Car Insurance Rate Quotes for a Lexus LS 460 in Newark

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It's a fact that insurance companies don't want their customers to go rate shopping. People who compare rates at least once a year are inclined to switch to a new company because there is a significant possibility of finding a lower-cost company. A recent survey found that people who compared rates once a year saved on average $860 a year compared to drivers who never shopped around for better prices.

If finding the lowest price on auto insurance is the reason you're reading this, understanding the best way to shop and compare coverage rates can make shopping around easier.

Insurance rates Lexus LS 460 in NewarkThe easiest way to get the cheapest Lexus LS 460 insurance in Newark is to compare prices regularly from different companies in New Jersey.

  • Step 1: Get a basic knowledge of how companies set rates and the factors you can control to keep rates in check. Many policy risk factors that result in higher rates such as distracted driving and a substandard credit score can be improved by making minor driving habit or lifestyle changes.
  • Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like Progressive and State Farm, while independent agencies can give you price quotes from multiple insurance companies. View companies
  • Step 3: Compare the new rates to your current policy to see if a cheaper rate is available. If you find a better price, verify that coverage does not lapse between policies.

One important bit of advice is to use identical deductibles and limits on every price quote and and to get price quotes from as many companies as possible. This ensures a fair price comparison and a complete selection of prices.

Finding a lower price on Lexus LS 460 insurance is an easy way to save money. Just invest a little time to compare rates from different insurance companies.

The companies shown below are ready to provide comparison quotes in Newark, NJ. If you want to find the cheapest car insurance in Newark, it's highly recommended you get rates from several of them to get the cheapest price.

Car insurance protects more than just your car

Despite the high cost of buying insurance for a Lexus LS 460 in Newark, maintaining insurance may be required for several reasons.

  • Almost all states have minimum liability requirements which means you are required to buy specific minimum amounts of liability insurance if you don't want to risk a ticket. 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.
  • If you have a lien on your Lexus, more than likely the lender will require you to buy insurance to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may insure your Lexus at a more expensive rate and require you to fork over much more than you were paying before.
  • Insurance safeguards not only your vehicle but also your assets. It will also provide coverage for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to repair the damage.

The benefits of buying enough insurance definitely exceed the price paid, particularly if you ever have a claim. The average driver in America is overpaying over $830 a year so you should quote and compare rates at least once a year to save money.

Facts and figures for Lexus LS 460 insurance

The table below covers a range of insurance premium costs for Lexus LS 460 models. Learning more about how auto insurance premiums are calculated can assist in making informed decisions when comparing rate quotes.

Lexus LS 460 Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $316 $620 $420 $24 $126 $1,506 $126
LS 460 4-Dr Sedan $316 $620 $420 $24 $126 $1,506 $126
LS 460 AWD 4-Dr $316 $620 $420 $24 $126 $1,506 $126
LS 460 L 4-Dr Sedan $316 $620 $420 $24 $126 $1,506 $126
LS 460 L AWD 4-Dr $316 $620 $420 $24 $126 $1,506 $126
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Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Table data does not factor in Newark location which can alter coverage rates substantially.

An analysis of deductible level

One common question asked by Newark drivers is how high or low should comp and collision deductibles be. The tables below may help to conceptualize the differences in premium rates between high and low physical damage coverage deductibles. The first table uses a $100 deductible for physical damage and the second rate table uses a $1,000 deductible.

Lexus LS 460 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $626 $1280 $408 $24 $122 $2,485 $207
LS 460 4-Dr Sedan $626 $1280 $408 $24 $122 $2,485 $207
LS 460 AWD 4-Dr $626 $1280 $408 $24 $122 $2,485 $207
LS 460 L 4-Dr Sedan $626 $1280 $408 $24 $122 $2,485 $207
LS 460 L AWD 4-Dr $626 $1280 $408 $24 $122 $2,485 $207
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Lexus LS 460 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LS 460 4-Dr Sedan $348 $674 $408 $24 $122 $1,576 $131
LS 460 4-Dr Sedan $348 $674 $408 $24 $122 $1,576 $131
LS 460 AWD 4-Dr $348 $674 $408 $24 $122 $1,576 $131
LS 460 L 4-Dr Sedan $348 $674 $408 $24 $122 $1,576 $131
LS 460 L AWD 4-Dr $348 $674 $408 $24 $122 $1,576 $131
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Premium costs do not factor in garaging location in Newark which can revise rates considerably.

Based on the data above, we can derive that using a $100 deductible costs an average of $76 more each month or $912 each year across all Lexus LS 460 models than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 12 months between claim filings, you would save more money if you elect the higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $100 deductibles: $207
Average monthly premium for $1,000 deductibles (subtract): - $131
Monthly savings from raising deductible: $76
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $76
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

The illustration below demonstrates how deductible levels and can raise or lower Lexus LS 460 insurance premiums for different age groups. The rates are based on a single female driver, comp and collision included, and no discounts are factored in.

Reckless driving habits raise insurance rates

The chart below illustrates how traffic citations and accidents impact Lexus LS 460 insurance costs for different age categories. The costs are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are factored in.

Lower-cost Newark car insurance rates with discounts

Some companies don't necessarily list every discount very well, so the next list breaks down some of the best known in addition to some of the lesser obvious credits that may apply to you.Cheaper car insurance with discounts

  • Membership in Organizations - Affiliation with specific professional or occupational memberships or organizations could earn you a nice discount when shopping for car insurance.
  • Military Discounts - Being deployed in the military can result in better prices.
  • Theft Deterrent System - Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and qualify for as much as a 10% discount.
  • More Vehicles More Savings - Insuring multiple cars or trucks with one company can reduce the rates for all insured vehicles.
  • Mature Driver Discount - Mature drivers could receive a slight reduction on a Newark car insurance quote.
  • Accident-Free Discounts - Insureds with no claims or accidents have much lower rates compared to insureds who have frequent claims or accidents.
  • Paper-free Discount - A few larger companies will discount your bill up to fifty bucks for signing up online.
  • Low Miles Discount - Maintaining low annual mileage can qualify you for slightly better premium rates than normal.
  • Seat Belts Save more than Lives - Requiring all passengers to use their safety belts may be able to save a few bucks off the medical payments premium.
  • Save with a New Car - Buying a new car instead of a used LS 460 may earn a small discount because new model year vehicles keep occupants safer.

It's important to understand that most discount credits are not given to the overall cost of the policy. Most only reduce the cost of specific coverages such as liability and collision coverage. If you do the math and it seems like having all the discounts means you get insurance for free, companies don't profit that way.

The example below shows the difference between Lexus LS 460 insurance prices with and without discounts being applied to the rates. The rates are based on a male driver, no violations or claims, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, claim-free, multi-car, homeowner, and safe-driver discounts applied.

To find insurance companies with the best discounts in Newark, click here.