Cheap 2004 Lexus GS 300 Car Insurance Cost

Searching for lower auto insurance rates for your Lexus GS 300? When looking for more affordable insurance, are you overwhelmed by the dozens of auto insurance companies that you can choose from? Many other drivers are as well. There are so many companies to choose from that it can be a challenge to compare prices.

It’s smart to do rate comparisons yearly because rates fluctuate regularly. Even if you think you had the lowest premium rates on GS 300 coverage a year ago there may be better deals available now. Forget anything you know (or think you know) about auto insurance because I’m going to teach you the things you must know in order to save on auto insurance.

Double check you’re getting these discounts

Insurance coverage is not inexpensive, but there’s a good chance there are discounts that many consumers don’t even know exist. Some trigger automatically at quote time, but occassionally some discounts must be inquired about in order for you to get them.

  • Accident Forgiveness Coverage – This one isn’t a discount, but companies like Liberty Mutual, Allstate and State Farm will let one accident slide before they charge you more for coverage if your claims history is clear for a certain period of time.
  • Discount for Good Grades – Being a good student may save as much as 25% on a insurance quote. The good student discount can last up to age 25.
  • Good Driver Discount – Insureds without accidents can save up to 40% or more on their insurance quote on GS 300 coverage as compared to drivers with claims.
  • Discounts for Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease on GS 300 coverage with select insurance companies.
  • Sign Early and Save – A few larger companies allow discounts for buying a policy before your current expiration date. The savings is around 10%.

Just know that many deductions do not apply to the overall cost of the policy. Most only cut the cost of specific coverages such as liability, collision or medical payments. So even though you would think it’s possible to get free car insurance, company stockholders wouldn’t be very happy.

A list of insurance coverage companies and a selection of discounts include:

  • State Farm offers discounts for safe vehicle, Steer Clear safe driver discount, defensive driving training, good student, and Drive Safe & Save.
  • GEICO discounts include daytime running lights, driver training, seat belt use, multi-vehicle, multi-policy, anti-theft, and five-year accident-free.
  • Liberty Mutual may offer discounts for new graduate, newly married, safety features, preferred payment discount, and multi-policy.
  • The Hartford offers discounts including good student, driver training, defensive driver, anti-theft, air bag, and bundle.
  • MetLife policyholders can earn discounts including multi-policy, good driver, good student, accident-free, defensive driver, and claim-free.
  • Progressive has savings for online signing, good student, continuous coverage, homeowner, multi-vehicle, online quote discount, and multi-policy.

It’s a good idea to ask each company the best way to save money. Some of the discounts discussed earlier may not apply to policyholders in your area. To see insurance coverage companies with the best discounts, click here to view.

How much is auto insurance?

Performing a rate comparison can be exhausting if you don’t understand the easiest way. You can waste a lot of time talking about coverages with insurance companies in your area, or you could save time and use the internet to get rates in a matter of minutes.

Most of the best insurance companies enroll in a system where insurance shoppers submit one quote, and each company then returns a price quote based on the submitted data. This saves time by eliminating form submissions for each company you want a rate for.

To compare rates using this form now click here to start a free quote.

One minor caviat to doing it this way is you cannot specify the companies to get pricing from. So if you prefer to pick from a list of companies for rate comparison, we put together a list of low cost auto insurance companies in your area. Click here for list of insurance companies.

Compare rates however you want, just be certain you are entering identical coverage information for each quote you get. If you compare different coverage information it’s not possible to truly determine the lowest rate. Even a minor difference in coverages may cause a big price difference. It’s important to know that comparing more rates from different companies helps you find more affordable insurance. Some insurance companies are not set up to provide prices over the internet, so it’s important to also get quotes on coverage from those companies, too.

Components of your Lexus GS 300 insurance prices

An important part of buying insurance is that you know some of the things that play a part in calculating the price you pay for auto insurance. If you understand what influences your rates, this helps enable you to make changes that may result in lower rates.

  • Frequent insurance claims will cost you – If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Companies generally give lower rates to policyholders who file claims infrequently. Your car insurance is intended for more catestrophic claims.
  • Responsible drivers pay lower prices – Drivers with clean records tend to pay less for car insurance as compared to careless drivers. Even a single chargable violation could increase your next policy renewal twenty percent or more. People who have multiple tickets like reckless driving, hit and run or driving under the influence may find that they have to to prove financial responsibility with their state’s licensing department in order to drive a vehicle legally.
  • How many coverages with the same company – Some insurance companies apply a discount to clients that buy multiple policies in the form of a multi-policy discount. Discounts can add up to 10 percent or more. Even if you’re getting this discount you still need to get quotes from other companies to guarantee you are still saving the most.
  • Deductibles are a factor – Insurance for physical damage, also called ‘full coverage’, insures against damage to your Lexus. Examples of some claims that would be covered are running into the backend of another car, collision with an animal, and having your car stolen. Comp and collision deductibles define how much you are required to spend if a covered claim is submitted. The more damage repair cost the insured has to pay upfront, the lower your rates will be on GS 300 coverage.
  • Job impacts auto insurance rates – Occupations such as fire fightersair traffic controllers and stock brokers are shown to have higher rates than the rest of us because of stressful work requirements and extremely grueling work hours. Other professions such as professors, athletes and the unemployed pay the least on GS 300 coverage.
  • Being married brings a discount – Your spouse may save some money on auto insurance. It means you’re more mature and responsible it has been statistically shown that drivers who are married are more cautious.
  • A auto insurance lapse can increase premiums – Driving any period of time without insurance is a big no-no and as a result your rates will increase for letting your insurance coverage expire. Not only will rates go up, the inability to provide proof of insurance can result in a hefty fine and possibly a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with your state department of motor vehicles.
  • Choose high crash test ratings and save – Safe vehicles can get you lower premiums. Vehicles engineered for safety reduce occupant injuries and fewer injuries translates into savings for insurance companies passed on to you as lower rates. If your Lexus is rated at least four stars on Safercar.gov you may qualify for a discount.

Special considerations

When buying the right insurance coverage for your vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

These are some specific questions may help highlight whether you might need an agent’s assistance.

  • Do I have coverage when making deliveries for my home business?
  • Is motorclub coverage worth it?
  • Can I afford to pay high deductible claims out of pocket?
  • What is UM/UIM insurance?
  • Am I covered if I wreck a rental car?
  • Should I waive the damage coverage when renting a car?
  • When do I need to add a new car to my policy?
  • How much liability coverage do I need in my state?
  • Am I insured when driving a different vehicle?
  • Am I covered if I drive in a foreign country?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form.

Insurance coverages and their meanings

Learning about specific coverages of insurance can be of help when determining the right coverages for your vehicles. Insurance terms can be impossible to understand and coverage can change by endorsement.

Uninsured or underinsured coverage

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your Lexus GS 300.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Liability

This coverage provides protection from injuries or damage you cause to a person or their property. This coverage protects you against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage pays for things such as bail bonds, attorney fees, structural damage, loss of income and repair costs for stationary objects. How much liability should you purchase? That is up to you, but consider buying higher limits if possible.

Auto collision coverage

Collision coverage covers damage to your GS 300 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for things such as scraping a guard rail, rolling your car, sustaining damage from a pot hole, backing into a parked car and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses like nursing services, EMT expenses, surgery, ambulance fees and funeral costs. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive protection

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like hitting a deer, vandalism, fire damage, a tree branch falling on your vehicle and hitting a bird. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

In Summary

Lower-priced insurance is available online in addition to local insurance agencies, so you need to shop insurance with both to have the best rate selection. There are still a few companies who do not provide rates over the internet and many times these small, regional companies only sell coverage through independent insurance agencies.

When shopping online for insurance, you should never skimp on coverage in order to save money. There have been many situations where drivers have reduced comprehensive coverage or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to buy a smart amount of coverage at the best price, but do not sacrifice coverage to save money.

Drivers switch companies for a variety of reasons including poor customer service, unfair underwriting practices, high prices and even questionable increases in premium. Whatever your reason, switching insurance companies can be pretty painless.

Additional information is available on the following sites: