Compare Lexus GS 350 Insurance Rates in Charlotte

If you want to save money, the best way to find the cheapest price for Lexus GS 350 insurance in Charlotte is to compare quotes annually from insurers who sell insurance in North Carolina.

1. Take a little time to learn about individual coverages and the changes you can make to prevent expensive coverage. Many rating criteria that cause high rates such as inattentive driving and a low credit score can be rectified by paying attention to minor details. This article gives more details to help keep rates affordable and get additional discounts.
2. Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can give quotes from one company like GEICO and Allstate, while independent agencies can provide rate quotes from multiple insurance companies. View rates
3. Compare the price quotes to the premium of your current policy to see if you can save by switching companies. If you find a better price and change companies, ensure coverage does not lapse between policies.

The most important part of this process is to try to compare the same deductibles and limits on each quote request and and to get price quotes from as many carriers as you can. Doing this ensures a fair price comparison and a thorough price selection.

We don’t have to point out that fact that insurance companies don’t want their customers to go rate shopping. People who do rate comparisons are likely to switch auto insurance companies because there is a good chance of finding a lower-priced policy. A survey found that people who compared prices regularly saved $865 annually as compared to drivers who never shopped around for cheaper prices.

If finding the best rates on car insurance in Charlotte is the reason for your visit, then knowing how to find companies and compare insurance coverage can help you be more efficient.

Discounts mean cheaper rates for Lexus GS 350 insurance in Charlotte

Not too many consumers would say car insurance is affordable, but there may be some discounts to cut the cost considerably. Many of these discounts will be applied automatically when you complete an application, but lesser-known reductions have to be specifically requested prior to receiving the credit.

• Renewal Discounts – Some companies give discounts for renewing your policy before your current GS 350 insurance policy expires. You can save around 10% with this discount.
• Buy New and Save – Insuring a new GS 350 can cost up to 25% less since newer vehicles have better safety ratings.
• Good Students Pay Less – Maintaining excellent grades can earn a discount of 20% or more. The discount lasts until age 25.
• More Vehicles More Savings – Buying a policy with primary and secondary vehicles on a single policy can get a discount on all vehicles.
• Good Driver Discounts – Accident-free drivers could pay up to 40% less than drivers with accident claims.

It’s important to note that some of the credits will not apply to the overall cost of the policy. Most only apply to specific coverage prices like liability and collision coverage. Even though it appears adding up those discounts means a free policy, it just doesn’t work that way.

The illustration below visualizes the comparison of Lexus GS 350 insurance costs with and without policy discounts. The premiums are based on a male driver, no claims or violations, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, homeowner, marriage, and multi-car discounts applied.

A few of the larger companies and their possible discounts include:

• Farm Bureau may offer discounts for good student, multi-vehicle, driver training, multi-policy, renewal discount, and 55 and retired.
• MetLife offers discounts including defensive driver, good student, claim-free, accident-free, good driver, and multi-policy.
• Progressive discounts include homeowner, good student, multi-vehicle, online quote discount, multi-policy, continuous coverage, and online signing.
• AAA has discounts for good student, education and occupation, multi-car, AAA membership discount, good driver, and multi-policy.
• American Family offers discounts for early bird, good driver, mySafetyValet, defensive driver, TimeAway discount, air bags, and bundled insurance.
• GEICO may have discounts that include good student, five-year accident-free, emergency military deployment, anti-theft, anti-lock brakes, driver training, and membership and employees.
• State Farm may include discounts for multiple autos, good driver, Steer Clear safe driver discount, safe vehicle, Drive Safe & Save, multiple policy, and defensive driving training.

If you need low cost Charlotte auto insurance quotes, ask all companies you are considering which discounts you qualify for. Depending on the company, some discounts may not be available in your area.

The auto insurance companies shown below can provide comparison quotes in North Carolina. If your goal is to find the best cheap car insurance in Charlotte, we recommend you visit two to three different companies in order to find the lowest rates.

Rates and detailed analysis

The coverage table shown next highlights different insurance prices for Lexus GS 350 models. Having knowledge of how policy rates are formulated can assist in making smart choices when choosing a car insurance company.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rates do not factor in the specific area where the vehicle is garaged which can increase or decrease price quotes considerably.

Analysis of deductible levels

One of the hardest decisions when shopping for insurance is the level to set your comp and collision deductibles. The following insurance rates highlight how much more rates are between high and low physical damage coverage deductibles. The first rate table uses a $250 physical damage deductible and the second price grid uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Rate information does not factor in garaging location in Charlotte which can raise or lower premiums noticeably.

Based on this data, using a $250 deductible would cost the average driver about $14 more each month or $168 each year than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally average at least 18 months between claim filings, you would probably come out ahead if you choose a higher deductible.

Safe drivers Charlotte pay cheaper rates

The example below illustrates how violations and accidents raise Lexus GS 350 car insurance costs for different age categories. The costs are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are applied to the premium.

Should you buy full coverage?

The chart below illustrates the comparison of Lexus GS 350 yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The prices are based on no claims or driving citations, $250 deductibles, single marital status, and no discounts are taken into consideration.

When to drop comp and collision

There is no set guideline of when to exclude full coverage, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s say your Lexus GS 350 settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after you pay the deductible. If it’s costing you more than $500 a year for physical damage coverage, then you might want to think about dropping full coverage.

There are a few cases where eliminating full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.

Four factors that determine insurance costs

Lots of factors are part of the calculation when pricing auto insurance. Most are fairly basic such as your driving record, but other criteria are not quite as obvious such as your credit history or how financially stable you are.

The list below includes a few of the “ingredients” companies use to determine rates.

Safety first – Cars with high safety ratings tend to have better insurance rates. Safer cars protect occupants better and fewer injuries means your insurance company pays less and more competitive rates for policyholders.

Don’t skimp on liability protection – Liability insurance will protect you when you are responsible for personal injury or accident damage. Your policy’s liability insurance provides you with a defense in court which can cost thousands of dollars. This coverage is very inexpensive as compared to coverage for physical damage, so drivers should carry high limits.

Physical damage deductibles – Protection for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Lexus. A few examples of covered claims are a broken windshield, hitting a deer, and damage from a fallen tree branch. Deductibles for physical damage define the amount the insured will be required to pay before a claim is paid by your company. The more expense the insured has to pay upfront, the lower your rates will be.

Does insurance coverage cost more for men? – Statistics have proven females are less aggressive when driving. Now that doesn’t mean men are WORSE drivers than women. They both are in accidents at about the same rate, but the males cause more damage. In addition to higher claims, males also get higher numbers of serious violations like DUI and reckless driving.

The illustration below shows the comparison of Lexus GS 350 yearly insurance costs for male and female drivers. The rates are based on no accidents, no driving violations, full physical damage coverage, $500 deductibles, single marital status, and no other discounts are factored in.

Insurance loss probability for a Lexus GS 350 – Companies include the past claim history for a vehicle to determine a rate that will be profitable for them. Models that the data determines to have increased claim numbers or amounts will have higher rates for specific coverages.

The table below demonstrates the loss history for Lexus GS 350 vehicles. For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, equals 100. Numbers shown that are under 100 suggest a positive loss record, while percentages above 100 indicate frequent claims or an increased likelihood of larger losses.

How to know if you need help

When buying coverage for your vehicles, there really is no one size fits all plan. Each situation is unique so this has to be addressed. For example, these questions might help in determining if your situation could use an agent’s help.

• Should I drop comprehensive coverage on older vehicles?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Am I covered when delivering products for my home-based business?
• If I use my vehicle for business use is it covered?
• Is business property covered if stolen from my car?
• Is my teenager covered with friends in the car?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It’s fast, free and you can get the answers you need.

Do I need an insurance agency?

Certain consumers just prefer to get professional advice from a licensed agent and that is not a bad decision Professional insurance agents can make sure you are properly covered and give you someone to call. An additional benefit of comparing rate quotes online is the fact that drivers can get better rates and still have a local agent.

Once you complete this form (opens in new window), your information is sent to insurance agents in Charlotte that can give you free Charlotte auto insurance quotes and help you find cheaper coverage. You won’t need to drive around due to the fact that quote results will go to the email address you provide. If you want to get a rate quote from one company in particular, you can always jump over to their website and give them your coverage information.

Finding the right insurance company requires more thought than just a cheap price quote. These are some valid questions you should ask.

• How long have they worked with personal auto insurance coverage?
• Does the agency provide any after hours assistance?
• Will they make sure you get an adequate claim settlement?
• Has the agent ever had any license suspensions?
• Do they reduce claim amounts on high mileage vehicles?
• What are their preferred companies if they are an independent agency?

The following is a list of auto insurance companies in Charlotte who can help you get price quote information for Lexus GS 350 insurance in Charlotte.

• Nationwide Insurance: Timothy G Hausmann Agency
  2313 Randolph Rd – Charlotte, NC 28207 – (704) 332-0011 – View Map
• Patriot Insurance Agencies
  9620 Monroe Rd – Charlotte, NC 28270 – (704) 644-3058 – View Map
• Juan Rubio – State Farm Insurance Agent
  9401 Statesville Rd Ste E – Charlotte, NC 28269 – (704) 509-5854 – View Map
• Matt “Woody” Woodford – State Farm Insurance Agent
  501 S Sharon Amity Rd #200 – Charlotte, NC 28211 – (704) 971-3030 – View Map

View more Charlotte agents

Here’s why auto insurance is not optional

Even though Charlotte GS 350 insurance rates can get expensive, insurance is required for several reasons.

• Just about all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability in order to license the vehicle. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you took out a loan on your Lexus GS 350, almost all lenders will make it mandatory that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the bank may buy a policy for your Lexus at a significantly higher premium and make you pay a much higher amount than you were paying before.
• Insurance protects not only your Lexus GS 350 but also your financial assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.

The benefits of insuring your car are without a doubt worth the cost, particularly when you have a large claim. But the average driver in North Carolina is overpaying more than $830 a year so shop around at every policy renewal to be sure current rates are still competitive.

Don’t give up on affordable rates

Some auto insurance companies don’t offer online price quotes and these smaller providers prefer to sell through independent insurance agencies. Budget-conscious Lexus GS 350 insurance can be found online as well as from independent agents in Charlotte, and you should compare rates from both to have the best selection.

When shopping online for auto insurance, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, an accident victim reduced collision coverage and found out when filing a claim that it was a big mistake. Your aim should be to get the best coverage possible for the lowest price and still be able to protect your assets.

More detailed auto insurance information is available in the articles below:

• Eight Auto Insurance Myths (Insurance Information Institute)
• Who Has Cheap Auto Insurance Rates for Good Students in Charlotte? (FAQ)
• Who Has the Cheapest Car Insurance for 19 Year Olds in Charlotte? (FAQ)
• How Much are Charlotte Auto Insurance Rates for First-time Drivers? (FAQ)
• Auto Insurance FAQ (Farmers Insurance)
• Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
• Side Impact Crash Tests (iihs.org)
• Teen Driver Licensing Information (iihs.org)