Cheapest 2020 Lexus NX 300 Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2023

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Want the cheapest insurance rates for your Lexus NX 300? Do you get exhausted from not being able to scrape enough together to insure your Lexus every month? You are in the same boat as many other consumers. Numerous insurance companies battle to insure your vehicles, so it’s not easy to compare every provider to find the cheapest price

Get cheap auto insurance rates with discounts

Auto insurance can be pricey, but you might be missing out on some discounts that can help lower your rates. A few discounts will automatically apply at the time you complete a quote, but a few must be asked about before being credited.

  • First Accident Forgiveness – Not a discount per se, but companies like Allstate, Progressive, and GEICO may permit one accident without the usual rate increase if your claims history is clear for a particular time prior to the accident.
  • Own a Home – Just owning your own home can get you a discount since owning and maintaining a home demonstrates responsibility.
  • Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and will save you 10% or more.
  • New Car Discount – Buying a new car model can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Renewal Discounts – Select companies give a discount for switching to them before your current expiration date. It’s a savings of about 10%.
  • Smart Student Discounts – This discount could provide a savings of up to 20% or more. Many companies even apply the discount to college students until age 25.
  • Defensive Driver – Completing a course teaching defensive driving skills can save you 5% or more and easily pay for the cost of the class.
  • Life Insurance Discount – If the company offers life insurance, you could get a discounted auto insurance rate on car insurance if you buy life insurance from them.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Lexus could earn lower premium rates due to less chance of an accident.
  • Memberships – Being a member of a professional or civic organization may earn a discount on your next renewal.

Drivers should understand that most credits do not apply to the overall cost of the policy. Some only apply to specific coverage prices like liability, collision or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, companies wouldn’t make money that way. Any qualifying discounts will lower your policy cost.

A few of the larger companies and some of the discounts include:

  • The Hartford includes discounts for driver training, anti-theft, defensive driver, air bag, bundle, vehicle fuel type, and good student.
  • American Family has discounts for multi-vehicle, early bird, TimeAway discount, good driver, good student, defensive driver, and mySafetyValet.
  • Progressive may have discounts that include homeowner, good student, multi-policy, online signing, continuous coverage, multi-vehicle, and online quote discount.
  • Travelers offers premium reductions for save driver, continuous insurance, good student, hybrid/electric vehicle, IntelliDrive, and student away at school.
  • Farmers Insurance may offer discounts for youthful driver, multi-car, mature driver, bundle discounts, electronic funds transfer, and homeowner.
  • USAA offers discounts including military installation, loyalty savings, annual mileage, vehicle storage, new vehicle, and good student.
  • Liberty Mutual has savings for good student, teen driver discount, newly retired, new graduate, and safety features.

If you are trying to find affordable car insurance quotes, ask all companies you are considering which discounts they offer. Savings may not apply in your area. If you would like to choose from a list of auto insurance companies that have a full spectrum of discounts, enter your zip code here.

The easiest way to compare car insurance company rates is to understand most of the larger companies pay for the opportunity to compare rate quotes. All you need to do is provide information like driver details, coverage limits, distance driven, and if it has an anti-theft system. The rating information is instantly provided to multiple top-rated companies and you should receive rate quotes instantly to find the best rate.

Smart buyers can lower their insurance prices

Part of the insurance buying process is learning some of the factors that play a part in calculating the price you pay for insurance. If you have a feel for what determines premiums, this helps enable you to make changes that could help you find lower insurance prices.

  • Be proud to be claim-free – If you file claims often, you shouldn’t be surprised to get either a policy non-renewal or much higher rates. Insurance companies provide better rates to insureds who are claim-free. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.
  • Tickets will cost you – Being a careful driver can have a huge impact on auto insurance premiums. Getting just one chargable violation may increase your cost by as much as twenty percent. Good drivers have lower premiums as compared to careless drivers. Drivers with multiple citations such as DUI or reckless driving may face state-mandated requirements to prove financial responsibility to the state department of motor vehicles in order to legally drive a vehicle.
  • Choose high IIHS safety ratings and save – Vehicles with good safety scores are cheaper to insure. Safer cars have better occupant injury protection and any reduction in injury severity means your insurance company pays less passed on to you as lower rates. If your Lexus NX 300 scored at minimum 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.
  • Deter theft and pay less – Owning a car with an alarm system can earn a premium discount. Theft prevention features like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can help prevent your vehicle from being stolen.
  • Combine policies to earn discounts – Some companies provide a discount to customers who carry more than one policy. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even with this discount applied, consumers should still check prices from other companies to guarantee you are still saving the most.
  • Poor credit can mean higher prices – An insured’s credit history can be a huge factor in calculating your insurance rates. Therefore, if your credit is lower than you’d like, you could be paying less to insure your 2020 Lexus NX 300 by taking the time to improve your credit score. People that have very high credit ratings tend to be more responsible than drivers with poor credit.
  • Coverage deductibles are a factor – Comprehensive and collision coverage deductibles state the amount of money you are required to spend out-of-pocket before your insurance pays a claim. Insurance for physical damage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims would be a windshield broken by a bird, fire damage, and damage caused by road hazards. The larger the amount you have to pay, the less money you will pay for insurance on NX 300 coverage.
  • Eliminate unneeded add-on coverages – There are quite a few extra coverages that you can get tricked into buying if you aren’t careful. Insurance for rental car coverage, death and dismemberment, and motor club memberships may not be needed and are just wasting money. These coverages may sound good when deciding what coverages you need, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.

