Is it expensive to insure a Lexus?

Yes, insurance for a Lexus is typically quite pricey. Auto insurance for luxury vehicles is typically higher than for less expensive vehicles. For example, the cost of replacing a bumper on an average Kia is less expensive than the bumper on a $56,000 Lexus GX, which is one factor contributing to this.

We discovered that the average insurance cost for all currently offered models was $387.50 per month, 10% more expensive than a Mercedes-Benz. Toyota owns Lexus, but on average, a Lexus costs nearly $180 more per month to insure than a Toyota-branded car.

Keep reading to compare free Lexus insurance quotes from top companies.

How much is insurance for a Lexus?

The typical yearly cost of auto insurance for a Lexus is about $4,600, or $388 per month. 

Remember that additional factors influence rates. The type of car and its mileage, together with the driver’s age, location, credit history, and driving history, are all variables.

Our average is based on a 40-year-old motorist with solid credit, full coverage car insurance, and a clean driving record. Additionally, this driver logs roughly 13,000 miles yearly. The coverage is a single-car policy, so no multi-vehicle savings are available.

Insurance Rates for Lexus By Model

The least expensive Lexus to insure is the compact SUV Lexus NX — a full-coverage policy typically costs $2,946 per year. On the other hand, the Lexus RX has the highest annual insurance cost of any Lexus, at $7,198.

The model year will also influence how much you pay for Lexus auto insurance, with newer vehicles being more expensive.

Insurance Rates for Lexus By Auto Insurance Company 

State Farm is the cheapest auto insurance company for Lexus drivers, with rates 47% less than average and 73% less than Allstate, the most expensive insurer.

It’s crucial to regularly evaluate your options for car insurance coverage, especially when buying a new vehicle. Whether you intend to stick with your current insurer or find a new one, comparing insurance quotes is the only way to guarantee you’re paying a fair rate for auto insurance.

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How Credit Score Impacts Auto Insurance Rates for Lexus 

Credit has a significant impact on car insurance rates in most states. Hawaii, Michigan, Maryland, California, and Massachusetts are the only states where insurers cannot charge rates based on credit.

To save money on Lexus insurance rates, it might be better for drivers under 25 to join their family’s multi-vehicle coverage because they often don’t have well-established credit. 

Additionally, people can improve their credit over time to reduce their insurance rates. While paying for vehicle insurance on its own doesn’t help your credit, utilizing a credit card to make your regular payments does. Just be careful to pay off your account completely each billing cycle. Learn more about auto insurance and your credit score.

What other factors affect Lexus insurance prices?

There are some other factors that affect your car insurance rates. For example, the cost of Lexus insurance varies according to the age of the driver. 

Younger drivers are more expensive to insure because they lack driving experience and are more likely to cause accidents. By the time they turn 25, risk and insurance rates both drastically decrease up until the age of 60.

The cost of your Lexus car insurance is also influenced by your residence. Rates are higher in Michigan because the state requires higher levels of coverage. You’ll also see your Lexus rates go up if your ZIP code is more prone to traffic accidents or auto thefts. 

Luxury vehicles like Lexus are prime targets for theft. Additionally, more powerful engines are frequently found in more expensive cars, which typically means higher insurance costs. That’s why insurance is higher on a Lexus.

Safety features can lower your insurance rates. Find out if the driver-side and passenger-side air bags, automatic seat belts, anti-lock brakes (ABS), blind-spot detection systems, and lane-departure warning systems in your Lexus car can reduce your insurance premiums.

Some features that haven’t made it to less expensive models, like sensors that detect turns in the road or oncoming traffic, can occasionally offset high insurance costs for cars like Lexus vehicles. Find out if Lexus’s safety rating for midsize luxury SUVs is better than Volvo’s.

Additional Lexus Car Insurance Options

Extra coverage options will raise your average insurance rates but may be useful if you’re looking to purchase a new Lexus. For example, if you lease or finance your Lexus, you might need comprehensive auto insurance and collision insurance in addition to the coverage your state mandates.

To determine which coverage alternatives would be beneficial to have, you might want to take into account your own situation. These extra coverage varieties consist of:

• GAP insurance. If your new Lexus is totaled in a covered accident, GAP insurance will pay the difference between what the car is worth and what you still owe on it. You can be required to get GAP insurance by some lessors.
• Roadside assistance. If you break down on the side of the road, roadside assistance coverage assists with towing, changing a flat tire, and fuel delivery. However, it does not include the price of fuel or tire repair. 
• Replacement coverage. In the event that your car is totaled, new car replacement coverage will pay for the cost of the same or similar make and model of your car.
• Rental car insurance. This coverage pays for a replacement vehicle while yours is being repaired as a result of a claim that is covered.

Even if the Lexus is paid for, you might want to take into account these coverage options to help cover the expenses of repairs for your car in the event of a covered claim.

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What are some ways to lower your Lexus auto insurance costs?

The fact that you own a Lexus does not negate the value of affordable auto insurance. To lower your car insurance rates, take the following actions:

• Don’t drive too far each year.
• Overnight parking should be done safely.
• Don’t file too many claims.

You might also be eligible for further reductions and discounts if your Lexus includes particular features:

• Systems that provide passive restraint, such as air bags and mechanized seatbelts.
• Anti-lock brakes
• Anti-theft tools

It’s not necessary to spend a fortune on insurance just because you drive a luxury car. Find the greatest insurance rates by doing some research, and concentrate on raising your credit score. You may get some of the finest Lexus vehicle insurance prices by following these tips.

A History of The Lexus Brand

The headquarters of Lexus, the high-end division of Toyota Motor Corporation, is located in Nagoya, Japan. Additionally, it has production plants in Torrance, California, and Brussels, Belgium.

Lexus got its start in 1983 as part of Toyota’s “Flagship One” concept. This project aimed to increase Toyota’s fleet size by designing the greatest car possible. One of the original Lexus models was produced as a result. 

The LS 400 and ES 250 sedans were the first two Lexus cars to be sold in the United States in 1989. After a successful launch, Lexus quickly surpassed BMW and Mercedes-Benz in sales and rose to the top among the nation’s imported luxury brands.

It wasn’t until 2005 that Lexus broke away from Toyota and established itself as a distinct brand. From that point forward, Lexus grew its brand internationally and made its debut in Japan as the first Japanese luxury automobile manufacturer.

Since its founding, Lexus has advanced significantly, and the company today has more than 225 dealerships in the country. Its inventory of vehicles includes a range of sedan sizes, including the full-size LS, the midrange ES, and small IS and HS models.

Along with the full-size LX, crossover RX, and NX models, Lexus also produces sports cars and has worked to develop ecologically friendly vehicles since 2006. As a result, several of its best-selling automobiles now come in hybrid form.

Are there any unique Lexus models that stand out?

The LC Hybrid is described by Lexus as “a fundamental shift in hybrid performance.” The certified ultra-low emission vehicle can perform with an aerodynamic drag coefficient of 0.33, a top track speed of 155 mph, and a 0-60 mph acceleration time of 4.7 seconds. 

The starting price for a new Lexus LC is $96,510.

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Dig Deeper To Lower Your Lexus Insurance Costs

Are you overpaying for Lexus insurance? For a majority of individuals, auto insurance is a significant expense, and the cost of luxury auto insurance coverage is rising. If you put in the effort, you can actually reduce your rates. 

How much would it cost to insure a Lexus? The typical yearly cost of auto insurance for a Lexus is about $4,600, or $388 per month. 

However, for the same coverage, Lexus insurance costs will differ greatly among carriers. Get new quotes if you’ve been with your current insurance provider for more than a few years to be sure you’re not overpaying. Shopping around with multiple companies is the only effective way to make sure you’re getting the greatest insurance deal.

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