It’s easy to assume that car insurance companies want to keep your business as long as possible. Consumers who shop around for the cheapest rate are very likely to move their business because of the good chance of finding a more affordable policy premium. A recent car insurance study revealed that consumers who shopped around annually saved $865 a year compared to those who never shopped around for lower prices.
If finding budget-friendly rates on insurance in Oakland is the reason you’re here, then having a good understanding how to get rate quotes and compare car insurance can help simplify the process.
If you want to find the absolute lowest rates, then the best way to get cheaper Lexus RX 350 insurance is to compare prices once a year from insurance carriers in Oakland. Prices can be compared by following these steps.
- Step 1: Try to learn about individual coverages and the factors you can control to lower rates. Many factors that result in higher rates like your driving record and a bad credit score can be improved by making small lifestyle or driving habit changes.
- Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or State Farm, while independent agencies can provide prices for many different companies. Get quotes now
- Step 3: Compare the new rate quotes to your current policy premium to see if switching to a new carrier will save money. If you find better rates and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
- Step 4: Provide notification to your current company to cancel your current coverage and submit a signed application and payment to the new insurer. When you receive it, place the new certificate verifying proof of insurance in your vehicle’s glove compartment or console.
An essential thing to point out is to use the same deductibles and limits on each quote and and to analyze all possible companies. Doing this helps ensure an accurate price comparison and a good representation of prices.
The companies shown below have been selected to offer quotes in Oakland, CA. If you want to find the best cheap car insurance in California, we suggest you compare several of them to get a more complete price comparison.
Insurance coverage analysis
The price information displayed below showcases estimates of coverage prices for Lexus RX 350 models. Being aware of how insurance policy premiums are established can help customers make decisions on the best policy to buy.
|RX 350 2WD
|RX 350 4WD
|Get Your Own Custom Quote Go
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Estimates do not factor in garaging location in Oakland which can raise or lower auto insurance rates significantly.
Physical damage deductible comparison
When comparing auto insurance rates, the most common question is what deductibles to buy. The following insurance rates may aid in understanding the differences in premium rates when you choose different deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.
|RX 350 2WD
|RX 350 4WD
|Get Your Own Custom Quote Go
|RX 350 2WD
|RX 350 4WD
|Get Your Own Custom Quote Go
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in specific location which can lower or raise coverage prices significantly.
We can estimate from the data above that using a $100 deductible will cost in the ballpark of $56 more each month or $672 each year than buying 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 tend to go at a minimum 16 months between claims, you would most likely save money if you choose the higher deductible.
The diagram below shows how different deductible levels and can influence Lexus RX 350 insurance costs for different insured age categories. Data assumes a married female driver, comprehensive and collision coverage, and no other discounts are factored in.
Lexus RX 350 liability-only versus full coverage
The example below shows the comparison of Lexus RX 350 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in California. The data is based on no claims or violations, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
Guidelines for dropping full coverage
There is no set rule to delete physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
For example, let’s say your Lexus RX 350 book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $8,000 after the deductible is paid. If you are currently paying more than $800 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are a few cases where eliminating full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Why you need quality insurance for your Lexus vehicle
Even though it’s not necessarily cheap to insure a Lexus in Oakland, car insurance is required by state law in California and it also provides benefits you may not be aware of.
- Most states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability insurance in order to drive the car legally. 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 took out a loan on your RX 350, almost every bank will force you to have full coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Lexus at a much higher premium rate and require you to reimburse them for the much more expensive policy.
- Car insurance protects both your assets and your Lexus. It will also cover medical expenses that are the result of an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance greatly outweigh the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying more than $810 a year so compare rate quotes at every renewal to help ensure money is not being wasted.
Companies offer lots of discounts on Lexus RX 350 insurance in Oakland
Car insurance is not cheap, but there’s a good chance there are discounts that you may not even know about. Many of these discounts will be applied automatically when you purchase, but some discounts are required to be manually applied before you will receive the discount.
- Senior Citizens – Drivers that qualify as senior citizens are able to get a discount up to 10%.
- Theft Deterrent Discount – Cars and trucks equipped with tracking devices and advanced anti-theft systems help deter theft and will save you 10% or more on RX 350 insurance in Oakland.
