2020 Lexus RX 350 Insurance Rates in 2024 – 5 Savings Tips

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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: Apr 28, 2024

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Trying to find better insurance rates for your Lexus RX 350? Having to pay for overpriced insurance can dwindle your funds and require stricter spending habits. Consumers have many insurance companies to purchase coverage from, and even though it’s nice to have a choice, it can be more difficult to find the lowest rates.

You should make it a habit to get comparison quotes before your next renewal because rates are rarely the same from one policy term to another. Even if you think you had the best deal on RX 350 insurance a couple years back you can probably find a lower rate today. There are a lot of ways to save on insurance online, but in just a couple of minutes you can learn some solid techniques on how to lower your insurance bill.

Low cost auto insurance prices

Most larger insurance companies like Progressive, Allstate and GEICO provide pricing directly from their websites. Getting quotes is quite simple as you simply enter the coverage amounts you desire into the quote form. After the form is submitted, their system sends out for your credit score and driving record and gives you a price quote based on the information you submitted. Being able to quote online makes comparing rates easy, but the work required to visit different websites and complete many quote forms can be a bit repetitive. But it’s very important to get many rate quotes in order to find a better rate.

A better way to find lower prices uses one form to return rates from many companies. It’s a real time-saver, helps eliminate repetitive entry, and makes online quotes much easier to do. After your information is entered, it is quoted and you can choose any one of the returned quotes. If one or more price quotes are lower than your current rates, you can click and sign and buy the new coverage. The whole process takes 15 minutes at the most and you will know how your current rates stack up.

To save time and use this form to compare rates, simply enter your zip code here and begin entering your coverage information. If you have a policy now, it’s recommended you replicate coverages and limits identical to your current policy. This way, you will have a price comparison based on identical coverages.

Five discounts for cheaper car insurance rates

Some companies don’t always advertise every discount very clearly, so the below list has some of the best known and also the more inconspicuous car insurance savings.

  • Save with a New Car – Buying a new car instead of a used car can get you a discount compared to insuring an older model.
  • Discounts for Multiple Vehicles – Drivers who insure multiple vehicles with one company could earn a price break for each car.
  • Own a Home and Save – Just owning your own home may earn you a small savings because it is proof of financial responsibility.
  • No Charge for an Accident – This one is not really a discount per se, but companies like GEICO and Allstate will forgive one accident without getting socked with a rate hike as long as you don’t have any claims prior to the accident.
  • Payment Method – By paying your entire bill at once rather than spreading payments over time you may have a lower total premium amount.

Don’t be surprised that some of the credits will not apply to the entire policy premium. A few only apply to specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, it doesn’t quite work that way.

A list of car insurance companies and their offered discounts can be found below.

  • Farmers Insurance discounts include business and professional, mature driver, bundle discounts, switch companies, and pay in full.
  • Esurance policyholders can earn discounts including emergency road assistance, multi-car, online quote, anti-theft, and homeowner.
  • State Farm has savings for student away at school, Steer Clear safe driver discount, defensive driving training, good driver, multiple autos, and multiple policy.
  • GEICO may include discounts for emergency military deployment, driver training, good student, federal employee, anti-theft, and anti-lock brakes.
  • Allstate includes discounts for eSmart discount, passive restraint, new car, safe driver, FullPay discount, defensive driver, and utility vehicle.

If you are trying to find low cost auto insurance quotes, ask every company which discounts you may be entitled to. Savings might not be offered on policies in your state. If you would like to see a list of car insurance companies who offer car insurance discounts, enter your zip code here.

Tailor your insurance coverage coverage to you

When choosing coverage for your personal vehicles, there is no “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. For example, these questions can help discover whether you would benefit from an agent’s advice.

  • Am I covered when pulling a rental trailer?
  • Should I buy full coverage?
  • Should I put collision coverage on all my vehicles?
  • Is there coverage for injuries to my pets?
  • What exactly is covered by my policy?
  • How do I insure my teen driver?
  • Do I have coverage for damage caused while driving under the influence?
  • How much liability insurance is required?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to an agent. To find lower rates from a local agent, complete your zip code. It is quick, free and can help protect your family.

Specific coverage details

Learning about specific coverages of car insurance helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be confusing and coverage can change by endorsement. Listed below are the normal coverages found on the average car insurance policy.

Comprehensive coverages

Comprehensive insurance covers 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 can pay for claims like hitting a bird, a broken windshield and damage from flooding. The highest amount a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Auto liability

Liability insurance will cover damage or injury you incur to other’s property or people by causing an accident. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims like medical expenses, funeral expenses, structural damage, medical services and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses for dental work, chiropractic care, ambulance fees, hospital visits and nursing services. They are used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as damage to your Lexus RX 350.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family.

Collision protection

This covers damage to your RX 350 from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like colliding with a tree, scraping a guard rail, hitting a mailbox and backing into a parked car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Coverage on a shoestring budget

When buying insurance coverage, do not reduce coverage to reduce premium. In too many instances, an insured cut collision coverage and found out when filing a claim they didn’t purchase enough coverage. Your focus should be to buy enough coverage at a price you can afford, not the least amount of coverage.

In this article, we covered some good ideas how to save on 2020 Lexus RX 350 insurance. It’s most important to understand that the more you quote auto insurance, the higher the chance of saving money. You may even discover the best price on insurance coverage is with some of the smallest insurance companies. These smaller insurers can often provide lower prices in certain areas as compared to the big name companies such as Allstate, GEICO and Progressive.

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