How Much Does 2007 Lexus ES 350 Insurance Cost?

Trying to find lower insurance rates for your Lexus ES 350? If you’re trying to find cheaper insurance online, are you confused by the crazy number of insurance companies in your area? You have so many companies to choose from that it can easily become hard work to locate the lowest insurance rates.

If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using these tips. Pricing the lowest cost coverage is simple if you know the tricks. Although car owners should learn the way insurance companies market insurance on the web.

Do you qualify for discounts?

The cost of insuring your cars can be expensive, but you might find some hidden discounts to help offset the cost. Some discounts will apply when you quote, but a few must be specially asked for before you will receive the discount. If you’re not getting every credit you qualify for, you’re just leaving money on the table.

  • Renewal Discounts – Some insurance companies provide a discount for buying a policy before your current expiration date. The savings is around 10%.
  • Organization Discounts – Joining qualifying employment or professional organizations could qualify you for a break when getting a insurance quote.
  • Early Payment Discounts – If you can afford to pay the entire bill rather than spreading payments over time you may have a lower total premium amount.
  • Bundled Policy Discount – If you combine your auto and homeowners policies with the same company you may earn at least 10% off all policies.
  • Accident-Free Discounts – Drivers with accident-free driving histories pay much less when compared with drivers with a long claim history.
  • Cautious Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates on ES 350 insurance than their less cautious counterparts.
  • Include Life Insurance and Save – Some auto insurance companies give a lower premium rate if you buy some life insurance in addition to your auto policy.
  • Savings for New Vehicles – Buying a new car model can save you some money because newer models keep occupants safer.
  • Seat Belt Discounts – Buckling up and requiring all passengers to buckle their seat belts can save up to 15% on medical payment and PIP coverage.

Discounts lower rates, but some credits don’t apply to the entire policy premium. Most only apply to the cost of specific coverages such as comp or med pay. Just because you may think you can get free auto insurance, insurance companies wouldn’t stay in business.

Companies and their offered discounts are:

  • The Hartford offers premium reductions for air bag, vehicle fuel type, anti-theft, driver training, and good student.
  • American Family has discounts for bundled insurance, Steer into Savings, mySafetyValet, TimeAway discount, and multi-vehicle.
  • Progressive policyholders can earn discounts including online quote discount, continuous coverage, multi-vehicle, multi-policy, online signing, homeowner, and good student.
  • Travelers offers discounts for save driver, multi-car, home ownership, new car, IntelliDrive, and continuous insurance.
  • Farmers Insurance may offer discounts for electronic funds transfer, mature driver, business and professional, distant student, good student, youthful driver, and homeowner.
  • USAA may include discounts for family discount, driver training, military installation, new vehicle, vehicle storage, safe driver, and defensive driver.
  • Liberty Mutual includes discounts for newly retired, good student, exclusive group savings, new move discount, newly married, new graduate, and multi-policy.

When getting a coverage quote, ask each insurance company which discounts they offer. Some discounts listed above might not apply in your area. If you would like to see a list of companies that offer multiple discounts, follow this link.

Smart consumers save on insurance

When buying car insurance it’s important to understand the rating factors that aid in calculating car insurance rates. When consumers understand what influences your rates, this allows you to make good choices that may result in much lower annual insurance costs. Lots of factors are part of the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving history, but other criteria are less apparent such as your marital status or how safe your car is.

The itemized list below are a partial list of the pieces used by insurance companies to determine prices.

  • Lower rates with GPS tracking and theft deterrents – Buying a car with an alarm system can get you a discount on your car insurance. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent your vehicle from being stolen.
  • Get better rates if married – Getting married can actually save you money when buying car insurance. Having a significant other translates into being less irresponsible and it’s proven that drivers who are married are more cautious.
  • How do annual miles impact rates? – The more miles you rack up on your Lexus in a year’s time the more you’ll pay to insure your vehicle. A lot of companies rate vehicles determined by how the vehicle is used. Cars and trucks that have low annual miles get more affordable rates than cars that get driven a lot. It’s a smart idea to ensure your declarations sheet is rated on the proper vehicle usage, because it can save money. An improperly rated ES 350 can result in significantly higher rates.
  • Premiums increase with driving tickets – Having just one ticket may increase your cost by as much as thirty percent. Careful drivers get better prices than their less careful counterparts. Drivers who get dangerous tickets like DUI or reckless driving may face state-mandated requirements to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to prevent a license revocation.
  • Premiums drop with age – Mature drivers tend to be more responsible, tend to cause fewer accidents , and are generally more financially stable.Teen drivers have a tendency to be inattentive and easily distracted when behind the wheel and because of this, their car insurance rates are much higher.
  • Your location is a factor – Having an address in less populated areas of the country has definite advantages when insuring your vehicles. Drivers in populated areas regularly have more traffic problems and more severe claims. Fewer drivers translates into fewer accident claims in addition to lower liability claims
  • Too many claims and you’ll pay more – If you tend to file frequent claims, you can pretty much guarantee higher rates. Car insurance companies generally give cheaper rates to people who do not file claims often. Your car insurance is intended to be relied upon for the large, substantial claims.
  • Don’t let your coverage lapse – Having a lapse in insurance coverage is a quick way to increase your car insurance rates. And not only will insurance be more expensive, getting caught without coverage could result in a license revocation or jail time.

Don’t assume everyone needs the same auto insurance coverage

When it comes to buying coverage, there isn’t really a “perfect” insurance plan. Every situation is different.

For instance, these questions may help highlight if you could use an agent’s help.

  • Can I make deliveries for my home business?
  • Am I covered when pulling a rental trailer?
  • What can I do if my company denied a claim?
  • How can I get high-risk coverage after a DUI?
  • Are there companies who specialize in insuring high-risk drivers?
  • If I drive on a suspended license am I covered?
  • Are split liability limits better than a combined single limit?

If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.

Insurance coverage ads are enticing

Insurance coverage companies such as State Farm, GEICO and Progressive seem to constantly run television and radio advertisements. They all say the same thing about saving some big amount if you switch to their company. How can each company charge lower premium rates? This is the trick they use.

All the different companies quote their best rates for the type of customer that will generate a profit. A good example of this type of risk profile might have to be married and over the age of 30, has no driving citations, and drives less than 10,000 miles a year. A propective insured who matches those parameters receives the best premium rates as well as cut their rates if they switch.

Potential customers who do not match these stringent criteria may receive a higher premium with the end result being the customer not purchasing. If you pay attention, the ads say “drivers who switch” not “everyone who quotes” can save as much as they claim. That’s why insurance companies can confidently make it sound like they have such great car insurance rates. Because of these techniques, you absolutely need to compare price quotes frequently. It’s impossible to know with any certainty which company will have the best rates at this point in time.

Coverages available on your auto insurance policy

Having a good grasp of auto insurance can help you determine appropriate coverage and the correct deductibles and limits. Auto insurance terms can be difficult to understand and nobody wants to actually read their policy.

Comprehensive insurance

Comprehensive insurance pays for damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as vandalism, hitting a bird, rock chips in glass, hail damage and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Lexus ES 350.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.

Collision coverage protection

This will pay to fix damage to your ES 350 resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things such as rolling your car, backing into a parked car, colliding with a tree and crashing into a building. This coverage can be expensive, so consider dropping it from older vehicles. You can also increase the deductible to bring the cost down.

Liability car insurance

Liability coverage will cover damage that occurs to other’s property or people by causing an accident. This insurance protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability coverage protects against things such as repair costs for stationary objects, structural damage, bail bonds, loss of income and pain and suffering. How much liability should you purchase? That is a personal decision, but you should buy as high a limit as you can afford.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage pay for expenses for funeral costs, ambulance fees and surgery. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Best coverage at the best price

Insureds switch companies for many reasons like high prices, questionable increases in premium, not issuing a premium refund and delays in paying claims. No matter why you want to switch, switching companies is easier than you think.

Some insurance companies don’t offer online price quotes and many times these regional carriers only sell through independent agencies. Budget-conscious 2007 Lexus ES 350 insurance is attainable online as well as from insurance agents, so you need to compare both to have the best chance of lowering rates.

As you shop your coverage around, never buy less coverage just to save a little money. In many instances, an accident victim reduced uninsured motorist or liability limits to discover at claim time that they should have had better coverage. Your focus should be to buy the best coverage you can find at the best price.

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