to reduce Lexus GX 460 insurance car insurance rates online in Houston. It’s most important to understand that the more companies you get premium rates for, the better likelihood of getting low cost Houston car insurance quotes. You may even discover the best car insurance rates are with an unexpected company.
When shopping online for auto insurance, you should never buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice collision coverage to discover at claim time that it was a big mistake. Your aim should be to purchase plenty of coverage at the best possible price.
Low-cost Lexus GX 460 insurance in Houston can be purchased online and with local Houston insurance agents, so get free Houston car insurance quotes from both of them to have the best chance of lowering rates. Some companies don’t offer rates over the internet and many times these small, regional companies only sell through local independent agencies.
To learn more, feel free to visit the articles below:
- Determing Auto Insurance Rates (GEICO)
- What Auto Insurance is Cheapest for a Jeep Wrangler in Houston? (FAQ)
- Who Has the Cheapest Car Insurance for Nurses in Houston? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Vehicle Insurance in the U.S. (Wikipedia)