It’s an obvious conclusion that auto insurance companies don’t want policyholders to shop around. Insureds who shop around for cheaper rates will probably move their business because there is a good chance of finding a policy with more affordable rates. A study discovered that consumers who compared rate quotes regularly saved approximately $860 a year compared to those who don’t make a habit of comparing rates.
If finding the cheapest rates on insurance is your objective, then having an understanding of the best way to quote and compare auto insurance can make the process more efficient.
It takes a few minutes, but the best way to get the cheapest car insurance rates is to do an annual price comparison from insurance carriers who provide auto insurance in Portland.
- Step 1: Try to learn about the coverage provided by your policy and the things you can control to keep rates low. Many risk factors that result in higher prices such as speeding tickets, careless driving and an unfavorable credit rating can be improved by making minor changes to your lifestyle.
- Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agents can quote rates from multiple companies. View companies
- Step 3: Compare the new rate quotes to the premium of your current policy and see if there is a cheaper rate in Portland. If you can save money and buy the policy, make sure coverage is continuous and does not lapse.
- Step 4: Give notification to your current company to cancel your current coverage and submit the application along with any required down payment to your new agent or company. Don’t forget to keep your new proof of insurance paperwork in a readily accessible location in your vehicle.
An important part of this process is to make sure you enter the same liability limits and deductibles on each price quote and and to get quotes from as many different companies as possible. This provides an apples-to-apples comparison and a better comparison of the market.
Choosing the most cost-effective insurance policy in Portland can really be easy if you know what you’re doing. Nearly everyone who needs lower cost insurance will find a cheaper policy. But Oregon consumers do need to know how companies market on the web because it can help you find the best coverage.
How to get Portland Lexus LS 460 insurance price quotes
When comparing auto insurance rates, know that more quotes helps improve the odds of finding the best price.
The following companies have been selected to offer price comparisons in Oregon. To get the best cheap auto insurance in Portland, we suggest you click on several of them to find the lowest auto insurance rates.
Insurance just makes sense
Even though it can be expensive, maintaining insurance is not optional due to several reasons.
- The majority of states have mandatory insurance requirements which means the state requires specific minimum amounts of liability in order to be legal. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If your LS 460 has a lienholder, most banks will have a requirement that you have full coverage to guarantee payment of the loan. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Lexus at a much higher rate and require you to pay much more than you were paying before.
- Insurance preserves both your Lexus and your assets. It will also cover all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to have it repaired.
The benefits of buying insurance are without a doubt worth the cost, especially for larger claims. The average driver in Oregon is overpaying more than $865 each year so compare rates at least once a year to save money.
Insurance coverage details
The data table shown next showcases estimates of policy rates for Lexus LS 460 models. Learning a little about how insurance prices are formulated can assist in making informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $222 | $506 | $354 | $20 | $106 | $1,208 | $101 |
| LS 460 4-Dr Sedan | $222 | $506 | $354 | $20 | $106 | $1,208 | $101 |
| LS 460 AWD 4-Dr | $222 | $506 | $354 | $20 | $106 | $1,208 | $101 |
| LS 460 L 4-Dr Sedan | $222 | $506 | $354 | $20 | $106 | $1,208 | $101 |
| LS 460 L AWD 4-Dr | $222 | $506 | $354 | $20 | $106 | $1,208 | $101 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Information does not factor in specific location information which can alter auto insurance rates greatly.
An analysis of deductible level
When comparing insurance rates, the most common question is what deductibles to buy. The following insurance rates show the costs and benefits of buying low and high insurance deductibles. The first data table uses a $100 deductible for comprehensive and collision coverage and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $416 | $850 | $272 | $16 | $82 | $1,661 | $138 |
| LS 460 4-Dr Sedan | $416 | $850 | $272 | $16 | $82 | $1,661 | $138 |
| LS 460 AWD 4-Dr | $416 | $850 | $272 | $16 | $82 | $1,661 | $138 |
| LS 460 L 4-Dr Sedan | $416 | $850 | $272 | $16 | $82 | $1,661 | $138 |
| LS 460 L AWD 4-Dr | $416 | $850 | $272 | $16 | $82 | $1,661 | $138 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LS 460 4-Dr Sedan | $304 | $574 | $272 | $16 | $82 | $1,248 | $104 |
| LS 460 4-Dr Sedan | $304 | $574 | $272 | $16 | $82 | $1,248 | $104 |
| LS 460 AWD 4-Dr | $304 | $574 | $272 | $16 | $82 | $1,248 | $104 |
| LS 460 L 4-Dr Sedan | $304 | $574 | $272 | $16 | $82 | $1,248 | $104 |
| LS 460 L AWD 4-Dr | $304 | $574 | $272 | $16 | $82 | $1,248 | $104 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Rate quotes do not factor in specific location which can alter premiums substantially.
