Having to pay for overpriced Lexus IS 300 insurance can empty your budget and possibly require postponing other expenditures. Comparing rates annually can lower your rates and help to ensure you are getting the best deal.
With so many choices, it can be hard to locate a more affordable insurer.
Discount auto insurance quotes
Some insurers do not advertise all possible discounts in a way that’s easy to find, so below is a list both the well known and the harder-to-find credits available to lower your premiums when you .
- Waiver for an Accident – Not a discount per se, but companies like Allstate, State Farm and GEICO permit an accident without raising rates so long as you are claim-free prior to being involved in the accident.
- Senior Discount – Mature drivers may be able to get a small discount on rates for IS 300 coverage.
- Discount for Life Insurance – Larger insurance carriers have a discounted rate on car insurance if you buy life insurance.
- Theft Prevention Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems prevent vehicle theft and that can save you a little bit as well.
- Multi-policy Discount – If you can combine your auto and homeowners policy and insure them with the same company you could get a discount of 10% to 20% off each policy.
- Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to wear their seat belts may be able to save a few bucks on medical payment and PIP coverage.
- Homeowners Pay Less – Simply owning a home may trigger a policy discount on auto insurance because of the fact that having a home means you have a higher level of financial diligence.
- Early Payment Discounts – By making one initial payment rather than paying monthly you can avoid monthly service charges.
- Paperwork-free – Many insurance companies will give a small break on the internet.
It’s important to understand that many deductions do not apply to the entire policy premium. Some only reduce individual premiums such as liability and collision coverage. Just because you may think adding up those discounts means a free policy, you aren’t that lucky. Any qualifying discounts will positively reduce your auto insurance premiums.
To find auto insurance companies with the best discounts, click this link.
The are a couple different ways to obtain and compare prices from local auto insurance companies. By far the easiest way to comparison shop is to use the internet to compare rates. This can be done in just a few minutes using one of these methods.
- Probably the best way consumers can make multiple comparisons would be an industry-wide quote request form (click to open form in new window). This type of form keeps you from doing repetitive form submissions for every prospective company. In just a few minutes this one form gets coverage cost estimates from all major companies.
- Another way to shop for auto insurance online consists of visiting each company’s website to complete a price quote. For instance, let’s say you want to see prices from Nationwide, State Farm and GEICO. To find out each rate you need to spend time going to each site individually and repeatedly enter your information, and that explains why we recommend the first method.
For a list of links to companies insuring cars in your area, click here.
- The hardest way to shop rates is calling or driving to each insurance agency near you. The ability to buy insurance online eliminates this option unless you prefer the professional guidance that can only be provided by a licensed insurance agent. It is possible to find lower rates online but purchase the actual policy in an agency.
It’s your choice how you get your quotes, but make sure you use identical coverage limits on every quote you get. If you are comparing different liability limits then you won’t be able to determine the lowest rate for your Lexus IS 300. Slightly different insurance coverages or limits can make a big difference in price. Just keep in mind that comparing more quotes helps improve the odds of finding better pricing. Some insurance companies are not set up to provide online price quotes, so you also need to get prices from the smaller companies as well.
How Insurers Calculate Lexus IS 300 Insurance Prices
Multiple criteria are part of the calculation when you get a price on insurance. Some are obvious like your driving record, but others are not as apparent such as your credit history or your financial responsibility. 
- Save money with GPS tracking and theft deterrents – Driving a car with a theft deterrent system can help lower your premiums. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms all hinder your vehicle from being stolen.
- Experienced drivers are lower risk – Young drivers have a tendency to be easily distracted with other occupants in the car so they pay higher auto insurance rates. If you’ve ever had to add a beginning driver onto a policy can break the bank. Older people are viewed as being more responsible, cause fewer claims and accidents .
- Get married and get better rates – Being married can get you a discount on your auto insurance policy. It means you’re more stable financially it has been statistically shown that married drivers tend to file fewer claims.
- Gaps in coverage mean higher rates – Not maintaining insurance can get you a ticket and companies may charge more for letting your coverage lapse. Not only will rates go up, being ticketed for driving with no insurance might get you a steep fine or even jail time. You may have to file a SR-22 with your state motor vehicle department.
- Liability risk factors in – Your policy’s liability coverage provides coverage when you are found liable for personal injury or accident damage. Liability insurance provides for a legal defense to defend your case. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.
- Cars with good safety ratings save money – Cars with high safety ratings cost less to insure. Safer cars reduce injuries and fewer serious injuries means less money paid by your insurance company and cheaper rates on your policy.
Compare prices or from insurance agents
A small number of people still prefer to have an agent’s advice and that is recommended in a lot of cases A nice benefit of comparing auto insurance online is you may find lower rates and still buy from a local agent.
After filling out this form (opens in new window), your insurance coverage information is sent to local insurance agents that give free quotes to get your business. You never need to find an agent as quotes are delivered directly to your email. You can find better rates and an insurance agent to talk to. If for some reason you want to get a rate quote from a specific company, you would need to search and find their rate quote page to submit a rate quote request.
Choosing an company requires you to look at more than just the bottom line cost. Here are some questions to ask:
- Does the agent have a valid license to sell insurance in your state?
- Do they see any coverage gaps in your plan?
- Are they actively involved in the community?
- How long has their agency been in business?
- What is the financial rating for the quoted company?
- Does the quote include credit and driving reports?
- Are there any hidden costs in their price quote and does it include driving and credit history?
If you prefer to buy auto insurance from a reliable insurance agent, there are two different types of agents and how they function. Insurance agencies can be described as either independent agents or captive agents depending on their employer.
Captive Agencies
Agents of this type can only place business with one company and examples are Farmers Insurance, American Family, State Farm and Allstate. Captive agencies are unable to compare other company’s rates so it’s a take it or leave it situation. These agents are very knowledgeable on what they offer which helps overcome the inability to quote other rates.
Independent Insurance Agents
These type of agents do not work for one specific company so they can quote policies amongst many companies and find the cheapest auto insurance rates. If they find a cheaper price, the business is moved internally and you don’t have to do anything. If you need lower rates, it’s recommended you compare quotes from at least one independent agent so that you have a good selection of quotes to compare.
To locate insurance agencies near you, please see this list of insurance agencies in your state.
Insurance advertising tricks
Big name companies like Progressive, Allstate and GEICO consistently run television, radio, and online ads. All the ads try to convey promises about how much you will save if you switch your coverage. But how can every company charge you a lower premium? This is the trick they use.
Insurance providers give the cheapest rates for the type of customer that will most likely be profitable. For instance, this type of risk profile may be between 30 and 50, has no prior claims, and the vehicle is rated for pleasure use. Any customer that matches those criteria will get low premium rates and most likely will save quite a bit of money when switching.
People who may not quite match these standards will have to pay higher premium rates which leads to the customer buying from a different company. If you pay attention, the ads say “drivers who switch” not “everybody who quotes” save that much money. That’s why companies can make it sound like they have such great premium rates. Because each company has a different risk profile, it is so important to compare many company’s premium rates. Because you cannot predict which company will have the best car insurance rates.
Smart consumers save more
As you prepare to switch companies, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced full coverage only to find out that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy the best coverage you can find for the lowest price and still be able to protect your assets.
We just presented some good ideas how to lower your Lexus IS 300 insurance rates. The key concept to understand is the more providers you compare, the higher the chance of saving money. Drivers may discover the biggest savings come from the smaller companies. They can often insure niche markets at a lower cost than their larger competitors like State Farm or Progressive.
