Compare Lexus HS 250h Insurance Rates in Newark

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Insurance quote for Lexus HS 250h in NewarkAnyone knows that auto insurance companies don't want you to compare rates. Consumers who shop around will most likely switch companies because there is a great chance of finding better rates. A recent study showed that drivers who compared prices once a year saved approximately $3,450 over four years as compared to drivers who don't make a habit of comparing rates.

If saving the most money on insurance in Newark is your objective, then learning a little about the best ways to shop for cheaper coverage can make it easier to shop your coverage around.

The recommended way to save on Lexus HS 250h insurance is to compare prices annually from different companies who sell auto insurance in Newark. Rates can be compared by following these steps.

  • Step 1: Read about how car insurance works and the things you can control to drop your rates. Many rating factors that cause rate increases like speeding and an imperfect credit score can be controlled by making minor changes in your lifestyle.
  • Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from many different companies.
  • Step 3: Compare the new quotes to your existing policy to determine if you can save on HS 250h insurance in Newark. If you find a better price, make sure there is no lapse between the expiration of your current policy and the new one.
  • Step 4: Provide proper notification to your current company of your intent to cancel the current policy. Submit the completed application along with a down payment to the new company. When you receive it, place the new certificate verifying coverage in an easily accessible location.

The critical component of shopping around is to try to compare the same liability limits and deductibles on each quote and and to get rate quotes from as many carriers as you can. This enables the most accurate price comparison and the best price quote selection.

When comparison shopping, comparing more prices will improve the odds of getting the best rates. Not every company allows you to get Newark HS 250h insurance quotes over the internet, so you should also compare rates from them as well.

The companies shown below can provide price quotes in New Jersey. To get cheaper car insurance in Newark, NJ, we recommend you compare several of them in order to find the cheapest rates.

Data for Lexus HS 250h insurance

The premium table below showcases a range of insurance coverage prices for Lexus HS 250h models. Being more informed about how premiums are figured can be of help when making decisions when choosing a new policy provider.

Lexus HS 250h Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
HS 250H 4-Dr Sedan $578 $1246 $552 $32 $166 $2,574 $215
HS 250H Premium 4-Dr Sedan $578 $1246 $552 $32 $166 $2,574 $215
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Table data does not factor in vehicle garaging location which can change premium rates substantially.

Can higher deductibles save money?

A question often asked by Newark drivers is how high should your deductibles be. The data tables below illustrate the costs and benefits when you select higher and lower physical damage deductibles. The first set of rates uses a $100 physical damage deductible and the second rate chart uses a $1,000 deductible.

Lexus HS 250h insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
HS 250H 4-Dr Sedan $520 $1014 $408 $24 $122 $2,113 $176
HS 250H Premium 4-Dr Sedan $520 $1014 $408 $24 $122 $2,113 $176
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Lexus HS 250h insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
HS 250H 4-Dr Sedan $288 $534 $408 $24 $122 $1,376 $115
HS 250H Premium 4-Dr Sedan $288 $534 $408 $24 $122 $1,376 $115
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rate information does not factor in specific zip code location which can lower or raise coverage rates significantly.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs an average of $61 more each month or $732 each year averaged for all HS 250h models than choosing the higher $1,000 deductible. Since you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average at a minimum 15 months between claims, you would more than likely save some money if you choose a higher deductible.

How to calculate deductible break even point

Average monthly premium for $100 deductibles: $176
Average monthly premium for $1,000 deductibles (subtract): - $115
Monthly savings from raising deductible: $61
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $61
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

One thing to note is that raising deductibles means you will have to pay more out-of-pocket when you file a claim. You should have some funds available in order to pay the deductible to have repairs made.

Annual premiums comparing men and women in Newark

The diagram below illustrates the comparison of Lexus HS 250h auto insurance rates for male and female drivers. The rate quotes are based on no accidents, no driving violations, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are applied to the premium.

These eight discounts can lower your auto insurance rates

Companies that sell car insurance don't always publicize every discount they offer very well, so the following list contains some of the more common and the more hidden savings tricks you should be using when you buy Newark car insurance online.Discount auto insurance

  • Telematics Data - People who choose to allow their insurance company to monitor driving patterns remotely such as Snapshot from Progressive or Drivewise from Allstate could save a few bucks if they are good drivers.
  • Policy Bundle Discount - If you combine your auto and homeowners policies and insure them with the same company you may earn up to 20% off your total HS 250h insurance premium.
  • Discounts for New Vehicles - Adding a new car to your policy may earn a small discount since new model year vehicles are generally safer.
  • College Student Discount - Kids who live away from home to go to college and do not have a car can be insured at a reduced rate.
  • Active Military Service - Having a family member in the military may lower your rates slightly.
  • No Charge for an Accident - This one is not really a discount per se, but companies like Liberty Mutual and GEICO may permit one accident without the usual rate increase if you are claim-free prior to being involved in the accident.
  • Claim-Free Discount - Insureds with no claims or accidents pay much less in comparison with bad drivers.
  • Driver's Ed - Cut your cost by having your teen driver participate in a local driver's education class if offered at their school.

Discounts save money, but please remember that most discount credits are not given to the entire policy premium. A few only apply to the price of certain insurance coverages like medical payments or collision. Even though the math looks like you could get a free auto insurance policy, auto insurance companies aren't that generous.

The information below illustrates the difference between Lexus HS 250h insurance costs with and without discounts. The data assumes a male driver, no violations or accidents, New Jersey state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, multi-car, claim-free, and multi-policy discounts applied.

A list of auto insurance companies and a summarized list of policyholder discounts are shown below.

  • 21st Century includes discounts for good student, early bird, automatic seat belts, student driver, and air bags.
  • Progressive offers discounts including online signing, online quote discount, multi-vehicle, continuous coverage, homeowner, good student, and multi-policy.
  • State Farm discounts include safe vehicle, anti-theft, multiple autos, good student, and good driver.
  • Nationwide offers discounts for business or organization, multi-policy, good student, anti-theft, and easy pay.
  • Esurance may offer discounts for defensive driver, claim free, Switch & Save, online quote, and emergency road assistance.
  • The Hartford has savings for good student, bundle, air bag, defensive driver, driver training, anti-theft, and vehicle fuel type.

When getting a coverage quote, ask every prospective company how many discounts you can get. Some discounts listed above may not be offered in Newark. To see companies that have a full spectrum of discounts in Newark, click here.

Insurance protects more than just your car

Even though Newark HS 250h insurance rates can get expensive, insurance serves several important purposes.

First, almost all states have mandatory insurance requirements which means it is punishable by state law to not carry a minimum amount of liability insurance coverage if you drive a vehicle. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.

Second, if you bought your vehicle with a loan, most lenders will force you to have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may buy a policy for your Lexus at a more expensive rate and make you pay for the much more expensive policy.

Third, insurance protects both your vehicle and your assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are sued as the result of your driving. If damage is caused by hail or an accident, your policy will pay to repair the damage minus the deductible amount.

The benefits of insuring your HS 250h are definitely more than the cost, specifically if you ever have a liability claim. The average driver in New Jersey overpays more than $865 each year so it's recommended you shop around at least once a year to ensure rates are inline.

Ratings for New Jersey car insurance companies

Finding the highest-rated insurer is difficult considering how many choices drivers have in New Jersey. The company information listed below may help you choose which auto insurance companies you want to consider putting your business with.

Best Car Insurance Companies in Newark
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Mercury Insurance 87 96 100 87% A+ 93.4
The Hartford 88 96 91 93% A+ 92.6
Progressive 84 94 99 90% A+ 92.4
Travelers 84 93 100 87% A++ 92.3
State Farm 84 93 95 87% A++ 91
Farmers Insurance 87 92 90 85% A 90.6
Safeco Insurance 85 91 87 86% A 88.4
USAA 71 93 98 87% A++ 88
GEICO 73 93 95 85% A++ 87.1
21st Century 85 85 91 89% A 86.9
Liberty Mutual 72 91 97 83% A 86.4
AAA Insurance 85 85 88 86% A 85.8
Nationwide 71 90 93 83% A+ 84.9
Allstate 69 92 92 83% A+ 84.4
American Family 77 96 80 85% A 83.8
Esurance 70 80 89 77% A+ 79.2
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Data Source: Insure.com Best Car Insurance Companies

Comparing quotes from local Newark insurance agents

Many people still prefer to get professional advice from a licensed agent. The best thing about getting online price quotes is the fact that drivers can get better rates but also keep your business local. And buying from neighborhood agents is important particularly in Newark.

Insurance agency in NewarkTo make it easy to find an agent, after completing this short form, the quote information is instantly submitted to participating agents in Newark that give free quotes for your business. It's much easier because you don't need to leave your computer since price quotes are sent directly to you. Get lower rates without having to waste a lot of time. If for some reason you want to get a comparison quote from one company in particular, just search and find their rate quote page and complete a quote there.

Picking the best company should include more criteria than just the bottom line cost. Any agent in Newark should have no problem answering these questions:

  • Where are claims handled?
  • How often do they review coverages?
  • Is there a 24/7 contact number?
  • Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
  • Is there a Errors and Omissions policy in force?

Parts of your insurance policy

Knowing the specifics of a insurance policy can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Below you'll find the usual coverages offered by insurance companies.

Comprehensive protection

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like theft, rock chips in glass, hitting a bird and damage from getting keyed. The most a insurance company will pay at claim time is the cash value of the vehicle, so if it's not worth much more than your deductible consider dropping full coverage.

Medical expense coverage

Coverage for medical payments and/or PIP reimburse you for expenses for nursing services, dental work, doctor visits and prosthetic devices. The coverages can be used to fill the gap from your health insurance plan or if you do not have health coverage. They cover you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Coverage for collisions

This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like hitting a mailbox, driving through your garage door, sideswiping another vehicle and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. It's also possible to raise the deductible on your HS 250h to bring the cost down.

Uninsured or underinsured coverage

This provides protection from other motorists when they are uninsured or don't have enough coverage. This coverage pays for injuries sustained by your vehicle's occupants and damage to your Lexus HS 250h.

Since many New Jersey drivers have only the minimum liability required by law (15/30/5), their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these limits are identical to your policy's liability coverage.

Liability auto insurance

This will cover damage that occurs to a person or their property in an accident. This coverage protects you from legal claims by others. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 15/30/5 that means you have a $15,000 limit per person for injuries, a per accident bodily injury limit of $30,000, and a total limit of $5,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.

Liability insurance covers claims like structural damage, pain and suffering and attorney fees. The amount of liability coverage you purchase is your choice, but it's cheap coverage so purchase higher limits if possible. New Jersey requires minimum liability limits of 15/30/5 but you should consider buying more coverage.

The illustration below demonstrates why minimum state limits may not provide adequate coverage.