We can estimate from the data above that using a $100 deductible costs approximately $34 more each month or $408 annually across all Lexus LS 460 models than buying 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 have at a minimum 12 months between claim filings, you would come out ahead by selecting a higher deductible. The numbers below show a better example of how this determination is made.
| Average monthly premium for $100 deductibles: | $138 |
| Average monthly premium for $500 deductibles (subtract): | – $104 |
| Monthly savings from raising deductible: | $34 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $34 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 12 months |
One important note is that a higher deductible level means you will have to pay more of your own money at claim time. You will want to have enough money put aside in the event you have to pay the deductible.
The information below shows how different deductible levels and can raise or lower Lexus LS 460 yearly insurance costs for different age groups. The prices are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
How accidents and tickets impact rates
The example below demonstrates how traffic citations and at-fault accidents drive up Lexus LS 460 annual premium costs for each age group. Data assumes a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
Lexus LS 460 full coverage rates compared to liability only
The chart below visualizes the comparison of Lexus LS 460 insurance prices with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.
When to stop buying full coverage
There is no exact formula of when to phase out comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Lexus LS 460 replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying your deductible. If you are currently paying more than $400 annually for physical damage coverage, then it could be time to drop full coverage.
There are some cases where buying only liability insurance is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage.
Verify you’re receiving every discount
Car insurance companies do not advertise the complete list of policy discounts very clearly, so the following is a list of both the well known and the harder-to-find car insurance savings.
- Life Insurance Discount – Select companies reward you with a small discount if you purchase a life insurance policy as well.
- ABS Braking Discount – Cars, trucks, and SUVs that have steering control and anti-lock brakes are safer to drive so you can save 10 percent or more.
- Student Discounts – Excelling in school could provide a savings of up to 20% or more. The good student discount can last up until you turn 25.
- Service Members Pay Less – Being on active deployment in the military may qualify for rate reductions.
- Senior Citizens – Mature drivers may receive lower premium rates.
- Low Mileage – Low mileage vehicles could earn discounted premium rates on garaged vehicles.
- Homeowners Savings – Just owning your own home can save you money because of the fact that having a home means you have a higher level of financial diligence.
Drivers should understand that most discount credits are not given to all coverage premiums. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. If you do the math and it seems like all those discounts means the company will pay you, company stockholders wouldn’t be very happy.
The illustration below compares Lexus LS 460 insurance costs with and without discounts applied to the premium. The premiums assume a female driver, no driving violations, no at-fault accidents, Oregon state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, homeowner, safe-driver, claim-free, and marriage discounts applied.
If you would like to choose from a list of providers that provide some of the discounts listed above in Oregon, click this link.
Buying insurance from Portland insurance agencies
Many drivers prefer to get advice from a local agent and that is recommended in a lot of cases One of the best bonuses of getting online price quotes is you may find the lowest rates and still have an agent to talk to.
After filling out this form (opens in new window), the quote information is transmitted to local insurance agents who can give free rate quotes for your business. It makes it easy because there is no need to find an agent on your own since rate quotes are delivered directly to your email. It’s the lowest rates AND an agent nearby. If you have a need to compare prices from a specific insurance provider, just visit that company’s website and fill out their quote form.
Finding the right insurance company should depend on more than just the bottom line cost. You should also get answers to these questions.
- How experienced are they in personal risk management?
- Is every driver in your family covered?
- Is the agent properly licensed in Oregon?
- What insurance company do they write the most business with?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Does the company use OEM repair parts?
- How long has their agency been in business in Portland?
- Who are their largest clients?
When finding a local Portland insurance agency, it’s important to understand the types of insurance agents and how they can quote your rates. Portland agents are classified as either exclusive or independent.
Exclusive Insurance Agents
Agents in the exclusive channel have only one company to place business with and examples are Farmers Insurance, American Family, State Farm and Allstate. Exclusive agents cannot provide prices from multiple companies so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are highly trained on their products and sales techniques which helps them sell insurance even at higher premiums. Consumers frequently use the same agent mainly due to the prominence of the brand and solid financial strength.
Listed below is a list of exclusive insurance agencies in Portland that can give you comparison quotes.
- GEICO Insurance Agent
8845 SW Cascade Ave Suite 110 – Beaverton, OR 97008 – (503) 924-3320 – View Map - John Lokting – State Farm Insurance Agent
307 SE 102nd Ave – Portland, OR 97216 – (503) 252-5581 – View Map - Donna Tallman – State Farm Insurance Agent
6305 SE Powell Blvd – Portland, OR 97206 – (503) 771-2579 – View Map
Independent Agents (or Brokers)
These type of agents are not employed by one company so they have the ability to put coverage with any number of different companies and get you the best rates possible. If your agent finds better pricing, an independent agent can move your coverage and the insured can keep the same agent. When comparing rate quotes, you need to get several quotes from at least one independent agent to have the most options to choose from. Most can insure with less well-known companies which can save you money.
Below is a list of independent insurance agents in Portland that can give you price quote information.
- Peninsula Insurance
12700 NW Cornell Rd – Portland, OR 97229 – (503) 644-5333 – View Map - Metro One Insurance Agency
3423 S Telegraph Rd, Dearborn, MI 48124 – Dearborn, OR 48124 – (313) 456-9455 – View Map - Chet Hill Insurance
10402 NE Sandy Blvd – Portland, OR 97220 – (503) 256-2020 – View Map
Car insurance can get complicated
When it comes to choosing adequate coverage for your vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different.
Here are some questions about coverages that may help you determine if your situation might need an agent’s assistance.
- Which companies will insure me after a DUI?
- Should I buy additional glass protection?
- Am I covered if I back into my garage door?
- Can my teen drive my company car?
- How much liability coverage do I need in Oregon?
- What exactly is covered by my policy?
- What happens if I owe more than my Lexus LS 460 is worth?
If you can’t answer these questions but a few of them apply then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete this short form.
Best car insurance company in Portland
Picking the highest-rated auto insurance company can be challenging considering how many companies there are in Portland. The ranking information in the next section can help you choose which car insurance companies to look at comparing prices from.
Top 10 Portland Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Don’t give up on cheap coverage
When trying to cut insurance costs, you should never reduce coverage to reduce premium. There have been many situations where drivers have reduced physical damage coverage and discovered at claim time that they should have had better coverage. Your goal should be to purchase plenty of coverage at the lowest possible cost but still have enough coverage for asset protection.
Drivers switch companies for a number of reasons such as poor customer service, policy cancellation, being labeled a high risk driver or even high rates after DUI convictions. Regardless of your reason for switching companies, switching car insurance companies is pretty easy and you might even save some money in the process.
Lower-priced Lexus LS 460 insurance in Portland can be sourced from both online companies as well as from independent agents in Portland, and you need to comparison shop both in order to have the best price selection to choose from. A few companies don’t offer the ability to get a quote online and these smaller companies work with independent insurance agents.
To read more, feel free to visit these articles:
- Auto Crash Statistics (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for High Risk Drivers in Portland? (FAQ)
- Who Has Cheap Portland Auto Insurance Rates After a Speeding Ticket? (FAQ)
- Who Has the Cheapest Portland Auto Insurance Quotes for a Toyota 4Runner? (FAQ)
- How Much are Portland Car Insurance Quotes for Drivers Under 21? (FAQ)
- Who Has Affordable Portland Auto Insurance Rates for Hybrid Vehicles? (FAQ)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Parking Tips to Reduce Door Dings (State Farm)
- Determining Auto Insurance Rates (GEICO)