Save Money on Lexus RX 350 Insurance in Cincinnati

It’s astonishing, but the majority of drivers kept their coverage with the same car insurance company for a minimum of four years, and nearly half have never quoted rates to find lower-cost coverage. With the average car insurance premium being $1,300, Ohio drivers can save hundreds of dollars each year just by getting comparison quotes, but they assume it’s a waste of time to shop around.

If your goal is the lowest price, then the best way to get budget Lexus RX 350 insurance in Cincinnati is to regularly compare price quotes from insurance carriers in Ohio.

First, spend a few minutes and learn about how auto insurance works and the changes you can make to drop your rates. Many rating factors that cause high rates such as traffic violations, accidents, and an imperfect credit rating can be amended by making minor driving habit or lifestyle changes.

Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like GEICO or State Farm, while independent agents can provide rate quotes for a wide range of companies.

Third, compare the new rate quotes to your current policy premium to see if a cheaper price is available. If you find a lower rate quote and decide to switch, ensure coverage does not lapse between policies.

Fourth, tell your current agent or company of your intent to cancel your current car insurance policy and submit the signed application along with the required initial payment for the new policy. Be sure to safely store the certificate verifying proof of insurance in an accessible location in your vehicle.

An essential thing to point out is to use identical limits and deductibles on each quote request and and to get prices from all possible companies. Doing this guarantees an accurate price comparison and a complete price analysis.

Low cost Lexus RX 350 insurance prices in Cincinnati, Ohio

Getting a low cost price on Lexus RX 350 insurance is an easy way to save money. You just need to invest a little time to compare rate quotes to find out which insurance company has inexpensive Cincinnati car insurance quotes.

It’s so simple to compare car insurance quotes online replaces the need to physically go to insurance agents’ offices. Buying insurance online can eliminate the need for a local agent unless you require the trained advice of a local Cincinnati agent. It is possible with some companies comparison shop your insurance online but buy the policy through an agent.

The auto insurance companies shown below are ready to provide quotes in Ohio. If multiple companies are listed, we recommend you compare several of them to get a more complete price comparison.

It may be expensive, but it’s not optional

Despite the high cost, buying insurance is required for several reasons.

First, most states have mandatory insurance requirements which means state laws require a specific level of liability insurance coverage in order to drive the car legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if your RX 350 has a loan, most lenders will have a requirement that you have full coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank may buy a policy for your Lexus at a significantly higher premium and force you to pay the higher price.

Third, insurance preserves your car and your assets. It will also reimburse you for medical bills incurred in an accident. Liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.

The benefits of insuring your RX 350 more than cancel out the cost, specifically if you ever have a liability claim. Unknowingly, the average driver is wasting up to $825 a year so it’s recommended you shop around each time the policy renews to ensure rates are inline.

Insurance rate breakdown

The table below highlights different insurance premium costs for Lexus RX 350 models. Having a better understanding of how insurance policy rates are determined helps drivers make decisions when shopping your coverage around.

Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Premium amounts do not factor in specific location which can raise or lower coverage rates greatly.

Policy deductible comparison

When buying car insurance, a common question is at what level do you set your deductibles. The following insurance rates may aid in understanding the rate fluctuation between low and high insurance deductibles. The first data table uses a $250 deductible for comprehensive and collision coverage and the second data table uses a $500 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Prices do not factor in vehicle location which can decrease or increase price quotes noticeably.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs an average of $12 more each month or $144 annually averaged for all RX 350 models than requesting the higher $500 deductible. Because you would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 21 months between claim filings, you would probably come out ahead if you elect the higher deductible. The illustration below shows how you can do this calculation yourself.

One thing to be aware of is that raising deductibles to get cheaper rates results in a higher out-of-pocket expense when you do file a claim. You need to make sure you have access to more funds in order to pay more for the deductible.

Drive safe and save

The chart below shows how traffic citations and fender-benders can drive up Lexus RX 350 insurance premiums for each different age category. The data assumes a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.

Cost difference between full coverage and liability

The chart below visualizes the comparison of Lexus RX 350 car insurance costs with full physical damage coverage and with liability coverage only. The rate quotes are based on no tickets, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are applied.

When to buy liability coverage only

There isn’t a steadfast formula for phasing out comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s assume your Lexus RX 350 book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after you pay the deductible. If it’s costing you more than $600 a year for physical damage coverage, then you might want to think about dropping full coverage.

There are some cases where removing full coverage is not advised. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.

Take these seven policy discounts and save on Lexus RX 350 insurance in Cincinnati

Companies offering auto insurance do not advertise all possible discounts very clearly, so here is a list a few of the more well known and also the more inconspicuous credits that you can use to lower your rates.

• Seat Belt Discounts – Using a seat belt and requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
• Discounts for Safe Drivers – Insureds who avoid accidents could pay up to 40% less compared to accident prone drivers.
• Drivers Education – Cut your cost by having your teen driver take driver’s ed class if it’s offered in school.
• Driving Data Discount – Drivers that enable their insurance company to scrutinize where and when they drive by using a small device installed in their vehicle such as Progressive’s Snapshot may get a rate reduction if they exhibit good driving behavior.
• Club Memberships – Being in a qualifying organization is a simple method to lower premiums when getting a Cincinnati car insurance quote.
• No Claims – Insureds who avoid accidents and claims pay much less as compared to frequent claim filers.
• Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and will qualify for a discount on a Cincinnati car insurance quote.

A quick disclaimer, most credits do not apply to your bottom line cost. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like having all the discounts means you get insurance for free, companies don’t profit that way.

The chart below compares Lexus RX 350 insurance premiums with and without discounts applied. The premiums assume a male driver, no tickets, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, claim-free, multi-policy, marriage, and safe-driver discounts applied.

To view insurance companies who offer online Lexus RX 350 insurance quotes in Cincinnati, follow this link.

Neighborhood Cincinnati auto insurance agents

Certain consumers just prefer to sit down with an agent and that is just fine! Insurance agents will help you protect your assets and help submit paperwork. The best thing about comparing insurance prices online is that you can find the lowest rates and still have an agent to talk to. Putting coverage with local agents is important particularly in Cincinnati.

By using this simple form, your insurance data is emailed to local insurance agents in Cincinnati who will give you bids for your insurance coverage. You won’t even need to find an agent because quoted prices will be sent immediately to you. If you want to get a rate quote from a specific company, feel free to go to their quote page to submit a rate quote request.

Exclusive and independent Cincinnati car insurance agents

If you are wanting to purchase car insurance from a reliable insurance agent, it helps to know the two types of agencies and how they function. Agents can be categorized as either independent (non-exclusive) or exclusive. Either can provide car insurance policies, but we need to point out the difference in the companies they write for since it could factor into which type of agent you select.

Independent Agents (or Brokers)

Agents that choose to be independent can quote rates with many companies so as a result can place your coverage with any number of different companies and find you cheaper rates. If they quote lower rates, the business is moved internally which is easy for the insured.

If you are comparing car insurance prices, you absolutely need to include price quotes from several independent agencies to get the most accurate price comparison.

The following is a small list of independent agencies in Cincinnati who can help you get free car insurance quotes.

More Cincinnati agents

Exclusive Insurance Agents

Exclusive insurance agents can only place business with one company and some examples include Farmers Insurance or State Farm. These agents are unable to give you multiple price quotes so always compare other rates. Exclusive agents are well schooled on sales techniques and that can be a competitive advantage.

Listed below are exclusive insurance agencies in Cincinnati willing to provide price quotes.

More Cincinnati agents

Finding the right insurance agent requires you to look at more than just a low price. Any agent in Cincinnati should be willing to answer these questions.

• Can they give you a list of client referrals?
• Which companies can they place coverage with?
• How many years of experience in personal auto insurance do they have?
• Which members of your family are coverage by the policy?
• Are they properly licensed to sell insurance in Ohio?
• How will an accident affect your rates?
• Is the agency covered by Errors and Omissions coverage?

Insurance agents can help

When it comes to buying adequate coverage for your personal vehicles, there really is no “best” method to buy coverage. Your financial needs are unique and your policy should reflect that.
For instance, these questions can aid in determining if your situation will benefit from professional help.

• How many claims can I have before being canceled?
• Am I insured when driving a different vehicle?
• Why are teen drivers so expensive to add on to my policy?
• What is covered by UM/UIM coverage?
• Is my business laptop covered if it gets stolen from my vehicle?
• Exactly who is provided coverage by my policy?
• Can I rent a car in Mexico?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.

Coverages available on your insurance policy

Having a good grasp of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverages offered by insurance companies.

Collision protection

This pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things like damaging your car on a curb, rolling your car, backing into a parked car and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible on your RX 350 to save money on collision insurance.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and damage to your Lexus RX 350.

Due to the fact that many Ohio drivers have only the minimum liability required by law (25/50/25), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually these limits are similar to your liability insurance amounts.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like chiropractic care, ambulance fees, pain medications, surgery and funeral costs. They can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive protection

Comprehensive insurance pays for damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like hitting a deer, fire damage, theft and hail damage. The maximum payout your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Coverage for liability

Liability coverage will cover injuries or damage you cause to other people or property in an accident. It protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit without having the split limit caps.

Liability insurance covers claims like medical expenses, repair costs for stationary objects and bail bonds. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy higher limits if possible. Ohio state law requires minimum liability limits of 25/50/25 but it’s recommended drivers buy more coverage.

The illustration below shows why minimum state limits may not be enough coverage.

Frequent quotes can save

When shopping online for car insurance, you should never sacrifice coverage to reduce premiums. There are many occasions where an insured dropped comprehensive coverage or liability limits and discovered at claim time they didn’t have enough coverage. The proper strategy is to purchase a proper amount of coverage at the best possible price, but don’t skip important coverages to save money.

We just covered a lot of ways to save on Lexus RX 350 insurance in Cincinnati. The most important thing to understand is the more you quote Cincinnati car insurance, the better your comparison will be. Drivers may even discover the best price on car insurance is with a small local company. Regional companies may only write in your state and offer lower premium rates than their larger competitors like GEICO and State Farm.

Other resources

• Credit Impacts Car Insurance Rates (State Farm)
• Who Has Cheap Auto Insurance Rates for a GMC Sierra in Cincinnati? (FAQ)
• How Much are Cincinnati Auto Insurance Rates for a GMC Acadia? (FAQ)
• How Much are Car Insurance Rates for Homeowners in Cincinnati? (FAQ)
• How to Avoid Staged Accidents (State Farm)
• Things to Know Before you Cancel Insurance (Allstate)