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2019 Lexus LC 500 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: May 1, 2020

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If you’re searching for lower-priced insurance, are you confused by the number of insurance providers available to you? Lot’s of other people are too. There are so many choices that it can turn into a challenge to find lower premium rates.

If you currently have a car insurance policy, you should be able to lower your premiums substantially using these tips. Pricing more affordable car insurance coverage is not that difficult. But consumers can benefit from knowing the methods companies use to sell online and take advantage of how the system works.

Insurance premium influencing factors

Multiple criteria are part of the equation when you quote your car insurance policy. A few of the factors are predictable like a motor vehicle report, but others are more obscure like your vehicle usage or your financial responsibility.When buying auto insurance it’s important to understand the rating factors that come into play when calculating the price you pay for auto insurance. If you know what determines premiums, this enables informed choices that can help you get much lower annual insurance costs.

  • How much liability coverage – Liability coverage will provide protection when a court rules you are at fault for damages caused by your negligence. It will provide legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so drivers should carry high limits.
  • Job stress can make you pay more – Occupations like lawyerspolice officers and stock brokers have higher premium rates in part from job stress and lots of time spent away from family. Conversely, professions such as farmers, students and the unemployed get better rates for LC 500 insurance.
  • Combine policies and save money – Some auto insurance companies will award better rates to clients that purchase more than one policy such as combining an auto and homeowners policy. Even if you’re getting this discount it’s still a good idea to comparison shop to guarantee you are still saving the most.
  • Consider raising coverage deductibles – The deductibles you choose define the amount you are willing to pay if the claim is covered. Physical damage insurance, also called ‘full coverage’, covers damage that occurs to your car. Some examples of covered claims would be rearending another vehicle, collision with a deer, and damage caused by road hazards. The more damage repair cost you have to pay, the better rate you will receive for LC 500 insurance.
  • Proper usage rating affects premiums – The higher the miles on your Lexus in a year the higher your rate. Most insurance companies price each vehicle’s coverage based upon how you use the vehicle. Autos used primarily for pleasure use can be on a lower rate level than vehicles that are driven to work every day. An incorrectly rated LC 500 is throwing money out the window. Make sure your auto insurance policy properly reflects how each vehicle is driven.
  • Do you need those add-on coverages? – There are a lot of extra add-on coverages that can waste your money but may not be useful. Coverages for rental car coverage, high-cost glass coverage, and extra life insurance coverage may be costing you every month. They may seem good when you first buy your policy, but if you don’t need them consider taking them off your policy.
  • Careless driving leads to higher premiums – Having a clean driving record has a lot to do with how much you pay for insurance. Just one driving citation could increase your next policy renewal forty percent or more. Good drivers get better rates compared to bad drivers. Drivers unfortunate enough to have flagrant violations like hit and run, DWI or reckless driving convictions may find that they have to to prove financial responsibility with their state in order to legally drive.
  • Credit score impacts premiums – A driver’s credit score will be a significant factor in determining premium rates. Insureds with very high credit ratings tend to be more responsible as compared to drivers with lower credit ratings. If your credit score is not that good, you could be paying less to insure your 2019 Lexus LC 500 by taking the time to improve your credit score.

How to buy insurance online

To find the best insurance prices, there are several ways to compare rate quotes from lots of insurance companies. The fastest way to find the lowest Lexus LC 500 rates is to perform an online rate comparison. It is quite easy and can be accomplished in just a few minutes using one of these methods.

  • The easiest and least time consuming way to find the lowest comparison rates is an all-inclusive rate comparison. This easy form prevents you from having to do separate quotation requests for every insurance company. One form submission will return quotes from several companies. This is by far the quickest method.
  • A more time consuming way to find more affordable insurance consists of going to the website of each company and request a quote. For sake of this example, let’s say you want to see prices from USAA, Farmers and American Family. In order to compare rates, you need to spend time on each company’s site to enter the same coverage data repeatedly, which explains why we recommend starting with the first method.

