Cheapest Insurance for a Lexus IS 350 in Toledo

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Insurance for Lexus IS 350If you want to save money, the best way to get discount auto insurance rates in Toledo is to compare quotes annually from providers in Ohio.

First, take a few minutes and learn about the coverage provided by your policy and the measures you can control to prevent rate increases. Many things that drive up the price like traffic citations and a low credit score can be eliminated by being financially responsible and driving safely. Keep reading for additional tips to prevent expensive rate increases and get additional discounts that may be available.

Second, compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agencies can give you price quotes from many different companies. Select a company

Third, compare the new rates to your current policy to determine if you can save on IS 350 insurance. If you find better rates, make sure the effective date of the new policy is the same as the expiration date of the old one.

Fourth, provide notification to your current agent or company to cancel your current car insurance policy and submit a down payment and signed policy application to the newly selected company. As soon as you receive it, safely store the proof of insurance certificate in your vehicle's glove compartment or console.

An important note is that you'll want to compare similar coverage information on every price quote and and to get quotes from as many different insurance providers as possible. Doing this helps ensure an accurate price comparison and the most accurate and complete price analysis.

Surprisingly, a recent survey revealed that the majority of drivers kept buying from the same company for well over three years, and approximately 38% of consumers have never quoted auto insurance rates at all. Many drivers in Toledo can save hundreds of dollars each year just by shopping around, but most just don't grasp the actual amount they would save if they switched to a cheaper policy.

Lowering your insurance rates is not a difficult process. Drivers just need to spend a little time comparing rates online with multiple companies.

Comparison shopping rates online is easy and it replaces the need to actually drive to all the different Toledo insurance agencies. The internet can eliminate the need for a local agent unless you're the type of person who wants the advice and guidance that only a licensed agent can provide. Some companies do allow you to get prices online and still use a local agent.

The following companies are ready to provide comparison quotes in Toledo, OH. To get the best car insurance in Toledo, we suggest you get rate quotes from several of them to get a more complete price comparison.

Lexus IS 350 coverage statistics

The price information below highlights estimates of policy rates for Lexus IS 350 models. Understanding how premiums are established helps drivers make smart choices when selecting a coverage provider.

Lexus IS 350 Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $130 $284 $296 $18 $88 $816 $68
IS 350 C 2-Dr Convertible $130 $284 $296 $18 $88 $816 $68
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Rates do not factor in vehicle garaging location which can affect premium rates substantially.

Higher deductibles save money

When buying car insurance, a common question is how low should you set your deductibles. The rates shown below summarize how much more you'll pay when you buy lower versus higher physical damage deductibles. The first data set uses a $250 deductible and the second rate chart uses a $1,000 deductible.

Lexus IS 350 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $220 $400 $226 $14 $68 $953 $79
IS 350 C 2-Dr Convertible $220 $400 $226 $14 $68 $953 $79
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Lexus IS 350 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $136 $252 $226 $14 $68 $696 $58
IS 350 C 2-Dr Convertible $136 $252 $226 $14 $68 $696 $58
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Prices do not factor in zip code location which can lower or raise insurance rates noticeably.

Using the premium rates above, we can conclude that using a $250 deductible will cost in the ballpark of $21 more each month or $252 for a full year than opting for the higher $1,000 deductible. Because you would be required to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 36 months between claims, you would probably come out ahead if you decide on a higher deductible.

The example below demonstrates how deductible levels and can influence Lexus IS 350 annual premium costs for different age categories. The data assumes a single male driver, full coverage, and no additional discounts are factored in.

Three reasons car insurance is important

Despite the high insurance cost for a Lexus IS 350 in Toledo, insurance serves several important purposes.

  • Most states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability in order to get the vehicle licensed. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your Lexus IS 350 has a lienholder, most lenders will require you to have insurance to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender will be forced to insure your Lexus for a lot more money and force you to reimburse them a much higher amount than you were paying before.
  • Car insurance protects not only your Lexus but also your assets. It will also provide coverage for many types of medical costs incurred in an accident. One policy coverage, liability insurance, will also pay to defend you if you cause an accident and are sued. If your Lexus gets damaged, your policy will pay to restore your vehicle to like-new condition.

The benefits of having car insurance definitely exceed the cost, especially for larger claims. According to a 2015 survey, the average American driver is overpaying more than $820 a year so it's important to compare rates every year to ensure rates are inline.

Why You Might Pay Lower Rates in Toledo

The best way to find cheaper auto insurance is to take a look at a few of the rating criteria that play a part in calculating the price you pay for auto insurance. If you have a feel for what determines base rates, this helps enable you to make changes that may result in better auto insurance rates.

Shown below are some of the most rate-impacting factors that factor into premiums.

Premiums for men may be higher - Over the last 50 years, statistics have shown that men are more aggressive behind the wheel. It does not mean men are WORSE drivers than women. Men and women are responsible for fender benders in similar numbers, but guys cause more damage. Men also tend to receive more major tickets such as reckless driving. Young men ages 16 to 20 are most likely to cause an accident so they pay the highest premiums.

The diagram below shows the comparison of Lexus IS 350 insurance rates for male and female drivers. The costs are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

Big city or small town - Having an address in a rural area has definite advantages when buying auto insurance. People who live in big cities regularly have more traffic problems and a longer drive to work. Less people living in that area means less chance of accidents.

Expect high rates for teens - Mature drivers are viewed as being more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets. Inexperience drivers have been known to be easily distracted when driving and because of this, their auto insurance rates are much higher.

The following data uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Know your vehicle's NHTSA crash test rating - Safe vehicles cost less to insure. Vehicles engineered for safety protect occupants better and lower rates of occupant injuries translates into savings for insurance companies which can mean better rates for you.

Use but don't abuse your insurance - If you're an insured who likes to file claims you should expect much higher rates or policy non-renewal. Insurance companies in Ohio provide lower rates to drivers who do not file claims often. Auto insurance is intended for the large, substantial claims.

Cheaper premiums using alarms and GPS tracking - Driving a car that has a built-in theft deterrent system can help lower your premiums. Advanced theft deterrents such as OnStar, LoJack tracking, and tamper alarms all help prevent car theft.

Performance impacts insurance prices - The make and model of the car or truck you are trying to find cheaper insurance for makes a huge difference in your rates. The lowest premiums are usually found on smaller low performance passenger cars, but there are many factors that impact the final cost.

The next chart is based on a single male driver age 20, full coverage with $250 deductibles, and no discounts or violations. The data compares Lexus IS 350 rates compared to other models of vehicles that have different performance rating factors.

Lexus IS 350 claim data - Car insurance companies use past loss statistics for each vehicle when setting premium rates. Vehicles that the statistics show to have higher frequency or amount of claims will cost more for coverage. The table below demonstrates the loss history for Lexus IS 350 vehicles.

For each coverage category, the claim amount for all vehicles averaged together is represented as 100. Numbers under 100 indicate better than average losses, while percentages above 100 indicate a higher chance of having a claim or a tendency for losses to be larger than average.

Insurance Loss Ratings for Lexus IS 350 Vehicles
Vehicle 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Insurance policy discounts for Lexus IS 350 insurance in Toledo

Companies offering auto insurance don't always list all their discounts in a way that's easy to find, so the following list contains some of the best known as well as the least known savings tricks you should be using when you buy Toledo auto insurance online.Discount insurance

  • Paperwork-free - Some larger companies will discount your bill up to fifty bucks for completing your application on the internet.
  • Anti-lock Brake System - Cars equipped with ABS or steering control have fewer accidents so companies give up to a 10% discount.
  • Theft Deterrent - Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and qualify for as much as a 10% discount.
  • Air Bags and Passive Restraints - Options like air bags or motorized seat belts can receive discounts as much as 30%.
  • Claim Free - Toledo drivers who stay claim-free can earn big discounts in comparison to bad drivers.
  • Savings for New Vehicles - Insuring a vehicle that is new can get you a discount compared to insuring an older model.
  • Accident Forgiveness Coverage - Not a discount per se, but companies like State Farm and Progressive will let one accident slide before your rates go up as long as you don't have any claims for a set time period.

