Car Insurance Quotes for a Lexus GS 450h in Tampa

Really, the only way to find lower priced Lexus GS 450h insurance is to start comparing prices yearly from companies in Tampa.

Step 1: Try to understand policy coverages and the things you can change to prevent expensive coverage. Many factors that drive up the price such as at-fault accidents, speeding tickets, and a negative credit rating can be controlled by being financially responsible and driving safely.

Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Allstate, while independent agents can provide rate quotes from many different companies. View a list of agents

Step 3: Compare the new quotes to your current policy to see if a cheaper price is available. If you find a better price and buy the policy, ensure there is no coverage lapse between policies.

The key thing to know about shopping around is to make sure you’re comparing identical coverages on each quote and and to compare as many auto insurance providers as possible. Doing this helps ensure the most accurate price comparison and the best price selection.

Discount Lexus GS 450h insuranceIt’s safe to assume that insurance companies don’t want you shop around. Drivers who do rate comparisons are very likely to buy a different policy because there is a high probability of finding a lower-priced policy. A recent survey revealed that consumers who compared rates regularly saved an average of $3,450 over four years as compared to drivers who never compared other company’s rates.

If finding discount rates on Lexus GS 450h insurance in Tampa is the reason for your visit, knowing how to quote prices and compare coverage rates can help make the process easier.

When comparison shopping, more quotes will increase your chances of finding a better price.

The following companies offer price quotes in Tampa, FL. If multiple companies are listed, we suggest you visit several of them to get the best price comparison.

Rate information and statistics

The information below outlines a range of insurance costs for Lexus GS 450h models. Learning a little about how insurance premiums are calculated is important for you to make informed purchases.

Lexus GS 450h Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $406 $766 $430 $26 $128 $1,756 $146
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in vehicle garaging location which can impact insurance rates substantially.

Rate comparison for different deductibles

One of the more difficult decisions when buying auto insurance is the level to set your comp and collision deductibles. The following insurance rates show how much more rates are between low and high comp and collision deductibles. The first rate quote example uses a $250 physical damage deductible and the second rate table uses a $500 deductible.

Lexus GS 450h insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $446 $834 $418 $24 $124 $1,871 $156
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Lexus GS 450h insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GS 450H Hybrid $364 $672 $418 $24 $124 $1,602 $134
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Rates do not factor in the specific area where the vehicle is garaged which can impact price quotes substantially.

Based on this data, using a $250 deductible would cost the average driver about $22 more each month or $264 each year than buying the higher $500 deductible. Because you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you normally go at least 11 months between claim filings, you would probably save some money if you elect the higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $250 deductibles: $156
Average monthly premium for $500 deductibles (subtract): – $134
Monthly savings from raising deductible: $22
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $22
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 11 months

One important note is that higher deductibles results in a higher out-of-pocket expense at claim time. You should have enough disposable savings in the event you have to pay the higher deductible in order to repair your vehicle.

The example below illustrates how your deductible choice and can increase or decrease Lexus GS 450h insurance costs for each age group. The price estimates are based on a single male driver, full physical damage coverage, and no other discounts are factored in.

Lexus GS 450h full coverage rates compared to liability only

The example below shows the comparison of Lexus GS 450h auto insurance costs with liability coverage only compared to full coverage. The premium estimates are based on no violations or claims, $500 deductibles, drivers are not married, and no discounts are applied.

When to drop full coverage

There is no written rule of when to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your Lexus GS 450h book value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, you would only receive $7,000 after paying the physical damage deductible. If it’s costing in excess of $700 a year to have full coverage, then you may need to consider dropping full coverage.

There are a few cases where only buying liability is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.

Six Tips to Get Cheaper Tampa Insurance Costs

It’s important that you understand some of the things that are used to determine your premiums. When you understand what determines premiums, this enables you to make decisions that can earn you lower premium levels. Lots of things are taken into consideration when pricing auto insurance. Some of the criteria are obvious like a motor vehicle report, although some other factors are less obvious such as your credit history or how safe your car is.

Why insurance is not optional

Even though it’s not necessarily cheap to insure a Lexus in Tampa, insuring your vehicle is required in Florida but also provides important benefits.

The benefits of buying enough insurance are definitely more than the cost, particularly when you have a large claim. An average driver in America is overpaying more than $820 a year so you should quote and compare rates at every policy renewal to help ensure money is not being wasted.

Ratings for Florida car insurance companies

Insuring your vehicle with the top car insurance company is difficult considering how many different companies insure vehicles in Florida. The company rank data below may help you analyze which insurers to look at shopping prices with.

Top Car Insurance Companies in Florida
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Best Car Insurance Companies