9 Guaranteed Tips to Lower Lexus RX 300 Rates

Trying to find low-cost insurance for a Lexus RX 300 could be a painful process, but you can use a few tricks to save time. There is a better way to compare car insurance rates and you need to know the proper way to compare rates for a new or used Lexus and obtain the cheapest rates from local insurance agents and online providers.

Consumers should take time to do rate comparisons periodically because insurance rates trend upward over time. Even if you got the best price for RX 300 insurance six months ago the chances are good that you can find a lower rate today. There is a lot of bad information regarding car insurance on the web, but we’re going to give you a lot of great tips on how to quit paying high car insurance rates.

How much can you save with these nine discounts?

Car insurance companies do not list all available discounts in a way that’s easy to find, so we researched both the well known and also the lesser-known discounts you could be receiving. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.

  • Early Switch Discount – A few companies offer discounts for signing up before your current policy expires. It’s a savings of about 10%.
  • Discount for New Cars – Buying coverage on a new vehicle is cheaper because new vehicles have to meet stringent safety requirements.
  • No Claims – Drivers with accident-free driving histories pay much less when compared with accident-prone drivers.
  • Good Student Discount – Performing well in school can be rewarded with saving of up to 25%. The discount lasts until age 25.
  • Seat Belts Save – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more off your PIP or medical payments premium.
  • Payment Discounts – If you pay your entire premium ahead of time instead of making monthly payments you may reduce your total bill.
  • Employee of Federal Government – Being employed by or retired from a federal job can earn a discount up to 10% for RX 300 insurance with a few car insurance companies.
  • Multiple Vehicles – Having multiple vehicles with the same company may reduce the rate for each vehicle.
  • Save over 55 – Older drivers may receive reduced rates for RX 300 insurance.

It’s important to note that some of the credits will not apply the the whole policy. Most only cut the price of certain insurance coverages like comp or med pay. So even though it sounds like all those discounts means the company will pay you, it doesn’t quite work that way.

To choose insurers offering car insurance discounts, click here.

Comparing rates from local agents

Some consumers just want to get advice from a local agent and there is nothing wrong with that. Licensed agents are trained to spot inefficiencies and help in the event of a claim. The best thing about getting online price quotes is that you can obtain the best rates but still work with a licensed agent.

For easy comparison, once you complete this form (opens in new window), the quote information is submitted to companies who will compete for your insurance coverage. You won’t need to leave your house due to the fact that quote results will go to your email.

Selecting an insurance company shouldn’t rely on just the premium amount. Any agent should have no problem answering these questions:

  • Do they carry Errors and Omissions coverage?
  • Can they provide you with a list of referrals?
  • Is the agent and/or agency licensed to do business in your state?
  • Do they review policy coverages at every renewal?
  • Will vehicle repairs be made with aftermarket parts or OEM replacement parts?

Types of insurance agents

When looking for local agents, you must know there are a couple types of insurance agents that you can select. Agencies are categorized either captive or independent. Both types can do a good job, but it’s worth mentioning how they are different since it can impact your agent selection.

Captive Agents

This type of agents write business for a single company like Farmers Insurance or State Farm. Captives cannot compare other company’s rates so they have no alternatives for high prices. Captive agents receive extensive training on the products they sell and that can be a competitive advantage. Some consumers prefer to purchase coverage from captives partially due to the prominence of the brand and the convenience of having a single billing for all their coverages.

Independent Agencies or Brokers

Independent agents are not required to write business for one company but rather can write business with multiple insurance companies and potentially find a lower price. If you are not satisfied with one company, the business is moved internally without you having to go to a different agency. When comparing rates, it’s a good idea to include price quotes from at least one independent agent to ensure the widest selection of prices. Many write coverage with lesser-known insurance companies which can be an advantage.

For a complete listing of insurance agencies, click here.

Upon receiving acceptable answers in addition to an acceptable price estimate, you’ve probably found an insurance agent that is a good match to properly service your car insurance policy. Just keep in mind consumers can terminate coverage any time you want so don’t think that you’re stuck with the car insurance policy for any length of time.

Is there truth in advertising?

Drivers can’t get away from ads for cheaper car insurance from the likes of State Farm and Allstate. All the companies have a common claim that you can save if you switch your coverage to them.

But how can every company say the same thing? This is how they do it.

All the different companies can use profiling for the right customer they prefer to insure. A good example of a desirable insured could be over the age of 40, has no driving citations, and chooses high deductibles. A driver who fits that profile is entitled to the best price and is almost guaranteed to pay quite a bit less when switching companies.

Potential insureds who fall outside the “perfect” profile will have to pay a higher premium which usually ends up with business not being written. The ads state “customers who switch” not “everyone that quotes” save that much money. That’s why companies can make the claims of big savings. Because of the profiling, you need to quote coverage with many companies. Because you never know which car insurance company will have the lowest rates.

It’s not one size fits all

When it comes to buying proper insurance coverage, there really is not a cookie cutter policy. Everyone’s situation is unique.

Here are some questions about coverages that can help discover if your insurance needs might need an agent’s assistance.

  • What are the financial responsibility laws in my state?
  • Am I covered if I wreck a rental car?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Am I covered if I drive in a foreign country?
  • Does my Lexus RX 300 need full coverage?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Which companies will insure high-risk drivers?

If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and may give you better protection.

Car insurance policy coverages for a Lexus RX 300

Understanding the coverages of a car insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses for things like chiropractic care, nursing services, rehabilitation expenses and ambulance fees. They are utilized in addition to your health insurance program or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from 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 can pay for claims like hail damage, damage from flooding and damage from getting keyed. The maximum amount your car insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability car insurance

This coverage will cover damages or injuries you inflict on a person or their property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 100/300/100 that translate to $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability coverage protects against things such as loss of income, attorney fees and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as much as you can afford.

UM/UIM Coverage

RX 300 insurance rates

This gives you protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision protection

This pays for damage to your RX 300 from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like crashing into a ditch, driving through your garage door, hitting a mailbox and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Another option is to increase the deductible to save money on collision insurance.

Better coverage you can count on

Drivers who switch companies do it for a variety of reasons including delays in responding to claim requests, extreme rates for teen drivers, policy non-renewal or denial of a claim. Regardless of your reason for switching companies, choosing a new insurance company can be pretty painless.

You just learned many tips how you can get a better price on Lexus RX 300 insurance. The key thing to remember is the more rate comparisons you have, the higher your chance of finding lower rates. You may even discover the lowest premiums are with a small mutual company.

While you’re price shopping online, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many cases where an insured dropped comprehensive coverage or liability limits only to regret that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy a smart amount of coverage at an affordable rate.