2008 Lexus IS 350 Insurance Cost – 7 Discounts for Cheaper Prices

Trying to find cheaper insurance coverage rates for your Lexus IS 350? Shopping for car insurance is not really something consumers love to do, but unfortunately it’s required to be legal on the road.

It’s important to compare rates every six months since insurance rates trend upward over time. Despite the fact that you may have had the lowest price for IS 350 coverage on your last policy there is a good chance you can find better rates now. There is a lot of bad advice regarding insurance coverage on the web, but we’re going to give you some solid techniques on how to slash your insurance coverage rates.

Discounts are basically free money

Companies do not list every discount in an easy-to-find place, so we researched some of the more common and the harder-to-find savings tricks you should be using.

  • New Vehicle Savings – Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
  • Fewer Miles Equal More Savings – Low mileage vehicles can qualify you for discounted rates on garaged vehicles.
  • Homeowners Pay Less – Owning a house can help you save on insurance due to the fact that maintaining a home requires personal responsibility.
  • Life Insurance – Some companies give a break if you buy life insurance.
  • Claim Free – Drivers who don’t have accidents pay less when compared with drivers who are more careless.
  • Sign Online – A few companies give back up to $50 for buying your policy online.
  • Seat Belts Save – Requiring all passengers to buckle their seat belts can save up to 15% off the personal injury premium cost.

A little note about advertised discounts, some credits don’t apply to all coverage premiums. Some only reduce the cost of specific coverages such as liability, collision or medical payments. So when the math indicates all the discounts add up to a free policy, it doesn’t quite work that way.

Companies that may offer these benefits include:

Double check with each company which discounts you may be entitled to. All car insurance discounts might not apply in your area.

Which insurance is the “right” coverage?

When it comes to choosing coverage for your vehicles, there really is not a “perfect” insurance plan. Each situation is unique.

These are some specific questions may help you determine whether your personal situation would benefit from professional advice.

  • Does medical payments coverage apply to all occupants?
  • What are the best liability limits?
  • How do I buy GAP insurance?
  • Do I need medical payments coverage since I have good health insurance?
  • Do I have coverage when pulling a U-Haul trailer?
  • Is my ex-spouse still covered by my policy?
  • Is my custom paint covered by insurance?
  • Are rock chip repairs covered?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form.

Car insurance coverages for a Lexus IS 350

Knowing the specifics of auto insurance aids in choosing the right coverages for your vehicles. Auto insurance terms can be confusing and coverage can change by endorsement.

Uninsured or underinsured coverage – This coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your 2008 Lexus IS 350.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.

Liability insurance – This coverage will cover damage or injury you incur to other people or property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 25/50/25 which means $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability coverage pays for claims like medical expenses, attorney fees and medical services. How much liability coverage do you need? That is up to you, but consider buying as high a limit as you can afford.

Collision coverages – Collision insurance covers damage to your IS 350 resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as hitting a parking meter, scraping a guard rail, sustaining damage from a pot hole, crashing into a ditch and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Comprehensive protection – Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from getting keyed, hail damage, fire damage and damage from flooding. The highest amount your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Medical expense coverage – Med pay and PIP coverage pay for short-term medical expenses like pain medications, funeral costs, hospital visits, dental work and ambulance fees. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

A tidy conclusion

In this article, we covered a lot of ways to lower your 2008 Lexus IS 350 insurance rates. The key concept to understand is the more rate comparisons you have, the higher your chance of finding lower rates. Drivers may discover the lowest rates come from a small mutual company.

People who switch companies do it for a variety of reasons including poor customer service, high rates after DUI convictions, lack of trust in their agent or policy non-renewal. It doesn’t matter what your reason, finding a great new company is actually quite simple.

When buying insurance coverage, it’s not a good idea to sacrifice coverage to reduce premiums. Too many times, someone dropped full coverage only to discover later that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.

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