2014 Lexus IS F Car Insurance Rates in 2024 – 5 Tips for Cheaper Quotes

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 3, 2024

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Searching for better insurance coverage rates for your Lexus IS F? Having to pay for expensive Lexus IS F insurance can bottom out your accounts and make it impossible to make ends meet. Since vehicle owners have many options when it comes to insurance coverage, it can be difficult for drivers to pick the most cost effective insurer.

It’s a great practice to do rate comparisons before your policy renews because insurance coverage prices tend to go up over time. If you had the lowest rates on IS F insurance a year ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance coverage because it’s time to teach you the easiest way to lower your annual insurance bill.

Affordable insurance rates with discounts

Some providers don’t always advertise all discounts very well, so the list below details both the well known in addition to some of the lesser obvious credits that you can use to lower your rates.

  • One Accident Forgiven – but companies like GEICO, State Farm, and Progressive will forgive one accident without the usual rate increase if your claims history is clear prior to the accident.
  • Good Grades Discount – Being a good student can be rewarded with saving of up to 25%. Many companies even apply the discount to college students until age 25.
  • Service Members Pay Less – Being on active deployment in the military could trigger a small discount.
  • Onboard Data Collection – Drivers that enable driving data collection to spy on driving patterns by using a small device installed in their vehicle such as Progressive’s Snapshot might get better premium rates if their driving habits are good.
  • Safety Course Discount – Taking time to complete a defensive driver class could cut 5% off your bill and easily pay for the cost of the class.

Keep in mind that some of the credits will not apply to the entire cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. Even though the math looks like adding up those discounts means a free policy, companies wouldn’t make money that way.

A few of the larger companies and their offered discounts can be found below.

  • State Farm may include discounts for student away at school, defensive driving training, good driver, safe vehicle, anti-theft, and multiple autos.
  • Progressive has savings for good student, homeowner, multi-vehicle, online quote discount, multi-policy, and online signing.
  • Progressive policyholders can earn discounts including online quote discount, multi-vehicle, multi-policy, online signing, and good student.
  • MetLife may have discounts that include good student, good driver, accident-free, multi-policy, claim-free, and defensive driver.
  • Farm Bureau offers premium reductions for driver training, 55 and retired, good student, youthful driver, renewal discount, multi-policy, and safe driver.
  • GEICO offers discounts including defensive driver, multi-vehicle, membership and employees, driver training, anti-theft, and emergency military deployment.
  • SAFECO may offer discounts for teen safe driver, bundle discounts, safe driver, anti-theft, teen safety rewards, homeowner, and drive less.

When comparing rates, check with every company which discounts you qualify for. Some discounts might not apply in every state. To choose providers that offer many of these discounts, enter your zip code here.

Tailor your auto insurance coverage to you

When choosing the right insurance coverage for your personal vehicles, there is no one size fits all plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that For example, these questions can aid in determining if you may require specific advice.

  • Will my vehicle be repaired with OEM or aftermarket parts?
  • How much liability coverage do I need in my state?
  • Do I pay less for low miles?
  • Am I insured when driving a different vehicle?
  • Does car insurance cover theft of personal property?
  • Do all my vehicles need collision coverage?

If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed agent. If you want to speak to an agent in your area, simply complete your zip code. It’s fast, doesn’t cost anything and can help protect your family.

Brand name doesn’t guarantee savings

Drivers constantly see and hear ads that claim the best premium rates from the likes of State Farm, GEICO and Progressive. They all try to convey promises that you’ll save big if you just switch your car insurance coverage to their company.

How does every car insurance company save you money?

Insurance providers are able to cherry pick for the type of driver that earns them the most money. For instance, this type of insured could possibly be between 25 and 40, insures multiple vehicles, and drives a vehicle with a low ISO rating. Any driver who meets those qualifications will most likely get cheap auto insurance rates and will cut their rates substantially.

People who cannot meet these standards will see a higher rate which results in the customer not buying. The trick companies use is to say “drivers who switch” but not “everyone who gets a quote” can get the lowest rates when switching. This is how insurance companies can confidently state the savings.

Because each company has a different risk profile, you need to quote coverage with many companies. It is impossible to guess which company will have the lowest rates for your situation.

Insurance coverages and their meanings

Learning about specific coverages of insurance aids in choosing the right coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Shown next are the usual coverages found on the average insurance policy.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for bills for things like doctor visits, prosthetic devices and ambulance fees. They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Liability

This coverage provides protection from damage that occurs to other’s property or people in an accident. It protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and $25,000 of coverage for damaged property. Another option is one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims such as legal defense fees, court costs, loss of income, attorney fees and emergency aid. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Collision coverage

This coverage will pay to fix damage to your IS F resulting from a collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like scraping a guard rail, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Comprehensive coverage

This pays for damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things such as damage from getting keyed, damage from flooding, hitting a deer and fire damage. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Be a Smart Shopper

Cost effective 2014 Lexus IS F insurance is available online as well as from insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance providers may not provide the ability to get quotes online and most of the time these small insurance companies provide coverage only through local independent agencies.

When trying to cut insurance costs, it’s a bad idea to skimp on critical coverages to save a buck or two. There are a lot of situations where an insured dropped full coverage only to regret at claim time that they should have had better coverage. Your goal should be to purchase plenty of coverage at the best cost while still protecting your assets.

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