Compare Lexus RX 350 Insurance Quotes in Anchorage

A recent car insurance study revealed that most car insurance buyers in Alaska renewed their policy with the same company for over three years, and virtually 40% of consumers have never even shopped around for lower-cost coverage. The average driver in the U.S. can save $850 each year just by shopping around, but most just don’t grasp the actual amount they would save if they replace their high priced policy.

If you want to find the absolute lowest rates, then the best way to get discount Lexus RX 350 insurance in Anchorage is to compare prices at least once a year from companies who sell insurance in Alaska. You can compare rates by following these steps.

First, take a few minutes and learn about how your policy works and the measures you can control to prevent expensive coverage. Many policy risk factors that are responsible for high rates such as distracted driving and an unacceptable credit rating can be controlled by making lifestyle changes or driving safer. Keep reading for more details to get cheaper coverage and get discounts that may be available to you.

Second, request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO or State Farm, while independent agencies can provide prices for a wide range of companies.

Third, compare the quotes to your existing policy to determine if switching companies saves money. If you find a better price and switch companies, verify that coverage does not lapse between policies.

Fourth, provide notification to your current company of your intention to cancel your current auto insurance policy. Submit a down payment along with a signed application to the new insurer. Once the application is submitted, place your new certificate verifying proof of insurance with your registration paperwork.

One important bit of advice is to make sure you’re comparing similar coverage information on every quote request and and to get prices from as many companies as possible. This provides an apples-to-apples comparison and a complete price analysis.

How much does Lexus RX 350 insurance in Anchorage cost?

Most larger insurance companies allow consumers to get coverage price quotes direct online. Getting quotes for Lexus RX 350 insurance in Anchorage is fairly simple as you just type in your required coverages into the form. Once entered, the system will order your driving record and credit report and gives you a price quote based on these and other factors.

This makes comparing rates easy, and it’s necessary to have as many quotes as possible if you want to find a lower rate.

To compare rates using this form now, compare quotes from the companies shown below. If you have a policy now, it’s recommended you input the limits and deductibles identical to your current policy. This way, you’re receiving a price comparison for similar coverage.

The car insurance companies shown below offer free quotes in Alaska. To locate cheap car insurance in Anchorage, we recommend you visit several of them to find the most competitive car insurance rates.

Lexus RX 350 insurance rates and statistics

The table displayed below outlines different rate quotes for Lexus RX 350 models. Learning how auto insurance policy rates are calculated can aid in making decisions when shopping around.

Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Premium costs do not factor in specific Anchorage garaging location which can increase or decrease prices greatly.

Higher deductibles save money

A question often asked by Anchorage drivers is at what level do you set your deductibles. The tables below may aid in understanding the difference in cost of buying low and high comp and collision deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Information does not factor in zip code location which can raise or lower auto insurance rates noticeably.

Using the data above, we can ascertain that using a $100 deductible will cost you roughly $24 more each month or $288 annually than requesting the higher $500 deductible. Because you would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you usually have at least 17 months between claim filings, you would most likely save money if you opt for a higher deductible. The illustration below shows an example of how this determination is made.

One important issue to know is that increasing deductibles to lower your rates means you will have to pay more out-of-pocket when you have to file a claim. That will require enough disposable savings in the event you need to pay the higher deductible in order to repair your vehicle.

The diagram below demonstrates how deductible levels and can influence Lexus RX 350 premium costs for different age groups of insureds. The premium estimates are based on a married male driver, full coverage, and no discounts are applied.

Car insurance rates are higher with tickets and accidents

The information below shows how violations and fender-benders can impact Lexus RX 350 premium costs for each different age category. The rates are based on a married female driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.

Car insurance premiums based on gender

The chart below shows the comparison of Lexus RX 350 auto insurance costs for male and female drivers. The price estimates are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Liability only or full coverage

The information below compares Lexus RX 350 insurance prices with full coverage compared to only the Alaska minimum liability coverage. The rates are based on no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

When to buy liability coverage only

There isn’t a written rule that is best for determining when to drop full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Lexus RX 350 replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after you pay the deductible. If premium cost is more than $200 annually for your policy with full coverage, then it could be time to drop full coverage.

There are some cases where buying only liability insurance is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.

Auto insurance is not optional in Alaska

Despite the high cost of buying insurance for a Lexus RX 350 in Anchorage, paying for auto insurance is a good idea for several reasons.

• Most states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to drive the car. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If your vehicle has a lienholder, more than likely the lender will stipulate that you have full coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may insure your Lexus for a lot more money and make you pay the higher premium.
• Auto insurance protects not only your Lexus but also your financial assets. It will also reimburse you for most medical and hospital costs for yourself as well as anyone injured by you. Liability insurance also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of buying auto insurance definitely exceed the price paid, specifically if you ever have a liability claim. As of last year, the average driver in Alaska is wasting up to $700 annually so it’s very important to do a rate comparison at every renewal to save money.

Anchorage Insurance Prices are Influenced by These Factors

Lots of things are part of the calculation when you quote your car insurance policy. A few of the factors are predictable like your driving record, but others are not as apparent such as your credit history and annual miles driven.

Shown below are some of the most common factors used by companies to determine prices.

Adjust coverage deductibles and save – Protection for physical damage, also called ‘full coverage’, covers your vehicle from damage. Examples of some claims that would be covered would be collision with another vehicle, flood damage, and having your car stolen. Deductibles for physical damage represent how much money you are willing to pay out-of-pocket in the event of a claim. The larger the amount you choose to pay out-of-pocket, the less money you will pay for auto insurance.

Maintain auto insurance coverage – Letting your insurance expire is a fast way to increase your rates. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you a steep fine or even jail time.

Inexpensive frequent policy claims are not good – Companies in Alaska give most affordable rates to insureds who file claims infrequently. If you’re an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Insurance coverage is meant to be used in the event of the large, substantial claims.

Performance affects premiums – The performance level of the car you drive makes a substantial difference in your rates. Economy passenger cars generally have the cheapest insurance rates, but other factors influence the final cost greatly.

The following data assumes a married male driver age 20, full coverage with $250 deductibles, and no discounts or violations. The data compares Lexus RX 350 rates compared to other models of vehicles that have a range of performance rating factors.

Lexus RX 350 insurance loss data – Insurers use past loss statistics for each vehicle to help calculate a profitable premium price. Models that the data shows to have a trend towards higher claim severity or frequency will have higher premium rates.

The next table shows the insurance loss data used by companies for Lexus RX 350 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is a value of 100. Values under 100 suggest a better than average loss history, while values that are above 100 indicate higher probability of having a loss or larger claims.

Don’t overlook these Lexus RX 350 insurance discounts

Auto insurance companies don’t necessarily list every possible discount in a way that’s easy to find, so the below list has both well-publicized as well as some of the hidden discounts that you can inquire about if you buy Anchorage car insurance online.

• Multiple Vehicles – Buying coverage for more than one vehicle on one policy qualifies for this discount.
• Payment Method – If paying your policy premium upfront rather than spreading payments over time you could save 5% or more.
• Defensive Driver Discount – Completing a course teaching defensive driver skills could cut 5% off your bill and make you a better driver.
• Student Discounts – This discount can get you a discount of up to 25%. The discount lasts well after school through age 25.
• Buy New and Save – Putting coverage on a new RX 350 can save you some money due to better safety requirements for newer vehicles.

As a footnote on discounts, many deductions do not apply to the whole policy. Most only reduce the price of certain insurance coverages like comp or med pay. Just because you may think all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

The example below shows the comparison of Lexus RX 350 auto insurance rates with and without some available policy discounts. The premiums assume a female driver, no violations or claims, Alaska state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, multi-policy, claim-free, safe-driver, and marriage discounts applied.

A list of auto insurance companies and a partial list of their discounts can be read below.

• Farm Bureau may offer discounts for multi-policy, renewal discount, driver training, good student, and 55 and retired.
• State Farm includes discounts for defensive driving training, Drive Safe & Save, anti-theft, student away at school, driver’s education, and good student.
• Progressive has discounts for multi-vehicle, continuous coverage, multi-policy, good student, and homeowner.
• Allstate discounts include defensive driver, utility vehicle, EZ pay plan discount, FullPay discount, eSmart discount, premier plus, and anti-theft.
• Nationwide has savings for defensive driving, good student, accident-free, family plan, Farm Bureau membership, anti-theft, and multi-policy.
• MetLife offers discounts including good student, defensive driver, multi-policy, accident-free, claim-free, and good driver.

Before purchasing a policy, check with every prospective company what discounts are available to you. Savings may not be available in your state. For a list of companies who offer free Lexus RX 350 insurance quotes in Alaska, follow this link.

