How Much Does 2002 Lexus RX 300 Insurance Cost?

Looking for lower car insurance rates for your Lexus RX 300? Overwhelmed by the wide range of car insurance choices in your area? Many other people are too. You have such a large number of options that it can really be hard work to find better premium rates.

If you are paying for car insurance now, you should be able to cut costs considerably using these techniques. The purpose of this post is to teach you how car insurance quotes work. Nevertheless, vehicle owners can benefit by having an understanding of the way companies price insurance differently and use this information to your advantage.

Car insurance policy discounts

Car insurance is not an enjoyable expense, but you might find some hidden discounts that could drop your premiums quite a bit. Some of these disounts will be visible at the time of purchase, but occassionally some discounts must be asked about before you will receive the discount.

  • More Vehicles More Savings – Purchasing coverage when you have primary and secondary vehicles on the same car insurance policy can reduce the rates for all insured vehicles.
  • No Claims – Drivers with accident-free driving histories pay much less when compared to frequent claim filers.
  • Data Collection Discounts – Drivers that enable driving data submission to scrutinize vehicle usage remotely like Drivewise from Allstate or In-Drive from State Farm may get a rate reduction if they have good driving habits.
  • Discounts for Cautious Drivers – Safe drivers may receive a discount up to 45% for RX 300 insurance compared to rates paid by drivers with frequent claims.
  • Discounts for Government Workers – Active or retired federal employment can earn a discount up to 10% for RX 300 insurance with select insurance companies.
  • Resident Student – Any of your kids who live away from home to go to college without a vehicle on campus could get you a discount.
  • Anti-theft System – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently so companies will give you a small discount.
  • Senior Citizen Rates – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums for RX 300 insurance.

A little note about advertised discounts, many deductions do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. So when it seems like you can get free auto insurance, companies wouldn’t make money that way. Any qualifying discounts will definitely reduce your policy premiums.

A list of car insurance companies and a selection of discounts are included below.

  • American Family has discounts for good student, early bird, air bags, bundled insurance, good driver, and TimeAway discount.
  • State Farm may include discounts for passive restraint, multiple autos, multiple policy, accident-free, good driver, Drive Safe & Save, and good student.
  • 21st Century offers discounts for theft prevention, student driver, homeowners, 55 and older, air bags, automatic seat belts, and teen driver.
  • Travelers offers premium reductions for hybrid/electric vehicle, continuous insurance, IntelliDrive, student away at school, multi-car, and new car.
  • GEICO discounts include seat belt use, emergency military deployment, anti-lock brakes, defensive driver, multi-vehicle, air bags, and driver training.

Check with each company which discounts you qualify for. Discounts might not be offered in your area. To choose insurance companies with discount rates, click here to view.

Informed drivers know how to get insurance coverage at a discount

Lots of things are taken into consideration when premium rates are determined. Some are pretty understandable such as your driving history, although some other factors are not as apparent like your continuous coverage or your financial responsibility.

The items below are some of the factors insurance coverage companies consider when setting rates.

  • Vehicles with better crash test results are cheaper to insure – Cars with high safety ratings get lower rates. Highly rated vehicles protect occupants better and fewer injuries means lower claim amounts and lower rates for you.
  • More miles equals more premium – The more you drive each year the more you’ll pay to insure your vehicle. The majority of insurers rate vehicles based upon how you use the vehicle. Cars and trucks that have low annual miles qualify for better rates than those used for commuting. Ask your agent if your declarations sheet shows annual mileage. Having the wrong rating on your RX 300 is just wasting money.
  • How much liability coverage – A critical coverage on your policy, liability insurance will protect you when you are responsible for causing damage or personal injury in an accident. Liability provides for a legal defense to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so insureds should have plenty of protection for their assets.
  • Companies want multiple policies – Most larger insurance companies provide lower prices to buyers that purchase more than one policy, otherwise known as a multi-policy discount. Even if you qualify for this discount already, consumers should still compare other insurance prices to confirm you are receiving the best rates possible. Drivers may still find lower rates by buying insurance from more than one company.

How do I know if I need professional advice?

When buying proper insurance coverage for your vehicles, there isn’t really a perfect coverage plan. Every insured’s situation is different.

These are some specific questions might help in determining if you may require specific advice.

  • If my pet gets injured in an accident are they covered?
  • What is the ISO rating for a 2002 Lexus RX 300?
  • Are all vehicle passengers covered by medical payments coverage?
  • Should I sign the liability waiver when renting a car?
  • What if I don’t agree with a claim settlement offer?
  • Should I put collision coverage on all my vehicles?
  • When should I buy a commercial auto policy?
  • Should I waive the damage coverage when renting a car?
  • Do I need to file an SR-22 for a DUI in my state?

If you’re not sure about those questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form.

Will you really save $467 on car insurance?

Well-known car insurance companies like State Farm, GEICO and Progressive continually stream ads in print and on television. They all seem to make an identical promise that drivers can save some big amount just by switching to them. How does every company have lower policy pricing? You have to listen carefully.

All the different companies quote the lowest rates for a prospective insured that earns them a profit. For example, a profitable risk profile should be a female over age 40, owns a home, and has a short commute. Any customer that fits those parameters will get a cheap rate quote and therefore will save if they switch.

Insureds who do not meet these standards will see higher premium rates and the driver buying from a lower-cost company. The ads state “drivers who switch” not “everyone who quotes” can save as much as they claim. That’s why insurance companies can confidently claim big savings.

This really drives home the point why you absolutely need to quote coverage with many companies. It is impossible to predict with any certainty which company will have the best prices.

What insurance coverages do you need?

Having a good grasp of your policy helps when choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording.

Collision coverage protection

This coverage pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims such as colliding with a tree, sideswiping another vehicle, hitting a mailbox, damaging your car on a curb and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Medical expense insurance

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as pain medications, chiropractic care, nursing services, hospital visits and ambulance fees. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Comprehensive (Other than Collision)

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as damage from getting keyed, damage from flooding and damage from a tornado or hurricane. The most a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Auto liability

Liability coverage provides protection from damages or injuries you inflict on people or other property by causing an accident. It protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Another option is one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for claims like medical services, loss of income, court costs, repair costs for stationary objects and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Protection from uninsured/underinsured drivers

This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and also any damage incurred to your Lexus RX 300.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

You can do this!

People who switch companies do it for any number of reasons including not issuing a premium refund, unfair underwriting practices, lack of trust in their agent or even high rates after DUI convictions. No matter why you want to switch, finding a new company is less work than it seems.

Throughout this article, we presented many ideas to save on 2002 Lexus RX 300 insurance. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest priced insurance coverage comes from a lesser-known regional company.

The cheapest 2002 Lexus RX 300 insurance is definitely available both online as well as from independent agents, so you should compare both so you have a total pricing picture. Some insurance coverage companies don’t offer internet price quotes and most of the time these small insurance companies only sell coverage through independent agents.

For more information, feel free to browse the resources below: