Did a good deal turn into an overpriced auto insurance policy? Trust us when we tell you you’re not the only one.
Unbelievable but true according to a study most auto insurance customers have purchased from the same company for well over three years, and nearly 40% of drivers have never even compared rates from other companies. Consumers in Nevada could save an average of roughly 35% each year, but they just assume it’s a time-consuming process to compare rates and save money. Popular companies such as State Farm and GEICO constantly blast consumers with catchy ads and it is difficult to see through the deception and find the best price available.
You should make it a habit to get comparison quotes before your next renewal because prices go up and down regularly. Even if you got the best deal on Lexus IS 250 insurance in Henderson two years ago a different company probably has better rate quotes today. There is too much inaccurate information about IS 250 insurance on the internet, but in a few minutes you can learn a bunch of ideas how to put money back in your pocket.
If you are insured now or are looking for a new policy, use these techniques to reduce the price you pay without having to cut coverage. Buying affordable insurance in Henderson is actually very simple if you learn how to start. You only need an understanding of how to compare rate quotes using one simple form.
Insurance Premium Influencing Factors
Smart consumers have a good feel for a few of the rating criteria that help calculate the rates you pay for insurance. If you have a feel for what determines base rates, this helps enable you to make changes that can help you get lower insurance prices. Many factors are used when you get your auto insurance bill. A few of the factors are predictable like a motor vehicle report, but others are more obscure such as your credit history or how financially stable you are.
- If you don’t need it don’t buy it – Insurance companies have many additional extra coverages that you can get tricked into buying if you aren’t diligent. Coverages for rental car coverage, towing, and extra equipment coverage are examples of these. These may sound like a good investment at first, but if you’ve never needed them in the past remove them from your policy.
Men tend to take more risk – Statistics have proven women are more cautious behind the wheel. This data doesn’t prove that females are better at driving than males. They both tend to get into accidents in similar numbers, but the male of the species get into accidents with more damage. Men also statistically get more serious tickets like DUI and reckless driving. Young men ages 16 to 20 are several times more likely to be in an accident and thus pay the highest rates.
The example below visualizes the comparison of Lexus IS 250 yearly insurance costs for male and female drivers. The costs are based on a clean driving record, no claims, full physical damage coverage, $100 deductibles, single marital status, and no discounts are applied.
- How do annual miles impact prices? – The higher the mileage driven in a year the more you will pay for insurance. The majority of insurers rate vehicles determined by how the vehicle is used. Vehicles that sit idle most of the time get more affordable rates as compared to vehicles used primarily for driving to work. It’s always a good idea to double check that your declarations sheet shows how each vehicle is driven. Improper usage on your IS 250 may be costing you.
- A insurance policy lapse can increase rates – Going without insurance will be a sure-fire way to increase your renewal premiums. And not only will insurance be more expensive, being ticketed for driving with no insurance could earn you a revoked license or a big fine.
- Your stress level may be raising your rates – Do you have a high-stress occupation? Jobs like doctors, police officers, and stock brokers generally pay the highest rates due to job stress and incredibly demanding work hours. On the flip side, jobs like scientists, athletes and retirees receive lower rates.
Cautious drivers pay better premiums – Your driving citation history can have a huge impact on auto insurance premiums. Getting just one chargeable violation can increase rates by as much as thirty percent. Careful drivers have lower premiums as compared to those with violations. Drivers who get flagrant tickets like reckless driving, hit and run or driving under the influence may face state-mandated requirements to maintain a SR-22 to the state department of motor vehicles in order to legally drive.
The example below shows how speeding tickets and accident claims drive up Lexus IS 250 annual premium costs for different age groups of insureds. The information is based on a married male driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.
- Alarm systems save money – Owning a car with a theft deterrent system can get you a discount on your insurance. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help prevent auto theft.
Expect high rates for teens – Youthful drivers in Nevada have been known to be more careless when at the wheel of a vehicle so insurance rates are higher. More mature drivers are shown to be more cautious, are lower risk to insure, and tend to be get fewer driving tickets.
The chart below is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Insurance loss data for Lexus IS 250 vehicles – Insurance companies use past insurance losses when determining insurance rates. Vehicles that historically have higher claim frequency or loss amount will be charged more to insure. The next table shows the insurance loss data used by companies for Lexus IS 250 vehicles.
For each policy coverage, the claim probability for all vehicles, regardless of make or model, is set at 100. Percentage values below 100 are indicative of better than average losses, while numbers above 100 point to more claims or an increased probability of a larger loss.
Insurance Loss Ratings for Lexus IS 250 Vehicles Vehicle Make and 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The auto insurance companies shown below can provide free quotes in Nevada. To buy the best cheap auto insurance in Nevada, we suggest you visit two to three different companies in order to get a fair rate comparison.
