2017 Lexus GS 350 Car Insurance Cost in 2024

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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 6, 2024

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Are you at wits end from paying out the nose each month for car insurance? Your situation is no different than many other drivers. Many auto insurance companies vie for your business, and it can be difficult to compare rates and uncover the absolute best rate

How insurance companies calculate Lexus GS 350 insurance rates

A large part of saving on car insurance is knowing some of the factors that play a part in calculating your policy premiums. When you understand what positively or negatively impacts your premiums, this helps enable you to make changes that could help you find big savings. Many things are part of the equation when premium rates are determined. Some are obvious like your driving record, although some other factors are less obvious such as your credit history or how financially stable you are.

The factors shown below are a partial list of the pieces that factor into rates.

  • Deter theft and pay less – Owning a car with anti-theft technology or alarm system can earn a premium discount. Advanced theft deterrents such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • Cheaper rates by combining – The majority of car insurance companies afford better rates to customers who carry more than one policy. It’s known as a multi-policy discount. The discount can be ten percent or more. Even if you qualify for this discount already, drivers will still want to shop around to ensure the best deal. There is a chance you can save even more than the discount by buying insurance from more than one company.
  • Your age impacts your costs – Beginning drivers tend to be more careless when driving therefore car insurance rates are much higher. Parents adding a young driver to your car insurance policy can be very expensive. More mature drivers tend to be more responsible, are lower risk to insure and tend to be get fewer driving tickets.
  • Liability coverage – Your car insurance policy’s liability coverage will provide protection if a court rules you are at fault for causing damage or personal injury in an accident. Your policy’s liability insurance provides for a legal defense which can cost a lot. Carrying liability coverage is mandatory and cheap compared to comp and collision, so drivers should buy more than the minimum limits required by law.

Don’t overlook these auto insurance discounts

The cost of insuring your cars can be expensive, but there could be available discounts that may help make it more affordable. Some trigger automatically at the time you complete a quote, but a few must be asked for before being credited.

  • Homeowners Discount – Owning your own home or condo may earn you a small savings because of the fact that having a home is proof that your finances are in order.
  • Good Student Discount – Excelling in school can save 20 to 25%. You can use this discount normally up to age 25.
  • Multiple Cars – Having several vehicles on the same auto insurance policy may reduce the rate for each vehicle.
  • Discount for Low Mileage – Driving less could earn discounted rates on garaged vehicles.
  • Federal Government Employee – Employees or retirees of the government could provide a small rate reduction on GS 350 coverage but check with your company.

Don’t be surprised that many deductions do not apply to all coverage premiums. Most only apply to individual premiums such as liability and collision coverage. If you do the math and it seems like adding up those discounts means a free policy, you’re out of luck.

Popular auto insurance companies and a selection of discounts can be read below.

  • GEICO has discounts for five-year accident-free, good student, driver training, defensive driver, and daytime running lights.
  • MetLife offers premium reductions for accident-free, claim-free, defensive driver, good student, and multi-policy.
  • Progressive policyholders can earn discounts including continuous coverage, online quote discount, multi-vehicle, online signing, and homeowner.
  • Travelers offers discounts including save driver, student away at school, new car, home ownership, IntelliDrive, and driver training.
  • SAFECO discounts include multi-car, teen safety rewards, teen safe driver, anti-theft, and accident prevention training.
  • AAA includes discounts for pay-in-full, anti-theft, good driver, multi-car, multi-policy, and AAA membership discount.

Check with each company how many discounts you can get. Discounts may not apply to policyholders in your area. To choose providers who offer online auto insurance quotes, enter your zip code here.

Do drivers who switch really save $471 a year?

Consumers constantly see and hear ads for the lowest price insurance by companies like GEICO, State Farm and Progressive. They all seem to tend to make the same promise that drivers will save a bundle if you switch your policy.

How does every company sell you cheaper insurance coverage? You have to listen carefully.

Insurance companies quote the lowest rates for the type of insured that earns them the most money. For instance, this type of risk profile might be described as over the age of 50, owns a home, and has excellent credit. Someone who fits those characteristics will most likely get cheap premium rates and have a good chance to save quite a bit of money when switching.

Consumers who don’t meet the “perfect” profile will have to pay higher rates and business not being written. The trick companies use is to say “drivers that switch” not “all people who quote” can save as much as they claim. That is how companies can truthfully make it sound like they have such great car insurance rates.

Because each company has a different risk profile, you should compare rate quotes every year. It is impossible to predict which company will have the best rates at this point in time.

When to get professional advice

When it comes to buying proper insurance coverage for your vehicles, there really is no “best” method to buy coverage. Each situation is unique and your policy should reflect that. These are some specific questions could help you determine if you could use an agent’s help.

  • What is no-fault insurance?
  • Am I covered when driving a rental car?
  • How much can I save by bundling my policies?
  • Do I have coverage when pulling a U-Haul trailer?
  • When do I need to add a new car to my policy?
  • Do all my vehicles need collision coverage?
  • What is roadside assistance coverage?
  • What is the difference between comprehensive and collision coverage?

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out your zip code. It only takes a few minutes and you can get the answers you need.

Insurance coverage options for a Lexus GS 350

Knowing the specifics of a insurance policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverages found on the average insurance policy.

Uninsured or underinsured coverage

This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits are identical to your policy’s liability coverage.

Collision coverage

This will pay to fix damage to your GS 350 caused by collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things such as hitting a mailbox, colliding with another moving vehicle, crashing into a building, driving through your garage door and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to increase the deductible in order to get cheaper collision rates.

Liability coverages

Liability insurance can cover damages or injuries you inflict on a person or their property. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Alternatively, you may have a combined limit which limits claims to one amount without having the split limit caps.

Liability coverage protects against things like loss of income, structural damage and court costs. The amount of liability coverage you purchase is a personal decision, but you should buy as large an amount as possible.

Medical expense coverage

Coverage for medical payments and/or PIP provide coverage for bills like doctor visits, funeral costs and hospital visits. They are used in conjunction with a health insurance program or if there is no health insurance coverage. Coverage applies to both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not universally available and may carry a deductible

Comprehensive protection

Comprehensive insurance covers damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like fire damage, damage from a tornado or hurricane, vandalism, damage from getting keyed and a broken windshield. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Be Smart and Buy Smart

There are still a few companies who don’t offer online price quotes and these small insurance companies sell through local independent agents. Low-cost 2017 Lexus GS 350 insurance can be bought online and also from your neighborhood agents, and you need to price shop both to get a complete price analysis.

When you buy auto insurance online, do not sacrifice coverage to reduce premiums. Too many times, an insured dropped liability limits or collision coverage and found out when filing a claim that the small savings ended up costing them much more. The proper strategy is to buy a smart amount of coverage for the lowest cost.

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