Buy Cheap Lexus Auto Insurance in 2023

If you have a Lexus, you may wonder how expensive it is to insure your vehicle. Unfortunately, Lexus cars are often more expensive to insure than other vehicles. The average cost of a full coverage car insurance policy on a Lexus is $4,650 annually or $388 each month.

The amount you will pay for car insurance for your Lexus varies for several reasons. For example, certain models cost more to cover than others because of repair costs and overall value. Many companies will consider factors like your age, gender, location, driving history, and credit score when determining your car insurance rates.

You should purchase a full coverage policy on your Lexus if possible. Repairs on a Lexus can be expensive, and you don’t want to get stuck paying for them if you’re at fault in an accident or if something like inclement weather or vandalism damages your car.

As you consider specific car insurance companies for coverage on your Lexus, remember to request and compare multiple quotes. Comparing car insurance quotes can help you buy cheap auto insurance for your Lexus.

What is Lexus?

Lexus is Toyota Motor Corporation’s luxury brand of cars. If you purchase a Lexus, the fact that it’s a luxury car is why you’ll pay more for insurance on your vehicle than you would for a less expensive one.

The first Lexus models, the LS 400 and ES 250, were released in 1989. The company’s headquarters are located in Japan, and Lexus is currently the best-selling imported luxury car brand in the United States.

Lexus currently has more than 225 dealerships in the U.S. The company produces several models of vehicles, but its most popular models include:

• ES
• GX
• IS
• LS
• RX

Lexus now focuses on making environmentally-friendly vehicles, making hybrids extremely popular in the current market. Its vehicles also have what the company calls “Lexus musts,” like leather seat stitching and smart key entry. These additional features set Lexus vehicles apart from many others. Find out how much insurance is on a Lexus ES 350.

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How much is insurance for a Lexus?

Lexus insurance rates are typically expensive but often vary for many reasons. When you assess your Lexus insurance costs, you have to consider the type of model you drive, how old your vehicle is, and whether it has any safety features that could help you save money with discounts.

How much is Lexus coverage by model?

The Lexus NX SUV is often the company’s cheapest model to insure. Full coverage on the NX costs around $2,946 annually or $246 per month. Comparatively, the Lexus RX is often the company’s most expensive vehicle model to insure. The RX costs around $7,198 to insure with a full coverage policy annually, which breaks down to around $600 per month. Find out how much insurance is on a Lexus RX 350.

The average cost of a full coverage car insurance policy on a Lexus is $4,650 annually or $388 each month. The average cost for insurance on a Lexus typically sits between the Lexus LX SUV and the LS Sedan for different models.

Depending on the model you drive, you may find that your insurance rates match the average cost for coverage for your Lexus. However, if you pay more than the average cost, you should compare quotes from different insurance companies. When you compare quotes, you may be able to find cheaper coverage with another insurance company.

How much do different companies charge for Lexus auto insurance?

State Farm offers the most affordable car insurance rates for a Lexus on average. Lexus owners pay around $2,426 annually or $202 monthly for a full coverage policy. State Farm’s rates for Lexus car insurance are 47% lower than the average cost of coverage. 

Allstate is the most expensive auto insurance company when it comes to coverage for a Lexus. A full coverage policy on a Lexus will cost around $9,023 annually or $752 per month on average with Allstate. Allstate’s rates are 73% higher than car insurance coverage with State Farm. 

You may pay less for coverage depending on your age, location, driving record, credit score, and other factors. For example, the abovementioned amounts are lower than the national average. Quotes for coverage in this example are for a 30-year-old man living in Texas with a clean driving record.

What type of auto insurance do I need on my Lexus?

You need at least a minimum coverage policy to drive legally in the U.S. Minimum liability car insurance coverage includes bodily injury and property damage liability. Some states require other coverages, like personal injury protection (PIP), medical payments (MedPay), or uninsured/underinsured motorist coverage.

If you drive a Lexus, you should consider purchasing full coverage auto insurance on your car. Full coverage includes collision and comprehensive insurance in addition to a liability policy. 

Collision insurance coverage helps pay for damage to your vehicle if you were at fault in an accident. Comprehensive insurance pays for repairs to your vehicle if something like inclement weather, wild animals, theft, or vandalism damages it.

Individuals with a lease or loan on their Lexus may need full coverage to meet their contract requirements. But even if you own your Lexus outright, you should consider purchasing full coverage to avoid paying out of pocket for repairs to your vehicle if you’re ever in an accident.

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Are there other coverages I need on my Lexus?