How you compare quotes is your choice, just make darn sure you compare nearly identical coverage limits and deductibles for each price quote. If you are comparing unequal deductibles or liability limits you can’t possibly decipher which rate is best. Quoting even small variations in limits could skew the results. It’s important to know that having more price comparisons will increase your chances of finding more affordable rates. Some companies don’t provide online quotes, so it’s necessary to compare price estimates from those companies as well.

Cheaper rates with discounts

Auto insurance companies don’t always advertise all their discounts very clearly, so we took the time to find both the well known as well as some of the hidden savings tricks you should be using when you buy insurance online.

  • Government Employees – Active or former government employment could qualify for a slight premium decrease for LC 500 insurance with certain companies.
  • Student Discounts – Getting good grades may save as much as 25% on a insurance quote. This discount can apply up to age 25.
  • Paper-free Discount – A handful of larger companies will provide an incentive get insurance on their website.
  • Own a Home and Save – Owning your own home or condo can save a few bucks because maintaining a house is proof of financial responsibility.
  • Anti-lock Brake Discount – Cars, trucks, and SUVs equipped with ABS or steering control can stop better under adverse conditions so you can save 10 percent or more.
  • Discount for Swiching Early – Select insurance companies give a discount for switching companies prior to your current policy expiration. This discount can save up to 10%.

You should keep in mind that most of the big mark downs will not be given to the whole policy. Some only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.

A list of companies and some of their more popular discounts are outlined below.

  • Progressive has savings for multi-vehicle, online quote discount, online signing, good student, and homeowner.
  • SAFECO has discounts for anti-theft, anti-lock brakes, bundle discounts, multi-car, teen safety rewards, teen safe driver, and safe driver.
  • American Family policyholders can earn discounts including multi-vehicle, TimeAway discount, defensive driver, Steer into Savings, and accident-free.
  • MetLife may offer discounts for defensive driver, accident-free, multi-policy, good driver, and claim-free.
  • GEICO offers premium reductions for daytime running lights, defensive driver, federal employee, five-year accident-free, driver training, and anti-lock brakes.
  • The Hartford includes discounts for good student, defensive driver, bundle, driver training, and vehicle fuel type.

If you need lower rates, check with each insurance company how you can save money. Discounts may not apply to policies in your area. To find providers with discount insurance coverage rates, enter your zip code here.

What is the best auto insurance coverage?

When choosing the best auto insurance coverage, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions may help you determine if you would benefit from an agent’s advice.

  • If I drive on a suspended license am I covered?
  • Is my Lexus LC 500 covered if I use it for business?
  • Is a blown tire covered by insurance?
  • What is roadside assistance coverage?
  • What is the difference between comprehensive and collision coverage?
  • Should I buy only the required minimum liability coverage?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Can I still get insurance after a DUI?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and enter your zip code.

Learn about insurance coverages for a 2019 Lexus LC 500

Learning about specific coverages of insurance aids in choosing appropriate coverage for your vehicles. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive insurance

This coverage covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like rock chips in glass, hail damage, damage from a tornado or hurricane, damage from flooding and vandalism. The most 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.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Lexus LC 500.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Liability coverage

This protects you from damages or injuries you inflict on people or other property that is your fault. It protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability coverage pays for things such as court costs, legal defense fees, attorney fees and funeral expenses. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for things like doctor visits, hospital visits and EMT expenses. They can be used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers all vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Coverage for collisions

This coverage pays for damage to your LC 500 resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things such as driving through your garage door, crashing into a building and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.

You can do this!

As you restructure your insurance plan, never buy poor coverage just to save money. There have been many cases where an accident victim reduced full coverage and found out when filing a claim that it was a big mistake. Your goal is to buy the best coverage you can find for the lowest price.

Drivers switch companies for many reasons like questionable increases in premium, policy non-renewal, poor customer service or an unsatisfactory settlement offer. It doesn’t matter what your reason, choosing a new insurance company can be less work than you think.

Lower-priced 2019 Lexus LC 500 insurance can be bought from both online companies as well as from insurance agents, so you should compare both to have the best chance of lowering rates. There are still a few companies who may not offer online quoting and usually these small insurance companies prefer to sell through local independent agencies.

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