Cheapest 1997 Lexus ES 300 Insurance Rates in 2023
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UPDATED: Aug 23, 2022
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Trying to find lower auto insurance rates for your Lexus ES 300? Searching for low-cost insurance for a Lexus ES 300 can normally be a painful process, but you can learn a few tricks to make it easier.
There are more efficient ways to compare auto insurance rates so we’re going to tell you the best way to compare rates for a new or used Lexus and obtain the cheapest rates from both online companies and local agents.
It’s important to get comparison quotes every six months due to the fact that insurance rates are adjusted regularly by insurance companies. Just because you had the lowest rates on ES 300 insurance a year ago you will most likely find a better rate today. Starting right now, ignore everything you know about auto insurance because I’m going to teach you the easiest way to lower your annual insurance bill.
Cut prices on Lexus ES 300 insurance
Properly insuring your vehicles can get expensive, buy you may qualify for discounts to help bring down the price. Some trigger automatically at the time of purchase, but lesser-known reductions have to be manually applied in order for you to get them. If you’re not getting every credit you deserve, you are paying more than you should be.
- Seat Belts Save – Requiring all passengers to use a seat belt can save up to 15% off your medical payments premium.
- Multi-policy Discount – When you have multiple policies with the same insurance company you will save 10% to 20% off each policy.
- Accident Free – Claim-free drivers pay less when compared to drivers who are more careless.
- Clubs and Organizations – Belonging to certain professional organizations could qualify you for a break when buying auto insurance on ES 300 insurance.
- Save with a New Car – Putting insurance coverage on a new car can save up to 30% due to better safety requirements for new cars.
- Anti-lock Brake Discount – Vehicles equipped with ABS or steering control are safer to drive and therefore earn up to a 10% discount.
- Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you could save up to 5%.
- 55 and Retired – Mature drivers may receive better auto insurance rates on ES 300 insurance.
Keep in mind that some of the credits will not apply to the overall cost of the policy. Some only reduce individual premiums such as collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, you won’t be that lucky. But any discount will reduce your overall premium however.
Companies that may offer some of the above discounts include:
- Farmers Insurance
- State Farm
- Mercury Insurance
Double check with every prospective company how you can save money. Some discounts may not be available in every state.
Don’t believe everything you hear
Consumers can’t ignore all the ads that promise big savings by companies like State Farm, GEICO and Progressive. All the ads have a common claim of big savings if you move to them.
But how can every company claim to save you money?
Insurance companies have a preferred profile for the driver that earns them a profit. An example of a profitable customer could possibly be between the ages of 30 and 50, has no prior claims, and drives newer vehicles. A customer that hits that “sweet spot” gets the lowest rates and therefore will pay quite a bit less when switching companies.
Drivers who don’t meet these standards must pay higher rates which usually ends up with the driver buying from a lower-cost company. The ads state “people who switch” not “everybody who quotes” save that much. That’s the way insurance companies can make the claims of big savings.
This illustrates why drivers must compare many company’s rates. It is impossible to predict which insurance companies will fit your personal profile best.
Tailor your coverage to you
When choosing coverage, there isn’t really a perfect coverage plan. Every insured’s situation is different.
Here are some questions about coverages that may help you determine if your insurance needs may require specific advice.
- Is my cargo covered for damage or theft?
- Do I have any recourse if my insurance company denies a claim?
- Does my personal policy cover me when driving out-of-state?
- How does medical payments coverage work?
- Why does it cost so much to insure a teen driver?
- Will I lose any money if I cancel my policy before it expires?
- What is the rate difference between pleasure use and commuting?
- Does coverage extend to Mexico or Canada?
- Can I rent a car in Mexico?
If you’re not sure about those questions, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form. It only takes a few minutes and can help protect your family.
Specifics of your insurance policy
Knowing the specifics of a insurance policy helps when choosing appropriate coverage for your vehicles. Insurance terms can be confusing and even agents have difficulty translating policy wording.
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your 1997 Lexus ES 300.
Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are set the same as your liablity limits.
Comprehensive coverage (or Other than Collision) – This will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like damage from getting keyed, damage from flooding, vandalism, hitting a bird and fire damage. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Liability auto insurance – This coverage protects you from damages or injuries you inflict on people or other property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.
Liability can pay for things such as medical services, loss of income, legal defense fees and medical expenses. The amount of liability coverage you purchase is up to you, but buy as much as you can afford.
Collision – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims such as driving through your garage door, colliding with another moving vehicle, hitting a parking meter and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Insurance for medical payments – Med pay and PIP coverage pay for immediate expenses such as prosthetic devices, X-ray expenses, pain medications and hospital visits. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
Shop around and save
In this article, we presented a lot of tips how to shop for 1997 Lexus ES 300 insurance online. The key concept to understand is the more price quotes you have, the better chance you’ll have of finding lower rates. You may even find the most savings is with an unexpected company.
When shopping online for insurance coverage, it’s very important that you do not buy less coverage just to save a little money. There have been many cases where an insured cut uninsured motorist or liability limits only to regret at claim time they didn’t purchase enough coverage. Your goal should be to buy the best coverage you can find at the best price while not skimping on critical coverages.
Budget-conscious insurance is attainable on the web and also from your neighborhood agents, and you should compare price quotes from both so you have a total pricing picture. There are still a few companies who may not provide you the ability to get quotes online and most of the time these small, regional companies sell through independent agents.
Additional detailed information is available in the articles below:
- Prom Night Tips for Teen Drivers (State Farm)
- Young Drivers: The High Risk Years Video (iihs.org)
- State Car Insurance Guides (GEICO)
- How to Avoid Common Accidents (State Farm)
- Auto Insurance Basics (Insurance Information Insitute)
- Side Impact Crash Tests (iihs.org)
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