Affordable Oakland Lexus IS 350 Insurance

If you want to save the most money, the best way to get affordable Lexus IS 350 insurance is to regularly compare prices from insurers that sell auto insurance in Oakland.

1. Gain an understanding of what coverages are included in your policy and the modifications you can make to prevent expensive coverage. Many risk factors that cause high rates such as at-fault accidents and an unacceptable credit history can be amended by paying attention to minor details.
2. Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from one company like Progressive and State Farm, while independent agents can provide rate quotes for a wide range of companies.
3. Compare the price quotes to your current policy to see if a cheaper rate is available. If you find better rates and make a switch, verify that coverage does not lapse between policies.
4. Provide notification to your current agent or company of your intent to cancel your current policy. Submit a completed policy application and payment to your new company or agent. Make sure you put the proof of insurance certificate in your vehicle.

A good tip to remember is to make sure you’re comparing the same level of coverage on every price quote and and to get rate quotes from as many companies as possible. Doing this guarantees an accurate price comparison and the best price selection.

Astonishing but true, the vast majority of consumers have bought car insurance from the same company for over three years, and approximately 40% of consumers have never compared rates with other companies. California insurance shoppers could save as much as $469 each year, but they underestimate the big savings they would realize if they switched.

When comparison shopping, quoting more increases the chance that you will find more affordable rates. Some regional insurers cannot provide rate quotes online, so it’s recommended that you also compare quotes from them, too.

The auto insurance companies shown below can provide price quotes in California. If you want to find cheap auto insurance in Oakland, we suggest you visit as many as you can in order to get a fair rate comparison.

Rates and other information

The premium table below outlines a range of policy rates for Lexus IS 350 models. Learning how auto insurance policy rates are figured can be useful when making informed coverage decisions.

Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in garaging location in Oakland which can increase or decrease coverage rates substantially.

Rate comparison for different deductibles

When buying insurance, a common question is which comprehensive and collision deductibles to buy. The comparison tables below may help you to understand the rate difference between high and low comp and collision deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second price grid uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Premium costs do not factor in specific location information which can raise or lower prices noticeably.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $21 more each month or $252 every year averaged for all IS 350 models than buying the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to average at least 12 months between claims, you would probably be better off if you choose a higher deductible.

The illustration below highlights how deductible selection and can impact Lexus IS 350 annual premium costs for different age categories. The rates are based on a single male driver, comprehensive and collision coverage, and no discounts are factored in.

Why you need to buy auto insurance

Even though it can be expensive, buying auto insurance may be required and benefits you in several ways.

• Most states have compulsory liability insurance requirements which means the state requires specific limits of liability if you drive a vehicle. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If you have a loan on your Lexus, most lenders will require you to have insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank may insure your Lexus for a lot more money and force you to pay the higher premium.
• Insurance safeguards your Lexus IS 350 and your assets. Insurance will also pay for medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, your policy will pay to restore your vehicle to like-new condition.

The benefits of buying enough insurance greatly outweigh the cost, particularly when you have a large claim. But the average American driver is overpaying over $855 a year so shop around each time the policy renews to ensure rates are inline.

Parts of your auto insurance policy

Learning about specific coverages of your policy can help you determine which coverages you need for your vehicles. Policy terminology can be impossible to understand and coverage can change by endorsement.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your Lexus IS 350.

Since a lot of drivers carry very low liability coverage limits (which is 15/30/5), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently these limits are set the same as your liability limits.

Comprehensive auto coverage – This coverage covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as damage from getting keyed, a tree branch falling on your vehicle and rock chips in glass. The highest amount your auto insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for things like X-ray expenses, ambulance fees and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Collision coverage – This pays to fix your vehicle from damage resulting from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as crashing into a building, scraping a guard rail, sustaining damage from a pot hole, colliding with another moving vehicle and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible on your IS 350 in order to get cheaper collision rates.

Auto liability – This can cover damages or injuries you inflict on a person or their property that is your fault. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 15/30/5 that means you have $15,000 in coverage for each person’s injuries, a limit of $30,000 in injury protection per accident, and a total limit of $5,000 for damage to vehicles and property. Another option is one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like structural damage, bail bonds, medical services, attorney fees and loss of income. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford. California requires minimum liability limits of 15/30/5 but it’s recommended drivers buy more liability than the minimum.

The next chart demonstrates why buying low liability limits may not be high enough to adequately cover claims.