2001 Lexus IS 300 Insurance Rates – 7 Ways to Save

Looking for cheaper insurance coverage rates for your Lexus IS 300? Nobody I know likes having to buy insurance coverage, especially when their premiums are through the roof. Companies like Geico and Progressive all promote huge savings with TV and radio ads and it is challenging if not impossible to ignore the promise of big savings and do the work needed to find the best deal.

If you have a policy now or are looking for a new policy, you can follow these tips to find better prices while maximizing coverage. Buying car insurance is not that difficult. Drivers only need an understanding of the proper methods to compare prices over the internet.

Discounts on 2001 Lexus IS 300 insurance

Companies offering auto insurance don’t list every available discount in a way that’s easy to find, so we break down some of the best known and also the lesser-known savings tricks you should be using. If you aren’t receiving every discount possible, you are paying more than you should be.

  • No Charge for an Accident – Certain companies will allow you to have one accident before hitting you with a surcharge if your claims history is clear for a certain period of time.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems help deter theft and qualify for as much as a 10% discount.
  • Good Student – A discount for being a good student can get you a discount of up to 25%. The good student discount can last up until you turn 25.
  • Multiple Vehicles – Having multiple vehicles on one policy may reduce the rate for each vehicle.
  • Safety Course Discount – Completing a course teaching defensive driving skills could possibly earn you a 5% discount if you qualify.
  • Pay Now and Pay Less – If paying your policy premium upfront instead of paying each month you can actually save on your bill.
  • Organization Discounts – Belonging to a civic or occupational organization is a good way to get lower rates when shopping for insurance coverage for IS 300 insurance.

Consumers should know that most discounts do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as comprehensive or collision. So when the math indicates all the discounts add up to a free policy, insurance coverage companies aren’t that generous.

To see a list of insurance companies who offer insurance coverage discounts, follow this link.

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

Drivers constantly see and hear ads for car insurance savings from companies such as 21st Century, Allstate and State Farm. They all seem to have a common claim that you can save if you move your policy.

But how can every company say the same thing?

All companies can use profiling for the type of customer that makes them money. For instance, a preferred risk could be between the ages of 40 and 55, a clean driving record, and has a high credit rating. A customer getting a price quote that hits that “sweet spot” gets the lowest rates and is almost guaranteed to save a lot of money.

Drivers who don’t measure up to the “perfect” profile must pay a higher premium which leads to business not being written. Company advertisements say “drivers who switch” not “everyone that quotes” save money. That’s the way companies can truthfully make those claims. This illustrates why you absolutely need to compare many company’s rates. You cannot predict which company will provide you with the cheapest Lexus IS 300 insurance rates.

Tailor your coverage to you

When it comes to choosing proper insurance coverage for your personal vehicles, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions can aid in determining whether you might need professional guidance.

  • Does my liability insurance cover pulling a trailer or camper?
  • What is medical payments coverage?
  • What are the best liability limits?
  • Are rock chip repairs covered?
  • Does my medical payments coverage pay my health insurance deductible?
  • Why do I need rental car insurance?
  • What is an SR-22 filing?
  • Do I need higher collision deductibles?

If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It only takes a few minutes and can provide invaluable advice.

Car insurance 101

Having a good grasp of your auto insurance policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and coverage can change by endorsement. These are typical coverage types offered by auto insurance companies.

Comprehensive coverage – This coverage pays for damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like hail damage, hitting a bird, a tree branch falling on your vehicle, vandalism and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Auto liability – Liability coverage will cover damages or injuries you inflict on people or other property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability coverage protects against things such as repair costs for stationary objects, emergency aid and legal defense fees. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage pay for expenses such as rehabilitation expenses, prosthetic devices, EMT expenses and surgery. They are used to fill the gap from your health insurance program or if you do not have health coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist coverage – This provides protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your Lexus IS 300.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.

Collision coverage – This coverage will pay to fix damage to your IS 300 from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like scraping a guard rail, hitting a mailbox, crashing into a ditch, sideswiping another vehicle and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible to get cheaper collision coverage.

Don’t be a big spender

Low-cost 2001 Lexus IS 300 insurance is definitely available from both online companies as well as from independent agents, so compare prices from both so you have a total pricing picture. Some insurance companies don’t offer you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

Throughout this article, we presented a lot of techniques to shop for insurance online. The most important thing to understand is the more times you quote, the higher your chance of finding lower rates. You may even find the lowest premiums are with a company that doesn’t do a lot of advertising. These companies may often insure only within specific states and give getter rates compared to the large companies like State Farm, Geico and Nationwide.

Additional resources