Save Money on Lexus RX 350 Insurance in Boston

We don’t have to tell you that car insurance companies want to keep you from shopping around. Drivers who shop around for the cheapest rate are likely to switch to a new company because there is a high probability of getting low-cost coverage. A recent survey revealed that consumers who routinely compared rates saved on average $3,500 over four years as compared to drivers who never shopped around for better prices.

If finding the best price on insurance in Boston is your goal, then having a grasp of how to shop and compare insurance rates can help simplify the task of finding more affordable coverage.

If you want to save the most money, the best way to get affordable Lexus RX 350 insurance is to compare prices annually from insurers that sell auto insurance in Boston. Rate comparisons can be done by completing these steps.

1. Try to learn about what is in your policy and the factors you can control to prevent rate increases. Many risk factors that result in higher prices such as speeding and a negative credit history can be remedied by paying attention to minor details. This article gives information to get cheaper rates and find overlooked discounts.
2. Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from one company like GEICO or State Farm, while independent agents can provide prices from multiple companies. Compare rates now
3. Compare the quotes to your current policy and see if you can save money. If you can save some money, make sure there is no lapse between the expiration of your current policy and the new one.
4. Provide proper notification to your current company of your intention to cancel your current auto insurance policy. Submit a down payment and signed policy application to your new company or agent. As soon as you can, place the new proof of insurance paperwork with your vehicle’s registration.

The most important part of shopping around is to use identical coverages on each price quote and and to get rate quotes from as many different companies as possible. Doing this guarantees a level playing field and the best price quote selection.

The fastest way that we advise to compare rates for Lexus RX 350 insurance in Boston is to know the trick most larger insurance companies pay for the opportunity to give free rates quotes. To start a quote, the only thing you need to do is provide a small amount of information such as what your job is, if you’re married, how your vehicles are used, and the make and model of your vehicles. Your details is sent automatically to many different companies and you should receive rate quotes very quickly.

To compare affordable Lexus RX 350 insurance rates now, click here and find out if you can get cheaper insurance in Boston.

The following companies offer price comparisons in Boston, MA. If you wish to find the best car insurance in Boston, it’s a good idea that you visit as many as you can to get a more complete price comparison.

Lexus RX 350 insurance statistics and information

The price information displayed next outlines estimates of insurance costs for Lexus RX 350 models. Learning how rates are formulated is important for making informed decisions.

Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Massachusetts minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Price estimates do not factor in Boston location which can impact coverage prices significantly.

Physical damage deductibles: Should you raise them?

One common question asked by Boston drivers is how high or low should comp and collision deductibles be. The comparisons below sum up the costs and benefits of buying low and high policy deductibles. The first set of rates uses a $250 deductible for physical damage and the second data table uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Massachusetts minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price information does not factor in specific garaging location which can impact coverage rates significantly.

Using the data above, we can ascertain that using a $250 deductible costs about $16 more each month or $192 each year than choosing the higher $500 deductible. Because you would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you normally average at least 16 months between claim filings, you would save money if you decide on a higher deductible. Below is how this decision is made.

One important issue to know is that increasing deductibles to save money means you will have to pay more when you do file a claim. You need enough disposable income in the event you have to pay the deductible to have repairs made.

The illustration below shows how different deductible levels and can increase or decrease Lexus RX 350 insurance costs for each different age category. The data is based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.

Careless Boston drivers pay higher rates

The illustration below demonstrates how traffic citations and fender-benders increase Lexus RX 350 auto insurance costs for each different age category. The premium estimates are based on a single male driver, full coverage, $500 deductibles, and no discounts are applied.

Males versus Females

The illustration below illustrates the comparison of Lexus RX 350 insurance premiums for male and female drivers. The prices are based on no claims, a clean driving record, full physical damage coverage, $500 deductibles, drivers are single, and no discounts are taken into consideration.

Full coverage versus liability-only in Boston

The illustration below shows the comparison of Lexus RX 350 premium costs with full coverage and liability only. The information is based on no violations or claims, $250 deductibles, marital status is single, and no discounts are taken into consideration.

Should you pay for full coverage or liability only?

There is no clear-cut rule to exclude physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s assume your Lexus RX 350 settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $8,000 after paying the physical damage deductible. If it’s costing you more than $800 annually for your policy with full coverage, then it may be the right time to buy liability only.

There are some conditions where dropping full coverage is not a good idea. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.

Do you qualify for these five discounts?

Car insurance companies don’t necessarily list all their discounts in a way that’s easy to find, so here is a list both well-publicized as well as some of the hidden credits that may apply to you. If you do not double check each discount available, it’s possible you qualify for a lower rate.

• Federal Government Employee – Federal government employees may reduce rates when you quote Boston auto insurance with select insurance companies.
• Payment Method – By making one initial payment instead of paying each month you can actually save on your bill.
• More Vehicles More Savings – Drivers who insure more than one vehicle with one company can get a discount on all vehicles.
• Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up can save 10% or more off the personal injury premium cost.
• Boston Homeowners Discount – Being a homeowner may earn you a small savings because owning a home demonstrates responsibility.

Discounts save money, but please remember that most discount credits are not given to the overall cost of the policy. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Just because it seems like you can get free auto insurance, you’re out of luck.

The illustration below shows the difference between Lexus RX 350 annual premium costs with and without discounts applied to the rates. The price estimates are based on a female driver, a clean driving record, no claims, Massachusetts state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, multi-policy, marriage, claim-free, and homeowner discounts applied.

A few popular companies and a summarized list of policyholder discounts are:

• State Farm offers discounts including safe vehicle, Steer Clear safe driver discount, good student, defensive driving training, passive restraint, Drive Safe & Save, and multiple autos.
• GEICO has discounts for emergency military deployment, daytime running lights, military active duty, federal employee, good student, and five-year accident-free.
• Allstate policyholders can earn discounts including 55 and retired, premier discount, eSmart discount, farm vehicle, and multi-policy.
• SAFECO includes discounts for accident prevention training, anti-theft, bundle discounts, anti-lock brakes, teen safe driver, drive less, and teen safety rewards.
• Farm Bureau may include discounts for youthful driver, multi-policy, good student, driver training, and renewal discount.
• Progressive offers premium reductions for good student, online signing, online quote discount, homeowner, and multi-policy.
• AAA may offer discounts for AAA membership discount, multi-policy, multi-car, pay-in-full, good student, anti-theft, and education and occupation.

It’s a good idea to ask all companies you are considering which credits you are entitled to. A few discounts might not apply in Boston. If you would like to see a list of providers who offer car insurance discounts in Massachusetts, click here to view.

Three reasons to not skimp on insurance

Despite the high insurance cost for a Lexus RX 350 in Boston, paying for insurance is most likely required but also gives you several important benefits.

• Just about all states have minimum liability requirements which means it is punishable by state law to not carry specific limits of liability insurance coverage in order to license the vehicle. In Massachusetts these limits are 20/40/5 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If you have a lien on your vehicle, most banks will force you to have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank or lender will purchase a policy for your Lexus at a much higher rate and require you to pay for the expensive policy.
• Insurance safeguards not only your vehicle but also your financial assets. Insurance will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability coverage also covers legal expenses if you are sued as the result of your driving. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of having insurance definitely exceed the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is currently overpaying as much as $810 a year so you should quote your policy with other companies at least once a year to ensure rates are inline.

Situations that may require an agent’s advice

When buying a policy, there is no single plan that fits everyone. Every insured’s situation is different.

For instance, these questions can help discover whether you might need an agent’s assistance.

• When should I buy a commercial auto policy?
• What is GAP insurance?
• Why am I required to buy high-risk coverage?
• What is an SR-22 filing?
• Do I need special endorsements for business use of my vehicle?
• Am I covered when driving someone else’s vehicle?
• Does my policy cover me if I wreck while driving under the influence?

