2021 Lexus NX 300 Insurance Rates in 2024 – 10 Savings Tips

Looking for the cheapest auto insurance rates? Shoppers have options when shopping for the lowest priced Lexus NX 300 insurance. You can either waste hours calling around to compare prices or leverage the internet to make rate comparisons.

There is a right way and a wrong way to compare auto insurance rates and we’ll show you the proper way to price shop coverage for a new or used Lexus and get the cheapest rates.

It’s a good idea to compare rates on a regular basis since insurance prices tend to go up over time. If you had the lowest rate for NX 300 insurance a year ago a different company probably has better premium rates today. Block out anything you think you know about auto insurance because we’re going to demonstrate the right way to get good coverage at a lower rate.

The quickest way to get policy rate comparisons utilizes the fact almost all companies actually pay money for the chance to give you rate quotes. The only thing you need to do is provide information like if you went to college, if you’re married, how your vehicles are used, and if a SR-22 is required. Your information is then sent to many different companies and they return rate quotes instantly.

Save with with these ten discounts

Insurance can cost an arm and a leg, but you may find discounts that you may not even be aware of. Many of these discounts will be applied automatically when you complete an application, but some discounts are required to be specially asked for before being credited.

• Early Payment Discounts – If you pay your bill all at once rather than paying in monthly installments you can avoid monthly service charges.
• Low Mileage Discounts – Low mileage vehicles could be rewarded with substantially lower rates.
• Military Discounts – Having a deployed family member could mean lower rates.
• Switch and Save Discount – A few insurance companies give discounts for buying a new policy before your current coverage expires. Ten percent is about the average savings.
• Savings for New Vehicles – Putting coverage on a new car can save up to 30% because newer models have to meet stringent safety requirements.
• ABS and Traction Control Discounts – Cars and trucks with ABS and/or traction control have fewer accidents and therefore earn up to a 10% discount.
• Distant College Student Discount – Children who attend college more than 100 miles from home and do not take a car to college can receive lower rates.
• Multiple Vehicles – Purchasing coverage when you have primary and secondary vehicles on a single policy can get a discount on all vehicles.
• Discount for Good Grades – A discount for being a good student can earn a discount of 20% or more. This discount can apply up to age 25.
• Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discounted rate on car insurance if you buy some life insurance in addition to your auto policy.

As a disclaimer on discounts, most of the big mark downs will not be given to the entire cost. Some only reduce the price of certain insurance coverages like comprehensive or collision. Just because you may think you would end up receiving a 100% discount, it’s just not the way it works.

Large car insurance companies and their offered discounts are detailed below.

• State Farm offers premium reductions for multiple autos, defensive driving training, Drive Safe & Save, accident-free, good driver, anti-theft, and Steer Clear safe driver discount.
• GEICO may offer discounts for air bags, defensive driver, five-year accident-free, emergency military deployment, anti-lock brakes, military active duty, and membership and employees.
• Progressive may include discounts for online signing, good student, multi-vehicle, multi-policy, continuous coverage, homeowner, and online quote discount.
• 21st Century has discounts for student driver, early bird, automatic seat belts, 55 and older, good student, and theft prevention.
• American Family includes discounts for multi-vehicle, good student, TimeAway discount, mySafetyValet, air bags, defensive driver, and good driver.
• The Hartford policyholders can earn discounts including good student, bundle, air bag, vehicle fuel type, defensive driver, anti-theft, and driver training.
• AAA has savings for pay-in-full, good driver, good student, multi-policy, and anti-theft.

Double check with every insurance company to apply every possible discount. Some credits might not apply in your state.

Your situation helps dictate your coverage

When it comes to choosing proper insurance coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different.

For example, these questions may help you determine if you would benefit from professional advice.

• When would I need additional glass coverage?
• When does my teenage driver need to be added to my policy?
• What is an SR-22 filing?
• What are the best liability limits?
• How high should deductibles be on a 2021 Lexus NX 300?
• Does insurance cover tools stolen from my truck?
• What are the financial responsibility laws in my state?

If it’s difficult to answer those questions but a few of them apply then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete your zip code. It only takes a few minutes and may give you better protection.

Will you really save $477 on insurance?

Consumers constantly see and hear ads that claim the lowest car insurance rates by Allstate, GEICO and Progressive. All the ads advertise the message that drivers can save some big amount just by switching to them.

It sounds good, but how can they all save you money? You have to listen carefully.

Most companies have an ideal profile for the type of customer they prefer to insure. An example of this type of driver could possibly be between 30 and 50, has a clean driving record, and has excellent credit. Any person that meets those criteria receives the best rates and therefore will save when they switch companies.

Potential customers who do not match these criteria will have to pay a higher rate and this results in the customer not purchasing. Company advertisements say “people who switch” but not “everyone who gets a quote” save the amount stated. This is how insurance companies can make those claims.

This emphasizes why it’s extremely important to compare rate quotes every year. It is impossible to predict with any certainty which company will provide you with the cheapest prices.

What insurance coverages do you need?

Having a good grasp of insurance aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Liability car insurance

Liability insurance provides protection from damage that occurs to people or other property that is your fault. It protects YOU against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 50/100/50 that translate to a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount without having the split limit caps.

Liability coverage pays for claims such as pain and suffering, legal defense fees, emergency aid, court costs and structural damage. How much coverage you buy is your choice, but consider buying higher limits if possible.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family as well as damage to your Lexus NX 300.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Usually these limits are similar to your liability insurance amounts.

Comprehensive coverages

Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like damage from getting keyed, damage from a tornado or hurricane, vandalism and theft. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision protection

Collision coverage covers damage to your NX 300 caused by collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things like colliding with a tree, rolling your car and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage pay for expenses for pain medications, prosthetic devices, nursing services and dental work. They can be utilized in addition to your health insurance plan or if you do not have health coverage. Coverage applies to you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

One last thing about your coverage

The cheapest 2021 Lexus NX 300 insurance is definitely available both online and with local insurance agents, so you need to quote auto insurance with both to have the best selection. Some companies do not offer rate quotes online and most of the time these regional insurance providers sell through local independent agents.

Consumers leave their current company for a number of reasons such as lack of trust in their agent, an unsatisfactory settlement offer, extreme rates for teen drivers or unfair underwriting practices. It doesn’t matter why you want to switch finding the right insurance provider is easier than you think.

We just covered some good ideas how you can reduce 2021 Lexus NX 300 insurance prices online. The key thing to remember is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the best price on insurance is with a lesser-known regional company.