Save Money on Lexus IS 350 Insurance in Louisville

Statistics show that the vast majority of consumers renewed their policy with the same company for over three years, and almost half have never even shopped around for cheaper coverage. Consumers in Kentucky can save hundreds of dollars each year by just shopping around, but they don’t believe the rate savings if they moved their coverage to a different company.

The recommended way to save money on car insurance rates is to compare quotes once a year from companies in Louisville. Rate comparisons can be done by completing these steps.

Step 1: Spend some time learning about how auto insurance works and the changes you can make to keep rates low. Many rating criteria that cause high rates such as distracted driving and a not-so-good credit history can be amended by paying attention to minor details.

Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from a single company like GEICO and State Farm, while independent agents can provide price quotes for many different companies.

Step 3: Compare the new rate quotes to your existing rates to determine if you can save on IS 350 insurance. If you find a lower rate and decide to switch, ensure there is no coverage lapse between policies.

Step 4: Give proper notification to your current agent or company of your decision to cancel the current policy and submit payment and a completed application for your new policy. When you receive it, safely store the certificate of insurance in your vehicle’s glove compartment or console.

The most important part of this process is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every quote request and and to get price quotes from as many auto insurance providers as possible. This provides an apples-to-apples comparison and the best price selection.

Finding the cheapest car insurance coverage in Louisville is really quite simple as long as you have a good starting point. If you already have coverage, you will be able to shop for the lowest rates using these techniques. Consumers just have to use the most time-saving way to buy car insurance over the internet.

Most major insurance companies like Allstate and Progressive allow consumers to get coverage prices from their websites. Getting online rates for Lexus IS 350 insurance in Louisville doesn’t take much effort as all you need to do is type in the coverages you want into the form. After you complete the form, their system sends out for reports for credit and driving violations and returns a price quote based on many factors. Getting online price quotes for Lexus IS 350 insurance in Louisville makes it easy to compare insurance prices and it’s absolutely necessary to get many rate quotes in order to get a better rate.

To get comparison pricing now, compare rates now from the companies shown below. If you currently have coverage, we recommend you duplicate the limits and deductibles identical to your current policy. This makes sure you will get a rate comparison based on identical coverages.

The following companies provide quotes in Kentucky. To buy cheap auto insurance in Louisville, we suggest you compare several of them in order to find the lowest rates.

Discounts can help save money on Lexus IS 350 insurance in Louisville

Some companies don’t always advertise all possible discounts in an easy-to-find place, so we researched some of the best known and the more hidden credits available to you.

• Multi-car Discount – Buying insurance for all your vehicles on a single policy can reduce the rates for all insured vehicles.
• ABS Braking Discount – Cars, trucks, and SUVs that have anti-lock braking systems can reduce accidents and qualify for as much as a 10% discount.
• Distant College Student Discount – Youth drivers who are attending college without a vehicle on campus could get you a discount.
• Federal Employees – Federal government employees may reduce rates when you quote Louisville car insurance with select insurance companies.
• Mature Driver Discount – Seniors may be able to get reduced rates.
• Smart Student Discounts – Being a good student can earn a discount of 20% or more. You can use this discount normally up until you turn 25.
• Military Rewards – Being deployed with a military unit could be rewarded with lower prices.

While discounts sound great, it’s important to understand that many deductions do not apply to all coverage premiums. Some only reduce specific coverage prices like comprehensive or collision. Even though it may seem like all those discounts means the company will pay you, you aren’t that lucky. But all discounts will lower your policy premiums.

The diagram below shows the difference between Lexus IS 350 annual premium costs with and without discounts applied. The prices are based on a male driver, no violations or accidents, Kentucky state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, homeowner, claim-free, multi-car, and multi-policy discounts applied.

Some companies that may offer policyholders these money-saving discounts include:

• GEICO
• Mercury Insurance
• Farmers Insurance
• Auto-Owners Insurance
• Liberty Mutual
• SAFECO
• Progressive
• USAA

Check with every company which credits you are entitled to. Some discounts may not be available in Louisville. If you would like to see a list of insurance companies that offer multiple discounts in Kentucky, click here.

Coverage information

The information shown below covers different prices for Lexus IS 350 models. Having a better idea how insurance policy premiums are calculated can benefit drivers when making informed decisions.

Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Price estimates do not factor in vehicle location which can modify auto insurance rates substantially.

Should you buy full coverage?

The illustration below shows the comparison of Lexus IS 350 yearly insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no claims or driving violations, $100 deductibles, drivers are not married, and no policy discounts are applied.

Guidelines for dropping full coverage

There isn’t a written rule to stop paying for comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.

For example, let’s say your Lexus IS 350 book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $4,000 after you pay the deductible. If it’s costing you more than $400 a year for physical damage coverage, then it could be time to drop full coverage.

There are some circumstances where buying only liability insurance is not in your best interest. If you haven’t satisfied your loan, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

Can’t I compare prices from local Louisville car insurance agents?

Certain consumers just want to get advice from a local agent and there is nothing wrong with that. Professional insurance agents are highly skilled in risk management and help you file claims. One of the best bonuses of getting online price quotes is you may find lower rates but also keep your business local.

To find an agent, once you fill out this short form, your coverage information is submitted to local insurance agents in Louisville who will gladly provide quotes for your insurance coverage. There is no need to do any legwork since price quotes are sent to your email. If for some reason you want to compare rates for a specific company, you just need to navigate to their website and submit a quote form there.