Insurance agents can find coverage gaps

Certain consumers would prefer to get professional advice from a licensed agent and that can be a smart move One of the best bonuses of getting online price quotes is that drivers can save money and get lower prices but also keep your business local.

For easy comparison, once you complete this short form, the coverage information gets sent to local insurance agents in Anchorage that can give you free Anchorage car insurance quotes to get your business. You won’t need to leave your computer as quotes are delivered directly to you. You’ll get the best rates and a licensed agent to work with. If you want to get a rate quote for a specific company, you would need to visit that company’s website and fill out the quote form the provide.

Selecting an provider requires more thought than just a cheap price. Any good agent in Anchorage should know the answers to these questions.

• Is the coverage adequate for your vehicle?
• How will an accident affect your rates?
• Do they have designations such as AIC, CPCU, or CIC?
• Does the company have a local claim office in Anchorage?
• Are there any discounts that you might be missing?
• Can they help ensure a fair claim settlement?
• Can they give you a list of client referrals?

If you want to use a local agent, you need to know there are two types of insurance agents that differ in how they can insure your vehicles. Anchorage agents can be described as either independent agents or exclusive agents depending on their employer.

Exclusive Insurance Agencies

Exclusive insurance agents can only write with one company and some examples include Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot provide other company’s prices so it’s a take it or leave it situation. Exclusive agents are well trained on what they offer and that can be a competitive advantage. Some consumers prefer to choose to use a exclusive agent primarily because of loyalty to the company and the convenience of having all coverages with one company.

The following are exclusive insurance agencies in Anchorage that are able to give price quotes.

• Allstate Insurance: Devery Prince Agency Team
  401 E Fireweed Ln Ste 200 – Anchorage, AK 99503 – (907) 279-9000 – View Map
• State Farm: Charity Carmody
  405 W Benson Blvd – Anchorage, AK 99503 – (907) 336-8800 – View Map
• Art Dorsey – State Farm Insurance Agent
  9191 Old Seward Hwy #6 – Anchorage, AK 99515 – (907) 522-1231 – View Map

More insurance agents

Independent Insurance Agents

Independent agencies are not required to write business for one company and that is an advantage because they can write policies through many companies and find you cheaper rates. If your agent finds better pricing, they simply move the coverage in-house which is easy for the insured.

When comparing auto insurance prices, you will definitely want to get several quotes from a few independent agents to get the most accurate price comparison. Most independent agents also contract with mutual insurance companies which may have better rates.

The following are Anchorage independent insurance agencies that are able to give rate quotes.

• Denali Alaskan Insurance LLC
  440 E 36th Ave #300 – Anchorage, AK 99503 – (907) 257-1625 – View Map
• Kent S Kallander Insurance Agency Inc
  1317 W Northern Lights Blvd #9 – Anchorage, AK 99503 – (907) 563-1492 – View Map
• Horace Mann Insurance Co
  7926 Old Seward Hwy – Anchorage, AK 99518 – (907) 561-1393 – View Map

More insurance agents

If you get good answers and an acceptable price quote, most likely you have located an insurance agency that meets your needs to service your policy. But remember, you can always terminate your policy when you choose so never feel you are locked into a policy for a certain time period.

One last thing about your coverage

We’ve covered some good ideas how you can save on Lexus RX 350 insurance in Anchorage. It’s most important to understand that the more providers you compare, the better likelihood of getting inexpensive Anchorage car insurance quotes. You may even find the lowest priced insurance comes from some of the lesser-known companies.

Consumers leave their current company for a variety of reasons including policy non-renewal, not issuing a premium refund, poor customer service or being labeled a high risk driver. Whatever your reason, switching companies can be easier than you think.

As you prepare to switch companies, it’s a bad idea to skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut uninsured motorist or liability limits only to discover later that the small savings ended up costing them much more. Your goal should be to buy enough coverage at the best cost.

Additional information can be read on the following sites:

• Older Drivers FAQ (iihs.org)
• How Much is Anchorage Car Insurance for Drivers Over Age 50? (FAQ)
• Who Has Cheap Anchorage Auto Insurance Rates for State Employees? (FAQ)
• Who Has Affordable Car Insurance Quotes for a Ford Explorer in Anchorage? (FAQ)
• Rental Reimbursement Coverage (Allstate)
• Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)