It’s safe to assume that car insurance companies want to keep you from shopping around. Insureds who shop around annually are likely to buy a different policy because the odds are good of finding a lower-priced company. A survey found that people who regularly compared rates saved as much as $70 a month compared to policyholders who never compared prices.
If finding the lowest rates on Lexus IS 350 insurance is your ultimate target, then having a good understanding how to get rate quotes and compare insurance rates can make the process more efficient.
If your goal is the lowest price, then the best way to find cheaper quotes for Lexus IS 350 insurance is to start comparing prices regularly from providers who can sell car insurance in Indianapolis. You can shop around by completing these steps.
- First, spend a few minutes and learn about car insurance and the things you can change to lower rates. Many factors that increase rates like traffic citations and poor credit history can be improved by making small lifestyle or driving habit changes.
- Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like Progressive or Allstate, while independent agents can quote prices for a wide range of insurance providers. View insurance agents
- Third, compare the new rates to your current policy premium to see if cheaper IS 350 coverage is available in Indianapolis. If you find a better price and make a switch, make sure coverage is continuous and does not lapse.
- Fourth, provide proper notification to your current company to cancel your current coverage and submit a completed policy application and payment to the newly selected company. Don’t forget to safely store the certificate verifying coverage in your vehicle.
The key thing to know about shopping around is to use identical limits and deductibles on every quote and and to get rate quotes from all possible companies. This guarantees a level playing field and a thorough price selection.
Buying the cheapest insurance in Indianapolis is not rocket science. If you are paying for car insurance now, you stand a good chance to be able to save money using the concepts covered in this article. Drivers just have to understand the quickest way to compare prices instantly.
The companies shown below offer price comparisons in Indianapolis, IN. If multiple providers are shown, we recommend you click on several of them to get the lowest price.
Why car insurance is not optional
Despite the high cost, car insurance is required in Indiana but also provides important benefits.
- The majority of states have mandatory insurance requirements which means it is punishable by state law to not carry a minimum amount of liability protection if you drive a vehicle. In Indiana 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.
- If your vehicle has a lienholder, most lenders will require you to buy full coverage to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your Lexus at a more expensive rate and require you to reimburse them the higher price.
- Insurance safeguards your Lexus and your assets. Insurance will pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you are named as a defendant in an auto accident. If you have damage to your Lexus as the result of the weather or an accident, your car insurance policy will pay to repair the damage.
The benefits of insuring your IS 350 more than offset the price you pay, especially if you ever need it. Despite what companies tell you, the average driver is wasting up to $865 each year so smart consumers compare quotes every year to make sure the price is not too high.
Rates and information analytics
The table displayed next covers a range of insurance rates for Lexus IS 350 models. Learning as much as possible about how auto insurance premiums are figured can help drivers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $144 | $322 | $318 | $18 | $94 | $896 | $75 |
| IS 350 C 2-Dr Convertible | $144 | $322 | $318 | $18 | $94 | $896 | $75 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Estimates do not factor in specific location which can revise premiums greatly.
How high should deductibles be?
One common question asked by Indianapolis drivers is what deductibles to buy. The comparisons below can help you visualize the differences in price between high and low comp and collision deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $304 | $592 | $280 | $16 | $84 | $1,301 | $108 |
| IS 350 C 2-Dr Convertible | $304 | $592 | $280 | $16 | $84 | $1,301 | $108 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 350 4-Dr Sedan | $168 | $312 | $280 | $16 | $84 | $860 | $72 |
| IS 350 C 2-Dr Convertible | $168 | $312 | $280 | $16 | $84 | $860 | $72 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Price information does not factor in zip code location which can influence insurance rates substantially.
Based on the figures above, using a $100 deductible costs an average of $36 more each month or $432 a year than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you average at a minimum 25 months between claim filings, you would come out ahead if you opt for a higher deductible.
The chart below demonstrates how deductible levels and can impact Lexus IS 350 yearly insurance costs for different age groups. The prices are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
Comparison of insurance rates by gender and age
The illustration below shows the comparison of Lexus IS 350 insurance costs for male and female drivers. The price estimates are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are applied.
Rate difference between full and liability-only coverage
The diagram below illustrates the comparison of Lexus IS 350 annual premium costs with and without full coverage. The premium estimates are based on no tickets, no at-fault accidents, $500 deductibles, single marital status, and no discounts are applied to the premium.
Deciding between full coverage and liability only
There is no clear-cut rule for excluding full coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Lexus IS 350 claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after paying your policy deductible. If you are paying more than $700 a year for your policy with full coverage, then you might consider buying liability only.
There are a few situations where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Get cheaper Lexus IS 350 insurance in Indianapolis with discounts
Some companies do not advertise all possible discounts very clearly, so we break down a few of the more well known and the more hidden savings tricks you should be using when you buy Indianapolis car insurance online. If you are not receiving all the discounts you qualify for, it’s possible you qualify for a lower rate.
- Early Signing – Select larger companies give a discount for signing up prior to the expiration date on your current IS 350 insurance policy. It could save around 10% when you buy Indianapolis car insurance online.
- Buy New and Save – Insuring a vehicle that is new can be considerably cheaper due to better safety requirements for new vehicles.
- Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to wear their seat belts can save 10% or more on the premium charged for medical payments and/or PIP.
- Student Driver Training – Cut your cost by having your teen driver enroll and complete driver’s education if offered at their school.
- No Charge for an Accident – This isn’t a discount exactly, but certain companies permit an accident before they charge you more for coverage with the catch being you have to be claim-free for a certain period of time.
Please keep in mind that some credits don’t apply to the whole policy. Most cut the cost of specific coverages such as physical damage coverage or medical payments. So even though you would think having all the discounts means you get insurance for free, companies don’t profit that way.
The example below illustrates the difference between Lexus IS 350 annual premium costs with and without discounts applied to the premium. The rate quotes are based on a female driver, a clean driving record, no at-fault accidents, Indiana state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, claim-free, multi-policy, and marriage discounts applied.
A few companies that have these benefits include:
Before buying, ask all companies you are considering what discounts are available to you. Savings may not apply to policies in your area.
Local Indianapolis insurance agencies and auto insurance
Some consumers prefer to get advice from a local agent and we recommend doing that Good agents are trained to spot inefficiencies and help you file claims. One of the best bonuses of comparing rate quotes online is that you can find cheap rate quotes but still work with a licensed agent.
By using this form (opens in new window), your coverage information is immediately sent to local insurance agents in Indianapolis that can provide free Indianapolis car insurance quotes to get your business. It’s much easier because you don’t need to contact an agency because prices are sent straight to your inbox. If for some reason you want to quote rates from a specific auto insurance provider, don’t hesitate to jump over to their website and submit a quote form there.
Finding the right insurance company requires you to look at more than just a low price. Before buying a policy in Indianapolis, get answers to these questions.
- Will high miles depreciate repair valuations?
- What is their Better Business Bureau rating?
- Can glass claims be handled at your home?
- Are they full-time agents?
- Will they take your side in the event of a claim?
- Is the agency active in community causes in Indianapolis?
- Which company do they place the most coverage with?
- Which members of your family are coverage by the policy?
If you need to find a local Indianapolis insurance agency, it’s helpful to know the different types of agencies that you can choose from. Auto insurance agents are considered either exclusive or independent agents depending on their company appointments. Both write auto insurance policies, but it’s good to learn how they differ because it can impact the type of agent you choose.
Exclusive Agencies
Agents that choose to be exclusive normally can only provide a single company’s rates such as State Farm or Allstate. They usually cannot place coverage with different providers so they have to upsell other benefits. Exclusive agents are highly trained on the products they sell which helps them sell insurance even at higher premiums. Many people purchase coverage from exclusives primarily because of the brand legacy and the convenience of having a single billing for all their coverages.
Shown below is a list of exclusive agencies in Indianapolis that are able to give price quote information.
- Chris Stringer – State Farm Insurance Agent
4875 W 56th St g – Indianapolis, IN 46254 – (317) 803-2241 – View Map - Sarah Holtrup – State Farm Insurance Agent
1480 W Southport Rd c – Indianapolis, IN 46217 – (317) 888-5200 – View Map - Phil Kunkel – State Farm Insurance Agent
5510 S East St d – Indianapolis, IN 46227 – (317) 783-3127 – View Map
Independent Agents
Agents that elect to be independent are not employed by one company and that is an advantage because they can write policies with many different companies and potentially find a lower price. If they quote lower rates, your agent can switch companies and you don’t have to switch agencies.
When comparing rate quotes, you will definitely want to check rates from several independent insurance agents in order to have the best price comparison. Most can insure with smaller companies that may provide cheaper auto insurance rates.
Listed below are Indianapolis independent insurance agencies that can give you price quote information.
- A1 Insurance
4030 S Emerson Ave E – Indianapolis, IN 46203 – (317) 787-4995 – View Map - Gregory and Appel Insurance
1402 N Capitol Ave #400 – Indianapolis, IN 46202 – (317) 634-7491 – View Map - McClain Matthews Insurance
6329 Hollister Dr – Indianapolis, IN 46224 – (317) 298-7500 – View Map
If you get good answers to any questions you have as well as an affordable premium quote, chances are good that you have found an auto insurance agent that can be trusted to insure your vehicles.
Car insurance coverage options for a Lexus IS 350
Understanding the coverages of your policy aids in choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP reimburse you for expenses for pain medications, dental work, funeral costs, rehabilitation expenses and surgery. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Lexus IS 350.
Because many people only purchase the least amount of liability that is required (Indiana limits are 25/50/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things such as theft, rock chips in glass, falling objects and a broken windshield. The highest amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability
Liability coverage provides protection from injuries or damage you cause to other’s property or people by causing an accident. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/10 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property.
Liability coverage pays for claims like funeral expenses, loss of income, bail bonds and legal defense fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible. Indiana state law requires minimum liability limits of 25/50/10 but you should consider buying more liability than the minimum.
The chart below demonstrates why the minimum limit may not provide adequate coverage.
Collision coverage protection
Collision coverage pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as sideswiping another vehicle, damaging your car on a curb and rolling your car. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also increase the deductible on your IS 350 to save money on collision insurance.
One last thing about your coverage
A few companies may not provide the ability to get quotes online and most of the time these small insurance companies only sell coverage through independent agencies. Cheap Lexus IS 350 insurance in Indianapolis is possible from both online companies in addition to local insurance agencies, and you need to comparison shop both in order to have the best chance of saving money.
People leave their current company for a number of reasons such as extreme rates for teen drivers, policy cancellation, an unsatisfactory settlement offer or even policy non-renewal. It doesn’t matter what your reason, finding a new company can be easier than you think.
When searching for inexpensive Indianapolis car insurance quotes, never buy less coverage just to save a little money. In many instances, someone dropped physical damage coverage and learned later that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
Other information
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- How Much are Auto Insurance Quotes for a Nissan Rogue in Indianapolis? (FAQ)
- How Much are Indianapolis Car Insurance Quotes for a School Permit? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Red Light Cameras (State Farm)
- Teen Driver Licensing Information (iihs.org)
- Uninsured Motorist Statistics (Insurance Information Institute)