Really, the only way to get low-cost car insurance rates is to compare quotes annually from different companies in Miami.
- First, get an understanding of how insurance works and the steps you can take to lower rates. Many things that increase rates like multiple speeding tickets and poor credit rating can be eliminated by making minor changes in your lifestyle. This article gives instructions to help prevent expensive coverage and get additional discounts that may be available.
- Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can quote prices for many different companies.
- Third, compare the quotes to your existing rates and determine if there is any savings. If you find a lower rate quote, verify that coverage does not lapse between policies.
A key point to remember is to make sure you enter similar limits and deductibles on every quote and and to get quotes from as many carriers as you can. This provides a fair rate comparison and a better comparison of the market.
Smart shoppers know that car insurance companies don’t want their customers to go rate shopping. Drivers who shop for lower prices will most likely switch to a new company because of the good chance of finding coverage at a more affordable price. A recent survey discovered that drivers who compared prices once a year saved an average of $72 a month compared to those who never compared prices.
If finding the lowest price for car insurance in Miami is your goal, understanding the best ways to find and compare insurance can help make the process easier and more efficient.
If you have coverage now or just want to save money, use these techniques to get lower rates without having to cut coverage. Finding the best-priced coverage in Miami is quite easy. Shoppers only have to learn how to get comparison rates online.
Discount Miami auto insurance rates
Insurance can cost an arm and a leg, but you may find discounts to help bring down the price. A few discounts will be applied at the time of quoting, but some discounts are required to be specifically requested prior to receiving the credit. If you do not double check each discount you deserve, you are paying more than you should be.
- Include Life Insurance and Save – Larger auto insurance companies have a discounted price on car insurance if you buy life insurance.
- Air Bag Discount – Options like air bags or automatic seat belts can qualify for discounts up to 30%.
- Discounts for Government Workers – Active or retired federal employment can earn a discount up to 10% but check with your company.
- Driver Education Discount – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education as it will make them better drivers and lower rates.
- Pay Now and Pay Less – By paying your entire bill at once rather than spreading payments over time you may reduce your total bill.
- No Claim Discounts – Claim-free drivers pay less when compared to insureds who have frequent claims or accidents.
- Low Mileage Discounts – Keeping the miles down on your Lexus can qualify you for substantially lower rates.
As a sidenote, most discounts do not apply to the whole policy. A few only apply to the cost of specific coverages such as liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, insurance companies wouldn’t stay in business.
The information below shows the comparison of Lexus GX 460 insurance prices with and without discounts applied to the rates. The premium estimates are based on a male driver, no claims, a clean driving record, Florida state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, homeowner, multi-policy, and claim-free discounts applied.
Some companies that possibly offer these money-saving discounts may include but are not limited to:
Check with all companies you are considering which discounts you qualify for. Some discounts listed above might not apply in Miami.
The companies shown below provide free quotes in Miami, FL. To locate the best cheap car insurance in Miami, we suggest you visit as many as you can in order to find the most affordable rates.
Insurance rate breakdown
The premium table displayed next outlines detailed analysis of rate quotes for Lexus GX 460 models. Learning more about how auto insurance premiums are determined can help drivers make smart policy decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $196 | $394 | $400 | $24 | $120 | $1,134 | $95 |
| GX 460 Premium 4WD 4-Dr | $216 | $394 | $400 | $24 | $120 | $1,154 | $96 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Prices do not factor in vehicle location which can impact price quotes considerably.
Deductible comparison
One common question asked by Miami drivers is at what level do you set your deductibles. The following insurance rates may help you to understand the differences in premium rates when you buy lower versus higher physical damage deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $406 | $736 | $418 | $24 | $124 | $1,733 | $144 |
| GX 460 Premium 4WD 4-Dr | $446 | $736 | $418 | $24 | $124 | $1,773 | $148 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| GX 460 4WD 4-Dr | $250 | $464 | $418 | $24 | $124 | $1,280 | $107 |
| GX 460 Premium 4WD 4-Dr | $276 | $464 | $418 | $24 | $124 | $1,306 | $109 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Premium amounts do not factor in specific location information which can raise or lower premium rates greatly.
Based on the above data, using a $250 deductible could cost the average driver approximately $38 more each month or $456 every year than requesting the higher $1,000 deductible. Since you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 20 months between claim filings, you would probably save some money if you choose the higher deductible.
