Lexus ES 350 Insurance Rate Quotes in Portland

Shocking but true, most insurance policyholders have stayed with the same insurance company for a minimum of four years, and nearly the majority have never taken the time to shop around. Oregon drivers can save hundreds of dollars each year, but they underestimate the benefits if they switch to a new company.

The most effective way to get affordable car insurance rates in Portland is to start comparing prices regularly from providers who sell auto insurance in Oregon.

First, gain an understanding of how auto insurance works and the steps you can take to keep rates in check. Many factors that cause rate increases like tickets, at-fault accidents, and poor credit rating can be amended by making minor changes to your lifestyle. Read the full article for the details to get cheaper rates and get additional discounts that may have been overlooked.

Second, get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like Progressive or Allstate, while independent agents can provide price quotes from multiple sources.

Third, compare the quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a better price and switch companies, make sure there is no lapse in coverage.

One key aspect when comparing rates is that you’ll want to make sure you compare the same amount of coverage on each quote and and to get rate quotes from every company you can. This helps ensure the most accurate price comparison and a complete price analysis.

Best companies for Lexus ES 350 insurance

The car insurance companies shown below provide price comparisons in Oregon. To locate the best cheap auto insurance in OR, it’s a good idea that you visit two to three different companies to get the cheapest price.

Insurance analysis for a Lexus ES 350

The data table shown below highlights different prices for Lexus ES 350 models. Having a better understanding of how car insurance prices are calculated can be useful when making smart policy decisions.

Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Oregon minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Estimates do not factor in vehicle location which can increase or decrease auto insurance rates considerably.

Analysis of deductible levels

A question often asked by Portland drivers is how high should the physical damage deductibles be. The rates shown below can help you understand the rate difference between low and high physical damage deductibles. The first rate comparisons uses a $250 deductible and the second rate table uses a $1,000 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rates do not factor in specific location which can impact rates significantly.

Based on the figures above, using a $250 deductible costs approximately $29 more each month or $348 each year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 26 months between claim filings, you would come out ahead by going with a higher deductible. The numbers below show a better example of how we made this calculation.

Rate difference between full and liability-only coverage

The information below illustrates the comparison of Lexus ES 350 insurance premiums with liability coverage only compared to full coverage. Data assumes a clean driving record, no claims, $100 deductibles, drivers are not married, and no other discounts are factored in.

When to buy liability coverage only

There is no exact formula to eliminate comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s say your Lexus ES 350 replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, you would only receive $8,000 after the policy deductible has been paid. If premiums are more than $800 annually to have full coverage, then it’s probably a good time to buy liability coverage only.

There are some cases where only buying liability is not financially feasible. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

Take policy discounts and save on Lexus ES 350 insurance in Portland

Auto insurance companies don’t always advertise their entire list of discounts in a way that’s easy to find, so the following is a list of some of the best known and the more hidden discounts that you may qualify for.

• College Student Discount – College-age children who are attending college and do not have a car may be insured at a cheaper rate.
• No Accidents – Portland drivers who stay claim-free can earn big discounts when compared to frequent claim filers.
• Federal Government Employee – Having worked for a branch of the government may reduce rates when you quote Portland auto insurance but check with your company.
• Pay Upfront and Save – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
• Discount for Swiching Early – A few larger companies give discounts for switching to them before your current expiration date. You may see this discount when you get Portland auto insurance quotes online.
• Multi-car Discount – Insuring multiple vehicles on one policy can get a discount on all vehicles.

Don’t be surprised that most of the big mark downs will not be given to all coverage premiums. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like it’s possible to get free car insurance, nobody gets a free ride. Any amount of discount should help lower your policy premium.

The diagram below shows the difference between Lexus ES 350 auto insurance costs with and without discounts. The information is based on a male driver, no violations or claims, Oregon state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-car, multi-policy, marriage, and claim-free discounts applied.

Large auto insurance companies and some of their more popular discounts can be read below.

• State Farm offers premium reductions for passive restraint, Drive Safe & Save, anti-theft, defensive driving training, and student away at school.
• GEICO may offer discounts for seat belt use, good student, five-year accident-free, air bags, and military active duty.
• SAFECO may include discounts for multi-car, accident prevention training, teen safety rewards, teen safe driver, drive less, and safe driver.
• Farmers Insurance discounts include teen driver, electronic funds transfer, business and professional, good student, and pay in full.
• AAA has discounts for good driver, multi-car, anti-theft, education and occupation, pay-in-full, and AAA membership discount.
• USAA has savings for loyalty savings, safe driver, multi-vehicle, defensive driver, driver training, annual mileage, and vehicle storage.

Before you buy a policy, ask each company or agent what discounts are available to you. Discounts may not apply to policies in Portland. To locate insurance companies with the best Lexus ES 350 insurance discounts in Oregon, click here.

Why You Might Pay Inflated Rates in Portland

Many things are part of the equation when you get your auto insurance bill. Some are obvious like your driving record, although some other factors are more transparent such as your marital status or your vehicle rating.

• Younger driver insurance rates – More mature drivers tend to be more responsible, cost insurance companies less in claims, and are generally more financially stable. Youthful drivers are statistically shown to get distracted easily behind the wheel so they pay higher insurance rates.

  The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Performance makes a difference – The performance of the car you own makes a significant difference in your premium level. Smaller low performance passenger cars usually have the lowest rates, but the final cost of insurance is determined by many other factors.

