Cheap Insurance for a Lexus LS 460 in Virginia Beach

It’s an obvious statement that car insurance companies don’t want you quoting rates from other companies. Insureds who shop around for better prices are likely to switch to a new company because there is a good chance of finding coverage at a more affordable price. A recent car insurance study revealed that drivers who shopped around every year saved an average of $865 a year compared to drivers who never compared other company’s rates.

If finding the cheapest rates on insurance in Virginia Beach is your ultimate target, understanding how to quote and compare insurance rates can help simplify the task of finding more affordable coverage.

Insurance for Lexus LS 460The best way to get more affordable car insurance rates in Virginia Beach is to make a habit of comparing prices annually from providers that sell auto insurance in Virginia. You can compare rates by completing these steps.

One thing to point out is to try to compare identical coverages on every price quote and and to get rates from every insurance company. Doing this provides an accurate price comparison and the best price selection.

If you have coverage now or are shopping for new coverage, use these techniques to find better prices and still get good coverage. Locating the most cost-effective insurance policy in Virginia Beach is actually quite easy if you know where to start. Smart buyers only have to learn the most time-saving way to compare insurance rates on the web.

The companies shown below can provide comparison quotes in Virginia Beach, VA. If your goal is to find cheap auto insurance in Virginia Beach, we suggest you click on several of them to get the best price comparison.

Discount Virginia Beach insurance quotes

Some companies don’t always advertise every available discount very well, so below is a list some of the more common and also the lesser-known credits available to lower your premiums when you buy Virginia Beach car insurance online. If you don’t get every credit available, you are not getting the best rate possible.Insurance discounts

As a disclaimer on discounts, most discounts do not apply to the entire cost. Most cut the cost of specific coverages such as collision or personal injury protection. If you do the math and it seems like adding up those discounts means a free policy, insurance companies wouldn’t stay in business.

The information below illustrates the difference between Lexus LS 460 auto insurance costs with and without discounts applied to the rates. The data assumes a male driver, no claims or violations, Virginia 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, multi-car, homeowner, safe-driver, claim-free, and multi-policy discounts applied.

A partial list of companies that may have some of the above discounts include:

Before you buy a policy, ask every company which discounts you may be entitled to. A few discounts may not apply to policyholders in Virginia Beach. For a list of insurance companies with discount insurance rates in Virginia, click here to view.

Rates and information analytics

The price information displayed next showcases detailed analysis of prices for Lexus LS 460 models. Knowing how car insurance premiums are formulated can help drivers make smart choices when comparing insurance quotes.

Lexus LS 460 Insurance Rates in Virginia Beach, VA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $372 $842 $296 $18 $88 $1,616 $135
LS 460 4-Dr Sedan $372 $842 $296 $18 $88 $1,616 $135
LS 460 AWD 4-Dr $372 $842 $296 $18 $88 $1,616 $135
LS 460 L 4-Dr Sedan $372 $842 $296 $18 $88 $1,616 $135
LS 460 L AWD 4-Dr $372 $842 $296 $18 $88 $1,616 $135
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rates do not factor in specific zip code location which can influence coverage rates greatly.

How high should deductibles be?

The hardest decision when buying coverage is how high should the deductibles for physical damage be. The figures shown below can help illustrate the costs and benefits when you select higher and lower insurance deductibles. The first price estimate table uses a $250 deductible for physical damage and the second rate chart uses a $500 deductible.

Lexus LS 460 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $302 $574 $218 $12 $66 $1,197 $100
LS 460 4-Dr Sedan $302 $574 $218 $12 $66 $1,197 $100
LS 460 AWD 4-Dr $302 $574 $218 $12 $66 $1,197 $100
LS 460 L 4-Dr Sedan $302 $574 $218 $12 $66 $1,197 $100
LS 460 L AWD 4-Dr $302 $574 $218 $12 $66 $1,197 $100
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Lexus LS 460 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $244 $462 $218 $12 $66 $1,002 $84
LS 460 4-Dr Sedan $244 $462 $218 $12 $66 $1,002 $84
LS 460 AWD 4-Dr $244 $462 $218 $12 $66 $1,002 $84
LS 460 L 4-Dr Sedan $244 $462 $218 $12 $66 $1,002 $84
LS 460 L AWD 4-Dr $244 $462 $218 $12 $66 $1,002 $84
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Table data does not factor in specific location information which can impact coverage prices greatly.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $16 more each month or $192 each year than selecting the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you normally average more than 16 months between claims, you would more than likely save some money if you choose a higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $100
Average monthly premium for $500 deductibles (subtract): – $84
Monthly savings from raising deductible: $16
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $16
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 16 months

One thing to be aware of is that raising deductibles to save money results in a higher out-of-pocket expense when you have a claim. You should have enough money in the bank in the event you have to pay more to get your vehicle repaired.

The chart below illustrates how choosing a deductible and can influence Lexus LS 460 insurance premiums for different ages of insureds. The prices are based on a single male driver, full physical damage coverage, and no policy discounts are applied.

Lexus LS 460 liability-only versus full coverage

The information below shows the comparison of Lexus LS 460 annual premium costs with full physical damage coverage compared to only buying liability only. The data is based on a clean driving record, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are factored in.

Should you buy full coverage or liability only?

There is no clear-cut formula of when to phase out physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let’s say your Lexus LS 460 settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,000 after you pay the deductible. If it’s costing in excess of $800 a year for comprehensive and collision coverage, then you might consider buying liability only.

There are some cases where dropping physical damage coverage is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

How do Car Insurance Companies Determine Lexus LS 460 Insurance Prices?

Lots of things are part of the calculation when you quote your car insurance policy. Some are obvious like your driving record, but others are more transparent such as your marital status and annual miles driven.