2020 Lexus RX 350 Insurance Rates
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UPDATED: Apr 9, 2020
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Average insurance rates for a 2020 Lexus RX 350 are $1,638 a year for full coverage insurance. Comprehensive insurance costs an estimated $358 each year, collision insurance costs $660, and liability costs $440. Buying a liability-only policy costs as little as $510 a year, and high-risk insurance costs $3,546 or more. Teenage drivers receive the highest rates at up to $6,052 a year.
Annual premium for full coverage: $1,638
Rate estimates for 2020 Lexus RX 350 Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2020 Lexus RX 350 models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For the average driver, prices range range from as low as $510 for basic liability insurance to a high rate of $3,546 for a driver that may need high-risk insurance.
These differences illustrate why all drivers should compare rates for a targeted area and risk profile, instead of making a decision based on average rates.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 2020 Lexus RX 350 Insurance
Want lower car insurance rates? Drivers have lots of choices when trying to find the best price on Lexus RX 350 insurance. They can either waste time struggling with agents to compare prices or save time using the internet to get rate quotes. There are both good and bad ways to compare car insurance rates and you need to know the best way to compare rates for a Lexus and locate the best price possible either online or from local insurance agents.
Cut insurance costs with these tips
Many different elements are used in the calculation when premium rates are determined. Some of the criteria are obvious such as your driving history, although others are not as apparent such as whether you are married and annual miles driven.
- Traffic violations can increase costs – A bad driving record has a huge affect on how much you pay. Having a single driving citation can increase rates substantially. Careful drivers tend to pay less for car insurance compared to drivers with tickets. Drivers who have license-revoking tickets like DUI, reckless driving or excessive speeding may find they need to maintain a SR-22 with the DMV in their state in order to legally drive.
- Consolidate policies to earn discounts – Most insurance companies apply discounts to insureds who have multiple policies with them. It’s known as a multi-policy discount. If you currently are using one company, you still need to get quotes from other companies to help guarantee you have the best rates. Consumers may save money even if you insure with multiple companies
- Marriage is a factor – Having a significant other actually saves money on your policy. Having a spouse is viewed as being more responsible it has been statistically shown that married drivers tend to file fewer claims.
- Younger driver insurance prices – Youthful drivers are proven to be easily distracted with other occupants in the car so insurance rates are higher. Having to add a young driver onto a policy can increase premiums substantially. Older insureds are viewed as being more responsible, tend to cause fewer accidents and receive fewer citations.
The quickest method we recommend to compare car insurance company rates is to know most insurance companies provide online access to give rate comparisons. All you need to do is provide the companies a bit of rating information like whether you have decent credit, which vehicles you own, driver ages, and how your vehicles are used. Your information gets transmitted to multiple different insurance companies and they return quotes instantly.
Don’t listen to company ads
Consumers can’t ignore all the ads that promise big savings for switching from companies such as Allstate, GEICO and Progressive. They all make the point about savings just by moving your coverage.
How does every company sell you cheaper insurance coverage? This is how they do it.
All companies have a certain “appetite” for the type of customer that earns them a profit. A good example of a profitable risk profile may be over age 30, has no tickets, and the vehicle is rated for pleasure use. A propective insured that meets those criteria will probably get cheap rates and will probably save if they switch.
People who are not a match for this stringent profile must pay a higher rate which translates to the customer not purchasing. Company advertisements say “people that switch” not “everyone who quotes” save the amount stated. That is how companies can truthfully make those claims. That is why you really need to get insurance coverage quotes from several different companies. It’s just not possible to know which insurance companies will provide the lowest rates.
Lower rates by qualifying for discounts
Insurance is not inexpensive, but you might already qualify for some discounts that many people don’t even know exist. Certain discounts will be triggered automatically at quote time, but some need to be specially asked for before being credited.
- Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class in school or through a local driver safety program.
- Student Discounts – Excelling in school could provide a savings of up to 20% or more. This discount can apply up to age 25.
- Theft Deterent System – Cars optioned with advanced anti-theft systems are stolen less frequently and will qualify for a discount on a insurance coverage quote.
- Discount for Swiching Early – A few insurance companies offer discounts for switching policies before your current expiration date. You could save around 10% when you buy insurance coverage online.
- Multi-policy Discount – If you have multiple policies and place coverage with the same company you could save up to 20% off your total premium.
One thing to note about discounts is that most discount credits are not given to the entire policy premium. The majority will only reduce specific coverage prices like liability, collision or medical payments. Just because it seems like adding up those discounts means a free policy, companies don’t profit that way.
Some of the larger companies who might offer these benefits include:
If you are trying to find the cheapest insurance coverage quotes, ask each company to give you their best rates. Discounts might not be offered on policies in your area. For a list of providers that can offer you the previously mentioned discounts, enter your zip code here.
Auto insurance is unique, just like you
When it comes to choosing coverage for your vehicles, there isn’t really a “best” method to buy coverage. Every insured’s situation is different.
These are some specific questions might help in determining if your situation might need an agent’s assistance.
- What is covered by UM/UIM coverage?
- Am I covered when driving a rental car?
- What are the best liability limits?
- Are my friends covered when driving my car?
- Do I have coverage for damage caused while driving under the influence?
- I don’t drive much so do I pay less?
- How can I force my company to pay a claim?
- Will my insurance pay for OEM parts?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. If you want to speak to an agent in your area, complete your zip code. It only takes a few minutes and can provide invaluable advice.
Parts of your auto insurance policy
Knowing the specifics of a auto insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and coverage can change by endorsement.
Medical expense coverage
Med pay and PIP coverage pay for expenses for things like surgery, EMT expenses, X-ray expenses and prosthetic devices. The coverages can be utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
This pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims such as hail damage, a broken windshield, theft, vandalism and fire damage. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Uninsured or underinsured coverage
Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Because many people 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.
Coverage for liability
Liability coverage provides protection from damage that occurs to people or other property by causing 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 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 a limit of $100,000 paid for damaged property.
Liability coverage protects against things such as medical expenses, repair bills for other people’s vehicles, medical services and funeral expenses. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.
Collision insurance covers damage to your RX 350 resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things like crashing into a ditch, driving through your garage door, hitting a mailbox, rolling your car and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to save money on collision insurance.
Have money to burn
When searching for low cost insurance coverage quotes, make sure you don’t buy lower coverage limits just to save a few bucks. Too many times, an accident victim reduced comprehensive coverage or liability limits and learned later that the savings was not a smart move. The goal is to buy enough coverage at the best price, but don’t skip important coverages to save money.
Insureds change insurance companies for a variety of reasons including lack of trust in their agent, high rates after DUI convictions, delays in paying claims or policy cancellation. Regardless of your reason for switching companies, switching companies is actually quite simple.
We just covered a lot of tips how to lower your 2020 Lexus RX 350 insurance car insurance rates. The most important thing to understand is the more rate quotes you have, the higher your chance of finding low cost insurance coverage. You may even discover the best price on insurance is with a small local company.
For more information, link through to these articles:
Rates by U.S. City
|New York City, NY||$2,592|
|Los Angeles, CA||$2,805|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$123|
|5-yr Claim Free||$106|
|Paid in Full/EFT||$77|
Discounts are estimated and may not be available from every company or in every state.