  The next chart is based on a single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It illustrates Lexus ES 350 policy rates compared to other models of vehicles that have a range of performance risks.

• Prevent your car from being stolen – Choosing a vehicle with an alarm system can help lower your premiums. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop auto theft and help lower rates.
• Get cheaper costs if you’re married – Having a wife or husband may earn you lower rates when buying insurance. Having a spouse may mean you are more mature and responsible and statistics show married drivers tend to have fewer serious accidents.

• Women tend to be lower risk – Statistics have proven that females tend to be a little less risky than males. This data doesn’t prove that women are BETTER drivers than men. Both genders tend to get into accidents at a similar rate, but the men have costlier accidents. Not only that, but men also receive more major tickets like DUI and reckless driving. Male teenagers have the highest risk to insure and therefore are the most expensive to insure.

  The illustration below shows the difference between Lexus ES 350 insurance prices for male and female drivers. Data assumes no accidents or driving violations, full physical damage coverage, $1,000 deductibles, drivers are single, and no discounts are factored in.

• Insurance claims cost money – If you’re an insured who likes to file claims you can pretty much guarantee either higher rates or even cancellation. Companies in Oregon give cheaper rates to drivers who only file infrequent claims. Insurance coverage is intended for more catastrophic claims.

• Lexus ES 350 insurance loss data – Insurance companies use past insurance losses when setting premium costs. Vehicles that have higher frequency or amount of claims will have a higher cost to insure.

  The table below illustrates the historical loss data for Lexus ES 350 vehicles. For each type of coverage, the claim probability for all vehicles combined as an average is set at 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while values over 100 point to more losses or larger claims.

  
  

  Lexus ES 350 Insurance Claim Statistics

  Specific Lexus Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lexus ES 350 4dr	126	79	160	91	100	78

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Tailor your auto insurance coverage to you

When it comes to choosing the right insurance coverage, there really is not a one-size-fits-all type of policy. Everyone’s situation is unique and your auto insurance should be unique as well.
For example, these questions may help you determine whether or not you will benefit from professional help.

• Does insurance cover damages from a DUI accident?
• Why are teen drivers so expensive to add on to my policy?
• Who is covered when they drive my Lexus ES 350?
• Do I have any recourse if my insurance company denies a claim?
• How can I get the company to pay a claim?
• Am I covered if I hit a deer?
• Am I better off with higher deductibles on my Lexus ES 350?
• Is water damage covered by my policy?

If you can’t answer these questions but you know they apply to you then you might want to talk to an agent. If you don’t have a local agent, complete this form or click here for a list of auto insurance companies in your area.

Compare rate quotes but buy from a local neighborhood Portland car insurance agent

Some consumers just want to buy from a local agent and that is a personal choice. A nice benefit of comparing rates online is that you can find cheap rate quotes but also keep your business local.

Once you complete this short form, the quote information is instantly submitted to insurance agents in Portland who will give competitive quotes for your business. There is no reason to visit any agencies as quotes are delivered to you directly. You can get cheaper car insurance rates and work with a local agent. If for some reason you want to quote rates from a specific company, feel free to visit that company’s website and give them your coverage information.

Choosing an insurance company is decision based upon more than just a cheap price quote. Get answers to these questions too.

• What companies can they write with?
• Will the agent or a CSR service your policy?
• Do they have 24-hour customer assistance?
• Will the quote change when the policy is issued?
• What insurance companies do they recommend if they are an independent agent?

If you’re trying to find a reputable agency, it’s helpful to know the different agency structures and how they can quote your rates. Agencies in Portland are classified as either exclusive or independent agents depending on their company appointments.

Exclusive Agencies

Exclusive agencies can only quote rates from one company such as Farmers Insurance, State Farm, Allstate, and AAA. They generally cannot place coverage with different providers so if the price isn’t competitive there isn’t much they can do. They are very knowledgeable in insurance sales which helps them sell insurance even at higher premiums.

Listed below are Portland exclusive insurance agents who can help you get rate quotes.

More insurance agents

Independent Insurance Agents

These type of agents are not restricted to one company and that gives them the ability to insure with a variety of different insurance companies and help determine which has the cheapest rates. If you want to switch companies, they simply move your policy to a different company and that require little work on your part. When shopping rates, you will definitely want to compare prices from a couple of independent agencies so that you have a good selection of quotes to compare.

Listed below is a short list of independent insurance agents in Portland willing to provide comparison quotes.

More insurance agents

Cheaper car insurance is out there

Cheaper Lexus ES 350 insurance in Portland can be found from both online companies in addition to local insurance agencies, and you should compare price quotes from both so you have a total pricing picture. Some car insurance companies may not offer rates over the internet and most of the time these smaller providers work with independent agencies.

When buying insurance coverage, you should never reduce coverage to reduce premium. In many cases, someone sacrificed full coverage and discovered at claim time that it was a big error on their part. The aim is to find the BEST coverage at an affordable rate while still protecting your assets.

For more information, feel free to visit the articles below:

• Frontal Crash Tests (iihs.org)
• What Car Insurance is Cheapest for Ride Shares in Portland? (FAQ)
• What Auto Insurance is Cheapest for a Kia Optima in Portland? (FAQ)
• Who Has Cheap Portland Auto Insurance for Drivers Over Age 70? (FAQ)
• Who Has the Cheapest Car Insurance for Drivers with Bad Credit in Portland? (FAQ)
• Understanding Your Insurance Deductible (Insurance Information Institute)
• Event Data Recorders FAQ (iihs.org)