Shopping for lower priced Baltimore Lexus IS 350 insurance quotes on the web may seem to be difficult for consumers who are beginners to quoting and comparing prices on the web. Because there are so many online companies available, how are consumers expected to have time to compare every possible option in order to find the best available rates?
Inconceivable but true, almost 70% of drivers in Maryland have stayed with the same insurance company for over three years, and just under half have never compared rates with other companies. U.S. drivers could save roughly $850 a year, but they feel it’s too difficult to save money by comparing rate quotes.
Find Lower-cost Auto Insurance with These Tips
Part of the auto insurance buying process is learning some of the factors that help determine your policy premiums. When you understand what determines base rates, this allows you to make educated decisions that could help you find cheaper rates. Lots of factors are part of the equation when you get a price on insurance. Some are pretty understandable such as traffic violations, but other factors are less obvious such as your marital status and annual miles driven.
Do you have a stressful occupation? – Occupations like real estate brokers, social workers, and medical professionals tend to pay higher premium rates due to intense work requirements and extremely grueling work hours. On the other hand, careers such as scientists, engineers and the unemployed have the lowest average rates.
Drive a safer car and pay less – Vehicles with good safety scores can get you lower premiums. Highly rated vehicles help reduce the chance of injuries in an accident and lower injury rates means less money paid by your insurance company which can result in lower premiums.
Do males or females drive better? – Over the last 50 years, statistics have shown that men are more aggressive behind the wheel. However, this does not mean men are WORSE drivers than women. Females and males cause auto accidents in similar numbers, but the men tend to have higher claims. Men also tend to receive more costly citations such as driving while intoxicated (DWI) or driving recklessly.
The example below illustrates the comparison of Lexus IS 350 insurance costs for male and female drivers. The premiums assume no driving violations, no at-fault accidents, full physical damage coverage, $1,000 deductibles, drivers are single, and no discounts are factored in.
Better auto insurance rates for continuous auto insurance coverage – Having a lapse in insurance coverage will be a fast way to bump up your auto insurance costs. Not only will rates go up, failure to provide proof of insurance may earn you a hefty fine and possibly a revoked license.
Extra coverages you don’t need – There are a ton of additional extra coverages that can add up if you aren’t diligent. Insurance for rental car coverage, high-cost glass coverage, and motor club memberships may be wasting your money. You may think they are a good idea initially, but now you might not need them so eliminate them to save money.
The higher your credit rating the lower your costs – A driver’s credit rating is likely to be a major factor in determining what you pay for auto insurance. So if your credit rating can use some improvement, you could pay less to insure your Lexus IS 350 by spending a little time repairing your credit. Consumers who have excellent credit tend to be better drivers and file fewer claims than those with lower credit ratings.
Teenagers vs. experienced drivers – Mature drivers tend to be more responsible, cost insurance companies less in claims, and are safer drivers. Drivers with little experience are statistically shown to be inattentive and easily distracted in a vehicle and because of this, their auto insurance rates are much higher.
The data below assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
Marriage is a factor – Having a significant other may save some money compared to being single. It usually means you are more mature and responsible and statistics show drivers who are married are more cautious.
Loss statistics for a Lexus IS 350 – Insurers study historical loss data when setting rates for each model. Models that the data determines to have a higher amount or frequency of claims will be charged more to insure.
The next table shows the actual insurance loss data for Lexus IS 350 vehicles. For each coverage category, the claim probability for all vehicles, without regard to make or model, is set at 100. Values under 100 represent a good loss history, while values over 100 indicate a higher chance of having a claim or a tendency for claims to be larger.
|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|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lexus IS 350 coverage statistics
The price information displayed next covers estimates of insurance rates for Lexus IS 350 models. Learning a little about how rate quotes are formulated can help guide drivers when making informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 350 4-Dr Sedan||$312||$566||$414||$24||$124||$1,440||$120|
|IS 350 C 2-Dr Convertible||$312||$566||$414||$24||$124||$1,440||$120|
|Get Your Own Custom Quote Go|
Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Table data does not factor in the specific area where the vehicle is garaged which can decrease or increase prices significantly.
Car insurance policy discounts you can’t miss
Some companies don’t always list all possible discounts very well, so below is a list a few of the more common and the harder-to-find ways to save on car insurance.
- Discounts for Multiple Vehicles – Buying insurance for all your vehicles with the same car insurance company can reduce rates for all insured vehicles.
- Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class in school.
- Good Students Pay Less – Maintaining excellent grades may save as much as 25% on a Baltimore car insurance quote. You can use this discount normally up until you turn 25.
- Discount for Swiching Early – Some larger companies give discounts for buying a policy before your current IS 350 insurance policy expires. Ten percent is about the average savings.
- Defensive Driver – Taking time to complete a course in safe driver is a good idea and can lower rates if you qualify.
- Pay Now and Pay Less – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
- No Accidents – Insureds who avoid accidents and claims can earn big discounts compared to drivers with a long claim history.
It’s important to note that most of the big mark downs will not be given to all coverage premiums. Some only reduce specific coverage prices like liability, collision or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, you aren’t that lucky.
The example below illustrates the comparison of Lexus IS 350 insurance costs with and without some available policy discounts. The data assumes a male driver, no accidents or driving violations, Maryland state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-policy, multi-car, claim-free, and safe-driver discounts applied.
The best car insurance companies and a summarized list of policyholder discounts can be found below.
- Progressive policyholders can earn discounts including multi-policy, continuous coverage, homeowner, multi-vehicle, good student, online signing, and online quote discount.
- MetLife discounts include multi-policy, good driver, good student, claim-free, defensive driver, accident-free
- Mercury Insurance offers discounts for ease of repair, multi-policy, accident-free, annual mileage, age of vehicle, low natural disaster claims, and type of vehicle.
- Nationwide offers premium reductions for Farm Bureau membership, accident-free, family plan, multi-policy, defensive driving, business or organization, and easy pay.
- GEICO has discounts for air bags, anti-lock brakes, multi-vehicle, defensive driver, driver training, multi-policy, and five-year accident-free.
- AAA may have discounts that include education and occupation, pay-in-full, multi-policy, good driver, good student, multi-car, and anti-theft.
It’s a good idea to ask every company to apply every possible discount. Some discounts may not apply to policyholders in your area. For a list of insurance companies who offer online Lexus IS 350 insurance quotes in Baltimore, click here.
One last thing about your coverage
Cheaper auto insurance in Baltimore can be found online as well as from insurance agents, and you should compare price quotes from both to have the best selection. Some auto insurance companies may not provide rates over the internet and these small, regional companies provide coverage only through independent insurance agents.
Drivers who switch companies do it for a variety of reasons including policy cancellation, lack of trust in their agent, high rates after DUI convictions or an unsatisfactory settlement offer. Regardless of your reason, choosing a new insurance company can be easier than you think.
When trying to cut insurance costs, never buy lower coverage limits just to save a few bucks. There are too many instances where consumers will sacrifice uninsured motorist or liability limits only to regret at claim time they didn’t purchase enough coverage. Your goal should be to buy the best coverage you can find for the lowest cost while still protecting your assets.
How to find cheaper rates for Lexus IS 350 insurance in Baltimore
The best way we recommend to find low-cost prices for auto insurance rates is to regularly compare quotes from insurance carriers in Baltimore.
- Get an understanding of how companies price auto insurance and the things you can control to keep rates low. Many things that increase rates like distracted driving and a low credit rating can be rectified by making small lifestyle or driving habit changes.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple companies.
- Compare the new rate quotes to the price on your current policy and see if there is a cheaper rate in Baltimore. If you find a lower rate quote and switch companies, make sure coverage does not lapse between policies.
- Provide notification to your current agent or company of your intention to cancel your current auto insurance policy. Submit a signed application and payment to the new insurer. Don’t forget to safely store the certificate of insurance in an easily accessible location.
A good tip to remember is that you’ll want to compare the same coverage limits and deductibles on each price quote and and to get price quotes from as many auto insurance providers as possible. This helps ensure an apples-to-apples comparison and a thorough price selection.
For more information, feel free to browse the resources below:
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance Rates for Government Employees in Baltimore? (FAQ)
- What Insurance is Cheapest for a Learners Permit in Baltimore? (FAQ)
- Who Has Cheap Car Insurance Rates for a Hyundai Elantra in Baltimore? (FAQ)
- How Much is Auto Insurance for College Graduates in Baltimore? (FAQ)
- Who Has Cheap Auto Insurance for a Kia Optima in Baltimore? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Auto Insurance Facts and Statistics (Insurance Information Institute)