Cheapest 2016 Lexus IS 350 Insurance Rates in 2024
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UPDATED: Jun 6, 2023
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Trying to find better car insurance rates for your Lexus IS 350? Finding discount car insurance is overwhelming for people that are relatively new to price shopping online. With more and more insurance companies available, how can anyone be able to compare every one to find better car insurance prices?
Finding affordable coverage is not that difficult. Just about every vehicle owner who has to buy car insurance stands a good chance to be able to lower their premiums. But car owners need to learn how the larger insurance companies sell online because it can help you find the best coverage.
Find discounts on insurance
Insuring your vehicles can cost a lot, but you can get discounts that many people don’t even know exist. Certain discounts will be applied when you purchase, but lesser-known reductions have to be manually applied before they will apply. If you do not check that you are getting every discount available, you could be saving more on your insurance.
- Multi-Vehicle Discounts – Buying insurance for multiple cars with the same company can get a discount on all vehicles.
- Pay Upfront and Save – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
- First Accident Forgiveness – but a handful of insurance companies allow you one accident without getting socked with a rate hike if you are claim-free for a set time period.
- Passenger Safety Discount – Options like air bags or motorized seat belts could see savings of 20 to 30 percent.
- Home Ownership Discount – Being a homeowner can get you a discount since home ownership means you have a higher level of financial diligence.
- Theft Prevention System – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and earn discounts up to 10% off your insurance quote.
Consumers should know that most discounts do not apply the whole policy. Some only apply to the price of certain insurance coverages like comprehensive or collision. Despite the fact that it seems like having all the discounts means you get insurance for free, insurance companies aren’t that generous.
Insurance companies who might offer some of the above discounts are:
- State Farm
- Mercury Insurance
- 21st Century
When comparing rates, check with all the companies which discounts they offer. Some discounts might not be offered in your area. To locate insurance companies offering insurance discounts, click here to view.
Insurance cost influencing factors
An important part of buying insurance is that you know some of the elements that come into play when calculating your premiums. When you understand what impacts premium levels, this allows you to make educated decisions that can earn you lower car insurance prices. Many different elements are considered when you get a price on insurance. Some are obvious such as your driving history, but others are more obscure like where you live or your commute time.
- Commute or pleasure use – The more miles you rack up on your Lexus in a year the more you’ll pay to insure it. Most companies charge to insure your cars based upon how you use the vehicle. Cars that sit idle most of the time get more affordable rates than those used for commuting. Incorrect rating for your IS 350 can result in significantly higher rates. Verify your policy reflects the right rating data, because improper ratings can cost you money.
- Improve your credit rating and save – Having a bad credit score can be an important factor in determining your rates. If your credit rating leaves room for improvement, you may save money insuring your 2016 Lexus IS 350 by spending a little time repairing your credit. Insureds that have high credit scores tend to be better drivers and file fewer claims than drivers with lower credit ratings.
- Careless driving leads to higher prices – Having just one citation can bump up the cost substantially. Drivers with clean records get better rates compared to drivers with tickets. Drivers who have license-revoking violations like DUI or reckless driving may find they need to prove financial responsibility with their state’s department of motor vehicles in order to continue driving.
- Cheaper rates for being claim-free – If you frequently file small claims, you can pretty much guarantee either policy cancellation or increased premiums. Companies provide the best rates to drivers who only file infrequent claims. Auto insurance is intended for claims that pose a financial burden.
- Does insurance coverage cost less for women? – Over the last 50 years, statistics have shown women are more cautious behind the wheel. Now that doesn’t mean females are better at driving than males. Men and women are responsible for auto accidents in similar numbers, but men have accidents that have higher claims. In addition to higher claims, males also get more serious tickets such as DWI and reckless driving.
- Save money by raising coverage deductibles – Your deductibles tell how much the insured will be required to pay if the claim is covered. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some coverage claims are rearending another vehicle, animal collisions, and damage caused by road hazards. The more the insured has to pay upfront, the bigger discount you will receive for IS 350 coverage.
- Driver age impacts rates – Beginning drivers are statistically shown to be more careless behind the wheel so they pay higher car insurance rates. Having to add a youthful driver to your policy can increase premiums substantially. More experienced drivers have been proven to be more responsible, cause fewer claims and accidents and receive fewer citations.
Tailor your auto insurance coverage to you
When buying adequate coverage for your vehicles, there is no perfect coverage plan. Every insured’s situation is different.
