How Much Does 2019 Lexus LS 500 Car Insurance Cost in 2024?

Trying to find the cheapest auto insurance rates for your Lexus LS 500? Tired of not being able to afford to pay auto insurance each month? You’re in the same situation as many other consumers. Since drivers have many companies to choose from, it can be difficult for people to locate the best insurer.

Finding affordable coverage is quite easy. If you are insured now or need a new policy, you can follow these tips to reduce the price you pay and possibly find even better coverage. Vehicle owners only need an understanding of the proper way to compare price quotes on the web.

Affordable car insurance rates with discounts

Auto insurance companies don’t always list every possible discount very well, so below is a list both well-publicized in addition to some of the lesser obvious credits available to you.

• Memberships – Belonging to a civic or occupational organization could qualify you for a break on your bill.
• Drive Safe and Save – Drivers who don’t get into accidents can pay as much as 50% less for LS 500 coverage compared to accident prone drivers.
• Auto/Life Discount – Select insurance companies reward you with a small discount if you purchase life insurance from them.
• Theft Prevention Discount – Cars equipped with anti-theft or alarm systems are stolen with less frequency and earn discounts up to 10% off your insurance coverage quote.
• Driving Data Discount – Drivers who agree to allow their insurance company to track driving habits by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive may see discounts as long as the data is positive.
• Paperless Signup – Certain companies will discount your bill up to fifty bucks for completing your application on the internet.
• Discount for Passive Restraints – Vehicles equipped with air bags or automatic seat belts can receive discounts up to 30%.
• Low Mileage Discounts – Driving fewer miles may enable drivers to earn lower car insurance rates due to less chance of an accident.

Keep in mind that most discount credits are not given to the overall cost of the policy. Some only reduce individual premiums such as medical payments or collision. Even though the math looks like having all the discounts means you get insurance for free, you won’t be that lucky.

A list of car insurance companies and the discounts they provide are detailed below.

• Progressive policyholders can earn discounts including homeowner, continuous coverage, online signing, multi-vehicle, multi-policy, good student, and online quote discount.
• AAA has discounts for good student, multi-car, education and occupation, AAA membership discount, and multi-policy.
• Farmers Insurance may have discounts that include multi-car, switch companies, bundle discounts, good student, mature driver, early shopping, and electronic funds transfer.
• GEICO includes discounts for driver training, anti-theft, anti-lock brakes, membership and employees, good student, and air bags.
• Esurance may include discounts for Switch & Save, defensive driver, good driver, Pac-12 alumni, DriveSense, and paid-in-full.
• SAFECO may offer discounts for multi-car, homeowner, bundle discounts, drive less, safe driver, anti-lock brakes, and teen safety rewards.
• State Farm offers premium reductions for multiple policy, student away at school, anti-theft, Steer Clear safe driver discount, accident-free, Drive Safe & Save, and safe vehicle.

It’s a good idea to ask each company or agent which discounts you qualify for. Some of the discounts discussed earlier may not apply in your area. To see a list of providers that offer the discounts shown above, enter your zip code here.

Lexus LS 500 insurance prices can be more affordable

Multiple criteria are taken into consideration when you get a price on insurance. A few of the factors are predictable like a motor vehicle report, although others are not as apparent like your vehicle usage or how safe your car is. It’s important that you understand some of the elements that come into play when calculating the price you pay for car insurance. When you know what positively or negatively influences your rates, this helps enable you to make changes that could help you find cheaper rates.

The list below includes some of the things used by your company to calculate your rate level.

• Deter theft and lower rates – Choosing to buy a car with anti-theft technology or alarm system can get you a discount on your car insurance. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent auto theft.
• Where you call home – Having an address in a small town is a positive aspect when trying to find low car insurance rates. Fewer drivers on the road means less chance of accidents as well as less vandalism and auto theft. People in densly populated areas have to deal with much more traffic and more severe claims. Longer commute distances can result in more accidents.
• Your job may affect car insurance rates – Occupations such as doctors, architects and accountants usually pay higher premium rates because of job stress and long work hours. Conversely, occupations like professors, students and homemakers get better rates for LS 500 coverage.
• Vehicles with better crash test results cost less to insure – Cars with five star safety ratings tend to have lower insurance rates. These vehicles protect occupants better and fewer injuries means less claims paid which can result in lower premiums. If the Lexus LS 500 scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.

Tailor your car insurance coverage to you

When it comes to choosing adequate coverage, there is no perfect coverage plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions could help you determine if your insurance needs would benefit from professional advice.

• Should I have a commercial auto policy?
• If my 2019 Lexus LS 500 is totaled, can I afford another vehicle?
• Where can I find high-risk insurance?
• Are rental cars covered under my policy?
• Are my friends covered when driving my car?
• Is my business laptop covered if it gets stolen from my vehicle?
• Are all vehicle passengers covered by medical payments coverage?
• When should I drop full coverage on my 2019 Lexus LS 500?
• When can my company non-renew my policy?
• Will my insurance pay for OEM parts?

If you can’t answer these questions but one or more may apply to you then you might want to talk to a licensed agent. To find an agent in your area, complete your zip code. It’s fast, doesn’t cost anything and can provide invaluable advice.

Insurance advertising tricks

Consumers can’t get away from ads for the lowest price insurance coverage by companies like Allstate, GEICO and Progressive. All the ads have a common claim about saving some big amount if you just switch your insurance coverage coverage to their company.

How do they all have lower policy pricing? Here is the trick they use.

Insurance companies can use profiling for the type of driver that earns them a profit. For instance, this type of risk profile may need to be a mature driver, has no driving citations, and has a high credit rating. Someone who matches those parameters will probably get cheap rates and is almost guaranteed to save when they switch companies.

Potential insureds who do not fit this stringent profile will have to pay more expensive rates which usually ends up with the customer not buying. The ads state “people who switch” but not “all drivers who get quotes” save that much. That’s why companies can truthfully lure you into getting a quote. Because of these techniques, it’s extremely important to do a rate comparison at every renewal. It’s just too difficult to predict with any certainty which company will have the best prices at this point in time.

Specific coverage details

Having a good grasp of your policy helps when choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and reading a policy is terribly boring. Listed below are the normal coverages found on the average auto insurance policy.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as hitting a bird, rock chips in glass and hitting a deer. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability coverages

Liability coverage protects you from damage or injury you incur to other people or property. It protects you from claims by other people, and doesn’t cover 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 liability limits of 50/100/50 which means a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged property.

Liability insurance covers things such as legal defense fees, medical services, medical expenses and structural damage. The amount of liability coverage you purchase is your choice, but buy as large an amount as possible.

Uninsured Motorist or Underinsured Motorist insurance

This provides protection when other motorists either have no liability insurance or not enough. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.

Collision insurance

Collision insurance pays for damage to your LS 500 resulting from a collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as scraping a guard rail, crashing into a building, hitting a mailbox and rolling your car. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to save money on collision insurance.

Insurance for medical payments

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like dental work, prosthetic devices, ambulance fees and funeral costs. They can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers both the driver and occupants and also covers any family member struck as a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage

More choices the merrier

When searching for the cheapest insurance coverage quotes, make sure you don’t skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut uninsured motorist or liability limits to discover at claim time that the small savings ended up costing them much more. Your aim should be to purchase a proper amount of coverage at the best cost while still protecting your assets.

Some companies may not offer internet price quotes and many times these regional carriers only sell through local independent agents. Budget-conscious 2019 Lexus LS 500 insurance can be found from both online companies and with local insurance agents, so you should compare both in order to have the best chance of saving money.