Do you want an efficient way to compare more affordable auto insurance rates in Philadelphia, PA? Philadelphia drivers have many options when trying to find the best price on Lexus GX 460 insurance. They can either spend hours driving around trying to get quotes or utilize the internet to compare rates. There are both good and bad ways to find auto insurance online and you need to know the absolute fastest way to quote coverages on a Lexus and obtain the lowest price either online or from Philadelphia insurance agents.
Getting a low cost price on insurance is a fairly straight forward process. The only requirement is to take a couple of minutes to compare rate quotes to find the company with affordable Lexus GX 460 insurance quotes.
The companies shown below can provide price comparisons in Pennsylvania. If multiple providers are shown, it’s a good idea that you click on several of them to find the lowest auto insurance rates.
Three reasons car insurance is important
Even though it can be expensive, car insurance is required in Pennsylvania but it also protects you in many ways.
First, just about all states have minimum liability requirements which means you are required to carry a minimum amount of liability insurance if you drive a vehicle. In Pennsylvania these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
Second, if you have a loan on your GX 460, it’s most likely the lender will have a requirement that you have physical damage coverage to protect their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Lexus at a much higher premium rate and require you to pay a much higher amount than you were paying before.
Third, insurance protects not only your vehicle but also your financial assets. It will also provide coverage for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your GX 460 are definitely more than the cost, especially when you need to use it. According to a 2015 survey, the average American driver is overpaying more than $850 per year so it’s important to compare rates at every renewal to ensure rates are inline.
Lexus GX 460 insurance charts and tables
The data table shown below covers estimates of coverage costs for Lexus GX 460 models. Having insight into how car insurance prices are calculated is important to be able to make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $200 | $390 | $310 | $18 | $92 | $1,010 | $84 |
| GX 460 Premium 4WD 4-Dr | $220 | $390 | $310 | $18 | $92 | $1,030 | $86 |
| Get Your Own Customized Quote Go | |||||||
Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Information does not factor in specific location which can influence premiums significantly.
Physical damage deductibles: Should you raise them?
The hardest decision when buying coverage is how high should the physical damage deductibles be. The tables below show the costs and benefits of buying low and high comp and collision deductibles. The first data table uses a $100 deductible for physical damage and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $356 | $694 | $330 | $20 | $98 | $1,523 | $127 |
| GX 460 Premium 4WD 4-Dr | $392 | $694 | $330 | $20 | $98 | $1,559 | $130 |
| Get Your Own Customized Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $198 | $366 | $330 | $20 | $98 | $1,012 | $84 |
| GX 460 Premium 4WD 4-Dr | $218 | $366 | $330 | $20 | $98 | $1,032 | $86 |
| Get Your Own Customized Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rates do not factor in specific zip code location which can influence premium rates greatly.
We can derive from the above data that using a $100 deductible costs roughly $44 more each month or $528 each year than choosing the higher $1,000 deductible. Since you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to go more than 20 months between claim filings, you would more than likely save some money by selecting a higher deductible. The table below illustrates a better example of how you can perform this determination yourself.
| Average monthly premium for $100 deductibles: | $129 |
| Average monthly premium for $1,000 deductibles (subtract): | – $85 |
| Monthly savings from raising deductible: | $44 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $44 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 20 months |
One thing to note is that a higher deductible means you pay more out-of-pocket when you have a physical damage claim. That will require some extra funds in the event you need to pay the deductible to have repairs made.
Should you buy full coverage?
The illustration below visualizes the comparison of Lexus GX 460 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Pennsylvania. The premiums assume no accidents or driving violations, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
When to stop paying for full coverage
There is no definitive formula to exclude physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s assume your Lexus GX 460 claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after you pay the deductible. If it’s costing you more than $300 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where eliminating full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.
Get cheaper Lexus GX 460 insurance rates in Philadelphia
Insuring your fleet can be pricey, but there’s a good chance there are discounts to help offset the cost. Certain discounts will be triggered automatically when you complete an application, but a few must be requested specifically before being credited.
- Theft Deterrent Discount – Vehicles equipped with anti-theft or alarm systems are less likely to be stolen and earn discounts up to 10% off your Philadelphia auto insurance quote.
- Smart Student Discounts – Excelling in school can save 20 to 25%. The discount lasts up to age 25.
- Low Mileage Discounts – Low mileage vehicles can earn better rates on cars that stay parked.
- Early Signing – A few companies allow discounts for switching companies before your current coverage expires. This discount can save up to 10%.
- Discount for Home Ownership – Being a homeowner can save you money because maintaining a house is proof of financial responsibility.
You should keep in mind that most of the big mark downs will not be given to the entire cost. Most only reduce specific coverage prices like comprehensive or collision. Even though it may seem like you would end up receiving a 100% discount, you aren’t that lucky.
The example below compares Lexus GX 460 annual premium costs with and without discounts. The price estimates are based on a male driver, no tickets, no at-fault accidents, Pennsylvania state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, claim-free, homeowner, and marriage discounts applied.
If you would like to see a list of insurers who offer online Lexus GX 460 insurance quotes in Philadelphia, click this link.
Car insurance is available from your local insurance agencies
Many drivers just want to get professional advice from a licensed agent and that is recommended in a lot of cases Professional insurance agents will help you protect your assets and help in the event of a claim. One of the great benefits of getting free rate quotes online is you may find cheaper auto insurance rates but still work with a licensed agent.
Once you complete this simple form, your information is emailed to agents in your area that can give you free Philadelphia auto insurance quotes for your business. There is no need to search for any insurance agencies due to the fact that quote results will go to you instantly. If you need to compare prices from a particular provider, just go to their quote page and submit a quote form there.
Choosing an insurer should depend on more than just the premium amount. The answers to these questions are important, too.
- Is coverage determined by price?
- Will one accident increase rates?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Are all drivers listed on the coverage quote?
- Is the quote a firm price?
- How long have they worked with personal auto insurance coverage?
- How are they compensated?
- What are the financial ratings for the companies they represent?
Types of car insurance agents
If you need to find a good Philadelphia insurance agent, there are two different types of agents and how they can service your needs differently. Philadelphia agents are considered either independent or exclusive depending on the company they work for. Both types can provide car insurance policies, but it’s important to point out how they differ since it can affect your selection of an agent.
Exclusive Agencies
Exclusive agents can only provide one company’s prices like State Farm, Allstate, and Farm Bureau. Exclusive agents are unable to provide prices from multiple companies so always compare other rates. Exclusive agencies are very knowledgeable on their company’s products which helps offset the inability to provide other markets. Consumers sometimes use the same exclusive agent mainly due to the brand instead of buying on price only.
Shown below is a short list of exclusive agencies in Philadelphia that can give you price quote information.
- Trish Floyd – State Farm Insurance Agent
7706 Castor Ave – Philadelphia, PA 19152 – (215) 725-3000 – View Map - Wanda Dancy – State Farm Insurance Agent
2805 N 47th St, FL-1 – Philadelphia, PA 19131 – (215) 871-3390 – View Map - State Farm – Philadelphia – Thanh Pham
254 S 10th St – Philadelphia, PA 19107 – (215) 238-7400 – View Map
Independent Agencies or Brokers
Agents that elect to be independent are not locked into one company and that enables them to quote your coverage with many different companies and find you cheaper rates. If you want to switch companies, your policy is moved internally and the insured can keep the same agent. If you need lower rates, we recommend you get insurance quotes from independent agents to maximize your price options. Many can place coverage with different regional companies which can be an advantage.
Shown below is a list of independent insurance agents in Philadelphia that can give you rate quotes.
- Eckroth Insurance Group LLC
521 N 22nd St – Philadelphia, PA 19130 – (215) 232-0200 – View Map - Accu Insurance Agency
7010 Elmwood Ave – Philadelphia, PA 19142 – (215) 726-0270 – View Map - Savage Insurance Agency LLC
300 W Cheltenham Ave – Philadelphia, PA 19126 – (215) 224-4890 – View Map
Persistence will pay off
People change insurance companies for many reasons like poor customer service, extreme rates for teen drivers, not issuing a premium refund or policy cancellation. Regardless of your reason for switching companies, finding a great new company can be easy and end up saving you some money.
In this article, we covered some good ideas how to shop for Lexus GX 460 insurance online. The key concept to understand is the more rate quotes you have, the better your comparison will be. Drivers may even discover the best rates are with some of the smallest insurance companies.
Budget-conscious Lexus GX 460 insurance can be bought both online in addition to many Philadelphia insurance agents, so get free Philadelphia auto insurance quotes from both of them in order to have the best price selection to choose from. Some insurance companies do not offer internet price quotes and most of the time these smaller companies sell through independent agents.
To read more, link through to the following helpful articles:
- Driving in Bad Weather (Insurance Information Institute)
- Who Has the Cheapest Philadelphia Auto Insurance Rates for Drivers with a Bad Driving Record? (FAQ)
- How Much are Auto Insurance Rates for a Toyota Camry in Philadelphia? (FAQ)
- Who Has Cheap Auto Insurance for College Students in Philadelphia? (FAQ)
- Who Has Cheap Auto Insurance for a Chevrolet Equinox in Philadelphia? (FAQ)
- Older Driver Statistics (Insurance Information Institute)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Keeping Children Safe in Crashes Video (iihs.org)
- Insuring a Leased Car (Insurance Information Institute)