2014 Lexus GS 350 Car Insurance Cost

Paying for expensive Lexus GS 350 insurance can sap your budget and make it tough to pay other bills. Performing a rate comparison can help to ensure you are getting the best deal.

There are many insurance companies to buy insurance from, and even though it’s nice to be able to choose, it can be more challenging to adequately compare rates.

How do insurance companies determine Lexus GS 350 insurance prices?

Consumers need to have an understanding of the rating factors that play a part in calculating the level of your policy premiums. When consumers understand what influences your rates, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

The list below includes just a few of the factors utilized by car insurance companies to help set your rates.

• Where you reside is a factor – Having an address in smaller towns and rural areas of the country has it’s advantages when talking about insurance. Residents of big cities regularly have more road rage incidents and a longer drive to work. Fewer drivers means fewer accidents.
• Rates can be impacted by your employer – Occupations like lawyers, executives and dentists usually pay higher rates than average because of stressful work requirements and long work days. Conversely, jobs such as professors, students and the unemployed generally pay rates lower than average on GS 350 insurance.
• Only buy incidental coverages you need – There are a lot of extra bells and whistles that can add up if you don’t pay attention. Coverage for things like personal injury protection, accidental death, and additional equipment coverage could be just wasting money. They may seem like a good idea at first, but if you’ve never needed them in the past consider taking them off your policy.
• Younger drivers pay higher premiums – Youthful drivers are proven to be inattentive when at the wheel of a vehicle therefore insurance rates are much higher. More experienced drivers have been proven to be more responsible, tend to file fewer claims and tend to be get fewer driving tickets.
• Do you qualify for a multi-policy discount? – Most major insurance companies give a discount to policyholders that buy multiple policies in the form of a multi-policy discount. The discount can be as much as ten percent or more Even with this discount applied, it’s always a smart idea to get quotes from other companies to verify if the discount is saving money.There is a chance you can save more without the discount by splitting coverages up.
• Traffic violations inflate rates – Whether or not you get tickets impacts premiums far more than you think. Only having one chargable violation can increase the cost of insurance to the point where it’s not affordable. Attentive drivers get better rates than bad drivers. Drivers who have flagrant violations like reckless driving, hit and run or driving under the influence may be required to complete a SR-22 with their state motor vehicle department in order to keep their license.
• Small claims can cost you – If you’re an insured who likes to file claims you shouldn’t be surprised to get higher rates. Car insurance companies generally give discounts to people who only file infrequent claims. Your insurance policy is meant to be used in the event of more catestrophic claims.

How to lower your insurance cost

Effectively comparing insurance prices can be a daunting task if you aren’t aware of the easiest way. You can spend your afternoon talking to insurance agencies in your area, or you could save time and use online quoting to get the quickest rates.

All the larger companies take part in a program that enables customers to enter their coverage request one time, and each company then gives them pricing. This prevents consumers from doing quotation requests to each individual insurance company. To compare rates now click here to open in new window.

The one downside to doing it this way is you cannot specify which providers to get pricing from. If you would rather choose from a list of companies to compare rates, we have assembled a list of companies who write insurance in your area. View list of insurance companies.

You can choose any of those ways to find more affodable coverage, but do your best to use exactly the same deductibles and coverage limits on every quote. If you have different liability limits you will not be able to determine which rate is truly the best. Quoting even small variations in limits could skew the results. And when comparing insurance rates, know that more quotes helps locate a lower rate than you’re paying now. Some regional insurers cannot provide online rate quotes, so you also need to get quotes on coverage from those companies, too.

The largest companies are not always cheapest

Big name companies like Geico, State Farm and Progressive continually stream ads on television and other media. All the companies make the same claim that people will save if you switch your insurance coverage to their company. That’s great but how can every company charge you less for car insurance? This is the way they can do it.

Different companies quote their cheapest rates for the type of driver that makes them money. An example of a preferred risk might have to be married and over the age of 30, has a clear driving record, and drives less than 7,500 miles a year. A propective insured who matches that profile receive the lowest rate quotes and have a good chance to save if they switch.

Potential customers who fall short of these standards will get higher premium rates which results in business not being written. The trick companies use is to say “customers that switch” but not “all drivers who get quotes” can get the lowest rates when switching. That’s the way companies can lure you into getting a quote.

This really illustrates why you need to quote coverage with many companies. It is just not possible to predict with any certainty which company will have the lowest prices for your situation.

Discounts for lower-cost insurance coverage rates

Car insurance can cost a lot, but you might find some hidden discounts to reduce the price significantly. Many of these discounts will be applied automatically at the time of purchase, but some must be asked about before being credited.

• Save with a New Car – Buying insurance on a new vehicle can save up to 30% since newer models have better safety ratings.
• 55 and Retired – If you’re over the age of 55, you may receive a discount up to 10% on GS 350 insurance.
• Active Service Discounts – Being on active deployment in the military can result in better prices.
• Multiple Cars – Having all your vehicles on one policy could earn a price break for each car.
• Fewer Miles Equal More Savings – Driving less can earn lower prices due to less chance of an accident.
• Passive Restraints – Cars that have air bags or automatic seat belts may earn rate discounts as much as 30%.
• Discounts for Safe Drivers – Drivers without accidents can get discounts for up to 45% lower rates on GS 350 insurance compared to rates paid by drivers with frequent claims.
• Payment Method – If paying your policy premium upfront rather than spreading payments over time you may reduce your total bill.

One last thing about discounts, many deductions do not apply to your bottom line cost. A few only apply to individual premiums such as comprehensive or collision. Even though it appears it’s possible to get free car insurance, companies don’t profit that way.

Car insurance companies who might offer these benefits include:

• Farm Bureau
• State Farm
• Progressive
• Allstate
• Nationwide
• MetLife

It’s a good idea to ask every prospective company how you can save money. Savings may not apply to policyholders in every state.

You may need specialized car insurance coverage

When it comes to buying adequate coverage, there isn’t really a one size fits all plan. Everyone’s situation is a little different so your insurance should reflect that Here are some questions about coverages that may help you determine whether or not you would benefit from an agent’s advice.

• Should I bundle my homeowners policy with my auto?
• Is a new car covered when I drive it off the dealer lot?
• Should I have combined single limit or split liability limits?
• Will filing a claim cost me more?
• Is my 2014 Lexus GS 350 covered for flood damage?
• Does insurance cover tools stolen from my truck?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Car insurance 101

Understanding the coverages of your policy helps when choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Shown next are the usual coverages found on most car insurance policies.

Liability coverage – This will cover damages or injuries you inflict on other’s property or people by causing an accident. It protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage pays for claims like emergency aid, repair bills for other people’s vehicles and legal defense fees. The amount of liability coverage you purchase is a decision to put some thought into, but buy higher limits if possible.

Uninsured or underinsured coverage – This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Lexus GS 350.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time these limits are identical to your policy’s liability coverage.

Collision coverage – Collision insurance pays for damage to your GS 350 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims such as crashing into a building, sustaining damage from a pot hole, rolling your car, backing into a parked car and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive protection – This coverage 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 insurance covers claims such as a broken windshield, hitting a bird, damage from getting keyed and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical expense coverage – Med pay and PIP coverage reimburse you for expenses for doctor visits, funeral costs and nursing services. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Quote more, save more

In this article, we presented quite a bit of information on how to shop for 2014 Lexus GS 350 insurance online. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding affordable insurance. You may even discover the biggest savings come from an unexpected company. Regional companies can often provide lower rates in certain areas than their larger competitors like Allstate, Geico and Progressive.

As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. Too many times, drivers have reduced liability coverage limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your strategy should be to buy enough coverage at an affordable rate, but do not skimp to save money.

Cheaper car insurance can be purchased on the web in addition to local insurance agencies, so you need to shop insurance with both so you have a total pricing picture. Some insurance companies don’t offer internet price quotes and many times these smaller providers only sell coverage through local independent agencies.

Other resources

• Bodily Injury Coverage (Liberty Mutual)
• Side Impact Crash Tests (iihs.org)
• Comprehensive Coverage (Liberty Mutual)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)