How to determine when to raise your deductibles
| Average monthly premium for $250 deductibles: | $146 |
| Average monthly premium for $1,000 deductibles (subtract): | – $108 |
| Monthly savings from raising deductible: | $38 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $38 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 20 months |
Premiums by gender and age
The chart below illustrates the comparison of Lexus GX 460 auto insurance costs for male and female drivers. The data is based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, single status, and no discounts are taken into consideration.
Comparison of full coverage and liability-only policies
The example below illustrates the difference between Lexus GX 460 car insurance rates with and without full coverage. The data assumes no violations or claims, $500 deductibles, single status, and no discounts are applied to the premium.
Should you buy full coverage or liability only?
There is no definitive guideline to eliminate comp and collision coverage, but there is a general convention. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your Lexus GX 460 book value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after paying the physical damage deductible. If premium cost is more than $600 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are a few situations where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
Components of Your Lexus GX 460 Insurance Premiums
Part of the insurance buying process is learning some of the factors that come into play when calculating your premiums. When you understand what impacts premium levels, this enables you to make decisions that will entitle you to cheaper rates.
Cars with good safety ratings save money – Vehicles with good safety scores are cheaper to insure. Safer cars protect occupants better and any reduction in injury severity means lower claim amounts and thus lower rates. If your Lexus has at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
Too many claims and you’ll pay more – Car insurance companies in Florida give discounts to policyholders that do not abuse their auto insurance. If you file a lot of claims you can definitely plan on either a policy non-renewal or much higher rates. Insurance coverage is intended to be relied upon for claims that pose a financial burden.
Car insurance liability limits – The liability coverage on your policy kicks in when you are determined to be liable for an accident. This coverage provides legal defense up to the limits shown on your policy. This coverage is very inexpensive when compared to the cost of physical damage coverage, so do not cut corners here.
Continuous coverage saves money – Not having insurance is a misdemeanor and as a result your rates will increase for letting your insurance coverage expire. And not only will your rates increase, the inability to provide proof of insurance could earn you a fine, jail time, or a revoked license. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the Florida department of motor vehicles.
Lexus GX 460 claim probability – Auto insurance companies use past insurance losses to help calculate a profitable premium price. Models that historically have higher loss trends will have higher rates. The table below shows the loss history for Lexus GX 460 vehicles.
For each coverage category, the loss probability for all vehicles averaged together is represented as 100. Numbers below 100 suggest a positive loss record, while percentage numbers above 100 show a trend for more claims or statistically larger claims.
| Specific Lexus Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lexus GX 460 4dr 4WD | 97 | 100 | 125 | 63 | 52 | 63 |
Statistics from IIHS.org for 2013-2015 Model Years
What insurance coverages do I need?
Always remember that when buying coverage online or from an agent for your personal vehicles, there is no cookie cutter policy. Everyone’s situation is unique.
Here are some questions about coverages that could help you determine if your insurance needs might need professional guidance.
- Is my business laptop covered if it gets stolen from my vehicle?
- What states are considered no-fault?
- Is there coverage for injuries to my pets?
- If my Lexus GX 460 is totaled, can I afford another vehicle?
- How can I get my company to pay me more for my totaled car?
- Is borrowed equipment or tools covered if stolen or damaged?
- Do I have coverage when pulling a U-Haul trailer?
If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, fill out this quick form. It’s fast, free and may give you better protection.
Local Miami car insurance agents and car insurance
Many people just prefer to buy from a local agent and that is recommended in a lot of cases Experienced insurance agents can help you choose the best coverages and help file insurance claims. An additional benefit of comparing rates online is you may find lower rates and still have a local agent. Buying insurance from local insurance agencies is definitely important in Miami.
To help locate an agent, after submitting this simple form, the quote information gets sent to insurance agents in Miami who will gladly provide quotes and help you find cheaper coverage. You don’t have to search for an agent since price quotes are sent to you instantly. If you need to quote rates from a specific company, you can always go to their quote page and complete a quote there.
Types of car insurance agents in Miami
If you are wanting to purchase car insurance from a good Miami insurance agent, there are a couple of different types of agents that differ in how they can insure your vehicles. Car insurance agents in Miami are categorized either exclusive or independent. Either one can write car insurance policies, but it’s important to know why they differ because it can influence your agent selection.