In addition to liability, collision, and comprehensive car insurance coverage, there are coverage options called add-ons that many Lexus owners consider when purchasing a car insurance policy. Some of the most common add-on coverages you may want to consider for your Lexus include:

• Gap insurance. It pays the difference between what you owe on your vehicle and your car’s actual cash value if you’re ever in an accident and your car is totaled. Without gap insurance, you would have to pay the remainder of your loan out of pocket.
• Roadside assistance. Roadside assistance offers features like fuel delivery, flat tire repair, lockout services, and towing. Roadside assistance may be helpful if you travel a fair amount in your Lexus. 
• New car replacement. New car replacement pays to replace your vehicle with the same make and model if your car is ever totaled in a covered event. 
• Rental car reimbursement. Your insurance company will reimburse you for the money you spend on rental cars up to a certain amount if your Lexus is in the shop following a covered event.

When you consider the types of auto insurance coverage you want, remember to factor in the loan or lease you have on your vehicle, how often you drive, and whether you have a backup car if yours is in the shop for a while.

How much is Lexus auto insurance for specific models?

Car insurance companies consider several factors when determining your auto insurance rates. If you drive a Lexus, the make and model of your vehicle will matter to your insurance company. Still, other factors will impact your rates as well, such as:

• Age
• Gender
• Marital status
• Location
• Occupation
• Driving history
• Credit score
• Coverage types

If you’re under 30, you may pay more for coverage than a person in their mid-30s. Likewise, if you have bad credit, you’ll likely pay more for car insurance than someone with a good credit score. All of the factors listed above have the potential to impact your rates, and each company considers factors differently when determining how much a policyholder should pay. This is why it’s critical to compare quotes from multiple insurance companies. 

Take a look at some average rates for different demographics with different Lexus models.

• Lexus ES 300h. A good driver pays $2,192 annually or $183 per month. A driver with bad credit pays $3,859 annually or $322 per month.
• Lexus ES 350. A good driver pays $1,938 annually or $162 per month. A driver with bad credit pays $3,412 annually or $284 per month.
• Lexus GS 350. A good driver pays $2,307 annually or $192 per month. A driver with bad credit pays $4,062 annually or $339 per month.
• Lexus GX 460. A good driver pays $1,915 annually or $160 per month. A driver with bad credit pays $3,371 annually or $281 per month.
• Lexus IS 350. A good driver pays $2,242 annually or $187 per month. A driver with bad credit pays $3,948 annually or $329 per month.
• Lexus LX 570. A good driver pays $2,346 annually or $196 per month. A driver with bad credit pays $4,131 annually or $344 per month.
• Lexus NX 300. A good driver pays $1,870 annually or $156 per month. A driver with bad credit pays $3,293 annually or $274 per month.
• Lexus RC F. A good driver pays $3,052 annually or $254 per month. A driver with bad credit pays $5,374 annually or $448 per month.
• Lexus RX 350. A good driver pays $1,814 annually or $151 per month. A driver with bad credit pays $3,194 annually or $266 per month.
• Lexus RX 450h. A good driver pays $1,939 annually or $162 per month. A driver with bad credit pays $3,413 annually or $284 per month.

Depending on the model you drive, you may find that your car insurance rates are higher or lower than the average. For example, average Lexus GS 350 insurance rates may be lower than what you currently pay for your GS 350. If that’s the case, you can check with your insurance company to see if you qualify for any coverage discounts based on safety features or new car discounts. Find out how much insurance is on a Lexus GS 450h.

Again, it’s a good idea to find and compare rates with several car insurance companies before deciding on your Lexus car insurance coverage. Comparing rates will help you avoid paying too much for your car insurance. Here’s how to compare cheap Lexus IS 300 insurance quotes.

Will my credit impact my Lexus auto insurance rates?

In most states in the U.S., your credit has the potential to significantly impact your car insurance rates. Insurance companies see a correlation between poor credit and a higher likelihood of filing a claim. Because of this, insurance companies often charge people higher rates if they have bad credit. 

If you have poor credit, your best bet is to try and improve your credit score. As you do, you should find that your car insurance rates improve. Be mindful of your driving record too, as that’s another common factor that can impact rates. Find cheap auto insurance companies that don’t check credit.

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What other factors impact the cost of insuring a Lexus?

Your age is likely to impact your car insurance costs as well. For example, auto insurance for teenage drivers is often more expensive because of their lack of experience behind the wheel and higher likelihood of filing a claim.

Rates also tend to increase for people over 65 years of age. Still, if you have a good driving record, you may find that certain insurance companies will not allow your age to impact your rates as significantly as others.

Can I lower my Lexus auto insurance rates?

You can ask insurance companies about discounts to lower your auto insurance rates. Additionally, you may be able to lower your rates by increasing your deductible, choosing a lower level of coverage, and limiting the number of claims you make.

Lexus Auto Insurance: The Bottom Line

If you drive a Lexus, coverage for your car will be higher than average. It’s important to purchase proper coverage on your Lexus so you won’t have to pay for repairs out of pocket. Remember that different companies consider different factors when developing your rates, so you may find that some companies are more competitively priced than others.

Compare rates from multiple insurance companies before you make a final decision on coverage for your Lexus. Doing so should help you avoid overpaying for your car insurance.  

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