Best Insurance for a Lexus IS 250 in Indianapolis

A recent auto insurance study discovered that the vast majority of consumers have bought auto insurance from the same company for more than four years, and nearly 40% of drivers have never compared auto insurance rates at all. With the average premium in Indiana being $1,389, drivers can save 55% each year, but they don’t invest the time required to find affordable auto insurance rates.

Discount Lexus IS 250 insuranceIf you want to save the most money, the best way to get low-cost car insurance rates in Indianapolis is to compare prices at least once a year from insurers who sell insurance in Indiana.

  1. Read about car insurance and the measures you can take to keep rates in check. Many factors that are responsible for high rates such as speeding tickets, careless driving and a lousy credit rating can be eliminated by making lifestyle changes or driving safer. Later in this article we will cover tips to help prevent high rates and find hidden discounts.
  2. Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from one company like Progressive and State Farm, while independent agents can give you price quotes for a wide range of companies. Get quotes now
  3. Compare the new rate quotes to your existing coverage to see if switching to a new carrier will save money. If you can save some money and make a switch, ensure there is no coverage lapse between policies.
  4. Provide notification to your current agent or company of your decision to cancel your current auto insurance policy and submit a completed policy application and payment to the newly selected company. Once the application is submitted, keep your new certificate verifying proof of insurance in your vehicle.

A key point to remember is to make sure you’re comparing similar coverage information on each quote request and and to get price estimates from all possible companies. Doing this ensures a fair rate comparison and and a good selection of different prices.

It’s important to know that quoting more helps you find better pricing. Not every company provides online Indianapolis IS 250 insurance quotes, so you should also compare price estimates from them as well.

The companies shown below can provide comparison quotes in Indianapolis, IN. If the list has multiple companies, it’s a good idea that you get price quotes from several of them in order to get a fair rate comparison.

Rates and detailed analysis

The rate table displayed next highlights detailed analysis of coverage prices for Lexus IS 250 models. Being able to understand how insurance quotes are calculated is important to be able to make decisions when shopping your coverage around.

Lexus IS 250 Insurance Rates in Indianapolis, IN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 250 4-Dr Sedan $152 $312 $238 $14 $72 $788 $66
IS 250 AWD 4-Dr $168 $312 $238 $14 $72 $804 $67
IS 250 C 2-Dr Convertible $168 $312 $280 $16 $84 $860 $72
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Price estimates do not factor in the specific area where the vehicle is garaged which can impact coverage rates greatly.

Auto insurance deductibles

One of the hardest decisions when shopping for auto insurance is the level to set your comp and collision deductibles. The following tables may help you to understand the premium difference when you select higher and lower physical damage deductibles. The first rate table uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.

Lexus IS 250 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 250 4-Dr Sedan $244 $496 $238 $14 $72 $1,089 $91
IS 250 AWD 4-Dr $272 $496 $238 $14 $72 $1,117 $93
IS 250 C 2-Dr Convertible $272 $496 $280 $16 $84 $1,173 $98
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Lexus IS 250 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
IS 250 4-Dr Sedan $152 $312 $238 $14 $72 $788 $66
IS 250 AWD 4-Dr $168 $312 $238 $14 $72 $804 $67
IS 250 C 2-Dr Convertible $168 $312 $280 $16 $84 $860 $72
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Table data does not factor in your specific Indianapolis location which can modify rates significantly.

Based on these figures, using a $250 deductible will cost you approximately $26 more each month or $312 annually than requesting the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally average more than 29 months between claim filings, you would come out ahead if you choose a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $94
Average monthly premium for $1,000 deductibles (subtract): – $68
Monthly savings from raising deductible: $26
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 29 months

The illustration below illustrates how choosing a deductible and can affect Lexus IS 250 annual premium costs for each different age category. The costs are based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.

Violations and accidents raise rates

The example below illustrates how traffic citations and accident claims can affect Lexus IS 250 insurance rates for different insured age categories. The data is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are factored in.

Lexus IS 250 insurance premiums by gender

The information below shows the difference between Lexus IS 250 car insurance rates for male and female drivers. The costs are based on no driving violations, no at-fault accidents, comp and collision included, $500 deductibles, marital status is single, and no additional discounts are factored in.

Cost difference between full coverage and liability

The diagram below shows the difference between Lexus IS 250 annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no claims or driving violations, $250 deductibles, drivers are single, and no discounts are taken into consideration.

Guidelines for dropping full coverage

There is no definitive rule to drop physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Lexus IS 250 claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying the physical damage deductible. If you are paying more than $300 annually for your policy with full coverage, then you might consider buying liability only.

There are a few situations where dropping full coverage is not financially feasible. If you still have a lienholder on your title, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.

Decisions You Make Can Impact Your Insurance Prices

Many different elements are taken into consideration when pricing auto insurance. Some are pretty understandable such as your driving record, although others are more obscure such as your marital status or how safe your car is.

City traffic equals higher premiums – Living in small towns and rural areas is a positive aspect when it comes to auto insurance. Residents of big cities have more auto accidents and longer commute times. Fewer drivers means reduced accidents.

Save money by eliminating add-on coverages – There are a ton of optional add-on coverages you can purchase when buying auto insurance. Insurance for things like vanishing deductibles, high-cost glass coverage, and membership fees may not be needed and are just wasting money. You may think they are a good idea when discussing your needs, but if you have no use for them get rid of them and save.

Consolidate and save – Many auto insurance companies allow a discount to insureds that purchase more than one policy in the form of a multi-policy discount. If you currently are using one company, drivers will still want to get quotes from other companies to confirm you are receiving the best rates possible.

Do you work long hours in a stressful occupation? – Did you know that where you work can have an impact on rates? Jobs like doctors, airline pilots, and emergency personnel have the highest rates attributed to intense work requirements and extremely grueling work hours. On the flip side, jobs such as actors, engineers and the unemployed receive lower rates.

Lower prices with alarms and GPS tracking – Choosing a vehicle with a theft deterrent system can save you a little every year. Anti-theft devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your car from being stolen.

Drive less and get lower rates – The more miles you rack up on your Lexus in a year the more you’ll pay to insure your vehicle. Almost all companies calculate prices determined by how the vehicle is used. Cars left parked in the garage can get a lower rate than those used for commuting. Incorrect rating for your IS 250 is throwing money out the window. It’s a smart idea to ensure your auto insurance coverage properly reflects the correct driver usage, because improper ratings can cost you money.

Your spouse saves you money – Being married may save some money on your auto insurance policy. Having a spouse demonstrates that you tend to be more mature and statistics prove married couples file fewer claims.

Lexus IS 250 insurance loss probability – Insurance companies use past insurance losses to calculate a price that offsets possible losses. Models that are shown to have higher losses will have higher rates. The information below illustrates the historical insurance loss data for Lexus IS 250 vehicles.

For each coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, is represented as 100. Numbers under 100 imply a favorable loss record, while percentages above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.

Insurance Loss Ratings for Lexus IS 250 Vehicles
Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lexus IS 250 4dr 2WD 179 103 177 116 146 115
Lexus IS 250 4dr 4WD 177 87 186 118
Lexus IS 250 Convertible 135 80 84

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

Why you need Lexus IS 250 insurance in Indiana

Even though it’s not necessarily cheap to insure a Lexus in Indianapolis, paying for insurance is not optional due to several reasons.

The benefits of insuring your IS 250 greatly outweigh the cost, especially when you need to use it. An average driver in America overpays as much as $869 every year so it’s important to compare rates at least once a year to ensure rates are inline.