Save Money on Lexus IS 350 Insurance in Jacksonville

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Insurance for Lexus IS 350The best way to get affordable Lexus IS 350 insurance in Jacksonville is to start comparing prices yearly from providers in Florida.

  1. Get an understanding of car insurance and the things you can control to drop your rates. Many things that result in higher rates like traffic violations, accidents, and a less-than-favorable credit score can be eliminated by making minor changes to your lifestyle. Read the full article for more details to help keep prices low and find overlooked discounts.
  2. Compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like Progressive or State Farm, while agents who are independent can quote prices for a wide range of insurance providers.
  3. Compare the new quotes to your existing rates and see if you can save money. If you find a lower rate and make a switch, make sure there is no lapse in coverage.
  4. Notify your company or agent to cancel your current auto insurance policy and submit a completed application and payment to the new company. As soon as you receive it, keep your new certificate verifying proof of insurance in an easily accessible location in your vehicle.

An important bit of advice to remember is that you'll want to make sure you compare identical deductibles and limits on each quote request and and to look at as many different insurance providers as possible. Doing this helps ensure a level playing field and and a good selection of different prices.

It's well known that car insurance companies don't want customers comparing rates. People who do rate comparisons will, in all likelihood, buy a different policy because the odds are good of finding a policy with better rates. Remarkably, a study showed that people who compared rates once a year saved about $3,400 over four years compared to policyholders who never shopped around.

If finding the lowest price for Lexus IS 350 insurance is your objective, then having some insight into how to shop for insurance can make it simple to find affordable coverage.

Quoting affordable protection in Jacksonville is simple if you know the tricks. Basically, every driver who quotes insurance will more than likely be able to save money. Nevertheless, Florida car owners need to have an understanding of how insurance companies charge you for coverage because it varies considerably.

When comparison shopping, more quotes will increase your chances of finding the best rates.

The companies shown below are our best choices to provide quotes in Florida. If more than one company is shown, we suggest you compare several of them in order to find the lowest rates.

Determine discounts on Jacksonville insurance

Insurance can be pricey, but you may qualify for discounts that could drop your premiums quite a bit. Some discounts apply automatically when you quote, but a few must be manually applied before you will receive the discount.Discount insurance

  • Multi-car Discount - Buying a policy with multiple cars or trucks on one policy qualifies for this discount.
  • Savings for New Vehicles - Buying coverage on a new vehicle can be considerably cheaper due to better safety requirements for new model year vehicles.
  • Jacksonville Homeowners Pay Less - Just owning your own home may trigger a policy discount on insurance due to the fact that maintaining a home is proof that your finances are in order.
  • Club Memberships - Being in certain professional organizations could trigger savings on your policy.
  • Driver's Education for Students - Have your child complete a driver education course as it can save substantially.
  • Bundle and Save - When you combine your home and auto insurance with the same company you could save at least 10 to 15 percent or more.
  • Defensive Driver Discount - Taking time to complete a course in driver safety could cut 5% off your bill and also improve your driving technique.
  • Anti-theft System - Vehicles that have factory alarm systems and tracking devices are stolen less frequently so companies will give you a small discount.
  • Smart Student Discounts - Being a good student can be rewarded with saving of up to 25%. This discount can apply until age 25.

While discounts sound great, it's important to understand that some credits don't apply to all coverage premiums. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, insurance companies wouldn't stay in business.

The chart below visualizes the comparison of Lexus IS 350 insurance costs with and without some available policy discounts. The rate quotes are based on a female driver, no claims or driving citations, Florida state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, homeowner, multi-policy, and safe-driver discounts applied.

A few popular companies and the discounts they provide are included below.

  • Esurance includes discounts for Switch & Save, claim free, good driver, safety device, and Pac-12 alumni.
  • The Hartford offers discounts including defensive driver, air bag, good student, bundle, and anti-theft.
  • AAA offers discounts for multi-policy, good student, good driver, education and occupation, pay-in-full, anti-theft, and multi-car.
  • GEICO may include discounts for air bags, anti-lock brakes, multi-vehicle, seat belt use, and military active duty.
  • State Farm may have discounts that include good driver, defensive driving training, good student, Steer Clear safe driver discount, student away at school, Drive Safe & Save, and multiple policy.

If you need the cheapest Lexus IS 350 rate quotes, ask each insurance company how you can save money. Discounts might not be available to policyholders in every state. To choose insurance companies offering insurance discounts in Florida, click here to view.