Finding a good insurer should depend on more than just a cheap price. Agents should be asked these questions:

• Did they already check your driving record and credit reports?
• Will your rates increase after a single accident?
• Does the agent recommend any additional coverage?
• Who are their largest clients?
• Are they involved in claim handling?

If you want a reliable insurance agency, it’s important to understand the different types of agents to choose from. Agencies in Louisville are classified as either exclusive or independent. Either one can handle car insurance, but it is important to understand the difference in the companies they write for since it can affect your agent selection.

Exclusive Agents

Agents that elect to be exclusive can only provide pricing for a single company like Farmers Insurance and State Farm. Exclusive agents are unable to give you multiple price quotes so you need to shop around if the rates are high. These agents are very knowledgeable on sales techniques which helps offset the inability to provide other markets.

The following are Louisville exclusive agencies who may provide you with price quote information.

More insurance agents

Independent Agencies or Brokers

Agents that elect to be independent are appointed with more than one company and that allows them to write policies with an assortment of companies and find you the best rates. To move your coverage to a new company, the agent simply finds a different carrier and you won’t have to switch agencies. When comparing car insurance prices, you will want to get several quotes from several independent insurance agents in order to compare the most rates.

Listed below are independent insurance agencies in Louisville who can help you get price quote information.

More insurance agents

When should I discuss my situation with an agent?

When quoting and choosing coverage online or from an agent, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs so your insurance needs to address that.
For instance, these questions may help you determine if your situation might need professional guidance.

• Does coverage extend to Mexico or Canada?
• Am I covered when using my vehicle for business?
• Does my insurance cover my expensive audio equipment?
• Do I need an umbrella policy?
• What if I owe more than I can insure my car for?
• Is my teenager covered with friends in the car?
• What is medical payments coverage?
• Can I afford to pay high deductible claims out of pocket?
• Is business property covered if stolen from my car?
• I have good health insurance, so how much medical payments coverage do I need?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area. It’s fast, free and you can get the answers you need.

Car insurance does more than just protect your car

Despite the high insurance cost for a Lexus IS 350 in Louisville, buying car insurance serves an important purpose.

• Just about all states have minimum liability requirements which means you are required to buy specific limits of liability coverage if you don’t want to risk a ticket. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you have a loan on your IS 350, it’s most likely the lender will require you to buy full coverage to guarantee their interest in the vehicle. If you let the policy lapse, the bank may buy a policy for your Lexus at a more expensive rate and require you to pay a much higher amount than you were paying before.
• Car insurance preserves both your assets and your Lexus. It also can pay for all forms of medical expenses incurred in an accident. As part of your policy, liability insurance will also pay to defend you if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of buying car insurance greatly outweigh the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is overpaying over $865 each year so it’s very important to do a rate comparison at every policy renewal to ensure rates are inline.

Auto insurance coverage information

Understanding the coverages of a auto insurance policy aids in choosing which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and even agents have difficulty translating policy wording. Below you’ll find the usual coverages found on the average auto insurance policy.

Collision coverage

Collision coverage covers damage to your IS 350 resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision insurance covers things such as rolling your car, hitting a mailbox and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible on your IS 350 to save money on collision insurance.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for immediate expenses like funeral costs, EMT expenses and ambulance fees. They are used to cover expenses not covered by your health insurance program or if you do not have health coverage. Medical payments and PIP cover you and your occupants and will also cover being hit by a car walking across the street. PIP coverage is not an option in every state and may carry a deductible

Comprehensive coverages

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 claims like damage from a tornado or hurricane, damage from flooding, theft and falling objects. The highest amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured and underinsured coverage

This provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as damage to your Lexus IS 350.

Since many Kentucky drivers only purchase the least amount of liability that is required (25/50/10), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Liability car insurance

This coverage provides protection from injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 25/50/10 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged property.

Liability insurance covers things like medical services, medical expenses, bail bonds, attorney fees and repair bills for other people’s vehicles. How much coverage you buy is a decision to put some thought into, but consider buying as large an amount as possible. Kentucky state minimum liability requirements are 25/50/10 but you should consider buying better liability coverage.

The illustration below demonstrates why buying low liability limits may not be adequate.

Final considerations

You just learned many ways to reduce Lexus IS 350 insurance premium rates online in Louisville. The key thing to remember is the more quotes you get, the higher the chance of saving money. You may even find the best price on auto insurance is with an unexpected company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like Allstate or State Farm.

Cheap Lexus IS 350 insurance in Louisville can be bought from both online companies and with local Louisville insurance agents, so you should compare both to get a complete price analysis. Some insurance providers may not provide online quoting and many times these regional carriers work with local independent agencies.

Additional articles

• Shopping for a Safe Car (Insurance Information Institute)
• What Insurance is Cheapest for Seniors in Louisville? (FAQ)
• Who Has the Cheapest Car Insurance Quotes for a Nissan Sentra in Louisville? (FAQ)
• Who Has the Cheapest Louisville Auto Insurance Rates for a Subaru Forester? (FAQ)
• Who Has Cheap Louisville Car Insurance Rates for a Honda Pilot? (FAQ)
• How to Avoid Buying a Flooded Car (Insurance Information Institute)
• How Can I Save Money on Auto Insurance? (Insurance Information Institute)
• Safety Features for Your New Car (State Farm)