Did a good deal turn out to be an under-performing, overpriced insurance policy? It’s a common feeling and many Omaha consumers are in the same pinch.
A recent insurance study revealed that 70% of consumers kept buying from the same company for at least the last four years, and practically 40% of insurance customers have never quoted insurance rates at all. American drivers could save themselves $859 a year, but they just assume it’s a time-consuming process to compare rate quotes online. Big companies like Progressive, GEICO and Farmers Insurance continually bombard you with catchy ads and it can be hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.
Lower Your Omaha Insurance Rates
Smart consumers have a good feel for a few of the rating criteria that help determine the level of your policy premiums. If you have a feel for what determines premiums, this enables informed choices that may reward you with much lower annual insurance costs.
- Infrequent drivers can save – Driving more miles each year the more you will pay for auto insurance. A lot of insurance companies price each vehicle’s coverage based upon how much you drive. Autos that have low annual miles can get a lower rate as compared to vehicles used primarily for driving to work. An incorrectly rated GX 460 is throwing money out the window. It’s always a good idea to double check that your policy properly reflects the correct usage.
- Do you have a stressful job? – Did you know your career choice can influence rates? Careers like military personnel, business owners, and accountants usually pay higher premium rates attributed to job stress and lots of time spent at work. On the other hand, professions such as farmers, historians and retirees receive lower rates.
- Don’t cut corners with liability coverage – A critical coverage on your policy, liability insurance will afford coverage if ever a court rules you are at fault for causing personal injury or damage in an accident. It will provide legal defense coverage starting from day one. Liability insurance is pretty cheap compared to comp and collision, so do not skimp.
- Always have auto insurance – Driving your car without having proper coverage is not a good idea and companies may charge more for letting your insurance lapse. In addition to paying higher premiums, the inability to provide proof of insurance could earn you a fine, jail time, or a revoked license.
- Where you live can influence rates – Choosing to live in less populated areas of the country has definite advantages when it comes to auto insurance. Urban drivers tend to have much more traffic and much longer commute distances. Less people living in that area means less chance of accidents in addition to fewer liability claims.
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Gals pay lower rates – Statistics show that men are more aggressive behind the wheel. However, don’t assume that men are worse drivers. Both genders cause accidents at about the same rate, but the males have costlier accidents. In addition to higher claims, males also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
The chart below illustrates the difference between Lexus GX 460 annual premium costs for male and female drivers. The price estimates are based on a clean driving record, no claims, full coverage, $500 deductibles, single status, and no additional discounts are factored in.
- Safety ratings are a factor – Cars with five star safety ratings can get you lower premiums. Vehicles built for safety have better occupant injury protection and better occupant protection means lower claim amounts and more competitive rates for policyholders. If the Lexus GX 460 has at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
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Lexus GX 460 claim statistics – Auto insurance companies analyze claim trends for every vehicle to determine a rate that will be profitable for them. Models that the statistics show to have higher loss trends will have higher rates. The next table shows the loss history for Lexus GX 460 vehicles.
For each policy coverage, the claim amount for all vehicles as a whole is represented as 100. Values that are below 100 are indicative of better than average losses, while values that are above 100 indicate more frequent claims or a tendency for losses to be larger than average.
Auto Insurance Loss Data for Lexus GX 460 Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus GX 460 4dr 4WD 97 100 125 63 52 63 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
The auto insurance companies shown below offer free quotes in Omaha, NE. If multiple companies are listed, it’s a good idea that you visit as many as you can to get a more complete price comparison.
Insurance rate breakdown
The rate table shown next outlines different insurance prices for Lexus GX 460 models. Knowing how insurance prices are determined is important for making smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $278 | $650 | $338 | $20 | $102 | $1,388 | $116 |
| GX 460 Premium 4WD 4-Dr | $308 | $650 | $338 | $20 | $102 | $1,418 | $118 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Nebraska minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Premium costs do not factor in garaging location in Omaha which can alter coverage rates substantially.
Higher deductibles save money
The hardest decision when buying coverage is how low should you set your deductibles. The comparison tables below highlight the difference in cost when you select higher and lower policy deductibles. The first table uses a $250 physical damage deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $292 | $530 | $300 | $18 | $90 | $1,255 | $105 |
| GX 460 Premium 4WD 4-Dr | $322 | $530 | $300 | $18 | $90 | $1,285 | $107 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $180 | $334 | $300 | $18 | $90 | $922 | $77 |
| GX 460 Premium 4WD 4-Dr | $198 | $334 | $300 | $18 | $90 | $940 | $78 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Nebraska minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Price information does not factor in the specific area where the vehicle is garaged which can influence premiums substantially.
Using the premium rates above, we can conclude that using a $250 deductible would cost the average driver about $28 more each month or $336 annually than requesting the higher $1,000 deductible. Because you would be required to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at least 27 months between claims, you would save more money if you elect the higher deductible.
Bad driving habits will cost you more
The chart below shows how speeding tickets and at-fault collisions can influence Lexus GX 460 car insurance costs for different insured age categories. The premiums assume a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Rate difference between full and liability-only coverage
The information below shows the comparison of Lexus GX 460 insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Nebraska. The rates are based on no violations or accidents, $1,000 deductibles, single status, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no definitive guideline to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let’s assume your Lexus GX 460 replacement 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 the policy deductible has been paid. If it’s costing in excess of $700 annually for full coverage, then it may be the right time to buy liability only.
There are some conditions where dropping physical damage coverage is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
Why you need quality insurance for your GX 460
Despite the high cost, buying insurance serves an important purpose.
- Most states have minimum mandated liability insurance limits which means the state requires specific minimum amounts of liability coverage if you drive a vehicle. In Nebraska these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your GX 460 has a loan, most lenders will force you to have insurance to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Lexus at a significantly higher premium and force you to pay for the much more expensive policy.
- Insurance protects your Lexus and your assets. It will also provide coverage for most medical and hospital costs that are the result of an accident. One policy coverage, liability insurance, will also pay to defend you if you cause an accident and are sued. If damage is caused by hail or an accident, your policy will pay to repair the damage.
The benefits of having insurance outweigh the cost, especially with large liability claims. But the average American driver overpays more than $865 each year so compare quotes from several companies every year to make sure the price is not too high.
Insurance discounts are available to lower rates
Some insurance providers do not list all their discounts very clearly, so the following list contains both the well known and also the lesser-known credits that you can use to lower your rates.
- Good Students Pay Less – Performing well in school can be rewarded with saving of up to 25%. The good student discount can last well after school through age 25.
- Defensive Driving Course – Taking time to complete a safe driver class could save 5% or more if your company offers it.
- Military Rewards – Having an actively deployed family member could trigger a small discount.
- Low Miles Discount – Low mileage vehicles could be rewarded with better prices on cars that stay parked.
- Paperwork-free – Certain insurance companies may give you up to $50 just for signing your application on the internet.
- Save with a New Car – Buying insurance coverage on a new vehicle can cost up to 25% less because new model year vehicles are generally safer.
- Accident-Free Discounts – Insureds who avoid accidents and claims get the best insurance rates in comparison to policyholders that have many claims.
- Drive Safe and Save – Drivers who avoid accidents can save as much as half off their rates compared to accident prone drivers.
- Theft Deterrent Discount – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
- Early Renewal Discounts – A few insurance companies allow discounts for renewing your policy before your current expiration date. It could save around 10% when you buy Omaha auto insurance online.
Drivers should understand that some credits don’t apply to all coverage premiums. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So even though they make it sound like it’s possible to get free car insurance, you won’t be that lucky.
The illustration below compares Lexus GX 460 insurance premiums with and without discounts applied to the premium. The data is based on a female driver, a clean driving record, no claims, Nebraska 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 marriage, homeowner, safe-driver, multi-policy, multi-car, and claim-free discounts applied.
Large insurance companies and their possible discounts include:
- GEICO has discounts for seat belt use, driver training, air bags, anti-theft, daytime running lights, federal employee, and emergency military deployment.
- Mercury Insurance may have discounts that include type of vehicle, location of vehicle, age of vehicle, accident-free, ease of repair, good driver, and multi-car.
- Farmers Insurance discounts include electronic funds transfer, homeowner, multi-car, alternative fuel, youthful driver, and mature driver.
- Auto-Owners Insurance includes discounts for group or association, safe vehicle, safe driver, anti-theft, paid in full, good student, and student away at school.
- Liberty Mutual offers premium reductions for safety features, newly retired, new vehicle discount, multi-policy, new move discount, and preferred payment discount.
- SAFECO may offer discounts for multi-car, safe driver, teen safe driver, anti-lock brakes, and teen safety rewards.
- Progressive offers discounts including online quote discount, good student, continuous coverage, multi-vehicle, homeowner, and multi-policy.
- USAA may include discounts for multi-vehicle, annual mileage, safe driver, military installation, vehicle storage, and loyalty savings.
Before buying, ask all companies you are considering how you can save money. Some of the discounts discussed earlier might not be available to policyholders everywhere. For a list of providers with discount insurance rates in Omaha, click here to view.
Car insurance quotes from neighborhood Omaha auto insurance agents
Some people still like to sit down and talk to an agent and that is just fine! Licensed agents can help you choose the best coverages and help file insurance claims. The best thing about comparing rate quotes online is that you can find cheap rate quotes and still choose a local agent. And supporting neighborhood agents is important particularly in Omaha.
After completing this simple form, your coverage information is emailed to local insurance agents that can provide free Omaha auto insurance quotes for your business. It simplifies rate comparisons since you won’t have to even leave your home due to the fact that quote results will go to you instantly. If for some reason you want to compare rates from one company in particular, feel free to find their quoting web page and fill out their quote form.
