How Much Does 2003 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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Want lower car insurance rates for your Lexus ES 300? Perplexed by the wide range of car insurance choices? You’re not the only one! People have so many companies to choose from that it can quickly become a ton of work to find the perfect company for you.

You need to get comparison quotes on a regular basis because prices tend to go up over time. Just because you had the best rates for ES 300 coverage two years ago you can probably find a better price now. There is too much inaccurate information about car insurance on the web, but we’re going to give you some tested techniques to quit paying high car insurance rates.

Auto Insurance Prices Online

The are a couple different ways to compare quotes from local auto insurance companies. The quickest method to compare 2003 Lexus ES 300 insurance prices is to use the internet to compare rates. This is very easy and can be done in a couple of different ways.

The first (and easiest) way to get quotes is an all-inclusive rate comparison (click to open form in new window). This form saves time by eliminating separate quote forms for every auto insurance company. A single form will return quotes from several companies. This is perfect if you don’t have a lot of time.

A harder way to find lower rates requires a visit to each company website to complete their respective quote request forms. For instance, let’s assume you want rates from Auto-Owners, Liberty Mutual and GMAC. You would have to visit each site and enter your information, which is why the first method is more popular. To view a list of companies in your area, click here.

It’s up to you how you get prices quotes, just ensure you’re using the exact same coverages and limits for each comparison quote. If each company quotes different deductibles you can’t possibly make a fair comparison for your Lexus ES 300. Having just a slight variation in coverages may result in large price differences. Keep in mind that obtaining a wide range of quotes gives you a better chance of getting the best rates.

These discounts can slash auto insurance rates

Properly insuring your vehicles can get expensive, but there are discounts available that many people don’t even know exist. Some discounts apply automatically when you purchase, but some may not be applied and must be asked about prior to receiving the credit.

  • Memberships – Being a member of certain professional organizations is a good way to get lower rates when shopping for auto insurance for ES 300 coverage.
  • Anti-lock Brakes – Vehicles with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
  • Driver Safety – Completing a course in driver safety could save 5% or more if you qualify.
  • No Charge for an Accident – Certain companies permit an accident before raising your premiums if you are claim-free for a certain period of time.
  • Anti-theft System – Anti-theft and alarm systems help deter theft and qualify for as much as a 10% discount.
  • Government Employees – Simply working for the federal government can save as much as 8% for ES 300 coverage with select insurance companies.
  • Homeowners Pay Less – Simply owning a home may trigger a auto insurance policy discount because of the fact that having a home shows financial diligence.
  • Early Signing – Select companies give a discount for switching to them prior to your current policy expiring. This can save 10% or more.

It’s important to understand that most credits do not apply to all coverage premiums. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like you would end up receiving a 100% discount, you won’t be that lucky. But any discount will bring down the amount you have to pay.

Companies that possibly offer these discounts include:

It’s a good idea to ask each company what discounts are available to you. Savings might not be offered in your area.

When might I need the advice of an agent?

When choosing the best insurance coverage coverage, there really is no cookie cutter policy. Every situation is different.

Here are some questions about coverages that might help in determining whether you will benefit from professional help.

  • Which is better, split liability limits or combined limits?
  • Will I be non-renewed for getting a DUI or other conviction?
  • What is the difference between comprehensive and collision coverage?
  • How can I force my company to pay a claim?
  • What should my uninsured motorist coverage limits be in my state?
  • Should I put collision coverage on all my vehicles?
  • Is my nanny covered when driving my vehicle?

If you can’t answer these questions but you know they apply to you, you may need to chat with an agent. If you don’t have a local agent, take a second and complete this form.

Your Lexus ES 300 insurance rate is a complex equation

Smart consumers have a good feel for the factors that help determine insurance coverage rates. Knowing what controls the rates you pay enables informed choices that may reward you with better insurance coverage rates.

The following are a few of the “ingredients” insurance coverage companies consider when setting rates.

  • Add-on coverages can add up – There are many extra bells and whistles you can purchase on your insurance coverage policy. Coverages for vanishing deductibles, better glass coverage and membership fees may be costing you every month. These may sound like a good investment when talking to your agent, but your needs may have changed so eliminate them to save money.
  • An active claims history can cost you – Insurance companies provide lower rates to insureds who file claims infrequently. If you frequently file small claims, you can expect either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for major claims that would cause financial hardship.
  • Drive a safer car and pay less – Safer cars can get you lower premiums. The safest vehicles protect occupants better and any reduction in injury severity means lower claim amounts and thus lower rates. If the Lexus ES 300 scored better than 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.
  • Consolidate policies to earn discounts – Some insurers give discounts to people who buy several policies from them in the form of a multi-policy discount. If you currently are using one company, it’s still a good idea to compare rates to confirm you are receiving the best rates possible. Drivers may still find better rates by buying insurance coverage from a different company.

Do you really save 40% when you switch?

Insurance companies such as State Farm, Allstate and GEICO consistently run ads on television and other media. They all seem to have a common claim that you can save if you change your coverage to them. How do they all make the same claim? This is how they do it.

Insurance companies have a certain “appetite” for the right customer they prefer to insure. For instance, a preferred risk might be profiled as over the age of 50, has no tickets, and drives less than 7,500 miles a year. Any new insured who meets those qualifications will get the preferred rates and therefore will save when they switch companies.

Consumers who don’t qualify for these standards will have to pay higher premiums and this can result in business not being written. Company advertisements say “people who switch” but not “drivers who get quotes” save that much. That is how companies can state the savings.

Because of the profiling, drivers must get a wide range of price quotes. It is impossible to predict which insurance companies will fit your personal profile best.

Specific coverages for a 2003 Lexus ES 300

Having a good grasp of a auto insurance policy can be of help when determining the best coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring.

Auto collision coverage

Collision insurance will pay to fix damage to your ES 300 from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like hitting a parking meter, damaging your car on a curb and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible to bring the cost down.

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Lexus ES 300.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Liability coverage

This protects you from damages or injuries you inflict on other people or property that is your fault. It protects you against claims from other people. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 100/300/100 which means $100,000 bodily injury coverage, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage pays for things such as medical expenses, court costs and attorney fees. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford.

Comprehensive or Other Than Collision

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

Comprehensive can pay for claims like falling objects, damage from flooding, a tree branch falling on your vehicle and theft. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Medical costs insurance

Medical payments and Personal Injury Protection insurance reimburse you for expenses for surgery, doctor visits, funeral costs, rehabilitation expenses and ambulance fees. They are often used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Stretch your dollar

When trying to cut insurance costs, it’s not a good idea to reduce needed coverages to save money. In many cases, an accident victim reduced physical damage coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to buy enough coverage at the best price, not the least amount of coverage.

People who switch companies do it for a variety of reasons including poor customer service, denial of a claim, lack of trust in their agent or policy non-renewal. No matter why you want to switch, choosing a new company is pretty easy and you might even save some money in the process.

We just presented a lot of techniques to lower your 2003 Lexus ES 300 insurance rates. The most important thing to understand is the more you quote, the higher the chance of saving money. You may even find the lowest priced auto insurance comes from a small local company.

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