- Discount for New Cars – Buying a new car model can save you some money compared to insuring an older model.
- Cautious Drivers – Drivers who don’t get into accidents could pay up to 40% less than drivers with accident claims.
- Multi-policy Discount – If you insure your home and vehicles with one insurance company you may earn at least 10 to 15 percent or more.
- Membership in Organizations – Joining certain professional organizations may earn a discount when getting a Oakland car insurance quote.
Remember that most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like comp or med pay. So when it seems like adding up those discounts means a free policy, insurance companies aren’t that generous.
The diagram below shows the comparison of Lexus RX 350 annual premium costs with and without discounts applied to the rates. The premium estimates are based on a female driver, no driving violations, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, claim-free, multi-car, homeowner, and multi-policy discounts applied.
A few of the larger companies and some of their more popular discounts can be read below.
- American Family has discounts for TimeAway discount, Steer into Savings, multi-vehicle, accident-free, good driver, and air bags.
- Farm Bureau includes discounts for multi-vehicle, youthful driver, driver training, good student, and multi-policy.
- State Farm policyholders can earn discounts including driver’s education, Steer Clear safe driver discount, multiple autos, good driver, and defensive driving training.
- Travelers offers discounts for continuous insurance, home ownership, early quote, hybrid/electric vehicle, save driver, payment discounts, and driver training.
- The Hartford may have discounts that include good student, driver training, air bag, vehicle fuel type, and defensive driver.
- GEICO discounts include multi-policy, anti-lock brakes, emergency military deployment, military active duty, and good student.
- Progressive offers premium reductions for good student, multi-vehicle, multi-policy, online quote discount, and online signing.
If you want inexpensive Oakland car insurance quotes, ask every company how many discounts you can get. All car insurance discounts may not be offered in every state. To see insurance companies with significant discounts in Oakland, click here to view.
Can’t I compare rates from local Oakland insurance agents?
A small number of people would rather get advice from a local agent and that is just fine! Most agents are highly skilled in risk management and help you file claims. The best thing about getting online price quotes is the fact that you can find cheap insurance quotes and still have a local agent. Buying from local insurance agents is still important in Oakland.
By using this quick form, the coverage information is sent to insurance agents in Oakland that can give you free Oakland car insurance quotes and help you find cheaper coverage. You never need to visit any agencies because prices are sent directly to your email. In the event you want to get a price quote for a specific company, you would need to jump over to their website and give them your coverage information.
What type of Oakland car insurance agent is right for you?
If you are wanting to purchase insurance from a good Oakland insurance agent, you need to know there are two different agency structures that differ in how they can insure your vehicles. Agents in Oakland are either independent (non-exclusive) or exclusive. Both can write policy coverage, but it’s important to point out how they are different because it can factor into which type of agent you select.
Independent Insurance Agencies or Brokers
Agents that elect to be independent are not employed by any specific company and that gives them the ability to insure with any number of different companies and find the cheapest rate. If you want to switch companies, the agent simply finds a different carrier and you don’t have to find a new agent. When comparing insurance prices, you definitely need to get some free quotes from at a minimum one independent agency in order to have the best price comparison. Many write coverage with lesser-known insurance companies that may have much lower rates than larger companies.
The following is a short list of independent agencies in Oakland that may be able to give price quotes.
- Fred Loya Insurance
1620 High St STE B – Oakland, CA 94601 – (510) 434-1801 – View Map
- Fiesta Auto Insurance Center
4102 International Blvd – Oakland, CA 94601 – (510) 261-1300 – View Map
- Aviation Marine Insurance Services
5707 Redwood Rd – Oakland, CA 94619 – (510) 530-4415 – View Map
These agents can only provide one company’s prices and examples are Farmers Insurance and State Farm. These agents are not able to place coverage with different providers so they have no alternatives for high prices. They are usually well trained in insurance sales and that allows them to sell at a higher price point. Drivers often purchase coverage from exclusives primarily because of the brand legacy rather than low rates.
Shown below is a list of exclusive agencies in Oakland who can help you get comparison quotes.
- Kristen Law – State Farm Insurance Agent
3940 High St c – Oakland, CA 94619 – (510) 530-3200 – View Map
- Farmers Insurance – Lorraine Yip Yung
1168 Franklin St – Oakland, CA 94607 – (510) 832-5113 – View Map
- Allstate Insurance: Liz Drennan
4170 Piedmont Ave c – Oakland, CA 94611 – (510) 594-2090 – View Map
Choosing the best insurance agency should depend on more than just a cheap price quote. These are some questions your agent should answer.
- If you have an accident, will your rates go up?
- Can they help ensure a fair claim settlement?
- Are there any discounts for paying up front?
- Did they already check your driving record and credit reports?
- Do you qualify for any additional discounts?
- Is the agency active in community causes in Oakland?
- Is coverage determined by price?
Once you have positive feedback to all your questions and locked in a price quote, it’s possible that you found an auto insurance agent that is reputable and can insure your vehicles. Just understand that you are able to terminate coverage whenever you choose to so never feel that you’re stuck with a specific agent with no way out.
When should I discuss my situation with an agent?
When it comes to coverage for your personal vehicles, there really is not a single plan that fits everyone. Your financial needs are unique so your insurance should reflect that
For example, these questions might help in determining if your insurance needs will benefit from professional help.
- Can my teen driver be rated on a liability-only vehicle?
- Is my nanny covered when driving my vehicle?
- When would I need rental car insurance?
- What should my uninsured motorist coverage limits be in California?
- Does car insurance cover theft of personal property?
- When should I remove comp and collision on my Lexus RX 350?
- What if I owe more than I can insure my car for?
- Is there a penalty for late payment?
- Is a driver training discount available?
If you don’t know the answers to these questions, you may need to chat with an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and can help protect your family.
What car insurance coverages do you need?
Knowing the specifics of your car insurance policy helps when choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages found on most car insurance policies.
Uninsured/Underinsured Motorist coverage – This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Because many people only carry the minimum required liability limits (California limits are 15/30/5), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually the UM/UIM limits do not exceed the liability coverage limits.
Medical payments coverage and PIP – Med pay and PIP coverage kick in for immediate expenses like dental work, doctor visits and ambulance fees. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Coverage for liability – This can cover damage that occurs to a person or their property that is your fault. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 15/30/5 that means you have $15,000 in coverage for each person’s injuries, a per accident bodily injury limit of $30,000, and a total limit of $5,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.
Liability can pay for things such as legal defense fees, medical expenses, loss of income and bail bonds. The amount of liability coverage you purchase is your choice, but buy as much as you can afford. California requires drivers to carry at least 15/30/5 but it’s recommended drivers buy better liability coverage.
The next chart shows why low liability limits may not be enough coverage.
Comprehensive coverage – Comprehensive insurance pays for damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like theft, a tree branch falling on your vehicle, falling objects, fire damage and rock chips in glass. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Collision coverage – This covers damage to your RX 350 resulting from a collision with an object or car. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against things such as sustaining damage from a pot hole, backing into a parked car, crashing into a building, scraping a guard rail and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to raise the deductible on your RX 350 to save money on collision insurance.
One last note
When shopping online for car insurance, it’s very important that you do not skimp on critical coverages to save a buck or two. In many instances, someone sacrificed physical damage coverage only to regret that it was a big mistake. The proper strategy is to get the best coverage possible at an affordable rate, but do not sacrifice coverage to save money.
We’ve covered some good ideas how to save on Lexus RX 350 insurance in Oakland. The key thing to remember is the more rate quotes you have, the better chance you’ll have of finding affordable Oakland car insurance quotes. You may even find the lowest premium rates are with an unexpected company. These smaller insurers can often provide lower prices in certain areas than the large multi-state companies such as State Farm, GEICO and Nationwide.
To read more, take a look at the following helpful articles:
- Should I Buy a New or Used Car? (Allstate)
- Who Has Affordable Oakland Auto Insurance for Drivers Over Age 60? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Police Officers in Oakland? (FAQ)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Rental Reimbursement Coverage (Allstate)
- Young Drivers: The High Risk Years Video (iihs.org)
- Red Light Cameras (State Farm)