Save Money on Lexus IS 350 Insurance in Buffalo

Nobody fancies paying their premiums for insurance, particularly when they could get a better deal.

Amazingly, a recent NerdWallet.com study showed that the vast majority of drivers kept their policy with the same company for four years or more, and almost 40% of drivers have never even compared rates from other companies. Consumers in the U.S. could save themselves $850 a year, but they don’t invest the time required to find lower-cost insurance rates.

Steps to finding affordable Lexus IS 350 insurance in Buffalo

The best way to get more affordable auto insurance rates in Buffalo is to compare prices once a year from providers who sell auto insurance in New York. You can compare rates by following these guidelines.

• First, take a few minutes and learn about what is in your policy and the things you can change to prevent expensive coverage. Many things that result in higher prices such as at-fault accidents, speeding tickets, and an imperfect credit score can be controlled by paying attention to minor details.
• Second, get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can give quotes from a single company like GEICO or Allstate, while agents who are independent can provide prices from multiple companies.
• Third, compare the new rates to the premium of your current policy and determine if there is any savings. If you find a better price, make sure there is no lapse in coverage.
• Fourth, give notification to your agent or company to cancel your current auto insurance policy and submit the completed application along with a down payment for the new policy. Don’t forget to keep your new proof of insurance paperwork in an easily accessible location.

One tip to remember is that you’ll want to compare similar limits and deductibles on every quote and and to compare as many carriers as you can. This provides an apples-to-apples comparison and and a good selection of different prices.

Lots of insurers contend for your hard-earned dollar, and because of this it can be hard to compare insurers to discover the definitive lowest cost out there.

Consumers should take time to compare premium rates quite often since prices are variable and change quite frequently. Just because you had the best price on Lexus IS 350 insurance in Buffalo a year ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because we’re going to demonstrate the easiest way to lower your rates without sacrificing coverage.

All major car insurance companies allow consumers to get price estimates on their websites. Doing online quotes for Lexus IS 350 insurance in Buffalo is quite easy because it’s just a matter of typing in the amount of coverage you want into the quote form. Once entered, the company’s rating system collects information on your driving record and credit history and returns pricing information. Being able to quote online for Lexus IS 350 insurance in Buffalo helps simplify price comparisons, and it’s also necessary to do this if you are searching for the most affordable premium possible.

To quickly get comparison pricing now, compare rate quotes from the providers shown below. If you have a policy now, it’s recommended you replicate the insurance coverages exactly as they are listed on your policy. Using the same limits helps guarantee you are getting an apples-to-apples comparison for the exact same coverage.

The companies in the list below can provide price quotes in Buffalo, NY. To locate cheap auto insurance in NY, it’s highly recommended you visit several of them to get a more complete price comparison.

Rate information and statistics

The price information shown below showcases a range of insurance coverage prices for Lexus IS 350 models. Understanding how insurance policy premiums are figured is important to be able to make smart choices when purchasing an insurance policy.

Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Information does not factor in Buffalo location which can impact coverage prices substantially.

Physical damage deductibles

When shopping for car insurance, a common question is how high should the deductibles for physical damage be. The figures shown below determine the rate difference between high and low policy deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Rate quotes do not factor in specific garaging location which can alter premium rates noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you roughly $23 more each month or $276 a year across all Lexus IS 350 models than requesting the higher $500 deductible. Since you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 17 months between claim filings, you would more than likely save some money if you elect the higher deductible.

Rate increases following a ticket or accident

The chart below highlights how speeding tickets and at-fault accidents can increase Lexus IS 350 annual premium costs for different age categories. The prices are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.

Lexus IS 350 insurance costs by gender and age in Buffalo

The illustration below shows the difference between Lexus IS 350 insurance costs for male and female drivers. The data is based on a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, marital status is single, and no additional discounts are factored in.

Learn How to Lower Your Insurance Rates

Smart consumers have a good feel for some of the elements that come into play when calculating the price you pay for auto insurance. If you know what impacts premium levels, this allows you to make educated decisions that will entitle you to much lower annual insurance costs. Many factors are taken into consideration when quoting car insurance. Some factors are common sense like a motor vehicle report, although others are less apparent such as whether you are married or how financially stable you are.

• What are good liability protection limits? – A critical coverage on your policy, liability insurance kicks in when you are found liable for damages caused by your negligence. Liability insurance provides legal defense coverage starting from day one. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should carry high limits.
• Avoid auto insurance lapses – Not having insurance is illegal and your next policy will cost more because you let your insurance coverage expire. Not only will you pay more, the inability to provide proof of insurance may earn you fines or a revoked license. You will then be forced to submit proof of financial responsibility or a SR-22 with the New York DMV.
• The more you drive the more you pay – The more miles you rack up on your Lexus every year the more you’ll pay to insure your vehicle. Many insurance companies charge rates based upon how the vehicle is primarily used. Vehicles that are left in the garage qualify for better rates than vehicles that are driven to work every day. Having the wrong rating on your IS 350 may be wasting your money. Verify your declarations sheet properly reflects the correct driver usage, because it can save money.
• File claims and pay more – If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Auto insurance companies in New York provide better rates to people who are claim-free. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.

• Claims statistics for a Lexus IS 350 – Insurance companies factor in historical loss data when setting rates for each model. Models that statistically have a higher amount or frequency of claims will cost more for specific coverages.

  The next table shows the insurance loss data used by companies for Lexus IS 350 vehicles. For each coverage type, the claim amount for all vehicles compiled together is a value of 100. Values under 100 indicate a favorable loss history, while percentage numbers above 100 indicate frequent claims or statistically larger claims.

  
  

  Insurance Loss Ratings for Lexus IS 350 Vehicles

  Vehicle Make and 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

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Auto insurance is not optional in New York

Despite the potentially high cost of Lexus IS 350 insurance, maintaining insurance may be mandatory for several reasons.

First, almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific level of liability if you drive a vehicle. In New York these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if your car has a loan, it’s guaranteed your bank will force you to have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Lexus at an extremely high rate and force you to pay much more than you were paying before.

Third, insurance protects both your car and your assets. It will also reimburse you for medical bills for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance will also pay for a defense attorney if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of insuring your car greatly outweigh the cost, especially with large liability claims. An average driver in America is currently overpaying as much as $865 each year so we recommend shopping around at every renewal to ensure rates are inline.