Cheap Insurance for a Lexus GS 350 in Chicago

Finding the cheapest insurance for a Lexus GS 350 in Illinois could be a lot of work, but you can learn these tips to make it easier.

There are both good and bad ways to shop for auto insurance and we’ll show you the absolute fastest way to price shop coverage for a Lexus and get the lowest possible price either online or from Chicago insurance agents.

It’s hard to believe, but about 70% of customers have bought auto insurance from the same company for well over three years, and just under half have never quoted auto insurance rates at all. Chicago insurance shoppers could pocket approximately 40% a year by just comparing quotes, but most tend to underestimate the actual amount they would save if they changed companies.

The easiest way to compare insurance rates in your area is to understand almost all companies will pay a fee to give free rates quotes. The one thing you need to do is provide details such as any included safety features, level of coverage desired, if you have an active license, and if the car is leased. Your details is instantly sent to all major companies and they provide comparison quotes with very little delay.

To compare affordable Lexus GS 350 insurance rates now, click here and complete the form.

The companies shown below offer free quotes in Illinois. If the list has multiple companies, it’s a good idea that you visit several of them to get the most competitive price.

Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Table data does not factor in zip code location which can impact price quotes substantially.

Comparison of policy deductibles

When buying auto insurance, a common question is how high should your deductibles be. The tables below summarize the premium difference of buying low and high deductibles. The first data table uses a $250 comprehensive and collision deductible and the second data table uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Rate information does not factor in specific Chicago garaging location which can modify coverage rates significantly.

Based on the above data, using a $250 deductible could cost the average driver approximately $26 more each month or $312 for a full year than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you have at least 29 months between claims, you would come out ahead if you opt for a higher deductible.

One important issue to know is that raising deductibles means you will have to pay more when you have a claim. You must have a higher level of savings in order to pay the higher deductible.

Save with these seven discounts on Lexus GS 350 insurance in Chicago

Auto insurance companies don’t list all discounts in a way that’s easy to find, so here is a list some of the best known and also the more inconspicuous credits available to you.

• Accident Waiver – This one is not really a discount per se, but a few companies such as Allstate, State Farm and GEICO permit an accident before raising your premiums if you are claim-free for a certain period of time.
• Sign Online – A few larger companies will provide an incentive shop Chicago auto insurance on their website.
• Seat Belts Save – Drivers who require all occupants to buckle up can save up to 15% off the PIP or medical payment premium.
• Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
• Save with a New Car – Putting insurance coverage on a new GS 350 may earn a small discount compared to insuring an older model.
• Claim Free – Drivers with accident-free driving histories can earn big discounts as compared to drivers with a long claim history.
• Mature Driver Discount – Drivers that qualify as senior citizens may qualify for a small discount on rates.

Discounts lower rates, but most credits do not apply to the entire policy premium. The majority will only reduce individual premiums such as medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, that’s just not realistic.

To choose providers with discount rates in Chicago, follow this link.

Car insurance agents near you

Some people would prefer to have an agent’s advice and that is a smart decision Insurance agents are very good at helping people manage risk and help submit paperwork. One of the best bonuses of comparing insurance prices online is the fact that drivers can get cheap auto insurance quotes but also keep your business local. And providing support for small agencies is definitely important in Chicago.

Once you complete this quick form, the quote information gets sent to local insurance agents who will gladly provide quotes for your business. There is no need to do any legwork since rate quotes are delivered immediately to you. If you need to get a comparison quote from one company in particular, you can always find their quoting web page and complete a quote there.

If you prefer to buy auto insurance from an insurance agent, you need to know there are two types of agencies and how they differ in how they can insure your vehicles. Agents in Chicago are either independent agents or exclusive agents depending on their employer. Either one can insure your vehicles, but it’s important to point out how they differ since it can affect the type of agent you choose.

Independent Insurance Agents

Independent agents are not employed by any specific company and that enables them to quote your coverage amongst many companies and find you cheaper rates. If you are not satisfied with one company, the business is moved internally and that require little work on your part. When comparing auto insurance prices, you definitely need to include price quotes from independent agents for the best price selection. Many independent agencies also insure through smaller mutual companies that can offer cheaper rates than bigger companies.

The following are Chicago independent agents that may be able to give you rate quotes.

• Skyline Insurance Agency, Inc.
  2302 W Belmont Ave – Chicago, IL 60618 – (773) 525-7500 – View Map
• Zeiler Insurance Services, Inc.
  3660 E 106th St – Chicago, IL 60617 – (773) 375-3600 – View Map
• Serpe Insurance Agency
  2538 N Lincoln Ave – Chicago, IL 60614 – (773) 871-0808 – View Map

View more Chicago agents

Exclusive Agencies

Exclusive insurance agents can only provide one company’s prices and examples are Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot compare rates from other companies so it’s a take it or leave it situation. Exclusive agents are trained well on their company’s products which can be an advantage. Many people choose to use an exclusive agent partially due to loyalty to the company and the convenience of having a single billing for all their coverages.

The following are exclusive agents in Chicago that can give you comparison quotes.

• Mark Mackey – State Farm Insurance Agent
  3338 W Foster Ave – Chicago, IL 60625 – (773) 604-4334 – View Map
• John Kim – State Farm Insurance Agent
  5700 N Lincoln Ave #209 – Chicago, IL 60659 – (773) 561-1700 – View Map
• Allstate Insurance: Maribel Marron
  3060 W Armitage Ave – Chicago, IL 60647 – (773) 572-9495 – View Map

View more Chicago agents

Finding the right auto insurance agent requires you to look at more than just the premium amount. These are some valid questions you should ask.

• Is vehicle damage repaired with OEM or aftermarket parts?
• What are their preferred companies if they are an independent agency?
• How long has their agency been open in Chicago?
• Does the agency provide any after hours assistance?
• Do they regularly work with personal auto policies in Chicago?
• What company holds the largest book of business for them?

Here’s why auto insurance is not optional

Even though it’s not necessarily cheap to insure a Lexus in Chicago, buying auto insurance serves a purpose in several ways.

• Almost all states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability in order to license the vehicle. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If your vehicle has a lien holder, almost all lenders will make it a condition of the loan that you carry insurance to guarantee loan repayment. If you let the policy lapse, the bank or lender will purchase a policy for your Lexus at a much higher premium rate and require you to reimburse them a much higher amount than you were paying before.
• Insurance protects your vehicle and your assets. Insurance will pay for medical transport and hospital expenses that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying enough insurance are definitely more than the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer is overpaying over $865 each year so compare rate quotes at every policy renewal to make sure the price is not too high.

Coverages available on your car insurance policy

Knowing the specifics of your policy helps when choosing the best coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive (Other than Collision)

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like falling objects, damage from a tornado or hurricane, a tree branch falling on your vehicle, damage from getting keyed and theft. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical expense insurance

Med pay and PIP coverage provide coverage for bills such as nursing services, EMT expenses and pain medications. They can be utilized in addition to your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Liability insurance

This protects you from damages or injuries you inflict on people or other property that is your fault. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 20/40/15 that means you have a limit of $20,000 per injured person, $40,000 for the entire accident, and a limit of $15,000 paid for damaged property. Occasionally you may see one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage protects against things such as funeral expenses, pain and suffering and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as much as you can afford. Illinois state law requires minimum liability limits of 20/40/15 but you should consider buying more coverage.

Protection from uninsured/underinsured drivers

This provides protection from other drivers when they either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since many Illinois drivers only carry the minimum required liability limits (20/40/15), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually the UM/UIM limits are set the same as your liability limits.

Coverage for collisions

This coverage pays for damage to your GS 350 resulting from a collision with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like sideswiping another vehicle, backing into a parked car, crashing into a building and driving through your garage door. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible on your GS 350 to save money on collision insurance.

Cheaper coverage is out there

Insureds change insurance companies for any number of reasons including extreme rates for teen drivers, not issuing a premium refund, being labeled a high risk driver or even questionable increases in premium. Regardless of your reason, switching car insurance companies can be easier than you think.

Some insurance companies do not offer the ability to get a quote online and these smaller providers sell through independent agents. Lower-priced Lexus GS 350 insurance in Chicago can be found from both online companies in addition to local insurance agencies, so you need to compare both to get a complete price analysis.

As you prepare to switch companies, never skimp on coverage in order to save money. There have been many situations where an insured dropped comprehensive coverage or liability limits and learned later that it was a big mistake. Your goal is to get the best coverage possible for the lowest price, but don’t skip important coverages to save money.

More detailed car insurance information is available in these articles:

• Young Drivers: The High Risk Years Video (iihs.org)
• Who Has Cheap Car Insurance Quotes for 18 Year Olds in Chicago? (FAQ)
• Who Has Cheap Chicago Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
• Who Has Affordable Chicago Car Insurance Rates for a Toyota Corolla? (FAQ)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
• Collision Coverage (Liberty Mutual)