Really, the only way to get cheaper Lexus IS 350 insurance in Aurora is to compare prices at least once a year from companies who provide auto insurance in Colorado.
- First, spend some time learning about auto insurance and the modifications you can make to drop your rates. Many things that are responsible for high rates such as distracted driving and an imperfect credit history can be amended by paying attention to minor details.
- Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Allstate, while independent agents can provide price quotes for a wide range of companies. Compare rates now
- Third, compare the new quotes to the premium of your current policy and determine if there is any savings. If you find a lower rate quote, make sure there is no coverage gap between policies.
- Fourth, provide written notification to your current company of your intention to cancel your existing policy. Submit a signed application and payment for your new policy. Once coverage is bound, place your new certificate of insurance above your visor, in the console, or in the glove compartment.
One bit of advice is to make sure you’re comparing similar limits and deductibles on each price quote and and to get rate quotes from as many companies as you can. This enables the most accurate price comparison and the most accurate and complete price analysis.
Remarkably, a study showed that most insurance buyers renewed their policy with the same company for at least the last four years, and roughly 40% of drivers have never even shopped around for cheap coverage. With the average insurance premium being $1,800, Colorado drivers could save $600 each year by just comparing rate quotes, but most undervalue how much they could save if they switched to a cheaper policy.
What Determines Lexus IS 350 Insurance Rates?
Many things are part of the calculation when you quote your car insurance policy. Some are obvious such as traffic violations, but others are more obscure like your vehicle usage or your commute time. Part of the car insurance buying process is learning the different types of things that are used to determine the rates you pay for car insurance. If you have some idea of what positively or negatively impacts your premiums, this helps enable you to make changes that can help you get lower rates.
The itemized list below are some of the most common factors car insurance companies consider when setting your premiums.
Where you live plays a part – Choosing to live in a small town has definite advantages when shopping for auto insurance. Drivers in populated areas have more aggressive driving styles and a longer drive to work. Fewer people means reduced accidents.
Theft deterrents lower rates – Driving a car with a theft deterrent system can earn a premium discount. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent car theft and help bring rates down.
Low stress job equals lower prices – Occupations like fire fighters, air traffic controllers, and medical professionals generally pay the highest average rates attributed to intense work requirements and long work days. Conversely, careers such as actors, athletes and performers pay lower than average rates.
Performance affects costs – The performance of the car you are buying insurance for makes a substantial difference in your premium level. The cheapest rates are usually found on the lowest performance passenger vehicles, but the cost you end up paying is determined by many additional factors.
The next chart is based on a single female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It shows Lexus IS 350 rates compared to other makes and models that have different risk factors.
File insurance claims and pay more – If you tend to file frequent claims, you can pretty much guarantee much higher rates or policy non-renewal. Companies in Colorado give the best rates to people who are claim-free. Auto insurance is intended to be relied upon for larger claims.
Insurance loss probability for a Lexus IS 350 – Insurance companies analyze claim trends for every vehicle to calculate a rate that will offset losses. Vehicles that statistically have higher frequency or amount of claims will cost more for specific coverages.
The table below illustrates the actual insurance loss data for Lexus IS 350 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of manufacturer or model, is considered to be 100. Numbers below 100 suggest a better than average loss history, while numbers that are greater than 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.
|Specific Lexus 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 from IIHS.org for 2013-2015 Model Years
Car insurance statistics for a Lexus IS 350
The rate table shown next showcases detailed analysis of insurance rates for Lexus IS 350 models. Having insight into how insurance prices are calculated can help customers make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|IS 350 4-Dr Sedan||$262||$514||$330||$20||$98||$1,224||$102|
|IS 350 C 2-Dr Convertible||$262||$514||$330||$20||$98||$1,224||$102|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Premium costs do not factor in specific location which can affect insurance rates significantly.
The illustration below demonstrates how choosing different deductibles and can impact Lexus IS 350 insurance costs for different age groups. The costs are based on a married female driver, full coverage, and no discounts are applied to the premium.
Violations and accidents raise rates
The diagram below illustrates how speeding tickets and accidents can influence Lexus IS 350 car insurance rates for different insured age categories. The prices are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.
Premiums by gender and age
The diagram below shows the difference between Lexus IS 350 insurance costs for male and female drivers. The rate quotes are based on no claims, a clean driving record, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are factored in.
Should you buy full coverage?
The diagram below shows the difference between Lexus IS 350 insurance rates when comparing full coverage to liability only. The rates are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied.
When to switch to liability coverage only
There is no definitive guideline for excluding full coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s pretend your Lexus IS 350 replacement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after the deductible is paid. If premiums are more than $700 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some circumstances where dropping full coverage is not financially feasible. If you haven’t satisfied your loan, you have to keep full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage.
Get affordable Lexus IS 350 insurance in Aurora with discounts
Insurance is not an enjoyable expense, but there’s a good chance there are discounts that can help lower your rates. Many discounts should be triggered when you get a quote, but some need to be specifically requested before being credited. If they aren’t giving you every credit possible, you could be paying more than you need to.
- Resident Student – Youth drivers who are attending college and do not have access to a covered vehicle could qualify for this discount.
- Homeowners Savings – Just owning your own home can save you money because maintaining a house is proof of financial responsibility.
- Driver’s Education for Students – Require your teen driver to participate in a local driver’s education class as it can save substantially.
- Professional Memberships – Being in a civic or occupational organization in Aurora could earn you a nice discount on your policy.
- Active Military Service – Being on active duty in the military may qualify for rate reductions.
- Theft Prevention System – Cars equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and will qualify for a discount on a Aurora auto insurance quote.
- Telematics Data – Insureds that choose to allow their company to monitor where and when they drive by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates if they have good driving habits.
- Passive Restraints and Air Bags – Options like air bags or motorized seat belts may earn rate discounts of more than 20%.
- Defensive Driver Discount – Completing a safe driver course could earn you a small percentage discount and easily pay for the cost of the class.
As a sidenote, most of the big mark downs will not be given to all coverage premiums. The majority will only reduce individual premiums such as physical damage coverage or medical payments. So when it seems like adding up those discounts means a free policy, company stockholders wouldn’t be very happy. Any qualifying discounts will bring down the cost of coverage.
The chart below illustrates the difference between Lexus IS 350 auto insurance costs with and without discounts being applied to the rates. The rates are based on a female driver, no accidents, no driving violations, Colorado state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, multi-car, claim-free, and homeowner discounts applied.
The best insurance companies and some of the discounts are outlined below.
- State Farm may include discounts for safe vehicle, good driver, multiple policy, student away at school, accident-free, and Drive Safe & Save.
- Nationwide discounts include good student, family plan, defensive driving, easy pay, and anti-theft.
- GEICO may have discounts that include daytime running lights, good student, multi-vehicle, multi-policy, membership and employees, and federal employee.
- AAA offers premium reductions for multi-car, education and occupation, good driver, good student, pay-in-full, and multi-policy.
- 21st Century offers discounts for driver training, anti-lock brakes, air bags, teen driver, and theft prevention.
- The Hartford has discounts for anti-theft, defensive driver, vehicle fuel type, good student, driver training, and bundle.
Before you buy a policy, ask every insurance company what discounts are available to you. Some of the earlier mentioned discounts may not apply everywhere. If you would like to view insurance companies that provide some of the discounts listed above in Aurora, follow this link.
Best auto insurance company in Aurora
Picking a good quality car insurance company can be challenging considering how many companies are available to choose from in Aurora. The rank data listed below could help you choose which coverage providers you want to consider when comparing rates.
Top 10 Aurora Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
Smart consumers save more
We just showed you quite a bit of information on how to find lower-cost Lexus IS 350 insurance in Aurora. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the best price on auto insurance is with some of the lesser-known companies. Smaller companies often have lower prices on specific markets than their larger competitors like Allstate or State Farm.
Lower-priced auto insurance in Aurora can be sourced from both online companies and with local Aurora insurance agents, so get free Aurora auto insurance quotes from both of them so you have a total pricing picture. There are still a few companies who may not offer online price quotes and these small insurance companies provide coverage only through independent agents.
To learn more, feel free to visit the following helpful articles:
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Who Has the Cheapest Aurora Auto Insurance for Immigrants? (FAQ)
- Who Has Cheap Aurora Auto Insurance for Seniors? (FAQ)
- How Much is Car Insurance for a Subaru Impreza in Aurora? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Used Cars in Aurora? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Child Safety FAQ (iihs.org)