The easiest way to save on Land Rover LR4 insurance is to do an annual price comparison from insurers in El Paso.
Step 1: It will benefit you to learn about how auto insurance works and the things you can control to prevent high rates. Many rating criteria that result in higher rates like accidents, traffic tickets, and a not-so-good credit score can be remedied by making small lifestyle or driving habit changes. Later in this article we will cover more information to help reduce premium rates and find available discounts that you may qualify for.
Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive or Farmers Insurance, while independent agencies can provide price quotes from many different companies.
Step 3: Compare the new rate quotes to your current policy to determine if you can save on LR4 insurance. If you find a better price and switch companies, make sure there is no lapse in coverage.
Step 4: Give notification to your agent or company to cancel your current auto insurance policy and submit the required down payment along with the signed application to the new insurer. As soon as you can, put the proof of insurance certificate in an easily accessible location.
A tip to remember is to use the same physical damage deductibles and liability limits on each quote and and to analyze as many different companies as possible. This provides the most accurate price comparison and a complete rate analysis.
Statistics show that a large majority of drivers kept buying from the same company for over three years, and roughly 40% of drivers have never compared rates from other carriers. American drivers could pocket approximately $850 a year by just comparing quotes, but they underestimate how much money they would save if they just switched companies.
The following companies offer price quotes in El Paso, TX. If several companies are displayed, we recommend you click on several of them to get the best price comparison.
Car insurance statistics and figures
The coverage table displayed next highlights detailed analysis of insurance prices for Land Rover LR4 models. Having a better understanding of how insurance prices are determined can help drivers make informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LR4 HSE Plus||$216||$494||$430||$26||$128||$1,294||$108|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Price estimates do not factor in specific zip code location which can change prices considerably.
Price comparison of only insuring for liability
The diagram below compares Land Rover LR4 insurance prices with and without full coverage. The premium estimates are based on no claims or driving citations, $500 deductibles, drivers are single, and no discounts are taken into consideration.
Deciding between full coverage and liability only
There is no set rule for dropping full coverage, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Land Rover LR4 replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying your policy deductible. If you are currently paying more than $200 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are a few cases where dropping full coverage is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Three good reasons to insure your vehicle
Even though El Paso LR4 insurance rates can get expensive, buying insurance is mandatory in Texas but it also protects more than you think.
- The majority of states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage if you don’t want to risk a ticket. In Texas 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 bought your Land Rover with a loan, almost every bank will make it mandatory that you carry insurance to guarantee their interest in the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Land Rover for a much higher rate and force you to pay much more than you were paying before.
- Insurance protects not only your Land Rover LR4 but also your financial assets. Insurance will pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you cause an accident and are sued. If mother nature or an accident damages your car, your policy will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than offset the price you pay, particularly if you ever have a claim. But the average driver in Texas is overpaying over $810 a year so compare rate quotes at every renewal to ensure rates are inline.
Auto insurance coverage breakdown
Knowing the specifics of your auto insurance policy can help you determine the right coverages and proper limits and deductibles. Auto insurance terms can be ambiguous and reading a policy is terribly boring.
Coverage for liability
This coverage protects you from damage or injury you incur to people or other property by causing an accident. It protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 30/60/25 which means $30,000 bodily injury coverage, a per accident bodily injury limit of $60,000, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage pays for claims like loss of income, pain and suffering and medical services. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but drivers should carry higher limits.
The next chart demonstrates why buying minimum limits may not be high enough to adequately cover claims.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for chiropractic care, X-ray expenses and EMT expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage
Auto collision coverage
Collision insurance covers damage to your LR4 caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as colliding with another moving vehicle, driving through your garage door, rolling your car, hitting a parking meter and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to choose a higher deductible on your LR4 to save money on collision insurance.
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as damage from flooding, a tree branch falling on your vehicle, hitting a deer, fire damage and a broken windshield. The highest amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Uninsured or underinsured coverage
This coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time these limits are identical to your policy’s liability coverage.