Would you prefer to buy the cheapest Lexus IS 350 insurance in Chandler? If you’re new to shopping for Chandler auto insurance quotes online, there’s a good chance you are confused due to the large selection of online auto insurance companies and websites vying for business in Chandler.
How to buy lower priced Lexus IS 350 insurance in Chandler
It takes a few minutes, but the best way to find cheaper quotes for auto insurance rates is to start comparing rates regularly from companies who provide car insurance in Chandler. Prices can be compared by following these guidelines.
First, spend some time learning about what coverages are included in your policy and the factors you can control to prevent high rates. Many rating factors that increase rates such as multiple speeding tickets and a not-so-good credit score can be rectified by making small lifestyle or driving habit changes.
Second, compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from many different companies. View prices
Third, compare the new rates to your current policy and determine if there is any savings. If you can save money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, tell your current company of your intention to cancel your current auto insurance policy and submit a completed policy application and payment to the newly selected company. As soon as you can, store the proof of insurance certificate above your visor, in the console, or in the glove compartment.
A good tip to remember is that you’ll want to make sure you compare identical coverages on every quote and and to analyze as many auto insurance providers as possible. This ensures a fair price comparison and a complete price analysis.
It’s safe to assume that car insurance companies don’t want you quoting rates from other companies. Drivers who shop for lower prices will, in all likelihood, buy a different policy because of the high probability of finding lower prices. A recent auto insurance study discovered that consumers who compared rate quotes regularly saved an average of $3,500 over four years compared to other drivers who never compared rates.
If finding low prices for insurance in Chandler is the reason for your visit, then learning a little about how to quote and compare insurance can help make the process easier.
Consumers need to compare rates at least once a year because insurance rates change frequently. If you had the best deal on Lexus IS 350 insurance in Chandler last year you can probably find a better price now. There is a lot of bad information regarding IS 350 insurance out there, but in this article, you’re going to get some of the best ways to buy auto insurance cheaper in Chandler.
Detailed insurance information
The rate table below showcases estimates of insurance coverage prices for Lexus IS 350 models. Learning how premiums are figured is important for you to make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $266 | $488 | $308 | $18 | $92 | $1,172 | $98 |
| IS 350 C 2-Dr Convertible | $266 | $488 | $308 | $18 | $92 | $1,172 | $98 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Arizona minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Prices do not factor in the specific area where the vehicle is garaged which can revise auto insurance rates noticeably.
How high should deductibles be?
One of the most common insurance questions is how high or low should comp and collision deductibles be. The figures shown below can help show the rate fluctuation between low and high physical damage coverage deductibles. The first rate table uses a $100 comprehensive and collision deductible and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $324 | $632 | $300 | $18 | $90 | $1,389 | $116 |
| IS 350 C 2-Dr Convertible | $324 | $632 | $300 | $18 | $90 | $1,389 | $116 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $180 | $334 | $300 | $18 | $90 | $922 | $77 |
| IS 350 C 2-Dr Convertible | $180 | $334 | $300 | $18 | $90 | $922 | $77 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Premium costs do not factor in specific garaging location which can increase or decrease coverage rates greatly.
Using the premium rates above, we can conclude that using a $100 deductible costs an average of $39 more each month or $468 a year than choosing the higher $1,000 deductible. Since you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 23 months between claim filings, you would save more money if you choose a higher deductible. The table below shows how you can do this calculation yourself.
| Average monthly premium for $100 deductibles: | $116 |
| Average monthly premium for $1,000 deductibles (subtract): | – $77 |
| Monthly savings from raising deductible: | $39 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $39 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
Insurance premiums based on gender
The illustration below shows the difference between Lexus IS 350 auto insurance rates for male and female drivers. The prices are based on a clean driving record, no claims, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are taken into consideration.
Price comparison of only insuring for liability
The chart below shows the difference between Lexus IS 350 car insurance costs with full physical damage coverage compared to only buying liability only. The premiums are based on no violations or claims, $100 deductibles, single status, and no policy discounts are applied.
Guidelines for eliminating full coverage
There is no exact formula for eliminating comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s pretend your Lexus IS 350 settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after the deductible is paid. If you are paying in excess of $300 a year for full coverage, then it may be the right time to buy liability only.
There are some cases where dropping full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Lower rate quotes on Lexus IS 350 insurance in Chandler with these seven discounts
Insurance can be prohibitively expensive, but you might find some hidden discounts that you may not even be aware of. Certain discounts will be applied at the time you complete a quote, but a few need to be asked about before being credited.
- Discount for Swiching Early – Some companies provide a discount for renewing your policy prior to your current IS 350 insurance policy expiration. It’s a savings of about 10%.
- Payment Method – By paying your policy upfront rather than paying in monthly installments you could save 5% or more.
- Employee of Federal Government – Employees or retirees of the government could qualify for a slight premium decrease with select insurance companies.
- Accident Waiver – Not necessarily a discount, but a handful of insurance companies may permit one accident before hitting you with a surcharge as long as you don’t have any claims before the accident.
- Discounts for Seat Belt Usage – Requiring all passengers to wear their seat belts can save up to 15% off PIP or medical payments premium.
- Passive Restraints – Vehicles with factory air bags can qualify for discounts of 20 to 30 percent.
- Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase life insurance.
Discounts reduce rates, but you should keep in mind that most credits do not apply to the entire cost. A few only apply to specific coverage prices like liability and collision coverage. So when it seems like you can get free auto insurance, you’re out of luck. Any qualifying discounts will bring down the premium cost.
The illustration below shows the comparison of Lexus IS 350 insurance costs with and without discounts applied to the rates. The premiums are based on a female driver, no accidents, no driving violations, Arizona state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, safe-driver, multi-policy, and homeowner discounts applied.
A list of companies and their offered discounts can be found below.
- State Farm includes discounts for driver’s education, passive restraint, good student, accident-free, and defensive driving training.
- Farmers Insurance may offer discounts for youthful driver, teen driver, electronic funds transfer, business and professional, mature driver, and bundle discounts.
- GEICO offers premium reductions for seat belt use, five-year accident-free, multi-policy, driver training, anti-theft, multi-vehicle, and good student.
- American Family may have discounts that include early bird, defensive driver, multi-vehicle, bundled insurance, good student, accident-free, and TimeAway discount.
- Nationwide may include discounts for good student, accident-free, defensive driving, easy pay, Farm Bureau membership, and anti-theft.
- Progressive discounts include online signing, multi-vehicle, continuous coverage, online quote discount, and homeowner.
Before purchasing a policy, check with each company or agent which discounts they offer. Discounts may not be offered in every state. To see insurers that offer multiple discounts in Chandler, click here to view.
Educate yourself about insurance coverages
Having a good grasp of your insurance policy can be of help when determining the right coverages and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring.
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family as well as your vehicle’s damage.
Since many Arizona drivers have only the minimum liability required by law (15/30/10 in Arizona), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Liability insurance
Liability coverage protects you from damages or injuries you inflict on other’s property or people that is your fault. This coverage protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 15/30/10 that translate to a $15,000 limit per person for injuries, a per accident bodily injury limit of $30,000, and a total limit of $10,000 for damage to vehicles and property.
Liability coverage protects against claims like bail bonds, attorney fees and structural damage. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible. Arizona state minimum liability requirements are 15/30/10 but you should think about purchasing more liability than the minimum.
The illustration below shows why buying minimum limits may not provide you with enough coverage.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for things like X-ray expenses, dental work, doctor visits and nursing services. They can be utilized in addition to your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is only offered in select states and gives slightly broader coverage than med pay
Comprehensive coverage
This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things such as a broken windshield, a tree branch falling on your vehicle, vandalism, damage from flooding and rock chips in glass. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Collision protection
Collision insurance pays for damage to your IS 350 resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against things like colliding with a tree, sustaining damage from a pot hole, damaging your car on a curb and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible on your IS 350 to save money on collision insurance.
Keep this in mind when shopping around
As you prepare to switch companies, do not skimp on coverage in order to save money. There are a lot of situations where someone dropped comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. Your strategy should be to get the best coverage possible at the best possible price, but do not skimp to save money.
Some companies may not have the ability to get quotes online and most of the time these smaller companies sell through independent agents. Affordable Lexus IS 350 insurance in Chandler is available on the web in addition to many Chandler insurance agents, so you should be comparing quotes from both so you have a total pricing picture.
Throughout this article, we presented a lot of information how to get a better price on Lexus IS 350 insurance in Chandler. The key thing to remember is the more price quotes you have, the better likelihood of getting cheaper Chandler auto insurance quotes. Drivers may even discover the most savings is with a small local company.
How to buy discount Lexus IS 350 insurance in Chandler
If you want to save the most money, the best way to get discount Lexus IS 350 insurance is to compare quotes annually from providers who can sell car insurance in Chandler. You can compare prices by following these steps.
Step 1: Take a few minutes and learn about how your policy works and the steps you can take to keep rates in check. Many things that cause rate increases like high-risk driving behaviors and a negative credit history can be remedied by paying attention to minor details.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like Progressive or Allstate, while independent agents can quote rates from multiple companies. Start a quote
Step 3: Compare the price quotes to your existing policy to see if a cheaper price is available. If you find better rates, make sure coverage does not lapse between policies.
Step 4: Provide written notification to your current company of your decision to cancel your current policy and submit payment and a signed application for the new coverage. Make sure you safely store the certificate of insurance somewhere easily accessible.
One key aspect when comparing rates is to make sure you enter identical coverages on each quote and and to look at as many different companies as possible. Doing this guarantees a level playing field and a thorough selection of prices.
Additional auto insurance information can be read on the following sites:
- Older Drivers FAQ (iihs.org)
- How Much are Car Insurance Rates for a GMC Sierra in Chandler? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for 16 Year Olds in Chandler? (FAQ)
- Who Has Affordable Auto Insurance with Multiple Speeding Tickets in Chandler? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Prom Night Tips for Teen Drivers (State Farm)
- Uninsured Motorist Statistics (Insurance Information Institute)
- Eight Auto Insurance Myths (Insurance Information Institute)