Save on 2022 Lexus IS 350 Insurance Rates in 2024

Want lower auto insurance rates for your Lexus IS 350? Do you get frustrated by the dozens of auto insurance companies available to you? There are so many options that it can really be a burden to find better auto insurance rates.

If you currently have car insurance, you will most likely be able to reduce your rates substantially using this information. Buying the cheapest protection is not that difficult. But consumers must understand how companies market on the web and use this information to your advantage.

Why your insurance prices might be higher

Part of the auto insurance buying process is learning the rating factors that come into play when calculating your premiums. When consumers understand what determines premiums, this helps enable you to make changes that may result in cheaper rates. Many factors are used when you quote your car insurance policy. Some of the criteria are obvious such as traffic violations, but other factors are less obvious like where you live or how safe your car is.

• High credit means lower costs – A driver’s credit score will be a significant factor in determining your rates. Insureds with excellent credit scores tend to be better drivers and file fewer claims than those with lower credit scores. Therefore, if your credit is low, you could potentially save money when insuring your 2022 Lexus IS 350 by spending a little time repairing your credit.
• Traffic violations hurt – How you drive influences premium rates substantially. Drivers with clean records have lower premiums compared to bad drivers. Only having one chargeable violation can increase rates twenty percent or more. Drivers who have gotten flagrant violations like reckless driving or DUI may find that they have to to submit a SR-22 form with their state DMV in order to prevent a license revocation.
• Drive fewer miles and save – The higher the miles on your Lexus in a year the more it will cost to insure it. A lot of insurance companies rate vehicles based upon how the vehicle is primarily used. Autos that have low annual miles get more affordable rates compared to those used for work or business. It’s always a good idea to double check that your auto insurance declarations sheet is rated on the right rating data. Having an incorrect usage rating on your IS 350 is throwing money out the window.
• Keep insurance claims to a minimum – If you are the type of insured that files lots of claims you shouldn’t be surprised to get much higher rates or policy non-renewal. Companies provide discounts to policyholders who are claim-free. Insurance coverage is meant to be used in the event of claims that pose a financial burden.
• More people means more accidents – Choosing to live in less populated areas of the country can save you money when buying auto insurance. Drivers who live in large cities have more road rage incidents and longer commutes to work. Fewer people translates into fewer accidents.
• Gals tend to cost less – Statistics have proven females are less aggressive when driving. This data doesn’t prove that men are WORSE drivers than women. Women and men are responsible for fender benders in similar numbers, but men cause more damage and cost insurance companies more money. Men also receive more costly citations such as reckless driving.
• Five star NHTSA crash test rating saves money – Vehicles with high crash test scores tend to be cheaper to insure. Safe vehicles help reduce the chance of injuries in an accident and any reduction in injury severity means your insurance company pays less and lower rates for you. If the Lexus IS 350 is rated at a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
• Protect yourself with liability protection – Liability insurance kicks in when you are ruled to be at fault for causing personal injury or damage in an accident. Liability provides you with a defense in court which can cost thousands of dollars. This coverage is relatively inexpensive when compared to the cost of physical damage coverage, so do not cut corners here.

Use discounts to get cheaper car insurance rates

The price of auto insurance can be rather high, but discounts can save money and there are some available that may help make it more affordable. Certain credits will be shown at the time of quoting, but some may not be applied and must be asked for prior to receiving the credit.

• Drive Safe and Save – Safe drivers can pay as much as 50% less on IS 350 insurance than their less cautious counterparts.
• Telematics Data – Insureds who allow companies to analyze where and when they drive remotely such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if their driving habits are good.
• Switch and Save Discount – Some insurance companies give discounts for switching companies before your current coverage expires. It can save you around 10%.
• Discounts for New Vehicles – Insuring a new car may earn a small discount since new vehicles are generally safer.
• Accident Forgiveness – Not necessarily a discount, but companies like Liberty Mutual, Allstate and State Farm may permit one accident without getting socked with a rate hike if you are claim-free for a certain period of time.
• Online Discount – Many companies give back up to $50 for buying your policy over the internet.

Don’t be shocked that some credits don’t apply to the whole policy. Most only cut individual premiums such as comprehensive or collision. Despite the fact that it seems like adding up those discounts means a free policy, you won’t be that lucky.

A few popular companies and their possible discounts are included below.

• Progressive offers discounts including online quote discount, homeowner, multi-policy, multi-vehicle, online signing, good student, and continuous coverage.
• The Hartford policyholders can earn discounts including good student, defensive driver, anti-theft, driver training, and vehicle fuel type.
• Mercury Insurance may have discounts that include multi-car, good student, location of vehicle, anti-theft, good driver, and annual mileage.
• GEICO offers premium reductions for defensive driver, driver training, good student, five-year accident-free, and emergency military deployment.
• AAA includes discounts for good student, multi-car, education and occupation, anti-theft, and good driver.
• State Farm may offer discounts for safe vehicle, accident-free, multiple policy, student away at school, defensive driving training, multiple autos, and good driver.

Double check with each insurance company how you can save money. Some of the discounts discussed earlier may not apply in your state. To choose insurance companies who offer car insurance discounts, enter your zip code here.

Save 15 percent in 15 minutes? Is it for real?

Respected companies like State Farm and Allstate seem to constantly run ads in print and on television. All the ads advertise claims that drivers will save a bundle just by switching to them. Is it even possible that every company can save you money? This is the way they can do it.

All the different companies have specific criteria for the type of driver that earns them the highest profit. One example of a profitable risk profile might have to be a married female, insures multiple vehicles, and has a high credit rating. A prospective insured who meets those qualifications will get very good prices and will save quite a bit of money when switching.

Potential insureds who fall short of these criteria may receive higher premiums with the end result being the customer buying from a different company. The ads state “customers that switch” but not “everyone who gets a quote” can get the lowest rates when switching. That is how insurance companies can lure you into getting a quote. Because of this risk profiling, you need to get insurance coverage quotes as often as possible. It is just not possible to predict with any certainty which company will provide you with the cheapest rates.

Tailor your car insurance coverage to you

When buying adequate coverage, there isn’t really a perfect coverage plan. Every situation is different.

For instance, these questions might help in determining whether your personal situation could use an agent’s help.

• What can I do if my company denied a claim?
• Can I afford to buy a different vehicle if my 2022 Lexus IS 350 is totaled?
• How much liability do I need to cover my assets?
• Where can I find DUI or SR-22 insurance?
• How high should my uninsured/underinsured coverage be in my state?
• Do I have coverage when pulling a U-Haul trailer?
• Am I covered when delivering products for my home-based business?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to a licensed agent. If you don’t have a local agent, complete your zip code.

Car insurance coverages 101

Learning about specific coverages of a car insurance policy helps when choosing the right coverages for your vehicles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Lexus IS 350.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for EMT expenses, prosthetic devices, surgery and X-ray expenses. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants and also covers getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Auto liability

This provides protection from damages or injuries you inflict on other people or property by causing an accident. It protects you from legal claims by others. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability insurance covers things such as structural damage, attorney fees, repair bills for other people’s vehicles, medical services and emergency aid. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverage protection

Collision coverage covers damage to your IS 350 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims such as driving through your garage door, hitting a parking meter, hitting a mailbox and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to bring the cost down.

Comprehensive or Other Than Collision

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for claims such as a tree branch falling on your vehicle, a broken windshield, vandalism and theft. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Quote more, save more

As you go through the steps to switch your coverage, it’s a bad idea to skimp on coverage in order to save money. There have been many situations where consumers will sacrifice collision coverage only to discover later that the few dollars in savings costed them thousands. Your goal should be to find the BEST coverage at an affordable rate, but don’t skip important coverages to save money.

Drivers switch companies for many reasons like high prices, being labeled a high risk driver, delays in paying claims or unfair underwriting practices. No matter why you want to switch, finding a new company is pretty easy and you might even save some money in the process.

Throughout this article, we presented many ideas to get a better price on 2022 Lexus IS 350 insurance. The most important thing to understand is the more companies you get rates for, the higher the chance of saving money. Drivers may discover the lowest priced auto insurance comes from some of the smallest insurance companies.