Lower Your 2001 Lexus IS 300 Insurance Rates

Being forced to pay for high-priced car insurance premiums can bottom out your personal savings and maybe even restrict other spending. Shopping your coverage around can be a smart way to slash your bill and have more diposable income.

Because you have many companies and agents to choose from, it’s difficult to find the right car insurance provider.

Shopping for affordable car insurance coverage is quite easy. If you are insured now or are just looking to switch companies, you can follow these tips to cut your premiums and still get good coverage. Vehicle owners only need to know the proper way to buy car insurance online.

The best way to compare car insurance rates takes advantage of the fact almost all companies actually pay money for the chance to give rate comparisons. All you need to do is provide a small amount of information such as if it has an alarm system, the make and model of your vehicles, if your license is active, and what your job is. That rating information is instantly sent to multiple companies and they respond with quotes instantly.

To find the cheapest car insurance rates, click here and enter the information requested.

Take advantage of every insurance coverage discount

Companies offering auto insurance don’t list every discount they offer in an easy-to-find place, so we took the time to find a few of the more common and the more hidden discounts that you can inquire about if you buy insurance online.

• Air Bag Discount – Cars that have air bags may qualify for discounts of 25 to 30%.
• Anti-lock Brake System – Vehicles that have anti-lock braking systems prevent accidents and the ABS can save up to 10%.
• Discounts for Responsible Drivers – Insureds who avoid accidents can pay as much as 50% less on IS 300 insurance than drivers with accidents.
• Buy New and Save – Buying a new car model can cost up to 25% less since newer vehicles have better safety ratings.
• Multiple Cars – Buying insurance for multiple cars or trucks on the same insurance coverage policy qualifies for this discount.
• Military Rewards – Being deployed in the military could mean lower rates.

While discounts sound great, it’s important to understand that most credits do not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like comp or med pay. Just because it seems like you can get free auto insurance, you’re out of luck. Any qualifying discounts will bring down the amount you pay for coverage.

Insurance companies that may include most of the discounts above include:

• American Family
• Nationwide
• MetLife
• 21st Century
• Farmers Insurance
• Allstate

When getting a coverage quote, ask each company to apply every possible discount. Some discounts may not apply everywhere.

How to know if you need help

When choosing proper insurance coverage, there is no cookie cutter policy. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions could help you determine if you may require specific advice.

• What if I don’t agree with a claim settlement offer?
• Does my 2001 Lexus IS 300 qualify for pleasure use?
• How many claims can I have before being cancelled?
• How much liability coverage do I need in my state?
• Is my 2001 Lexus IS 300 covered for flood damage?
• Do I need an umbrella policy?
• Exactly who is provided coverage by my policy?
• When would I need additional glass coverage?
• Why am I required to buy liability insurance?
• Do I need more liability coverage?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and you can get the answers you need.

Insurance rates are influenced by these factors

Multiple criteria are part of the equation when you quote your car insurance policy. Some of the criteria are obvious like your driving record, although others are more transparent like your vehicle usage or your commute time.One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that play a part in calculating auto insurance rates. If you understand what determines premiums, this enables you to make decisions that could result in lower rates.

Shown below are some of the most rate-impacting factors auto insurance companies consider when setting your prices.

• Annual mileage impacts premiums – The higher the miles on your Lexus annually the higher your rates will be. A lot of companies charge rates based on how the vehicle is used. Vehicles that do not get driven very much can get a lower rate than vehicles that have high annual mileage. An improperly rated IS 300 may be costing you higher rates. Verify your auto insurance policy states how each vehicle is driven, because it can save money.
• Premiums increase with policy add-ons – There are many extra bells and whistles that you can buy but may not be useful. Coverage for things like coverage for rental cars, accidental death, and Farm Bureau memberships are examples of these. The coverages may be enticing when discussing your needs, but if they’re wasting money eliminate the coverages to reduce your premium.
• You might want pay the inexpensive policy claims yourself – Auto insurance companies provide the best rates to people who do not file claims often. If you are a frequent claim filer, you can pretty much guarantee increased rates or even have your policy non-renewed. Auto insurance is intended for more catestrophic claims.
• Insurance is expensive for teen drivers – Teenage drivers are statistically proven to get distracted easily with other occupants in the car so they pay higher auto insurance rates. If you’ve ever had to add a teenage driver to your policy can break the bank. Older insureds have been proven to be more responsible, statistically cause fewer accidents and receive fewer citations.
• Guys are more aggressive – Over the last 50 years, statistics have shown that females take fewer risks when driving. Now that doesn’t mean men are worse drivers. Both genders cause fender benders in similar percentages, but men have costlier accidents. They also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Male teenagers have the highest risk to insure and thus pay the highest rates.
• Compare rates if you bundle your policies – Lots of insurers apply better rates to policyholders that purchase more than one policy. It’s known as a multi-policy discount. The discount can add up to five, ten or even twenty percent. Even with this discount, consumers should still compare other company rates to confirm you are receiving the best rates possible. You may still be able to find a better deal by splitting coverages up.
• Do you work long hours in a tough employer? – Do you have a high-stress occupation? Occupational choices like real estate brokers, social workers and stock brokers have higher rates than average attributed to high stress levels and lots of time spent away from family. Conversely, jobs like scientists, historians and retirees pay the least on IS 300 insurance.

Don’t believe everything you hear

Consumers can’t get away from all the ads for the lowest price car insurance by companies like Allstate, Geico and Progressive. All the ads make the point that drivers can save some big amount just by moving your coverage.

That’s great but how can every company give you a lower rate? This is the way they can do it.

All the different companies have a preferred profile for the type of driver that will not have excessive claims. A good example of this type of risk profile could possibly be a married female, has few claims, and the vehicle is rated for pleasure use. A customer getting a price quote who matches those parameters will get a cheap rate quote and is almost guaranteed to save a lot if they switch.

Consumers who do not match these standards will get more expensive rates and the customer buying from someone else. The trick companies use is to say “drivers that switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way companies can truthfully claim big savings.

This really illustrates why you absolutely need to compare as many free insurance quotes as you can. It’s just not possible to know the company that will have the best auto insurance rates at this point in time.

Car insurance coverage information

Learning about specific coverages of insurance can be of help when determining appropriate coverage and proper limits and deductibles. Insurance terms can be confusing and nobody wants to actually read their policy. Shown next are typical coverages available from insurance companies.

Liability auto insurance – Liability insurance protects you from damage that occurs to other people or property in an accident. It protects YOU from legal claims by others, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. 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 coverage pays for things like repair bills for other people’s vehicles, medical services and bail bonds. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive coverage – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things like vandalism, falling objects and rock chips in glass. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Because many people 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 very important. Most of the time these coverages are similar to your liability insurance amounts.

Collision coverage – Collision coverage covers damage to your IS 300 from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like colliding with a tree, scraping a guard rail, rolling your car, hitting a mailbox and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. You can also choose a higher deductible to get cheaper collision coverage.

Medical payments coverage and PIP – Med pay and PIP coverage kick in for expenses like surgery, X-ray expenses, funeral costs, rehabilitation expenses and doctor visits. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Keep this in mind

As you go through the steps to switch your coverage, it’s very important that you do not skimp on coverage in order to save money. There have been many situations where an insured cut comprehensive coverage or liability limits and learned later that the few dollars in savings costed them thousands. Your objective should be to purchase plenty of coverage for the lowest price, but do not sacrifice coverage to save money.

We just showed you a lot of techniques to get a better price on 2001 Lexus IS 300 insurance. The key thing to remember is the more companies you get rates for, the better likelihood of getting cheaper insurance. You may even find the best prices are with a small mutual company. Regional companies may cover specific market segments cheaper as compared to the big name companies such as Progressive and Geico.

Even more information is available at these sites:

• Speed and Speed Limit FAQ (iihs.org)
• Eight Auto Insurance Myths (Insurance Information Insitute)
• How do I File a Claim? (Insurance Information Insitute)
• Vehicle Insurance (Wikipedia)