Coverage statistics and figures
The premium table shown below showcases detailed analysis of insurance premium costs for Lexus IS 250 models. Having a good grasp of how policy premiums are calculated can help guide drivers when making informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$258||$616||$340||$20||$102||$1,336||$111|
|IS 250 AWD 4-Dr||$288||$616||$340||$20||$102||$1,366||$114|
|IS 250 C 2-Dr Convertible||$288||$616||$400||$24||$120||$1,448||$121|
|Get Your Own Custom Quote Go|
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in specific location which can modify insurance rates greatly.
Full coverage rates compared to liability-only
The illustration below shows the comparison of Lexus IS 250 insurance rates when comparing full coverage to liability only. The costs are based on no tickets, no at-fault accidents, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
Should you be buying full coverage?
There isn’t a steadfast formula of when to eliminate comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your Lexus IS 250 replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying your policy deductible. If it’s costing in excess of $800 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
There are some situations where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Car insurance is an important decision
Despite the potentially high cost of Lexus IS 250 insurance, insurance is mandatory in Nevada but it also protects more than you think.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability protection in order to be legal. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your Lexus, almost every bank will have a requirement that you buy insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank will be required to insure your Lexus for a lot more money and make you pay much more than you were paying before.
- Car insurance protects not only your car but also your assets. Insurance will also pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of an accident. If your Lexus gets damaged, collision and comprehensive coverages will cover the repair costs.
The benefits of insuring your car definitely exceed the cost, especially if you ever need it. According to a 2015 survey, the average American driver is wasting up to $820 a year so you should quote and compare rates once a year at a minimum to help ensure money is not being wasted.
Get cheaper Lexus IS 250 insurance in Henderson with discounts
Some companies don’t always list all their discounts very clearly, so below is a list a few of the more common in addition to some of the lesser obvious discounts that you can inquire about if you buy Henderson auto insurance online.
- Government Employee Discount – Simply working for the federal government could qualify for a slight premium decrease with certain companies.
- Paper-free Discount – A few insurance companies may give you up to $50 for buying your policy on the internet.
- Buy New and Save – Insuring a vehicle that is new can save you some money because newer vehicles keep occupants safer.
- Claim Free – Drivers who don’t have accidents have much lower rates when compared with drivers who are more careless.
- Discounts for Responsible Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates as compared to drivers with claims.
- Payment Method – By making one initial payment rather than paying monthly you could save 5% or more.
- Driver Safety – Taking part in a course that instructs on driving safety could possibly earn you a 5% discount and make you a better driver.
- Discount for Life Insurance – Larger insurance companies have a lower rate if you buy life insurance.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to fasten their seat belts may be able to save a few bucks on medical payment and PIP coverage.
- Organization Discounts – Having an affiliation with a professional or civic organization may earn a discount on your next renewal.
It’s important to note that most discounts do not apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates adding up those discounts means a free policy, that’s just not realistic. Any amount of discount will cut the premium cost.
The chart below shows the comparison of Lexus IS 250 auto insurance rates with and without discounts being applied to the rates. The price estimates are based on a female driver, no driving violations, no at-fault accidents, Nevada state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, marriage, claim-free, homeowner, and multi-policy discounts applied.
Large insurance companies and their offered discounts are outlined below.
- State Farm offers discounts including good student, multiple policy, anti-theft, Drive Safe & Save, passive restraint, and safe vehicle.
- GEICO includes discounts for military active duty, anti-theft, federal employee, membership and employees, driver training, and anti-lock brakes.
- SAFECO discounts include drive less, homeowner, teen safe driver, teen safety rewards, multi-car, anti-lock brakes, and anti-theft.
- Farmers Insurance may include discounts for business and professional, youthful driver, early shopping, teen driver, and good student.
- AAA has discounts for good driver, education and occupation, pay-in-full, multi-policy, and multi-car.
- USAA offers discounts for defensive driver, multi-policy, loyalty savings, vehicle storage, good student, and driver training.
When getting a coverage quote, ask all the companies which discounts they offer. Some discounts listed above may not apply to policies in Henderson.
Local Henderson insurance agencies
Some people just prefer to sit down and talk to an agent and that is recommended in a lot of cases Licensed agents are very good at helping people manage risk and give you someone to call. One of the great benefits of price shopping on the web is that you can find lower car insurance rates and still buy from a local agent. Buying from local agencies is still important in Henderson.
After completing this form (opens in new window), the quote information is instantly submitted to insurance agents in Henderson that give free quotes for your insurance coverage. There is no need to even leave your home since price quotes are sent to the email address you provide. If for some reason you want to get a rate quote from a specific insurance company, don’t hesitate to visit that company’s website and give them your coverage information.
