Best Ways to Save on Cleveland Lexus ES 350 Insurance

Insurance quote for Lexus ES 350 in ClevelandIf you want to find the absolute lowest rates, then the best way to get more affordable Lexus ES 350 insurance in Cleveland is to compare prices regularly from providers who provide car insurance in Ohio.

A tip to remember is to make sure you’re comparing identical coverages on each price quote and and to get quotes from as many car insurance companies as possible. Doing this provides an accurate price comparison and the best price selection.

It’s easy to assume that car insurance companies don’t want you to compare rates. Insureds who shop around for a cheaper policy are likely to switch companies because they stand a good chance of finding better rates. A recent survey discovered that drivers who shopped around saved $860 a year as compared to drivers who don’t regularly compare prices.

If finding the lowest price for car insurance in Cleveland is the reason for your visit, then having some insight into how to get rate quotes and compare car insurance can make it easier to shop your coverage around.

If you are already insured, you will surely be able to reduce the price you pay using the following tips. Quoting and comparing affordable auto insurance in Cleveland is quite easy. Although Ohio vehicle owners do need to understand how the larger insurance companies price online insurance because rates are impacted by many factors.

Compare Cleveland Lexus ES 350 insurance rate quotes online

When comparison shopping, comparing more quotes provides better odds of finding the best price.

The following companies have been selected to offer free rate quotes in Cleveland, OH. If multiple companies are listed, we suggest you visit two to three different companies to find the cheapest auto insurance rates.

Insurance discounts are available to lower rates

Auto insurance companies don’t always publicize all discounts in an easy-to-find place, so the following list contains both well-publicized in addition to some of the lesser obvious credits available to you.Save money with discounts

Discounts reduce rates, but you should keep in mind that most discounts do not apply to the whole policy. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So when the math indicates having all the discounts means you get insurance for free, it doesn’t quite work that way. But all discounts will positively reduce the cost of coverage.

The chart below visualizes the comparison of Lexus ES 350 premium costs with and without discounts being applied to the rates. The information is based on a male driver, no violations or accidents, Ohio state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, homeowner, safe-driver, multi-car, and claim-free discounts applied.

Some of the insurance companies who may offer many of the previously listed discounts are:

If you want low cost Cleveland auto insurance quotes, ask every insurance company to apply every possible discount. Some discounts may not be available in Cleveland. If you would like to see a list of insurance companies that have a full spectrum of discounts in Ohio, click this link.

Lexus ES 350 insurance rates and statistics

The coverage table shown next outlines different policy rates for Lexus ES 350 models. Learning more about how insurance prices are formulated can benefit drivers when making decisions on the best policy coverages.

Lexus ES 350 Insurance Rates in Cleveland, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $124 $232 $198 $12 $60 $626 $52
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Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in specific Cleveland garaging location which can modify rates noticeably.

Physical damage deductibles

When buying auto insurance, a common question is which comprehensive and collision deductibles to buy. The data tables below lay out the price difference when you choose different deductibles. The first set of rates uses a $250 deductible for physical damage and the second price table uses a $500 deductible.

Lexus ES 350 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $220 $400 $192 $12 $58 $907 $76
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Lexus ES 350 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
ES 350 $180 $324 $192 $12 $58 $766 $64
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in specific garaging location which can increase or decrease prices significantly.

Using the data above, we can ascertain that using a $250 deductible costs approximately $12 more each month or $144 every year across all Lexus ES 350 models than selecting the higher $500 deductible. Since you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average more than 21 months between claims, you would probably be better off by going with a higher deductible. Below is a better example of how you can come to your own conclusion.

Average monthly premium for $250 deductibles: $76
Average monthly premium for $500 deductibles (subtract): – $64
Monthly savings from raising deductible: $12
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One thing to note is that increasing deductibles to lower your rates results in having to pay to pay more out-of-pocket when you have a physical damage claim. That will require enough money put aside in the event you need to pay the higher deductible in order to repair your vehicle.

Illustration showing the impact of accidents and violations

The diagram below shows how violations and at-fault collisions influence Lexus ES 350 insurance prices for each age group. The prices are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

Auto insurance prices based on gender

The illustration below compares Lexus ES 350 yearly insurance costs for male and female drivers. The premiums assume no accidents or driving violations, full physical damage coverage, $500 deductibles, single status, and no policy discounts are applied.

Lower Your Cleveland Insurance Premiums

One of the most helpful ways to save on car insurance is to to have a grasp of the factors that come into play when calculating the price you pay for car insurance. If you know what determines base rates, this empowers consumers to make smart changes that may reward you with cheaper rates.

A policy lapse can increase car insurance rates – Allowing your car insurance policy to lapse is a fast way to drive up your policy premiums. And not only will your rates increase, the inability to provide proof of insurance could result in a steep fine or even jail time. You may then be required to prove you have insurance by filing a SR-22 with the Ohio department of motor vehicles.

Car features impact prices – Purchasing a vehicle with a theft deterrent system can save you some money. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent car theft.

Marriage is a factor – Your spouse may save some money on your car insurance bill. It generally demonstrates drivers are more responsible and insurance companies like that married couples file fewer claims.

The higher your credit score the lower your costs – Having a bad credit history can be an important factor in your rate calculation. Drivers with very good credit scores tend to be more responsible and file fewer claims than drivers who have lower credit scores. If your credit score leaves room for improvement, you may save money insuring your Lexus ES 350 by taking the time to improve your credit score.

Rates can be impacted by your employer – Did you know your car insurance rates can be affected by your occupation? Jobs such as military generals, airline pilots, and dentists tend to have higher rates than the rest of us in part from intense work-related stress and long work days. On the other hand, occupations such as scientists, engineers and the unemployed pay the least.

More performance means higher prices – The make and model of the vehicle you own makes a huge difference in your car insurance bill. The cheapest insurance rates tend to be for the lowest performance passenger models, but there are many factors that impact the final cost.

The chart below uses these assumptions: single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Lexus ES 350 policy rates compared to other makes and models that have a range of performances.

Insurance loss statistics a Lexus ES 350 – Insurers analyze the history of losses to help determine rates. Vehicles that tend to have high amounts or severity of claims will have a higher premium rate.

The table shown below demonstrates the actual insurance loss data for Lexus ES 350 vehicles. For each coverage category, the loss probability for all vehicles, regardless of make or model, is a value of 100. Percentage values below 100 suggest a better than average loss history, while percentage numbers above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.

Lexus ES 350 Insurance Claim Statistics
Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus ES 350 4dr 126 79 160 91 100 78

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