Insurance rate breakdown

The information below outlines detailed analysis of insurance rates for Lexus IS 350 models. Understanding more about how insurance quotes are figured can be valuable when making smart buying decisions.

Lexus IS 350 Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $398 $848 $504 $30 $152 $1,932 $161
IS 350 C 2-Dr Convertible $398 $848 $504 $30 $152 $1,932 $161
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in vehicle location which can impact insurance rates greatly.

Higher deductibles save money

The hardest decision when buying coverage is which deductible level should you buy. The rates shown below can help show how much more rates are of buying low and high physical damage deductibles. The first set of rates uses a $100 deductible for physical damage and the second price chart uses a $500 deductible.

Lexus IS 350 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $452 $880 $418 $24 $124 $1,923 $160
IS 350 C 2-Dr Convertible $452 $880 $418 $24 $124 $1,923 $160
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Lexus IS 350 insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $330 $594 $418 $24 $124 $1,490 $124
IS 350 C 2-Dr Convertible $330 $594 $418 $24 $124 $1,490 $124
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Premium amounts do not factor in vehicle garaging location which can raise or lower premium rates considerably.

Based on the data above, we can derive that using a $100 deductible costs about $36 more each month or $432 annually than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 11 months between claim filings, you would come out ahead if you elect the higher deductible.

Should you buy full coverage?

The illustration below illustrates the comparison of Lexus IS 350 car insurance costs when comparing full coverage to liability only. The data assumes no claims or violations, $250 deductibles, marital status is single, and no discounts are taken into consideration.

Deciding between full coverage and liability only

There isn't a steadfast formula that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let's say your Lexus IS 350 settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,000 after paying your deductible. If you are paying over $400 a year to have full coverage, then you might consider buying liability only.

There are a few situations where removing full coverage is not in your best interest. If you haven't satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.

How to Lower Your Insurance Rates

Lots of factors are considered when premium rates are determined. Most are fairly basic like an MVR report, but other factors are more obscure such as your credit history or your financial responsibility.

Insurance prices and vehicle performance - The type of car you are insuring makes a significant difference in your premium level. Small economy passenger cars usually have the lowest rates, but that's not the only thing that factors into the final price.

The data below uses these assumptions: single female driver age 50, full coverage with $100 deductibles, and no discounts or violations. The data compares Lexus IS 350 car insurance rates compared to other models that have a range of risk factors.

Rates can change based on your address - Choosing to live in less populated areas is a positive aspect when it comes to insurance. City drivers regularly have more traffic problems and more time behind the wheel. Fewer drivers and short commutes means reduced accidents in addition to fewer liability claims.

Are females or males drivers cheaper? - Statistics demonstrate that females take fewer risks when driving. The data does not necessarily mean that women are BETTER drivers than men. Both sexes cause fender benders in similar percentages, but the men have costlier accidents. They also have more aggressive citations like DWI (DUI) or reckless driving.

The chart below illustrates the difference between Lexus IS 350 yearly insurance costs for male and female drivers. The data is based on no claims or driving violations, full coverage, $250 deductibles, drivers are single, and no discounts are taken into consideration.

Multiple policies with one company - Most insurance companies give better rates to buyers who buy several policies from them such as combining an auto and homeowners policy. If you currently are using one company, you may still want to compare Lexus IS 350 rates in Jacksonville to help ensure you have the lowest rates.

Do thieves like your car? - Choosing a vehicle that has a built-in theft deterrent system can help lower your rates. Anti-theft features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent car theft and help bring rates down.

Better premiums on vehicles with better crash test results - Safer cars are cheaper to insure. The safest vehicles reduce occupant injuries and lower injury rates translates into savings for insurance companies and lower rates for you. If your Lexus IS 350 has at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.

Insurance loss probability for a Lexus IS 350 - Insurers use past insurance losses to calculate a price that offsets possible losses. Vehicles that historically have higher claim amounts or frequency will have higher rates for specific coverages.

The table shown below demonstrates the historical insurance loss data for Lexus IS 350 vehicles. For each coverage category, the statistical loss for all vehicles compiled together is considered to be 100. Values under 100 mean the vehicle has better than average losses, while values that are 100 or greater indicate a higher chance of having a claim or statistically larger claims.

Lexus IS 350 Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus IS 350 4dr 2WD 165 88 186 101
Lexus IS 350 4dr 4WD 200 72 206
Lexus IS 350 Convertible 98
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years