Save on Lexus IS 350 Insurance in Memphis

Insurance for Lexus IS 350I can’t think of a single person who looks forward to paying premiums for auto insurance, especially when they know their premiums are through the roof.

Astonishing but true, almost 70% of drivers have bought auto insurance from the same company for over three years, and virtually 40% of consumers have never shopped around. Many consumers in Memphis could pocket as much as 35% a year by just shopping around, but they don’t know how much savings they would realize if they switched to a more affordable policy.

Steps to finding better rates for Lexus IS 350 insurance in Memphis

To save the most money, the best way to get cheaper auto insurance rates is to regularly compare prices from different companies in Memphis.

Step 1: Read about car insurance and the measures you can take to prevent expensive coverage. Many risk factors that result in higher prices like tickets, at-fault accidents, and an unacceptable credit history can be eliminated by making small lifestyle or driving habit changes.

Step 2: Request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO and State Farm, while independent agents can provide rate quotes from multiple companies.

Step 3: Compare the quotes to your existing rates and see if you can save money. If you can save money, make sure there is no coverage gap between policies.

An essential thing to point out is to make sure you’re comparing the same amount of coverage on each price quote and and to compare as many companies as feasibly possible. This ensures an apples-to-apples comparison and a complete selection of prices.

People have multiple insurers to choose from, and although it’s a good thing to have a choice, it makes it harder to find the best rates for your vehicles.

Lower rate quotes by earning discounts

Buying auto insurance is not cheap, but there are discounts available to help offset the cost. Certain discounts will be triggered automatically at the time of purchase, but a few must be specially asked for in order for you to get them.

A little note about advertised discounts, most discount credits are not given to your bottom line cost. Some only reduce specific coverage prices like comp or med pay. So when the math indicates you can get free auto insurance, it’s just not the way it works.

The chart below compares Lexus IS 350 annual premium costs with and without policy discounts. The prices are based on a male driver, no claims or driving citations, Tennessee state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, marriage, multi-policy, and homeowner discounts applied.

For a list of providers that have a full spectrum of discounts in Memphis, follow this link.

Getting a cheaper price on Lexus IS 350 insurance is a fairly straight forward process. Just spend a few minutes comparing rates from online providers.

It’s so simple to compare insurance rate quotes online takes the place of having to waste gas driving to local Memphis insurance agencies. Comparing Lexus IS 350 insurance rates online has made agencies unnecessary unless you prefer the peace of mind of a local agency. Some companies do allow you to get prices online but still have the advice of a local agent.

The companies in the list below provide price quotes in Tennessee. To locate cheap auto insurance in Tennessee, we recommend you click on several of them to get the best price comparison.

Car insurance analysis for a Lexus IS 350

The coverage table displayed below covers estimates of coverage costs for Lexus IS 350 models. Learning more about how rate quotes are established can be valuable when making smart choices when comparing insurance rates.

Lexus IS 350 Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $312 $628 $390 $24 $116 $1,470 $123
IS 350 C 2-Dr Convertible $312 $628 $390 $24 $116 $1,470 $123
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Price information does not factor in specific Memphis garaging location which can modify price quotes substantially.

Analysis of deductible levels

One of the hardest decisions when shopping for car insurance is at what level do you set your deductibles. The figures shown below may help to illustrate the differences in price when you choose different physical damage deductibles. The first data table uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $1,000 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 $312 $608 $288 $18 $86 $1,337 $111
IS 350 C 2-Dr Convertible $312 $608 $288 $18 $86 $1,337 $111
Get Your Own Custom Quote Go

Lexus IS 350 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $174 $320 $288 $18 $86 $886 $74
IS 350 C 2-Dr Convertible $174 $320 $288 $18 $86 $886 $74
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Premium costs do not factor in your specific Memphis location which can revise premium rates considerably.

Based on the data above, we can derive that using a $100 deductible costs about $37 more each month or $444 for a full year than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go at a minimum 24 months between claims, you would more than likely save some money if you choose a higher deductible.

Cautious Memphis drivers save money

The illustration below shows how violations and at-fault claims can impact Lexus IS 350 car insurance costs for different age groups. The premium estimates are based on a married female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.