Don't be shocked that many deductions do not apply to the entire policy premium. The majority will only reduce specific coverage prices like liability, collision or medical payments. So even though they make it sound like you could get a free insurance policy, that's just not realistic.

The illustration below shows the comparison of Lexus IS 350 auto insurance costs with and without some available policy discounts. The data assumes a male driver, a clean driving record, no claims, Ohio state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, claim-free, multi-policy, and marriage discounts applied.

Popular insurance companies and their offered discounts include:

  • GEICO policyholders can earn discounts including air bags, anti-lock brakes, anti-theft, good student, military active duty, and five-year accident-free.
  • MetLife has discounts for good student, defensive driver, multi-policy, claim-free, and accident-free.
  • Progressive discounts include continuous coverage, good student, multi-vehicle, multi-policy, online quote discount, homeowner, and online signing.
  • Travelers may include discounts for payment discounts, early quote, IntelliDrive, multi-policy, and student away at school.
  • SAFECO offers discounts including drive less, homeowner, anti-lock brakes, multi-car, and teen safe driver.
  • AAA may offer discounts for pay-in-full, good student, multi-car, good driver, multi-policy, AAA membership discount, and anti-theft.

Before buying, ask every company which discounts they offer. Some discounts listed above may not be offered in your state. If you would like to choose from a list of insurance companies who offer cheap Lexus IS 350 insurance quotes in Toledo, click here to view.

Exclusive or independent insurance agents

Some people still prefer to buy from a local agent and that is OK! Professional insurance agents can answer important questions and help you file claims. One of the best bonuses of comparing rate quotes online is you may find better rates and also buy local. Buying insurance from neighborhood agents is important particularly in Toledo.

Find insurance agent in ToledoTo make it easy to find an agent, after completing this short form, your insurance data gets sent to insurance agents in Toledo who will give competitive quotes for your insurance coverage. There is no need to leave your computer as quotes are delivered to you directly. If you want to quote rates from a particular provider, don't hesitate to jump over to their website to submit a rate quote request.

Selecting an provider should include more criteria than just a cheap quote. Before buying a policy in Toledo, get answers to these questions.

  • Do they have a Better Business Bureau rating in Toledo?
  • Is there any savings for paying the full premium?
  • Does the quote include credit and driving reports?
  • Is insurance their full-time profession?
  • How long have they worked with personal auto insurance coverage?
  • Are claim adjusters local or do you have to take your car somewhere else?
  • Do they assist clients in filing claims?
  • Do they make recommendations based only on price?

Final considerations

We just presented many ideas to get a better price on Lexus IS 350 insurance in Toledo. The key concept to understand is the more quotes you get, the higher the chance of saving money. Drivers may even discover the most savings is with some of the lesser-known companies. These smaller insurers can often provide lower car insurance rates in certain areas as compared to the big name companies such as Allstate and Progressive.

Cheaper Lexus IS 350 insurance in Toledo is available from both online companies as well as from independent agents in Toledo, so you need to quote Toledo auto insurance with both so you have a total pricing picture. Some insurance providers do not provide online price quotes and these smaller providers provide coverage only through independent insurance agents.

When buying insurance coverage, do not buy lower coverage limits just to save a few bucks. In many cases, someone dropped liability coverage limits only to discover later that the few dollars in savings costed them thousands. Your strategy should be to buy the best coverage you can find at the lowest possible cost but still have enough coverage for asset protection.

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