Locating the cheapest insurance for a Lexus RX 350 in Tennessee can turn out to be difficult, but you can learn the following methods and make it easy.
There are both good and bad ways to shop for car insurance so you’re going to learn the quickest way to price shop coverage on a Lexus and obtain the best price possible either online or from Memphis insurance agents.
Affordable rates by receiving these five discounts
Companies don’t necessarily list all possible discounts in an easy-to-find place, so we break down both the well known and also the lesser-known credits that you can use to lower your rates.
- One Accident Forgiven – Not necessarily a discount, but a few companies such as Progressive and Allstate allow you one accident before they charge you more for coverage so long as you haven’t had any claims for a set time period.
- Paperwork-free – A few insurance companies will discount your bill up to fifty bucks simply for signing on your computer.
- Professional Organizations – Joining a professional or civic organization could qualify you for a break on your next renewal.
- Government Employees – Active or former government employment can earn a discount up to 10% with select insurance companies.
- Early Switch Discount – A few larger companies give discounts for switching policies prior to the expiration date on your current RX 350 insurance policy. You can save around 10% with this discount.
A little disclaimer on discounts, most discounts do not apply to your bottom line cost. Most cut specific coverage prices like comprehensive or collision. Just because you may think you could get a free insurance policy, nobody gets a free ride.
The information below illustrates the comparison of Lexus RX 350 annual premium costs with and without discounts. The costs are based on a male driver, a clean driving record, no at-fault accidents, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, marriage, multi-car, homeowner, and safe-driver discounts applied.
The best insurance companies and their offered discounts include:
- State Farm has savings for driver’s education, Steer Clear safe driver discount, multiple policy, defensive driving training, multiple autos, safe vehicle, and good driver.
- GEICO may offer discounts for seat belt use, emergency military deployment, air bags, defensive driver, daytime running lights, and military active duty.
- Liberty Mutual offers discounts for multi-policy, exclusive group savings, newly retired, new move discount, new graduate, multi-car, and teen driver discount.
- The Hartford may include discounts for defensive driver, air bag, bundle, driver training, and anti-theft.
- MetLife policyholders can earn discounts including good student, multi-policy, defensive driver, accident-free, good driver, claim-free
- Progressive includes discounts for online quote discount, good student, homeowner, online signing, and continuous coverage.
If you want low cost Memphis auto insurance quotes, ask every insurance company the best way to save money. All car insurance discounts may not apply to policies in Memphis. For a list of providers that have a full spectrum of discounts in Tennessee, follow this link.
Most companies allow you to get prices for coverage directly from their websites. The process is quite simple because you just enter the coverage amounts you desire as requested by the quote form. Upon sending the form, the system will obtain your driving and credit reports and returns pricing information determined by many factors.
This simplifies rate comparisons, and it is imperative to get many rate quotes if you want to find the best insurance rates.
If you want to find out how much you can save on insurance, compare rates from the companies below. To compare your current rates, we recommend you replicate the insurance coverages as shown on your current policy. This ensures you are getting a price comparison for the exact same coverage.
The companies shown below are ready to provide free rate quotes in Tennessee. If you wish to find the best cheap car insurance in Memphis, TN, we suggest you get price quotes from several of them to get a more complete price comparison.
Insurance data for a Lexus RX 350
The coverage table shown below showcases detailed analysis of insurance policy prices for Lexus RX 350 models. Having insight into how insurance prices are determined can help guide drivers when making informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $178 | $350 | $314 | $18 | $94 | $954 | $80 |
| RX 350 4WD | $178 | $350 | $314 | $18 | $94 | $954 | $80 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Price estimates do not factor in garaging location in Memphis which can increase or decrease rates substantially.
