How Much Does 2017 Lexus IS 350 Insurance Cost?

Trying to find better insurance rates for your Lexus IS 350? High-priced insurance can eat up your funds and make it tough to pay other bills. Many insurers compete for your insurance dollar, and because of this it can be hard to compare insurers to discover the definitive best price available.

Lower your insurance coverage rates with discounts

Car insurance is not cheap, but there could be available discounts that could help you make your next renewal payment. Most are applied at the time you complete a quote, but a few need to be specifically requested in order for you to get them. If you don’t get every credit available, you are paying more than you should be.

  • Low Mileage Discounts – Driving fewer miles could qualify for discounted insurance coveragerates on garaged vehicles.
  • Passive Restraints and Air Bags – Options like air bags or motorized seat belts may qualify for discounts of 25 to 30%.
  • Own a Home and Save – Simply owning a home can earn you a little savings because of the fact that having a home means you have a higher level of financial diligence.
  • Renewal Discounts – Select larger companies give a discount for buying a policy prior to the expiration date on your current policy. It can save you around 10%.
  • Clubs and Organizations – Having an affiliation with specific professional or occupational memberships or organizations is a good way to get lower rates on your next renewal.

As a sidenote, many deductions do not apply to the entire cost. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like you would end up receiving a 100% discount, companies wouldn’t make money that way. Any amount of discount will help lower your overall bill.

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

When comparing rates, check with each company which discounts can lower your rates. All car insurance discounts might not be offered on policies in your state.

You are unique and your insurance coverage should be too

When it comes to buying proper insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Every situation is different so this has to be addressed. For example, these questions might help in determining whether or not you may require specific advice.

  • How much liability insurance is required?
  • Can I make deliveries for my home business?
  • Am I covered if I drive in a foreign country?
  • Can my teen driver be rated on a liability-only vehicle?
  • How much liability do I need to cover my assets?
  • Are there companies who specialize in insuring high-risk drivers?
  • How do I buy GAP insurance?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.

Smaller companies may have the best rates

Consumers can’t get away from ads that claim the best prices from companies such as Allstate, GEICO and Progressive. They all advertise claims of big savings if you move your coverage to them.

How is it plausible that every one can charge lower premium rates? It’s all in the numbers.

Insurance providers have an ideal profile for the type of insured that will generate a profit. A good example of this type of risk profile may need to be between the ages of 40 and 55, has never had a policy lapse, and has great credit. A propective insured who fits that profile will get very good rates and will also cut their rates if they switch.

Potential customers who don’t meet the ideal profile will be quoted a higher premium which leads to the customer not buying. The trick is to say “people that switch” not “all people who quote” save money. That’s why companies can truthfully make those statements.

Because each company has a different risk profile, you really need to compare many company’s car insurance rates. It is just not possible to predict the company that will have the best rates.

Parts of your insurance policy

Knowing the specifics of a insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Below you’ll find the normal coverages found on most insurance policies.

Coverage for medical expenses – Med pay and PIP coverage pay for short-term medical expenses such as surgery, EMT expenses and prosthetic devices. They are utilized in addition to your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Coverage for uninsured or underinsured drivers – This gives you protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and damage to your Lexus IS 350.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Liability insurance – Liability coverage protects you from injuries or damage you cause to people or other property that is your fault. It protects YOU against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for claims such as pain and suffering, repair bills for other people’s vehicles, attorney fees, funeral expenses and emergency aid. How much liability should you purchase? That is up to you, but buy higher limits if possible.

Comprehensive insurance – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as fire damage, a broken windshield, rock chips in glass and falling objects. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision coverage – This coverage covers damage to your IS 350 resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as colliding with another moving vehicle, colliding with a tree and sideswiping another vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.

In conclusion

We just presented some good ideas how to get a better price on 2017 Lexus IS 350 insurance. The most important thing to understand is the more companies you get auto insurance rates for, the better likelihood of getting affordable car insurance. You may even find the lowest rates come from the smaller companies. Some small companies may have significantly lower auto insurance rates on certain market segments as compared to the big name companies such as Allstate, GEICO and Progressive.

There are still a few companies who may not offer rate quotes online and many times these regional carriers only sell coverage through independent insurance agents. Low-cost 2017 Lexus IS 350 insurance is attainable both online in addition to local insurance agencies, so compare prices from both to have the best chance of lowering rates.

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