Cheap 2023 Lexus RX 350 Insurance Quotes 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 28, 2024

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Trying to find the cheapest insurance for a Lexus RX 350 can turn out to be a painful process, but you can learn a few tricks to make it easier. There are more efficient ways to buy insurance coverage and you need to know the absolute fastest way to price shop coverage for a new or used Lexus and get the cheapest rates from both online companies and local agents.

You need to get comparison quotes on a regular basis because prices change frequently. Even if you got the best rates on RX 350 coverage a year ago you will most likely find a better premium rate today. Forget anything you know (or think you know) about insurance coverage because you’re about to learn the fastest way to get good coverage at a lower rate.

How to get low cost insurance coverage

Most larger insurance companies allow consumers to get price estimates on their websites. This process is possible for anyone because you just enter your coverage preferences into the form. Upon sending the form, their quoting system gets credit information and your driving record and quotes a price based on the information you submitted.

Online price estimates makes it a lot easier to compare rates but the work required to visit multiple sites and complete many quote forms is not the best way to spend an afternoon. But it’s also necessary to compare as many rates as possible if you are searching for the lowest price.

There is an easier way to compare rates

The preferred way to find better insurance coverage pricing uses one simple form that obtains quotes from more than one company. It’s a real time-saver, helps eliminate repetitive entry, and makes price shopping online much easier to do. After your information is entered, your coverage is rated and you can select any one of the price quotes you receive. If one or more price quotes are lower than your current rates, you can simply submit the application and buy the new coverage. This process takes less than 15 minutes and you will know how your current rates stack up.

If you want to find out how much you can save on insurance coverage, simply enter your zip code here and enter your information. To compare your current rates, we recommend you copy exactly as shown on your declarations page. This makes sure you will have an apples-to-apples comparison for similar insurance coverage.

Do you qualify for discount insurance?

Some insurers don’t always advertise all available discounts in an easy-to-find place, so the next list breaks down both the well known and the harder-to-find discounts you could be receiving when you buy auto insurance online.

  • Theft Deterrent System – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft so companies will give you a small discount.
  • Pay Now and Pay Less – By making one initial payment as opposed to paying monthly you can avoid monthly service charges.
  • Good Students Pay Less – Performing well in school may save as much as 25% on a auto insurance quote. The discount lasts up until you turn 25.
  • Drive Less and Save – Fewer annual miles on your Lexus may enable drivers to earn cheaper prices.
  • Homeowners Pay Less – Owning a home may trigger a policy discount on insurance since home ownership shows financial diligence.
  • Driver’s Education for Students – Teen drivers should enroll and complete driver’s education in school.
  • Air Bag Discount – Options like air bags or motorized seat belts may qualify for discounts up to 30%.
  • One Accident Forgiven – but certain companies allow you one accident before hitting you with a surcharge if you are claim-free for a set time period.
  • Auto/Life Discount – If the company offers life insurance, you could get a lower premium rate if you buy some life insurance in addition to your auto policy.

Drivers should understand that most discount credits are not given to the overall cost of the policy. Most only apply to individual premiums such as physical damage coverage or medical payments. Even though it may seem like having all the discounts means you get insurance for free, insurance companies aren’t that generous.

Car insurance companies that may have many of the previously listed discounts are:

  • Mercury Insurance
  • Farmers Insurance
  • Farm Bureau
  • State Farm
  • Allstate

Before purchasing a policy, check with all companies you are considering which discounts they offer. Some discounts listed above may not apply in your area.

How car insurance companies determine Lexus RX 350 insurance prices

Multiple criteria are used in the calculation when you get a price on insurance. Most are fairly basic such as your driving record, but some are less obvious like your continuous coverage or how safe your car is.

The itemized list below are some of the most rate-impacting factors used by companies to determine your rate level.

  • Safer cars cost less to insure – Cars with five star safety ratings cost less to insure. Highly rated vehicles have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims which can result in lower premiums.
  • Lower insurance rates with GPS tracking and theft deterrents – Choosing to buy a car with anti-theft technology or alarm system can save you some money. Systems that thwart theives like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder auto theft and help lower rates.
  • High credit scores save money – Having a good credit rating is a large factor in calculating your insurance rates. Insureds with very high credit ratings tend to be more responsible than drivers who have poor credit. If your credit history is low, you may save money insuring your 2023 Lexus RX 350 if you clean up your credit.
  • Pleasure use saves money – Driving more miles each year the more it will cost to insure it. Many insurance companies apply a rate based upon how much you drive. Autos left parked in the garage get more affordable rates than vehicles that have high annual mileage. An incorrectly rated RX 350 may be costing you higher rates. Ask your agent if your insurance policy correctly shows the correct usage.
  • Costs may be higher where you live – Residing in small towns and rural areas may provide you with better prices when trying to find low car insurance rates. People in densly populated areas have to deal with much more traffic and a longer drive to work. Fewer drivers translates into fewer accidents.

What insurance coverages do I need?

When it comes to choosing the right insurance coverage, there really is not a perfect coverage plan. Every insured’s situation is different.

Here are some questions about coverages that might help in determining whether you might need an agent’s assistance.

  • When should I drop full coverage on my 2023 Lexus RX 350?
  • Is my 2023 Lexus RX 350 covered for flood damage?
  • Will my insurance pay for OEM parts?
  • What is the rate difference between pleasure use and commuting?
  • Is a new car covered when I drive it off the dealer lot?
  • Why am I required to get a high-risk car insurance policy?
  • Is borrowed equipment or tools covered if stolen or damaged?

If you don’t know the answers to these questions, you may need to chat with an agent. If you don’t have a local agent, take a second and enter your zip code. It’s fast, free and may give you better protection.

Insurance coverage considerations

Learning about specific coverages of your policy aids in choosing which coverages you need at the best deductibles and correct limits. Insurance terms can be confusing and reading a policy is terribly boring.

Coverage for liability

This will cover damages or injuries you inflict on other people or property in an accident. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged property.

Liability insurance covers things like medical expenses, funeral expenses and bail bonds. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Medical expense insurance

Medical payments and Personal Injury Protection insurance reimburse you for expenses like X-ray expenses, hospital visits and dental work. The coverages can be used to fill the gap from your health insurance program or if you do not have health coverage. It covers all vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Comprehensive (Other than Collision)

This covers damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things like rock chips in glass, falling objects, hitting a deer, hail damage and a broken windshield. The maximum amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and also any damage incurred to your Lexus RX 350.

Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Collision insurance

Collision coverage covers damage to your RX 350 from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like sideswiping another vehicle, crashing into a ditch and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.

A penny earned…

When getting auto insurance quotes online, never buy poor coverage just to save money. In too many instances, an accident victim reduced uninsured motorist or liability limits and learned later that they should have had better coverage. The ultimate goal is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.

Throughout this article, we presented quite a bit of information on how to lower your 2023 Lexus RX 350 insurance prices. The most important thing to understand is the more companies you get rates for, the better your comparison will be. Consumers could even find that the lowest prices are with an unexpected company.

Consumers change insurance companies for any number of reasons including policy non-renewal, questionable increases in premium, high rates after DUI convictions or even denial of a claim. Regardless of your reason for switching companies, finding a new company can be easier than you think.

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