If you are wanting to purchase car insurance from a local insurance agency, you must know there are a couple different types of agencies and how they are slightly different. Agents in Omaha are either exclusive agents or independent agents. Either one can insure your vehicles, but it’s important to know the differences because it can influence the kind of agent you use.
Independent Car Insurance Agents (or Brokers)
Independent agencies often have many company appointments so they have the ability to put coverage with many different companies and find you cheaper rates. If they quote lower rates, they simply switch companies in-house and you can keep the same agent.
When comparison shopping, it’s a good idea to compare prices from at a minimum one independent agency so that you can do a thorough price comparison.
Shown below are independent agencies in Omaha who can help you get competitive price quotes.
Action Insurance
12100 W Center Rd #208 – Omaha, NE 68144 – (402) 697-8181 – View Map
BW Insurance Agency, Inc.
13906 Gold Cir # 103 – Omaha, NE 68144 – (402) 918-0102 – View Map
Omaha Division Insurance
14792 Ray Sapp Dr – Omaha, NE 68138 – (402) 334-7087 – View Map
Exclusive Agencies
These agents can usually just insure with one company and some examples include State Farm, Allstate, and Farm Bureau. They are unable to provide other company’s prices so always compare other rates. Exclusive agents are highly trained on sales techniques which helps them sell insurance even at higher premiums.
Below are Omaha exclusive agencies that can give you price quote information.
Ryan Hedden – State Farm Insurance Agent
8611 Blondo St – Omaha, NE 68134 – (402) 392-1939 – View Map
Steve Skidmore – State Farm Insurance Agent
17525 Gold Plaza #105 – Omaha, NE 68130 – (402) 330-9200 – View Map
American Family Insurance – Shane Boring Agency Inc.
16855 Q St – Omaha, NE 68135 – (402) 932-5755 – View Map
Choosing the best insurance agency is decision based upon more than just the premium amount. Some important questions to ask are:
- Does the agency provide any after hours assistance?
- How many years of experience in personal auto insurance do they have?
- How often do they review coverages?
- Do they offer rental car reimbursement?
- Is the agent and/or agency licensed to do business in Nebraska?
Don’t assume everyone needs the same car insurance coverage
When selecting a policy, there really is not a single plan that fits everyone. Everyone’s situation is a little different and your car insurance should be unique as well.
Here are some questions about coverages that may help highlight if your insurance needs may require specific advice.
- Do I need motorclub coverage?
- Is a new car covered when I drive it off the dealer lot?
- Does my policy pay for OEM or aftermarket parts?
- Am I covered when driving someone else’s vehicle?
- Can I get a multi-policy discount?
- What is the premium to book value ratio for dropping full coverage?
- Where can I get insurance after a DUI in Nebraska?
- Is my babysitter covered when using my vehicle?
- Should I get collision insurance on every vehicle?
- Is water damage covered by my policy?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.
In Summary
When trying to cut insurance costs, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed liability limits or collision coverage only to find out that they should have had better coverage. The proper strategy is to buy a smart amount of coverage at the best price, but don’t skip important coverages to save money.
Some companies do not provide online quoting and usually these small insurance companies work with independent agencies. The cheapest Lexus GX 460 insurance in Omaha is attainable both online and from local insurance agents, and you need to comparison shop both in order to have the best price selection to choose from.
We just covered a lot of techniques to shop for Lexus GX 460 insurance online. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Consumers may even find the most savings is with the least-expected company. These companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm and Allstate.
How to find better rates for Lexus GX 460 insurance in Omaha
If you want to find the absolute lowest rates, then the best way to find lower priced Lexus GX 460 insurance is to compare prices regularly from insurers in Omaha. You can compare prices by following these steps.
- Read about how companies set rates and the measures you can control to keep rates low. Many risk factors that result in higher prices like accidents, traffic violations, and a less-than-favorable credit score can be rectified by making lifestyle changes or driving safer.
- Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Allstate, while independent agents can provide rate quotes from multiple sources.
- Compare the new quotes to the price on your current policy and determine if cheaper GX 460 coverage is available. If you find a better price, make sure there is no lapse in coverage.
- Provide notification to your current company of your intention to cancel your current coverage. Submit a completed application and payment for your new coverage. Immediately put the proof of insurance paperwork in your glove compartment.
One key aspect of rate comparisons is to try to use similar deductibles and liability limits on every quote request and and to get quotes from as many companies as possible. Doing this provides the most accurate price comparison and the best price selection.
More articles
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- How Much are Auto Insurance Rates for Lyft Drivers in Omaha? (FAQ)
- How Much are Auto Insurance Rates for Single Moms in Omaha? (FAQ)
- Who Has Affordable Car Insurance for a Toyota Camry in Omaha? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Auto Insurance for Teen Drivers (Insurance Information Institute)