Save Money on Lexus IS 350 Insurance in Nashville

If you want to save money, the best way to find cheaper quotes for Lexus IS 350 insurance in Nashville is to start comparing rates regularly from providers who provide car insurance in Tennessee.

  1. Spend a few minutes and learn about how your policy works and the factors you can control to drop your rates. Many policy risk factors that are responsible for high rates like speeding tickets, careless driving and a negative credit score can be controlled by making small lifestyle or driving habit changes. Keep reading for additional ideas to prevent high prices and find overlooked discounts.
  2. Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from one company like GEICO or Allstate, while agents who are independent can provide prices for many different companies.
  3. Compare the price quotes to your current policy to see if cheaper IS 350 coverage is available in Nashville. If you find a better price, make sure there is no coverage gap between policies.
  4. Provide notification to your current agent or company to cancel the current policy and submit a completed application and payment to the newly selected company. When you receive it, place the new proof of insurance paperwork with your vehicle’s registration.

One tip to remember is to compare the same amount of coverage on every quote and and to get price quotes from as many different companies as possible. This provides a fair rate comparison and and a good selection of different prices.

Discount Lexus IS 350 insuranceSmart shoppers know that insurance companies don’t want you comparing rates. Drivers who compare rates annually will most likely switch to a new company because they stand a good chance of finding better rates. Surprisingly, a recent survey revealed that drivers who regularly shopped around saved $860 a year as compared to drivers who didn’t regularly shop around.

If finding the lowest rates on auto insurance in Nashville is your ultimate goal, then having a good understanding how to compare auto insurance can make shopping around easier.

If you are insured now, you will definitely be able to find better prices using the techniques presented in this article. Obtaining price quotes for the best insurance coverage in Nashville is not that difficult. But Tennessee car owners do need to know the way companies determine prices and use this information to your advantage.

The quickest method to compare policy rates for Lexus IS 350 insurance in Nashville is to realize most of the larger companies have advanced systems to provide you with free rate quotes. To begin a comparison, all you need to do is spend a couple of minutes providing details such as if you lease or own, driver details, if you went to college, and if you have a valid license. Your rating data gets sent immediately to many different companies and you will receive price estimates almost instantly.

If you wish to get multiple quotes for your Lexus IS 350 now, click here and see if a lower rate is available in Nashville.

The companies shown below can provide quotes in Nashville, TN. In order to find cheap car insurance in Nashville, we recommend you click on several of them in order to find the lowest rates.

Coverage information

The table displayed next outlines detailed analysis of rate quotes for Lexus IS 350 models. Knowing how auto insurance premiums are figured can help drivers make smart choices when purchasing an insurance policy.

Lexus IS 350 Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 350 4-Dr Sedan $196 $404 $304 $18 $90 $1,012 $84
IS 350 C 2-Dr Convertible $196 $404 $304 $18 $90 $1,012 $84
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Premium amounts do not factor in garaging location in Nashville which can affect insurance rates substantially.

An analysis of deductible level

One frequently asked question is what deductibles to buy. The comparisons below highlight how much more rates are when you choose different physical damage coverage deductibles. The first set of rates uses a $100 deductible for physical damage and the second set of rates uses a $1,000 deductible.

Lexus IS 350 insurance premium 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
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Lexus IS 350 insurance premium 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
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in your specific Nashville location which can lower or raise rates considerably.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs roughly $37 more each month or $444 a year across all Lexus IS 350 models than opting for the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you usually have at least 24 months between claim filings, you would probably save some money if you opt for a higher deductible.

Calculation for determining deductible levels

Average monthly premium for $100 deductibles: $111
Average monthly premium for $1,000 deductibles (subtract): – $74
Monthly savings from raising deductible: $37
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $37
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 24 months

One important caveat is that raising deductibles to get cheaper rates means you will have to pay more of your own money when you file a claim. You will want to have some extra savings in order to pay the deductible.

The illustration below shows how choosing a deductible and can affect Lexus IS 350 insurance costs for different categories of driver ages. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Males versus Females

The chart below illustrates the difference between Lexus IS 350 insurance rates for male and female drivers. The information is based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Full coverage rates vs. liability-only

The chart below illustrates the comparison of Lexus IS 350 car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

When to drop comp and collision

There is no exact formula for excluding comp and collision coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Lexus IS 350 replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after the deductible is paid. If it’s costing in excess of $500 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some circumstances where removing full coverage is not in your best interest. If you haven’t paid off your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.

Components of Your Lexus IS 350 Insurance Prices

Lots of things are part of the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving record, but other criteria are not quite as obvious like where you live or your vehicle rating.

Alarms and GPS tracking lower rates – Choosing a vehicle with an alarm system can help lower your premiums. Theft deterrent systems like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems help track and prevent car theft and help bring rates down.

Be proud to be claim-free – If you’re an insured who likes to file claims don’t be surprised to see higher premiums or even policy non-renewal. Companies in Tennessee generally give most affordable rates to policyholders who do not rely on their insurance for small claims. Your car insurance is meant to be used in the event of claims that pose a financial burden.

Vehicles with better crash test results save money – Cars with five star safety ratings can get you lower premiums. The safest vehicles result in less severe injuries and fewer serious injuries means lower claim amounts and more competitive rates for policyholders.

Better drivers pay the best prices – Your driving record has a huge affect on how much you pay. Careful drivers tend to pay less for car insurance than people who have multiple driving citations. Having a single citation can bump up the cost substantially. Drivers who get flagrant violations such as DUI, reckless driving or excessive speeding may face state-mandated requirements to maintain a SR-22 with their state DMV in order to keep their license.

The illustration below illustrates how violations and fender-benders can influence Lexus IS 350 insurance costs for each age group. The premiums are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are applied.

Marriage discount – Walking down the aisle may earn you lower rates compared to being single. Marriage translates into being more mature than a single person and insurance companies like that drivers who are married are more cautious.

Insurance loss statistics a Lexus IS 350 – Car insurance companies include the past claim history for a vehicle to calculate a price that offsets possible losses. Vehicles that the data determines to have higher frequency or amount of claims will be charged more to insure.

The table below outlines the compiled insurance loss statistics for Lexus IS 350 vehicles. For each coverage type, the claim amount for all vehicles, as a total average, is represented as 100. Numbers under 100 suggest losses that are better than average, while values that are above 100 indicate more frequent claims or an increased chance of a larger loss.

Lexus IS 350 Insurance Claim Statistics
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

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

Choosing Lexus IS 350 insurance is an important decision

Despite the high cost of buying insurance for a Lexus IS 350 in Nashville, paying for car insurance may be mandatory for several reasons.

First, almost all states have compulsory liability insurance requirements which means you are required to carry a minimum amount of liability protection in order to be legal. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.

Second, if you bought your Lexus IS 350 with a loan, most banks will make it a condition of the loan that you buy insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank will be required to insure your Lexus at a more expensive rate and require you to pay a much higher amount than you were paying before.

Third, insurance safeguards not only your vehicle but also your assets. Insurance will pay for all forms of medical expenses for not only you but also any passengers injured in an accident. Liability insurance will also pay attorney fees if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.

The benefits of buying car insurance outweigh the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer overpays more than $855 a year so compare quotes from several companies at every policy renewal to help ensure money is not being wasted.

Ratings for Nashville auto insurance companies

Buying coverage from a good quality insurer can be difficult considering how many choices you have in Nashville. The ranking data shown below may help you analyze which insurers to look at when comparing rate quotes.

Top 10 Nashville Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. Erie Insurance
  9. Esurance
  10. The General