View 2004 Lexus IS 300 Insurance Rates

Trying to find lower insurance rates for your Lexus IS 300? If you’re trying to find more affordable insurance online, are you confused by the sheer number of insurance companies available to you? You have such a large number of options that it can quickly become a real hassle to lower your insurance rates.

If you currently have a car insurance policy, you stand a good chance to be able to reduce your rates substantially using these tips. This article will help you learn how to effectively get price quotes and some tricks to saving. Nevertheless, car owners can benefit by having an understanding of how the larger insurance companies market on the web because it can help you find the best coverage.

How to lower your insurance rates

Many things are considered when quoting car insurance. Some are pretty understandable such as your driving record, but other criteria are more obscure such as your credit history or how financially stable you are.

The itemized list below are a few of the things used by companies to determine prices.

  • Put fewer miles on your vehicle – Driving more miles annually the more you’ll pay to insure it. Almost all companies charge rates determined by how the vehicle is used. Cars and trucks not used for work or commuting receive lower rates than cars that get driven a lot. An incorrectly rated IS 300 can result in significantly higher rates. It’s a good idea to make sure your car insurance policy reflects the correct usage for each vehicle, because it can save money.
  • Only buy extra policy coverages you need – There are a lot of add-on coverages that you can buy if you aren’t careful. Coverage for things like vanishing deductibles, high-cost glass coverage, and motor club memberships are examples of these. These coverages may sound good when you first buy your policy, but your needs may have changed so think about removing them and cutting costs.
  • Single drivers may have higher prices – Walking down the aisle may save some money when shopping for car insurance. Marriage generally demonstrates drivers are more mature it has been statistically shown that married couples file fewer claims.
  • Do safer cars cost less to insure? – Safer cars tend to have better insurance rates. Safer cars protect occupants better and fewer injuries means less money paid by your insurance company which can result in lower premiums. If the Lexus IS 300 scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
  • Lower rates with a multi-policy discount – Most car insurance companies will award a discount to customers who have multiple policies with them, otherwise known as a multi-policy discount. Even if you qualify for this discount already, it’s in your best interest to compare other company rates to help guarantee you have the best rates. You may still be able to save even more than the discount even if you have your coverage with different companies
  • Responsible drivers pay less – A bad driving record has a lot to do with how much you pay for insurance. Even one citation may increase your cost by as much as twenty percent. Good drivers pay lower auto insurance prices compared to drivers with tickets. Drivers who have gotten careless tickets like reckless driving or DUI may find that they have to to file a proof of financial responsibility form (SR-22) with their state in order to legally drive a vehicle.

Low cost auto insurance quotes

When looking for low cost insurance coverage quotes, there are a couple ways to compare rate quotes from many available auto insurance companies in your state. The best way to comparison shop consists of obtaining rate quotes online. It’s really quite simple and can be done in several different ways.

  • One of the fastest ways to find low rates is a comparison rater form (click to open form in new window). This quick form saves time by eliminating boring form submissions to each individual auto insurance company. In just a few minutes this one form will get you price quotes from auto insurance companies with the best prices. This is perfect if you don’t have a lot of time.
  • A different way to analyze rates consists of going to each company website and repeat the quote process again and again. For examples sake, we’ll assume you want to get rates from Liberty Mutual, Esurance and Travelers. You would be required to take the time to go to each site and enter your policy data, which is why most consumers use the first method.

    For a list of companies in your area, click here.

  • If you have time to kill, the last method to price shop rates is to drive around to and from local insurance agencies. The fact that you can get quotes online eliminates this option unless you have a complicated situation and need the professional abilities that only an agent can give. It is possible with some companies compare the best prices online but purchase the actual policy in an agency.

Compare rates however you want, just be sure to compare identical coverage data for each price quote. If you have mixed coverages it will be nearly impossible to truly determine the lowest rate. Just a small difference in coverages can mean a large discrepancy in price. Just remember that more quotes gives you a better chance of getting more affordable insurance.

Can switching companies really save?

Big name companies like State Farm, GEICO and Progressive continually stream ads on television and other media. All the ads advertise the message about savings if you switch your auto insurance coverage to their company. It sounds good, but how can they all offer you a better deal?

Different companies quote their best rates for the type of driver that makes them money. A good example of a desirable insured could be married and over the age of 30, carries high limits, and insures a new vehicle. A propective insured who fits those characteristics may get the lowest prices as well as save a lot of money.

Potential insureds who don’t qualify for those standards will see higher premium rates which translates to the customer buying from someone else. If you pay close attention to the ads, they say “people who switch” but not “all drivers who get quotes” can get the lowest rates when switching. That is how insurance companies can confidently make those claims. Because of these techniques, you need to quote coverage with many companies. Because you cannot predict which auto insurance company will have the best rates at this point in time.

Double check you’re getting with these discounts

Companies that sell car insurance don’t necessarily list every disount available very clearly, so we break down a few of the more common as well as some of the hidden credits that you can use to lower your rates.

  • Student Driver Training – Reduce the cost of insurance for teen drivers by having them take driver’s ed class in school.
  • Passive Restraint Discount – Cars that have air bags and/or automatic seat belt systems may get savings of 25 to 30%.
  • Low Miles Discount – Driving fewer miles can earn discounted rates on garaged vehicles.
  • Anti-theft System – Anti-theft and alarm system equipped vehicles are stolen less frequently and earn discounts up to 10% off your insurance coverage quote.
  • Good Students Pay Less – This discount may save as much as 25% on a insurance coverage quote. The good student discount can last until age 25.
  • Accident Forgiveness – This one isn’t a discount, but companies like Allstate and Progressive will forgive one accident without the usual rate increase so long as you haven’t had any claims before the accident.
  • Bundled Policy Discount – If you combine your auto and home policies and insure them both with the same insurance company you will save as much as 10 to 15 percent.
  • Renewal Discounts – Some insurance companies provide a discount for buying a new policy before your current policy expires. This can save 10% or more.
  • Employee of Federal Government – Being employed by or retired from a federal job could qualify for a slight premium decrease on IS 300 coverage depending on your insurance provider.

Remember that most discount credits are not given to the entire policy premium. A few only apply to the cost of specific coverages such as comprehensive or collision. Just because you may think you would end up receiving a 100% discount, that’s just not realistic. But any discount will definitely reduce your overall premium however.

A partial list of companies that may have some of the discounts shown above are:

If you are trying to find inexpensive insurance coverage quotes, ask each company which credits you are entitled to. Some discounts listed above may not be offered in every state. If you would like to view companies who offer free insurance quotes, click this link.

Your situation helps dictate your coverage

When it comes to buying the best insurance coverage for your personal vehicles, there really is no cookie cutter policy. Every situation is different.

For example, these questions might point out if your situation could use an agent’s help.

  • Is my 2004 Lexus IS 300 covered for flood damage?
  • Are my tools covered if they get stolen from my vehicle?
  • How can I get my company to pay me more for my totalled car?
  • Does my insurance cover my expensive audio equipment?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Am I getting all the discounts available?
  • Is business property covered if stolen from my car?
  • When can my company non-renew my policy?

If it’s difficult to answer those questions then you might want to talk to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Specifics of your auto insurance policy

Knowing the specifics of your policy helps when choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your Lexus IS 300.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family.

Comprehensive coverages

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like theft, hail damage and damage from flooding. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability auto insurance

This coverage will cover injuries or damage you cause to other people or property that is your fault. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability insurance covers things like repair costs for stationary objects, bail bonds, pain and suffering and funeral expenses. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance pay for immediate expenses for things like pain medications, doctor visits, dental work and EMT expenses. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Collision insurance

This coverage covers damage to your IS 300 from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like hitting a mailbox, hitting a parking meter, damaging your car on a curb and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible to save money on collision insurance.

Make an honest buck

Drivers leave their current company for a number of reasons such as poor customer service, lack of trust in their agent, questionable increases in premium and even delays in responding to claim requests. No matter why you want to switch, switching companies is pretty simple and you could end up saving a buck or two.

When trying to cut insurance costs, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice liability limits or collision coverage only to find out that the small savings ended up costing them much more. The goal is to purchase plenty of coverage for the lowest cost and still be able to protect your assets.

In this article, we covered some good ideas how you can lower your 2004 Lexus IS 300 insurance rates. It’s most important to understand that the more times you quote, the better likelihood of getting cheap insurance coverage. Consumers may even find the best price on insurance is with a company that doesn’t do a lot of advertising.

Additional detailed information is located in the articles below: