Lower Your 2008 Lexus IS 350 Insurance Rates

Want cheaper auto insurance rates for your Lexus IS 350? No normal person rejoices having to buy auto insurance, especially when they know they could find better rates elsewhere. Since consumers have many companies and agents to choose from, it is very difficult to pick the most cost effective auto insurance provider.

Choosing the best insurance company for you is not rocket science. If you have a current car insurance policy or are looking for a new policy, you can use these techniques to reduce the price you pay while maintaining coverages. Vehicle owners only need to know the tricks to compare prices online.

Six things that determine your insurance prices

Lots of things are used in the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, but others are less obvious like your continuous coverage or how financially stable you are.Part of the insurance buying process is learning some of the factors that help calculate the level of your policy premiums. If you understand what influences your rates, this helps enable you to make changes that could result in lower premium levels.

  • Responsible drivers have lower prices – Attentive drivers pay less for auto insurance as compared to careless drivers. Just one driving citation can boost insurance rates twenty percent or more. Drivers who have dangerous violations like DUI, reckless driving or excessive speeding may be required to prove financial responsibility with their state in order to legally drive a vehicle.
  • lapses raise premiums – Not maintaining insurance is not a good idea and companies may charge more for letting your coverage have a gap. In addition to paying higher premiums, getting caught without coverage could earn you fines or a revoked license.
  • Annual mileage and car insurance prices – Driving more miles every year the more it will cost to insure it. Most companies calculate prices based upon how you use the vehicle. Cars and trucks that have low annual miles cost less to insure than those that get driven frequently. Improper usage on your IS 350 can cost quite a bit. Verify your insurance policy is rated on the correct usage, because improper ratings can cost you money.
  • Vehicles with better crash test results means cheaper insurance – Cars with high safety ratings tend to be cheaper to insure. Safer cars reduce injuries and fewer injuries translates directly to fewer claims and lower rates for you.
  • Your spouse saves you money – Having a wife or husband helps lower the price on your policy. Having a significant other may mean you are more mature and statistics show drivers who are married file infrequent claims.
  • Keep insurance claims to a minimum – If you file claims often, you can definitely plan on either policy cancellation or increased premiums. Companies give discounts to drivers who are not frequent claim filers. Auto insurance is meant to be used in the event of claims that pose a financial burden.

The most recommended method to compare rates utilizes the fact most larger insurance companies will pay a fee to give free rates quotes. The one thing you need to do is give the companies some data such as if you lease or own, if it has an anti-theft system, an estimate of your credit level, and your education level. That rating data is instantly sent to all major companies and you receive quotes immediately.

Don’t overlook these auto insurance discounts

Buying auto insurance is not cheap, but you might be missing out on some discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you quote, but less common discounts must be inquired about before they will apply.

  • Telematics Data – Policyholders that allow data collection to study where and when they drive by using a small device installed in their vehicle such as State Farm’s In-Drive might get better premium rates as long as the data is positive.
  • Life Insurance – Larger companies have a lower price if you buy life insurance.
  • Policy Bundle Discount – If you can combine your auto and homeowners policy with the same company you could save 10% to 20% off each policy.
  • Discount for Home Ownership – Owning your own home or condo can get you a discount because it is proof of financial responsibility.
  • New Vehicle Savings – Buying a new car model is cheaper because newer vehicles are generally safer.

Don’t be surprised that most of the big mark downs will not be given to all coverage premiums. Most only cut the cost of specific coverages such as collision or personal injury protection. So even though you would think it’s possible to get free car insurance, companies wouldn’t make money that way.

Large auto insurance companies and some of the premium reductions they offer are shown below.

  • State Farm offers discounts for anti-theft, good driver, multiple autos, multiple policy, and good student.
  • GEICO may offer discounts for military active duty, daytime running lights, multi-policy, anti-theft, federal employee, and multi-vehicle.
  • SAFECO policyholders can earn discounts including anti-theft, teen safe driver, bundle discounts, multi-car, and safe driver.
  • Farmers Insurance discounts include electronic funds transfer, business and professional, alternative fuel, teen driver, good student, and multi-car.
  • AAA has discounts for anti-theft, AAA membership discount, education and occupation, multi-car, good student, good driver, and pay-in-full.
  • USAA offers discounts including military installation, multi-vehicle, defensive driver, annual mileage, and family discount.

When comparing rates, check with each company which credits you are entitled to. Some of the discounts discussed earlier may not apply in your area. To find insurers that have a full spectrum of discounts, click this link.

When to get professional advice

When buying the right insurance coverage, there isn’t really a cookie cutter policy. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions may help you determine if your situation would benefit from professional advice.

  • Does my insurance cover a custom paint job?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I need added coverage for expensive stereo equipment?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I need motorclub coverage?
  • Does coverage extend to my business vehicle?
  • How can I find cheaper teen driver insurance?
  • Is business equipment covered while in my vehicle?

If you don’t know the answers to these questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies. It is quick, free and can help protect your family.

Auto insurance coverage breakdown

Knowing the specifics of your auto insurance policy aids in choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverages available from auto insurance companies.

Comprehensive coverage

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like a tree branch falling on your vehicle, damage from flooding, damage from getting keyed, theft and a broken windshield. The most your auto insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP kick in for bills for things like chiropractic care, surgery and pain medications. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Auto collision coverage

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as sustaining damage from a pot hole, hitting a parking meter, scraping a guard rail, driving through your garage door and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus IS 350.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Coverage for liability

Liability coverage protects you from damage that occurs to other people or property by causing an accident. It protects YOU against other people’s claims. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 100/300/100 which means a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against claims such as medical expenses, pain and suffering, repair bills for other people’s vehicles, repair costs for stationary objects and emergency aid. How much liability should you purchase? That is a personal decision, but consider buying as much as you can afford.

In conclusion

As you prepare to switch companies, it’s not a good idea to buy poor coverage just to save money. There are many occasions where drivers have reduced comprehensive coverage or liability limits and learned later they didn’t purchase enough coverage. Your objective should be to buy the best coverage you can find for the lowest cost and still be able to protect your assets.

You just learned some good ideas how you can save on 2008 Lexus IS 350 insurance. The key concept to understand is the more providers you compare, the better your chances of lowering your car insurance rates. You may even find the best price on insurance is with an unexpected company. Some small companies can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.

Discount 2008 Lexus IS 350 insurance can be found both online as well as from independent agents, so you need to quote insurance coverage with both to have the best selection. Some insurance providers do not offer the ability to get a quote online and usually these regional insurance providers sell through local independent agents.

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