These are some specific questions might help in determining if your insurance needs will benefit from professional help.
- When should I remove comp and collision on my 2016 Lexus IS 350?
- Am I covered when driving in Canada or Mexico?
- How can I force my company to pay a claim?
- Do I have newly-aquired coverage?
- What vehicles should carry emergency assistance coverage?
- What is the difference between comprehensive and collision coverage?
- Can my babysitter drive my car?
- What exactly is covered by my policy?
- I have good health insurance, so how much medical payments coverage do I need?
If you can’t answer these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.
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The coverage is in the details
Understanding the coverages of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. Insurance terms can be difficult to understand and reading a policy is terribly boring.
Protection from uninsured/underinsured drivers
This provides protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your Lexus IS 350.
Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Coverage for collisions
Collision insurance will pay to fix damage to your IS 350 from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for things like sideswiping another vehicle, crashing into a building and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also increase the deductible to save money on collision insurance.
Liability auto insurance
This provides protection from damage that occurs to other people or property that is your fault. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.
Liability coverage protects against things such as structural damage, loss of income, repair bills for other people’s vehicles, bail bonds and court costs. How much coverage you buy is your choice, but you should buy higher limits if possible.
Comprehensive (Other than Collision)
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like damage from a tornado or hurricane, rock chips in glass and falling objects. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Medical expense insurance
Med pay and PIP coverage pay for bills for things like EMT expenses, funeral costs, dental work and pain medications. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover you and your occupants as well as being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay
Be a money saver!
You just read quite a bit of information on how to compare 2016 Lexus IS 350 insurance auto insurance rates online. The key concept to understand is the more providers you compare, the better likelihood of getting low cost insurance. Consumers may even find the best auto insurance rates are with the least-expected company.
Some insurance providers do not offer online rate quotes and usually these regional insurance providers only sell coverage through independent agencies. Lower-priced car insurance can be purchased from both online companies and from local insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from.
While you’re price shopping online, make sure you don’t skimp on critical coverages to save a buck or two. Too many times, an insured dropped collision coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.
Even more information can be found at these sites:
- Side Impact Crash Tests (iihs.org)
- Older Driver Statistics (Insurance Information Insitute)
- Credit and Insurance Scores (Insurance Information Insitute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- What are my Rights when Filing a Claim? (Insurance Information Insitute)
Frequently Asked Questions
How can I find the cheapest auto insurance rates for a 2016 Lexus IS 350 in 2023?
To find the cheapest auto insurance rates for a 2016 Lexus IS 350 in 2023, you can use our free quote tool. Simply enter your ZIP code and you’ll be able to view companies that offer cheap auto insurance rates. By comparing quotes from different companies, you increase your chances of finding the best coverage at an affordable price.
What are some discounts available for auto insurance?
There are several discounts available for auto insurance that can help lower your premiums. Some common discounts include safe driver discounts, multi-policy discounts (if you have multiple policies with the same insurance company), good student discounts, and anti-theft device discounts. It’s important to check with each insurance company to see which discounts they offer and if you qualify for any of them.
What factors can influence the cost of my auto insurance?
Several factors can influence the cost of your auto insurance. Some common factors include your driving history, the type of vehicle you drive, your age, your location, and your credit score. Insurance companies use these factors to assess your risk level and determine your premium. It’s a good idea to review these factors and see if there are any actions you can take to potentially lower your insurance costs.
What coverages should I consider for my Lexus IS 350?
When considering coverage for your Lexus IS 350, it’s important to include the following:
- Liability coverage: This protects you from damage caused to others or their property if you’re at fault in an accident.
- Collision coverage: This pays for the repairs to your vehicle if you’re involved in a collision with another car or object.
- Comprehensive coverage: This covers damage to your vehicle caused by events other than collisions, such as theft, vandalism, or natural disasters.
- Uninsured/underinsured motorist coverage: This provides protection if you’re involved in an accident with a driver who doesn’t have insurance or has insufficient coverage.
How can I save money on auto insurance without sacrificing coverage?
To save money on auto insurance without sacrificing coverage, you can consider the following:
- Shop around and compare quotes from different insurance companies to find the best rates.
- Take advantage of available discounts for which you qualify.
- Consider increasing your deductibles, but make sure you can afford to pay the higher amount out of pocket in case of a claim.
- Maintain a good driving record and avoid accidents and traffic violations.
- Bundle your auto insurance with other policies, such as home or renters insurance, to potentially qualify for multi-policy discounts.
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