How to Insure your Lexus IS 300 on the Cheap
If finding cheaper car insurance was fun, we'd make the time to do it regularly. Unfortunately, it's not always as easy as it sounds to get the best rate. Finding affordable coverage for your Lexus IS 300 probably is no different.
Step One: Compare Apples-to-Apples Quotes
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. Thanks to the internet, insurance shopping is a whole lot easier!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Lexus IS 300 without even visiting their websites!
Compare rates now by clicking the link below. In just a few minutes you'll have a good idea of what insurance will cost for your Lexus IS 300.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your IS 300.
Step Two: Tricks to Saving Money on IS 300 Insurance
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- Some people just like the looks of a higher performance vehicle like the Lexus IS 300, but even if you don't use the extra power it's going to cost you more when your insurance bill arrives.
- Check your credit rating each year and address any problem areas. Higher credit scores mean lower car insurance rates.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- Consider taking a defensive driving course. You can often make up the cost of the course in as little as a single policy renewal.
- If a quick quarter mile is your goal, the IS 300 will answer the call. But if cheap insurance rates are your goal, then you might want to consider trading down to a lower performance vehicle.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- Most insurance companies will give you a discount on your car insurance if you also own a home. Some go even farther and give you discounts if you package your homeowners and auto insurance with them.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
- Teenage drivers can be very expensive to insure on newer vehicles will full coverage. You may be better off purchasing an older vehicle for your teenager and only insure it for liability.
- Speeding and other minor violations can impact your car insurance rates for up to three years. The increased cost can easily exceed the fine and court costs for the original ticket.
- If your Lexus is equipped with safety features such as airbags, anti-lock brakes or a security system, insurance companies will often give a minor discount for those.
- Small claims that may only exceed your physical damage deductibles by a small amount are better off not being submitted to your company. Just pay the extra hundred dollars or two and keep a claim-free discount on your policy.
- For some reason, car theives target particular makes and models more than others. If your IS 300 is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
Step Three: Buy the Policy That's Right for You
It's time to make a purchase decision based on your rate comparisions and and any policy coverage changes you wish to make. Once you are comfortable with the cost and coverages, you can finalize your purchase by paying your premium down payment.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
If you already have a car insurance policy, then your Lexus IS 300 will be covered as soon as your purchase it. If this is your first vehicle, you will want to make sure you have coverage in place as soon as your purchase it. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new IS 300 at risk as soon as you drive away.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
To read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.
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