Auto Insurance Rates for a Lexus GS 350 in Honolulu

It’s an obvious statement that auto insurance companies don’t want you shop around. People who get comparison quotes once a year will presumably buy a different policy because there is a good probability of finding discount prices. A recent survey discovered that people who regularly shopped around saved about $3,400 over four years compared to drivers who don’t regularly compare prices.

If finding budget-friendly rates on car insurance is the reason you’re here, then having a grasp of the best way to compare coverages can help simplify the process.

If your goal is the lowest price, then the best way to quote cheaper Lexus GS 350 insurance is to compare prices annually from insurers that sell auto insurance in Honolulu. You can compare rates by completing these steps.

Step 1: Try to understand how companies set rates and the modifications you can make to keep rates in check. Many rating criteria that cause high rates like high-risk driving behaviors and a substandard credit score can be rectified by being financially responsible and driving safely.

Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while independent agents can quote prices for a wide range of companies.

Step 3: Compare the new rates to the price on your current policy to see if cheaper GS 350 coverage is available in Honolulu. If you find a better price and change companies, make sure there is no lapse in coverage.

Step 4: Provide notification to your current company to cancel the current policy and submit a signed application and payment to your new carrier. As soon as you have the new policy, keep the new certificate of insurance with your registration paperwork.

A valuable tip to remember is to make sure you’re comparing identical deductibles and limits on each quote and and to analyze every insurance company. Doing this guarantees a level playing field and a better comparison of the market.

Honolulu insurance discounts for a Lexus GS 350

Auto insurance is expensive, but there could be significant discounts that you may not even be aware of. Some discounts apply automatically when you complete an application, but occasionally some discounts must be asked about before they will apply.

• Driving Data Discount – Drivers that enable data collection to track where and when they drive remotely such as Drivewise from Allstate or Snapshot from Progressive may get a rate reduction as long as the data is positive.
• Homeowners Savings – Just owning your own home may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
• Safety Course Discount – Taking part in a class that teaches defensive driver techniques could earn you a small percentage discount and easily recoup the cost of the course.
• Discounts for New Vehicles – Buying a new car model can get you a discount compared to insuring an older model.
• No Charge for an Accident – This one isn’t a discount, but certain companies permit an accident without getting socked with a rate hike if your claims history is clear before the accident.
• Discounts for Multiple Vehicles – Buying a policy with all your vehicles on one policy can get a discount for every vehicle.

As a footnote on discounts, most discounts do not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though it sounds like adding up those discounts means a free policy, it doesn’t quite work that way.

The example below illustrates the comparison of Lexus GS 350 insurance costs with and without discounts applied. The costs are based on a male driver, no claims or driving citations, Hawaii state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, claim-free, safe-driver, homeowner, and marriage discounts applied.

Larger auto insurance companies and the discounts they provide can be found below.

• Farm Bureau policyholders can earn discounts including multi-vehicle, driver training, multi-policy, 55 and retired, youthful driver, safe driver, and renewal discount.
• State Farm has discounts for multiple policy, student away at school, anti-theft, Drive Safe & Save, good driver, and Steer Clear safe driver discount.
• Progressive discounts include multi-vehicle, continuous coverage, homeowner, good student, online signing, multi-policy, and online quote discount.
• Allstate may offer discounts for economy car, resident student, eSmart discount, defensive driver, early signing, auto/life discount, and premier plus.
• Nationwide offers discounts for business or organization, easy pay, Farm Bureau membership, family plan, multi-policy, defensive driving, and accident-free.
• MetLife may include discounts for good student, multi-policy, claim-free, defensive driver, accident-free, good driver

When quoting, ask each insurance company how you can save money. Some of the earlier mentioned discounts may not apply to policyholders in your state.

The quickest method to compare car insurance rates for Lexus GS 350 insurance in Honolulu is to take advantage of the fact auto insurance companies will pay a fee to give you rate quotes. The only thing you need to do is take a few minutes to give details like if you went to college, how much you drive, if a SR-22 is needed, and your occupation. Those rating factors is automatically sent to all major companies and you will receive price estimates instantly to find the best rate.

To get price quotes for your Lexus GS 350 now, click here and find out if lower rates are available in Honolulu.

The providers in the list below provide price quotes in Honolulu, HI. If more than one company is shown, we suggest you visit as many as you can to find the most affordable auto insurance rates.

Coverage statistics and figures

The premium information below covers estimates of insurance coverage prices for Lexus GS 350 models. Having a better understanding of how insurance prices are established can help you make decisions on which coverage to buy.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Estimates do not factor in specific location which can decrease or increase rates significantly.

Physical damage deductibles: Should you raise them?

When buying car insurance, a common question is the level to set your comp and collision deductibles. The comparisons below may help you to understand how much more rates are between high and low comp and collision deductibles. The first pricing table uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Rates do not factor in garaging location in Honolulu which can revise premiums significantly.

We can estimate from the data above that using a $250 deductible costs approximately $14 more each month or $168 for a full year than quoting the higher $500 deductible. Since you would have to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you average at least 18 months between claims, you would save more money if you choose the higher deductible.

An important thing to remember is that raising deductibles to save money results in having to pay to pay more out-of-pocket when you have to file a claim. You need to make sure you have enough disposable savings in order to pay the deductible.

Premiums by gender and age

The chart below compares Lexus GS 350 insurance costs for male and female drivers. The rate quotes are based on no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no other discounts are factored in.

How Insurance Companies Determine Lexus GS 350 Insurance Premiums

When buying car insurance it’s important to understand some of the things that are used to determine the rates you pay for car insurance. If you have some idea of what controls the rates you pay, this empowers consumers to make smart changes that may result in big savings.

• Having a spouse is a good thing – Your spouse helps lower the price when buying car insurance. Marriage may mean you are more responsible and it’s statistically proven that married couples file fewer claims.
• Liability coverage – A critical coverage on your policy, liability insurance is the protection when you are found to be at fault for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
• How credit rating affects car insurance rates – Having a bad credit rating is a large factor in calculating your car insurance rates. Drivers with excellent credit scores tend to file fewer claims and have better driving records as compared to drivers with lower credit ratings. So if your credit score can use some improvement, you could be paying less to insure your Lexus GS 350 by repairing your credit.
• Bundle policies and save money – Most major insurers allow lower prices to policyholders who consolidate policies with them in the form of a multi-policy discount. Even with this discount, it’s still a good idea to compare Lexus GS 350 rates in Honolulu to confirm you are receiving the best rates possible.

• Teenage driver insurance costs – More mature drivers tend to be more responsible, cost insurance companies less in claims, and usually have better credit. Teenage drivers have a tendency to be inattentive with other occupants in the car so car insurance rates are higher.

  The data below assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

• Does your vocation raise your premiums? – Jobs like military personnel, business owners, and stock brokers generally have higher rates than the rest of us because of job stress and long work days. Other occupations such as actors, students and homemakers have lower than average premiums.

• Don’t get traffic citations – Drivers with clean records receive lower rates as compared to those with violations. Only having one moving violation may increase your cost by twenty percent. Drivers who get flagrant violations such as hit and run, DWI or reckless driving convictions are required to file a SR-22 with the DMV in their state in order to continue driving.

  The chart below illustrates how violations and fender-benders drive up Lexus GS 350 auto insurance costs for each age group. The premiums are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.

• Lexus GS 350 claim statistics – Insurers include the past claim trends for vehicles when setting rates for each model. Models that historically have higher claim amounts or frequency will have higher rates for specific coverages. The table shown below demonstrates the insurance loss data for Lexus GS 350 vehicles.

  For each policy coverage, the statistical loss for all vehicles compiled together is equal to 100. Numbers below 100 mean the vehicle has better than average losses, while numbers that are greater than 100 point to more losses or an increased probability of a larger loss.

  
  

  Lexus GS 350 Insurance Claim Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lexus GS 350 4dr 2WD	160	78	190	81	107	79
  Lexus GS 350 4dr 4WD	169	90	217	91	85	68

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Which policy gives me the best coverage?

When it comes to a policy for your personal vehicles, there really isn’t a “best” method to buy coverage. Everyone’s situation is a little different and your policy should reflect that. These are some specific questions may help highlight whether your personal situation may require specific advice.

• Is my trailer covered?
• Should I rate my Lexus GS 350 as pleasure use or commute?
• Do all my vehicles need collision coverage?
• Is a new car covered when I drive it off the dealer lot?
• Is there a penalty for late payment?
• If my car is totaled with they pay enough to replace it?
• Why am I required to get a high-risk car insurance policy?
• Does my car insurance cover rental cars?
• Am I covered when delivering products for my home-based business?

