Truthfully, the best way to get more affordable Lexus GX 460 insurance in Baltimore is to compare quotes once a year from providers in Maryland. Rates can be compared by completing these steps.
- Step 1: Spend a few minutes and learn about the coverage provided by your policy and the modifications you can make to keep rates down. Many things that cause rate increases like accidents, traffic violations, and a not-so-good credit rating can be rectified by making minor driving habit or lifestyle changes.
- Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from one company like Progressive and State Farm, while independent agents can provide price quotes from multiple companies.
- Step 3: Compare the price quotes to your existing rates and see if there is a cheaper rate. If you find a better price and buy the policy, ensure coverage does not lapse between policies.
- Step 4: Notify your agent or company of your intent to cancel the current policy and submit payment along with a signed and completed policy application for your new policy. Don’t forget to put the certificate of insurance in your glove compartment.
A good tip to remember is to try to use the same deductibles and limits on each price quote and and to get price estimates from as many companies as possible. This guarantees a fair price comparison and a complete price analysis.
It’s hard to believe, but most auto insurance buyers kept buying from the same company for at least the last four years, and about 40% of consumers have never compared rates to find cheap insurance. Maryland consumers could cut their rates by approximately 55% a year just by comparing rates, but they think it’s difficult to compare rate quotes online.
If you have insurance now or are looking for a new policy, use these money-saving tips to reduce premiums without reducing coverage. This article’s goal is to let you in on how to effectively get price quotes and how you can save the most money. Smart shoppers only need an understanding of the proper methods to get comparison quotes from many different companies online.
All the larger insurance companies provide prices for coverage from their websites. The process is fairly simple because you just enter your coverage information as requested by the quote form. When complete, their rating system obtains reports for credit and driving violations and returns a price based on the data you entered.
This makes it a lot easier to compare rates and it’s very important to compare as many rates as possible in order to get affordable prices.
To find out if lower rates are available, consider comparing rates from the companies shown below. If you have your current policy handy, we recommend you duplicate the limits and deductibles just like they are on your policy. Doing this guarantees you will have a rate comparison for exact coverage.
The providers in the list below have been selected to offer comparison quotes in Maryland. If multiple companies are listed, we recommend you click on several of them to find the most affordable car insurance rates.
These discounts can cut Lexus GX 460 insurance rates
Insuring your vehicles can cost a lot, but you may be missing some discounts that many consumers don’t even know exist. Some trigger automatically at the time you complete a quote, but a few need to be asked about before you get the savings.
- Baltimore Homeowners Discount – Owning your own home or condo may earn you a small savings due to the fact that maintaining a home is proof that your finances are in order.
- Drivers Ed for Students – Have your child enroll in driver’s education if it’s offered in school.
- Drive Safe and Save – Drivers who don’t get into accidents can pay as much as 50% less compared to rates paid by drivers with frequent claims.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to wear their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Accident Free – Drivers with accident-free driving histories pay much less when compared to bad drivers.
As is typical with insurance, most discounts do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as liability, collision or medical payments. So when it seems like having all the discounts means you get insurance for free, nobody gets a free ride.
The information below illustrates the difference between Lexus GX 460 yearly insurance costs with and without discounts applied to the premium. The rate quotes are based on a male driver, no tickets, no at-fault accidents, Maryland state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, safe-driver, and marriage discounts applied.
If you would like to choose from a list of car insurance companies offering car insurance discounts in Maryland, click here.
Rates and information analytics
The rate table displayed below highlights estimates of insurance prices for Lexus GX 460 models. Having a better understanding of how policy premiums are calculated is important to be able to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $276 | $566 | $426 | $26 | $128 | $1,422 | $119 |
| GX 460 Premium 4WD 4-Dr | $304 | $566 | $426 | $26 | $128 | $1,450 | $121 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Estimates do not factor in specific zip code location which can raise or lower premium rates significantly.
Tickets and at-fault accidents raise rates
The example below shows how traffic citations and fender-benders increase Lexus GX 460 auto insurance rates for different categories of driver ages. The premiums assume a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.
