2002 Lexus IS 300 Insurance Cost – 9 Discounts for Cheapest Prices

Looking for cheaper insurance coverage rates for your Lexus IS 300? Beginners to comparing insurance coverage rates on the web will discover locating cheap insurance is tougher than they thought.

If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using these methods. Locating the cheapest protection can be fairly easy. Nevertheless, car owners must know the methods companies use to market on the web and use this information to your advantage.

Save a ton by applying these nine discounts

Car insurance companies don’t list all disounts very well, so the next list breaks down both the well known and also the more inconspicuous credits that may apply to you. If you do not check that you are getting every discount you deserve, you are throwing money away.

  • Anti-lock Brakes – Cars and trucks that have steering control and anti-lock brakes are safer to drive so companies give up to a 10% discount.
  • Good Students Pay Less – Performing well in school may save you up to 25%. You can use this discount normally up until you turn 25.
  • Distant College Student Discount – College-age children who live away from home to go to college and do not have a car may qualify for this discount.
  • Discount for Passive Restraints – Vehicles equipped with air bags or automatic seat belts can get savings of 20% or more.
  • Save with More Vehicles Insured – Drivers who insure multiple cars or trucks with the same company can get a discount on all vehicles.
  • Save over 55 – Mature drivers may be able to get better insurance coverage rates on IS 300 coverage.
  • Telematics Data Discounts – Drivers who elect to allow their company to look at driving habits by using a small device installed in their vehicle such as Snapshot from Progressive or Drivewise from Allstate may see discounts as long as they are good drivers.
  • Military Deployment Discount – Being deployed with a military unit could mean lower rates.
  • Driver’s Education for Students – Teen drivers should enroll and complete driver’s education in school or through a local driver safety program.

Discounts reduce rates, but you should keep in mind that most discounts do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though it may seem like having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy. Any amount of discount will help lower the cost of coverage.

A few of the larger companies and their offered discounts are included below.

  • State Farm offers discounts including passive restraint, multiple policy, good student, driver’s education, accident-free, and anti-theft.
  • Geico may have discounts that include defensive driver, federal employee, good student, five-year accident-free, anti-theft, multi-vehicle, and multi-policy.
  • SAFECO policyholders can earn discounts including accident prevention training, anti-theft, homeowner, multi-car, teen safe driver, teen safety rewards, and anti-lock brakes.
  • Farmers Insurance has discounts for mature driver, teen driver, business and professional, distant student, multi-car, switch companies, and electronic funds transfer.
  • AAA may offer discounts for pay-in-full, anti-theft, education and occupation, multi-policy, good student, multi-car, and AAA membership discount.
  • USAA has savings for safe driver, family discount, multi-policy, new vehicle, and loyalty savings.

When comparing rates, check with every prospective company the best way to save money. Some discounts listed above might not apply in your state.

Your auto insurance coverage should be tailored to you

When choosing adequate coverage for your personal vehicles, there really is no “best” method to buy coverage. Your needs are not the same as everyone else’s.

For example, these questions may help you determine if you might need professional guidance.

  • Should I buy only the required minimum liability coverage?
  • When do I need to add a new car to my policy?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does insurance cover damages from a DUI accident?
  • Do I need replacement cost coverage on my 2002 Lexus IS 300?
  • Is my 2002 Lexus IS 300 covered for flood damage?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, simply complete this short form.

Information about specific coverages

Learning about specific coverages of your policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for short-term medical expenses for funeral costs, hospital visits, nursing services and prosthetic devices. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible

Collision coverages – Collision insurance will pay to fix damage to your IS 300 resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as hitting a parking meter, damaging your car on a curb, hitting a mailbox and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. You can also choose a higher deductible to bring the cost down.

Auto liability – This coverage can cover injuries or damage you cause to other’s property or people in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 100/300/100 that translate to a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims like medical expenses, medical services and bail bonds. How much liability should you purchase? That is a personal decision, but consider buying as much as you can afford.

Comprehensive insurance – Comprehensive insurance covers damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like a broken windshield, falling objects, rock chips in glass and fire damage. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and also any damage incurred to your Lexus IS 300.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Get your money’s worth

Lower-priced auto insurance can be bought both online and with local insurance agents, so get free insurance quotes from both of them in order to have the best price selection to choose from. Some auto insurance companies may not have the ability to get a quote online and most of the time these regional insurance providers only sell coverage through local independent agents.

Insureds who switch companies do it for many reasons like delays in paying claims, high prices, an unsatisfactory settlement offer or extreme rates for teen drivers. Whatever your reason, finding the right auto insurance provider is pretty simple and you could end up saving a buck or two.

When searching for low cost insurance quotes, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped liability limits or collision coverage only to regret at claim time that it was a big error on their part. Your strategy should be to buy a smart amount of coverage for the lowest price.

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