If you’re not sure about 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 you can get the answers you need.

Insurance agencies can help

Certain consumers still like to talk to an insurance agent and we recommend doing that Professional agents can point out coverage gaps and help you file claims. An additional benefit of getting free rate quotes online is you may find cheap car insurance rates but still work with a licensed agent. Buying from local insurance agencies is important especially in Honolulu.

By using this form (opens in new window), the coverage information is sent to local insurance agents in Honolulu who will return price quotes for your business. You won’t need to do any legwork because quoted prices will be sent straight to your inbox. If you want to compare rates for a specific company, you would need to navigate to their website to submit a rate quote request.

Do you need an independent or exclusive car insurance agent?

When finding a local agent, it can be helpful to understand the different types of agents from which to choose. Agents in Honolulu can be described as either exclusive or independent agents depending on their company appointments. Both types of agents can write car insurance policies, but it’s worth learning the differences because it may have an impact on the kind of agent you use.

Independent Agents (or Brokers)

Independent insurance agents often have many company appointments and that allows them to write policies with lots of companies and help determine which has the cheapest rates. If premiums increase, your policy is moved internally which requires no work on your part.

When comparison shopping, you definitely need to get some free quotes from several independent agencies to get the best comparison.

Shown below are independent insurance agencies in Honolulu that can possibly get you competitive price quotes.

More Honolulu agents

Exclusive Insurance Agents

Agents that elect to be exclusive work for only one company such as Allstate, State Farm and Farm Bureau. They are unable to shop your coverage around so always compare other rates. They are usually well trained on their company’s products and that allows them to sell at a higher price point.

Listed below are exclusive insurance agents in Honolulu who can help you get comparison quotes.

More Honolulu agents

Choosing the best auto insurance agent requires more thought than just a low price. These are valid questions to ask:

• How long have they worked with personal auto insurance coverage?
• When do they do policy reviews?
• Do you qualify for any additional discounts?
• How long have they been in business?
• Who is covered by the car insurance policy?
• Does the agency provide any after hours assistance?
• Will they give you a referral list?
• What insurance companies do they work with in Honolulu?

After talking to the agent and getting acceptable answers as well as a affordable price, it’s a good possibility that you have found an insurance agent that will properly service your car insurance policy.

Protect more than your Lexus GS 350

Despite the fact that insurance is not cheap in Honolulu, buying insurance may be required and benefits you in several ways.

• Most states have mandatory insurance requirements which means the state requires a specific level of liability in order to drive the car. In Hawaii these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you have a lien on your GS 350, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank may buy a policy for your Lexus for a lot more money and require you to reimburse them much more than you were paying before.
• Insurance protects both your assets and your Lexus. It also can pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability insurance also covers legal expenses if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage.

The benefits of having insurance greatly outweigh the cost, specifically if you ever have a liability claim. Unknowingly, the average driver is wasting up to $700 annually so you should quote and compare rates each time the policy renews to save money.

Auto insurance savings summarized

In this article, we covered a lot of tips how to lower your Lexus GS 350 insurance prices in Honolulu. It’s most important to understand that the more times you quote, the better likelihood of getting affordable Lexus GS 350 insurance quotes. Consumers may even find the lowest prices are with a smaller regional carrier. These smaller insurers can often provide lower rates in certain areas as compared to the big name companies such as Progressive or GEICO.

Budget-conscious Lexus GS 350 insurance can be purchased on the web and also from your neighborhood Honolulu agents, so you need to quote Honolulu car insurance with both so you have a total pricing picture. Some insurance companies may not provide price quotes online and these regional insurance providers only sell through local independent agents.

Even more information is available by following these links:

• Vehicle Insurance (Wikipedia)
• Who Has Affordable Car Insurance for Hybrid Vehicles in Honolulu? (FAQ)
• Who Has the Cheapest Auto Insurance Quotes for a Toyota Highlander in Honolulu? (FAQ)
• How Much are Auto Insurance Quotes for a Hyundai Elantra in Honolulu? (FAQ)
• Insurance losses by make and model (Insurance Institute for Highway Safety)
• Anti-Lock Brake FAQ (iihs.org)
• Prom Night Tips for Teen Drivers (State Farm)