When researching an insurance agent, you need to know there are two different types of agencies to choose from. Agencies in Henderson may be either independent agents or exclusive agents. Both types can sell and service insurance coverage, but it’s good to learn how they differ because it can influence the kind of agent you use.
Independent Insurance Agencies or Brokers
Independent insurance agents are not required to write business for one company and that allows them to write policies with lots of companies and find you cheaper rates. If premiums increase, your policy is moved internally and you don’t have to do anything.
If you are comparing insurance prices, you will want to get quotes from multiple independent agents for maximum quote selection.
Below is a small list of independent insurance agents in Henderson that can give you cheap rate quotes.
Nikkol Jackson Insurance Agency
701 N Green Valley Pkwy #200 – Henderson, NV 89074 – (702) 451-9799 – View Map
Exclusive Insurance Agencies
Exclusive agents can only provide pricing for a single company such as State Farm, Allstate and AAA. Exclusive agents are unable to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are usually quite knowledgeable on the products they sell which helps offset the inability to provide other markets.
The following are Henderson exclusive insurance agents that are able to give comparison quotes.
Choosing the best insurance agent should depend on more than just the quoted price. Here are some questions you should ask.
- Do they receive special compensation for putting your coverage with one company over another?
- Are they properly licensed to sell insurance in Nevada?
- Are claim adjusters local or do you have to take your car somewhere else?
- Will they make sure you get an adequate claim settlement?
- Do they review policy coverages at every renewal?
- Does the company allow you to choose your own collision repair facility?
- By raising physical damage deductibles, how much would you save?
- Do they assist clients in filing claims?
After you get acceptable answers to these questions as well as a affordable price, you’ve probably found an insurance agent that can be trusted to properly service your insurance policy.
Which auto insurance company is best in Nevada?
Selecting the best car insurance company can be difficult considering how many companies there are to choose from in Henderson. The ranking information below could help you select which coverage providers to look at comparing price quotes from.
Top 10 Henderson Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- 21st Century – 88%
- Liberty Mutual – 88%
- Allstate – 88%
Top 10 Henderson Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+
Insurance agents can help
When it comes to choosing coverage for your vehicles, there really is not a single plan that fits everyone. Your needs are unique to you.
Here are some questions about coverages that might help in determining whether you may require specific advice.
- Are my custom wheels covered?
- Do I need to call my car insurance company before buying a new car?
- Where can I find DUI or SR-22 insurance?
- When should I drop full coverage on my Lexus IS 250?
- Do I need PIP (personal injury protection) coverage in Nevada?
- Should I carry comprehensive and collision coverage?
- Does coverage follow the driver or the vehicle?
If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find an agent in your area, fill out this quick form. It’s fast, doesn’t cost anything and you can get the answers you need.
Be persistent to save money
While you’re price shopping online, don’t be tempted to reduce coverage to reduce premium. In many instances, someone dropped collision coverage and discovered at claim time that it was a big error on their part. The aim is to buy the best coverage you can find at the best cost while still protecting your assets.
We just showed you a lot of techniques to get a better price on Lexus IS 250 insurance in Henderson. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding affordable Henderson auto insurance quotes. Consumers could even find that the lowest premium rates are with a company that doesn’t do a lot of advertising.
Drivers leave their current company for many reasons like delays in responding to claim requests, extreme rates for teen drivers, an unsatisfactory settlement offer and delays in paying claims. Regardless of your reason for switching companies, switching car insurance companies can be easier than you think.
How to find cheaper quotes for Lexus IS 250 insurance in Henderson
It takes a little time, but the best way to get more affordable Lexus IS 250 insurance is to do an annual price comparison from insurers in Henderson.
- Step 1: Spend a few minutes and learn about how insurance companies determine prices and the measures you can take to prevent rate increases. Many policy risk factors that result in higher rates such as careless driving and your credit history can be improved by paying attention to minor details.
- Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only provide price estimates from one company like Progressive or Allstate, while independent agents can provide rate quotes for a wide range of insurance providers.
- Step 3: Compare the quotes to your existing policy and see if there is a cheaper rate. If you can save some money and switch companies, ensure coverage does not lapse between policies.
- Step 4: Give notification to your agent or company of your intention to cancel the current policy. Submit a completed application and payment to your new insurance company. Don’t forget to put the proof of insurance paperwork in a readily accessible location in your vehicle.
A valuable tip to remember is that you use identical coverage information on every price quote and and to analyze as many different companies as possible. This provides the most accurate price comparison and a thorough selection of prices.
For more information, feel free to browse these articles:
- Teen Driving Statistics (GEICO)
- Who Has Affordable Henderson Auto Insurance for a Chevrolet Equinox? (FAQ)
- Who Has the Cheapest Henderson Auto Insurance for Low Mileage Drivers? (FAQ)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Reducing Your Risks in a Car Crash Video (iihs.org)