How many times have you told yourself it’s time to shop around for cheaper Lexus RX 350 insurance in Denver? Do you get confused by the wide range of insurance choices in Denver? Lot’s of other drivers are too. Colorado people have so many choices that it can really be a challenge to compare rates on Lexus RX 350 insurance. If you’ve ever been there, you know that Denver is an excellent city in which to live, but inflated insurance prices can make it hard for many residents to maintain proper levels of coverage.
It’s shocking but most insurance customers have stayed with the same insurance company for at least the last four years, and virtually 40% of consumers have never compared insurance rates at all. Most drivers in Colorado could save an average of up to 35% each year, but most undervalue how much savings they would realize if they replace their high priced policy.
Locating the most cost-effective auto insurance policy in Denver can initially seem challenging. Just about anyone who compares rate quotes for auto insurance should be able to save money. Although Colorado consumers must learn the methods companies use to determine what you pay because rates are impacted by many factors.
Companies offering Lexus RX 350 insurance in Colorado
The companies in the list below are ready to provide price quotes in Colorado. If several companies are displayed, it’s a good idea that you get rates from several of them to get the most competitive price.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $328 | $702 | $516 | $30 | $154 | $1,730 | $144 |
| RX 350 4WD | $204 | $382 | $404 | $24 | $122 | $1,136 | $95 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Premium amounts do not factor in specific Denver garaging location which can change coverage rates significantly.
Reckless driving habits raise car insurance rates
The example below demonstrates how citations and at-fault claims drive up Lexus RX 350 premium costs for different age groups. The rates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.
Where to set your deductibles
The chart below demonstrates how choosing different deductibles and can change Lexus RX 350 yearly insurance costs for different age groups. The rate quotes are based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Should you buy full coverage?
The information below shows the difference between Lexus RX 350 yearly insurance costs with full coverage compared to only the Colorado minimum liability coverage. The rates are based on no accidents or driving violations, $500 deductibles, single female driver, and no discounts are applied.
Should you buy full coverage or liability only?
There is no clear-cut rule to delete comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s say your Lexus RX 350 claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after the deductible is paid. If it’s costing in excess of $300 annually to have full coverage, then it might be time to consider dropping full coverage.
There are a few situations where only buying liability is not a good idea. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan requirements. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not buy liability only.
Insurance discounts are available to lower rates
Companies do not advertise all their discounts very clearly, so we researched some of the more common as well as some of the hidden credits available to lower your premiums when you buy Denver auto insurance online.
- Payment Method – If you pay your bill all at once rather than paying monthly you can avoid monthly service charges.
- Sign Early and Save – Some companies give discounts for buying a new policy prior to your current RX 350 insurance policy expiring. This discount can save up to 10%.
- Driving Data Discount – Policyholders that allow companies to study driving habits by using a telematics device like Drivewise from Allstate or In-Drive from State Farm may see discounts if they exhibit good driving behavior.
- Drivers Education – It’s a good idea to have your young drivers complete a driver education course in high school.
- Anti-theft Discount – Cars, trucks, and SUVs with anti-theft systems have a lower chance of being stolen and earn discounts up to 10% off your Denver auto insurance quote.
While discounts sound great, it’s important to understand that most credits do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as liability and collision coverage. So when the math indicates all the discounts add up to a free policy, company stockholders wouldn’t be very happy. But any discount will definitely reduce the amount you pay for coverage.
Some companies that may offer policyholders most of these discounts may include but are not limited to:
Before purchasing a policy, check with each insurance company how you can save money. All car insurance discounts may not apply in every state. To choose insurers that offer the discounts shown above in Colorado, click this link.
Get Cheap Insurance Rates by Understanding These Factors
One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that go into determining your car insurance rates. If you have a feel for what determines base rates, this empowers consumers to make smart changes that can earn you better car insurance rates.
The list below includes some of the most common factors used by companies to determine your premiums.
Extra policy coverages push up prices – Policies have add-on coverages you can purchase if you aren’t diligent. Add-on coverages like rental car coverage, death and dismemberment, and additional equipment coverage are examples of these. These coverages may sound good when discussing your needs, but if they’re wasting money remove them and pocket the money.
Liability insurance claims can be big – Your car insurance policy’s liability coverage will provide protection in the event that you are found liable for damages caused by your negligence. Your liability coverage provides you with a defense in court which can cost thousands of dollars. Liability is cheap when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Being married can save on car insurance – Being married can actually save you money on your car insurance bill. Marriage may mean you are more mature and it’s statistically proven that married drivers tend to have fewer serious accidents.
Bad credit will cost you – An insured’s credit score can be a huge factor in calculating your car insurance rates. Consumers who have high credit scores tend to file fewer claims and have better driving records than those with lower credit ratings. So if your credit is low, you may save money insuring your Lexus RX 350 by taking the time to improve your credit score.
No policy lapses lowers car insurance rates – Driving without insurance is a big no-no and any future policy may cost more because you let your coverage cancel without a new policy in place. Not only will rates go up, the inability to provide proof of insurance can result in a hefty fine and possibly a revoked license. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Colorado department of motor vehicles.
