Want to learn how to buy cheaper Lexus IS 250 insurance in El Paso? Price shopping your Lexus IS 250 insurance in El Paso can be frustrating for drivers not familiar with shopping for insurance online. You have so many choices that it can quickly become a difficult challenge to find the perfect company for you.
How to find better rates for Lexus IS 250 insurance in El Paso
To save the most money, the best way to get the cheapest Lexus IS 250 insurance is to make a habit of comparing prices annually from companies in El Paso.
First, try to comprehend how insurance companies determine prices and the steps you can take to prevent expensive coverage. Many things that result in higher prices like accidents, careless driving, and an unacceptable credit history can be controlled by making minor changes in your lifestyle. Later in this article we will cover ideas to keep prices down and find additional discounts.
Second, compare rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like Progressive and State Farm, while agents who are independent can quote rates for many different companies.
Third, compare the new quotes to the premium of your current policy and see if you can save money. If you find a lower rate quote 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 to make sure you enter identical coverage information on each quote and and to get quotes from as many different insurance providers as possible. This enables a fair rate comparison and plenty of rates choose from.
A recent study showed that the vast majority of drivers have remained with the same insurance company for more than four years, and almost 40% of drivers have never even compared rates from other companies. American consumers could save approximately $850 every year, but they just don’t understand the big savings they would realize if they moved their coverage to a different company.
Buy El Paso Lexus IS 250 insurance online
To find low cost quotes, there are a couple of ways to compare rate quotes from many available car insurance companies in Texas. The best method to compare Lexus IS 250 insurance prices is simply to get online rate quotes.
When price shopping your coverage, making a lot of price comparisons will improve the odds of getting the best rates.
The auto insurance companies shown below have been selected to offer free rate quotes in Texas. If more than one company is shown, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Get cheaper rates by receiving discounts
Auto insurance is neither fun to buy or cheap, but companies offer discounts that can dramatically reduce your bill. Certain discounts will be applied when you quote, but some need to be inquired about before you get the savings.
- Discount for Good Grades – This discount may save you up to 25%. Most companies allow this discount well after school through age 25.
- Service Members Pay Less – Being deployed in the military could qualify you for better prices.
- ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control are safer to drive so companies give up to a 10% discount.
- Federal Government Employee – Having worked for a branch of the government can earn a discount up to 10% with certain companies.
- Low Mileage Discounts – Maintaining low annual mileage could be rewarded with cheaper premium rates.
Discounts lower rates, but most credits do not apply to the whole policy. Most only reduce individual premiums such as liability and collision coverage. So when the math indicates all the discounts add up to a free policy, that’s just not realistic. Any amount of discount will help lower your policy cost.
The illustration below compares Lexus IS 250 insurance costs with and without discounts applied to the premium. The prices are based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, homeowner, multi-car, marriage, and safe-driver discounts applied.
Popular auto insurance companies and a selection of discounts are detailed below.
- Farm Bureau has discounts for renewal discount, driver training, multi-vehicle, youthful driver, multi-policy, and safe driver.
- Liberty Mutual discounts include hybrid vehicle, newly retired, new move discount, new vehicle discount, teen driver discount, newly married, and good student.
- State Farm policyholders can earn discounts including safe vehicle, student away at school, multiple policy, anti-theft, driver’s education, good student, and accident-free.
- Auto-Owners Insurance offers premium reductions for company car, paperless, paid in full, anti-lock brakes, student away at school, good student, and safe vehicle.
- GEICO offers discounts including multi-policy, defensive driver, five-year accident-free, daytime running lights, and air bags.
- SAFECO offers discounts for safe driver, teen safety rewards, anti-theft, anti-lock brakes, drive less, and multi-car.
If you need affordable El Paso car insurance quotes, ask every insurance company which credits you are entitled to. Discounts may not apply to policyholders in your state. If you would like to see a list of auto insurance companies with significant discounts in El Paso, follow this link.
Rates and statistics
The premium table displayed next outlines different prices for Lexus IS 250 models. Understanding how auto insurance premiums are calculated can help customers make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$358||$788||$330||$20||$98||$1,594||$133|
|IS 250 AWD 4-Dr||$400||$788||$330||$20||$98||$1,636||$136|
|IS 250 C 2-Dr Convertible||$400||$788||$388||$24||$116||$1,716||$143|
|Get Your Own Custom Quote Go|
Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Price estimates do not factor in vehicle garaging location which can lower or raise coverage rates considerably.
Analysis of deductible levels
One frequently asked question is which deductible level should you buy. The figures shown below can help illustrate the difference in cost when you choose different insurance deductibles. The first set of prices uses a $100 deductible and the second set of prices uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$370||$804||$324||$20||$96||$1,639||$137|
|IS 250 AWD 4-Dr||$412||$804||$324||$20||$96||$1,681||$140|
|IS 250 C 2-Dr Convertible||$412||$804||$382||$22||$114||$1,759||$147|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$206||$424||$324||$20||$96||$1,070||$89|
|IS 250 AWD 4-Dr||$228||$424||$324||$20||$96||$1,092||$91|
|IS 250 C 2-Dr Convertible||$228||$424||$382||$22||$114||$1,170||$98|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rates do not factor in zip code location which can alter coverage rates substantially.
Based on this data, using a $100 deductible could cost the average driver approximately $48 more each month or $576 every year than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to average at a minimum 19 months between claim filings, you would save money if you elect the higher deductible. The illustration below shows the way we made this calculation.
|Average monthly premium for $100 deductibles:||$141|
|Average monthly premium for $1,000 deductibles (subtract):||– $93|
|Monthly savings from raising deductible:||$48|
|Difference between deductibles ($1,000 – $100):||$900|
|Divide difference by monthly savings:||$900 / $48|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||19 months|
One important note is that increasing deductibles to lower your rates means you pay more out-of-pocket when you have a physical damage claim. You need to make sure you have enough money stashed away in the event you need to pay the deductible to have repairs made.
The chart below illustrates how your choice of deductibles and can impact Lexus IS 250 insurance costs for different ages of insureds. The prices are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
Comparison of auto insurance rates by age and gender
The example below shows the difference between Lexus IS 250 insurance costs for male and female drivers. The costs are based on no claims or driving citations, full physical damage coverage, $250 deductibles, single marital status, and no discounts are taken into consideration.
Full coverage or liability only
The illustration below visualizes the comparison of Lexus IS 250 annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no accidents, no driving violations, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no definitive formula to eliminate physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s say your Lexus IS 250 replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $3,000 after paying the physical damage deductible. If you are paying in excess of $300 annually for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some cases where eliminating full coverage is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Buying from insurance agents
Many people just prefer to go talk to an agent and often times that is recommended An additional benefit of getting free rate quotes online is that drivers can save money and get lower rates but still work with a licensed agent. Buying from local agencies is important especially in El Paso.
To find an agent, once you fill out this form (opens in new window), your insurance data is immediately sent to agents in your area who will give you bids for your business. It’s much easier because you don’t need to drive around because quoted prices will be sent immediately to your email address. You can find the lowest rates and a licensed agent to talk to. If you want to compare rates from a specific car insurance provider, you can always go to their quote page and give them your coverage information.
Different types of auto insurance agents in El Paso
If you need to find a local El Paso insurance agency, it can be helpful to understand the types of agencies and how they are slightly different. Insurance agencies in El Paso are categorized either independent or exclusive.
Independent Car Insurance Agencies
Agents of this type often have affiliation with several companies so they have the ability to put coverage with multiple insurance companies depending on which coverage is best. If your premiums go up, the business is moved internally and you don’t have to do anything.
If you need lower rates, it’s recommended you compare prices from several independent agencies in order to compare the most rates. A lot of them also have access to small mutual carriers that many times have cheaper rates.
The following are independent agents in El Paso who may be able to give you rate quotes.
- Tony Ramos Insurance
7230 Gateway Blvd E H – El Paso, TX 79915 – (915) 599-1678 – View Map
- Rey Estrada Insurance
6999 Montana Ave – El Paso, TX 79925 – (915) 771-9193 – View Map
- Nationwide Insurance: Pinon and Associates Financial Corporation
1515 E Missouri Ave – El Paso, TX 79902 – (915) 857-6890 – View Map
Exclusive Car Insurance Agencies
Exclusive agents can only provide pricing for a single company such as State Farm, Allstate and AAA. Exclusive agencies are unable to provide prices from multiple companies so keep that in mind. Exclusive agents are very knowledgeable on their products and sales techniques which can be an advantage. Many people choose to use an exclusive agent mainly due to high brand loyalty rather than low price.
Shown below are El Paso exclusive agencies that are able to give comparison quotes.
- Yvonne Curtis – State Farm Insurance Agent
1550 Hawkins Blvd Ste 15 – El Paso, TX 79925 – (915) 591-0871 – View Map
- Elizabeth Campos – State Farm Insurance Agent
9411 Alameda Ave o – El Paso, TX 79907 – (915) 860-7980 – View Map
- James Cuilty – State Farm Insurance Agent
10318 McCombs St – El Paso, TX 79924 – (915) 881-4956 – View Map
Choosing a insurance agency shouldn’t rely on just a low price. Any agent in El Paso should be forthright in answering these questions:
- What company holds the largest book of business for them?
- How many years of experience in personal auto insurance do they have?
- What is their Better Business Bureau rating?
- Do you work with a CSR or direct with the agent?
- Are they giving you every discount you deserve?
- Will the quote change when the policy is issued?
What Affects Lexus IS 250 Insurance Prices?
Smart consumers have a good feel for some of the factors that help calculate the price you pay for insurance. If you have a feel for what positively or negatively impacts your premiums, this helps enable you to make changes that can help you get lower rates. Many factors are part of the equation when you quote your car insurance policy. A few of the factors are predictable like a motor vehicle report, but some are not as apparent like your vehicle usage or how financially stable you are.
- Do you know you’re credit rating? – Having a good credit score can be a huge factor in your rate calculation. People that have high credit scores tend to be less risk to insure than drivers who have poor credit. If your credit score leaves room for improvement, you could pay less to insure your Lexus IS 250 by improving your credit score.
- Cheaper rates by consolidating – The majority of insurance companies will award better rates to clients who buy several policies from them in the form of a multi-policy discount. This can amount to anywhere from five to ten percent in most cases. Even if you qualify for this discount already, it’s still a good idea to shop around to ensure the best deal.
How old are your drivers? – Older drivers are more cautious drivers, file fewer claims, and are safer drivers. Teenage drivers have been known to be careless and easily distracted when behind the wheel so insurance rates are higher.
The following chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
- Do you have a demanding occupation? – Occupations like real estate brokers, architects, and stock brokers tend to pay higher premium rates in part from stressful work requirements and long work hours. Other jobs such as farmers, historians and performers receive lower rates.
Poor driving leads to higher prices – Only having one driving citation may cause rates to rise by as much as twenty percent. Attentive drivers have lower premiums than bad drivers. Drivers who get flagrant violations like DUI, reckless driving or excessive speeding may face state-mandated requirements to file a SR-22 with their state’s department of motor vehicles in order to legally drive.
The diagram below demonstrates how citations and accidents can influence Lexus IS 250 insurance prices for each different age category. The premiums assume a single male driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
- High physical damage deductibles equal low rates – Physical damage protection, also called comprehensive and collision insurance, covers damage that occurs to your Lexus. Examples of covered claims are colliding with a building, damage caused by hail, and damage from a fallen tree branch. Comp and collision deductibles state the amount of money you are required to spend if a covered claim is submitted. The higher the amount the insured is willing to pay, the lower your rates will be.
- Liability insurance is peace of mind – The liability section of your policy will provide protection if you are ruled to be at fault for physical damage or personal injury to other. Liability provides legal defense to defend your case. Liability insurance is quite affordable compared to physical damage coverage, so drivers should carry high limits.
Lexus IS 250 insurance claim data – Insurers use past insurance losses when they file their rates in each state. Models that historically have increased claim numbers or amounts will have higher premium rates. The table below illustrates the insurance loss data used by companies for Lexus IS 250 vehicles.
For each coverage category, the claim probability for all vehicles, as an average, is considered to be 100. Percentages below 100 suggest a positive loss record, while values over 100 show a trend for more claims or a tendency for losses to be larger than average.
Lexus IS 250 Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus IS 250 4dr 2WD 179 103 177 116 146 115 Lexus IS 250 4dr 4WD 177 87 186 118 Lexus IS 250 Convertible 135 80 84BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance does more than just repair your car
Even though it can be expensive, insuring your vehicle may not be optional for several reasons.
- The majority of states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability in order to be legal. 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 your Lexus has a loan, it’s most likely the lender will make it a condition of the loan that you have physical damage coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Lexus at a much higher premium rate and require you to fork over for the expensive policy.
- Insurance protects both your car and your assets. It will also cover medical expenses that are the result of an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to repair the damage.
The benefits of having insurance definitely exceed the cost, particularly for liability claims. According to a 2015 survey, the average American driver is wasting up to $830 a year so you should quote your policy with other companies every year to save money.
Best car insurance in Texas
Buying coverage from the best insurer can be a challenge considering how many companies provide coverage in Texas. The ranking data in the next section may help you decide which auto insurance companies to look at to insure your vehicles.
Top 10 El Paso Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Top 10 El Paso Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
How much can you save?
The cheapest Lexus IS 250 insurance in El Paso is possible from both online companies as well as from independent agents in El Paso, so get free El Paso car insurance quotes from both of them in order to have the best chance of saving money. There are still a few companies who may not have price quotes online and many times these regional carriers only sell coverage through independent agents.
As you quote El Paso car insurance, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where someone dropped collision coverage and found out when filing a claim they didn’t have enough coverage. The ultimate goal is to purchase plenty of coverage at a price you can afford, but do not sacrifice coverage to save money.
Drivers switch companies for any number of reasons including high rates after DUI convictions, questionable increases in premium, poor customer service and even being labeled a high risk driver. No matter why you want to switch, switching companies can be pretty painless.
Steps to finding cheaper quotes for Lexus IS 250 insurance in El Paso
If saving money is your primary concern, then the best way to find better pricing on Lexus IS 250 insurance is to do a yearly price comparison from companies in El Paso.
- Step 1: It will benefit you to learn about individual coverages and the steps you can take to keep rates in check. Many factors that result in higher prices like careless driving and an unacceptable credit score can be amended by being financially responsible and driving safely.
- Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from one company like GEICO and State Farm, while independent agents can give you price quotes for a wide range of insurance providers. View insurance agents
- Step 3: Compare the new rate quotes to your existing rates and see if there is a cheaper rate. If you find a better price and make a switch, ensure there is no coverage lapse between policies.
- Step 4: Provide proper notification to your current company to cancel your current policy. Submit payment and a completed application to the new insurer. Immediately put the new certificate verifying proof of insurance in an easily accessible location in your vehicle.
One piece of advice is to make sure you enter similar limits and deductibles on each quote and and to get rate quotes from as many auto insurance providers as possible. This enables an apples-to-apples comparison and plenty of rates choose from.
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