2023 Lexus IS 350 Insurance Quotes in 2024 – 5 Policy Discounts

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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: May 5, 2024

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Looking for lower insurance coverage rates? Shoppers have lots of choices when shopping for low-cost Lexus IS 350 insurance. They can either spend hours struggling with agents getting price quotes or save time using the internet to get rate quotes. There are more efficient ways to compare insurance coverage rates and we’ll show you the best way to compare rates for a Lexus and locate the lowest price from both online companies and local agents.

These five discounts can reduce car insurance rates

Some companies do not list every possible discount in a way that’s easy to find, so below is a list both well-publicized and the more hidden discounts you could be receiving when you buy insurance online.

  • Student Discount for Driver Training – Require your teen driver to successfully take a drivers education course if it’s offered in school.
  • College Student – Older children who are attending college and leave their car at home may qualify for this discount.
  • Government Employee Discount – Simply working for the federal government can save as much as 8% for IS 350 insurance with a few car insurance companies.
  • Anti-theft Discount – Cars and trucks equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen so companies will give you a small discount.
  • Safe Driver Discount – Insureds without accidents can save up to 40% or more on their insurance quote for IS 350 insurance than drivers with accident claims.

Remember that some of the credits will not apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, it just doesn’t work that way. Any qualifying discounts will reduce the cost of coverage.

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

  • American Family includes discounts for good student, TimeAway discount, bundled insurance, accident-free, good driver, multi-vehicle, and Steer into Savings.
  • Farm Bureau offers discounts including safe driver, youthful driver, driver training, good student, and multi-policy.
  • State Farm has discounts for multiple policy, Steer Clear safe driver discount, multiple autos, anti-theft, passive restraint, and accident-free.
  • Travelers offers discounts for early quote, driver training, IntelliDrive, multi-policy, and new car.
  • The Hartford policyholders can earn discounts including bundle, air bag, vehicle fuel type, anti-theft, and defensive driver.
  • GEICO may have discounts that include driver training, membership and employees, multi-policy, air bags, defensive driver, emergency military deployment, and multi-vehicle.
  • Progressive may offer discounts for continuous coverage, multi-vehicle, multi-policy, good student, online signing, online quote discount, and homeowner.

Before buying, ask every company which discounts you qualify for. Some credits may not apply to policies in your state. To see a list of car insurance companies with the best car insurance discounts, enter your zip code here.

Tricks in auto insurance advertising

Consumers can’t get away from ads that promise big savings for switching from companies such as 21st Century, Allstate and State Farm. All the ads make the point that people will save if you change your auto insurance coverage to their company.

How is it possible that every company can charge you less for car insurance? It’s all in the numbers.

All the different companies have strict underwriting profiles for the type of customer that earns them the most money. A good example of a preferred risk might be described as a married male, has had continuous coverage, and does not commute to work. A prospective insured who matches those parameters will most likely get cheap premium rates and will also cut their rates if they switch.

Insureds who cannot meet the “perfect” profile will see higher premium rates and this results in the customer not buying. The wording the ads use say “customers that switch” not “everyone that quotes” can save as much as they claim. This is how insurance companies can make claims that they all have the best car insurance rates. Different companies use different criteria so you need to quote coverage with many companies. Because you never know which insurance companies will be your best fit.

When do I need an agent’s advice?

When it comes to buying coverage for your personal vehicles, there really is no “best” method to buy coverage. Every situation is different.

For example, these questions might help in determining if you could use an agent’s help.

  • When should I drop full coverage on my 2023 Lexus IS 350?
  • How high should my medical payments coverage be?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Do I need more liability coverage?
  • Do I need replacement cost coverage?
  • Is my trailer covered?
  • Can I make deliveries for my home business?

If it’s difficult to answer those questions but one or more may apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out your zip code. It only takes a few minutes and you can get the answers you need.

Parts of your auto insurance policy

Learning about specific coverages of your auto insurance policy can help you determine which coverages you need for your vehicles. Auto insurance terms can be confusing and nobody wants to actually read their policy.

Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as vandalism, a broken windshield, damage from a tornado or hurricane, rock chips in glass and damage from getting keyed. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Collision – Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as sustaining damage from a pot hole, sideswiping another vehicle, hitting a parking meter, crashing into a building and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

Insurance for medical payments – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for doctor visits, EMT expenses, pain medications and X-ray expenses. They are used to fill the gap from your health insurance program or if you lack health insurance entirely. They cover both the driver and occupants and will also cover 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

Auto liability insurance – This provides protection from damages or injuries you inflict on people or other property that is your fault. This coverage protects you against other people’s claims, and doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage pays for things like legal defense fees, bail bonds, pain and suffering and loss of income. How much liability should you purchase? That is up to you, but buy higher limits if possible.

Cheaper insurance is a realistic goal

You just learned some good ideas how you can compare 2023 Lexus IS 350 insurance prices online. The most important thing to understand is the more companies you get rates for, the better your comparison will be. You may be surprised to find that the biggest savings come from some of the smallest insurance companies.

Insureds change insurance companies for a variety of reasons including high prices, denial of a claim, high rates after DUI convictions or unfair underwriting practices. Regardless of your reason for switching companies, finding a new car insurance company can be easy and end up saving you some money.

Budget-conscious 2023 Lexus IS 350 insurance can be purchased online as well as from independent agents, and you should be comparing both so you have a total pricing picture. Some car insurance companies may not have online quoting and usually these regional insurance providers only sell through independent agents.

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