It’s hard to believe, but about 70% of customers have purchased from the same company for more than four years, and almost 40% of drivers have never quoted auto insurance rates at all. American drivers could save themselves 46.5% a year by just shopping around, but they mistakenly think it’s difficult to compare rate quotes online.
Really, the only way to get discount Lexus LS 460 insurance is to regularly compare price quotes from providers who can sell car insurance in Memphis.
- Try to learn a little about how companies price auto insurance and the changes you can make to prevent high rates. Many risk factors that drive up the price like speeding and an unacceptable credit history can be rectified by making minor driving habit or lifestyle changes. Later in this article we will cover more information to keep prices down and get bigger discounts that may have been overlooked.
- Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or Farmers Insurance, while independent agencies can quote rates from multiple companies. Start a quote
- Compare the price quotes to your existing rates to see if a cheaper rate is available in Memphis. If you can save some money, ensure coverage does not lapse between policies.
- Give notification to your current company to cancel your current auto insurance policy and submit a completed policy application and payment to your new insurance company. As soon as you have the new policy, store the proof of insurance paperwork in your vehicle’s glove compartment or console.
The key thing to remember is that you use similar coverage information on each price quote and and to get price estimates from as many different insurance providers as possible. Doing this guarantees an accurate price comparison and a complete rate analysis.
If you have a policy now or just want a better rate, use these techniques to buy cheaper auto insurance without reducing protection. Locating the best insurance company for you in Memphis is quite easy if you know the best way to do it. Comparison shoppers just have to understand the fastest way to shop using one simple form.
Companies offering Lexus LS 460 insurance in Tennessee
The companies shown below offer free quotes in Memphis, TN. If your goal is to find cheap car insurance in TN, we suggest you visit two to three different companies to get the best price comparison.
Lexus LS 460 coverage analysis
The coverage information displayed next outlines estimates of prices for Lexus LS 460 models. Being able to understand how insurance quotes are calculated can help guide drivers when making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $290 | $632 | $258 | $16 | $78 | $1,274 | $106 |
| LS 460 4-Dr Sedan | $290 | $632 | $258 | $16 | $78 | $1,274 | $106 |
| LS 460 AWD 4-Dr | $290 | $632 | $258 | $16 | $78 | $1,274 | $106 |
| LS 460 L 4-Dr Sedan | $290 | $632 | $258 | $16 | $78 | $1,274 | $106 |
| LS 460 L AWD 4-Dr | $290 | $632 | $258 | $16 | $78 | $1,274 | $106 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Table data does not factor in specific Memphis garaging location which can decrease or increase price quotes considerably.
Car insurance rates are higher with tickets and accidents
The example below shows how violations and accidents raise Lexus LS 460 auto insurance rates for different age groups of insureds. The premiums assume a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
Lexus LS 460 insurance rates: Men versus women
The example below illustrates the comparison of Lexus LS 460 car insurance costs for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, full coverage, $500 deductibles, single marital status, and no discounts are factored in.
Why Your Insurance Premiums might be higher
One of the most helpful ways to save on insurance is to to have a grasp of some of the elements that are used to determine the price you pay for insurance. When you know what positively or negatively impacts premium levels, this allows you to make educated decisions that can earn you lower insurance prices.
Performance influences insurance costs – The make and model of the vehicle you need to insure makes a significant difference in determining your rates. The lowest base rates will normally be found when insuring smaller low performance passenger cars, but other factors influence the final cost greatly.
The data below is based on a single male driver age 20, full coverage with $250 deductibles, and no discounts or violations. The chart compares Lexus LS 460 car insurance rates compared to other models of vehicles that have different performance risks.
Always keep your policy in place – Driving without insurance is illegal and you will pay a penalty because you let your coverage cancel without a new policy in place. Not only will you pay more, not being able to provide proof of insurance will get you a hefty fine and possibly a revoked license.
Excellent credit equals lower rates – A driver’s credit history factor in determining your rates. If your credit rating can use some improvement, you could pay less to insure your Lexus LS 460 by repairing your credit. Drivers who have excellent credit tend to be better drivers and file fewer claims than drivers with lower ratings.
Single drivers take more risk – Having a spouse may save some money when buying insurance. Having a spouse means you’re more stable financially and insurance companies reward insureds because being married results in fewer claims.
Safer cars save money – Vehicles that have high safety ratings are cheaper to insure. Highly rated vehicles result in less severe injuries and lower rates of occupant injuries means lower claim amounts which can result in lower premiums. If your Lexus LS 460 earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
Vehicle features that cut premiums – Choosing a vehicle with anti-theft technology or alarm system can save you a little every year. Advanced theft deterrents such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent your vehicle from being stolen.
Loss probability for a Lexus LS 460 – Insurers study historical loss data to help set a rate to offset losses. Vehicles that statistically have increased losses will have a higher premium rate. The table below illustrates the historical loss data for Lexus LS 460 vehicles.
For each insurance policy coverage type, the claim probability for all vehicles, as an average, is equal to 100. Numbers under 100 suggest a better than average loss history, while numbers that are greater than 100 indicate higher probability of having a loss or an increased likelihood of larger losses.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lexus LS 460 4dr 2WD | 155 | 76 | 203 | 52 | ||
| Lexus LS 460 4dr 4WD | 207 | 102 | 239 | 62 | ||
| Lexus LS 460 L 4dr 2WD | 199 | |||||
| Lexus LS 460 L 4dr 4WD | 251 | 324 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Cheaper Memphis insurance rates with discounts
Some providers don’t always list their entire list of discounts in an easy-to-find place, so we break down some of the best known and also the more inconspicuous insurance savings.
- Discounts for Multiple Vehicles – Buying coverage for multiple cars or trucks on the same insurance policy may reduce the rate for each vehicle.
- Life Insurance – If the company offers life insurance, you could get better prices if you take out auto and life insurance together.
- No Claims – Claim-free drivers get the best insurance rates when compared with policyholders that have many claims.
- Policy Bundle Discount – If you insure your home and vehicles with the same company they may give you a discount of up to 20% and get you low cost Lexus LS 460 insurance.
- ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control are safer to drive so you can save 10 percent or more.
- Good Driver Discount – Insureds who avoid accidents can save as much as half off their rates compared to accident prone drivers.
- Telematics Data Discounts – Drivers who elect to allow data collection to study vehicle usage through the use of a telematics system such as Progressive’s Snapshot could see a rate decrease as long as the data is positive.
Drivers should understand that most discount credits are not given to the whole policy. A few only apply to the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
The illustration below illustrates the comparison of Lexus LS 460 insurance costs with and without policy discounts. The premiums are based on a female driver, no claims or driving violations, Tennessee state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, homeowner, and safe-driver discounts applied.
If you would like to view companies that provide some of the discounts listed above in Tennessee, click here.
Auto insurance quotes from local Memphis insurance agencies
Some people just prefer to go talk to an agent and that can be a great decision Professional agents can help you choose the best coverages and help file insurance claims. One of the best bonuses of price shopping on the web is you may find cheap rate quotes but also keep your business local. Putting coverage with neighborhood insurance agencies is important especially in Memphis.
Upon completion of this simple form, your insurance data is instantly submitted to participating agents in Memphis that provide free Memphis car insurance quotes for your business. You won’t even need to even leave your home since rate quotes are delivered to you. If you wish to get a rate quote from one company in particular, feel free to go to their quote page to submit a rate quote request.
Is an exclusive or independent auto insurance agent right for you?
If you are wanting to find a good Memphis insurance agent, it’s helpful to know the types of insurance agents and how they can write your policy. Auto insurance policy providers are considered either independent agents or exclusive agents. Either type can sell auto insurance policies, but it’s worth learning the differences since it may influence which agent you choose.
Independent Auto Insurance Agencies
Agents in the independent channel often have affiliation with several companies and that allows them to write policies with any number of different companies and potentially find a lower price. If they find a lower price, your agent can just switch to a different company and that require little work on your part. When comparison shopping, we highly recommend that you get several quotes from at a minimum one independent agency to have the best price comparison.
The following is a short list of independent agencies in Memphis that can possibly get you free auto insurance rate quotes.
Oseman Insurance Agency
6750 Poplar Ave #410 – Memphis, TN 38138 – (901) 562-0151 – View Map
Nationwide Insurance: Clarence Mosley Jr
4132 Elvis Presley Blvd – Memphis, TN 38116 – (901) 346-2550 – View Map
Lipscomb and Pitts Insurance LLC
2670 Union Ave – Memphis, TN 38112 – (901) 321-1000 – View Map
Exclusive Auto Insurance Agents
Agents that choose to be exclusive can only quote rates from one company like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot give you multiple price quotes so they are skilled at selling on more than just price. Exclusive agents are usually well trained on what they offer and that allows them to sell at a higher price point.
Shown below is a short list of exclusive agencies in Memphis who can help you get rate quotes.
Dan Crawford – State Farm Insurance Agent
5705 Stage Rd #160 – Memphis, TN 38134 – (901) 372-4400 – View Map
Deloris Burrow – State Farm Insurance Agent
3558 Hickory Hill Rd – Memphis, TN 38115 – (901) 373-8052 – View Map
Bobby Gorman – State Farm Insurance Agent
4947 William Arnold Rd – Memphis, TN 38117 – (901) 767-1361 – View Map
Finding a good auto insurance agent requires more thought than just a cheap quote. Get answers to these questions too.
- Is the coverage adequate for your vehicle?
- Are they able to influence company decisions when a claim is filed?
- Which insurance companies are they affiliated with?
- How often do they review coverages?
- Who are their largest clients?
Don’t give up on cheap rates
Affordable Lexus LS 460 insurance in Memphis can be purchased from both online companies as well as from insurance agents, and you need to comparison shop both so you have a total pricing picture. Some companies may not have rate quotes online and most of the time these smaller companies prefer to sell through local independent agencies.
Throughout this article, we presented many ways to compare Lexus LS 460 insurance rates in Memphis. The key thing to remember is the more you quote Memphis car insurance, the higher your chance of finding cheaper Memphis car insurance quotes. Drivers may even discover the lowest rates come from an unexpected company. Some small companies may only write in your state and offer lower car insurance rates than their larger competitors like Progressive or GEICO.
As you prepare to switch companies, it’s not a good idea to reduce coverage to reduce premium. In many cases, an insured cut collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to purchase plenty of coverage for the lowest cost.
For more information, take a look at these articles:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- How Much is Car Insurance for Veterans in Memphis? (FAQ)
- Who Has Affordable Car Insurance Quotes for Felons in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Seniors? (FAQ)
- How Much are Auto Insurance Quotes for a Honda Accord in Memphis? (FAQ)
- How Much are Memphis Car Insurance Quotes for 16 Year Olds? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- Should I Buy a New or Used Car? (Allstate)