Cheapest 2020 Lexus IS 350 Insurance Rates in 2024

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Tonya Sisler

Content Team Lead

Tonya Sisler has been a technical insurance writer for over five years. She uses her extensive insurance and finance knowledge to write informative articles that answer readers' top questions. Her mission is to provide readers with timely, accurate information that allows them to determine their insurance needs and choose the best coverage. Tonya currently leads a team of 10 insurance copywrite...

Content Team Lead

UPDATED: Mar 15, 2023

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Getting lower priced insurance is difficult for people who are new to online price comparisons. With such a large choice of online companies available, how are we expected to efficiently compare every company to locate the best pricing?

If you have car insurance now, you should be able to lower your premiums substantially using these techniques. Finding cheaper protection is simple if you know the tricks. But drivers benefit from understanding the way companies sell online because it can help you find the best coverage.

How to buy car insurance online

Most companies such as State Farm, Allstate and GEICO give price estimates direct online. Doing online quotes is fairly simple as you simply type in your coverage information as requested by the quote form. After you submit the form their system will obtain reports for credit and driving violations and generates pricing information.

Online price estimates makes it simple to compare prices but the work required to visit several different sites and type in the same information can get tiresome after awhile. But it’s necessary to perform this step if you want to get the best price possible.

The better way to compare rates

A more efficient way to compare car insurance pricing uses just one form that gets price quotes from several different companies. It’s a real time-saver, requires less work, and makes online shopping much easier to do. Immediately after submitting the form, it gets priced and you can choose any of the resulting price quotes.

If the quotes result in lower rates, it’s easy to complete the application and buy the new coverage. The entire process takes just a few minutes to complete and could lower your rates considerably.

If you want to find out how much you’re overpaying now, simply enter your zip code here and submit your coverage information. If you have your current policy handy, we recommend you type in deductibles and limits exactly as shown on your declarations page. This makes sure you’re receiving rate quotes using the exact same coverages.

Car insurance quotes and discounts

Some companies don’t always list all disounts very clearly, so the list below details both well-publicized and also the more inconspicuous credits that may apply to you.

  • Auto/Home Discount – If you can bundle your homeowners and auto insurance and insure them both with the same insurance company you could earn a discount of nearly 15% which can help you find the cheapest insurance.
  • E-sign Discounts – Some car insurance companies will discount your bill up to fifty bucks for buying a policy and signing up online.
  • Life Insurance Discount – Larger insurance carriers have a discount if you purchase a life insurance policy as well.
  • Renewal Discounts – A few insurance companies give discounts for buying a policy prior to the expiration date on your current policy. You could save around 10% when you buy insurance online.
  • Good Driver Discounts – Drivers who don’t get into accidents could pay up to 40% less for IS 350 coverage compared to accident prone drivers.
  • New Vehicle Savings – Insuring a new car can be considerably cheaper since newer vehicles have better safety ratings.
  • Driving Data Discount – Drivers who agree to allow their company to spy on driving manner remotely such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they exhibit good driving behavior.
  • Save with More Vehicles Insured – Having several vehicles on the same car insurance policy qualifies for this discount.
  • ABS and Traction Control Discounts – Cars and trucks that have anti-lock braking systems can reduce accidents and qualify for as much as a 10% discount.
  • Low Miles Discount – Low mileage vehicles may enable drivers to earn lower prices on the low mileage vehicles.

Discounts save money, but please remember that most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like comp or med pay. Despite the fact that it seems like all those discounts means the company will pay you, car insurance companies aren’t that generous.

Car insurance companies that may offer most of these discounts include:

Check with all the companies which credits you are entitled to. Discounts may not be offered in your area. To see insurers who offer cheap car insurance quotes, enter your zip code here.

Situations that may require an agent’s advice

When it comes to choosing adequate coverage, there is no perfect coverage plan. Your needs are not the same as everyone else’s.

For instance, these questions might point out if your situation might need an agent’s assistance.

  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Should I buy more coverage than the required minimum liability coverage?
  • Does my insurance cover a custom paint job?
  • Am I covered if I crash into my own garage door?
  • How can I get high-risk coverage after a DUI?
  • What can I do if my company won’t pay a claim?
  • What is medical payments coverage?
  • Do I need special endorsements for business use of my vehicle?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed agent. To find an agent in your area, simply complete your zip code.

How you can control Lexus IS 350 insurance rates

It’s important that you understand a few of the rating criteria that play a part in calculating insurance rates. When consumers understand what impacts premium levels, this allows you to make good choices that can help you get better insurance rates. Many things are taken into consideration when quoting car insurance. Most are fairly basic such as your driving record, although some other factors are less obvious like your continuous coverage or your commute time.

  • Better prices on vehicles with better crash test results – Cars with five star safety ratings cost less to insure. The safest vehicles reduce the chance of injuries and any reduction in injury severity means lower claim amounts and cheaper rates on your policy.
  • Drive less and pay lower prices – Driving a lot of miles each year the more you will pay for insurance. A lot of insurance companies rate vehicles based on their usage. Cars and trucks not used for work or commuting receive lower rates compared to those used for work or business. It’s a good idea to make sure your insurance coverage is rated on how each vehicle is driven, because improper ratings can cost you money. Incorrect rating for your IS 350 is just wasting money.
  • Liability protection preserves assets – The liability coverage on your policy kicks in in the event that a court rules you are at fault for damages from an accident. It will provide for a legal defense to defend your case. Liability insurance is pretty cheap compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
  • Gender and insurance coverage costs – Over the last 30 years, statistics show females are less aggressive when driving. However, don’t assume that women are BETTER drivers than men. Men and women are in fender benders at a similar rate, but the male of the species cause more damage. Not only that, but men also have more aggressive citations like driving under the influence (DUI).
  • Bump up physical damage deductibles to lower rates – Comp and collision deductibles state the amount of money you are willing to pay in the event of a claim. Protection for physical damage, also known as collision and other-than-collision, is used to repair damage to your car. A few examples of covered claims would be a windshield broken by a bird, collision with a deer, or theft of your vehicle. The more damage repair cost you are required to pay out-of-pocket, the bigger discount you will receive for IS 350 coverage.
  • Bundle policies and save – Some insurance companies afford lower prices to clients who carry more than one policy in the form of a multi-policy discount. Discounts can add up to ten percent or more. Even though this discount sounds good, it’s in your best interest to compare other insurance prices to help ensure you have the lowest rates. Consumers may save money by insuring with multiple companies.

Car insurance coverages for a Lexus IS 350

Knowing the specifics of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be confusing and coverage can change by endorsement.

Uninsured or underinsured coverage

This coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Most of the time the UM/UIM limits are set the same as your liablity limits.

Collision coverage protection

This covers damage to your IS 350 resulting from colliding 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 pays for claims such as damaging your car on a curb, colliding with another moving vehicle and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also raise the deductible to save money on collision insurance.

Coverage for liability

This coverage can cover damages or injuries you inflict on other people or property that is your fault. It protects you from claims by other people. Liability 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. Your policy might show values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims like medical services, attorney fees, bail bonds and court costs. How much liability should you purchase? That is up to you, but consider buying as large an amount as possible.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like pain medications, rehabilitation expenses, funeral costs, X-ray expenses and doctor visits. They are often used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers being hit by a car walking across the street. PIP is not universally available but can be used in place of medical payments coverage

Comprehensive protection

Comprehensive insurance covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like a tree branch falling on your vehicle, hitting a deer and falling objects. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Final considerations

We just covered quite a bit of information on how to reduce 2020 Lexus IS 350 insurance prices online. It’s most important to understand that the more quotes you get, the better likelihood of getting the cheapest insurance. You may even discover the best price on insurance is with some of the smallest insurance companies.

When trying to cut insurance costs, do not buy poor coverage just to save money. In many instances, an insured cut liability limits or collision coverage and discovered at claim time that it was a big error on their part. Your aim should be to buy a smart amount of coverage at the lowest possible cost while not skimping on critical coverages.

Low-cost 2020 Lexus IS 350 insurance is attainable on the web in addition to many insurance agents, and you should be comparing both in order to have the best price selection to choose from. A few companies don’t offer price quotes online and most of the time these smaller providers provide coverage only through local independent agents.

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