Scraping up a payment for high-priced Lexus IS 250 insurance in Tulsa can eat up your monthly budget and possibly require you to analyze your spending habits. Comparing rate quotes is free and is an excellent way to lower your bills every month.
It goes without saying that auto insurance companies don’t want you quoting rates from other companies. Drivers who compare price quotes are very likely to switch to a new company because there is a good probability of finding good coverage at a lower price. A recent car insurance study discovered that drivers who shopped around saved as much as $3,450 over four years compared to other drivers who never compared rates.
If saving money on Lexus IS 250 insurance in Tulsa is your intention, then understanding how to get price quotes and compare insurance rates can make it easier for you to save money.
Steps to saving on Lexus IS 250 insurance in Tulsa
Truthfully, the best way to find lower priced Lexus IS 250 insurance is to do an annual price comparison from companies in Tulsa.
- First, try to understand how companies price auto insurance and the things you can change to keep rates in check. Many rating factors that are responsible for high rates such as traffic violations, accidents, and a poor credit rating can be eliminated by making minor changes in your lifestyle.
- Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple sources.
- Third, compare the new quotes to your existing policy to see if a cheaper rate is available in Tulsa. If you find a lower rate quote and make a switch, make sure coverage does not lapse between policies.
- Fourth, tell your current company of your intention to cancel your current coverage. Submit any necessary down payment along with the completed application to your new carrier. When you receive it, safely store the certificate verifying proof of insurance in your glove compartment.
The key thing to remember is to compare identical limits and deductibles on each price quote and and to get prices from as many companies as you can. Doing this ensures an accurate price comparison and and a good selection of different prices.
Big companies like Progressive, State Farm and GEICO all claim big savings with TV and radio ads and it can be hard to avoid their marketing magic and take the time to shop coverage around.
It’s a great practice to take a look at other company’s rates every six months because car insurance prices change quite often. Even if you got the lowest quotes on Lexus IS 250 insurance in Tulsa a few years ago there may be better deals available now. Ignore everything you know about car insurance because you’re going to learn the fastest way to save money, get proper coverage and the best rates.
Low Cost Lexus insurance rate quotes in Tulsa
The companies shown below have been selected to offer price quotes in Tulsa, OK. To get the best car insurance in Tulsa, we recommend you get rate quotes from several of them in order to find the most competitive rates.
Auto insurance statistics for a Lexus IS 250
The table displayed below outlines a range of insurance premium costs for Lexus IS 250 models. Understanding more about how rates are formulated is important for drivers to make informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$340||$804||$366||$22||$110||$1,642||$137|
|IS 250 AWD 4-Dr||$378||$804||$366||$22||$110||$1,680||$140|
|IS 250 C 2-Dr Convertible||$378||$804||$430||$26||$128||$1,766||$147|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rates do not factor in specific Tulsa garaging location which can raise or lower auto insurance rates greatly.
The diagram below demonstrates how choosing different deductibles and can influence Lexus IS 250 insurance costs for each different age category. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Cost difference between full coverage and liability
The example below visualizes the comparison of Lexus IS 250 auto insurance rates with and without full coverage. The rates are based on no violations or accidents, $250 deductibles, drivers are single, and no discounts are factored in.
When to stop buying physical damage coverage
There is no set rule to stop buying full coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Lexus IS 250 settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after you pay the deductible. If it’s costing in excess of $200 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.
There are some cases where dropping physical damage coverage is not a good plan. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.
Get cheaper Lexus IS 250 insurance rates in Tulsa
Insurance is not inexpensive, but there could be significant discounts to help bring down the price. Most are applied when you quote, but some may not be applied and must be specifically requested in order for you to get them. If you’re not getting every credit you deserve, you’re paying more than you need to.
- Discounts for Cautious Drivers – Drivers who don’t get into accidents may receive a discount up to 45% than drivers with accidents.
- Professional Memberships – Participating in a civic or occupational organization in Tulsa can get you a small discount when shopping for insurance.
- Distant Student – Children who are attending college and won’t have access to an insured vehicle can receive lower rates.
- Tulsa Homeowners Pay Less – Owning a home in Tulsa may earn you a small savings because maintaining a house demonstrates responsibility.
- More Vehicles More Savings – Having all your vehicles on the same insurance policy can reduce rates for all insured vehicles.
- ABS Brakes – Cars that have anti-lock braking systems are much safer to drive and will save you 10% or more on IS 250 insurance in Tulsa.
- Sign Early and Save – Some insurance companies give discounts for buying a policy prior to the expiration date on your current IS 250 insurance policy. It can save you around 10%.
- Student Discounts – Getting good grades may save as much as 25% on a Tulsa car insurance quote. Most companies allow this discount until age 25.
A quick disclaimer, most of the big mark downs will not be given to the entire policy premium. Some only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.
The chart below shows the difference between Lexus IS 250 insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no claims or driving citations, Oklahoma state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-policy, multi-car, marriage, and homeowner discounts applied.
A few companies that may include some of the above discounts possibly include:
When quoting, ask all companies you are considering to apply every possible discount. Some credits may not be available in Tulsa. For a list of companies with discount rates in Oklahoma, click this link.
Comparing prices from local Tulsa insurance agents
A small number of people would rather talk to a local agent and that is a smart decision Professional insurance agents can make sure you are properly covered and help file insurance claims. An additional benefit of comparing rate quotes online is that you can find cheap insurance rates but also keep your business local. And supporting local insurance agents is still important in Tulsa.
For easy comparison, once you complete this short form, your insurance coverage information is immediately sent to local insurance agents in Tulsa who want to provide quotes to get your business. You don’t have to do any legwork because quoted prices will be sent directly to you. If you have a need to get a comparison quote from a specific company, you can always search and find their rate quote page to submit a rate quote request.
Exclusive and independent Tulsa auto insurance agents
If you would like to find a local Tulsa insurance agency, you need to know there are two different types of agents and how they are slightly different. Insurance agencies can be categorized as either exclusive or independent (non-exclusive). Either can write insurance policies, but it’s worth mentioning the differences since it could factor into the kind of agent you use.
Independent Agencies or Brokers
These agents are not required to write business for one company so as a result can place your coverage with a variety of different insurance companies and find you the best rates. If your agent finds better pricing, your agent can switch companies and the insured can keep the same agent.
If you need cheaper insurance rates, you need to include price quotes from at least one independent agent for the best price selection.
Shown below is a small list of independent insurance agents in Tulsa that may be able to give you price quotes.
Agents that elect to be exclusive can only provide one company’s prices such as Allstate and State Farm. Exclusive agents cannot compare other company’s rates so keep that in mind. Exclusive agencies are usually well trained on their company’s products which helps them sell insurance even at higher premiums.
Listed below is a list of exclusive agencies in Tulsa that can give you comparison quotes.
Choosing a insurance agency needs to be determined by more than just the premium amount. Here are some questions you should ask.
- Where would glass claims be handled in Tulsa?
- Is assistance available after office hours?
- What company holds the largest book of business for them?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- What discounts might you be missing?
- Do they make recommendations based only on price?
- Will they take your side in the event of a claim?
It’s not one size fits all
Keep in mind that when it comes to choosing adequate coverage for your personal vehicles, there really isn’t a one size fits all plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that
For instance, these questions could help you determine whether your personal situation could use an agent’s help.
- Is there a penalty for late payment?
- Can my babysitter drive my car?
- Do I have coverage when pulling a U-Haul trailer?
- I have a DUI can I still get coverage?
- How much liability insurance is required?
- Do I have coverage for damage caused while driving under the influence?
- At what point should I drop full coverage?
- What if a claim settlement is too low?
If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.
The coverage is in the details
Having a good grasp of car insurance helps when choosing appropriate coverage at the best deductibles and correct limits. Car insurance terms can be ambiguous and reading a policy is terribly boring. Shown next are the usual coverages found on the average car insurance policy.
Comprehensive coverage (or Other than Collision) – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things like theft, a tree branch falling on your vehicle, damage from a tornado or hurricane and hitting a bird. The maximum amount a car 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.
Uninsured Motorist or Underinsured Motorist insurance – This coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus IS 250.
Since many Oklahoma drivers have only the minimum liability required by law (25/50/25 in Oklahoma), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are identical to your policy’s liability coverage.
Auto liability insurance – This protects you from damages or injuries you inflict on other people or property by causing an accident. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.
Liability can pay for things like repair bills for other people’s vehicles, repair costs for stationary objects and funeral expenses. The amount of liability coverage you purchase is a personal decision, but you should buy as much as you can afford. Oklahoma requires drivers to carry at least 25/50/25 but it’s recommended drivers buy higher limits.
The illustration below demonstrates why low liability limits may not be adequate coverage.
Collision coverage – This pays to fix your vehicle from damage from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims such as backing into a parked car, colliding with a tree and driving through your garage door. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to increase the deductible on your IS 250 in order to get cheaper collision rates.
Insurance for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses such as surgery, funeral costs and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Cheap car insurance is out there
We just covered a lot of techniques to shop for Lexus IS 250 insurance online. The key thing to remember is the more you quote Tulsa car insurance, the more likely it is that you will get a better rate. You may even discover the best premium rates are with a smaller regional carrier. They can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.
When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. There are too many instances where an accident victim reduced collision coverage only to regret that they should have had better coverage. Your strategy should be to purchase plenty of coverage at an affordable rate while still protecting your assets.
Affordable Lexus IS 250 insurance in Tulsa is possible on the web and from local agencies, and you should be comparing both to have the best selection. Some car insurance companies do not provide online rate quotes and these smaller providers only sell through independent agents.
Steps to finding better rates for Lexus IS 250 insurance in Tulsa
If your goal is the lowest price, then the best way to find affordable quotes for auto insurance rates in Tulsa is to do a yearly price comparison from companies who provide car insurance in Oklahoma.
- Get an understanding of how companies set rates and the things you can control to prevent rate increases. Many risk factors that cause rate increases such as traffic citations and a negative credit history can be rectified by making minor driving habit or lifestyle changes.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agents can quote prices from multiple insurance companies. Find a Tulsa insurance agent
- Compare the new rates to your existing policy to see if a cheaper rate is available. If you find a lower rate and decide to switch, make sure there is no lapse in coverage.
The most important part of this process is to make sure you enter similar deductibles and liability limits on every price quote and and to get price quotes from every company you can. This helps ensure a fair rate comparison and a complete price analysis.
To read more, feel free to visit the following helpful articles:
- Teen Driving and Texting (State Farm)
- What Insurance is Cheapest for a Toyota Highlander in Tulsa? (FAQ)
- Who Has Affordable Car Insurance Rates for Unemployed Drivers in Tulsa? (FAQ)
- Who Has the Cheapest Tulsa Auto Insurance for a GMC Sierra? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Felons in Tulsa? (FAQ)
- Who Has Affordable Car Insurance Rates for Low Credit Scores in Tulsa? (FAQ)
- How Much is Car Insurance for Uninsured Drivers in Tulsa? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)