Trying to find better insurance rates for your Lexus IS 350? Scraping up a payment for overpriced Lexus IS 350 insurance can take a big chunk out of your personal savings and put a big crunch on your finances. Shopping your coverage around is a great way to slash your bill and have more diposable income.
Insurance companies such as State Farm, Allstate, GEICO and Progressive increase brand awareness with TV and radio ads and it is challenging if not impossible to ignore the propoganda and do the work needed to find the best deal.
It’s a great practice to price shop coverage at least once a year due to the fact that insurance rates change quite often. Even if you got the best price on IS 350 insurance six months ago there is a good chance you can find better rates now. So just forget all the misinformation about insurance because I’m going to teach you one of the quickest ways to find lower rates on insurance.
If you have car insurance now, you should be able to save some money using this strategy. Buying car insurance is not rocket science. Nevertheless, drivers can benefit by having an understanding of the way companies sell online and apply this information to your search.
The price of auto insurance can be rather high, but there could be available discounts that you may not know about. Certain discounts will be applied when you complete an application, but a few need to be asked for prior to receiving the credit.
It’s important to understand that most of the big mark downs will not be given to your bottom line cost. A few only apply to individual premiums such as comprehensive or collision. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way. But all discounts will reduce your overall premium however.
To see a list of insurance companies with discount insurance coverage rates, follow this link.
When buying the best insurance coverage coverage, there is no cookie cutter policy. Each situation is unique so your insurance should reflect that Here are some questions about coverages that might help in determining whether you would benefit from professional advice.
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.
Understanding the coverages of auto insurance aids in choosing the best coverages and proper limits and deductibles. Auto insurance terms can be ambiguous and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most auto insurance policies.
Medical expense coverage – Coverage for medical payments and/or PIP kick in for bills like rehabilitation expenses, hospital visits, dental work, funeral costs and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover all vehicle occupants as well as getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage
Liability auto insurance – This coverage can cover damages or injuries you inflict on other’s property or people in an accident. It protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Some companies may use a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability coverage pays for things such as attorney fees, emergency aid, pain and suffering, repair bills for other people’s vehicles and funeral expenses. How much liability coverage do you need? That is a personal decision, but consider buying as large an amount as possible.
Collision coverage – Collision insurance covers damage to your IS 350 resulting from a collision 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 things such as sustaining damage from a pot hole, hitting a parking meter and scraping a guard rail. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible to save money on collision insurance.
Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Lexus IS 350.
Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Normally the UM/UIM limits are set the same as your liablity limits.
Comprehensive protection – This pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as fire damage, a tree branch falling on your vehicle, damage from getting keyed and falling objects. The maximum payout a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
You just learned quite a bit of information on how to lower your 2007 Lexus IS 350 insurance rates. The most important thing to understand is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the most savings is with some of the smallest insurance companies. Smaller companies may only write in your state and offer lower rates as compared to the big name companies such as State Farm and Allstate.
Cost effective insurance can be purchased on the web and also from your neighborhood agents, and you need to comparison shop both to have the best selection. Some insurance companies may not provide online quoting and usually these regional insurance providers provide coverage only through local independent agents.
More detailed insurance information is available in these articles: