2006 Lexus GX 470 Insurance Cost – 7 Discounts for Cheaper Prices

Trying to find better insurance coverage rates for your Lexus GX 470? Searching for better insurance prices for a Lexus GX 470 can be an all-consuming task, but you can learn our insurance coverage buying tips and make it easy.

There are more efficient ways to find insurance coverage online so we’re going to tell you the proper way to get price quotes for your Lexus and obtain the best price possible from both online companies and local agents.

You should take the time to quote other rates yearly since insurance rates fluctuate regularly. Despite the fact that you may have had the lowest rate on GX 470 coverage six months ago there is a good chance you can find better prices now. Ignore everything you know about insurance coverage because I’m going to let you in on the secrets to the quickest way to get good coverage at a lower rate.

The method we recommend to compare car insurance rates is to understand most larger insurance companies actually pay money for the chance to give free rates quotes. To begin a comparison, all you need to do is provide details including the year, make and model of vehicles, daily mileage, if it has an alarm system, and what you do for a living. Your information is instantly provided to many highly-rated insurers and they provide comparison quotes quickly.

Get affordable insurance with discounts

Not too many consumers would say insurance is affordable, but you may find discounts that can help lower your rates. Some discounts will apply when you get a quote, but occassionally some discounts must be manually applied prior to getting the savings.

  • One Accident Forgiven – but a handful of insurance companies will forgive one accident before hitting you with a surcharge if you have no claims for a set time period.
  • Air Bag Discount – Factory air bags or motorized seat belts can get savings as much as 30%.
  • Early Switch Discount – Some insurance companies give discounts for renewing your policy prior to your current policy expiring. This can save 10% or more.
  • No Claim Discounts – Drivers who stay claim-free have much lower rates as compared to bad drivers.
  • Membership in Organizations – Affiliation with qualifying employment or professional organizations is a simple method to lower premiums when shopping for insurance.
  • Multiple Policy Discount – When you combine your auto and home insurance with the same company you could get a discount of over 10 percent off each policy depending on the company.
  • Smart Student Discounts – Performing well in school can get you a discount of up to 25%. You can use this discount normally up to age 25.

Consumers should know that most discounts do not apply to all coverage premiums. A few only apply to the price of certain insurance coverages like collision or personal injury protection. So when the math indicates you could get a free insurance policy, nobody gets a free ride. But all discounts will help reduce your overall bill.

If you would like to choose from a list of companies that offer discounts, click here.

Tailor your insurance coverage coverage to you

When it comes to choosing coverage, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions may help highlight whether your personal situation might need professional guidance.

  • What happens if I owe more than my 2006 Lexus GX 470 is worth?
  • What is covered by UM/UIM coverage?
  • Do I pay less if my vehicle is kept in my garage?
  • Is a new car covered when I drive it off the dealer lot?
  • Can my teen drive my company car?
  • What can I do if my company denied a claim?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form. It is quick, free and may give you better protection.

Car insurance coverages for a 2006 Lexus GX 470

Knowing the specifics of your policy can be of help when determining the best coverages for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive insurance – Comprehensive insurance pays for damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like damage from getting keyed, rock chips in glass, hitting a deer and theft. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for bills like nursing services, prosthetic devices, pain medications, hospital visits and doctor visits. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage

Liability car insurance – This coverage protects you from injuries or damage you cause to a person or their property by causing an accident. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that translate to a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things like medical expenses, emergency aid, medical services and court costs. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Collision coverages – This coverage pays to fix your vehicle from damage caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as backing into a parked car, rolling your car, damaging your car on a curb, hitting a parking meter and scraping a guard rail. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and damage to your Lexus GX 470.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Frequently the UM/UIM limits are set the same as your liablity limits.