Where to set your deductibles
The hardest decision when buying coverage is what deductibles to buy. The following insurance rates help summarize how much more you’ll pay when you select higher and lower policy deductibles. The first rate table uses a $250 deductible for physical damage and the second rate table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $280 | $510 | $326 | $20 | $98 | $1,259 | $105 |
| RX 350 4WD | $280 | $510 | $326 | $20 | $98 | $1,259 | $105 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $174 | $320 | $326 | $20 | $98 | $938 | $78 |
| RX 350 4WD | $174 | $320 | $326 | $20 | $98 | $938 | $78 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Price estimates do not factor in specific garaging location which can decrease or increase price quotes substantially.
Using the data above, we can ascertain that using a $250 deductible would cost the average driver about $27 more each month or $324 each year averaged for all RX 350 models than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to have at least 28 months between claims, you would probably save some money if you elect the higher deductible.
Male drivers compared to female drivers in Memphis
The information below visualizes the comparison of Lexus RX 350 insurance premiums for male and female drivers. The information is based on no claims or driving citations, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are applied to the premium.
Lexus RX 350 liability-only versus full coverage
The chart below illustrates the comparison of Lexus RX 350 auto insurance rates with full coverage and liability only. The data is based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are taken into consideration.
When to buy liability coverage only
There is no set rule to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s pretend your Lexus RX 350 replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after paying the physical damage deductible. If premiums are more than $300 a year for full coverage, then you might consider buying liability only.
There are some cases where dropping physical damage coverage is not recommended. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Exclusive versus independent car insurance agents
Some consumers just want to get professional advice from a licensed agent and that can be a great decision Insurance agents will help you protect your assets and will help you if you have claims. One of the benefits of price shopping on the web is that drivers can save money and get cheap insurance quotes and still choose a local agent. Supporting local agencies is important especially in Memphis.
To make it easy to find an agent, after completing this simple form, your coverage information is immediately sent to local insurance agents who will return price quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to find an agent on your own since price quotes are sent instantly to you. If you wish to get a comparison quote from a specific insurance provider, you just need to jump over to their website to submit a rate quote request.
Choose an insurance agent wisely
When searching for a good insurance agency, it can be helpful to understand the different types of agencies and how they differ in how they can insure your vehicles. Agents can either be independent or exclusive depending on the company they work for. Either one can provide insurance policies, but it’s good to learn the differences since it may influence your agent selection.
Independent Agents (or Brokers)
Agents in the independent channel do not sell for just one brand so they can quote policies with lots of companies and help determine which has the cheapest rates. To move your coverage to a new company, they simply move the coverage in-house which makes it simple for you.
When comparing rate quotes, you absolutely need to get insurance quotes from a couple of independent agencies to maximize your price options. Many can place coverage with less well-known companies which may have better rates.
Shown below are independent agents in Memphis that can possibly get you competitive price quotes.
- Farris Evans Insurance Agency Inc
1568 Union Ave – Memphis, TN 38104 – (901) 274-5424 – View Map - Nationwide Insurance: The James Agency LLC
4778 Summer Ave Ste 1 – Memphis, TN 38122 – (901) 266-5507 – View Map - Sneed Insurance
6645 Stage Rd #200 – Memphis, TN 38134 – (901) 372-4580 – View Map
Exclusive Insurance Agencies
These agents normally can only provide a single company’s rates and examples are Farmers Insurance, American Family, State Farm and Allstate. They are unable to place coverage with different providers so they have to upsell other benefits. Exclusive agents are usually quite knowledgeable on their products and sales techniques which helps them sell insurance even at higher premiums. Some consumers prefer to buy from the same agent for years mainly due to loyalty to the company and the convenience of having a single billing for all their coverages.
The following is a list of exclusive agents in Memphis that are able to give comparison quotes.
- Allstate Insurance: Josh Roman
579 S Perkins Rd – Memphis, TN 38117 – (901) 683-8600 – View Map - Farmers Insurance: Calvit Ratcliffe
5865 Ridgeway Center Pkwy #300 – Memphis, TN 38120 – (901) 761-6083 – View Map - Allstate Insurance: Ezekeil Hudson
53 Monroe Ave – Memphis, TN 38103 – (901) 235-9315 – View Map
Finding the right insurance agency needs to be determined by more than just a cheap quote. Get answers to these questions too.
- Do you work with a CSR or direct with the agent?
- What is their Better Business Bureau rating?
- Do they see any coverage gaps in your plan?
- What company holds the largest book of business for them?
- By raising physical damage deductibles, how much would you save?
- What will you get paid if your car is a total loss? How is that amount determined?
Car insurance specifics
Knowing the specifics of a car insurance policy can help you determine the best coverages for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.
Collision insurance
Collision insurance pays to fix your vehicle from damage resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like scraping a guard rail, damaging your car on a curb and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible on your RX 350 to save money on collision insurance.
Comprehensive car insurance
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims such as hail damage, a broken windshield and fire damage. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability coverages
This coverage will cover damages or injuries you inflict on other people or property in an accident. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/15 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $15,000 of coverage for damaged property. Another option is a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage pays for things like loss of income, funeral expenses and court costs. How much liability coverage do you need? That is up to you, but consider buying as large an amount as possible. Tennessee state law requires minimum liability limits of 25/50/15 but drivers should carry higher limits.
The chart below shows why low liability limits may not be adequate coverage.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance pay for expenses for things like chiropractic care, nursing services, EMT expenses and surgery. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not universally available and may carry a deductible
Coverage for uninsured or underinsured drivers
This coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus RX 350.
Since a lot of drivers have only the minimum liability required by law (25/50/15 in Tennessee), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently these limits are set the same as your liability limits.
Find cheap car insurance rates by comparing often
Cost effective Lexus RX 350 insurance is possible on the web and from local agencies, so you need to quote Memphis auto insurance with both to get a complete price analysis. Some companies do not offer online rate quotes and many times these regional carriers only sell coverage through independent agencies.
Throughout this article, we presented many tips how you can reduce Lexus RX 350 insurance prices online in Memphis. The key concept to understand is the more price quotes you have, the higher your chance of finding affordable Memphis auto insurance quotes. Drivers may even discover the lowest prices come from a smaller regional carrier.
Insureds who switch companies do it for a number of reasons such as delays in paying claims, unfair underwriting practices, being labeled a high risk driver or even not issuing a premium refund. Regardless of your reason for switching companies, choosing a new insurance company can be pretty painless.
How to find affordable quotes for Lexus RX 350 insurance in Memphis
The most effective way to get discount Lexus RX 350 insurance in Memphis is to start doing an annual price comparison from insurers who sell insurance in Tennessee.
- First, take a little time to learn about what is in your policy and the factors you can control to prevent expensive coverage. Many things that result in higher rates such as your driving record and a low credit score can be amended by improving your driving habits or financial responsibility.
- Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like Progressive or State Farm, while independent agents can give you price quotes for a wide range of insurance providers.
- Third, compare the price quotes to your existing policy to see if cheaper RX 350 coverage is available in Memphis. If you find a better price and change companies, ensure there is no coverage lapse between policies.
- Fourth, provide notification to your current agent or company to cancel your current auto insurance policy and submit the required down payment along with the signed application to your new agent or company. As soon as coverage is bound, put the certificate verifying coverage in a readily accessible location in your vehicle.
An important note is to make sure you enter identical coverages on every quote and and to get quotes from as many companies as feasibly possible. This provides a fair rate comparison and a complete selection of prices.
For more information, feel free to visit the articles below:
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Which Company has the Cheapest Auto Insurance in Memphis, TN? (FAQ)
- Who Has Cheap Memphis Car Insurance for Ride Shares? (FAQ)
- Who Has Affordable Memphis Auto Insurance for Postal Workers? (FAQ)
- How Much are Car Insurance Quotes for a Chevrolet Silverado in Memphis? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- How to shop for a safer car (Insurance Institute for Highway Safety)