Compare 2003 Lexus GS 300 Insurance Cost

Searching for the cheapest auto insurance rates for your Lexus GS 300? Tired of robbing Peter to pay Paul each month for auto insurance? You are no different than many other drivers.

Lots of car insurance companies contend for your insurance dollar, and it can be difficult to compare rates and get the best coverage at the lowest cost out there.

If you have car insurance now, you will most likely be able to reduce your rates substantially using these tips. Finding the best rates is not that difficult. Nevertheless, car owners do need to learn how companies compete online and take advantage of how the system works.

How to compare insurance rate quotes

To find the best insurance rates, there are several ways of comparing rates from different companies. The easiest way by far to find the cheapest 2003 Lexus GS 300 insurance rates consists of shopping online. This is quite simple and can be completed in a couple of different ways.

1. The fastest and easiest way to compare a lot of rates at once is a comparison rater form like this one (opens in new window). This quick form saves time by eliminating a different quote for each price estimate. Filling out one form will return price quotes from several companies.
2. Another way to obtain and compare quotes online requires a trip to each company website and repeat the quote process again and again. For examples sake, we’ll pretend you want comparison quotes from Auto-Owners, Liberty Mutual and State Farm. To find out each rate you need to spend time going to each site individually to enter your coverage information, which explains why we recommend starting with the first method.

   For a list of links to insurance companies in your area, click here.

3. The last method to compare price estimates is driving to different agent offices. Quoting and buying insurance online has reduced the need for local agents unless you have a complicated situation and need the trained guidance of a licensed agent. Although you can compare the best prices online and have a local agent actually service the policy.

Which method you use is up to you, but make sure you compare the same coverage limits and deductibles on every quote you get. If you are comparing different data it’s not possible to get a fair rate comparison. Slightly different coverages could skew the results. And when comparing insurance rates, know that comparing a wide range of rates will increase your chances of finding more affordable rates. Not every company does online rate quotes, so it’s important to compare rates from the smaller companies as well.

Take advantage of these premium-slashing discounts

Some companies don’t always publicize all disounts in an easy-to-find place, so here is a list some of the best known as well as some of the hidden savings tricks you should be using when you buy insurance coverage online.

• No Claims – Drivers who don’t have accidents pay less compared to policyholders that have many claims.
• Accident Waiver – This isn’t a discount exactly, but certain companies will let one accident slide without the usual rate increase so long as you are claim-free prior to the accident.
• Anti-theft System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and will save you 10% or more.
• Homeowners Pay Less – Owning your own home or condo can save a few bucks because it demonstrates responsibility.
• Employee of Federal Government – Having worked for a branch of the government may reduce rates when you quote insurance coverage on GS 300 insurance with certain companies.

One thing to note about discounts is that most discounts do not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as comp or med pay. So when it seems like having all the discounts means you get insurance for free, companies don’t profit that way.

A list of companies and their offered discounts are shown below.

• Farm Bureau offers discounts including multi-vehicle, safe driver, driver training, multi-policy, 55 and retired, good student, and renewal discount.
• MetLife may include discounts for good student, good driver, defensive driver, multi-policy, and claim-free.
• Progressive policyholders can earn discounts including online quote discount, homeowner, continuous coverage, online signing, multi-policy, good student, and multi-vehicle.
• AAA includes discounts for multi-car, good student, good driver, pay-in-full, anti-theft, and education and occupation.
• American Family has savings for bundled insurance, defensive driver, TimeAway discount, good driver, early bird, multi-vehicle, and good student.
• Geico offers premium reductions for air bags, federal employee, good student, multi-policy, anti-lock brakes, and anti-theft.
• State Farm discounts include Drive Safe & Save, safe vehicle, driver’s education, good driver, multiple autos, and anti-theft.

When getting free insurance coverage quotes, it’s a good idea to all companies you are considering which discounts you qualify for. Some discounts listed above might not be offered on policies in your area. To see a list of insurance companies with discount auto insurance rates, click here.

The Lexus GS 300 insurance rate equation

One of the most helpful ways to save on insurance coverage is to to have a grasp of some of the factors that come into play when calculating the rates you pay for insurance coverage. If you understand what influences your rates, this enables informed choices that can earn you big savings.

The following are some of the items used by companies to determine your rates.

• Your gender affects prices – Statistics demonstrate women tend to be less risk to insure than men. However, don’t assume that women are better drivers. Both genders are responsible for fender benders at about the same rate, but guys get into accidents with more damage. They also get higher numbers of serious violations like DWI (DUI) or reckless driving. Teenage male drivers have the highest risk to insure and are penalized with high insurance coverage rates.
• Your employer is a factor – Do you work in a high-stress field? Careers such as judges, social workers and dentists are shown to have the highest average rates in part from high stress and long work hours. Other occupations like farmers, engineers and homemakers get better rates on GS 300 insurance.
• A lcoverage lapse is a bad thing – Allowing your coverage to lapse will be a sure-fire way to pay more for insurance coverage. Not only will rates go up, not being able to provide proof of insurance could result in fines and jail time. You may then be required to submit proof of financial responsibility or a SR-22 with your state department of motor vehicles.
• Cars with good safety ratings means lower prices – Safer cars cost less to insure. Safe vehicles protect occupants better and better occupant protection means less money paid by your insurance company which can result in lower premiums.
• Frequent insurance claims will cost more – Insurance companies provide lower rates to people who only file infrequent claims. If you’re an insured who likes to file claims you can definitely plan on either policy cancellation or increased premiums. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
• Lower insurance coverage rates with alarm systems – Purchasing a vehicle with an alarm system can save you a little every year. Theft deterrent systems such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent your car from being stolen.
• Proper usage rating affects costs – The higher the mileage driven each year the more you’ll pay to insure your vehicle. Many insurance companies calculate prices based on their usage. Autos left parked in the garage cost less to insure than those that get driven frequently. A policy that improperly rates your GS 300 can cost quite a bit. It’s always a good idea to double check that your policy correctly shows the correct driver usage.
• Don’t get traffic citations – Attentive drivers receive lower rates as compared to those with violations. Even one ticket may increase your cost forty percent or more. Drivers who have dangerous tickets such as DUI, reckless driving or excessive speeding may be required to maintain a SR-22 with their state DMV in order to drive a vehicle legally.

Do I need special coverages?

When it comes to buying proper insurance coverage, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For instance, these questions might help in determining whether your personal situation will benefit from professional help.

• Do I need medical payments coverage since I have good health insurance?
• Should I waive the damage coverage when renting a car?
• What is PIP insurance?
• Why does it cost so much to insure a teen driver?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Am I covered if I wreck a rental car?
• How much liability insurance is required?
• Why do I only qualify for high-risk insurance?
• Is my teenager covered with friends in the car?

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.

Specific coverages for a 2003 Lexus GS 300

Knowing the specifics of your policy can help you determine the right coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on the average car insurance policy.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.

Medical expense coverage – Medical payments and Personal Injury Protection insurance pay for expenses for X-ray expenses, chiropractic care, ambulance fees, prosthetic devices and pain medications. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Collision coverage – This covers damage to your GS 300 from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as sustaining damage from a pot hole, scraping a guard rail, colliding with a tree, sideswiping another vehicle and driving through your garage door. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also choose a higher deductible to bring the cost down.

Liability car insurance – This coverage will cover damages or injuries you inflict on other’s property or people that is your fault. It protects YOU from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims like structural damage, medical services, funeral expenses and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Comprehensive protection – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hail damage, hitting a bird, damage from flooding, damage from getting keyed and theft. The maximum amount your car insurance company will pay is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

More quotes mean more savings

Cheap 2003 Lexus GS 300 insurance is available online and from local agencies, so you need to shop insurance coverage with both to have the best chance of lowering rates. Some insurance companies do not offer online quoting and these regional carriers only sell coverage through independent insurance agencies.

When shopping online for insurance coverage, make sure you don’t buy lower coverage limits just to save a few bucks. In many cases, consumers will sacrifice liability limits or collision coverage only to find out that they should have had better coverage. The aim is to get the best coverage possible for the lowest cost while not skimping on critical coverages.

More tips and info about insurance coverage can be found by following these links:

• Senior Drivers (Insurance Information Insitute)
• What are my Rights when Filing a Claim? (Insurance Information Insitute)
• Choosing an Insurance Company (Insurance Information Insitute)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Things to Know Before you Cancel Insurance (Allstate)