2001 Lexus ES 300 Insurance Rates – 5 Policy Discounts

Trying to find the cheapest auto insurance rates for your Lexus ES 300? Have you finally had enough of wondering where the money will come from each month for auto insurance? You have the same problem as many other drivers.

Drivers have many car insurance companies to pick from, and though it is a good thing to have a selection, so many choices can make it hard to find the lowest cost provider.

Consumers should take time to get comparison quotes on a regular basis due to the fact that insurance prices change frequently. Even if you think you had the best price on ES 300 insurance at your last renewal the chances are good that you can find a lower rate quote today. Don’t believe everything you read about auto insurance on the web, but in a few minutes you can learn a bunch of ideas how to find affordable auto insurance.

How to get insurance quotes

To find low cost insurance coverage quotes, there are several ways to compare rate quotes from many available insurance companies in your state. The easiest way to find competitive 2001 Lexus ES 300 insurance rates is to get quotes online. This is very easy and can be done in a couple of different ways.

1. The single most time-saving way to get quotes for comparison is a comparison rater form (click to open form in new window). This easy form keeps you from doing multiple quote forms to each individual insurance company. One form submission gets insurance cost estimates from many national carriers.
2. A more difficult way to find lower rates requires a visit to the website for every company you want to comare to complete a price quote. For instance, we’ll pretend you want to compare rates from State Farm, Geico and Progressive. You would be required to navigate to each company’s site and enter your policy data, which is why most consumers use the first method. For a handy list of car insurance company links in your area, click here.

The approach you take is up to you, just be sure to compare apples-to-apples coverage limits and deductibles on every quote. If you have different values for each quote it will be impossible to make an equal comparison. Slightly different coverage limits can make a big difference in price. And when price shopping your coverage, comparing a large number of companies increases your odds of finding the best offered rates.

Well known brands might not be cheapest

Insurance companies such as Progressive, Geico, Allstate and State Farm constantly bombard you with television, radio, and online ads. All the ads make the same claim that you’ll save big if you get a free insurance coverage quote and switch your policy. It sounds good, but how can they all claim to save you money? This is the trick they use.

All companies have underwriting criteria for the right customer that makes them money. An example of a desirable insured could possibly be between the ages of 30 and 45, has had continuous coverage, and has a short commute. Any customer that meets those criteria will probably get cheap rates and will save money with a new company.

Consumers who are not a match for those criteria will probably have to pay higher premium rates and ends up with business going elsewhere. If you listen to the ad wording, they say “drivers that switch” not “everybody who quotes” save the amount stated. That’s why companies can truthfully lure you into getting a quote.

This really emphasizes why you need to compare many company’s premium rates. It’s not possible to predict which insurance company will have better car insurance rates than you’re paying now.

More discounts mean affordable premiums

Car insurance is not cheap, but there could be significant discounts to help offset the cost. A few discounts will be applied when you complete an application, but occassionally some discounts must be inquired about prior to getting the savings.

• Life Insurance – Not all companies offer life insurance, but some may give you a discounted premium rate on car insurance if you buy life insurance.
• Full Payment Discount – If you pay your entire premium ahead of time rather than spreading payments over time you can avoid monthly service charges.
• Driving Data Discount – Drivers who agree to allow data collection to scrutinize their driving habits through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive may see discounts as long as they are good drivers.
• Paperwork-free – A few auto insurance companies provide a small discount for buying your policy on the web.
• Save with More Vehicles Insured – Buying a policy with multiple vehicles on the same auto insurance policy qualifies for this discount.

Please keep in mind that some credits don’t apply to your bottom line cost. Most only reduce individual premiums such as medical payments or collision. So when the math indicates having all the discounts means you get insurance for free, you aren’t that lucky.

A list of companies and a selection of discounts are included below.

• Farmers Insurance offers discounts including distant student, switch companies, multi-car, pay in full, mature driver, and business and professional.
• Esurance offers discounts for safety device, renters, multi-car, paid-in-full, good student, and defensive driver.
• State Farm has savings for safe vehicle, Steer Clear safe driver discount, multiple policy, good student, Drive Safe & Save, good driver, and defensive driving training.
• Geico may have discounts that include multi-vehicle, seat belt use, five-year accident-free, emergency military deployment, and defensive driver.
• Allstate may offer discounts for EZ pay plan discount, early signing, anti-theft, anti-lock brakes, resident student, and farm vehicle.

When getting free insurance coverage quotes, it’s a good idea to each company which discounts they offer. Savings might not be offered in your area. To see auto insurance companies with discount rates, click this link.

It’s not one size fits all

When choosing coverage, there really is no single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover if your insurance needs may require specific advice.

• How can I force my company to pay a claim?
• What are the financial responsibility laws in my state?
• Should I rate my 2001 Lexus ES 300 as pleasure use or commute?
• Should I waive the damage coverage when renting a car?
• Am I covered when driving in Canada or Mexico?
• Do I need rental car coverage?
• Am I better off with higher deductibles on my 2001 Lexus ES 300?
• When should I buy a commercial auto policy?

If it’s difficult to answer those questions but a few of them apply then you might want to talk to an agent. To find an agent in your area, complete this form or click here for a list of insurance coverage companies in your area.

Auto insurance coverages

Knowing the specifics of your car insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. These are typical coverage types offered by car insurance companies.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for prosthetic devices, nursing services and EMT expenses. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist coverage – This provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2001 Lexus ES 300.

Because many people have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Collision – Collision coverage pays for damage to your ES 300 resulting from a collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like hitting a mailbox, sustaining damage from a pot hole, damaging your car on a curb and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.

Auto liability insurance – This will cover injuries or damage you cause to people or other property that is your fault. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims like repair bills for other people’s vehicles, funeral expenses, repair costs for stationary objects and court costs. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Comprehensive coverage – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as hitting a bird, vandalism, a broken windshield and theft. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Don’t be a big spender

More affordable insurance coverage can be found both online in addition to many insurance agents, so get free insurance coverage quotes from both of them to get a complete price analysis. A few companies may not have online rate quotes and usually these regional insurance providers prefer to sell through local independent agents.

As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. There have been many cases where an insured dropped liability limits or collision coverage only to regret at claim time that the small savings ended up costing them much more. Your strategy should be to buy a smart amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.

For more information, feel free to browse these articles:

• Property Damage Coverage (Liberty Mutual)
• How to Avoid Buying a Flooded Car (Insurance Information Insitute)
• State Laws for Cellphones and Texting (iihs.org)
• All About Airbag Safety (State Farm)
• Teen Driver Statistics (Insurance Information Insitute)