Lexus IS 350 Insurance Rate Factors

A large part of saving on car insurance is knowing the different types of things that play a part in calculating the level of your policy premiums. When consumers understand what positively or negatively impacts your premiums, this enables you to make decisions that may reward you with lower rates.

The following are a few of the things used by your company to calculate your rate level.

Insurance agencies can find coverage gaps

Some people would prefer to sit down and talk to an agent and that is a smart decision Good insurance agents can answer important questions and will help you if you have claims. One of the best bonuses of getting online price quotes is that you can obtain lower rates and still have a local agent.

Memphis insurance agentsAfter completing this simple form, your insurance coverage information is submitted to companies in Memphis who will give you quotes and help you find cheaper coverage. You never need to search for an agent since rate quotes are delivered directly to your email. If you need to compare rates from a specific company, feel free to visit that company’s website and complete a quote there.

Choosing the best provider shouldn’t rely on just a low price. The questions below may impact your decision as well.

If you want to use a reliable agent, you need to know there are two different agency structures and how they are distinctly different. Insurance agents in Memphis can be categorized as either independent agents or exclusive agents depending on their employer. Either type can do a good job, but it’s worth mentioning how they differ because it may have an impact on which agent you choose.

Exclusive Insurance Agents

Agents in the exclusive channel generally can only insure with one company like AAA, Allstate, and State Farm. They usually cannot shop your coverage around so always compare other rates. Exclusive agents are usually well trained on their products and sales techniques and that can be a competitive advantage.

Below are Memphis exclusive agencies who can help you get price quote information.

420 S Germantown Pkwy #109Cordova, TN 38018(901) 761-5240View Map

579 S Perkins RdMemphis, TN 38117(901) 683-8600View Map

4466 Elvis Presley Blvd #247Memphis, TN 38116(901) 398-7200View Map

View more Memphis agents

Independent Agencies or Brokers

Independent agents often have affiliation with several companies so they can insure your vehicles with a variety of different insurance companies and help determine which has the cheapest rates. If they quote lower rates, your agent can just switch to a different company and you stay with the same agent.

If you need lower rates, you should always get quotes from at least one independent agent so that you can do a thorough price comparison.

Listed below are independent agencies in Memphis that can give you price quotes.

4608 Quince RdMemphis, TN 38117(901) 685-3008View Map

8046 N Brother Blvd #101Memphis, TN 38133(901) 386-4777View Map

4132 Elvis Presley BlvdMemphis, TN 38116(901) 346-2550View Map

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Three reasons to insure your Lexus IS 350

Even though it can be expensive, paying for insurance is a good idea for several reasons.

The benefits of carrying enough insurance definitely exceed the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is wasting up to $810 a year so it’s very important to do a rate comparison once a year at a minimum to be sure current rates are still competitive.

Car insurance savings summarized

Throughout this article, we presented a lot of tips how to compare Lexus IS 350 insurance auto insurance rates in Memphis. The key concept to understand is the more you quote Memphis car insurance, the better your chances of lowering your premium rates. Consumers could even find that the lowest auto insurance rates come from a small local company. These companies may cover specific market segments cheaper compared to the large companies like Allstate or State Farm.

When shopping online for car insurance, it’s a bad idea to reduce needed coverages to save money. In many instances, drivers have reduced physical damage coverage and found out when filing a claim that it was a big mistake. The aim is to get the best coverage possible at a price you can afford while still protecting your assets.

Steps to buying cheaper Lexus IS 350 insurance in Memphis

The preferred way to save money on car insurance rates is to compare prices once a year from insurance carriers who can sell car insurance in Memphis. Rate comparisons can be done by following these guidelines.

Step 1: Get an understanding of how car insurance works and the things you can change to prevent rate increases. Many rating criteria that drive up the price like careless driving and a negative credit history can be improved by paying attention to minor details.

Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give rate quotes from a single company like Progressive or Allstate, while agents who are independent can provide prices from multiple companies.

Step 3: Compare the new rate quotes to your current policy to see if a cheaper price is available. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

Step 4: Provide notification to your current agent or company of your intention to cancel your current policy and submit a signed application and payment to the new company. As soon as you can, store the proof of insurance certificate with your vehicle’s registration.

One tip to remember is to make sure you’re comparing the same level of coverage on each quote request and and to get rate quotes from every insurance company. This ensures an accurate price comparison and and a good selection of different prices.

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