If you’re not sure about those questions, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can provide invaluable advice.

Insurance agent or online?

Certain consumers would rather talk to a local agent and we recommend doing that Most agents can help you choose the best coverages and give you someone to call. A good thing about getting online price quotes is that you can find lower rates but still work with a licensed agent. Buying from local agents is definitely important in Boston.

After completing this simple form, the coverage information is sent to agents in your area who can give free rate quotes for your coverage. You don’t have to find an agent since price quotes are sent to you directly. If for some reason you want to get a price quote from a specific company, you would need to jump over to their website and fill out the quote form the provide.

Types of auto insurance agents

If you want to buy auto insurance from a good Boston insurance agent, there are a couple of different types of agents and how they are distinctly different. Auto insurance agents in Boston are either exclusive or independent (non-exclusive). Both types of agents can write auto insurance policies, but it’s important to know how they differ since it can impact the kind of agent you use.

Independent Agents

Agents that elect to be independent are not limited to a single company and that enables them to quote your coverage with any number of different companies and get you the best rates possible. If premiums increase, they simply switch companies in-house which is easy for the insured. If you need lower rates, we recommend you compare quotes from at a minimum one independent agency to have the most options to choose from. Most have the option of insuring with companies you’ve never heard of which can save you money.

Shown below is a partial list of independent agencies in Boston that may be able to provide price quotes.

• Baltic Insurance Agency
  597 E Broadway – South Boston, MA 02127 – (617) 268-6030 – View Map
• Allston Insurance
  281 Western Ave – Boston, MA 02134 – (617) 229-6413 – View Map
• H R Hatch Insurance Agency, Inc
  31 Milk St #410 – Boston, MA 02109 – (617) 426-3711 – View Map

View more agents

Exclusive Insurance Agents

These type of agents work for only one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents are unable to shop your coverage around so they have no alternatives for high prices. Exclusive agents are usually quite knowledgeable on their company’s products which helps them sell on service rather than price. Some consumers prefer to choose to use an exclusive agent partially due to the brand legacy rather than having the cheapest rates.

Below are exclusive agents in Boston that can give you price quote information.

• AAA Boston
  125 High St – Boston, MA 02110 – (617) 443-9300 – View Map
• Allstate Insurance: Abner Joseph
  571 Dudley St Ste A – Boston, MA 02125 – (617) 442-9490 – View Map

View more agents

Picking an car insurance agent shouldn’t rely on just the premium amount. The answers to these questions are important, too.

• What company holds the largest book of business for them?
• Do they prorate repair cost based on vehicle mileage?
• How experienced are they in personal risk management?
• How long has their agency been in business in Boston?
• Is vehicle damage repaired with OEM or aftermarket parts?
• Can you use your own choice of collision repair facility?
• Is the agent properly licensed in Massachusetts?

Car insurance 101

Knowing the specifics of your policy can be of help when determining appropriate coverage and proper limits and deductibles. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Comprehensive coverages – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as falling objects, rock chips in glass and hitting a bird. The highest amount a car insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like pain medications, prosthetic devices, EMT expenses, dental work and ambulance fees. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Liability coverages – Liability coverage can cover damages or injuries you inflict on other’s property or people in an accident. This coverage protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 20/40/5 which stand for $20,000 bodily injury coverage, a limit of $40,000 in injury protection per accident, and a limit of $5,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against things such as attorney fees, loss of income and funeral expenses. How much liability should you purchase? That is up to you, but consider buying as large an amount as possible. Massachusetts state minimum liability requirements are 20/40/5 but it’s recommended drivers buy more liability than the minimum.

The illustration below shows why buying the state minimum limits may not be enough coverage.

Uninsured and underinsured coverage – This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law (Massachusetts limits are 20/40/5), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision – This pays to fix your vehicle from damage from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like crashing into a ditch, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to bump up the deductible on your RX 350 to get cheaper collision coverage.