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Lexus Lexus IS-350 Insurance Rates

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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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UPDATED: Feb 20, 2020

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Trying to find cheaper insurance rates for your Lexus IS 350? I can’t think of anyone who cherishes buying insurance, in particular when the price is too high. Many auto insurance companies compete to insure your vehicles, so it’s not easy to compare every insurer and uncover the absolute cheapest price

Consumers need to shop coverage around yearly due to the fact that insurance rates are variable and change quite frequently. Even if you got the best deal on IS 350 coverage a year ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because we’re going to demonstrate the quickest way to save money, get proper deductibles and limits, all at the lowest rate.

Get lower rates on 2007 Lexus IS 350 insurance

Companies offering auto insurance don’t necessarily list every available discount very clearly, so we researched some of the more common as well as the least known ways to save on insurance coverage. If you’re not getting every credit possible, you are paying more than you should be.

  • Good Student Discount – A discount for being a good student can be rewarded with saving of up to 25%. The good student discount can last up until you turn 25.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems prevent accidents and qualify for as much as a 10% discount.
  • Discount for New Cars – Putting insurance coverage on a new car can save up to 30% due to better safety requirements for new cars.
  • Accident Free – Drivers with accident-free driving histories can earn big discounts as compared to accident-prone drivers.
  • Multiple Vehicles – Insuring multiple vehicles on one policy can get a discount on all vehicles.

It’s important to note that most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

Companies that possibly offer these discounts include:

Check with each company what discounts are available to you. All car insurance discounts may not apply in every state.

Low Cost Car Insurance

There are multiple methods to compare 2007 Lexus IS 350 car insurance quotes, and some are more efficient than others. You can spend your afternoon talking about coverages with agents in your area, or you could use the web to quickly compare rates.

Most major companies are enrolled in a marketplace that allows shoppers to enter their coverage request one time, and each participating company then returns a price quote. This prevents consumers from doing repetitive form submissions to every company.

To find out how much you can save on car insurance click to open in new window.

One minor caviat to using this type of form is buyers cannot specifically choose the providers to get pricing from. So if you prefer to choose specific providers to compare rates, we put together a list of low cost car insurance companies in your area. View list of insurance companies.

However you get your quotes, make sure you use apples-to-apples deductibles and coverage limits with every price quote. If your comparisons have different deductibles then you won’t be able to find the best deal for your Lexus IS 350.

Lexus IS 350 premiums are determined by many factors

An important part of buying insurance is that you know the different types of things that come into play when calculating your auto insurance rates. When you know what positively or negatively determines base rates allows you to make educated decisions that can help you get much lower annual insurance costs.

The list below includes some of the factors companies use to determine your rates.

  • Don’t sacrifice liability coverage – The liability section of your policy will protect you when you are found to be at fault for personal injury or accident damage. Liability insurance provides for a legal defense which can be incredibly expensive. Liability insurance is quite affordable compared to insuring for physical damage coverage, so do not cut corners here.
  • Mature drivers pay less – Young drivers are statistically proven to be less responsible behind the wheel so auto insurance rates are higher. Having to add a teenage driver onto your auto insurance can be quite pricey. Older drivers tend to be more responsible, file fewer claims and are safer drivers.
  • Don’t buy coverages you don’t need – There are a ton of additional coverages that can waste your money when buying auto insurance. Coverages for rental car reimbursement, accident forgiveness and additional equipment coverage are some examples. They may seem like a good idea when you first buy your policy, but now you might not need them so eliminate them to save money.
  • One company can mean more discounts – Most companies give discounts to people who carry more than one policy. It’s known as a multi-policy discount. Discounts can amount to anywhere from five to ten percent in most cases. Even if you’re getting this discount you may still want to comparison shop to verify if the discount is saving money.
  • Drive less and save money – The more miles you rack up on your Lexus each year the more you will pay for auto insurance. Most insurance companies charge to insure your cars determined by how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Having the wrong rating on your IS 350 can result in significantly higher rates. Make sure your auto insurance policy is showing how each vehicle is driven.
  • Careful drivers pay lower rates – Careful drivers get better rates than their less careful counterparts. Only having one speeding ticket can boost insurance rates by as much as thirty percent. Drivers with dangerous tickets like reckless driving, hit and run or driving under the influence are required to file a SR-22 to the state department of motor vehicles in order to prevent a license revocation.
  • Bump up deductibles to save – Physical damage insurance, termed comprehensive and collision coverage on your policy, is used to repair damage to your Lexus. Some instances where coverage would apply are collision with another vehicle, collision with an animal, and windstorm damage. Physical damage deductibles are how much you are required to spend out-of-pocket before a claim is paid by your company. The more money you are required to pay out-of-pocket, the less your company will charge you for insurance on IS 350 coverage.
  • A lapse in coverage is a bad thing – Allowing your auto insurance policy to lapse will be a guaranteed way to trigger a rate increase. Not only will rates go up, but not being able to provide proof of insurance can result in a license revocation or jail time.You may then be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.

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Tailor your coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there isn’t really a one size fits all plan. Every situation is different and your policy should reflect that. These are some specific questions may help you determine if you might need an agent’s assistance.

  • Why am I required to buy high-risk coverage?
  • What is PIP insurance?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Do I need medical payments coverage since I have good health insurance?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I have any recourse if my insurance company denies a claim?
  • Do I need rental car coverage?
  • Why does it cost so much to insure a teen driver?
  • What vehicles should carry emergency assistance coverage?

If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and you can get the answers you need.

Buyer beware of insurance coverage advertising tricks

Consumers get pounded daily by advertisements that promise big savings by companies like Progressive, Allstate and GEICO. All the ads make the same claim of big savings if you move to them.

But how can every company claim to save you money?

All the different companies are able to cherry pick for the right customer that is profitable for them. An example of a preferred risk might be profiled as a mature driver, has no tickets, and has great credit. A propective insured that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to save when switching.

Potential customers who don’t meet this ideal profile will be charged more money and ends up with business going elsewhere. The ad wording is “drivers who switch” not “everybody who quotes” save money. This is how insurance companies can confidently make those claims. That is why drivers must get quotes from several different companies. You cannot predict which company will provide you with the cheapest Lexus IS 350 insurance rates.

Insurance policy specifics

Understanding the coverages of insurance helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on the average insurance policy.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus IS 350.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Liability car insurance

This protects you from injuries or damage you cause to a person or their property in an accident. It protects YOU against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers claims such as legal defense fees, loss of income, funeral expenses, court costs and emergency aid. How much liability coverage do you need? That is up to you, but you should buy as large an amount as possible.

Medical costs insurance

Med pay and PIP coverage pay for short-term medical expenses like X-ray expenses, rehabilitation expenses and ambulance fees. They are used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

Collision coverage will pay to fix damage to your IS 350 from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as crashing into a ditch, colliding with another moving vehicle, scraping a guard rail and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Comprehensive or Other Than Collision

This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like vandalism, a tree branch falling on your vehicle, hitting a bird and hitting a deer. 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.

Best coverage at the best price

While you’re price shopping online, it’s not a good idea to reduce coverage to reduce premium. In many instances, an insured dropped collision coverage only to find out they didn’t purchase enough coverage. The proper strategy is to buy the best coverage you can find at an affordable rate while not skimping on critical coverages.

Throughout this article, we presented a lot of tips how to reduce 2007 Lexus IS 350 insurance prices online. The most important thing to understand is the more price quotes you have, the better likelihood of reducing your rate. Consumers may even find the lowest premiums are with the smaller companies. Smaller companies often have lower prices on specific markets compared to the large companies like GEICO and State Farm.

More detailed auto insurance information can be found in the articles below:

Use our FREE quote tool to compare rates now!

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