Shocking but true, the majority of drivers kept their policy with the same company for well over three years, and almost 40% of drivers have never quoted rates to find affordable coverage. Many drivers in the U.S. could save up to $860 a year just by getting comparison quotes, but they assume it’s a waste of time to compare rates online.
The best way to get cheaper auto insurance rates is to annually compare prices from providers in Laredo. You can compare rates by completing these steps.
Step 1: Get a basic knowledge of how your policy works and the measures you can take to prevent high rates. Many factors that are responsible for high rates like traffic citations and an imperfect credit rating can be controlled by making minor driving habit or lifestyle changes. Keep reading for the details to get cheaper coverage and earn a bigger discount.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from multiple companies.
Step 3: Compare the new rates to your existing policy to see if a cheaper rate is available in Laredo. If you find a lower rate and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Notify your current company of your intent to cancel your current auto insurance policy and submit the signed application along with the required initial payment for the new coverage. As soon as you receive it, put the proof of insurance certificate in an easily accessible location in your vehicle.
A good tip to remember is to use the same coverage limits and deductibles on each quote request and and to get rates from as many carriers as you can. Doing this helps ensure a fair price comparison and a thorough price selection.
If you currently have auto insurance, you will most likely be able to reduce the price you pay using the ideas presented in this article. Shopping for affordable auto insurance policy in Laredo is easy if you know what you’re doing. But Texas vehicle owners can benefit by having an understanding of the way insurance companies market on the web.
All major auto insurance companies allow you to get coverage prices directly from their websites. Getting online quotes for Lexus IS 250 insurance in Laredo is easy for anyone because you just enter your personal and coverage information on the page. After the form is submitted, their rating system automatically retrieves your driving record and credit report and provides a quote.
This makes it a lot easier to compare rates and it is important to perform this step if you want to find a lower rate.
To compare rates now, compare rates from the companies below. If you have your current policy handy, we recommend you duplicate the coverage information as shown on your current policy. This guarantees you will be getting a price comparison for similar coverage.
The companies in the list below are ready to provide price quotes in Texas. If multiple companies are listed, we recommend you get price quotes from several of them to get a more complete price comparison.
Lexus IS 250 insurance discounts in Laredo
Auto insurance companies don’t list the complete list of policy discounts very well, so here is a list both the well known and also the more inconspicuous credits available to bring down your rates. If you are not receiving all the discounts you deserve, you’re paying more than you need to.
- Early Payment Discounts – If you pay your entire premium ahead of time rather than paying in monthly installments you can avoid the installment charge.
- Professional Organizations – Affiliation with certain professional organizations may earn a discount when getting a Laredo car insurance quote.
- Accident Forgiveness Coverage – Not necessarily a discount, but some insurance companies may permit one accident before your rates go up if you are claim-free for a certain period of time.
- No Claim Discounts – Insureds with no claims or accidents are rewarded with significantly better rates on Laredo car insurance quote in comparison to insureds who have frequent claims or accidents.
- Paperless Signup – Certain car insurance companies give back up to $50 simply for signing digitally online.
- Good Grades Discount – Maintaining excellent grades may save as much as 25% on a Laredo car insurance quote. Many companies even apply the discount to college students until age 25.
A little disclaimer on discounts, many deductions do not apply to the whole policy. Most cut the price of certain insurance coverages like liability, collision or medical payments. If you do the math and it seems like adding up those discounts means a free policy, companies wouldn’t make money that way.
The example below shows the comparison of Lexus IS 250 car insurance costs with and without discounts applied to the policy premium. Data assumes a male driver, no violations or accidents, Texas 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 marriage, claim-free, safe-driver, multi-policy, multi-car, and homeowner discounts applied.
A list of car insurance companies and some of the discounts include:
- State Farm may offer discounts for anti-theft, multiple autos, safe vehicle, good student, Drive Safe & Save, multiple policy, and driver’s education.
- Progressive may include discounts for online signing, multi-policy, continuous coverage, good student, and multi-vehicle.
- Travelers includes discounts for multi-policy, multi-car, continuous insurance, early quote, good student, and IntelliDrive.
- American Family has discounts for good student, accident-free, Steer into Savings, early bird, air bags, and defensive driver.
- Liberty Mutual offers discounts including new vehicle discount, new graduate, preferred payment discount, newly married, and safety features.
If you are trying to find affordable Laredo car insurance quotes, ask all the companies to give you their best rates. All car insurance discounts may not apply to policyholders in Laredo. To choose car insurance companies who offer car insurance discounts in Texas, click here.
Lexus IS 250 coverage analysis
The premium table displayed next outlines different policy rates for Lexus IS 250 models. Being more informed about how insurance quotes are determined is important for you to make decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 250 4-Dr Sedan||$202||$486||$392||$24||$118||$1,222||$102|
|IS 250 AWD 4-Dr||$224||$486||$392||$24||$118||$1,244||$104|
|IS 250 C 2-Dr Convertible||$224||$486||$462||$28||$138||$1,338||$112|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in vehicle location which can impact insurance rates greatly.
The information below highlights how deductible selection and can affect Lexus IS 250 insurance premiums for different ages of insureds. The prices are based on a single male driver, full physical damage coverage, and no discounts are factored in.
Insurance rate increases from tickets or accidents
The illustration below illustrates how traffic citations and at-fault claims impact Lexus IS 250 insurance prices for each different age category. The premiums are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.
Lexus IS 250 full coverage rates compared to liability only
The chart below shows the difference between Lexus IS 250 auto insurance costs with full physical damage coverage compared to only buying liability only. The costs are based on no accidents or driving violations, $100 deductibles, single marital status, and no additional discounts are factored in.
When to stop buying full coverage
There is no definitive formula to delete comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Lexus IS 250 book value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after the policy deductible has been paid. If you are paying over $700 annually to have full coverage, then it might be time to consider dropping full coverage.
There are some circumstances where dropping physical damage coverage is not a good idea. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Neighborhood agents and insurance
A small number of people would prefer to buy from a local agent and often times that is recommended One of the benefits of comparing insurance online is you may find cheap insurance quotes and also buy local.
To help locate an agent, after submitting this short form, your information is submitted to insurance agents in Laredo that can provide free Laredo car insurance quotes for your insurance coverage. It makes it easy because there is no need to leave your house because prices are sent straight to your inbox. You can get cheaper insurance rates without the usual hassles of price shopping. If you want to get a comparison quote from one company in particular, feel free to navigate to their website and fill out the quote form the provide.
Deciding on an company shouldn’t rely on just the quoted price. A good agent in Laredo will have answers to these questions.
- What kind of financial rating does the company have?
- If independent agents, which companies do they recommend?
- Is coverage determined by price?
- Do they have designations such as AIC, CPCU, or CIC?
- Can they give you a list of client referrals?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Is there any savings for paying the full premium?
Multiple types of auto insurance agents in Laredo
When researching a reputable insurance agent or broker, it helps to know the two types of insurance agents that you can select. Insurance agents are categorized either independent or exclusive.
Exclusive Insurance Agencies
Agents of this type are contracted to one company and some examples include Farmers Insurance, Allstate, or State Farm. Exclusive agents are unable to shop your coverage around so they have no alternatives for high prices. Exclusive agents are usually well trained on their products and sales techniques and that enables them to sell even at higher rates. Some people will only use the same agent primarily because of the brand legacy rather than low rates.
Listed below are exclusive agencies in Laredo willing to provide price quote information.
- Kevin Romo – State Farm Insurance Agent
7917 McPherson Rd #208 – Laredo, TX 78045 – (956) 753-9337 – View Map
- Allstate Insurance Agent: Marcus Moreno
1705 E Del Mar Blvd Ste 105a – Laredo, TX 78041 – (956) 725-4934 – View Map
- Allstate Insurance Agent: Powell-Watson Insurance Group
6301 Arena Blvd Ste A – Laredo, TX 78041 – (956) 764-4399 – View Map
Independent Agencies or Brokers
These agents are appointed with more than one company and that is an advantage because they can write policies with any number of different companies depending on which coverage is best. If prices rise, your agent can switch companies and you won’t have to switch agencies.
When searching for an agent, you need to include multiple independent agents for the best price selection. Most have the option of insuring with less well-known companies which can save you money.
Shown below are Laredo independent agents that are able to give price quote information.
- Medina Wright Insurance
1419 Clark Blvd – Laredo, TX 78040 – (956) 722-4618 – View Map
- Henri D Kahn Insurance
112 Del Ct – Laredo, TX 78041 – (800) 701-5909 – View Map
- All Around Insurance Agency, LLC
3401 N Arkansas Ave – Laredo, TX 78043 – (956) 712-1255 – View Map
After receiving positive responses to all your questions in addition to an acceptable price estimate, it’s possible that you found an auto insurance agent that can be relied on to adequately provide insurance. It’s important to know that you have the power to terminate your policy when you choose so never feel you are locked into any specific company for the entire policy term.
Informed Drivers Save on Insurance
Many factors are part of the calculation when premium rates are determined. Some of the criteria are obvious like your driving record, but other criteria are less obvious such as whether you are married or your financial responsibility.
The factors shown below are a partial list of the pieces used by your company to calculate rates.
Improve your credit rating and save – Having a bad credit score will be a significant factor in calculating your car insurance rates. If your credit score could use some work, you could be paying less to insure your Lexus IS 250 if you clean up your credit. Insureds with high credit ratings tend to be better drivers and file fewer claims as compared to drivers with worse credit.
Amount of liability protection – Liability insurance is the coverage that protects you if you are ruled to be at fault for causing damage or personal injury in an accident. This coverage provides legal defense coverage up to the limits shown on your policy. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not cut corners here.
Premiums are lower the older you get – Inexperience drivers are known to be inattentive when driving with friends therefore car insurance rates are much higher. Parents adding a teenage driver to your car insurance policy will cause a huge premium hike. Older drivers are viewed as being more responsible, are lower risk to insure, and tend to be get fewer driving tickets.
The following chart uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Only buy incidental coverages you need – Insurance policies have a lot of extra coverages that may not really be needed on your car insurance policy. Things like rental car coverage, death and dismemberment, and additional equipment coverage are probably not needed. The coverages may be enticing when talking to your agent, but your money might be better spent on other coverage so consider taking them off your policy.
Lexus IS 250 statistical loss data – Insurers study historical loss data when determining insurance rates. Models that statistically have higher number or severity of losses will cost more for coverage. The table below outlines the insurance loss data used by companies for Lexus IS 250 vehicles.
For each policy coverage, the claim probability for all vehicles compiled together is considered to be 100. Numbers under 100 indicate better than average losses, while values that are above 100 point to more losses or statistically larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lexus IS 250 4dr 2WD||179||103||177||116||146||115|
|Lexus IS 250 4dr 4WD||177||87||186||118|
|Lexus IS 250 Convertible||135||80||84|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Choosing the best vehicle insurance in Texas is an important decision
Despite the fact that insurance is not cheap in Laredo, maintaining insurance may be mandatory for several reasons.
- Most states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability protection in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a loan on your IS 250, it’s guaranteed your bank will require that you have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank may buy a policy for your Lexus at a significantly higher premium and make you pay for it.
- Insurance preserves your car and your assets. It will also cover many types of medical costs that are the result of an accident. One policy coverage, liability insurance, also covers legal expenses if anyone sues you for causing an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of insuring your IS 250 are without a doubt worth the cost, especially if you ever need it. According to a recent study, the average American driver is overpaying more than $865 each year so compare quotes from several companies at every policy renewal to ensure rates are competitive.
The most affordable rates come from being thorough
Budget-friendly auto insurance in Laredo can be purchased from both online companies and from local insurance agents, so you should be comparing quotes from both so you have a total pricing picture. Some auto insurance companies do not offer internet price quotes and these small, regional companies only sell coverage through independent agents.
When you buy Laredo car insurance online, it’s very important that you do not sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice liability limits or collision coverage only to regret at claim time that it was a big mistake. The goal is to buy the best coverage you can find at the best possible price and still be able to protect your assets.
Drivers leave their current company for any number of reasons including lack of trust in their agent, policy cancellation, high rates after DUI convictions or poor customer service. Regardless of your reason for switching companies, switching companies can be easy and end up saving you some money.
Even more information is located by following these links:
- Insurance Losses by Make and Model (iihs.org)
- What Car Insurance is Cheapest for High School Students in Laredo? (FAQ)
- How Much is Auto Insurance for Good Students in Laredo? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Immigrants in Laredo? (FAQ)
- State Laws for Cellphones and Texting (iihs.org)
- Shopping for a Safe Car (Insurance Information Institute)