Compare Lexus IS 350 Insurance Quotes in Plano

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Insurance rates Lexus IS 350 in PlanoTo save the most money, the best way to find affordable quotes for car insurance rates is to do a yearly price comparison from insurance carriers who can sell car insurance in Plano. You can compare prices by following these steps.

First, get a basic knowledge of how your policy works and the measures you can control to drop your rates. Many policy risk factors that result in higher rates such as tickets, at-fault accidents, and an unfavorable credit rating can be controlled by making small lifestyle or driving habit changes. This article gives more information to help reduce premium rates and find additional discounts.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO or State Farm, while independent agencies can provide prices for a wide range of companies. Compare rates now

Third, compare the new rate quotes to the price on your current policy to see if a cheaper price is available. If you find a better price, make sure there is no coverage gap between policies.

One piece of advice is to make sure you enter similar limits and deductibles on each quote and and to analyze as many different companies as possible. This ensures a fair rate comparison and a thorough price selection.

It's easy to assume that car insurance companies don't want you to look for cheaper rates. People who shop around for cheaper prices will probably switch insurance companies because they have a good chance of finding a more affordable policy premium. Remarkably, a study showed that drivers who routinely shopped for cheaper coverage saved over $850 each year as compared to drivers who never shopped around for lower prices.

If finding the cheapest price on auto insurance is your target objective, then understanding how to shop and compare insurance can help you succeed in finding affordable rates.

Cheap Plano Lexus IS 350 insurance quotes online

Reducing your insurance rates is not rocket science. The only requirement is to spend a few minutes comparing rate quotes from some recommended companies.

The companies in the list below have been selected to offer quotes in Plano, TX. If multiple companies are listed, it's highly recommended you compare several of them in order to find the most competitive rates.

Don't overlook these Lexus IS 350 insurance discounts

Buying car insurance is not cheap, but you might find some hidden discounts that could help you make your next renewal payment. Many of these discounts will be applied automatically at quote time, but some discounts are required to be asked for before you will receive the discount.Save money with discounts

  • Onboard Data Collection - Insureds that choose to allow their insurance company to study driving manner by installing a telematics device such as In-Drive from State Farm or Allstate's Drivewise system could save a few bucks if they have good driving habits.
  • Online Discount - Many larger companies will give a small break for completing your application on their website.
  • Early Signing - A few companies offer discounts for signing up before your current expiration date. This can save 10% or more.
  • Discounts for Government Workers - Being employed by or retired from a federal job can save as much as 8% with a few car insurance companies.
  • Accident-Free Discounts - Plano drivers who stay claim-free get the best car insurance rates as compared to frequent claim filers.
  • Drive Less and Save - Maintaining low annual mileage could earn substantially lower rates.
  • Military Rewards - Having an actively deployed family member could mean lower prices.
  • Discount for Multiple Policies - If you have multiple policies and place coverage with the same company they may give you a discount of up to 20% and get you affordable Lexus IS 350 insurance rates in Plano.
  • Defensive Driver - Participating in a class that teaches driver safety techniques can save you 5% or more depending on where you live.

Please keep in mind that some credits don't apply to all coverage premiums. Most only cut the cost of specific coverages such as medical payments or collision. So when the math indicates it's possible to get free car insurance, companies wouldn't make money that way. Any qualifying discounts will bring down the cost of coverage.

The chart below compares Lexus IS 350 auto insurance costs with and without some available policy discounts. The price estimates are based on a female driver, no claims or driving citations, Texas state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, multi-policy, homeowner, and safe-driver discounts applied.

A list of companies and a partial list of their discounts are detailed below.

  • State Farm has savings for passive restraint, driver's education, good driver, safe vehicle, anti-theft, and multiple policy.
  • GEICO offers premium reductions for driver training, anti-theft, military active duty, membership and employees, and anti-lock brakes.
  • Allstate may offer discounts for new car, premier discount, FullPay discount, multi-policy, auto/life discount, farm vehicle, and early signing.
  • SAFECO policyholders can earn discounts including multi-car, anti-theft, drive less, homeowner, anti-lock brakes, and bundle discounts.
  • Farm Bureau has discounts for renewal discount, 55 and retired, multi-policy, safe driver, and good student.
  • Progressive offers discounts including good student, online signing, continuous coverage, online quote discount, multi-vehicle, and homeowner.
  • AAA includes discounts for multi-policy, good student, AAA membership discount, good driver, multi-car, and anti-theft.

When quoting, ask each company or agent which discounts you qualify for. Some discounts listed above might not apply in Plano.

Lexus IS 350 coverage statistics

The data table displayed below covers a range of coverage costs for Lexus IS 350 models. Having a good grasp of how prices are established can be of help when making decisions when choosing a new policy provider.

Lexus IS 350 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $318 $694 $430 $26 $128 $1,596 $133
IS 350 C 2-Dr Convertible $318 $694 $430 $26 $128 $1,596 $133
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Price information does not factor in specific garaging location which can change prices greatly.

Raise deductibles and save

When shopping for auto insurance, a common question is where should you set your physical damage deductibles. The tables below sum up the costs and benefits when you select higher and lower policy deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second data table uses a $1,000 deductible.

Lexus IS 350 insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $370 $672 $382 $22 $114 $1,585 $132
IS 350 C 2-Dr Convertible $370 $672 $382 $22 $114 $1,585 $132
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Lexus IS 350 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $228 $424 $382 $22 $114 $1,170 $98
IS 350 C 2-Dr Convertible $228 $424 $382 $22 $114 $1,170 $98
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Information does not factor in specific garaging location which can modify coverage rates considerably.

Based on the data above, we can derive that using a $250 deductible will cost you about $34 more each month or $408 annually than quoting the higher $1,000 deductible. Since you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 22 months between claim filings, you would probably be better off if you opt for a higher deductible.

How to decide to raise your deductibles

Average monthly premium for $250 deductibles: $132
Average monthly premium for $1,000 deductibles (subtract): - $98
Monthly savings from raising deductible: $34
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 22 months

One important caveat is that increasing deductibles to save money means you will have to pay more out-of-pocket when you do file a claim. You must have some extra funds in order to pay the deductible.

How careless driving impacts auto insurance rates

The example below shows how traffic citations and fender-benders can raise Lexus IS 350 insurance costs for different age groups. The prices are based on a married male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.

Auto insurance rates based on gender

The diagram below compares Lexus IS 350 premium costs for male and female drivers. The price estimates are based on no claims or driving violations, full physical damage coverage, $500 deductibles, single marital status, and no discounts are applied.

Lexus IS 350 liability-only versus full coverage

The example below compares Lexus IS 350 insurance premiums with liability coverage only compared to full coverage. The information is based on no claims or driving citations, $1,000 deductibles, drivers are single, and no discounts are factored in.

When to eliminate full coverage

There is no set guideline to stop buying physical damage insurance, but there is a broad guideline. If the annual cost of coverage is more than about 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let's assume your Lexus IS 350 replacement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after paying the physical damage deductible. If you are paying in excess of $700 annually to have full coverage, then it could be time to drop full coverage.

There are some scenarios where only buying liability is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.

When do I need to have guidance from an insurance agency?

Many drivers prefer to have an agent's advice. Agents can make sure you are properly covered and give you someone to call. One of the great benefits of comparing rate quotes online is that you can find cheap insurance quotes and still have an agent to talk to. Putting coverage with local insurance agents is important particularly in Plano.

Insurance agency in PlanoOnce you complete this simple form, your insurance data is transmitted to local insurance agents in Plano that can provide free Plano car insurance quotes for your insurance coverage. You won't even need to even leave your home due to the fact that quote results will go instantly to you. If you wish to quote rates from one company in particular, just navigate to their website and give them your coverage information.

Plano auto insurance agents are either independent or exclusive

If you want to buy insurance from a local Plano insurance agent, you must know there are a couple types of agencies and how they can service your needs differently. Plano agents can either be exclusive agents or independent agents. Either type can properly insure your vehicles, but it's worth learning why they differ because it may have an impact on the selection process.

Independent Agents (or Brokers)

Agents of this type are not restricted to one company and that enables them to quote your coverage with an assortment of companies and get you the best rates possible. If you want to switch companies, your policy is moved internally which makes it simple for you. If you need lower rates, we recommend you get several quotes from several independent insurance agents in order to have the best price comparison. Most independent agents also contract with small mutual carriers who may have lower rates.

Below are independent insurance agents in Plano that can possibly get you rate quotes.

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Exclusive Agents

Agents of this type have only one company to place business with like Farmers Insurance, American Family, State Farm and Allstate. Exclusive agents cannot compare rates from other companies so they really need to provide good service. Exclusive insurance agents receive a lot of sales training on what they offer and that enables them to sell even at higher rates. Some insured continue to use the same exclusive agent mainly due to the brand and solid financial strength.

Below is a list of exclusive insurance agencies in Plano that are able to give rate quotes.

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Choosing the best auto insurance agent requires more thought than just the premium amount. The answers to these questions are important, too.

  • If your car is totaled, how to they determine the replacement cost?
  • If you raise deductibles, how much can you save?
  • How are claims handled?
  • Is working in the agency their full-time job?
  • Which company do they place the most coverage with?
  • Are you getting all the discounts the company offers?
  • Is assistance available after office hours?
  • Did they already check your driving record and credit reports?

After getting good answers and an acceptable price quote, most likely you have located an insurance agency that is professional and can provide insurance coverage. Just remember it's your coverage and you can cancel your policy whenever you choose to so don't feel you are locked into any specific agency for the full policy term.

How much car insurance do I need?

Keep in mind that when it comes to choosing adequate coverage, there really isn't a perfect coverage plan. Your needs are not the same as everyone else's and a cookie cutter policy won't apply.Safe vehicles cost less to insure These are some specific questions may help highlight if you would benefit from professional advice.

  • Is there coverage for my trailer?
  • When would I need rental car insurance?
  • Is motorclub coverage worth it?
  • Am I covered if my car is in a flood?
  • Is my son or daughter covered when driving my car?
  • When would I need additional glass coverage?
  • Can I make deliveries for my home business?
  • Do I have any recourse if my insurance company denies a claim?
  • Can I insure my car for more than it's worth?
  • Are there companies who specialize in insuring high-risk drivers?

If you're not sure about those questions but a few of them apply, you may need to chat with a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and can provide invaluable advice.

Insurance Premium Influencing Factors

Many factors are considered when premium rates are determined. Some factors are common sense like an MVR report, although others are less obvious such as whether you are married or your commute time.

The items below are some of the things companies use to determine prices.

Uninterrupted coverage lowers prices - Not having insurance can get you a ticket and insurance companies will penalize you for letting your coverage cancel without a new policy in place. And not only will your rates increase, the inability to provide proof of insurance will get you fines and jail time.

Mature drivers pay less - Young drivers in Texas tend to be more careless in a vehicle and because of this, their insurance rates are much higher. Adding a youthful driver onto a policy will cause a huge premium hike. Mature drivers are shown to be more cautious, are lower risk to insure, and tend to be get fewer driving tickets.

The next chart assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Influences performance influences auto insurance costs - The type of car or truck you are trying to find cheaper insurance for makes a substantial difference in your rates. The lowest rates tend to be for small economy passenger vehicles, but other factors influence the final cost greatly.

The data below assumes a married female driver age 40, full coverage with $250 deductibles, and no discounts or violations. It illustrates Lexus IS 350 policy rates compared to other makes and models that have different performance risks.

An active claims history can increase rates - Companies in Texas provide the lowest premiums to policyholders who are not frequent claim filers. If you tend to file frequent claims, you can pretty much guarantee higher premiums or even policy non-renewal. Insurance coverage is meant to be used in the event of major claims that would cause financial hardship.

Job reflects on premiums - Did you know your career choice can influence rates? Jobs like military generals, social workers, and accountants are shown to have higher average rates due to intense work situations and extremely grueling work hours. On the flip side, jobs like farmers, historians and performers receive lower rates.

How much liability coverage do you need? - Your insurance policy's liability coverage will protect you if you are found to be at fault for physical damage or personal injury to other. It will provide for a legal defense which can cost a lot. Liability is cheap when compared to the cost of physical damage coverage, so do not cut corners here.

Prevent theft and save money - Purchasing a vehicle with an alarm system can get you a discount on your insurance. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all hinder car theft and help bring rates down.

Loss probability for a Lexus IS 350 - Companies include the past claim trends for vehicles as a tool for profitable underwriting. Vehicles that historically have higher losses will be charged more to insure. The information below illustrates the actual insurance loss data for Lexus IS 350 vehicles.

For each coverage category, the claim probability for all vehicles, as an average, is considered to be 100. Values that are under 100 suggest losses that are better than average, while values that are above 100 indicate higher probability of having a loss or statistically larger claims.

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

Car insurance is not optional but you don't have to overpay

Despite the fact that car insurance is not cheap in Plano, car insurance is required in Texas but also provides important benefits.

  • Almost all states have minimum mandated liability insurance limits which means you are required to buy a specific level of liability protection in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your IS 350 has a loan, most lenders will make it mandatory that you have comprehensive coverage to guarantee their interest in the vehicle. If you let the policy lapse, the bank will be required to insure your Lexus at a much higher rate and make you pay much more than you were paying before.
  • Car insurance preserves not only your Lexus IS 350 but also your assets. It will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit in the event you are sued. If your Lexus gets damaged, comprehensive and/or collision insurance will pay to repair the damage.

The benefits of having car insurance are definitely more than the cost, especially with large liability claims. Despite what companies tell you, the average driver overpays more than $800 each year so shop around at every renewal to be sure current rates are still competitive.

Auto insurance company ratings

Finding the best auto insurance company can be rather challenging considering how many companies there are to choose from in Texas. The ranking information in the next section may help you choose which car insurance providers to look at purchasing coverage from.

Top 10 Plano Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Top 10 Plano Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

In the end, you can save money

We've covered a lot of information how to lower your Lexus IS 350 insurance prices in Plano. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. You may even find the lowest prices are with a small mutual company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like Allstate, GEICO and Progressive.

Discount Lexus IS 350 insurance in Plano is definitely available from both online companies and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates. Some insurance providers don't offer online price quotes and many times these small, regional companies provide coverage only through independent agents.

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