Independent Car Insurance Agents
Agents of this type are not restricted to one company and that is an advantage because they can write policies with a variety of different insurance companies and potentially find a lower price. If they find a lower price, they can switch companies in-house and that require little work on your part.
When comparing car insurance prices, you definitely need to get quotes from at a minimum one independent agency to ensure the widest selection of prices. Most also write with smaller regional carriers who may have lower rates.
The following are independent insurance agents in Miami that can possibly get you comparison quotes.
- Tadeo Insurance Agency, Inc.
9120 SW 40th St – Miami, FL 33165 – (305) 553-1760 – View Map - Estrella Insurance #101
3750 W Flagler St – Miami, FL 33134 – (305) 446-6822 – View Map - Universe Insurance Agency, Inc.
1563 NW 27th Ave – Miami, FL 33125 – (305) 633-6111 – View Map
Exclusive Car Insurance Agents
Agents of this type normally can only provide a single company’s rates and some examples include AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents are unable to shop your coverage around so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are usually well trained on their company’s products and that can be a competitive advantage. Some consumers prefer to buy insurance from these agents mostly because of loyalty to the company and strong financial ratings.
Below are exclusive agents in Miami that are able to give comparison quotes.
- Gus Figueredo – State Farm Insurance Agent
7950 W Flagler St #103 – Miami, FL 33144 – (305) 262-0440 – View Map - State Farm: Carlos Luis
6001 Bird Rd – Miami, FL 33155 – (305) 663-2300 – View Map - Allstate Insurance: Pamela Brumer
141 Alton Rd – Miami Beach, FL 33139 – (305) 531-1223 – View Map
Deciding on a auto insurance agent needs to be determined by more than just the bottom line cost. Any good agent in Miami should know the answers to these questions.
- How is replacement cost determined on your vehicle?
- How long have they worked with personal auto insurance coverage?
- Can you use your own choice of collision repair facility?
- Is every driver in your family covered?
- How often do they review coverages?
- Which companies can they place coverage with?
After talking to the agent and getting good responses to any questions you may have as well as cheaper GX 460 insurance quotes, you may have just found a car insurance agent that meets your needs to insure your vehicles. Just be aware that you have the power to cancel a policy at any time so don’t feel that you are obligated to any specific agency for any length of time.
Auto insurance is not optional in Florida
Despite the potentially high cost of Lexus GX 460 insurance, auto insurance is required in Florida but also provides important benefits.
First, almost all states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you took out a loan on your GX 460, most lenders will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender may insure your Lexus at a much higher rate and require you to fork over for the much more expensive policy.
Third, auto insurance preserves not only your Lexus but also your assets. It will also reimburse you for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, also covers legal expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your auto insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance outweigh the cost, especially with large liability claims. On average, a vehicle owner in Miami overpays more than $855 a year so we recommend shopping around at every renewal to be sure current rates are still competitive.
What is YOUR best insurance company?
When searching for the cheapest Lexus GX 460 rate quotes, do not sacrifice coverage to reduce premiums. There have been many cases where an insured dropped physical damage coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your goal is to buy the best coverage you can find at the best cost, but do not sacrifice coverage to save money.
Cost effective Lexus GX 460 insurance can be bought from both online companies and from local agencies, and you should be comparing both in order to have the best chance of saving money. Some insurance providers do not provide price quotes online and usually these smaller providers only sell coverage through independent agents.
People change insurance companies for any number of reasons including high prices, not issuing a premium refund, denial of a claim or unfair underwriting practices. No matter why you want to switch, finding the right auto insurance provider is actually quite simple.
More tips and info about auto insurance can be found in the articles below:
- Comprehensive Coverage (Liberty Mutual)
- Who Has Affordable Auto Insurance Rates for Real Estate Agents in Miami? (FAQ)
- What Insurance is Cheapest for Used Cars in Miami? (FAQ)
- How Much is Auto Insurance for Nurses in Miami? (FAQ)
- What Insurance is Cheapest for State Employees in Miami? (FAQ)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Credit and Insurance Scores (Insurance Information Institute)
- What are my Rights when Filing a Claim? (Insurance Information Institute)