2005 Lexus IS 300 Insurance Quotes – 5 Policy Discounts

Looking for better auto insurance rates for your Lexus IS 300? Having to pay for expensive auto insurance can take a big chunk out of your checking account and make it hard to pay other bills.

Having so many companies to choose from, it can be diffult for drivers to choose the best company.

Finding affordable coverage is easy if you know what you’re doing. If you have car insurance now, you will most likely be able to reduce your rates substantially using these methods. Although vehicle owners must comprehend how big insurance companies market insurance on the web and apply this information to your search.

Five discounts for affordable car insurance rates

Buying car insurance is not cheap, but there could be available discounts that many consumers don’t even know exist. A few discounts will be applied when you get a quote, but occassionally some discounts must be manually applied before you will receive the discount.

• Good Student Discount – This discount can earn a discount of 20% or more. The discount lasts well after school through age 25.
• Driving Data Discount – Policyholders that allow their insurance company to spy on driving manner by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates if they show good driving skills.
• Senior Citizen Rates – Seniors could receive a small decrease in premiums on IS 300 coverage.
• Paperless Signup – Some larger companies may give you up to $50 simply for signing on the web.
• Pay Early and Save – By making one initial payment instead of paying each month you may reduce your total bill.

While discounts sound great, it’s important to understand that many deductions do not apply to your bottom line cost. Most cut individual premiums such as comp or med pay. Just because it seems like having all the discounts means you get insurance for free, companies don’t profit that way.

A list of car insurance companies and a partial list of their discounts can be found below.

• State Farm may have discounts that include passive restraint, defensive driving training, Steer Clear safe driver discount, multiple autos, Drive Safe & Save, and good driver.
• Esurance offers discounts including online shopper, Switch & Save, anti-lock brakes, defensive driver, DriveSense, homeowner, and anti-theft.
• Progressive offers discounts for multi-policy, online quote discount, multi-vehicle, good student, online signing, continuous coverage, and homeowner.
• Liberty Mutual may offer discounts for multi-car, new vehicle discount, exclusive group savings, new graduate, and good student.
• Auto-Owners Insurance policyholders can earn discounts including multi-policy, anti-theft, teen driver, multiple vehicles, company car, and mature driver.
• Geico has discounts for good student, federal employee, membership and employees, daytime running lights, and air bags.

Before buying, ask all the companies which discounts you may be entitled to. Depending on the company, some discounts may not apply in your area.

Tailor your insurance coverage to you

When it comes to buying the right insurance coverage for your vehicles, there is no cookie cutter policy. Everyone’s needs are different so your insurance should reflect that These are some specific questions might point out if your insurance needs would benefit from professional advice.

• Do I need more liability coverage?
• Can I afford to pay high deductible claims out of pocket?
• Do I need PIP coverage since I have good health insurance?
• What is UM/UIM insurance?
• Is other people’s property covered if stolen from my vehicle?
• What if I owe more than I can insure my car for?

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of insurance companies in your area.

Don’t be fooled by advertising claims

Car insurance providers like State Farm, Geico and Progressive seem to constantly run ads on TV and radio. They all seem to make the same claim that drivers can save some big amount if you just switch your coverage. How does each company sell you cheaper insurance coverage? You have to listen carefully.

All the different companies provide the lowest rates for the driver that will add to their bottom line. A good example of this type of risk profile could possibly be over the age of 45, has never had a claim, and has excellent credit. Any person that matches those criteria receives the best rates and will save some money.

Insureds who may not quite match these standards will get a higher rate which usually ends up with the customer not buying. The ads say “drivers that switch” but not “all drivers who get quotes” save that kind of money. This is how companies can make the claims of big savings. This illustrates why drivers must compare free insurance quotes often. It is impossible to predict which company will have the best auto insurance rates at this point in time.

Coverages available on your policy

Learning about specific coverages of your insurance policy can be of help when determining the best coverages for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverages available from insurance companies.

Auto liability – This coverage can cover damage that occurs to a person or their property in an accident. This coverage protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims like medical services, emergency aid, attorney fees, funeral expenses and court costs. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Collision – This coverage pays for damage to your IS 300 caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like hitting a mailbox, colliding with a tree, sideswiping another vehicle, sustaining damage from a pot hole and hitting a parking meter. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. It’s also possible to choose a higher deductible to bring the cost down.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like damage from getting keyed, hail damage and a broken windshield. The maximum payout your insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Lexus IS 300.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea.

Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for immediate expenses for nursing services, chiropractic care, hospital visits and EMT expenses. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

Be Smart and Buy Smart

We just showed you a lot of techniques to shop for 2005 Lexus IS 300 insurance online. It’s most important to understand that the more price quotes you have, the better your chances of lowering your prices. Drivers may discover the biggest savings come from the least-expected company. These smaller insurers may have significantly lower prices on certain market segments compared to the large companies like State Farm, Geico and Nationwide.

When you buy insurance online, don’t be tempted to buy lower coverage limits just to save a few bucks. In many instances, consumers will sacrifice collision coverage only to regret they didn’t purchase enough coverage. The aim is to buy enough coverage at a price you can afford while not skimping on critical coverages.

Other resources

• Air Bags: Potential Dangers to Your Children (Insurance Information Insitute)
• Older Driver Statistics (Insurance Information Insitute)
• Coverage Information (Progressive Insurance)
• What does Personal Injury Protection (PIP) Cover? (Allstate)