View 2021 Lexus NX 300h Insurance Rates 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 25, 2024

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Overpriced auto insurance can eat up your checking account, especially in this economy. Doing a rate comparison is free and is an excellent way to make sure you’re not throwing money away.

There are many car insurance companies to buy insurance from, and though it is a good thing to be able to choose, it can be more difficult to find the lowest rates.

This information will teach you how to get online quotes and some money-saving tips. If you currently have a car insurance policy, you will be able to reduce your rates substantially using these techniques. Drivers just need to learn the tricks to compare price quotes online.

Save a ton by taking advantage of discounts

Properly insuring your vehicles can get expensive, but there may be some discounts that could help you make your next renewal payment. Certain discounts will be applied when you get a quote, but some must be manually applied before you will receive the discount.

  • Active Service Discounts – Being on active deployment in the military may lower your insurance rates slightly.
  • Homeowners Discount – Owning your own home or condo can save you money since owning and maintaining a home shows financial diligence.
  • Good Student – A discount for being a good student can be rewarded with saving of up to 25%. This discount can apply well after school through age 25.
  • Drivers Education – It’s a good idea to have your young drivers successfully complete driver’s ed class in school or through a local driver safety program.
  • Payment Discounts – By paying your entire bill at once as opposed to paying monthly you could save 5% or more.
  • Data Collection Discounts – Drivers who agree to allow their company to track vehicle usage by installing a telematics device such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates as long as they are good drivers.
  • Defensive Driver Discount – Taking a course that instructs on driving safety could cut 5% off your bill and also improve your driving technique.
  • Low Mileage Discounts – Driving fewer miles could qualify for lower rates on the low mileage vehicles.
  • Discounts for Good Drivers – Accident-free drivers could pay up to 40% less for NX 300h coverage compared to accident prone drivers.

Discounts reduce rates, but you should keep in mind that many deductions do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like having all the discounts means you get insurance for free, you’re out of luck.

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

  • 21st Century
  • State Farm
  • AAA
  • Liberty Mutual
  • Progressive

If you need lower rates, check with each insurance company how many discounts you can get. Savings might not be offered in your area. To see insurance companies that offer the discounts shown above, enter your zip code here.

Four factors that affect insurance costs

It’s important that you understand the different types of things that play a part in calculating your policy premiums. If you have some idea of what controls the rates you pay, this empowers consumers to make smart changes that will entitle you to cheaper rates. Many factors are part of the calculation when pricing auto insurance. Some are pretty understandable such as your driving record, although others are less apparent such as your credit history or how safe your car is.

Shown below are a partial list of the pieces auto insurance companies consider when setting prices.

  • What are good liability limits? – The liability coverage on your policy will provide protection if you are determined to be liable for personal injury or accident damage. This coverage provides you with a defense in court starting from day one. Liability insurance is pretty cheap compared to comp and collision, so drivers should buy more than the minimum limits required by law.
  • Better premiums for uninterrupted coverage – Going without insurance is a quick way to drive up your policy premiums. Not only will you pay higher rates, getting caught without coverage can result in a revoked license or a big fine.
  • Teen drivers cost more – Older, more experienced drivers tend to be more responsible, tend to file fewer claims . Teen drivers are known to be easily distracted when driving with friends therefore auto insurance rates are much higher.
  • Vocation impacts rates – Did you know your career choice can influence rates? Careers like doctors, air traffic controllers and miners generally pay the highest rates because of intense work requirements and long work hours. Conversely, careers like farmers, students and retirees pay lower than average rates for NX 300h coverage.

How much insurance do I need?

When choosing the best insurance coverage, there really is not a one size fits all plan. Everyone’s needs are different so your insurance should reflect that For instance, these questions might help in determining whether you might need professional guidance.

  • Will my rates increase for filing one claim?
  • What exactly is covered by my policy?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Do I have any recourse if my insurance company denies a claim?
  • Can I rent a car in Mexico?
  • Can I rate high risk drivers on liability-only vehicles?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out your zip code. It is quick, free and you can get the answers you need.

Detailed coverages of your car insurance policy

Understanding the coverages of a car insurance policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverage types available from car insurance companies.

Collision coverage

Collision insurance pays for damage to your NX 300h resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like hitting a mailbox, sustaining damage from a pot hole and damaging your car on a curb. This coverage can be expensive, so consider dropping it from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Auto liability insurance

This coverage will cover injuries or damage you cause to other’s property or people. It 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 per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability can pay for claims like attorney fees, court costs, medical services and emergency aid. How much coverage you buy is your choice, but buy as much as you can afford.

Comprehensive coverages

This covers 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 claims such as damage from flooding, rock chips in glass, falling objects and hail damage. The highest amount a car insurance company will pay at claim time 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.

Uninsured and underinsured coverage

This coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked. Usually the UM/UIM limits are similar to your liability insurance amounts.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like EMT expenses, pain medications, ambulance fees and doctor visits. They are used in conjunction with a health insurance program or if you do not have health coverage. It covers not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Find Good Coverage for Less

We covered many tips how you can get a better price on 2021 Lexus NX 300h insurance. The key thing to remember is the more quotes you get, the better your comparison will be. Consumers may even find the lowest car insurance rates come from the least-expected company. These companies may only write in your state and offer lower premium rates than their larger competitors like State Farm, GEICO and Nationwide.

As you prepare to switch companies, do not skimp on critical coverages to save a buck or two. There have been many cases where consumers will sacrifice physical damage coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to purchase plenty of coverage at an affordable rate while not skimping on critical coverages.

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