If saving the most money is your goal, then the best way to find discount auto insurance rates in Tulsa is to annually compare prices from insurers in Oklahoma. This can be done by following these guidelines.
- Spend a few minutes and learn about how auto insurance works and the measures you can take to prevent expensive coverage. Many policy risk factors that drive up the price such as at-fault accidents and a bad credit score can be rectified by making lifestyle changes or driving safer. This article gives additional tips to prevent rate hikes and find available discounts that you may qualify for.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like GEICO and State Farm, while independent agencies can give you price quotes for a wide range of companies.
- Compare the new rate quotes to your existing coverage and see if there is a cheaper rate in Tulsa. If you find a lower rate and decide to switch, ensure coverage does not lapse between policies.
An important note is to try to compare the same coverage limits and deductibles on every quote and and to compare as many car insurance companies as possible. This enables an apples-to-apples comparison and and a good selection of different prices.
Shockingly, over 70% of drivers have stayed with the same insurance company for four years or more, and just short of a majority have never shopped around. With the average premium in Oklahoma being $1,777, drivers could cut their rates by as much as $600 a year, but they underestimate how much money they would save if they moved their coverage to a different company.
Reducing your Lexus RX 350 insurance rates is pretty simple and can save money. Drivers just need to spend a little time to compare rate quotes to find the company with affordable Tulsa auto insurance quotes.
The following companies are ready to provide price comparisons in Tulsa, OK. To locate cheaper car insurance in Oklahoma, we recommend you compare several of them to find the most affordable auto insurance rates.
Get cheaper Lexus RX 350 insurance rates in Tulsa
Properly insuring your vehicles can get expensive, but you might find some hidden discounts to reduce the price significantly. Many of these discounts will be applied automatically at the time of purchase, but less common discounts must be asked for in order for you to get them.
- Paperwork-free – A few larger online companies will discount your bill up to fifty bucks get Tulsa auto insurance over the internet.
- Military Deployment Discount – Having a family member in the military may lower your prices slightly.
- Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase auto and life insurance together.
- Discount for New Cars – Buying car insurance coverage on a new vehicle is cheaper since newer models have better safety ratings.
- Air Bag Discount – Factory air bags or automatic seat belts could see savings of 25 to 30%.
- Pay Upfront and Save – If you pay your bill all at once instead of monthly or quarterly installments you can avoid monthly service charges.
Policy discounts save money, but most discounts do not apply to your bottom line cost. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because it seems like you could get a free car insurance policy, you aren’t that lucky.
The chart below shows the comparison of Lexus RX 350 insurance prices with and without policy discounts. The data assumes a female driver, no accidents or driving violations, Oklahoma state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, marriage, claim-free, multi-policy, and homeowner discounts applied.
Some companies that may have most of these discounts are:
Check with every company to apply every possible discount. Depending on the company, some discounts may not apply to policies in Tulsa. If you would like to see a list of insurance companies who offer discounts in Tulsa, click here to view.
Auto insurance analysis for a Lexus RX 350
The rate information displayed below showcases a range of insurance costs for Lexus RX 350 models. Having knowledge of how auto insurance premiums are established can benefit drivers when making informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $276 | $544 | $486 | $28 | $146 | $1,480 | $123 |
| RX 350 4WD | $276 | $544 | $486 | $28 | $146 | $1,480 | $123 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Premium costs do not factor in specific Tulsa garaging location which can modify coverage rates substantially.
Where to set your deductibles
One of the most common auto insurance questions is where should you set your physical damage deductibles. The rates shown below can help show the rate difference when you select higher and lower deductibles. The first set of rates uses a $100 deductible for physical damage and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $486 | $946 | $506 | $30 | $152 | $2,145 | $179 |
| RX 350 4WD | $486 | $946 | $506 | $30 | $152 | $2,145 | $179 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RX 350 2WD | $354 | $638 | $506 | $30 | $152 | $1,680 | $140 |
| RX 350 4WD | $354 | $638 | $506 | $30 | $152 | $1,680 | $140 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rate information does not factor in specific zip code location which can decrease or increase prices substantially.
Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you about $39 more each month or $468 every year than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at a minimum 10 months between claim filings, you would probably come out ahead by selecting a higher deductible.
