Want to learn how to save money and find low-cost Lexus IS 350 insurance in Lincoln? Nobody I know looks forward to paying for auto insurance, especially when they are aware that they are paying too much.
Smart shoppers know that car insurance companies want to prevent you from shopping around. People who rate shop once a year will most likely switch auto insurance companies because there are good odds of finding better rates. A study showed that people who shopped around saved $70 a month as compared to drivers who never shopped for cheaper rates.
If finding the best price on auto insurance in Lincoln is your goal, then learning a little about how to shop for insurance can help you succeed in finding affordable rates.
Multiple insurers compete for your hard-earned dollar, so it can be very hard to choose a company and get the best coverage at the cheapest price on Lexus IS 350 insurance in Lincoln.
If you’re already insured, you will definitely be able to reduce premiums using these tips. Finding the cheapest car insurance coverage in Lincoln is actually quite simple. But Nebraska consumers do need to understand the way companies calculate your policy premium and use it to find better rates.
Smart Buyers Save Money
Many things are part of the calculation when pricing auto insurance. A few of the factors are predictable like a motor vehicle report, but others are more obscure like your vehicle usage or your financial responsibility.
- Frequent claims increase premiums – If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Companies in Nebraska award cheaper rates to insureds who do not rely on their insurance for small claims. Your insurance policy is designed for the large, substantial claims.
- Low credit rating equals high costs – A driver’s credit history can be an important factor in determining your rates. People that have good credit tend to be better risks to insure as compared to drivers with lower credit ratings. So if your credit is not that good, you could potentially save money when insuring your Lexus IS 350 by improving your credit score.
- Lower physical damage deductibles cost more – Your deductibles are the amount of money you are willing to pay out-of-pocket in the event of a claim. Physical damage coverage, also called comprehensive and collision insurance, protects your car from damage. A few examples of covered claims would be collision with another vehicle, damage from fire, and damage caused by road hazards. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance.
Fast cars cost more to insure – The type of car or truck you are insuring makes a big difference in your auto insurance rates. The cheapest rates tend to be for the lowest performance passenger cars, but other factors influence the final cost greatly.
The following chart uses these variables: married female driver age 40, full coverage with $100 deductibles, and no discounts or violations. The data compares Lexus IS 350 rates compared to other models of vehicles that have a range of performance risks.
Insurance losses for a Lexus IS 350 – Companies take into consideration insurance loss statistics for every vehicle to help calculate premium prices. Vehicles that historically have higher claim frequency or loss amount will have a higher premium rate.
The data below shows the loss history for Lexus IS 350 vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as a total average, is a value of 100. Values that are 100 or less suggest losses that are better than average, while values that are 100 or greater indicate higher probability of having a loss or statistically larger claims.
Auto Insurance Loss Data for Lexus IS 350 Models Vehicle 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 98BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
It’s important to know that getting more free quotes will increase your chances of finding the best rates. Not every company provides online price quotes, so it’s recommended that you also compare quotes from them, too.
The providers in the list below can provide comparison quotes in Nebraska. To buy cheap auto insurance in Lincoln, we recommend you get price quotes from several of them to get the most competitive price.
Rates and data analysis
The coverage table below outlines estimates of prices for Lexus IS 350 models. Being more informed about how insurance prices are formulated can aid in making decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 350 4-Dr Sedan||$174||$326||$306||$18||$92||$916||$76|
|IS 350 C 2-Dr Convertible||$174||$326||$306||$18||$92||$916||$76|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Table data does not factor in specific location information which can impact price quotes greatly.
Cost of full coverage
The diagram below illustrates the comparison of Lexus IS 350 car insurance costs with full coverage and liability only. The prices are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no policy discounts are applied.
Should you pay for full coverage?
There is no definitive formula for eliminating physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Lexus IS 350 book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after you pay the deductible. If it’s costing in excess of $200 annually for full coverage, then it could be time to drop full coverage.
There are some scenarios where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
Why car insurance is not optional
Despite the fact that car insurance is not cheap in Lincoln, insurance is a good idea for several reasons.
- The majority of states have minimum liability requirements which means you are required to buy specific limits of liability if you don’t want to risk a ticket. In Nebraska 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 you bought your Lexus IS 350 with a loan, it’s most likely the lender will make it mandatory that you have full coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank will be required to insure your Lexus at a significantly higher premium and make you pay much more than you were paying before.
- Insurance protects both your assets and your Lexus IS 350. It will also cover medical bills for yourself as well as anyone injured by you. 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, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are without a doubt worth the cost, particularly when you have a large claim. Unknowingly, the average driver is currently overpaying as much as $800 each year so it’s important to compare rates at every policy renewal to ensure rates are competitive.
Lincoln auto insurance discounts
Auto insurance companies don’t list all possible discounts in an easy-to-find place, so the list below details a few of the more common and the more hidden credits available to bring down your rates. If you do not check that you are getting every discount you deserve, you could be getting lower rates.
- Senior Citizens – Drivers that qualify as senior citizens may receive reduced rates.
- Pay Now and Pay Less – By paying your policy upfront instead of paying each month you could save up to 5%.
- Good Grades Discount – Getting good grades may save as much as 25% on a Lincoln auto insurance quote. Many companies even apply the discount to college students up to age 25.
- Low Mileage – Low annual miles may enable drivers to earn substantially lower premium rates.
- College Student Discount – Children who are attending college and do not take a car to college can receive lower rates.
- Anti-lock Brake Discount – Cars that have anti-lock braking systems can avoid accidents and will save you 10% or more on IS 350 insurance in Lincoln.
- Membership in Organizations – Being a member of a civic or occupational organization in Lincoln could earn you a nice discount on your bill.
- Multiple Cars – Insuring all your vehicles on one policy could earn a price break for each car.
Drivers should understand that many deductions do not apply to all coverage premiums. Most cut the cost of specific coverages such as medical payments or collision. Despite the appearance that you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. Any amount of discount should help lower your policy premiums.
The illustration below shows the difference between Lexus IS 350 insurance rates with and without policy discounts. The price estimates are based on a male driver, no driving violations, no at-fault accidents, Nebraska 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 multi-car, marriage, claim-free, multi-policy, homeowner, and safe-driver discounts applied.
Larger auto insurance companies and some of their more popular discounts can be found below.
- Travelers may have discounts that include save driver, multi-car, early quote, student away at school, and continuous insurance.
- 21st Century may include discounts for defensive driver, early bird, good student, homeowners, and automatic seat belts.
- State Farm offers discounts including multiple autos, accident-free, Steer Clear safe driver discount, multiple policy, and defensive driving training.
- GEICO may offer discounts for anti-lock brakes, multi-vehicle, five-year accident-free, daytime running lights, military active duty, emergency military deployment, and seat belt use.
- SAFECO offers premium reductions for drive less, anti-lock brakes, teen safe driver, homeowner, and anti-theft.
- AAA policyholders can earn discounts including education and occupation, AAA membership discount, anti-theft, good driver, good student, and multi-car.
If you need inexpensive Lincoln auto insurance quotes, ask each company or agent to give you their best rates. Some discounts might not apply everywhere.
Insurance agencies can help
Some people still prefer to talk to a local agent and that is not a bad decision A nice benefit of comparing rates online is you can get cheap rate quotes and still choose a local agent.
To make it easy to find an agent, after completing this simple form, your insurance coverage information gets sent to agents in your area who will give you quotes to get your business. It’s much easier because you don’t need to find an agent since price quotes are sent straight to your inbox. You can find lower rates without the usual hassles of price shopping. In the event you want to get a rate quote from a specific insurance company, you just need to jump over to their website and fill out the quote form the provide.
Choosing an provider requires you to look at more than just a cheap price. Here are some questions to ask:
- Did they already check your driving record and credit reports?
- Is the coverage adequate for your vehicle?
- If your car is in the repair shop, do you have coverage for a rental car?
- If independent agents, which companies do they recommend?
- If your car is totaled, how to they determine the replacement cost?
- Where would glass claims be handled in Lincoln?
- Will one accident increase rates?
If you are wanting to purchase auto insurance from a local Lincoln insurance agency, you must know there are a couple different agency structures from which to choose. Agents in Lincoln are categorized either independent or exclusive depending on the company they work for.
Exclusive agencies can only provide one company’s prices like AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents cannot compare rates from other companies so they have to upsell other benefits. Exclusive agents are highly trained on sales techniques and that enables them to sell even at higher rates.
Shown below is a list of exclusive agents in Lincoln who can help you get rate quotes.
Independent Auto Insurance Agencies
Independent agencies are not employed by one company so as a result can place your coverage with multiple insurance companies and find the cheapest rate. If they find a cheaper price, they simply move your policy to a different company and that require little work on your part. If you are comparing auto insurance prices, you will definitely want to check rates from several independent insurance agents for maximum quote selection.
The following are independent agents in Lincoln who can help you get price quote information.
Midwest Insurance Group
4333 S 48th St – Lincoln, NE 68516 – (402) 489-9595 – View Map
Buethe and Associates Insurance Agency
2337 S 13th St – Lincoln, NE 68542 – (402) 474-2063 – View Map
Which policy gives me the best coverage?
When buying a policy, there really isn’t a one size fits all plan. You are unique and your insurance should unique, too.
These are some specific questions can help discover whether your personal situation would benefit from an agent’s advice.
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Do I have newly-acquired coverage?
- Why am I be forced to buy a membership to get insurance from some companies?
- Is my camper covered for physical damage?
- Am I getting all the discounts available?
- What is the ISO rating for a Lexus IS 350?
- What is the premium to book value ratio for dropping full coverage?
- What happens if I owe more than my Lexus IS 350 is worth?
If it’s difficult to answer those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies.
Compare rates regularly to save
When trying to cut insurance costs, make sure you don’t buy lower coverage limits just to save a few bucks. In many cases, drivers have reduced comprehensive coverage or liability limits and discovered at claim time that it was a big mistake. Your aim should be to purchase a proper amount of coverage at an affordable rate, but do not skimp to save money.
Budget-friendly auto insurance in Lincoln can be sourced on the web as well as from independent agents in Lincoln, so you need to quote Lincoln auto insurance with both to have the best chance of lowering rates. Some insurance providers may not offer internet price quotes and most of the time these regional carriers work with independent agents.
You just learned many tips how you can get a better price on Lexus IS 350 insurance in Lincoln. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may even be surprised to find that the biggest savings come from a lesser-known regional company. These companies can often insure niche markets at a lower cost compared to the large companies like State Farm or Progressive.
How to find low-cost Lexus IS 350 insurance in Lincoln
The recommended way to get cheaper Lexus IS 350 insurance in Lincoln is to begin comparing prices regularly from insurers who provide auto insurance in Nebraska.
- Gain an understanding of what is in your policy and the measures you can take to prevent expensive coverage. Many rating factors that drive up the price like traffic citations and your credit history can be improved by making lifestyle changes or driving safer.
- Compare rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from multiple insurance companies.
- Compare the quotes to your current policy to see if you can save by switching companies. If you can save some money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Give proper notification to your current agent or company to cancel the current policy. Submit the completed application along with a down payment for your new coverage. Once the paperwork is finalized, keep the new proof of insurance paperwork along with your vehicle registration.
The key aspect of shopping around is that you use identical coverages on each price quote and and to get quotes from every company you can. Doing this helps ensure the most accurate price comparison and a complete price analysis.
Additional detailed information can be read in these articles:
- Teen Driving Statistics (iihs.org)
- Who Has Cheap Auto Insurance for Safe Drivers in Lincoln? (FAQ)
- How Much is Auto Insurance for a Subaru Impreza in Lincoln? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Police Officers in Lincoln? (FAQ)
- Who Has Cheap Car Insurance Rates for College Graduates in Lincoln? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Nissan Rogue in Lincoln? (FAQ)
- Parking Tips to Reduce Door Dings (State Farm)
- Five Mistakes to Avoid (Insurance Information Institute)
- Event Data Recorders FAQ (iihs.org)