2017 Lexus IS 350 Insurance Cost in 2024

Having to pay for overpriced auto insurance can draw down your savings and make it hard to pay other bills. Price shopping at each renewal is recommended to slash your bill and have more disposable income.

Many car insurance companies compete for your hard-earned dollar, and it can be difficult to compare rates and get the best coverage at the best price available.

You should make it a habit to price shop coverage yearly because prices change regularly. Even if you think you had the best deal on IS 350 coverage last year you can probably find a better premium rate now. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to one of the quickest ways to lower your rates without sacrificing coverage.

If you have car insurance now, you should be able to cut costs considerably using these methods. Finding affordable coverage is not that difficult. But vehicle owners must know how insurance companies price online insurance and take advantage of how the system works.

You may qualify for discounts

Not too many consumers would say auto insurance is affordable, but discounts can save money and there are some available that may help make it more affordable. A few discounts will automatically apply at quote time, but a few must be manually applied before you will receive the discount.

• Military Rewards – Being on active deployment in the military could be rewarded with lower rates.
• ABS Braking Discount – Vehicles that have anti-lock braking systems prevent accidents and will save you 10% or more.
• Buy New and Save – Adding a new car to your policy can get you a discount since new model year vehicles have better safety ratings.
• Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to buckle up could save 15% off the medical payments premium.
• Theft Deterrent System – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently and will qualify for a discount on a auto insurance quote.
• Senior Citizen Rates – Mature drivers can get a discount up to 10% on IS 350 coverage.
• Early Renewal Discounts – Select larger companies give a discount for signing up early. This discount can save up to 10%.
• Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. The good student discount can last up until you turn 25.
• Multi-car Discount – Having multiple cars or trucks on a single policy can get a discount on all vehicles.

Discounts lower rates, but most of the big mark downs will not be given to your bottom line cost. Most only apply to individual premiums such as comp or med pay. So when the math indicates it’s possible to get free car insurance, nobody gets a free ride.

A few of the larger companies and their possible discounts are included below.

• Esurance may include discounts for multi-policy, anti-theft, renters, homeowner, defensive driver, Switch & Save, and anti-lock brakes.
• The Hartford has discounts for air bag, driver training, vehicle fuel type, good student, anti-theft, bundle, and defensive driver.
• AAA may have discounts that include good student, AAA membership discount, pay-in-full, anti-theft, and education and occupation.
• GEICO offers premium reductions for anti-lock brakes, anti-theft, multi-policy, multi-vehicle, membership and employees, driver training, and military active duty.
• State Farm discounts include student away at school, multiple policy, driver’s education, good student, Drive Safe & Save, and accident-free.

If you need lower rates, check with every company to apply every possible discount. Some credits might not be offered on policies everywhere.

Get lower-cost car insurance with these tips

Consumers need to have an understanding of some of the elements that play a part in calculating your policy premiums. If you have a feel for what determines base rates, this empowers consumers to make smart changes that could result in lower premium levels.

The itemized list below are a partial list of the pieces companies use to determine your premiums.

• Do you qualify for a multi-policy discount? – Some insurance companies give discounts to people who have multiple policies with them, otherwise known as a multi-policy discount. The discount can be ten or even fifteen percent. If you currently are using one company, consumers should still comparison shop to help guarantee you have the best rates.
• Five star crash test rating saves money – Cars with five star safety ratings tend to have better insurance rates. These vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries means lower claim amounts and lower rates for you. If the Lexus IS 350 has ratings of a minimum four stars on Safercar.gov it is probably cheaper to insure.
• Car insurance policy lapses lead to higher rates – Letting your insurance expire will be a fast way to trigger a rate increase. In addition to paying higher premiums, getting caught without coverage can result in fines or a revoked license. You may then be required to file a SR-22 with your state department of motor vehicles.
• Cheaper rates after marriage – Your spouse helps lower the price compared to being single. Having a spouse translates into being more mature than a single person and insurance companies reward insureds because drivers who are married are more cautious.
• Save money with theft deterrents – Choosing a vehicle that has an advanced theft prevention system can earn a premium discount. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft and help bring rates down.
• Your career may increase prices – Did you know your career choice can influence rates? Jobs such as doctors, executives and stock brokers generally have higher premium rates attributed to high stress levels and lengthy work days. Conversely, occupations such as professors, historians and performers receive lower rates on IS 350 coverage.

There’s no such thing as the perfect car insurance policy

When buying proper insurance coverage for your vehicles, there really is no cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might point out if your insurance needs might need an agent’s assistance.

• Do I need more liability coverage?
• Do I need replacement cost coverage?
• Why do I need rental car insurance?
• Where can I get insurance after a DUI in my state?
• Should I waive the damage coverage when renting a car?
• Is my custom paint covered by insurance?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed insurance agent. If you don’t have a local agent, simply complete your zip code.

Insurance policy specifics

Understanding the coverages of your insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. These are typical coverage types offered by insurance companies.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Lexus IS 350.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Auto collision coverage

This coverage pays for damage to your IS 350 from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as damaging your car on a curb, backing into a parked car, rolling your car, colliding with another moving vehicle and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to save money on collision insurance.

Comprehensive insurance

This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as vandalism, rock chips in glass, fire damage and a tree branch falling on your vehicle. The maximum payout a insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Liability car insurance

Liability coverage can cover injuries or damage you cause to other’s property or people. It protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 which means $100,000 bodily injury coverage, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability insurance covers claims like attorney fees, medical expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy higher limits if possible.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for short-term medical expenses for nursing services, pain medications, chiropractic care, X-ray expenses and surgery. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants as well as being hit by a car walking across the street. PIP is only offered in select states but can be used in place of medical payments coverage

One last thing

We’ve covered quite a bit of information on how to lower your 2017 Lexus IS 350 insurance premium rates. The key thing to remember is the more quotes you get, the higher your chance of finding affordable auto insurance. Drivers may discover the best premium rates are with some of the smallest insurance companies. Regional companies may have significantly lower prices on certain market segments than the large multi-state companies such as Progressive or GEICO.

More affordable insurance coverage is possible from both online companies and with local insurance agents, and you need to comparison shop both to get a complete price analysis. There are still a few companies who may not have the ability to get quotes online and most of the time these regional carriers only sell through independent agents.