Lower Your 2001 Lexus ES 300 Insurance Rates

Scraping up a payment for overpriced Lexus ES 300 insurance can dwindle your bank account, especially in this economy. Doing a price comparison is a smart way to help make ends meet.

Because there are so many insurance companies to choose from, it can be challenging to find the best provider.

Locating affordable coverage is not that difficult. Basically, every driver who is required by state law to have insurance coverage stands a good chance to be able to lower their premiums. But consumers can benefit from knowing the way insurance companies price insurance differently and use this information to your advantage.

Discounts are available to cut your rates

The price of auto insurance can be rather high, but you may find discounts to cut the cost considerably. Certain discounts will be applied at the time of purchase, but a few need to be requested specifically before you get the savings.

55 and Retired – Mature drivers can possibly qualify for better auto insurance rates on ES 300 coverage.
Early Signing – Some insurance companies reward drivers for switching to them prior to your current policy expiration. This can save 10% or more.
No Charge for an Accident – A handful of insurance companies will forgive one accident without raising rates if you are claim-free for a certain period of time.
Accident Free – Drivers with accident-free driving histories pay less as compared to drivers who are more careless.
Government Employees – Simply working for the federal government can save as much as 8% on ES 300 coverage with select insurance companies.
Use Seat Belts – Drivers who require all occupants to buckle their seat belts can save up to 15% off your PIP or medical payments premium.

As a disclaimer on discounts, many deductions do not apply to the entire policy premium. Some only apply to individual premiums such as liability, collision or medical payments. Just because you may think adding up those discounts means a free policy, it just doesn’t work that way. Any amount of discount will help reduce the amount you have to pay.

Companies who might offer some of the above discounts are:

It’s a good idea to ask each company what discounts are available to you. Discounts may not apply everywhere.

Everyone needs different coverages

When buying adequate coverage, there is no best way to insure your cars. Everyone’s situation is unique so your insurance needs to address that. Here are some questions about coverages that could help you determine if your situation would benefit from professional advice.

What is high-risk coverage and where do I buy it?
Am I covered by my employer’s commercial auto policy when driving my personal car for business?
Why is insurance for a teen driver so high?
What companies insure drivers after a DUI or DWI?
Is upholstery damage covered by car insurance?
Can I rent a car in Mexico?
Do I need special endorsements for business use of my vehicle?
Do I pay less if my vehicle is kept in my garage?
When should I buy a commercial auto policy?
Where can I find DUI or SR-22 insurance?

If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Learn about car insurance coverages for a 2001 Lexus ES 300

Having a good grasp of your car insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types found on most car insurance policies.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as rehabilitation expenses, pain medications, chiropractic care and prosthetic devices. They are utilized in addition to your health insurance plan or if you do not have health coverage. It covers not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Liability auto insurance

Liability coverage provides protection from injuries or damage you cause to other people or property. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims such as pain and suffering, legal defense fees, funeral expenses, loss of income and court costs. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.

Auto collision coverage

This coverage covers damage to your ES 300 from colliding with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for claims such as sideswiping another vehicle, hitting a mailbox, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Another option is to increase the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Lexus ES 300.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Normally the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive coverage

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as a tree branch falling on your vehicle, theft, damage from flooding, a broken windshield and damage from getting keyed. The maximum payout a car insurance company will pay at claim time 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.

And the best car insurance company is…

Cost effective 2001 Lexus ES 300 insurance is attainable from both online companies and also from your neighborhood agents, so you should compare both so you have a total pricing picture. Some companies may not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. In many cases, consumers will sacrifice full coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to purchase plenty of coverage at a price you can afford, not the least amount of coverage.