Cheap 1998 Lexus ES 300 Car Insurance Cost

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Aug 23, 2022

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I can’t think of anyone who looks forward to paying for car insurance, in particular when they are paying too much.

Online insurance companies like Allstate and Progressive continually hit you with TV and radio ads and it is difficult to ignore the promise of big savings and find the best price available.

Fast and Easy Insurance Quotes

To find the best insurance prices, there are several ways to compare rate quotes from insurance companies in your area. The best method to find the cheapest 1998 Lexus ES 300 insurance rates consists of obtaining rate quotes online. This can be done using a couple different methods.

  1. The most efficient way to find low rates would be an industry-wide quote request form click here to open form in new window. This method prevents you from having to do multiple quote forms for each company. A single form will return quotes from all major companies.
  2. A slightly less efficient method to shop for insurance online is going to the website of each company and fill out their own quote form. For instance, let’s say you want comparison quotes from Nationwide, Progressive and Allstate. To get each rate you have to spend time on each company’s site to input your insurance information, which is why the first method is more popular.

    For a handy list of car insurance company links in your area, click here.

It’s up to you which method you use, but be sure to compare exactly the same quote information on every quote you get. If you are comparing unequal deductibles or liability limits it will be impossible to make a fair comparison for your Lexus ES 300. Quoting even small variations in limits may result in large price differences. It’s important to know that quoting more will improve the odds of getting lower pricing.

These discounts can lower your rates

Car insurance companies do not list all available discounts in a way that’s easy to find, so we break down both well-publicized and the harder-to-find savings tricks you should be using.

  • Federal Government Employee – Being employed by or retired from a federal job could cut as much as 10% off for ES 300 coverage depending on your company.
  • Safe Driver Discount – Drivers who avoid accidents may save up to 50% more for ES 300 coverage than drivers with accident claims.
  • Defensive Driver – Taking part in a course in driver safety could save 5% or more if your company offers it.
  • Passive Restraints – Factory air bags or motorized seat belts can receive discounts of more than 20%.
  • Auto/Home Discount – If you have multiple policies with the same company you may save approximately 10% to 15%.
  • Braking Control Discount – Vehicles equipped with ABS or steering control can reduce accidents and therefore earn up to a 10% discount.
  • Senior Discount – If you’re over the age of 55, you may receive reduced rates for ES 300 coverage.

It’s important to note that most discounts do not apply the whole policy. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. So when it seems like all the discounts add up to a free policy, you’re out of luck.

Companies who might offer these discounts include:

Double check with each insurance company which discounts they offer. Savings may not be available in your area.

Different people need different coverages

When it comes to choosing coverage, there really is not a perfect coverage plan. Every situation is different so your insurance should reflect that Here are some questions about coverages that may help you determine if you might need an agent’s assistance.

  • Do I have coverage for damage caused while driving under the influence?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Do I need more liability coverage?
  • Does liability extend to a camper or trailer?
  • If I drive on a suspended license am I covered?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Why your Lexus ES 300 insurance rates may be high

Consumers need to have an understanding of the different types of things that come into play when calculating the price you pay for insurance coverage. Having a good understanding of what influences your rates empowers consumers to make smart changes that can help you get lower insurance coverage prices.

The list below includes a few of the “ingredients” used by your company to calculate your rates.

  • Older drivers save more – Teen drivers are known to be more careless in a vehicle so they pay higher insurance coverage rates. Mature drivers are viewed as being more responsible, statistically cause fewer accidents and tend to be better behind the wheel.
  • A lapse in coverage is a bad thing – Allowing your insurance coverage policy to lapse will be a quick way to increase your insurance coverage rates. Not only will rates go up, but not being able to provide proof of insurance will get you a steep fine or even jail time.
  • Better credit scores mean better rates – Your credit rating is a huge factor in determining what you pay for insurance coverage. Consumers who have excellent credit tend to be less risk to insure than those with lower credit ratings. If your credit can use some improvement, you could save money insuring your 1998 Lexus ES 300 by spending a little time repairing your credit.
  • Liability coverage protects you – Liability coverage provides coverage when a jury decides you are liable for causing damage or personal injury in an accident. It will provide you with a defense in court starting from day one. Liability insurance is quite affordable when compared with rates for comp and collision, so buy as much as you can afford.
  • Multi-policy discounts can save money – The majority of insurance coverage companies will award you with lower prices to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even if you’re getting this discount you may still want to compare other company rates to verify if the discount is saving money.
  • Higher safety ratings means cheaper insurance – Vehicles with good safety scores can get you lower premiums. Safe vehicles result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims and thus lower rates. If your Lexus ES 300 earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.

The coverage is in the details

Having a good grasp of your policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement. Below you’ll find typical coverage types found on the average auto insurance policy.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Collision insurance

Collision coverage covers damage to your ES 300 caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like crashing into a ditch, colliding with a tree and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also raise the deductible to save money on collision insurance.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for bills like dental work, hospital visits, ambulance fees and chiropractic care. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. They cover all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Comprehensive insurance

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like rock chips in glass, damage from a tornado or hurricane and damage from flooding. The highest amount your auto insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Liability coverage

This coverage provides protection from damage or injury you incur to other’s property or people that is your fault. This coverage protects you from claims by other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 50/100/50 which means $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged property.

Liability insurance covers claims like bail bonds, emergency aid and structural damage. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford.

More comparisons equals lower rates

We covered many ways to reduce 1998 Lexus ES 300 insurance prices online. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. Drivers may discover the biggest savings come from a small local company. These companies can often insure niche markets at a lower cost than their larger competitors like State Farm and Allstate.

Low-cost insurance is possible online in addition to many insurance agents, and you should be comparing both in order to have the best chance of saving money. Some insurance companies do not provide online quoting and most of the time these small, regional companies sell through independent agents.

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