Are you regretting buying an expensive car insurance policy? Say no more because many consumers are feeling buyer’s remorse and feel like there’s no way out. Multiple auto insurance companies compete for your business, and it can be difficult to compare rates to discover the definitive lowest cost out there.
The price of auto insurance can be rather high, but there could be significant discounts that can help lower your rates. Some discounts apply automatically at the time you complete a quote, but a few need to be requested specifically before they will apply.
Drivers should understand that some of the credits will not apply to the entire policy premium. The majority will only reduce individual premiums such as liability and collision coverage. Just because it seems like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
A list of companies and their offered discounts are:
Before buying, ask all the companies what discounts are available to you. Some credits may not apply to policyholders in your area. To find companies who offer discounts, click here to view.
There are several ways to compare insurance coverage quotes, but one way is more efficient than others. You can spend countless hours talking to insurance agencies in your area, or you could use online quoting to get rates in a matter of minutes.
Many of the larger companies participate in an industry program where prospective buyers send in one quote, and each company returns a competitive quote based on that data. This saves time by eliminating quotation requests to every company.
To find out what other companies charge click here (opens in new window).
One minor caviat to pricing coverage this way is you are unable to specify the providers you want pricing from. So if you prefer to choose individual companies to request quotes from, we have a page of insurance coverage companies in your area. Click to view list.
You can use whichever method you prefer to find lower rates, just make sure you compare nearly identical quote information for every company. If the quotes have different deductibles it will be impossible to truly determine the lowest rate.
When it comes to buying proper insurance coverage for your personal vehicles, there really is not a one size fits all plan. Every situation is different and your policy should reflect that. For example, these questions might point out if you might need professional guidance.
If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and may give you better protection.
Learning about specific coverages of a car insurance policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. Listed below are typical coverages offered by car insurance companies.
This coverage provides protection from damage or injury you incur to other people or property. This coverage protects you against claims from other people, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery. Another option is one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.
Liability coverage pays for claims such as medical expenses, repair costs for stationary objects, emergency aid and court costs. How much liability coverage do you need? That is up to you, but you should buy as high a limit as you can afford.
This coverage will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as hitting a deer, theft, a broken windshield, hitting a bird and hail damage. 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 consider dropping full coverage.
This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Lexus IS 350.
Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Most of the time the UM/UIM limits are set the same as your liablity limits.
Collision insurance will pay to fix damage to your IS 350 from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims such as colliding with another moving vehicle, crashing into a ditch, sideswiping another vehicle and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible to get cheaper collision coverage.
Med pay and PIP coverage provide coverage for immediate expenses for things like ambulance fees, dental work, funeral costs, surgery and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
When trying to cut insurance costs, never reduce needed coverages to save money. There are too many instances where someone dropped full coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your objective should be to buy enough coverage at the best cost while still protecting your assets.
We covered a lot of ways to get a better price on 2007 Lexus IS 350 insurance. It’s most important to understand that the more you quote insurance coverage, the better chance you’ll have of finding inexpensive insurance coverage. You may even discover the best price on insurance is with the smaller companies. These companies may often insure only within specific states and give getter rates as compared to the big name companies such as State Farm, GEICO and Nationwide.
Cheaper 2007 Lexus IS 350 insurance is possible both online and with local insurance agents, and you need to comparison shop both so you have a total pricing picture. A few companies do not provide online price quotes and usually these smaller providers prefer to sell through independent agents.
More detailed insurance information is available at these sites: