Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 5, 2015

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Trying to find cheaper insurance rates for your Lexus LS 430? No sane person is fond of buying insurance, especially when the cost is too high. Since you have so many insurance companies to choose from, it is hard for the average consumer to find the most cost effective insurance company.

Six discounts to earn cheaper auto insurance rates

Some insurers don’t list the entire discount list in a way that’s easy to find, so below is a list a few of the more well known in addition to some of the lesser obvious credits available to lower your premiums when you buy insurance online.

  • Buy New and Save – Buying a new car model can save up to 30% since newer models are generally safer.
  • Discount for Swiching Early – Some companies give discounts for renewing your policy before your current policy expires. You can save around 10% with this discount.
  • Multiple Cars – Insuring all your vehicles with the same auto insurance company can get a discount on all vehicles.
  • Theft Prevention System – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen with less frequency and will save you 10% or more.
  • Bundled Policy Discount – When you have multiple policies and insure them with the same company you could get a discount of up to 20% and get you low cost insurance.
  • Military Discounts – Being deployed in the military could be rewarded with lower auto insurance rates.

Remember that some of the credits will not apply to the entire cost. Most cut the price of certain insurance coverages like liability and collision coverage. Despite the fact that it seems like all those discounts means the company will pay you, you won’t be that lucky.

To view providers with discount auto insurance rates, click this link.

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The auto insurance bait and switch

Consumers can’t get away from ads that promise big savings for switching from the likes of State Farm and Allstate. They all seem to tend to make the same promise of big savings after switching your policy.

How is it possible that every company can say the same thing? It’s all in the words they use.

Different companies provide the lowest rates for a prospective insured that earns them a profit. An example of this type of risk profile could possibly be married and over the age of 30, insures multiple vehicles, and drives a lower-performance vehicle. A driver that hits that “sweet spot” may get the lowest premium rates and most likely will pay quite a bit less when switching companies.

Potential insureds who do not match the requirements may be forced to pay more expensive rates which leads to the customer buying from a different company. If you listen to the ad wording, they say “drivers that switch” but not “all drivers who get quotes” save that much money. This is how companies can truthfully advertise the savings. Because of these techniques, you absolutely need to do a quote comparison often. You cannot predict which auto insurance company will have the best premium rates for your profile.

Tailor your car insurance coverage to you

When buying adequate coverage, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. Here are some questions about coverages that might point out whether you might need professional guidance.

  • Should I put collision coverage on all my vehicles?
  • What can I do if my company won’t pay a claim?
  • When should I buy a commercial auto policy?
  • When would I need rental car insurance?
  • What exactly is covered by my policy?
  • Is upholstery damage covered by car insurance?
  • Are split liability limits better than a combined single limit?
  • Am I covered if hit by an uninsured driver?

If you can’t answer these questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.

Specific coverage details

Learning about specific coverages of a auto insurance policy can be of help when determining the best coverages for your vehicles. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages found on most auto insurance policies.

Collision protection

This covers damage to your LS 430 from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision insurance covers claims like backing into a parked car, sideswiping another vehicle, crashing into a ditch, colliding with another moving vehicle and damaging your car on a curb. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Coverage for medical payments

Med pay and PIP coverage provide coverage for immediate expenses such as doctor visits, dental work, surgery, prosthetic devices and rehabilitation expenses. They are used to cover expenses not covered by your health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible

Liability coverages

This will cover damages or injuries you inflict on a person or their property. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 which means $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability insurance covers things like repair costs for stationary objects, funeral expenses, legal defense fees and court costs. How much liability should you purchase? That is up to you, but buy as high a limit as you can afford.

Comprehensive coverages

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for things like hail damage, damage from a tornado or hurricane, rock chips in glass, a broken windshield and vandalism. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Enter your zip code below to view companies that have cheap auto insurance rates.

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Saving money makes a lot of cents

Budget-friendly car insurance can be bought on the web as well as from independent agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers do not provide internet price quotes and many times these smaller providers work with independent agents.

You just learned many ways to save on 2001 Lexus LS 430 insurance. The most important thing to understand is the more times you quote, the better chance you’ll have of finding low cost insurance. You may be surprised to find that the biggest savings come from a company that doesn’t do a lot of advertising. They often have lower premium rates on specific markets compared to the large companies like Progressive or GEICO.

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