Lower Your 2003 Lexus IS 300 Car Insurance Cost

Looking for the cheapest insurance rates for your Lexus IS 300? Finding the cheapest insurance for a Lexus IS 300 could be difficult, but you can learn the following methods to find lower rates.

There are more efficient ways to shop for insurance and we’ll show you the best way to price shop coverage on a Lexus and obtain the best price possible from both online companies and local agents.

Shopping for the cheapest protection is easy if you know what you’re doing. If you have a current car insurance policy or need new coverage, you will benefit by learning to find better prices while maintaining coverages. Consumers only need an understanding of how to shop their coverage around on the web.

Ways to get auto insurance rate quotes

Finding a better price on auto insurance is actually quite simple. You just need to spend a few minutes on the computer comparing free insurance coverage quotes online with multiple companies. It’s super easy and can be done using a couple different methods.

  1. The most recommended method to find low rates is an all-inclusive rate comparison click to view form in new window. This form eliminates the need for boring form submissions for every prospective company. In just a few minutes this one form will get you rate comparisons instantly. Just one form and you’re done.
  2. A slightly less efficient method to get comparison quotes is going to the website for each individual company and go through the quote process again. For sake of this example, we’ll assume you want rates from USAA, Safeco and Allstate. In order to get each rate, you would have to take the time to go to each site and type in your information over and over, which is why most consumers use the first method. For a list of companies in your area, click here.

It’s up to you how you get prices quotes, just make sure you use nearly identical quote information with each company. If you use different coverage information it will be impossible to determine which rate is truly the best.

Don’t listen to company ads

Drivers get pounded daily by advertisements for the lowest price insurance coverage by 21st Century, Allstate and State Farm. All the companies convey the message that people will save if you move to their company.

How can each company give you a lower rate? Just pay attention to how they say it.

Many companies have strict underwriting profiles for the driver that will generate a profit. For instance, a driver they prefer might be described as between 30 and 50, has a clean driving record, and has a short commute. A driver that matches those criteria will probably get cheap premium rates and will also save money with a new company.

Drivers who don’t qualify for these standards will probably have to pay more expensive rates with the end result being the customer not purchasing. If you pay close attention to the ads, they say “drivers who switch” not “all people who quote” save that much money. That’s why insurance companies can confidently make those statements.

Because of the profiling, you really need to compare as many free insurance coverage quotes as you can. Because you cannot predict which insurance coverage company will be your best fit.

Insurance prices are influenced by these factors

The best way to find cheaper insurance is to take a look at some of the elements that are used to determine the price you pay for insurance. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may reward you with better insurance rates. Many factors are part of the calculation when you get your auto insurance bill. Some are obvious such as your driving history, although others are less apparent such as your marital status or your commute time.

The following are a few of the things insurance companies consider when setting your rate level.

  • Deter car thieves – Selecting a car model that has a built-in theft deterrent system can earn a premium discount. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent car theft.
  • Does insurance coverage cost less for gals? – Statistics have proven women are more cautious behind the wheel. That doesn’t necessarily mean that males are worse at driving than females. Females and males have fender benders at a similar rate, but the male of the species have costlier accidents. In addition to higher claims, males also receive more major tickets like reckless driving and DUI.
  • Urban residents pay more – Having an address in less populated areas of the country may provide you with better prices when trying to find low car insurance rates. Urban drivers tend to have more auto accidents and longer commutes to work. Lower population translates into fewer accident claims in addition to lower liability claims
  • High physical damage deductibles cost less – Your deductibles state the amount of money the insured will be required to pay before a claim is paid by your company. Insurance for physical damage, also known as collision and other-than-collision, protects your car from damage. Some examples of covered claims could be colliding with a stationary object, damage from fire, and having a roll-over accident. The higher the amount you have to pay, the better rate you will receive for IS 300 coverage.

Insurance policy discounts you can’t miss

Insurance is easily one of your largest bills, but there are discounts available that can help lower your rates. Some of these disounts will be visible at the time of quoting, but once in a while a discount must be specially asked for before being credited.

  • Multiple Vehicles – Buying coverage for multiple cars or trucks on the same insurance policy may reduce the rate for each vehicle.
  • ABS Brakes – Cars, trucks, and SUVs with ABS and/or traction control prevent accidents so you can save 10 percent or more.
  • Early Signing – A few larger companies allow discounts for renewing your policy before your current coverage expires. This discount can save up to 10%.
  • Government Employees – Employees or retirees of the government can earn a discount up to 10% for IS 300 coverage with a few insurance companies.
  • Homeowners Savings – Simply owning a home may trigger a policy discount on insurance due to the fact that maintaining a home demonstrates responsibility.
  • Include Life Insurance and Save – If the company offers life insurance, you could get a lower price if you buy some life insurance in addition to your auto policy.
  • Theft Deterent – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and that can save you a little bit as well.
  • Discounts for Seat Belt Usage – Forcing all vehicle occupants to wear their seat belts could save 15% on the premium charged for medical payments and/or PIP.

A little disclaimer on discounts, most discount credits are not given to the overall cost of the policy. A few only apply to the cost of specific coverages such as medical payments or collision. So when the math indicates adding up those discounts means a free policy, company stockholders wouldn’t be very happy. Any amount of discount will lower the amount you have to pay.

If you would like to see a list of insurers with discount insurance rates, follow this link.

Insurance agents can help

When buying the right insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

These are some specific questions can aid in determining whether or not you might need professional guidance.

  • I have good health insurance, so how much medical payments coverage do I need?
  • Is business property covered if stolen from my car?
  • Are all vehicle passengers covered by medical payments coverage?
  • Does my liability insurance cover pulling a trailer or camper?
  • Why do I need rental car insurance?
  • Am I covered by my spouse’s policy after a separation?
  • What is the rate difference between pleasure use and commuting?
  • Is my teen driver covered when they drive my company car?
  • Do I need replacement cost coverage?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It only takes a few minutes and can provide invaluable advice.

Car insurance coverage basics

Learning about specific coverages of car insurance aids in choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses such as prosthetic devices, pain medications, X-ray expenses, surgery and ambulance fees. They are used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Liability coverages

This coverage will cover damage or injury you incur to other’s property or people by causing an accident. This coverage protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims like pain and suffering, loss of income and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as high a limit as you can afford.

Comprehensive protection

Comprehensive insurance coverage 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 coverage protects against claims like damage from getting keyed, a broken windshield and hitting a deer. The highest amount your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as damage to your Lexus IS 300.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important. Normally these coverages are set the same as your liablity limits.

Collision coverage protection

This will pay to fix damage to your IS 300 resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as hitting a parking meter, hitting a mailbox and driving through your garage door. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to choose a higher deductible to bring the cost down.

Find Good Coverage for Less

While you’re price shopping online, it’s a bad idea to sacrifice coverage to reduce premiums. There are too many instances where an insured cut physical damage coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy a smart amount of coverage at the best possible price while still protecting your assets.

Drivers leave their current company for any number of reasons including policy non-renewal, questionable increases in premium, not issuing a premium refund or even being labeled a high risk driver. Regardless of your reason for switching companies, switching insurance coverage companies can be easier than you think.

Budget-conscious 2003 Lexus IS 300 insurance is available online as well as from insurance agents, and you should compare rates from both in order to have the best price selection to choose from. A few companies may not offer online price quotes and most of the time these small insurance companies only sell coverage through independent agencies.

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