Lower Your 2006 Lexus IS 250 Insurance Rates

Are you baffled by the sheer number of auto insurance companies in your area? Many other drivers are too. Consumers have such a large number of options that it can be a challenge to compare prices.

Smart consumers take time to get comparison quotes at least once a year since rates tend to go up over time. Despite the fact that you may have had the lowest premium rates on IS 250 coverage six months ago a different company probably has better prices today. Ignore everything you know about auto insurance because I’m going to teach you the fastest way to lower your annual insurance bill.

Finding the best rates is not that difficult. If you are paying for car insurance now, you should be able to save some money using these methods. Nevertheless, vehicle owners can benefit by having an understanding of the way companies price online insurance.

Smart buyers can lower insurance rates

It’s important that you understand the factors that come into play when calculating the price you pay for insurance. If you know what controls the rates you pay, this enables informed choices that may reward you with big savings. Lots of things are used in the calculation when you quote your car insurance policy. A few of the factors are predictable like a motor vehicle report, but some are not as apparent such as your marital status or your commute time.

• Alarm systems lowers premiums – Choosing to buy a car with a theft deterrent system can help bring down rates. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent auto theft and help lower rates.
• Liability protection limits should be high – Liability coverage kicks in if you are determined to be liable for physical damage or personal injury to other. It provides for a legal defense which can cost a lot. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.
• Do safer cars cost less to insure? – Vehicles with high crash test scores cost less to insure. Vehicles engineered for safety have better occupant injury protection and fewer injuries means less money paid by your insurance company which can result in lower premiums. If your Lexus IS 250 scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it may cost less to insure.
• Annual miles is a factor – The more miles you rack up on your Lexus in a year the more you’ll pay to insure your vehicle. Many insurance companies charge to insure your cars based upon how the vehicle is primarily used. Autos that sit idle most of the time cost less to insure than vehicles that have high annual mileage. An improperly rated IS 250 is just wasting money. Ask your agent if your policy is showing annual mileage.
• Do you know your deductibles? – Your deductibles are how much you are willing to pay if the claim is covered. Protection for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your car. Some examples of covered claims are colliding with a stationary object, vandalism, or theft of your vehicle. The higher the amount you’re willing to pay, the less your insurance will be on IS 250 coverage.
• High credit history translates to low costs – An insured’s credit history will be a significant factor in calculating your insurance rates. People with good credit tend to be more responsible than drivers who have lower credit scores. If your credit score can use some improvement, you could save money insuring your 2006 Lexus IS 250 by spending a little time repairing your credit.
• Higher rates for specific jobs – Did you know that where you work can have an impact on rates? Careers like fire fighters, executives and financial analysts are shown to have higher premiums than the average policyholder due to intense work-related stress and long work days. On the flip side, professions such as professors, historians and retirees pay lower than average rates on IS 250 coverage.
• Multiple policies with one company – Some companies give discounts to insureds that purchase more than one policy such as combining an auto and homeowners policy. Discounts can amount to 10 percent or more. Even though this discount sounds good, it’s always a smart idea to compare other company rates to guarantee you are still saving the most.There is a good possibility that you can find better rates even if you insure with multiple companies

Discount insurance rates

Car insurance can cost a lot, but there are discounts available that can help lower your rates. Certain credits will be shown at the time of quoting, but a few need to be requested specifically before you get the savings.

• Drivers Ed for Students – Require your teen driver to participate in a local driver’s education class if it’s offered in school.
• Drive Safe and Save – Accident-free drivers can save up to 40% or more on their insurance quote on IS 250 coverage compared to accident prone drivers.
• No Claims – Insureds with no claims or accidents have much lower rates in comparison to frequent claim filers.
• Distant College Student Discount – who live away from home to go to college without a vehicle on campus may be able to be covered for less.
• Auto/Home Discount – If you can combine your homeowners and auto policy and place coverage with the same company you may earn 10% to 20% off each policy.
• Passive Restraint Discount – Cars that have air bags or motorized seat belts may earn rate discounts of 20 to 30 percent.
• Discounts for Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts may be able to save a few bucks on the medical payments or PIP coverage costs.

Keep in mind that most credits do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as collision or personal injury protection. Despite the appearance that having all the discounts means you get insurance for free, insurance companies aren’t that generous.

A few popular companies and some of their more popular discounts can be read below.

• Geico discounts include federal employee, daytime running lights, multi-policy, anti-theft, seat belt use, and membership and employees.
• MetLife offers premium reductions for good driver, multi-policy, accident-free, good student, defensive driver, and claim-free.
• State Farm has discounts for safe vehicle, passive restraint, good driver, accident-free, good student, and driver’s education.
• Progressive may have discounts that include multi-vehicle, online signing, continuous coverage, homeowner, online quote discount, good student, and multi-policy.
• Mercury Insurance policyholders can earn discounts including location of vehicle, anti-theft, multi-policy, type of vehicle, professional/association, good driver, and annual mileage.
• 21st Century offers discounts including theft prevention, driver training, teen driver, automatic seat belts, early bird, and good student.
• Allstate offers discounts for resident student, teenSMART discount, premier plus, multi-policy, good payer, early signing, and anti-theft.

Before you buy a policy, ask each company which discounts can lower your rates. Depending on the company, some discounts may not be available in your area. For a list of insurers that offer the discounts shown above, click here to view.

Are insurance coverage companies telling the truth?

Big name companies like Allstate, Geico and Progressive seem to constantly run ads on TV and radio. All the ads convey the message of big savings after switching your coverage. How do they all make almost identical claims? Here is the trick they use.

All the different companies can use profiling for the type of driver that will add to their bottom line. A good example of this type of insured may need to be between the ages of 30 and 45, is a homeowner, and has excellent credit. Anyone who fits those characteristics will most likely get cheap premium rates and will most likely cut their rates substantially.

People who may not quite match these standards will be charged higher premiums and business not being written. The ads state “people that switch” not “everybody who quotes” can save as much as they claim. That’s why companies can truthfully make claims like that. Because of these techniques, you should get insurance quotes as often as possible. Because you never know the company that will provide you with the cheapest prices.

Tailor your car insurance coverage to you

When choosing coverage, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that may help you determine whether your personal situation would benefit from an agent’s advice.

• Is rental equipment covered for theft or damage?
• Am I covered if I hit my neighbor’s mailbox?
• When does my teenage driver need to be added to my policy?
• Do I pay less for low miles?
• Is motorclub coverage worth it?
• Should I drop comprehensive coverage on older vehicles?

If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form.

Car insurance coverage options for a Lexus IS 250

Learning about specific coverages of car insurance can be of help when determining which coverages you need and proper limits and deductibles. Car insurance terms can be confusing and nobody wants to actually read their policy.

Medical costs insurance

Coverage for medical payments and/or PIP kick in for bills for things like chiropractic care, funeral costs, nursing services, surgery and doctor visits. They can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision

This covers damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like falling objects, theft, a tree branch falling on your vehicle and fire damage. The most a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Collision insurance

This coverage pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage pays for things like sustaining damage from a pot hole, driving through your garage door and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. It’s also possible to choose a higher deductible to bring the cost down.

UM/UIM Coverage

This gives you protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and also any damage incurred to your Lexus IS 250.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Auto liability

Liability coverage will cover damages or injuries you inflict on other people or property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 which means a limit of $100,000 per injured person, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against things such as repair costs for stationary objects, bail bonds, loss of income, court costs and structural damage. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Stretch your dollar

When shopping online for car insurance, make sure you don’t buy lower coverage limits just to save a few bucks. There have been many situations where an insured cut physical damage coverage and learned later they didn’t have enough coverage. Your goal is to purchase a proper amount of coverage at a price you can afford, but do not sacrifice coverage to save money.

We’ve covered many ideas to lower your 2006 Lexus IS 250 insurance rates. The key thing to remember is the more price quotes you have, the higher your chance of finding cheap insurance. You may be surprised to find that the lowest rates come from a company that doesn’t do a lot of advertising.

Consumers switch companies for a variety of reasons including denial of a claim, an unsatisfactory settlement offer, questionable increases in premium or even poor customer service. Regardless of your reason, choosing a new company can be easy and end up saving you some money.

Much more information about car insurance can be found below:

• Smart Auto Insurance Tips (Insurance Information Insitute)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
• Side Impact Crash Tests (iihs.org)
• Older Drivers FAQ (iihs.org)