Price comparison of only insuring for liability
The chart below shows the difference between Lexus GX 460 auto insurance rates when comparing full coverage to state minimum liability only. The price estimates are based on no claims or violations, $500 deductibles, single marital status, and no additional discounts are factored in.
When to drop full coverage
There is no set guideline to drop physical damage insurance, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your Lexus GX 460 replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $6,000 after you pay the deductible. If you are paying more than $600 annually for full coverage, then you might want to consider buying only liability coverage.
There are a few cases where eliminating full coverage is not a good idea. If you haven’t paid off your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not opt for liability only.
Car insurance is available from local agents
Some consumers would prefer to have an agent’s advice and that is just fine! Professional agents can make sure you are properly covered and help in the event of a claim. One of the great benefits of comparing car insurance online is that you can find cheap rate quotes and still have an agent to talk to.
To find an agent, once you fill out this simple form, your information is immediately sent to local insurance agents who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to contact any insurance agencies since rate quotes are delivered immediately to you. If for some reason you want to get a rate quote from a specific company, just find their quoting web page and complete a quote there.
Deciding on an provider requires more thought than just a cheap quote. Before buying a policy in Baltimore, get answers to these questions.
- What are the financial ratings for the companies they represent?
- Are they paid to recommend certain coverages?
- Can they provide you with a list of referrals?
- Is the coverage adequate for your vehicle?
- Are they actively involved in the community?
- If you are a high risk driver, do they have special markets for your coverage?
- If your car is totaled, how to they determine the replacement cost?
- Are they full-time agents?
If you want to buy car insurance from a reliable agent, you must know there are a couple different types of agents and how they are slightly different. Agents are classified as either exclusive agents or independent agents. Both types can sell car insurance policies, but it is a good idea to know the difference between them because it can factor into the selection process.
Exclusive Agents
Agents that elect to be exclusive can only quote rates from one company and examples are Allstate, Farmers Insurance or State Farm. They usually cannot compare rates from other companies so if the price isn’t competitive there isn’t much they can do. These agents are highly trained on their company’s products which helps them sell on service rather than price. Some insured continue to purchase coverage from exclusives mostly because of the prominence of the brand and strong financial ratings.
The following is a short list of exclusive agents in Baltimore who may provide you with comparison quotes.
- Bob Duda – State Farm Insurance Agent
7939 Honeygo Blvd #105 – Baltimore, MD 21236 – (410) 529-2523 – View Map - Raul Braun – State Farm Insurance Agent
8609 Old Harford Rd – Baltimore, MD 21234 – (410) 663-3100 – View Map - Frank Insley – State Farm Insurance Agent
9652 Belair Rd – Baltimore, MD 21236 – (410) 256-5600 – View Map
Independent Agencies or Brokers
These agents often have many company appointments and that allows them to write policies with any number of different companies and help determine which has the cheapest rates. If they quote lower rates, your agent can switch companies and the insured can keep the same agent. If you need lower rates, you definitely need to include price quotes from independent agents to ensure the widest selection of prices. Most also write with companies that do not advertise much which could offer lower prices.
Listed below is a list of independent insurance agents in Baltimore who can help you get comparison quotes.
- Nationwide Insurance: Rodgers Insurance Agency Inc
6800 Holabird Ave a – Baltimore, MD 21222 – (410) 282-1379 – View Map - Austen’s Insurance Inc
3407 Eastern Blvd – Baltimore, MD 21220 – (410) 686-4700 – View Map - Upper Chesapeake Insurance Agency Inc
900 S Charles St – Baltimore, MD 21230 – (410) 385-0455 – View Map
The Lexus GX 460 Insurance Rate Equation
Many things are taken into consideration when quoting car insurance. Some factors are common sense like a motor vehicle report, although others are more obscure like where you live or how safe your car is. When buying insurance it’s important to understand some of the factors that play a part in calculating your policy premiums. When you understand what impacts premium levels, this helps enable you to make changes that can earn you cheaper rates.
The items below are some of the items that factor into rates.
- High credit scores save money – Credit score will be a significant factor in determining your rates. Therefore, if your credit score is low, you could be paying less to insure your Lexus GX 460 if you improve your credit rating. People that have very high credit ratings tend to file fewer claims and have better driving records than drivers with bad credit.
- Get better rates if you’re married – Having a wife or husband may save some money compared to being single. Having a spouse demonstrates that you tend to be more mature than a single person and it’s statistically proven that drivers who are married file infrequent claims.
- Low comp and collision deductibles can be expensive – The deductibles you choose define how much you are willing to pay before your insurance pays a claim. Physical damage coverage, aka comp and collision, protects your car from damage. Some instances where coverage would apply are a windshield broken by a bird, animal collisions, or theft of your vehicle. The larger the amount you choose to pay out-of-pocket, the lower your rates will be.
- Annual mileage impacts rates – The more you drive annually the higher your rates will be. Many insurance companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles left parked in the garage receive better premium rates than vehicles that are driven to work every day. An improperly rated GX 460 is throwing money out the window. It’s always a good idea to double check that your insurance declarations sheet is rated on annual mileage.
- Safety first – Vehicles that have high safety ratings can get you lower premiums. The safest vehicles reduce injuries and lower injury rates means less money paid by your insurance company which can result in lower premiums.
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Insurance loss data for Lexus GX 460 vehicles – Insurers use claims history when setting premium rates. Vehicles that have increased losses will have a higher cost to insure. The table shown below demonstrates the loss history for Lexus GX 460 vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles averaged together is considered to be 100. Percentage numbers below 100 suggest losses that are better than average, while values over 100 show a trend for more claims or an increased likelihood of larger losses.
Auto Insurance Loss Data for Lexus GX 460 Models Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus GX 460 4dr 4WD 97 100 125 63 52 63 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why you need quality insurance for your Lexus GX 460
Even though it can be expensive, insurance is required for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability insurance if you drive a vehicle. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a lien on your vehicle, most banks will make it a condition of the loan that you have full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Lexus at a much higher premium rate and make you pay for the much more expensive policy.
- Car insurance preserves your Lexus and your assets. It will also pay for medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay to defend you 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 pay to restore your vehicle to like-new condition.
The benefits of insuring your car more than offset the price you pay, especially if you ever need it. The average driver in Maryland is overpaying more than $700 annually so compare rates at every renewal to be sure current rates are still competitive.
Baltimore auto insurance companies ranked
Ending up with a highly-rated auto insurance company can be a challenge considering how many different companies insure vehicles in Baltimore. The company information in the lists below may help you choose which car insurance companies you want to consider shopping your coverage with.
Top 10 Baltimore Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Baltimore Car Insurance Companies Ranked by Claims Service
- Travelers
- Nationwide
- Allstate
- State Farm
- Liberty Mutual
- GEICO
- American Family
- Esurance
- Titan Insurance
- AAA Insurance
Compare. Compare. Compare.
Consumers switch companies for many reasons like poor customer service, questionable increases in premium, an unsatisfactory settlement offer or even policy non-renewal. It doesn’t matter what your reason, choosing a new insurance company is not as hard as you think.
As you shop your coverage around, it’s not a good idea to skimp on coverage in order to save money. There are many occasions where an insured cut comprehensive coverage or liability limits to discover at claim time that it was a big mistake. Your objective should be to get the best coverage possible at the lowest possible cost, but do not skimp to save money.
Budget-conscious Lexus GX 460 insurance is attainable from both online companies and from local insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. A few companies do not provide rates over the internet and most of the time these smaller companies sell through independent agents.
Helpful articles
- Help Your Teen Be a Better Driver (State Farm)
- How Much are Baltimore Auto Insurance Rates for Drivers Under 25? (FAQ)
- Who Has Cheap Baltimore Car Insurance for Drivers with a Bad Driving Record? (FAQ)
- Your Car has been Stolen: Now What? (Allstate)
- Insurance Losses by Make and Model (iihs.org)
- Shopping for a Safe Car (Insurance Information Institute)