How to calculate deductible break even period
| Average monthly premium for $100 deductibles: | $179 |
| Average monthly premium for $500 deductibles (subtract): | – $140 |
| Monthly savings from raising deductible: | $39 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $39 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 10 months |
One important caveat is that higher deductibles results in more money out-of-pocket when you have a physical damage claim. It will be required that you have some available funds in the event you have to pay the deductible.
The illustration below demonstrates how deductibles and can increase or decrease Lexus RX 350 insurance premiums for each age group. The premium estimates are based on a single female driver, comp and collision included, and no policy discounts are applied.
Auto insurance rates by age and gender
The example below illustrates the comparison of Lexus RX 350 annual premium costs for male and female drivers. The data assumes a clean driving record, no claims, comprehensive and collision coverage, $100 deductibles, single status, and no additional discounts are factored in.
Full coverage rates compared to liability-only
The example below shows the difference between Lexus RX 350 yearly insurance costs with full coverage and liability only. The premiums are based on no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Should you be buying full coverage?
There is no clear-cut formula to drop full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your Lexus RX 350 book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $5,000 after the deductible is paid. If you are paying more than $500 annually for full coverage, then it may be the right time to buy liability only.
There are some circumstances where eliminating full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not eliminate full coverage.
You may want advice from an insurance agent
Many people prefer to talk to a local agent and that is a personal choice. Most agents can help you choose the best coverages and help you file claims. One of the best bonuses of getting online price quotes is the fact that drivers can get better rates but still work with a licensed agent. And buying from neighborhood insurance agencies is still important in Tulsa.
To make it easy to find an agent, after completing this quick form, your insurance coverage information is transmitted to insurance agents in Tulsa who want to provide quotes and help you find cheaper coverage. It’s much easier because you don’t need to search for an agent because quoted prices will be sent to you instantly. If for some reason you want to get a rate quote from one company in particular, just go to their quote page and submit a quote form there.
Multiple types of auto insurance agents in Tulsa
When narrowing the list to find a local insurance agency, you must know there are a couple different types of agents and how they are slightly different. Auto insurance policy providers can be classified as either independent or exclusive depending on the company they work for. Both can handle auto insurance, but it is a good idea to know the difference in the companies they write for because it can influence buying decisions.
Independent Auto Insurance Agencies
Independent agents are not restricted to one company and that enables them to quote your coverage through lots of different companies and find you cheaper rates. If your premiums go up, your agent can just switch to a different company and you don’t have to find a new agent.
If you are trying to find cheaper rates, we recommend you contact several independent agencies for maximum quote selection. Many write coverage with smaller regional carriers that may have much lower rates than larger companies.
Featured below are Tulsa independent insurance agencies that may be able to give price quotes.
- Best Insurance
1825 S Garnett Rd – Tulsa, OK 74128 – (918) 234-0022 – View Map - Rooney Insurance Agency, Inc.
4700 S Garnett Rd #200 – Tulsa, OK 74146 – (918) 582-0565 – View Map - GDK Insurance Agency, Inc.
3908 E 31st St – Tulsa, OK 74135 – (918) 742-5861 – View Map
Exclusive Agencies
These agents can only place business with one company and examples are Farmers Insurance and State Farm. Exclusive agents are unable to compare rates from other companies so keep that in mind. Exclusive agents are well schooled on their company’s products which aids in selling service over price. Consumers frequently choose to use an exclusive agent mainly due to loyalty to the company and the convenience of having a single billing for all their coverages.
The following is a short list of exclusive agents in Tulsa who can help you get price quote information.
- Jonathan Gibson – State Farm Insurance Agent
205 E Pine St #102 – Tulsa, OK 74106 – (918) 382-5717 – View Map - Janine Billings – State Farm Insurance Agent
4401 S Peoria Ave A – Tulsa, OK 74105 – (918) 747-9555 – View Map - Clarence Zitterkob – State Farm Insurance Agent
7820 E 101st St – Tulsa, OK 74133 – (918) 369-2000 – View Map
Choosing a insurance agency requires you to look at more than just a cheap quote. Any agent in Tulsa should be willing to answer these questions.
- What will you get paid if your car is a total loss? How is that amount determined?
- How often do they review policy coverages?
- What insurance companies do they recommend if they are an independent agent?
- Will they give you a referral list?
- Is there a local claims center in Tulsa?
- Will the company cover a rental car if your car is getting fixed?
Upon receiving positive feedback to these questions as well as a price you’re happy with, you may have just found a car insurance agent that meets your needs to properly insure your vehicles.
Informed Drivers Save More
It’s important that you understand the factors that help calculate car insurance rates. When you understand what determines premiums, this enables you to make decisions that could help you find lower rates.
- Big cities mean more claims – Residing in small towns and rural areas is a good thing when shopping for auto insurance. City drivers have traffic congestion and a longer drive to work. Fewer drivers on the road translates into fewer accidents and a lower car theft rate.
- Drive lots and pay more – The higher the mileage driven in a year’s time the higher your rates will be. Most insurance companies charge rates based upon how much you drive. Autos that do not get driven very much get more affordable rates than those that get driven frequently. Having the wrong rating on your RX 350 can result in significantly higher rates. It’s a good idea to make sure your car insurance policy is showing the correct usage for each vehicle.
- Low coverage deductibles can be expensive – Physical damage coverage, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Examples of some claims that would be covered could be a broken side mirror, vandalism, and windstorm damage. The deductibles you choose tell how much you are willing to pay before your car insurance pays a claim. The more damage repair cost you pay before a claim is paid (deductible), the less your company will charge you for insurance.
- Safer vehicles mean better car insurance rates – Safe vehicles tend to be cheaper to insure. Safer cars have better occupant injury protection and fewer injuries means less claims paid and lower rates for you.
- Insurance claims cost money – If you file a lot of claims you can look forward to increased rates or even have your policy non-renewed. Companies in Oklahoma generally give discounts to people who do not file claims often. Auto insurance is intended to be relied upon for more catastrophic claims.
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Lexus RX 350 insurance loss statistics – Insurers take into consideration historical loss data for every vehicle when they set coverage costs for each model. Vehicles that tend to have a trend towards higher claim severity or frequency will have higher rates.
The table shown below demonstrates the historical insurance loss data for Lexus RX 350 vehicles. For each policy coverage type, the claim probability for all vehicles, as an average, equals 100. Percentages below 100 suggest a positive loss record, while values over 100 indicate more frequent claims or an increased probability of a larger loss.
Lexus RX 350 Insurance Claim Statistics Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus RX 350 4dr 2WD 111 96 91 72 97 88 Lexus RX 350 4dr 4WD 122 99 112 83 75 78 BETTERAVERAGEWORSEStatistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance protects more than just your car
Despite the potentially high cost of Lexus RX 350 insurance, auto insurance may be required for several reasons.
- Most states have minimum liability requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage if you don’t want to risk a ticket. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your RX 350, almost all lenders will make it a condition of the loan that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Lexus at a more expensive rate and require you to reimburse them for the much more expensive policy.
- Insurance safeguards both your Lexus RX 350 and your assets. Insurance will pay for medical bills that are the result of an accident. As part of your policy, liability insurance will also pay for a defense attorney in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of insuring your RX 350 are without a doubt worth the cost, particularly for liability claims. But the average American driver is overpaying over $825 a year so compare rate quotes at least once a year to save money.
What is the best car insurance company in Tulsa?
Choosing a good quality insurance company can be challenging considering how many companies there are in Tulsa. The company information listed below can help you decide which car insurance providers you want to consider purchasing from.
Top 10 Tulsa Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Top 10 Tulsa Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
One last thing about your coverage
When getting Tulsa auto insurance quotes online, you should never skimp on critical coverages to save a buck or two. There are a lot of situations where an insured dropped liability limits or collision coverage only to regret at claim time they didn’t purchase enough coverage. Your goal is to purchase plenty of coverage at the best cost and still be able to protect your assets.
Lower-priced car insurance in Tulsa is definitely available from both online companies in addition to many Tulsa insurance agents, so you should compare both to have the best rate selection. Some car insurance companies do not offer the ability to get quotes online and many times these small insurance companies provide coverage only through independent agents.
In this article, we covered some good ideas how to compare Lexus RX 350 insurance premium rates in Tulsa. The key thing to remember is the more price quotes you have, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates are with a company that doesn’t do a lot of advertising.
Additional detailed information is available by following these links:
- Anti-Lock Brake FAQ (iihs.org)
- Who Has Affordable Car Insurance Quotes for a Chevrolet Equinox in Tulsa? (FAQ)
- What Auto Insurance is Cheapest for Drivers with a Bad Driving Record in Tulsa? (FAQ)
- Airbag FAQ (iihs.org)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)