Save Money on Lexus IS 350 Insurance in San Antonio

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Insurance rates Lexus IS 350 in San AntonioHave you finally had enough of robbing Peter to pay Paul each month for auto insurance? You are in the same boat as many other Texas drivers.

It's hard to fathom, but 70% of consumers renewed their policy with the same company for well over three years, and about 40% of consumers have never even compared quotes to find affordable rates. With the average premium in Texas being $2,680, drivers can cut their rates by roughly $1,800 a year just by getting comparison quotes, but most just don't grasp how much money they would save if they just switched companies.

There are many insurers to insure vehicles with, and even though it's nice to have a choice, it can be more difficult to compare company pricing for Lexus IS 350 insurance in San Antonio.

It's smart to do price comparisons once or twice a year because prices go up and down regularly. Even if you think you had the lowest price on Lexus IS 350 insurance in San Antonio on your last policy you may be paying too much now. Forget all the misinformation about auto insurance because I'm going to let you in on the secrets to the quickest way to properly buy coverages while reducing your premium.

Buying the cheapest auto insurance in San Antonio is not rocket science. If you are insured now, you will surely be able to get lower rates using the ideas you're about to read. Nevertheless, Texas drivers must learn the way companies sell online and use it to find better rates.

How Insurers Calculate Lexus IS 350 Insurance Costs

Lots of things are part of the calculation when you get your auto insurance bill. Most are fairly basic like a motor vehicle report, but some are less obvious like your continuous coverage or how safe your car is.

Listed below are a few of the "ingredients" auto insurance companies consider when setting your premiums.

  • Multiple policies with one company can save - Some auto insurance companies afford a discount to clients who carry more than one policy. It's known as a multi-policy discount. If you currently are using one company, you still need to compare other San Antonio IS 350 insurance rates to verify if the discount is saving money.There is a good possibility that you can find better rates by buying auto insurance from a different company.
  • Lower rates come with age - More mature drivers tend to be more responsible, cause fewer claims and accidents, and are generally more financially stable. Teenage drivers are statistically shown to be less responsible when driving so auto insurance rates are higher.

    The following data assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Alarms and GPS tracking lower rates - Choosing a vehicle that has a built-in theft deterrent system can save you some money. Theft prevention features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping your vehicle from being stolen.
  • Too many auto insurance claims drive up rates - Car insurance companies in Texas give discounts to people that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can pretty much guarantee either higher rates or even cancellation. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.
  • Your address can push rates up or down - Having an address in small towns and rural areas is a good thing when talking about auto insurance. People who live in big cities have to deal with more traffic problems and more severe claims. Less people means reduced accidents in addition to fewer liability claims.
  • Lexus IS 350 historical loss data - Auto insurance companies factor in historical loss data to help determine the price you pay. Models that are shown to have higher claim amounts or frequency will have higher premium rates. The data below shows the actual insurance loss data for Lexus IS 350 vehicles.

    For each insurance policy coverage type, the claim probability for all vehicles combined as an average is a value of 100. Percentage values below 100 indicate a favorable loss history, while values that are above 100 indicate more frequent claims or tendency to have higher losses.

    Lexus IS 350 Insurance Claim Statistics
    Vehicle 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 Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lexus IS 350 insurance rates and statistics

The premium information displayed next covers detailed analysis of insurance rates for Lexus IS 350 models. Learning as much as possible about how rates are formulated can be of help when making smart choices when buying a car insurance policy.

Lexus IS 350 Insurance Rates in San Antonio, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $354 $788 $430 $26 $128 $1,726 $144
IS 350 C 2-Dr Convertible $354 $788 $430 $26 $128 $1,726 $144
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Table data does not factor in your specific San Antonio location which can impact premiums noticeably.

Physical damage deductibles

One of the more difficult decisions when buying auto insurance is which comprehensive and collision deductibles to buy. The rates below illustrate the rate fluctuation when you select higher and lower comp and collision deductibles. The first data table uses a $100 deductible for comprehensive and collision coverage and the second rate table uses a $500 deductible.

Lexus IS 350 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $412 $804 $382 $22 $114 $1,759 $147
IS 350 C 2-Dr Convertible $412 $804 $382 $22 $114 $1,759 $147
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Lexus IS 350 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $300 $542 $382 $22 $114 $1,360 $113
IS 350 C 2-Dr Convertible $300 $542 $382 $22 $114 $1,360 $113
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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, multi-vehicle, homeowner, claim-free, and multi-policy. Price information does not factor in specific location which can raise or lower coverage prices considerably.

