2001 Lexus RX 300 Car Insurance Rates – 7 Tricks for Cheaper Quotes

Trying to find cheaper insurance rates for your Lexus RX 300? People not familiar with buying insurance online can find buying the lowest-priced insurance quite difficult.

If you are paying for car insurance now, you will most likely be able to lower your premiums substantially using these techniques. Pricing cheaper protection is not that difficult. Nevertheless, car owners must understand the way insurance companies sell insurance online and apply this information to your search.

Free Car Insurance Quotes

There are several ways of comparing rate quotes from car insurance companies in your area. The easiest way to compare 2001 Lexus RX 300 insurance prices consists of shopping online. This can be accomplished in a couple of different ways.

  • The easiest and least time consuming way consumers can make multiple comparisons would be an industry-wide quote request form like this one (opens in new window). This form eliminates the need for separate quote forms for every car insurance company. One form submission will return price quotes direct from many companies.It’s the quickest way to get rates.
  • A harder way to analyze rates is to take the time to go to each company website to complete their respective quote request forms. For examples sake, we’ll pretend you want comparison quotes from State Farm, Safeco and Geico. You would have to take the time to go to each site and enter your information, which is why most consumers use the first method. For a list of links to companies insuring cars in your area, click here.

Whichever way you use, ensure you’re using identical coverage limits for each price quote. If your comparisons have different liability limits it’s not possible to make an equal comparison. Just a small difference in coverage limits may result in a large different in cost. And when price shopping your coverage, comparing more company’s prices helps locate the best offered rates.

Companies offer discounts so take them!

Insurance can be prohibitively expensive, but there could be available discounts to help bring down the price. A few discounts will automatically apply when you purchase, but some must be specifically requested before they will apply.

  • Paperless Signup – Certain companies give back up to $50 just for signing your application digitally online.
  • Drive Safe and Save – Insureds without accidents can pay as much as 50% less on RX 300 insurance than less cautious drivers.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
  • Defensive Driver – Taking a defensive driving course can save you 5% or more if you qualify.
  • Student Driver Training – Have your child complete a driver education course if it’s offered in school.
  • Government Employees – Being employed by or retired from a federal job can earn a discount up to 10% on RX 300 insurance depending on your company.
  • Accident Waiver – Certain companies will allow you to have one accident without raising rates if your claims history is clear for a certain period of time.

It’s important to understand that many deductions do not apply to the entire cost. Most only reduce the cost of specific coverages such as comprehensive or collision. So when the math indicates you could get a free insurance coverage policy, you’re out of luck. Any qualifying discounts will help reduce the amount you have to pay.

A partial list of companies that may have these money-saving discounts are:

Check with each company which discounts you may be entitled to. Discounts might not be offered in every state.

Do I just need basic coverages?

When buying adequate coverage for your personal vehicles, there really is not a “perfect” insurance plan. Everyone’s needs are different.

For example, these questions could help you determine if you could use an agent’s help.

  • Are split liability limits better than a combined single limit?
  • How much liability do I need to cover my assets?
  • If I drive on a suspended license am I covered?
  • When does my teenage driver need to be added to my policy?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Do I have coverage when using my vehicle for my home business?
  • Who is covered when they drive my 2001 Lexus RX 300?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Save $412 a year. For real?

Companies like State Farm, Geico and Progressive continually stream ads on TV and radio. All the ads make an identical promise that you can save after switching your coverage to them. How does each company make the same claim?

Different companies have a preferred profile for the type of customer that earns them a profit. For instance, a driver they prefer could be over the age of 40, a clean driving record, and has great credit. A driver who matches those parameters receives the best rates and as a result will probably pay quite a bit less when switching companies.

Potential insureds who fall outside the requirements will be charged higher prices which usually ends up with business not being written. The ad wording is “drivers who switch” not “everybody who quotes” save money. That’s why companies can advertise the savings.

That is why you need to get as many comparisons as possible. You cannot predict which company will provide you with the cheapest Lexus RX 300 insurance rates.

Auto insurance coverages

Having a good grasp of your policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Uninsured and underinsured coverage

This provides protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently these limits are identical to your policy’s liability coverage.

Liability

This coverage protects you from damage or injury you incur to a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 100/300/100 that translate to $100,000 bodily injury coverage, $300,000 for the entire accident, and $100,000 of coverage for damaged propery. Another option is one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like medical expenses, pain and suffering, legal defense fees and emergency aid. How much coverage you buy is a personal decision, but consider buying as much as you can afford.

Auto collision coverage

This coverage pays for damage to your RX 300 resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things like crashing into a ditch, damaging your car on a curb and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for chiropractic care, hospital visits and prosthetic devices. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive coverages

This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like rock chips in glass, fire damage and vandalism. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Buy Smart and Save

Cost effective 2001 Lexus RX 300 insurance can be sourced on the web as well as from independent agents, so you should be comparing quotes from both so you have a total pricing picture. There are still a few companies who don’t offer online price quotes and many times these regional insurance providers only sell through independent insurance agents.

When you buy insurance online, don’t be tempted to skimp on coverage in order to save money. There are many occasions where drivers have reduced comprehensive coverage or liability limits only to discover later that their decision to reduce coverage ended up costing them more. Your focus should be to find the BEST coverage at the best price, not the least amount of coverage.

Insureds switch companies for a variety of reasons including lack of trust in their agent, unfair underwriting practices, extreme rates for teen drivers or even delays in paying claims. Regardless of your reason for switching companies, finding a new insurance company is easier than you think.

For more information, take a look at these articles: