How Much Does 2020 Lexus GS 350 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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Trying to find the cheapest car insurance rates for your Lexus GS 350? Searching for the cheapest insurance for a Lexus GS 350 can normally be a lot of work, but you can use these tips and make it easy.

There is a better way to compare car insurance rates so we’re going to tell you the best way to price shop coverage for a Lexus and obtain the best price possible from local insurance agents and online providers.

How to compare free insurance quotes

Shopping for lower insurance rates can be a lot of work if you don’t know the most efficient way to do it. You could spend the better part of a day talking about coverages with agents in your area, or you could use online quotes to accomplish the same thing much quicker.

Most major companies participate in an industry program where insurance shoppers only type in their quote data once, and each participating company can give them a price based on that data. This system prevents you from having to do quotation requests for each company.

To find out what other companies charge enter your zip code here.

The single downside to using this type of system is that you can’t choose which insurance companies to get quotes from. So if you prefer to pick specific providers to compare rates, we have a listing of insurance companies in your area. Click to enter zip code.

Whichever method you choose, make darn sure you compare apples-to-apples coverages with every price quote. If you use different coverage information it will be next to impossible to determine which company has the best rates.

Affordable insurance rates with discounts

Some insurers don’t list their entire list of discounts very well, so we researched both the well known as well as the least known credits available to you.

  • Own a Home and Save – Just being a homeowner can earn you a little savings because of the fact that having a home requires a higher level of personal finance.
  • No Accidents – Drivers with accident-free driving histories can save substantially in comparison with frequent claim filers.
  • Pay Upfront and Save – If you pay your entire premium ahead of time as opposed to paying monthly you can avoid the installment charge.
  • Federal Employees – Active or retired federal employment could cut as much as 10% off for GS 350 insurance but check with your company.
  • Smart Student Discounts – A discount for being a good student may save you up to 25%. Most companies allow this discount until age 25.

As a footnote on discounts, some credits don’t apply to the entire policy premium. Most only apply to the cost of specific coverages such as comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

Insurance companies that may have some of the above discounts possibly include:

  • State Farm
  • American Family
  • AAA
  • Mercury Insurance
  • Farmers Insurance
  • Progressive

If you need cheap car insurance quotes, ask every prospective company the best way to save money. Some discounts listed above may not be available in your area. To view insurance companies that have a full spectrum of discounts, enter your zip code here.

What determines Lexus GS 350 insurance premiums?

Multiple criteria are part of the calculation when you get your auto insurance bill. Most are fairly basic such as your driving record, but other criteria are more obscure like where you live or how financially stable you are.

The following are just a few of the factors that factor into your rate level.

  • Occupation and insurance rates – Did you know your career choice can influence rates? Jobs such as doctors, police officers and medical professionals generally pay higher average rates in part from intense work-related stress and lots of time spent at work. On the flip side, careers like scientists, students and the unemployed have lower than average premiums for GS 350 insurance.
  • High credit rating translates to low premiums – An insured’s credit rating is likely to be a major factor in determining what you pay. If your credit score could use some work, you may save money insuring your 2020 Lexus GS 350 if you improve your credit rating. People with high credit scores tend to file fewer claims and have better driving records as compared to drivers with poor credit scores.
  • Don’t buy extra coverages you don’t need – There are a lot of add-on coverages that you can buy if you aren’t careful. Coverages like rental car coverage, better glass coverage, and additional equipment coverage are examples of these. These coverages may sound good initially, but if you’ve never needed them in the past get rid of them and save.
  • Insure your auto and home with one company – Some insurers will give a discount to buyers that have more than one policy, otherwise known as a multi-policy discount. Discounts can add up to five, ten or even twenty percent. Even with this discount, it’s always a smart idea to compare rates to help ensure you have the lowest rates. You may still save more without the discount by buying insurance from more than one company.
  • Discounts for married drivers – Getting married can actually save you money on your auto insurance policy. Marriage is viewed as being more mature and statistics prove married drivers tend to file fewer claims.

Tailor your insurance coverage coverage to you

When it comes to choosing coverage for your personal vehicles, there is no one size fits all plan. Everyone’s needs are different.

For example, these questions might point out if your situation would benefit from an agent’s advice.

  • How can I force my company to pay a claim?
  • Am I covered when pulling a rental trailer?
  • Can my babysitter drive my car?
  • Should I file a claim if it’s only slightly more than my deductible?
  • When should my teen driver be added to my policy?
  • Should I buy only the required minimum liability coverage?
  • Does my 2020 Lexus GS 350 qualify for pleasure use?
  • Can I make deliveries for my home business?

If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and enter your zip code. It is quick, free and you can get the answers you need.

The ad said I’d save $480 a year!

Consumers can’t get away from ads for auto insurance savings by companies like Allstate, GEICO and Progressive. All the ads make an identical promise that drivers can save some big amount after switching to their company.

But how can every company have lower policy pricing?

Different companies can use profiling for the type of customer that is profitable for them. One example of a profitable insured should be over the age of 35, has a clear driving record, and drives a safe vehicle. Any person who meets those qualifications will most likely get cheap car insurance rates and as a result will probably save when they switch companies.

Drivers who are not a match for those criteria will be charged a higher premium and this results in business going elsewhere. The ads say “people that switch” not “everyone who quotes” save that kind of money. That is how companies can truthfully make claims that they all have the best car insurance rates.

Because of this risk profiling, you absolutely need to compare as many free car insurance quotes as you can. It is impossible to predict which insurance companies will have the lowest rate quotes.

Car insurance coverage options for a 2020 Lexus GS 350

Learning about specific coverages of your car insurance policy aids in choosing which coverages you need for your vehicles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as damage to your Lexus GS 350.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these coverages are set the same as your liability limits.

Comprehensive auto coverage – This will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as hitting a deer, rock chips in glass and a broken windshield. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Collision coverage – Collision insurance covers damage to your GS 350 resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as sideswiping another vehicle, scraping a guard rail, driving through your garage door and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Medical payments and PIP coverage – Coverage for medical payments and/or PIP pay for expenses for ambulance fees, nursing services, dental work and EMT expenses. They are often used in conjunction with a health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible

Liability insurance – This will cover injuries or damage you cause to a person or their property by causing an accident. It protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged property. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability insurance covers things like funeral expenses, repair bills for other people’s vehicles, loss of income and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but buy as much as you can afford.

Make an honest buck

We just showed you a lot of information how to lower your 2020 Lexus GS 350 insurance rates. It’s most important to understand that the more companies you get car insurance rates for, the better chance you’ll have of finding affordable car insurance. Consumers may even find the best rates are with a company that doesn’t do a lot of advertising.

Insureds leave their current company for a variety of reasons including extreme rates for teen drivers, denial of a claim, high rates after DUI convictions and even lack of trust in their agent. Regardless of your reason for switching companies, switching insurance coverage companies is pretty simple and you could end up saving a buck or two.

When searching for affordable car insurance quotes, do not buy less coverage just to save a little money. Too many times, someone sacrificed collision coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy the best coverage you can find at the best price while not skimping on critical coverages.

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