2016 Lexus LX 570 Insurance Cost in 2024 – 7 Tricks for Cheapest Prices

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 5, 2024

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Having to pay for high-priced insurance coverage can sap your funds and force you to make tough financial choices. Comparing rate quotes is a great way to lower your bills every month.

Big-name insurance companies like State Farm and GEICO constantly bombard you with catchy ads and consumers find it hard to ignore the flashy ads and take the time to shop coverage around.

If you have a current insurance coverage policy or are shopping for new coverage, you can use this information to shop for the lowest rates and still get good coverage. Finding the best rates is easy if you know what you’re doing. Vehicle owners only need an understanding of how to find the lowest price online.

Compare quotes for insurance coverage

Finding a lower price on 2016 Lexus LX 570 insurance is pretty simple and can save money. Just invest a few minutes to compare free auto insurance quotes provided by online insurance companies. This is very easy and can be done by using one of the methods below.

  1. One of the fastest ways to find the lowest comparison rates would be an industry-wide quote request form. This quick form keeps you from doing repetitive form entry for each company you want a rate for. Filling out one form will return price quotes from insurance coverage companies with the best prices.
  2. Another way to find better pricing is to manually visit each individual company website to request a price quote. For examples sake, we’ll assume you want to compare USAA, Safeco and State Farm. You would have to spend time going to each site individually to input your insurance information, which explains why we recommend starting with the first method.

You can choose any of those ways to find more affordable coverage, but be sure you’re using the same coverage limits for each price quote. If you have different values for each quote it will be impossible to find the best deal for your Lexus LX 570.

These seven discounts can lower your auto insurance quotes

Companies offering auto insurance don’t necessarily list their entire list of discounts in an easy-to-find place, so we break down some of the more common and the harder-to-find discounts you could be receiving when you buy auto insurance online.

  • Early Renewal Discounts – A few larger companies offer discounts for renewing your policy early. It’s a savings of about 10%.
  • Discount for New Cars – Insuring a vehicle that is new can cost up to 25% less because newer vehicles keep occupants safer.
  • Responsible Driver Discount – Insureds without accidents can save as much as half off their rates for LX 570 coverage than drivers with accident claims.
  • Good Student Discount – Excelling in school can be rewarded with saving of up to 25%. You can use this discount normally until age 25.
  • Senior Citizen Rates – Seniors could receive lower premium rates for LX 570 coverage.
  • Theft Prevention Discount – Cars and trucks optioned with advanced anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • College Student Discount – Kids who are enrolled in higher education away from home and do not take a car to college can be insured at a reduced rate.

As is typical with insurance, some of the credits will not apply to your bottom line cost. Most only apply to specific coverage prices like liability and collision coverage. So even though you would think you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.

If you would like to view insurers who offer online auto insurance quotes, enter your zip code here.

Different people need different insurance coverages

When choosing the best insurance coverage, there really is no one size fits all plan. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that could help you determine whether your personal situation may require specific advice.

  • Does my insurance cover a custom paint job?
  • Do I need PIP coverage since I have good health insurance?
  • Can I rate high risk drivers on liability-only vehicles?
  • What is UM/UIM insurance?
  • Are rental cars covered under my policy?
  • Exactly who is provided coverage by my policy?

If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete your zip code. It’s fast, doesn’t cost anything and you can get the answers you need.

Misconceptions in insurance advertisements

Consumers can’t escape the ads that promise big savings by companies like 21st Century, Allstate and State Farm. All the ads make the point that you can save after switching your coverage.

Is it even possible that every company can lower your premium rates? It’s all in the numbers.

Most companies are able to cherry pick for a prospective insured that earns them the highest profit. For example, a profitable insured may need to be over the age of 40, has few claims, and drives a vehicle with a low ISO rating. A prospective insured that meets those criteria will qualify for the lowest prices and will also save a lot if they switch.

Potential customers who do not meet those criteria will get a more expensive rate with the end result being business going elsewhere. If you pay attention, the ads say “drivers that switch” but not “all drivers who get quotes” save money. That is how insurance companies can confidently make claims that they all have the best car insurance rates.

This really emphasizes why drivers must do a rate comparison at every renewal. It is impossible to guess with any certainty which company will have the lowest rate quotes.

Auto insurance policy specifics

Knowing the specifics of your auto insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be ambiguous and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average auto insurance policy.

Auto collision coverage

This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as colliding with another moving vehicle, scraping a guard rail, sustaining damage from a pot hole and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to bring the cost down.

Auto liability insurance

Liability insurance will cover injuries or damage you cause to other’s property or people by causing an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for claims such as loss of income, repair costs for stationary objects, medical expenses, court costs and bail bonds. How much liability should you purchase? That is up to you, but consider buying as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for rehabilitation expenses, ambulance fees and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus LX 570.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally these limits do not exceed the liability coverage limits.

Comprehensive insurance

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like theft, hitting a bird, hitting a deer and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

The bottom line

When shopping online for insurance, it’s a bad idea to reduce needed coverages to save money. There are many occasions where consumers will sacrifice uninsured motorist or liability limits only to discover later they didn’t have enough coverage. Your objective should be to purchase a proper amount of coverage for the lowest price.

Lower-priced insurance can be found on the web in addition to many insurance agents, and you should compare price quotes from both so you have a total pricing picture. A few companies may not offer internet price quotes and many times these small insurance companies sell through independent agencies.

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