Cheaper 2016 Lexus IS 300 Car Insurance Cost

Looking for the cheapest auto insurance rates for your Lexus IS 300? Are you drained from trying to scrape together enough money to buy auto insurance? Your situation is no different than millions of other vehicle owners. Companies like State Farm, Progressive and GEICO constantly blast consumers with catchy ads and it is challenging if not impossible to sift through the bull and effectively compare rates to find the best deal.

Smart consumers take time to compare prices occasionally due to the fact that insurance prices tend to go up over time. If you had the best rates on IS 300 insurance a couple years back you can probably find a better premium rate now. Forget all the misinformation about auto insurance because you’re about to find out the proper way to lower your rates without sacrificing coverage.

First Step: Get free insurance quotes

Finding a lower price on 2016 Lexus IS 300 insurance can be surprisingly simple. You just have to spend a few minutes to compare rate quotes to see which company has inexpensive car insurance quotes. It is quite easy and can be accomplished by following the guidelines below.

If you’re in a hurry, the quickest way to get the best comparison quotes would be an industry-wide quote request form click to view form in new window. This quick form eliminates the need for separate quotation requests for each price estimate. A single, simple form gets you price quotes from insurance companies with the best prices.

A more time consuming way to compare rate quotes requires a trip to each individual company website to request a price quote. For example, we’ll assume you want to compare Auto-Owners, Farmers and State Farm. To get each rate you have to spend time going to each site individually to enter the same coverage data repeatedly, which explains why we recommend starting with the first method. To view a list of companies in your area, click here.

Whichever method you choose, do your best to use nearly identical information for each price quote. If you use different limits and deductibles on each one you will not be able to find the best deal for your Lexus IS 300.

Misconceptions in car insurance advertisements

Consumers can’t get away from ads for the lowest price car insurance from the likes of Allstate and Progressive. They all seem to convey the message about how much you will save if you get a free car insurance quote and switch your policy.

Is it even possible that every company can charge less that you’re paying now?

Insurance providers have a preferred profile for the type of driver that earns them a profit. A good example of a desirable insured might be described as over the age of 45, has a clear driving record, and has excellent credit. Any driver that fits those parameters will get very good rates and will also pay quite a bit less when switching companies.

Potential insureds who don’t measure up to this ideal profile may be forced to pay a higher premium which leads to the customer buying from someone else. The ads say “customers that switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way insurance companies can state the savings.

That is why you should get a wide range of price quotes. It’s not possible to predict with any certainty which company will provide the lowest auto insurance rates.

What affects Lexus IS 300 insurance premiums?

Part of the insurance coverage buying process is learning a few of the rating criteria that are used to determine the level of your policy premiums. If you have some idea of what determines premiums, this empowers consumers to make smart changes that could help you find lower rates.

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

  • What are good liability limits? – The liability section of your policy provides coverage if ever you are found to be at fault for damages caused by your negligence. This coverage provides legal defense which can be incredibly expensive. Liability insurance is pretty cheap compared to physical damage coverage, so drivers should carry high limits.
  • Teenage drivers pay high rates – Older insureds are viewed as being more responsible, tend to cause fewer accidents and are safer drivers.Inexperience drivers are proven to be careless and easily distracted when driving with friends so insurance coverage rates are higher.
  • Does your occupation raise your premiums? – Occupational choices like military generals, social workers and emergency personnel generally have higher rates than average in part from job stress and long work hours. On the other hand, occupations like actors, students and the unemployed pay lower than average rates on IS 300 insurance.
  • Rates for guys may be higher – Over the last 30 years, statistics show females are less aggressive when driving. The data does not necessarily mean that females are better at driving than males. Men and women are in fender benders at about the same rate, but the males get into accidents with more damage. In addition to higher claims, males also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
  • Where you reside factors in – Being located in a small town is a good thing if you are looking for the lowest rates. Fewer people means reduced accidents and lower theft and vandalism rates. People in densly populated areas regularly have much more traffic and a longer drive to work. Higher commute times translates into higher accident risk.

Take policy discounts and save

Insurance coverage is not inexpensive, but discounts can save money and there are some available that can drop the cost substantially. Certain reductions will be credited when you get a quote, but occassionally some discounts must be manually applied prior to getting the savings.

  • Driver Training Discounts – Passing a course in safe driver may get you a small discount if you qualify.
  • Professional Organizations – Being a member of a civic or occupational organization may earn a discount when shopping for insurance coverage.
  • Auto/Life Discount – Not all companies offer life insurance, but some may give you a discount if you purchase auto and life insurance together.
  • Low Mileage Discounts – Low mileage vehicles may allow you to get discounted insurance coveragerates on garaged vehicles.
  • Discounts for Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates on IS 300 insurance than drivers with accident claims.
  • Seat Belt Discounts – Buckling up and requiring all passengers to buckle up before driving could save 15% on medical payment and PIP coverage.
  • Discount for Swiching Early – Some companies give discounts for switching policies prior to your current policy expiration. It can save you around 10%.
  • Smart Student Discounts – This discount could provide a savings of up to 20% or more. The good student discount can last until age 25.
  • Employee of Federal Government – Having worked for a branch of the government could cut as much as 10% off on IS 300 insurance with a few insurance coverage companies.
  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and will save you 10% or more.

While discounts sound great, it’s important to understand that many deductions do not apply the the whole policy. Some only apply to specific coverage prices like liability and collision coverage. So even though they make it sound like it’s possible to get free car insurance, you won’t be that lucky.

Some of the larger companies that may include many of the previously listed discounts include:

Before you buy a policy, ask all companies you are considering which discounts you may be entitled to. All car insurance discounts might not be offered on policies in your area. For a list of providers that offer some of these discounts, click here.

Which policy gives me the best coverage?

When it comes to choosing proper insurance coverage, there really is not a “perfect” insurance plan. Each situation is unique and your policy should reflect that. Here are some questions about coverages that could help you determine if your situation would benefit from an agent’s advice.

  • When should my teen driver be added to my policy?
  • How high should my uninsured/underinsured coverage be in my state?
  • Should I drop comprehensive coverage on older vehicles?
  • I don’t drive much so do I pay less?
  • Where can I find DUI or SR-22 insurance?
  • When should I buy a commercial auto policy?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with an agent. To find an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area. It’s fast, doesn’t cost anything and can help protect your family.

Car insurance 101

Learning about specific coverages of your insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages offered by insurance companies.

Comprehensive protection

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like a broken windshield, a tree branch falling on your vehicle, hitting a bird, theft and hail damage. The maximum amount your insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses for ambulance fees, X-ray expenses, pain medications, doctor visits and hospital visits. They are used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state and may carry a deductible

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and also any damage incurred to your 2016 Lexus IS 300.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Liability coverages

Liability insurance will cover damage or injury you incur to other people or property in an accident. It protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things such as repair bills for other people’s vehicles, loss of income and court costs. How much liability should you purchase? That is your choice, but buy as much as you can afford.

Coverage for collisions

This pays for damage to your IS 300 caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as crashing into a ditch, backing into a parked car, sideswiping another vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Power to the consumer

When getting car insurance quotes online, it’s not a good idea to reduce coverage to reduce premium. In many instances, drivers have reduced uninsured motorist or liability limits only to regret that the savings was not a smart move. Your goal should be to buy the best coverage you can find at the best possible price.

Cheaper 2016 Lexus IS 300 insurance can be purchased both online in addition to local insurance agencies, so you need to quote car insurance with both in order to have the best chance of saving money. There are still a few companies who may not provide online quoting and many times these regional insurance providers work with independent agencies.

More resources