Smart shoppers know that auto insurance companies don’t want you quoting rates from other companies. Insureds who compare price quotes will, in all likelihood, switch companies because they have good chances of finding a lower-cost company. A study showed that consumers who shopped around every year saved as much as $865 annually as compared to drivers who never shopped around for better prices.
If finding budget-friendly rates on car insurance is the reason you’re here, then having some insight into how to compare coverage rates can help you be more efficient.
The recommended way to get low-cost Lexus CT 200h insurance is to make a habit of comparing prices annually from insurance carriers who provide car insurance in Portland.
First, spend a few minutes and learn about what is in your policy and the steps you can take to keep rates down. Many risk factors that are responsible for high rates such as distracted driving and a poor credit score can be amended by making minor changes to your lifestyle.
Second, compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like Progressive or Allstate, while agents who are independent can quote rates for many different companies.
Third, compare the new rates to the premium of your current policy to see if a cheaper price is available. If you can save some money and decide to switch, make sure coverage is continuous and does not lapse.
Fourth, notify your company or agent of your intent to cancel the current policy. Submit a completed policy application and payment for your new policy. Once coverage is bound, keep the new certificate verifying proof of insurance in your vehicle’s glove compartment or console.
A good piece of advice is that you’ll want to compare identical coverage information on each price quote and and to get quotes from every insurance company. Doing this guarantees a fair price comparison and the best rate selection.
Slash your auto insurance rates with discounts
Some insurers don’t list the complete list of policy discounts in a way that’s easy to find, so the next list breaks down both well-publicized and the harder-to-find discounts that you may qualify for.
- Military Rewards – Being on active duty in the military can result in better auto insurance rates.
- Discounts for Good Drivers – Accident-free drivers could pay up to 40% less than less cautious drivers.
- Telematics Devices – Insureds that choose to allow their auto insurance company to scrutinize driving manner through the use of a telematics system such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks if they are good drivers.
- Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you may have a lower total premium amount.
- Multi-line Discount – Insurance carriers who offer life insurance give a break if you buy a life policy as well.
Discounts reduce rates, but you should keep in mind that most discount credits are not given to your bottom line cost. Most cut individual premiums such as physical damage coverage or medical payments. So when it seems like all those discounts means the company will pay you, you aren’t that lucky. Any qualifying discounts should help reduce your policy cost.
A partial list of companies who might offer these money-saving discounts possibly include:
When quoting, ask all the companies how many discounts you can get. Some credits might not be offered on policies in Portland. To see a list of insurance companies that provide some of the discounts listed above in Oregon, follow this link.
To find the cheapest Lexus CT 200h rate quotes, there are several ways to get quotes from different companies. One of the best ways to find the cheapest insurance rates is to use the internet to compare rates.
Comparing free rates online is easy and it, replaces the need to waste gas driving to local insurance agencies. The ability to get quotes online reduces the need to sit down with an agent unless you have a need for the trained guidance only provided by licensed agents. If you prefer, some companies allow you to price shop your coverage online and have a local agent actually service the policy.
It’s important to know that comparing more rates from different companies helps increase your odds of locating better pricing. Not every company does online rate quotes, so it’s necessary to compare prices on coverage from those companies, too.
The providers in the list below can provide free quotes in Oregon. If you want to find the best cheap car insurance in Portland, we recommend you visit several of them in order to get a fair rate comparison.
Why Your Insurance Prices might be higher
Lots of things are taken into consideration when you get a price on insurance. Some of the criteria are obvious like an MVR report, although others are more transparent such as whether you are married or your vehicle rating. The best way to find cheaper car insurance is to take a look at a few of the rating criteria that aid in calculating the price you pay for car insurance. When you understand what influences your rates, this enables you to make decisions that will entitle you to big savings.
Shown below are some of the major factors that factor into prices.
Male prices may be higher – Statistics have proven that females tend to be a little less risky than males. The data does not necessarily mean that women are BETTER drivers than men. Females and males get in auto accidents in similar numbers, but the male of the species tend to have more serious accidents. Men also statistically get ticketed for serious violations such as DWI and reckless driving. Male teenagers are most likely to cause an accident and therefore have the most expensive car insurance rates.
Save money with responsible credit – An insured’s credit rating can be a huge factor in calculating your car insurance rates. So if your credit is not that good, you could potentially save money when insuring your Lexus CT 200h if you clean up your credit. Drivers with excellent credit scores tend to be better drivers and file fewer claims than drivers who have lower ratings.
Cut car insurance rates and deter theft – Buying a car with advanced anti-theft systems can get you a discount on your car insurance. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop your car from being stolen.
Extra coverages may be wasting money – Policies have optional add-on coverages that you can buy if you aren’t careful. Things like replacement cost coverage, better glass coverage, and Farm Bureau memberships may be wasting your money. They may seem good when you first buy your policy, but now you might not need them so get rid of them and save.
A coverage lapse is a bad thing – Going without insurance is a sure-fire way to bump up your car insurance costs. In addition to paying higher premiums, failure to provide proof of insurance could earn you a license revocation or jail time.
What’s your car’s NHTSA crash test rating? – Vehicles with high crash test scores cost less to insure. The safest vehicles reduce occupant injuries and lower rates of occupant injuries means lower claim amounts and more competitive rates for policyholders. If your Lexus CT 200h has ratings of a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it may cost less to insure.
Loss probability for a Lexus CT 200h – Insurers take into consideration historical loss data for every vehicle when setting rates for each model. Vehicles that the data determines to have higher claim amounts or frequency will be charged more to insure. The table below outlines the historical loss data for Lexus CT 200h vehicles.
For each policy coverage type, the claim amount for all vehicles combined as an average is set at 100. Values that are below 100 mean the vehicle has better than average losses, while values that are above 100 point to more losses or an increased probability of a larger loss.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus CT 200h Hybrid 4dr||128||92||140||97||114||96|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Buying insurance from Portland insurance agents
A small number of people still prefer to visit with an insurance agent and doing that can be a smart decision The biggest benefit of comparing rates online is you may find cheap insurance quotes and still buy from a local agent. And providing support for small agencies is still important in Portland.
Once you complete this short form, your insurance coverage information is submitted to local insurance agents that can provide free Portland car insurance quotes for your business. You won’t even need to even leave your home because quoted prices will be sent straight to your inbox. You can most likely find cheaper rates AND a local agent. If you have a need to get a price quote from a specific insurance provider, feel free to visit that company’s website and fill out their quote form.
Is an exclusive or independent car insurance agent right for you?
When narrowing the list to find a reputable agency, there are a couple of different types of agencies that differ in how they can insure your vehicles. Insurance agents can either be independent or exclusive.
Independent Insurance Agents
Independent insurance agents are normally appointed by many insurers so they can insure your vehicles with lots of companies and potentially find a lower price. If you want to switch companies, they simply switch companies in-house and that require little work on your part.
When comparing rates, you definitely need to get some free quotes from multiple independent agents so that you can do a thorough price comparison.
Listed below is a partial list of independent agents in Portland that may be able to give comparison quotes.
Exclusive Insurance Agencies
Agents that choose to be exclusive can only quote rates from one company and some examples include American Family, State Farm, and Allstate. Exclusive agents cannot place coverage with different providers so if the price isn’t competitive there isn’t much they can do. Exclusive agents are usually quite knowledgeable on sales techniques which can be an advantage.
The following are exclusive insurance agents in Portland that can give you rate quotes.
Finding a good auto insurance agent is decision based upon more than just a cheap quote. Get answers to these questions too.
- Do they make recommendations based only on price?
- Can they help ensure a fair claim settlement?
- Are they paid to recommend certain coverages?
- Do they assist clients in filing claims?
- How experienced are they in personal risk management?
- Do they offer rental car reimbursement?
- Does the agency have a positive business rating?
Why you need auto insurance
Even though it can be expensive, auto insurance may be required for several reasons.
- The majority of states have mandatory insurance requirements which means you are required to carry specific limits of liability coverage if you want to drive legally. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you bought your Lexus with a loan, it’s guaranteed your bank will stipulate that you have insurance to guarantee loan repayment. If you let the policy lapse, the bank or lender will purchase a policy for your Lexus at a much higher premium rate and require you to pay a much higher amount than you were paying before.
- Auto insurance protects your car and your assets. It will also reimburse you for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers legal expenses in the event you are sued. If your car is damaged in a storm or accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having auto insurance definitely exceed the price paid, especially for larger claims. But the average American driver overpays as much as $855 a year so we recommend shopping around at least once a year to ensure rates are competitive.
Frequent quotes can save
Some companies don’t offer online quoting and many times these smaller providers prefer to sell through independent insurance agencies. Cheaper Lexus CT 200h insurance in Portland is definitely available on the web as well as from insurance agents, and you should compare price quotes from both so you have a total pricing picture.
We just presented many ideas to get a better price on Lexus CT 200h insurance in Portland. It’s most important to understand that the more providers you compare, the better likelihood of getting low cost Portland car insurance quotes. Consumers could even find that the best rates are with the smaller companies. They can often provide lower car insurance rates in certain areas as compared to the big name companies such as Allstate or State Farm.
To read more, feel free to browse the resources below:
- Your Car has been Stolen: Now What? (Allstate)
- How Much are Portland Car Insurance Rates for a Learners Permit? (FAQ)
- What Car Insurance is Cheapest for Ride Shares in Portland? (FAQ)
- Who Has Cheap Car Insurance Rates for a Ford Fusion in Portland? (FAQ)
- Who Has Affordable Auto Insurance for Teenage Males in Portland? (FAQ)
- Who Has Affordable Car Insurance for State Employees in Portland? (FAQ)
- Who Has Cheap Portland Auto Insurance Quotes for Drivers Over Age 60? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Safe Drivers in Portland? (FAQ)
- What Auto Insurance is Cheapest for Real Estate Agents in Portland? (FAQ)
- State Laws for Cellphones and Texting (iihs.org)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Safety Features for Your New Car (State Farm)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)