Smart shoppers know that insurance companies don’t want you shop around. Drivers who shop rates annually will probably switch auto insurance companies because of the good chance of finding coverage at a more affordable price. A recent survey discovered that consumers who regularly compared price quotes saved as much as $850 each year compared to other drivers who don’t regularly compare prices.
If finding budget-friendly insurance is your goal, then learning about the best ways to shop for cheaper coverage can help make the process easier.
The preferred way to find discount Lexus LX 570 insurance is to start doing a yearly price comparison from providers that insure vehicles in Colorado Springs. Rate comparisons can be done by following these steps.
- First, try to comprehend how insurance works and the steps you can take to prevent rate increases. Many rating factors that drive up the price such as careless driving and an imperfect credit history can be controlled by making minor changes in your lifestyle. Keep reading for additional ideas to help keep rates affordable and find additional discounts you may qualify for.
- Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO or State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.
- Third, compare the price quotes to your existing policy to see if cheaper LX 570 coverage is available in Colorado Springs. If you find better rates and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
An important bit of advice to remember is that you’ll want to compare identical limits and deductibles on every quote request and and to get quotes from as many auto insurance providers as possible. Doing this ensures an apples-to-apples comparison and a thorough selection of prices.
Finding the cheapest coverage in Colorado Springs is easy if you know what you’re doing. If you already have coverage or want to find a cheaper company, use these tips to cut your premiums without having to cut coverage. Consumers just have to use the most effective way to compare prices using one simple form.
Compare Lexus LX 570 insurance rates
Finding cheap Lexus LX 570 car insurance prices isn’t really that difficult. The only requirement is to take a couple of minutes to compare rates to discover which company has affordable Colorado Springs auto insurance quotes.
The companies shown below have been selected to offer price quotes in Colorado Springs, CO. To locate the best cheap auto insurance in Colorado Springs, CO, it’s a good idea that you visit several of them in order to get a fair rate comparison.
Detailed insurance information
The coverage table shown next showcases estimates of insurance prices for Lexus LX 570 models. Understanding more about how policy rates are determined can assist in making decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LX 570 4WD 4-Dr | $238 | $482 | $396 | $24 | $118 | $1,258 | $105 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Prices do not factor in specific garaging location which can influence coverage rates greatly.
Analysis of deductible levels
One of the most common car insurance questions is how high should the physical damage deductibles be. The premium rates below lay out how much more you’ll pay when you choose different comp and collision deductibles. The first table uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LX 570 4WD 4-Dr | $446 | $784 | $352 | $20 | $106 | $1,733 | $144 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LX 570 4WD 4-Dr | $362 | $632 | $352 | $20 | $106 | $1,472 | $123 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can modify prices considerably.
Based on these figures, using a $250 deductible would cost the average driver about $21 more each month or $252 every year across all Lexus LX 570 models than opting for the higher $500 deductible. Because you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you usually have more than 12 months between claims, you would save money if you opt for a higher deductible.
The example below highlights how deductible choice and can change Lexus LX 570 insurance prices for different age groups of insureds. The rates are based on a single female driver, full coverage, and no policy discounts are applied.
How violations and accidents impact rates
The example below demonstrates how traffic citations and at-fault fender-benders raise Lexus LX 570 car insurance rates for different ages of insureds. The premium estimates are based on a married female driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
Why auto insurance is not optional
Despite the potentially high cost of Lexus LX 570 insurance, paying for auto insurance serves several important purposes.
First, just about all states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability coverage if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you took out a loan on your vehicle, almost all lenders will require that you buy insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Lexus at an extremely high rate and require you to pay for the much more expensive policy.
Third, insurance safeguards both your assets and your Lexus LX 570. It will also reimburse you for medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of carrying adequate insurance definitely exceed the price paid, especially for larger claims. Today the average American driver is overpaying over $810 a year so compare rate quotes at least once a year to make sure the price is not too high.
Auto insurance 101
Knowing the specifics of auto insurance can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and nobody wants to actually read their policy.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This gives you protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus LX 570.
Since a lot of drivers carry very low liability coverage limits (25/50/15), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive auto coverage
This coverage covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as falling objects, damage from flooding, damage from getting keyed and fire damage. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Collision protection
This will pay to fix damage to your LX 570 resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as rolling your car, hitting a mailbox and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible on your LX 570 in order to get cheaper collision rates.
Auto liability insurance
Liability insurance protects you from injuries or damage you cause to people or other property by causing an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 25/50/15 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and $15,000 of coverage for damaged property.
Liability coverage pays for things such as structural damage, repair costs for stationary objects, medical services and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but buy as high a limit as you can afford. Colorado requires drivers to carry at least 25/50/15 but you should think about purchasing more liability than the minimum.
The illustration below shows why minimum state limits may not be enough coverage.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP reimburse you for expenses for things like chiropractic care, hospital visits, dental work and pain medications. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants in addition to getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay
Colorado Springs auto insurance company ratings
Choosing the right auto insurance provider can be a challenge considering how many choices drivers have in Colorado. The rank data in the lists below can help you select which auto insurance companies to look at comparing rate quotes with.
Top 10 Colorado Springs Car Insurance Companies Ranked by Customer Service
- State Farm
- GEICO
- The Hartford
- Mercury Insurance
- Progressive
- The General
- Allstate
- AAA Insurance
- American Family
- Nationwide
Top 10 Colorado Springs Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- GEICO
- Liberty Mutual
- Progressive
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Affordable insurance rates are possible
Consumers who switch companies do it for a number of reasons such as poor customer service, delays in paying claims, unfair underwriting practices or denial of a claim. Whatever your reason, finding a new company can be pretty painless.
Budget-conscious Lexus LX 570 insurance is definitely available from both online companies and with local Colorado Springs insurance agents, and you should be comparing both in order to have the best chance of saving money. A few companies may not provide the ability to get quotes online and usually these small insurance companies prefer to sell through local independent agencies.
As you shop your coverage around, don’t be tempted to buy poor coverage just to save money. There have been many cases where consumers will sacrifice uninsured motorist or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your aim should be to purchase plenty of coverage at the best possible price and still be able to protect your assets.
Much more information about insurance in Colorado can be found at these links:
- Credit and Insurance Scores (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for 4×4 Vehicles in Colorado Springs? (FAQ)
- How Much is Auto Insurance for Postal Workers in Colorado Springs? (FAQ)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Comprehensive Coverage (Liberty Mutual)
- Side Impact Crash Tests (iihs.org)