Tailor your insurance coverage coverage to you

When it comes to buying coverage, there isn’t really a single plan that fits everyone. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight if your insurance needs will benefit from professional help.

  • Am I covered if I wreck a rental car?
  • Is a new car covered when I drive it off the dealer lot?
  • What if I owe more than I can insure my car for?
  • Is other people’s property covered if stolen from my vehicle?
  • When should I not file a claim?
  • Do I need replacement cost coverage on my 2020 Lexus NX 300?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, fill out your zip code. It’s fast, free and can provide invaluable advice.

But the ad said I’d save 15% in 15 minutes!

Consumers can’t avoid all the ads for cheaper auto insurance from the likes of Allstate and Progressive. All the companies make the same claim about savings if you change your auto insurance policy to them.

That’s great but how can every company make almost identical claims? It’s all in the numbers.

Different companies have an ideal profile for the type of driver that will add to their bottom line. For instance, a profitable insured might be described as between 25 and 40, has no claims, and the vehicle is rated for pleasure use. A prospective insured that meets those criteria receives the best car insurance rates and will probably save money with a new company.

Insureds who fall short of these criteria will have to pay higher rates and business not being written. If you pay attention, the ads say “customers that switch” not “all people who quote” save that kind of money. This is how companies can claim big savings.

This illustrates why it is so important to compare rate quotes every year. It is impossible to guess which insurance companies will give you the biggest savings.

Insurance specifics

Learning about specific coverages of insurance helps when choosing the right coverages and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are the normal coverages found on the average insurance policy.

Comprehensive auto coverage

This will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as theft, falling objects and rock chips in glass. The maximum payout your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Lexus NX 300.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.


Liability insurance provides protection from damage that occurs to a person or their property in an accident. It protects YOU against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 50/100/50 that means you have $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit which provides one coverage limit without having the split limit caps.

Liability insurance covers claims like emergency aid, attorney fees and structural damage. How much coverage you buy is your choice, but you should buy as high a limit as you can afford.

Collision coverage

This pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as driving through your garage door, scraping a guard rail, crashing into a ditch and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. You can also raise the deductible to save money on collision insurance.

Medical payments and PIP coverage

Med pay and PIP coverage pay for expenses for things like ambulance fees, X-ray expenses and chiropractic care. They are used in conjunction with a health insurance policy or if you do not have health coverage. It covers all vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

More comparisons equals lower rates

Cheap 2020 Lexus NX 300 insurance can be found on the web and from local agencies, so you need to quote car insurance with both in order to have the best price selection to choose from. Some car insurance companies don’t offer the ability to get quotes online and usually these smaller companies prefer to sell through independent agents.

When buying insurance coverage, it’s a bad idea to buy less coverage just to save a little money. There have been many cases where an accident victim reduced liability coverage limits only to find out that they should have had better coverage. The aim is to get the best coverage possible at a price you can afford while still protecting your assets.

To learn more, take a look at the articles below:

Frequently Asked Questions

How can I find cheap auto insurance rates for my 2020 Lexus NX 300?

If you’re looking for cheap auto insurance rates for your 2020 Lexus NX 300, you can start by entering your ZIP code to compare quotes from different insurance companies. The more quotes you compare, the better your chances of finding the cheapest rates.

Are there any discounts available to lower my auto insurance rates?

Yes, there are several discounts that can help lower your auto insurance rates. While some discounts are automatically applied when you request a quote, others may need to be specifically asked for. Discounts can vary by insurance company, so it’s recommended to inquire about available discounts when obtaining quotes.

How can I compare car insurance company rates?

To compare car insurance company rates, you can provide information such as driver details, coverage limits, distance driven, and whether your vehicle has an anti-theft system. This information will be used to provide you with rate quotes from multiple top-rated companies. By comparing these quotes, you can find the best rate for your Lexus NX 300.

What factors influence the price I pay for insurance?

Several factors affect the price you pay for insurance. These factors include your driving record, age, location, coverage options, deductibles, and the type of vehicle you own. Understanding these factors can help you make changes that may result in lower insurance prices.

Why do different insurance companies claim to offer similar savings?

Insurance companies target specific driver profiles that align with their profitability goals. When companies claim savings for customers who switch, they are referring to those individuals who meet their ideal driver criteria. By comparing rate quotes annually, you increase your chances of finding the insurance company that offers the biggest savings based on your unique circumstances.

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