It’s an obvious conclusion that car insurance companies don’t want customers comparing rates. Insureds who shop around for a cheaper policy are highly likely to switch insurance companies because there is a good probability of finding a lower-cost company. Remarkably, a study showed that drivers who did price comparisons regularly saved approximately $72 a month compared to other drivers who never shopped around for better prices.
If saving money on insurance in Long Beach is your ultimate objective, then understanding how to find companies and compare coverage rates can save time and make the process easier.
If your goal is the lowest price, then the best way to get affordable auto insurance rates in Long Beach is to compare prices once a year from companies in California. You can shop around by following these steps.
Step 1: Gain an understanding of auto insurance and the measures you can take to lower rates. Many rating factors that cause rate increases like traffic violations, accidents, and an unfavorable credit rating can be rectified by making minor driving habit or lifestyle changes. Continue reading for instructions to get low prices and earn a bigger discount.
Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide rate quotes for a wide range of insurance providers.
Step 3: Compare the new rate quotes to your current policy premium to see if a cheaper rate is available in Long Beach. If you can save some money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Give notification to your current company of your intention to cancel your existing policy and submit the signed application along with the required initial payment for the new policy. Don’t forget to put the certificate of insurance in an easily accessible location in your vehicle.
One thing to remember is to use the same liability limits and deductibles on every quote and and to look at every company you can. This ensures a fair rate comparison and plenty of rates choose from.
These tips will teach you a little about how to effectively get price quotes and some tips to save money. If you’re already insured, you will surely be able to reduce premiums using the concepts covered in this article. You just have to use the most efficient way to compare price quotes from many different companies.
Lexus HS 250h insurance rate analysis
The table below outlines estimates of rate quotes for Lexus HS 250h models. Understanding more about how insurance rates are determined can be valuable when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|HS 250H 4-Dr Sedan||$242||$452||$386||$22||$116||$1,218||$102|
|HS 250H Premium 4-Dr Sedan||$242||$452||$386||$22||$116||$1,218||$102|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rate quotes do not factor in zip code location which can change prices substantially.
The chart below illustrates how choosing a deductible and can influence Lexus HS 250h insurance costs for each age group. The data assumes a single female driver, comprehensive and collision coverage, and no other discounts are factored in.
Premiums by gender and age
The information below illustrates the difference between Lexus HS 250h premium costs for male and female drivers. The costs are based on no violations or accidents, comp and collision included, $500 deductibles, single status, and no discounts are taken into consideration.
Rate difference between full and liability-only coverage
The chart below illustrates the difference between Lexus HS 250h yearly insurance costs with full coverage compared to only the California minimum liability coverage. The prices are based on no claims or violations, $500 deductibles, single marital status, and no discounts are applied.
Should you be buying full coverage?
There is no set guideline of when to drop full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Lexus HS 250h replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $2,000 after paying the physical damage deductible. If it’s costing in excess of $200 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where dropping physical damage coverage is not a good idea. If you still owe money on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Six factors that affect insurance rates
Many things are part of the equation when quoting car insurance. A few of the factors are predictable like your driving record, but other factors are more obscure like your continuous coverage and annual miles driven. The best way to find cheaper car insurance is to take a look at some of the factors that are used to determine your car insurance rates. When consumers understand what positively or negatively impacts your premiums, this enables informed choices that can help you get lower car insurance prices.
Listed below are some of the most rate-impacting factors utilized by car insurance companies to help set your premiums.
- Be proud to be claim-free – If you file claims often, you shouldn’t be surprised to get much higher rates or policy non-renewal. Car insurance companies in California provide discounts to policyholders who do not file claims often. Your car insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
Driving citations will cost you – Just one driving citation can boost insurance rates twenty percent or more. Drivers with clean records tend to pay less for car insurance as compared to those with violations. Drivers who get serious tickets like DWI, reckless driving or hit and run convictions may face state-mandated requirements to prove financial responsibility with their state’s department of motor vehicles in order to legally drive a vehicle.
The illustration below demonstrates how citations and at-fault claims impact Lexus HS 250h car insurance rates for each different age category. Data assumes a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
- Gaps in coverage mean higher car insurance rates – Having an insurance coverage lapse will be a fast way to trigger a rate increase. And not only will insurance be more expensive, not being able to provide proof of insurance could earn you a fine, jail time, or a revoked license.
- Single drivers take more risk – Having a significant other may earn you lower rates when buying car insurance. It may mean you are more stable financially and statistics show drivers who are married file infrequent claims.
- Safer cars mean better rates – Cars with high safety ratings can get you lower premiums. Vehicles built for safety reduce occupant injuries and reduced instances of injuries translates into savings for insurance companies and more competitive rates for policyholders.
- Extra policy coverages can waste money – There are a ton of extra add-on coverages you can purchase on your car insurance policy. Things like personal injury protection, accidental death, and term life insurance are probably not needed. They may seem good when buying your policy, but if they’re wasting money remove them and pocket the money.
How much can you save?
People switch companies for a variety of reasons including policy cancellation, poor customer service, delays in paying claims or extreme rates for teen drivers. Regardless of your reason, choosing a new company is not as difficult as it may seem.
When searching for affordable Lexus HS 250h insurance quotes, do not reduce coverage to reduce premium. There are too many instances where someone sacrificed collision coverage only to discover later they didn’t have enough coverage. Your objective should be to buy the best coverage you can find at the best possible price, but don’t skip important coverages to save money.
Cheap Lexus HS 250h insurance in Long Beach is definitely available online and from local insurance agents, so you need to quote Long Beach car insurance with both to have the best chance of lowering rates. There are still a few companies who do not provide rate quotes online and most of the time these smaller companies provide coverage only through local independent agencies.
For more information, feel free to browse these articles:
- Insurance Losses by Make and Model (iihs.org)
- Who Has the Cheapest Auto Insurance for Low Income Drivers in Long Beach? (FAQ)
- Who Has the Cheapest Long Beach Auto Insurance Quotes for a Ford Edge? (FAQ)
- What is the Best Cheap Auto Insurance in Long Beach, CA? (FAQ)
- What Insurance is Cheapest for a Honda Accord in Long Beach? (FAQ)
- Who Has Affordable Long Beach Car Insurance for Ride Shares? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Car Insurance FAQ (Trusted Choice)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Auto Insurance Facts and Statistics (Insurance Information Institute)