Better drivers pay the best premiums – Your driving record has a lot to do with how much you pay for insurance. Getting just one speeding ticket or other violation may cause rates to rise by as much as thirty percent. Drivers who don’t get tickets pay less for auto insurance than their less careful counterparts. People who have flagrant citations such as reckless driving, hit and run or driving under the influence may be required to prove financial responsibility with their state motor vehicle department in order to legally drive.
Lexus RX 350 historical loss data – Companies include the past claim history for a vehicle as a way to help calculate a profitable premium price. Models that historically have higher prevalence or dollar amount of losses will be charged more to insure. The next table illustrates the historical loss data for Lexus RX 350 vehicles.
For each policy coverage type, the claim probability for all vehicles compiled together is considered to be 100. Numbers under 100 indicate a favorable loss history, while numbers above 100 indicate higher probability of having a loss or an increased likelihood of larger losses.
Insurance Loss Ratings for Lexus RX 350 Vehicles
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lexus RX 350 4dr 2WD | 111 | 96 | 91 | 72 | 97 | 88 |
| Lexus RX 350 4dr 4WD | 122 | 99 | 112 | 83 | 75 | 78 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to have guidance from a local insurance agent
Many people would rather get professional advice from a licensed agent and that can be a smart move The biggest benefit of getting free rate quotes online is that drivers can save money and get cheaper rates and still choose a local agent.
Once you complete this form (opens in new window), your information is emailed to local insurance agents in Denver that can give you free Denver auto insurance quotes for your coverage. It makes it easy because there is no need to search for any insurance agencies due to the fact that quote results will go to you instantly. You can get cheaper car insurance rates AND a local agent. If for some reason you want to get a comparison quote from one company in particular, feel free to jump over to their website and fill out the quote form the provide.
Finding the right provider should depend on more than just the price. The following questions are important to ask.
- How would your car be valued if totalled?
- Do they specialize in personal lines coverage in Denver?
- Is the coverage adequate for your vehicle?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Is their price quote a firm figure or are their hidden costs?
Denver auto insurance agents come in two flavors
When researching a local Denver insurance agent, it’s important to understand the types of insurance agents and how they are slightly different. Insurance agencies in Denver are considered either exclusive agents or independent agents.
Exclusive Car Insurance Agencies
Exclusive agencies have only one company to place business with and some examples include Allstate, State Farm and Farmers Insurance. Exclusive agents cannot provide rate quotes from other companies so they have no alternatives for high prices. Exclusive insurance agents receive extensive training on their company’s products and that can be a competitive advantage. Consumers frequently purchase coverage from exclusives partially due to the brand and the convenience of having all coverages with one company.
The following is a short list of exclusive insurance agents in Denver that can give you price quotes.
- Val Laskowski – State Farm Insurance Agent
5353 W Dartmouth Ave #410 – Denver, CO 80227 – (303) 987-8849 – View Map - Stephanie Sponder – State Farm Insurance Agent
671 E 19th Ave – Denver, CO 80203 – (303) 744-0757 – View Map - Beth Bales – State Farm Insurance Agent
3650 S Yosemite St #408 – Denver, CO 80237 – (303) 993-2727 – View Map
Independent Car Insurance Agents
Agents in the independent channel do not work for one specific company so they can quote policies amongst many companies and find you the best rates. To move your coverage to a new company, your agent can switch companies which requires no work on your part.
When comparing rate quotes, we recommend you get some free quotes from several independent agencies in order to have the best price comparison. Most have the option of insuring with mutual insurance companies which may provide better rates.
Shown below is a list of independent insurance agencies in Denver who can help you get comparison quotes.
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd – Denver, CO 80219 – (303) 975-1229 – View Map - Affordable American Insurance-Lloyd Nguyen Agency
1834 S Sheridan Blvd – Denver, CO 80232 – (303) 936-7233 – View Map - Gonzalez Insurance Agency
6450 E Colfax Ave – Denver, CO 80220 – (303) 320-4901 – View Map
After you get positive feedback to any questions you may have in addition to an acceptable price estimate, you may have just found an insurance agent that is reputable and can provide car insurance coverage. But keep in mind consumers can terminate coverage for any reason so don’t feel that you are permanently stuck with any particular company with no way to switch.
Don’t give up on cheap rates
More affordable insurance in Denver is available from both online companies and from local agencies, and you should compare rates from both in order to have the best chance of saving money. Some insurance companies don’t offer online rate quotes and most of the time these regional insurance providers prefer to sell through independent agencies.
When searching for affordable Lexus RX 350 insurance quotes, do not skimp on coverage in order to save money. There have been many situations where an insured cut uninsured motorist or liability limits and found out when filing a claim they didn’t purchase enough coverage. Your focus should be to purchase plenty of coverage at the best possible price and still be able to protect your assets.
In this article, we presented some good ideas how to find lower-cost Lexus RX 350 insurance in Denver. The key thing to remember is the more you quote Denver auto insurance, the higher the chance of saving money. Consumers may even find the most savings is with a small mutual company.
More information
- Choosing a Car for Your Teen (State Farm)
- Collision Insurance Coverage (Nationwide)
- Auto Insurance Basics (Insurance Information Institute)
- How do I File a Claim? (Insurance Information Institute)
- Get the Right Protection (InsureUonline.org)