2006 Lexus IS 250 Car Insurance Rates – 7 Ways to Save

Looking for the cheapest car insurance rates for your Lexus IS 250? Finding low cost coverage rates on car insurance may be challenging for drivers who are beginners to comparison shopping online. There are so many choices that it can be a big hassle to find better prices.

It’s smart to get comparison quotes at least once a year because insurance prices tend to go up over time. Just because you found the best deal for IS 250 coverage a year ago a different company probably has better premium rates today. There is a lot of bad information regarding car insurance online, but I’m going to show you some great ideas on how to quit paying high car insurance rates.

If you are paying for car insurance now, you stand a good chance to be able to lower your premiums substantially using these techniques. The purpose of this article is to help you learn the most effective way to quote insurance and some money-saving tips. But vehicle owners do need to learn how big insurance companies compete online and take advantage of how the system works.

How to compare car insurance quotes

There are multiple methods to shop for car insurance, but there is one way that is less time-consuming than others. You could waste time driving to local insurance agents in your area, or you can utilize online quotes for quick rates.

Many popular insurance companies participate in a marketplace where prospective buyers send in one quote, and at least one company then returns a price quote for coverage. This prevents consumers from doing form submissions for each company you want a rate for. To submit your quote information now, click here (opens in new window).

The one disadvantage to getting quotes like this is buyers cannot specifically choose which companies to receive prices from. So if you prefer to pick from a list of companies to compare rates, we have assembled a list of companies who write car insurance in your area. View list of insurance companies.

Which method you use is up to you, but ensure you are comparing apples-to-apples coverages and limits for every quote you compare. If you enter differing limits you will not be able to determine which rate is truly the best. Even a minor difference in insurance coverages or limits may cause a big price difference. And when price shopping your coverage, comparing a large number of companies increases your odds of finding more affordable insurance.

Car Insurance Discounts

Car insurance can be pricey, but there could be significant discounts to help offset the cost. Many discounts should be triggered when you complete an application, but a few must be asked for before you will receive the discount. If you aren’t receiving every discount available, you are paying more than you should be.

  • Distant Student Discount – Older children who live away from home at college without a vehicle on campus could get you a discount.
  • Government Employee Discount – Active or former government employment can earn a discount up to 10% for IS 250 coverage depending on your company.
  • Accident-Free Discounts – Drivers who don’t have accidents get the best car insurance rates compared to drivers with a long claim history.
  • First Accident Forgiveness – Not really a discount, but certain companies may permit one accident without raising rates so long as you haven’t had any claims prior to the accident.
  • Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase life insurance.
  • Low Mileage – Maintaining low annual mileage may allow you to get discounted rates on garaged vehicles.
  • Student Discounts – Getting good grades may save as much as 25% on a insurance quote. The discount lasts up to age 25.

A little note about advertised discounts, most credits do not apply the the whole policy. The majority will only reduce the cost of specific coverages such as comp or med pay. So even though you would think all the discounts add up to a free policy, it’s just not the way it works.

Popular car insurance companies and their offered discounts are included below.

  • Geico offers discounts for anti-lock brakes, multi-policy, federal employee, five-year accident-free, military active duty, good student, and anti-theft.
  • Mercury Insurance includes discounts for age of vehicle, good driver, multi-car, low natural disaster claims, and good student.
  • Farmers Insurance policyholders can earn discounts including mature driver, switch companies, youthful driver, homeowner, and early shopping.
  • Auto-Owners Insurance may have discounts that include safe vehicle, paid in full, anti-lock brakes, air bags, and multiple vehicles.
  • Liberty Mutual offers discounts including hybrid vehicle, good student, exclusive group savings, newly retired, and teen driver discount.
  • SAFECO has discounts for bundle discounts, homeowner, anti-lock brakes, anti-theft, teen safe driver, drive less, and safe driver.
  • Progressive offers premium reductions for multi-vehicle, online signing, good student, continuous coverage, online quote discount, multi-policy, and homeowner.
  • USAA may offer discounts for defensive driver, annual mileage, family discount, multi-policy, loyalty savings, and multi-vehicle.

If you are trying to find cheap insurance quotes, ask each company or agent which credits you are entitled to. All car insurance discounts may not apply to policyholders in your area. To find car insurance companies with the best car insurance discounts, click this link.

Tailor your insurance coverage to you

When buying the best insurance coverage, there really is not a perfect coverage plan. Every situation is different.

Here are some questions about coverages that may help you determine whether you would benefit from professional advice.

  • Should I file a claim if it’s only slightly more than my deductible?
  • What happens if I owe more than my 2006 Lexus IS 250 is worth?
  • Why do I need rental car insurance?
  • What are the best liability limits?
  • Do I pay less if my vehicle is kept in my garage?
  • How can I get high-risk coverage after a DUI?
  • When can I cancel my policy?
  • Is my trailer covered?
  • Can I pay claims out-of-pocket if I buy high deductibles?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed agent. If you don’t have a local agent, simply complete this short form.

Car insurance coverage information

Having a good grasp of your car insurance policy can help you determine the right coverages at the best deductibles and correct limits. Car insurance terms can be difficult to understand and coverage can change by endorsement.

Liability coverage – This coverage can cover damage or injury you incur to people or other property by causing an accident. This insurance protects YOU against other people’s claims. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability can pay for things such as structural damage, repair costs for stationary objects, loss of income and medical services. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford.

Collision coverage – Collision insurance covers damage to your IS 250 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 can pay for claims like backing into a parked car, colliding with a tree and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

UM/UIM Coverage – Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Medical costs insurance – Med pay and PIP coverage reimburse you for short-term medical expenses like X-ray expenses, prosthetic devices, pain medications and funeral costs. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not available in all states and may carry a deductible

Comprehensive or Other Than Collision – This pays for damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as rock chips in glass, falling objects, theft, hail damage and damage from flooding. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Be a penny pincher

People change insurance companies for a variety of reasons including unfair underwriting practices, lack of trust in their agent, questionable increases in premium or even policy cancellation. Whatever your reason, finding a new insurance coverage company is pretty easy and you might even save some money in the process.

Lower-priced insurance coverage can be purchased from both online companies as well as from independent agents, so get free insurance quotes from both of them in order to have the best price selection to choose from. Some insurance companies do not offer online price quotes and usually these smaller companies prefer to sell through independent insurance agents.

When buying insurance coverage, it’s not a good idea to reduce coverage to reduce premium. Too many times, someone sacrificed liability coverage limits only to discover later that it was a big error on their part. Your goal is to buy enough coverage at the best possible price and still be able to protect your assets.

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