We can derive from the above data that using a $100 deductible would cost the average driver about $34 more each month or $408 a year than buying the higher $500 deductible. Due to the fact that you would have to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 12 months between claims, you would save money by selecting a higher deductible.

The chart below highlights how deductible choice and can change Lexus IS 350 insurance rates for different age groups of insureds. Data assumes a single female driver, comp and collision included, and no discounts are applied.

Careless driving habits raise San Antonio auto insurance rates

The chart below shows how speeding tickets and at-fault claims increase Lexus IS 350 insurance costs for each different age group. The data assumes a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

Male drivers compared to female drivers in San Antonio

The example below illustrates the comparison of Lexus IS 350 insurance rates for male and female drivers. The rate quotes are based on a clean driving record, no at-fault accidents, full coverage, $100 deductibles, drivers are single, and no discounts are applied.

Does it make sense to buy full coverage?

The illustration below shows the comparison of Lexus IS 350 yearly insurance costs with full coverage compared to only the Texas minimum liability coverage. The price estimates are based on no tickets, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

When to stop paying for full coverage

There is no clear-cut rule 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 about 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let's say your Lexus IS 350 claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $8,000 after the policy deductible has been paid. If you are currently paying more than $800 a year for physical damage coverage, then it may be the right time to buy liability only.

There are some cases where eliminating full coverage is not in your best interest. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not buy liability only.

Car insurance discounts are available for cheaper rates

Properly insuring your vehicles can get expensive, but you might already qualify for some discounts that many consumers don't even know exist. Certain credits will be shown when you quote, but a few need to be specifically requested before they will apply. If you do not double check each discount possible, you're just leaving money on the table.Save money with discounts

  • Passenger Safety Discount - Options like air bags could see savings up to 30%.
  • Telematics Data Discounts - Drivers who elect to allow data collection to spy on driving habits remotely like Drivewise from Allstate or In-Drive from State Farm may see discounts if they have good driving habits.
  • Driver Training Discounts - Taking a course that instructs on driving safety could save 5% or more and also improve your driving technique.
  • Payment Method - By making one initial payment rather than spreading payments over time you can avoid the installment charge.
  • Braking Control Discount - Cars and trucks that have anti-lock braking systems prevent accidents so you can save 10 percent or more.
  • Safe Driver Discounts - Drivers who don't get into accidents can save up to 40% or more on their San Antonio car insurance quote as compared to drivers with claims.
  • Discounts for Federal Employees - Simply working for the federal government can earn a discount up to 10% depending on your car insurance provider.
  • Senior Citizens - Seniors may be able to get a discount up to 10%.
  • Memberships - Being a member of qualifying clubs or civic groups may earn a discount on your next car insurance statement.

Please keep in mind that some of the credits will not apply to your bottom line cost. Some only reduce specific coverage prices like comprehensive or collision. So when it seems like it's possible to get free car insurance, that's just not realistic. Any qualifying discounts will bring down the amount you have to pay.

The example below shows the comparison of Lexus IS 350 insurance costs with and without discounts applied to the rates. Data assumes a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, marriage, multi-policy, and safe-driver discounts applied.

A partial list of companies that have many of the previously listed discounts include:

Double check with each company which discounts they offer. A few discounts may not apply to policyholders in every state. If you would like to choose from a list of car insurance companies with discount rates in San Antonio, follow this link.

Persistence pays off

Budget-friendly auto insurance in San Antonio is attainable online as well as from insurance agents, so get free San Antonio car insurance quotes from both of them in order to have the best chance of saving money. There are still a few companies who do not offer online price quotes and these smaller companies only sell through independent agencies.

As you restructure your insurance plan, it's very important that you do not skimp on critical coverages to save a buck or two. In too many instances, someone dropped liability coverage limits only to regret that it was a big error on their part. Your objective should be to get the best coverage possible at the best cost, not the least amount of coverage.

We just presented a lot of information how to shop for Lexus IS 350 insurance online. The most important thing to understand is the more you quote San Antonio car insurance, the better likelihood of getting low cost San Antonio car insurance quotes. Consumers may even find the lowest prices come from the smaller companies. These companies can often provide lower rates in certain areas compared to the large companies like Progressive or GEICO.

Additional detailed information can be found in the articles below: