Save Money on Lexus SC 430 Insurance in San Jose

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Discount Lexus SC 430 insuranceA study showed that most drivers kept their coverage with the same auto insurance company for a minimum of four years, and roughly 40% of drivers have never even compared rates from other companies. Many consumers in San Jose could pocket about 35% a year by just comparing rate quotes, but they underestimate the big savings they would realize if they moved their coverage to a different company.

If saving the most money is your goal, then the best way to find affordable quotes for auto insurance rates in San Jose is to annually compare prices from providers in California.

  • Step 1: Learn about the coverage provided by your policy and the factors you can control to keep rates down. Many rating criteria that are responsible for high rates such as accidents, careless driving, and a not-so-good credit history can be remedied by paying attention to minor details.
  • Step 2: Obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while independent agencies can give you price quotes for a wide range of companies.
  • Step 3: Compare the new rate quotes to your existing coverage to see if cheaper SC 430 coverage is available. If you find a lower rate quote, ensure there is no coverage lapse between policies.
  • Step 4: Tell your current agent or company of your intent to cancel your existing policy and submit a down payment along with a completed application to the new insurer. Once coverage is bound, store the certificate of insurance in an easily accessible location in your vehicle.

One piece of advice is that you'll want to compare similar limits and deductibles on every quote and and to get rate quotes from every insurance company. Doing this guarantees the most accurate price comparison and the best rate selection.

Locating the most cost-effective insurance policy in San Jose is not that difficult. If you have a policy now, you will be able to lower your rates using the tips covered below. Comparison shoppers only have to learn the most time-saving way to get comparison rates from multiple carriers.

How to find the cheapest Lexus SC 430 insurance in San Jose

The companies shown below have been selected to offer price quotes in California. If multiple companies are listed, we suggest you click on several of them to find the most competitive auto insurance rates.

Lexus SC 430 insurance analysis

The coverage table shown below outlines estimates of insurance coverage prices for Lexus SC 430 models. Knowing how insurance quotes are determined is important to be able to make smart choices when buying a policy.

Lexus SC 430 Insurance Rates in San Jose, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SC 430 2-Dr Convertible $370 $804 $488 $28 $146 $1,836 $153
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Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Table data does not factor in the specific area where the vehicle is garaged which can change premiums noticeably.

Comparison of policy deductibles

When comparing insurance rates, the most common question is how high should your deductibles be. The data tables below can help you understand the premium difference when you choose different policy deductibles. The first set of prices uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.

Lexus SC 430 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SC 430 2-Dr Convertible $474 $882 $376 $22 $112 $1,891 $158
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Lexus SC 430 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SC 430 2-Dr Convertible $384 $712 $376 $22 $112 $1,606 $134
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Rate quotes do not factor in your specific San Jose location which can revise insurance rates noticeably.

Based on this data, using a $250 deductible would cost the average driver about $24 more each month or $288 for a full year than choosing the higher $500 deductible. Because you would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you have at least 10 months between claim filings, you would probably save some money by selecting a higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $158
Average monthly premium for $500 deductibles (subtract): - $134
Monthly savings from raising deductible: $24
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 10 months

One important issue to know is that raising deductibles means you will have to pay more out-of-pocket when you have a comprehensive or collision claim. You will want to have some extra funds in the event you have to pay the deductible to have repairs made.

Auto insurance protects more than just your car

Even though it can be expensive, insurance serves a purpose in several ways.

  • Just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability insurance if you drive a vehicle. In California 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 SC 430, it's most likely the lender will stipulate that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank will be required to insure your Lexus at a more expensive rate and require you to fork over the higher price.
  • Insurance safeguards not only your Lexus but also your financial assets. Insurance will also pay for most medical and hospital costs incurred in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you cause an accident and are sued. If damage is caused by hail or an accident, your policy will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance greatly outweigh the cost, especially for larger claims. As of last year, the average driver in California is wasting up to $825 a year so compare rate quotes each time the policy renews to help ensure money is not being wasted.

Car insurance policy specifics

Learning about specific coverages of a car insurance policy helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Below you'll find the normal coverages available from car insurance companies.

Uninsured/Underinsured Motorist coverage - This coverage protects you and your vehicle's occupants from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle's occupants and damage to your Lexus SC 430.

Due to the fact that many California drivers carry very low liability coverage limits (California limits are 15/30/5), their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

Liability car insurance - This coverage protects you from damage that occurs to people or other property that is your fault. It protects YOU from claims by other people. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 15/30/5 which stand for a $15,000 limit per person for injuries, a per accident bodily injury limit of $30,000, and a limit of $5,000 paid for damaged property.

Liability can pay for things such as repair costs for stationary objects, medical services and medical expenses. How much liability coverage do you need? That is a decision to put some thought into, but buy as much as you can afford. California state law requires minimum liability limits of 15/30/5 but you should consider buying better liability coverage.

The illustration below shows why buying the state minimum limits may not be adequate.

Collision coverage - This coverage pays for damage to your SC 430 resulting from a collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like rolling your car, colliding with a tree, damaging your car on a curb and hitting a mailbox. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. It's also possible to bump up the deductible on your SC 430 to get cheaper collision coverage.

Comprehensive coverage - Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as damage from flooding, falling objects and damage from a tornado or hurricane. The most you'll receive from a claim is the market value of your vehicle, so if the vehicle's value is low consider dropping full coverage.

Medical payments coverage and PIP - Med pay and PIP coverage provide coverage for short-term medical expenses such as funeral costs, EMT expenses, ambulance fees and chiropractic care. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage