Cheapest Insurance for a Lexus IS 350 in Laredo

Remarkably, a study showed that most consumers kept their coverage with the same car insurance company for at least four years, and just under half have never even compared quotes to find lower-cost rates. With the average premium in Texas being $2,679, drivers can save hundreds of dollars each year, but they underestimate the benefits if they switched to a cheaper policy.

If you want to find the absolute lowest rates, then the best way to get cheaper Lexus IS 350 insurance in Laredo is to compare prices annually from providers in Texas. Rate comparisons can be done by following these steps.

• Step 1: Try to learn about how auto insurance works and the things you can control to prevent expensive coverage. Many rating criteria that increase rates such as high-risk driving behaviors and poor credit rating can be amended by paying attention to minor details.
• Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like GEICO and State Farm, while agents who are independent can provide price quotes for many different companies.
• Step 3: Compare the new rate quotes to your existing policy to see if a cheaper price is available. If you can save some money and change companies, make sure coverage does not lapse between policies.

One piece of advice is that you’ll want to make sure you compare the same deductibles and limits on each price quote and to quote with as many different insurance providers as possible. Doing this helps ensure an accurate price comparison and and a good selection of different prices.

The companies shown below are our best choices to provide free rate quotes in Texas. In order to find the best auto insurance in Laredo, we suggest you visit as many as you can to get a more complete price comparison.

Lexus IS 350 coverage statistics

The coverage information displayed next showcases detailed analysis of insurance prices for Lexus IS 350 models. Knowing how auto insurance premiums are figured can benefit drivers when making informed coverage decisions.

Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Price estimates do not factor in vehicle location which can affect premiums noticeably.

Analysis of deductible levels

One of the most common insurance questions is how high should the deductibles for physical damage be. The figures shown below sum up the differences in premium rates when you buy lower versus higher coverage deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second pricing table uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Estimates do not factor in vehicle location which can decrease or increase insurance rates substantially.

We can derive from the above data that using a $100 deductible will cost in the ballpark of $49 more each month or $588 each year than selecting the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at least 18 months between claim filings, you would probably come out ahead if you choose the higher deductible.

The example below highlights how deductible selection and can change Lexus IS 350 yearly insurance costs for different age categories. Data assumes a married male driver, full physical damage coverage, and no discounts are applied to the premium.

Insurance rate increases from tickets or accidents

The example below highlights how traffic violations and accident claims raise Lexus IS 350 yearly insurance costs for different age groups. The data is based on a married male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.

Lexus IS 350 liability rates compared to full coverage

The information below shows the comparison of Lexus IS 350 insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The information is based on no violations or claims, $500 deductibles, single status, and no additional discounts are factored in.

Should you be buying full coverage?

There isn’t a written rule for dropping physical damage coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Lexus IS 350 claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $3,000 after the policy deductible has been paid. If premiums are more than $300 annually for full coverage, then it may be the right time to buy liability only.

There are some conditions where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.

Get cheaper rates by taking advantage of discounts

Insuring your fleet can be pricey, but you can get discounts that you may not know about. Some discounts apply automatically when you complete an application, but occasionally some discounts must be specifically requested prior to receiving the credit.

• Pay Upfront and Save – By paying your entire bill at once instead of making monthly payments you could save 5% or more.
• Defensive Driving Course – Completing a driver safety course could save 5% or more and easily pay for the cost of the class.
• Early Signing – A few larger companies allow discounts for signing up prior to your current IS 350 insurance policy expiring. You may see this discount when you get Laredo auto insurance quotes online.
• Multiple Cars – Drivers who insure all your vehicles on one policy can reduce the rates for all insured vehicles.
• Safety Restraint Discount – Using a seat belt and requiring all passengers to buckle up before driving can save up to 15% off the medical payments premium.
• Discount for Multiple Policies – If you can bundle your home and auto insurance with one company they may give you a discount of at least 10 to 15 percent or more.
• Discount for Low Mileage – Low mileage vehicles can earn substantially lower prices.
• Claim Free – Good drivers with no accidents pay much less in comparison to policyholders that have many claims.
• Employee of Federal Government – Employees or retirees of the government can save as much as 8% depending on your auto insurance provider.
• Good Student Discount – A discount for being a good student can be rewarded with saving of up to 25%. Most companies allow this discount until age 25.

You can save money using discounts, but most discount credits are not given to your bottom line cost. Most cut individual premiums such as comp or med pay. So when the math indicates adding up those discounts means a free policy, auto insurance companies aren’t that generous.

The illustration below shows the comparison of Lexus IS 350 yearly insurance costs with and without discounts being applied to the rates. Data assumes a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, safe-driver, multi-policy, multi-car, and claim-free discounts applied.

A few of the larger companies and a partial list of their discounts are:

• Progressive has discounts for online signing, online quote discount, continuous coverage, good student, multi-policy, and homeowner.
• AAA offers discounts for education and occupation, multi-policy, good driver, multi-car, anti-theft, AAA membership discount, and good student.
• Farmers Insurance discounts include switch companies, alternative fuel, teen driver, electronic funds transfer, multi-car, distant student, and business and professional.
• GEICO offers premium reductions for air bags, anti-theft, multi-policy, emergency military deployment, and federal employee.
• Esurance offers discounts including paid-in-full, anti-theft, renters, good student, and DriveSense.
• SAFECO policyholders can earn discounts including anti-lock brakes, teen safe driver, homeowner, drive less, and bundle discounts.
• State Farm includes discounts for accident-free, passive restraint, driver’s education, good driver, and multiple autos.

Before purchasing a policy, check with each company which discounts they offer. Savings might not be available to policyholders in Laredo. To see companies with significant discounts in Laredo, click this link.

Three reasons insurance is important

Even though it can be expensive, buying insurance may not be optional for several reasons.

• Almost all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability insurance coverage if you want to drive legally. 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 you took out a loan on your IS 350, almost every bank will force you to carry insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Lexus at a significantly higher premium and make you pay a much higher amount than you were paying before.
• Insurance protects both your assets and your Lexus. It will also cover all forms of medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your car is damaged in a storm or accident, your policy will pay to have it repaired.

The benefits of insuring your IS 350 more than offset the price you pay, especially if you ever need it. Unknowingly, the average driver overpays as much as $865 each year so it’s very important to do a rate comparison once a year at a minimum to make sure the price is not too high.

Local Laredo car insurance agents and auto insurance

A lot of people just want to sit down with an agent and we recommend doing that Good agents can make sure you are properly covered and give you someone to call. The biggest benefit of getting free rate quotes online is you may find lower car insurance rates and still have an agent to talk to. And providing support for local insurance agents is still important in Laredo.

Once you complete this short form, your coverage information is instantly submitted to participating agents in Laredo who will return price quotes for your insurance coverage. There is no need to do any legwork because prices are sent immediately to you. If you need to compare prices from a specific company, don’t hesitate to navigate to their website and fill out their quote form.

When narrowing the list to find a reliable agent, it’s helpful to know the types of agencies to choose from. Auto insurance agents in Laredo can be described as either independent agents or exclusive agents depending on their employer. Both types of agents can write policy coverage, but it’s important to know how they are different because it can influence your selection of an agent.

Independent Insurance Agents

Agents that elect to be independent do not have single company limitations and that allows them to write policies amongst many companies enabling the ability to shop coverage around. If you want to switch companies, an independent agent can move your coverage which makes it simple for you.

If you are trying to find cheaper rates, it’s a good idea to compare quotes from a few independent agents in order to have the best price comparison.

The following are independent insurance agencies in Laredo that can give you free price quotes.

View more Laredo agents

Exclusive Insurance Agencies

Agents in the exclusive channel have only one company to place business with and some examples include Allstate, State Farm and Farm Bureau. They generally cannot shop your coverage around so they really need to provide good service. They are highly trained on their company’s products which helps offset the inability to provide other markets.

The following are exclusive insurance agents in Laredo that are able to give price quote information.

View more Laredo agents

Deciding on an insurance agency requires you to look at more than just the bottom line cost. The answers to these questions are important, too.

• How many years have they been established?
• Where are claims handled?
• Is the agent properly licensed in Texas?
• When do they do a full risk review?
• Do you work with a CSR or direct with the agent?