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2020 Lexus LC 500 Insurance Rates

Enter your zip code below to view companies that have cheap auto insurance rates.

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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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Car insurance shoppers not familiar with comparing rates online will discover sourcing inexpensive auto insurance is more work than they thought.

Cheaper auto insurance rates with discounts

Auto insurance companies don’t always publicize all their discounts very well, so the list below contains some of the best known and also the lesser-known auto insurance savings.

  • Discounts for Seat Belt Usage – Buckling up and requiring all passengers to buckle up before driving can save a little on medical payment and PIP coverage.
  • Multiple Policy Discount – When you combine your auto and homeowners insurance with one company you may save at least 10% off all policies.
  • Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn lower auto insurancerates if you buy life insurance.
  • Service Members Pay Less – Having a deployed family member could trigger a small discount.
  • Accident Waiver – This one is not really a discount per se, but a few companies such as Allstate and State Farm will forgive one accident before your rates go up if you have no claims for a set time period.
  • College Student Discount – who live away from home at college and do not take a car to college can be insured at a reduced rate.
  • Home Ownership Discount – Being a homeowner can save you money because owning a home means you have a higher level of financial diligence.
  • Defensive Driver – Taking a safe driver course could possibly earn you a 5% discount and also improve your driving technique.
  • Sign Online – Some of the larger companies will give you a small discount for completing your application online.

You can save money using discounts, but most discounts do not apply to the entire cost. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, it just doesn’t work that way. But all discounts will definitely lower your auto insurance premiums.

Popular auto insurance companies and some of the discounts are included below.

  • GEICO has discounts for military active duty, federal employee, defensive driver, multi-vehicle, daytime running lights, anti-lock brakes, and driver training.
  • Auto-Owners Insurance may offer discounts for good student, company car, teen driver, safe vehicle, anti-theft, and paperless.
  • American Family may have discounts that include multi-vehicle, defensive driver, early bird, accident-free, TimeAway discount, and good driver.
  • Esurance offers discounts including multi-policy, online quote, good student, paid-in-full, and anti-theft.
  • Progressive discounts include online signing, online quote discount, multi-policy, multi-vehicle, and homeowner.
  • State Farm includes discounts for good driver, good student, driver’s education, passive restraint, accident-free, anti-theft, and student away at school.
  • AAA may include discounts for good driver, education and occupation, good student, pay-in-full, anti-theft, and multi-policy.

If you want cheap auto insurance quotes, ask all the companies which discounts you qualify for. Discounts may not be available in your area. To view providers with the best discounts, enter your zip code here.

How to buy car insurance online

There are multiple methods to shop for car insurance, but one way is more efficient than others. You can waste hours discussing policy coverages with agents in your area, or you could use online quoting to get pricing more quickly.

Many of the larger companies belong to a marketplace that allows shoppers to send in one quote, and each company can give them a price based on that data. This system prevents you from having to do quotation requests to every company.

To find out what other companies charge enter your zip code here.

The only drawback to pricing coverage this way is that you can’t choose which companies to receive prices from. So if you want to choose from a list of companies for rate comparison, we have assembled a list of the cheapest car insurance companies in your area. Click to enter zip code.

It’s your choice how you get your quotes, but make sure you use apples-to-apples coverages and limits on every quote you get. If you are comparing different liability limits it will be next to impossible to determine which company has the best rates. Quoting even small variations in insurance coverages or limits could mean much higher rates. And when comparison shopping, getting more free quotes will enable you to find the best rates. Some regional insurers cannot provide online quotes, so it’s important to compare prices from them as well.

Lower insurance rates with these tips

Multiple criteria are considered when you quote your car insurance policy. A few of the factors are predictable like an MVR report, but others are less apparent like where you live or your vehicle rating.When buying car insurance it’s important to understand the rating factors that aid in calculating your premiums. If you have a feel for what controls the rates you pay, this helps enable you to make changes that may reward you with lower rates.

  • Qualify for multi-policy discounts – Many companies will award better rates to policyholders who have multiple policies with them in the form of a multi-policy discount. Even with this discount applied, it’s always a smart idea to get quotes from other companies to make sure you are getting the best deal.
  • Know your credit history – An insured’s credit score is likely to be a major factor in determining premium rates. People with high credit ratings tend to be more responsible and file fewer claims than drivers with lower ratings. If your credit score is lower than you’d like, you may save money insuring your 2020 Lexus LC 500 if you improve your credit rating.
  • Don’t get traffic citations – Careful drivers receive lower rates compared to bad drivers. Only having one ticket could increase your next policy renewal by as much as twenty percent. Drivers who have dangerous citations such as hit and run, DWI or reckless driving convictions may find they need to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to prevent a license revocation.
  • Drive less and pay lower prices – Driving a lot of miles each year the more you’ll pay to insure it. Most companies calculate prices determined by how the vehicle is used. Vehicles used primarily for pleasure use can get a lower rate than cars that get driven a lot. A policy that improperly rates your LC 500 may be costing you higher rates. It’s a good idea to make sure your car insurance declarations sheet is rated on the right rating data.
  • Your employer can affect rates – Did you know your job can affect your rates? Jobs such as military personnel, social workers and dentists tend to pay higher rates than average in part from intense work situations and lots of time spent away from family. Other careers like actors, athletes and retirees get better rates on LC 500 coverage.
  • Insurance rates for married couples – Having a wife or husband can actually save you money on car insurance. It translates into being more stable financially and insurance companies reward insureds because drivers who are married are more cautious.
  • Lower prices with GPS tracking and theft deterrents – Purchasing a vehicle with advanced anti-theft systems can save you some money. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help stop auto theft.

Tailor your auto insurance coverage to you

When choosing coverage, there is no cookie cutter policy. Each situation is unique.

Here are some questions about coverages that can aid in determining if your situation could use an agent’s help.

  • Does my medical payments coverage pay my health insurance deductible?
  • I have a DUI can I still get coverage?
  • How do I insure my teen driver?
  • Does my insurance cover a custom paint job?
  • How do I file an SR-22 for a DUI in my state?
  • Do I need roadside assistance coverage?
  • Is there coverage for injuries to my pets?
  • Why am I required to buy liability insurance?
  • At what point should I drop full coverage?
  • Do I get a pro-rated refund if I cancel my policy early?

If you’re not sure about those questions then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete your zip code.

Advertising and insurance coverage

Progressive, Allstate and GEICO seem to constantly run television and radio advertisements. All the ads have a common claim about saving some big amount just by switching your insurance coverage coverage to their company. How can each company charge lower premium rates? It’s all in how they say it.

Different companies have specific characteristics for the type of customer that will be a good risk. For instance, this type of driver might have to be a married female, has no prior claims, and drives a vehicle with a low ISO rating. Anybody that fits those parameters will get low prices and most likely will save when switching.

Consumers who don’t measure up to the “perfect” profile will be quoted a more expensive rate which leads to the customer not buying. If you pay attention, the ads say “customers that switch” but not “all drivers who get quotes” save that much. This is how companies can truthfully advertise the savings. Because of this risk profiling, you absolutely need to compare price quotes frequently. It’s not possible to predict with any certainty which company will have the lowest car insurance rates for your situation.

Insurance specifics

Understanding the coverages of your insurance policy aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance kick in for expenses like rehabilitation expenses, prosthetic devices, hospital visits, ambulance fees and nursing services. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible

Liability coverages

Liability insurance will cover damages or injuries you inflict on people or other property. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

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

Liability insurance covers things such as funeral expenses, bail bonds and repair costs for stationary objects. How much liability coverage do you need? That is your choice, but buy as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as damage to your Lexus LC 500.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.

Comprehensive auto coverage

Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for claims like hitting a bird, damage from a tornado or hurricane, a tree branch falling on your vehicle, damage from getting keyed and hail damage. The highest amount a insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Coverage for collisions

Collision insurance pays for damage to your LC 500 caused by collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like driving through your garage door, backing into a parked car, colliding with another moving vehicle, hitting a parking meter and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.

Money doesn’t grow on trees

Cheap 2020 Lexus LC 500 insurance is possible both online in addition to many insurance agents, and you should compare rates from both in order to have the best chance of saving money. There are still a few companies who don’t offer price quotes online and many times these regional carriers prefer to sell through local independent agents.

Drivers who switch companies do it for a variety of reasons including lack of trust in their agent, being labeled a high risk driver, high prices and poor customer service. Regardless of your reason, switching car insurance companies is easier than you think.

We’ve covered some good ideas how you can reduce 2020 Lexus LC 500 insurance auto insurance rates online. The most important thing to understand is the more providers you compare, the better likelihood of getting affordable auto insurance. You may even find the lowest auto insurance rates are with some of the smallest insurance companies.

Even more information can be found by following these links:

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