How Much Does 1998 Lexus ES 300 Insurance Cost?

Trying to find better car insurance rates for your Lexus ES 300? Overpriced Lexus ES 300 insurance can empty your personal savings and put a big crunch on your finances. Comparing price quotes is free and is an excellent way to tighten up your finances.

Big-name insurance companies like State Farm, Progressive and Geico increase brand awareness with ad campaigns and it can be hard to see through the deception and do the work needed to find the best deal.

Why you might be paying too much to insure your Lexus ES 300

An important part of buying insurance is that you know the factors that come into play when calculating the price you pay for insurance coverage. Having a good understanding of what influences your rates enables informed choices that will entitle you to better insurance coverage rates.

  • Bad driving skills means higher rates – Good drivers get better rates than people who have multiple driving citations. Even a single citation can increase rates by as much as thirty percent. Drivers with severe tickets such as DWI, reckless driving or hit and run convictions are required to submit a SR-22 form with their state motor vehicle department in order to drive a vehicle legally.
  • Poor credit can mean higher rates – Credit score is a big factor in calculating your insurance coverage rates. Drivers with high credit scores tend to file fewer claims and have better driving records than those with lower credit ratings. So if your credit is low, you could pay less to insure your 1998 Lexus ES 300 by repairing your credit.
  • Rates may be higher depending on your occupation – Occupations like real estate brokers, executives and financial analysts tend to pay higher average rates due to high stress levels and lengthy work days. Conversely, jobs such as scientists, engineers and the unemployed have the lowest average rates for ES 300 coverage.
  • Don’t cancel a policy without a new one in place – Having an insurance coverage lapse is a quick way to pay more for insurance coverage. And not only will your rates increase, getting caught without coverage can result in a steep fine or even jail time.

How to Lower Your Car Insurance Cost

All the larger car insurance companies like Progressive, Allstate and Geico provide price estimates on the web. The process is quite simple as you simply enter your required coverages as detailed in the form. After you complete the form, their rating system gets your driving record and credit report and returns a price quote based on these and other factors. Being able to quote online makes it a lot easier to compare rates but the time required to go to a lot of sites and fill out multiple forms is repetitive and time-consuming. But it’s absolutely necessary to have as many quotes as possible if you want to find better prices.

The easy way to compare rates

The easiest way to lower your car insurance bill utilizes a single form that gets prices from multiple companies. This type of form saves time, requires much less work on your part, and makes rate comparisons much more enjoyable and efficient. After sending the form, it is quoted with multiple companies and you can pick any of the quotes returned. If you find a better price you can simply submit the application and buy the new coverage. The whole process can be completed in a matter of minutes and you will find out if you’re overpaying now.

To quickly compare pricing, click here to open in a new tab and fill out the form. If you currently have coverage, we recommend you complete the form with the coverages exactly as they are listed on your policy. This helps ensure you will be getting rate comparison quotes based on similar coverages.

How can Progressive, Allstate and Geico save drivers who switch?

Companies like Progressive, Allstate and Geico consistently run television and radio advertisements. All the ads have a common claim about savings if you change to them. How can each company make the same claim?

All companies have a preferred profile for the type of customer that is profitable for them. An example of a profitable customer might be profiled as over the age of 50, a clean driving record, and has excellent credit. Any driver who meets those qualifications will get the preferred rates and most likely will save quite a bit of money when switching.

Consumers who don’t measure up to the requirements will be quoted more money and this can result in the driver buying from a lower-cost company. The ad wording is “drivers who switch” not “people who quote” save that much. That is how insurance companies can state the savings. This emphasizes why it’s extremely important to get quotes from several different companies. It’s impossible to know which insurance companies will provide you with the cheapest Lexus ES 300 insurance rates.

These discounts can slash insurance rates

Companies that sell car insurance don’t always list every discount very well, so the following is a list of some of the best known and also the lesser-known discounts you could be receiving.

  • Club Memberships – Being a member of a professional or civic organization may earn a discount when shopping for insurance for ES 300 coverage.
  • Student in College – Kids in college who live away from home and don’t have a car can receive lower rates.
  • Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% on the medical payments or PIP coverage costs.
  • Passive Restraints – Vehicles with factory air bags or automatic seat belts may earn rate discounts of 20% or more.
  • Save with a New Car – Adding a new car to your policy can save up to 30% due to better safety requirements for new cars.

Keep in mind that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates you can get free auto insurance, companies wouldn’t make money that way.

To see a list of insurers with the best insurance discounts, click here.

When might I need the advice of an agent?

When it comes to choosing the right insurance coverage, there really is not a best way to insure your cars. Coverage needs to be tailored to your specific needs so your insurance needs to address that. For instance, these questions can aid in determining if your situation will benefit from professional help.

  • Which is better, split liability limits or combined limits?
  • Am I covered when pulling a rental trailer?
  • Where can I find DUI or SR-22 insurance?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • How can I force my company to pay a claim?
  • How much liability coverage do I need in my state?
  • Do I really need UM/UIM coverage?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area.

Coverages available on your insurance policy

Knowing the specifics of your policy helps when choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverages found on the average insurance policy.

Collision insurance

Collision insurance pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as scraping a guard rail, sideswiping another vehicle and crashing into a building. This coverage can be expensive, so consider dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Auto liability insurance

This can cover injuries or damage you cause to a person or their property that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against claims such as legal defense fees, medical expenses, pain and suffering and emergency aid. How much liability should you purchase? That is a personal decision, but you should buy as large an amount as possible.

UM/UIM Coverage

This coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Medical costs insurance

Med pay and PIP coverage kick in for short-term medical expenses such as EMT expenses, surgery and X-ray expenses. The coverages can be used to fill the gap from your health insurance program or if there is no health insurance coverage. It covers you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like fire damage, hitting a deer, damage from flooding, damage from getting keyed and falling objects. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Never pay more for less

Affordable 1998 Lexus ES 300 insurance is available both online and also from your neighborhood agents, so you should be comparing quotes from both so you have a total pricing picture. A few companies may not provide online quoting and many times these smaller companies only sell through independent insurance agents.

As you restructure your insurance plan, make sure you don’t reduce coverage to reduce premium. There are many occasions where an accident victim reduced full coverage and discovered at claim time that the few dollars in savings costed them thousands. The aim is to get the best coverage possible at a price you can afford.

More detailed insurance coverage information can be read in the articles below: