How Much Does It Cost to Insure a Lexus IS300?

The Lexus IS300 is a sporty, luxury sedan that offers an enjoyable driving experience along with the renowned Toyota reliability. But how much does it cost to insure this vehicle?

Average Insurance Costs for a Lexus IS300

On average, you can expect to pay around $1,782 per year to insure a Lexus IS300. This is about $150 per month for a full coverage policy.

Here’s a breakdown of average annual rates by major insurance company:

• State Farm – $1,650
• Geico – $1,700
• Progressive – $1,850
• Allstate – $1,900
• Nationwide – $2,000

Of course, your actual rates will depend on factors like your age, driving record, location and more. But in general, insuring an IS300 costs about $225 more per year than the average vehicle.

What Impacts Insurance Costs for an IS300?

Several things can cause insurance prices for an IS300 to be higher or lower:

Age of the Driver

Younger drivers tend to pay more for insurance because they are statistically more likely to get into accidents. Here’s how age impacts IS300 insurance costs:

• Teen drivers: $4,000-$8,000 per year
• 20 years old: $2,500-$4,000 per year
• 30 years old: $1,500-$2,500 per year
• 40+ years old: $1,200-$2,000 per year

So as you get older and gain more experience behind the wheel, expect to pay less for insurance on an IS300.

Driving Record

Having past violations like speeding tickets, at-fault accidents and DUIs will increase your insurance rates. A clean driving history can save you 20% or more on your premiums.

Location

Where you live plays a big role in insurance costs. If you live in an urban area with high rates of accidents and theft, you’ll pay more than in a small town. And insurance rates can vary wildly between states.

Credit Score

Most insurers use your credit-based insurance score when setting rates. Maintaining a good credit score can help lower your premiums.

Mileage

The more you drive, the more risk you take on the road. So insurers charge more for policies with higher annual mileage.

Coverage Limits

Lower liability coverage limits or higher deductibles can reduce your premiums, but leave you more exposed financially in the event of an accident.

Tips for Saving on IS300 Insurance

Here are some smart ways to get cheaper rates on your Lexus IS300 policy:

Bundle with home insurance – Most insurers offer a discount for bundling multiple policies together.

Raise your deductible – Opting for a $500 or $1,000 deductible can reduce premiums substantially.

Ask about discounts – Make sure to inquire about any discounts for safety features, good student, military, etc.

Improve your credit – Insurance scores are heavily influenced by payment history and overall credit health.

Shop rates – Compare quotes from at least 3-4 insurers to find the best deal. Rates can vary by hundreds per year between companies.

Maintain a clean record – Drive safely and avoid accidents, tickets and claims to lock in lower premiums.

Reduce mileage – Choosing a low mileage policy if you don’t drive much can save you money.

Drop collision/comprehensive – You can usually omit these optional coverages on older vehicles to reduce costs.

How Does IS300 Insurance Compare to Other Luxury Sedans?

The IS300 is one of the more affordable luxury sedans to insure. Here’s how it stacks up to some other popular models in terms of average annual premiums:

• Lexus IS300: $1,782
• BMW 3 Series: $2,200
• Mercedes C-Class: $2,400
• Infiniti G35: $2,500
• Audi A4: $2,800
• Cadillac ATS: $2,900

So you can see that the IS300 is $200-$1,100 cheaper per year to insure than comparable luxury sedans. This can add up to significant savings over time.

The main reasons the IS300 tends to be less expensive is that it has lower claim frequency and better safety scores than some competitors. It’s also viewed as a more practical sedan versus high-performance rivals.

How Else Does the IS300 Impact Insurance Costs?

Beyond the factors already discussed, here are some other IS300-specific things that affect your rates:

• Body style – The sedan body is cheaper to insure than the coupe or convertible models.
• Performance – The high-powered IS300 models like the IS350 have higher premiums than the base IS250.
• Safety ratings – Good crash test results help lower rates compared to cars with poorer ratings.
• Repair costs – Using more expensive, luxury-grade parts drives up the insurer’s potential costs.
• Theft risk – Luxury vehicles have higher instances of theft, leading to pricier comprehensive coverage.

While the IS300 is still reasonably priced for a luxury car, these factors do make it cost more than an average economy car or family sedan. But that’s the tradeoff for enjoying a more upscale vehicle.

How to Get the Lowest IS300 Insurance Rates

If you want to find the cheapest IS300 insurance, here are some tips:

• Get quotes from about 5-6 carriers for comparison
• Ask each insurer about all possible discounts
• Take a defensive driving course for a premium reduction
• Set higher deductibles if you can afford the out-of-pocket risk
• Limit your policy to liability only if the IS300 is older or paid off
• Inquire about usage-based programs to potentially save based on driving habits
• Consider dropping comprehensive and/or collision coverage if the car’s value is low
• Ask about any discounts for paying annually instead of monthly/quarterly
• Maintain a good credit score and clean driving record for the optimal rates

Using an online insurance quote comparison tool makes it fast and easy to compare multiple companies’ rates side-by-side. This can help ensure you’re getting the absolute lowest price available.

The Bottom Line

A Lexus IS300 costs approximately $1,782 a year or $150 a month to insure on average. This is pricier than insuring an average sedan, but very affordable for a luxury sports model. There are many factors that cause IS300 insurance rates to fluctuate above or below these averages.

The best way to find cheap IS300 insurance is to compare quotes from multiple top insurers. Maintaining a clean record and good credit also helps lower your premiums. With some smart shopping, you can lock in a competitive rate and enjoy the thrills of the IS300 without breaking the bank on car insurance.