Lower Your 2004 Lexus IS 300 Insurance Rates

I can’t think of anyone who cherishes buying auto insurance, especially when their premiums are through the roof. Consumers have many insurers to buy insurance from, and even though it’s nice to have a choice, having more auto insurance companies makes it harder to adequately compare rates.

You should make it a habit to price shop coverage quite often because prices trend upward over time. If you had the best rates on IS 300 insurance six months ago the chances are good that you can find a lower rate today. You can find a lot of wrong information about auto insurance on the internet, so we’re going to give you some good information on how to quit paying high auto insurance rates.

Buying car insurance is easy if you know what you’re doing. If you have insurance now or need new coverage, you can use these tips to cut your premiums while maintaining coverages. Consumers just need to learn the tricks to shop for car insurance on the web.

Quick Insurance Quotes

Effectively comparing insurance prices can be a daunting task if you aren’t aware of the best way to get rate quotes. You can waste a lot of time talking about coverages with insurance agencies in your area, or you can stay home and use the web for quick rates.

The majority of car insurance companies belong to an insurance system where prospective buyers send in one quote, and every company can give them a price for coverage. This saves time by eliminating quote requests to each individual insurance company.

To submit your quote information now, click here (opens in new window).

One minor caviat to getting quotes like this is you cannot specify the insurers to get quotes from. If you wish to select specific insurance companies for rate comparison, we put together a list of low cost insurance companies in your area. Click here to view list.

It’s up to you which method you use, but ensure you are comparing apples-to-apples coverages and limits for each price quote. If you are comparing mixed coverages it will be very difficult to find the best deal for your Lexus IS 300.

These discounts can lower your rates

Companies that sell car insurance don’t always list all their discounts very clearly, so we took the time to find both the well known and the harder-to-find savings tricks you should be using. If you’re not getting every credit available, you are paying more than you should be.

  • Anti-lock Brake System – Vehicles equipped with ABS or steering control can avoid accidents and therefore earn up to a 10% discount.
  • Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class in high school.
  • Homeowners Discount – Being a homeowner may trigger a auto insurance policy discount because owning a home is proof that your finances are in order.
  • Discount for Swiching Early – Select companies give a discount for signing up before your current expiration date. The savings is around 10%.
  • New Car Discount – Insuring a new car can be considerably cheaper because new vehicles have to meet stringent safety requirements.

It’s important to note that many deductions do not apply to the overall cost of the policy. A few only apply to individual premiums such as liability, collision or medical payments. So when it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

To see a list of providers with discount auto insurance rates, follow this link.

Factors that can influence Lexus IS 300 insurance rates

An important part of buying insurance is that you know some of the elements that go into determining the price you pay for car insurance. When you know what positively or negatively controls the rates you pay allows you to make educated decisions that will entitle you to lower car insurance prices.

  • Men pay higher rates – Statistics show women are more cautious behind the wheel. However, this does not mean women are BETTER drivers than men. Men and women cause accidents at a similar rate, but the men have costlier accidents. Men also statistically get cited for more serious violations such as reckless driving. Young males are most likely to cause an accident and are penalized with high car insurance rates.
  • Optional equipment can affect rates – Driving a car with anti-theft technology or alarm system can help lower your rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder auto theft.
  • Lower miles equals lower premium – The more you drive each year the more you will pay for car insurance. Almost all companies apply a rate based upon how you use the vehicle. Cars and trucks that are left in the garage receive lower rates compared to those used for work or business. An improperly rated IS 300 may be wasting your money. Verify your car insurance policy is rated on the correct driver usage, because improper ratings can cost you money.
  • A lapse in coverage is a bad thing – Allowing your coverage to lapse will be a fast way to trigger a rate increase. Not only will rates go up, but being ticketed for driving with no insurance will get you a steep fine or even jail time.
  • Pay less if you’re married – Getting married can actually save you money on car insurance. Marriage usually means you are more responsible and it’s statistically proven that married couples file fewer claims.
  • Don’t sacrifice liability coverage – Your policy’s liability coverage provides coverage if ever a jury decides you are liable for damages caused by your negligence. Liability provides you with a defense in court up to the limits shown on your policy. This coverage is very inexpensive as compared to coverage for physical damage, so do not skimp.

Different people need different coverages

When it comes to choosing coverage for your personal vehicles, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions may help you determine whether or not you might need professional guidance.

  • Does insurance cover damages from a DUI accident?
  • Does car insurance cover theft of personal property?
  • Do all my vehicles need collision coverage?
  • Is a blown tire covered by insurance?
  • Should I carry comprehensive and collision coverage?
  • Do I have coverage when making deliveries for my home business?
  • What if I owe more than I can insure my car for?
  • Is extra glass coverage worth it?
  • Can I still get insurance after a DUI?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and can help protect your family.

Specifics of your car insurance policy

Understanding the coverages of car insurance aids in choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. These are the normal coverages found on most car insurance policies.

Comprehensive coverage

This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as fire damage, hail damage, damage from a tornado or hurricane and a broken windshield. The maximum amount your car insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage

This coverage provides protection when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your Lexus IS 300.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for bills for things like chiropractic care, funeral costs and X-ray expenses. They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Collision coverage protection

This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like hitting a parking meter, colliding with a tree and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Liability car insurance

Liability coverage will cover damage that occurs to other people or property by causing an accident. This coverage protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against things like loss of income, funeral expenses, emergency aid, medical expenses and medical services. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.

Money doesn’t grow on trees

In this article, we presented many ideas to compare 2004 Lexus IS 300 insurance prices online. The most important thing to understand is the more times you quote, the better likelihood of reducing your rate. You may even discover the biggest savings come from an unexpected company. These companies may cover specific market segments cheaper compared to the large companies like Allstate, Geico and Progressive.

Budget-conscious insurance can be found online and also from your neighborhood agents, so compare prices from both in order to have the best chance of saving money. There are still a few companies who may not provide online quoting and these small, regional companies work with independent agents.

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