Cheap 2019 Lexus LC 500 Insurance Quotes 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: Apr 28, 2024

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Are you sick and tired of wondering where the money will come from each month for insurance coverage? You are in the same boat as most other consumers. Due to the abundance of companies to choose from, it can be challenging to choose the lowest price insurance company.

You need to compare rates every six months because insurance coverage rates are usually higher with each renewal. Even if you think you had the best deal on LC 500 insurance a year ago there may be better deals available now. Block out anything you think you know about insurance coverage because you’re about to learn one of the best ways to reduce your cost while increasing coverage.

Finding the cheapest auto insurance coverage is easy if you know what you’re doing. If you have a current auto insurance policy or need a new policy, you can follow these tips to reduce the price you pay while maximizing coverage. Drivers just need to know the proper methods to compare prices on the web.

How your LC 500 insurance rates are determined

Lots of things are part of the calculation when quoting car insurance. A few of the factors are predictable like a motor vehicle report, although some other factors are not as apparent like your continuous coverage or how financially stable you are. Part of the insurance coverage buying process is learning some of the elements that aid in calculating the price you pay for insurance coverage. When you know what positively or negatively determines base rates, this empowers consumers to make smart changes that will entitle you to lower premium levels.

  • Save money with high credit – A driver’s credit history will be a significant factor in your rate calculation. If your credit can use some improvement, you could potentially save money when insuring your 2019 Lexus LC 500 by taking the time to improve your credit score. People that have excellent credit scores tend to be more responsible than drivers who have worse credit.
  • Save money by eliminating extra policy coverages – There are quite a few optional add-on coverages that may not really be needed on your insurance coverage policy. Coverages like roadside assistance, towing coverage, and extra equipment coverage may not be needed and are just wasting money. These coverages may sound good when discussing your needs, but if you’ve never needed them in the past consider taking them off your policy.
  • Poor driving habits means higher prices – Your driving citation history has a lot to do with how much you pay for insurance. Even one speeding ticket can increase the cost of insurance to the point where it’s not affordable. Drivers with clean records receive lower rates compared to bad drivers. Drivers unfortunate enough to have severe citations like DUI or willful reckless driving might be required by their state to complete a SR-22 with their state in order to drive a vehicle legally.
  • Safety ratings are a factor – Cars with high safety ratings are cheaper to insure. Safer cars help reduce the chance of injuries in an accident and lower rates of occupant injuries translates into savings for insurance companies passed on to you as lower rates. If your Lexus LC 500 earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.
  • Liability insurance limits on your policy – Liability coverage will protect you if ever you are found liable for causing personal injury or damage in an accident. It provides you with a defense in court starting from day one. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so do not skimp.
  • Vehicles with better crash test results that cut rates – Purchasing a vehicle with a theft deterrent system can get you a discount on your insurance coverage. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.
  • An active claims history can cost you – If you are a frequent claim filer, you should expect higher rates. Car insurance companies award better rates to drivers who do not rely on their insurance for small claims. Your car insurance is intended to be relied upon for major claims that would cause financial hardship.

Lower rates by qualifying for discounts

Some insurers don’t always publicize every discount available very clearly, so the following list contains some of the more common in addition to some of the lesser obvious discounts that you may qualify for.

  • Fewer Miles Equal More Savings – Maintaining low annual mileage could be rewarded with substantially lower rates.
  • Claim-Free Discount – Good drivers with no accidents pay less as compared to bad drivers.
  • Anti-theft Discount – Vehicles optioned with advanced anti-theft systems help deter theft so companies will give you a small discount.
  • Good Student Discount – Getting good grades can get you a discount of up to 25%. The good student discount can last until age 25.
  • Discount for Switching Early – Some companies provide a discount for buying a policy before your current coverage expires. This discount can save up to 10%.
  • Accident Forgiveness – This one is not really a discount per se, but some companies like Progressive and Allstate will turn a blind eye to one accident without raising rates if your claims history is clear for a set time period.
  • Multi-policy Discount – When you combine your auto and homeowners insurance with the same company you could earn a discount of at least 10 to 15 percent or more.
  • Discounts for Government Workers – Having worked for a branch of the government can earn a discount up to 10% on LC 500 insurance depending on your company.
  • Military Rewards – Being on active duty in the military could be rewarded with lower rates.

Discounts save money, but please remember that most credits do not apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as comprehensive or collision. Despite the appearance that all those discounts means the company will pay you, company stockholders wouldn’t be very happy. But any discount will lower your policy premium.

A list of companies and some of their more popular discounts include:

  • State Farm may include discounts for multiple policy, good driver, passive restraint, Drive Safe & Save, good student, and student away at school.
  • Progressive has savings for online quote discount, homeowner, good student, continuous coverage, online signing, multi-policy, and multi-vehicle.
  • Progressive policyholders can earn discounts including multi-vehicle, multi-policy, online signing, continuous coverage, and homeowner.
  • MetLife has discounts for multi-policy, defensive driver, accident-free, good student, good driver, claim-free
  • Farm Bureau discounts include safe driver, driver training, multi-policy, renewal discount, youthful driver, and good student.
  • GEICO offers premium reductions for federal employee, emergency military deployment, five-year accident-free, anti-theft, and driver training.
  • SAFECO offers discounts for bundle discounts, multi-car, teen safe driver, anti-lock brakes, anti-theft, drive less, and accident prevention training.

Before purchasing a policy, check with each company which discounts can lower your rates. Savings may not apply to policyholders in your state. To locate car insurance companies with the best car insurance discounts, enter your zip code here.

Save $447 a year! What?

Consumers can’t get away from ads for cheaper insurance from the likes of State Farm, GEICO and Progressive. All the companies try to convey promises about saving some big amount just by switching to their company.

Is it even possible that every company can cost less than your current company? This is how they do it.

Most companies have underwriting criteria for the driver that will not have excessive claims. One example of this type of insured should be a female over age 40, has never had a policy lapse, and has great credit. Someone who meets those qualifications will probably get the lowest premium rates and will most likely cut their rates if they switch.

Insureds who may not quite match the requirements will get higher premiums and the customer not buying. The trick companies use is to say “customers who switch” not “everybody who quotes” save money. That is how insurance companies can make claims that they all have the best rates.

This illustrates why you need to get as many free insurance coverage quotes as possible. It’s not possible to predict which company will have the best prices for your profile.

Insurance is unique, just like you

When it comes to buying the best insurance coverage, there really is no perfect coverage plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions could help you determine whether you may require specific advice.

  • Is my babysitter covered when using my vehicle?
  • Is upholstery damage covered by car insurance?
  • Should I carry comprehensive and collision coverage?
  • Does coverage extend to a rental car in a foreign country?
  • Does having multiple vehicles earn me a discount?
  • When does my teenage driver need to be added to my policy?
  • Am I covered when driving a rental car?
  • Can I afford low physical damage deductibles?
  • Does my medical payments coverage pay my health insurance deductible?

If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, fill out your zip code. It only takes a few minutes and you can get the answers you need.

Insurance coverage specifics

Learning about specific coverages of your insurance policy can be of help when determining the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and coverage can change by endorsement. Shown next are the usual coverages found on the average insurance policy.

Liability car insurance

Liability coverage protects you from damages or injuries you inflict on other people or property by causing an accident. This insurance protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like repair bills for other people’s vehicles, medical expenses and emergency aid. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive insurance

This coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like a broken windshield, hail damage, falling objects and vandalism. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as damage to your Lexus LC 500.

Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Coverage for medical expenses

Medical payments and Personal Injury Protection insurance pay for immediate expenses such as ambulance fees, surgery, chiropractic care and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

Collision coverage

This will pay to fix damage to your LC 500 from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as colliding with a tree, colliding with another moving vehicle and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible to bring the cost down.

Make an honest buck

We just showed you a lot of ways to reduce 2019 Lexus LC 500 insurance premium rates online. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. Drivers may discover the biggest savings come from a company that doesn’t do a lot of advertising. Smaller companies may cover specific market segments cheaper than their larger competitors like State Farm or Progressive.

When shopping online for car insurance, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are many occasions where an accident victim reduced collision coverage only to discover later they didn’t purchase enough coverage. The ultimate goal is to purchase a proper amount of coverage at the best possible price but still have enough coverage for asset protection.

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