How to Compare Anchorage Lexus GX 460 Insurance

Looking for more affordable insurance rates in Anchorage, AK? Anchorage buyers have many options when searching for low-cost Lexus GX 460 insurance. They can either waste time struggling with agents getting price quotes or utilize the internet to get rate quotes. There is a better way to shop for insurance so we’re going to tell you the best way to compare rates for a Lexus and obtain the best price possible from Anchorage insurance agents and online providers.

Low Cost companies for Lexus GX 460 insurance

The auto insurance companies shown below have been selected to offer quotes in Anchorage, AK. To get cheaper auto insurance in Anchorage, we recommend you visit several of them to find the most competitive auto insurance rates.

Lexus GX 460 insurance analysis

The data table below covers estimates of insurance prices for Lexus GX 460 models. Having knowledge of how insurance policy rates are formulated can be valuable when making decisions on the best policy coverages.

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Price information does not factor in specific location information which can alter premiums substantially.

Comparison of policy deductibles

One of the more difficult decisions when buying car insurance is the level to set your comp and collision deductibles. The rates shown below may aid in understanding the costs and benefits between high and low coverage deductibles. The first data table uses a $250 deductible for comp and collision and the second price table uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Premium costs do not factor in Anchorage location which can alter premium rates substantially.

Using the data above, we can ascertain that using a $250 deductible will cost you approximately $14 more each month or $168 every year averaged for all GX 460 models than quoting the higher $500 deductible. Because you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at least 18 months between claim filings, you would probably come out ahead if you opt for a higher deductible.

An important sidenote is that higher deductibles means you pay more out-of-pocket if you have a claim. You need to make sure you have some savings in the event you need to pay more to get your vehicle repaired.

Car insurance rates based on gender

The information below illustrates the difference between Lexus GX 460 insurance costs for male and female drivers. The rates are based on no violations or claims, comprehensive and collision coverage, $500 deductibles, single status, and no policy discounts are applied.

Rate comparison of full coverage and liability-only

The example below compares Lexus GX 460 insurance costs with and without physical damage coverage. The price estimates are based on no claims or driving violations, $500 deductibles, single status, and no discounts are applied to the premium.

Should you pay for full coverage or liability only?

There is no definitive rule to stop paying for physical damage insurance, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s pretend your Lexus GX 460 replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If you are paying over $200 annually for full coverage, then you might want to think about dropping full coverage.

There are some cases where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Cheap Lexus GX 460 insurance in Anchorage

Insurance is not cheap nor is it fun to buy but companies offer discounts that can help lower your rates. A few discounts will automatically apply when you purchase, but some need to be specially asked for before you will receive the discount.

• Claim Free – Claim-free drivers can earn big discounts as compared to bad drivers.
• Military Discounts – Being deployed in the military may qualify for rate reductions.
• Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discounted rate on car insurance if you buy a life policy as well.
• Save with a New Car – Putting coverage on a new GX 460 may earn a small discount since newer models have better safety ratings.
• Low Mileage Discounts – Low annual miles could earn substantially lower rates.
• Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and will qualify for a discount on a Anchorage auto insurance quote.
• Distant College Student Discount – Youth drivers who live away from home at college and do not have a car may be able to be covered for less.
• Mature Driver Discount – If you qualify as a senior citizen, you may receive a slight reduction on a Anchorage auto insurance quote.

Discounts save money, but please remember that many deductions do not apply to the entire cost. Some only apply to individual premiums such as medical payments or collision. Even though the math looks like it’s possible to get free car insurance, company stockholders wouldn’t be very happy. But all discounts will help reduce the premium cost.

The example below illustrates the difference between Lexus GX 460 insurance prices with and without discounts applied to the rates. The rate quotes are based on a male driver, no driving violations, no at-fault accidents, Alaska state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, multi-car, homeowner, and marriage discounts applied.

A few of the larger companies and some of their more popular discounts are shown below.

• Farm Bureau has discounts for multi-policy, renewal discount, driver training, good student, and 55 and retired.
• MetLife may have discounts that include claim-free, good student, multi-policy, accident-free, defensive driver, and good driver.
• Progressive has savings for online signing, multi-policy, online quote discount, continuous coverage, homeowner, good student, and multi-vehicle.
• AAA offers premium reductions for good student, education and occupation, good driver, multi-car, and pay-in-full.
• American Family discounts include accident-free, TimeAway discount, good student, air bags, and early bird.
• GEICO offers discounts including defensive driver, good student, membership and employees, air bags, and emergency military deployment.
• State Farm includes discounts for safe vehicle, good driver, defensive driving training, anti-theft, student away at school, and passive restraint.

When comparing rates, check with each company or agent which discounts they offer. Savings might not apply in Anchorage.

How Car Insurance Companies Determine Lexus GX 460 Insurance Prices

Consumers need to have an understanding of the different types of things that help calculate your premiums. When consumers understand what determines base rates, this allows you to make good choices that can help you get better insurance rates. Many factors are taken into consideration when you get a price on insurance. A few of the factors are predictable like a motor vehicle report, although others are less apparent like where you live or your commute time.

• Raise coverage deductibles and save – Comp and collision deductibles state the amount of money you are required to spend out-of-pocket in the event of a claim. Physical damage insurance, also called ‘full coverage’, covers damage that occurs to your car. A few examples of covered claims are a windshield broken by a bird, damage caused by hail, and damage from wind. The more the insured is willing to pay, the less your company will charge you for insurance.

• Don’t get traffic citations – How you drive impacts premiums far more than you think. Good drivers get better rates than bad drivers. Just one driving citation may increase your cost by as much as twenty percent. Drivers who have received serious violations such as DUI or reckless driving may be required to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to legally drive a vehicle.

  The diagram below shows how traffic citations and at-fault accidents impact Lexus GX 460 insurance costs for each age group. The premium estimates are based on a single male driver, full coverage, $500 deductibles, and no additional discounts are factored in.

• The type of car makes a difference – The make and model of the vehicle you need to insure makes a substantial difference in the rate you pay. Smaller low performance passenger cars receive the most favorable rates, but other factors influence the final cost greatly.

  The following data is based on a single female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It illustrates Lexus GX 460 insurance rates compared to other models of vehicles that have different risk factors.

• Safer occupants lowers insurance rates – Safe vehicles cost less to insure. Vehicles built for safety reduce the chance of injuries and lower injury rates means less claims paid and thus lower rates.
• Combine policies with the same company – Most larger insurance companies apply lower prices to buyers who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to ten percent or more. Even if you already get this discount, you may still want to check prices from other companies to make sure you are getting the best deal.
• Little extras can really add up – Policies have additional coverages that can waste your money but may not be useful. Insurance for things like vanishing deductibles, high-cost glass coverage, and additional equipment coverage may be costing you every month. The coverages may be enticing when discussing your needs, but if you’ve never needed them in the past consider taking them off your policy.
• How credit score affects insurance prices – A driver’s credit history can be a huge factor in determining your rates. Therefore, if your credit rating can be improved, you may save money insuring your Lexus GX 460 if you clean up your credit. Consumers who have excellent credit scores tend to be better risks to insure as compared to drivers with bad credit.
• Rural vs Urban Areas – Choosing to live in areas with lower population may provide you with better prices when it comes to insurance. Drivers in populated areas have to deal with traffic congestion and much longer commute distances. Fewer drivers on the road translates into fewer accident claims in addition to fewer liability claims.

• Lexus GX 460 insurance loss data – Insurance companies include the past claim history for a vehicle as a tool for profitable underwriting. Vehicles that tend to have higher frequency or amount of claims will have a higher cost to insure.

  The table below illustrates the loss history for Lexus GX 460 vehicles. For each coverage type, the claim probability for all vehicles combined as an average is set at 100. Values that are under 100 represent a good loss history, while percentage numbers above 100 indicate more frequent losses or tendency to have higher losses.

  
  

  Lexus GX 460 Insurance Claim Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lexus GX 460 4dr 4WD	97	100	125	63	52	63

  BETTER

  AVERAGE

  WORSE

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

Your situation helps dictate your coverage

When selecting the right insurance coverage, there really is no “best” method to buy coverage. Everyone’s situation is unique.

Here are some questions about coverages that may help you determine if your situation would benefit from an agent’s advice.

• Can my teen driver be rated on a liability-only vehicle?
• Am I insured when driving a different vehicle?
• Am I covered if I hit someone who is not insured?
• Do I need added coverage for expensive stereo equipment?
• Can I afford to buy a different vehicle if my Lexus GX 460 is totaled?
• Are there companies who specialize in insuring high-risk drivers?
• Should I buy only the required Alaska minimum liability coverage?
• Are there any extra discounts I can get?
• Where can I find DUI or SR-22 insurance?

If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, complete this form. It only takes a few minutes and you can get the answers you need.

Are insurance agencies used anymore?

Many drivers would prefer to get professional advice from a licensed agent and we recommend doing that Licensed agents are very good at helping people manage risk and help in the event of a claim. A good thing about comparing rate quotes online is that you can find the lowest rates and still buy from a local agent.

Once you complete this form (opens in new window), your coverage information gets sent to agents in your area that can provide free Anchorage auto insurance quotes for your coverage. You won’t even need to even leave your home because prices are sent to you directly. If you need to get a price quote from a specific insurance company, you would need to search and find their rate quote page and complete a quote there.

Picking the best insurance company requires more thought than just a cheap price. Any good agent in Anchorage should know the answers to these questions.

• Will one accident increase rates?
• If you raise deductibles, how much can you save?
• Are all drivers listed on the coverage quote?
• Do you qualify for any additional discounts?
• Do they have cheaper tiers of coverage?
• Does the agent have professional designations like CIC, CPCU or AIC?
• Where would your vehicle be repaired?

Do you need an independent or exclusive car insurance agent?

When narrowing the list to find a good Anchorage insurance agent, it helps to know the two types of agencies and how they can quote your rates. Agents in Anchorage are considered either independent (non-exclusive) or exclusive. Both can insure your vehicles, but it’s important to know why they differ because it may have an impact on your selection of an agent.

Exclusive Agencies

Agents in the exclusive channel work for only one company like State Farm or Allstate. They are unable to provide rate quotes from other companies so keep that in mind. These agents are well schooled on their company’s products which can be an advantage. Some people will only choose to use a exclusive agent partially due to the brand and the convenience of having a single billing for all their coverages.

Listed below is a list of exclusive agencies in Anchorage willing to provide comparison quotes.

• Allstate Insurance: Ann T. Steck-Nale
  1120 Huffman Rd, Ste A21 – Anchorage, AK 99515 – (907) 333-4411 – View Map
• Herb Schlereth – State Farm Insurance Agent
  225 E Fireweed Ln #101 – Anchorage, AK 99503 – (907) 277-5548 – View Map
• Bill Evans – State Farm Insurance Agent
  805 Gambell St – Anchorage, AK 99501 – (907) 276-2424 – View Map

More Anchorage agents

Independent Car Insurance Agents

Agents in the independent channel are not required to write business for one company so they can quote policies with lots of companies and find you cheaper rates. If they find a lower price, they simply switch companies in-house which is easy for the insured. When comparison shopping, you will definitely want to include rate quotes from at a minimum one independent agency to have the most options to choose from. Most also write with companies that do not advertise much that many times have cheaper rates.

Shown below is a list of independent insurance agencies in Anchorage that can give you price quote information.

• The Wilson Agency
  3000 A St #400 – Anchorage, AK 99503 – (907) 277-1616 – View Map
• Randall Moss Insurance
  2960 C St #200 – Anchorage, AK 99503 – (907) 562-6224 – View Map
• Alaska Pacific Insurance Agency dba: APIA Insurance
  912 E 15th Ave #100 – Anchorage, AK 99501 – (800) 890-5563 – View Map

More Anchorage agents

After getting reasonable responses to these questions and a good coverage price, it’s a good possibility that you have found an auto insurance agent that can be relied on to properly insure your vehicles.

What is the best car insurance company in Alaska?

Choosing the highest-rated company can be difficult considering how many companies sell coverage in Anchorage. The rank data shown next can help you choose which companies you want to consider when comparing rate quotes.

Top 10 Anchorage Car Insurance Companies Ranked by Value

1. USAA
2. American Family
3. The Hartford
4. The General
5. State Farm
6. AAA Insurance
7. Allstate
8. Esurance
9. Safeco
10. 21st Century

Cheaper car insurance prices are available

Cost effective Lexus GX 460 insurance can be bought from both online companies in addition to local insurance agencies, and you should be comparing both to have the best chance of lowering rates. Some companies may not offer internet price quotes and usually these small, regional companies provide coverage only through independent agents.

We just covered a lot of techniques to shop for Lexus GX 460 insurance online. The key concept to understand is the more times you quote, the better your chances of lowering your rates. You may even be surprised to find that the best prices are with the least-expected company.

When getting Anchorage auto insurance quotes online, you should never reduce needed coverages to save money. There are a lot of situations where an insured cut full coverage only to regret that it was a big error on their part. Your goal should be to purchase plenty of coverage for the lowest cost and still be able to protect your assets.

Steps to finding cheaper Lexus GX 460 insurance in Anchorage

The easiest way to get discount Lexus GX 460 insurance in Anchorage is to do an annual price comparison from companies who provide car insurance in Alaska. Rate comparisons can be done by completing these steps.

1. Try to understand how insurance works and the steps you can take to keep rates down. Many risk factors that result in higher rates such as accidents, traffic tickets, and a less-than-favorable credit history can be rectified by making lifestyle changes or driving safer.
2. Compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can quote prices from multiple companies.
3. Compare the new rates to your current policy and determine if there is any savings. If you find better rates and decide to switch, make sure coverage is continuous and does not lapse.
4. Provide notification to your current agent or company to cancel your current coverage. Submit the completed application along with a down payment to your new carrier. As soon as you can, safely store the certificate of insurance with the vehicle registration.

An essential thing to point out is to use the same coverage limits and deductibles on each quote and and to look at every insurance company. Doing this helps ensure the most accurate price comparison and maximum price selection.

More tips and info about car insurance is available in the articles below:

• Red Light Cameras (State Farm)
• What Car Insurance is Cheapest for a Subaru Outback in Anchorage? (FAQ)
• How Much are Auto Insurance Rates for a Company Car in Anchorage? (FAQ)
• What Insurance is Cheapest for Veterans in Anchorage? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for a 20 Year Old Male in Anchorage? (FAQ)
• How Much is Anchorage Auto Insurance for a Hyundai Elantra? (FAQ)
• Who Has Affordable Car Insurance Quotes for Low Credit Scores in Anchorage? (FAQ)
• Rental Reimbursement Coverage (Allstate)
• Smart Auto Insurance Tips (Insurance Information Institute)