Three Steps to Paying Less for Lexus IS 350 Insurance
If shopping your car insurance around was fun, we'd do it much more often. But more than likely, it's challenging for most people and we always end up paying more than we want. Finding insurance for your Lexus IS 350 that you can actually afford is probably no different.
Step One: Insurance Rate Comparison Quotes
The old-fashioned method of shopping for car insurance included visiting several local insurance agents and being on the receiving end of a hard sell tactic. Times have changed!
You can now shop all the best car insurance companies and compare rates for a Lexus IS 350 and you don't even have to visit each individual website!
Simply click the link below to enter your information. Once complete, you can compare the returned rates and make a decision on which policy to purchase.
Use the Same Coverages! It's really important that when doing multiple quotes for your IS 350 that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: How to Cut Costs on IS 350 Insurance
There are many contributing factors that determine what you pay to insure your Lexus. You can help yourself (and your wallet) by paying attention to the following rate factors.
- The performance boost offered by your Lexus IS 350 is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- Many insurance companies will give you a small discount if you've recently completed a driver's training course.
- The more a vehicles costs new, the more likely it is that repairs will cost more as well. Since the IS 350 is a luxury sport vehicle insurance will cost a little more.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- Even if you don't take advantage of the sporty nature of the IS 350, other people will and you'll pay more for insurance based on the higher rating class of the vehicle.
- Car insurance rates for a teen driver on a Lexus IS 350 will be expensive no matter what kind of coverage you have. But if you don't need comprehensive and collision, consider dropping those to save money.
- Claims that aren't much more than your deductible are better off just being paid out of pocket. If you get into a habit of filing smaller claims, you will pay for it in higher rates.
- One of the best ways to lower your insurance rates is to raise your credit score. Check your rating once a year and make sure to address any problem areas immediately.
- Being a homeowner can often get you a little discount on your auto insurance. Insuring you home with the same company as your autos can often get you even deeper discounts.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
- 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.
- A lead foot will result in higher insurance rates. Slow down, don't get tickets and you'll pay less.
- Allowing your insurance to lapse for any length of time will increase the cost of a new policy. Always keep coverage in force.
- Auto theft is a big problem that costs us all money, but if your car is on the list of the most frequently stolen autos, you might be paying a little extra because of the temptation to thieves.
Step Three: Bind Coverage and Cancel your Old Policy
You've compared rates and hopefully looked over the coverages for each vehicle on your policy to make sure they're adequate. Now you can make the big decision on which company will best fulfill your needs.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
If this is a new policy with only the Lexus on it, be sure to have coverage before leaving the dealership or car lot. If you're adding it to an existing policy, you have anywhere from 15 to 30 days depending on the company. The coverage extended to an add-on vehicle is only as good as the coverage on existing vehicles, so if none of your current insured vehicles have full coverage, your new IS 350 won't have it either. So in that case, it's important to call your agent or company directly from the dealership and have them bind coverage immediately.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. If you are required to file an SR-22 with your state, your new insurance company will take care of that for you. If you cancel your coverage for any reason, you risk the loss of your driver's license.
Other Insurance Resources
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.
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