Best Lexus Car Insurance Quotes (2023)

Luxury auto insurance costs more than coverage for standard vehicles, and Lexus is no exception. However, Lexus auto insurance tends to be more affordable than many other luxury brands, primarily due to its reliability and high safety ratings.

Whether you need full coverage auto insurance or the minimum amount possible, finding affordable coverage for a Lexus can be a challenge. However, there are plenty of ways for Lexus drivers to keep their rates low, including finding discounts, installing security systems, and parking in a safe spot.

Read on to learn where to find the best Lexus car insurance quotes and explore tips to find even cheaper rates. Then, compare rates with as many companies as possible to find the best policy for your needs.

How much is insurance for a Lexus?

As a high-end car, Lexus drivers usually have to pay more for insurance than they would for a standard vehicle. The average driver pays about $162 monthly for full coverage, though rates vary significantly by model.

Luxury cars usually have higher insurance rates because they cost more to repair and replace. Lexus has a reputation for safety and reliability, which helps keep insurance rates down. In fact, Lexus is one of the cheapest luxury models to insure.

Another important aspect of how much you’ll pay for Lexus insurance is your unique situation. Check below to see how much you might pay for Lexus insurance based on your circumstances.

Lexus Car Insurance Rates by Company

The company with the lowest rates for your Lexus depends on several factors, so it’s important to check rates with as many companies as possible.

The overall cheapest company tends to be State Farm. Nationwide is also an affordable option. On the other end of the spectrum, Geico and Progressive are more expensive. However, Allstate is by far the most expensive option for Lexus auto insurance.

Lexus Car Insurance Rates by Model

One of the most important aspects of auto insurance for a Lexus is the model you buy. Auto insurance for a Lexus is always more expensive than for standard vehicles, but coverage is much cheaper for certain models.

As you can see, there is significant variation between models. Some of the cheapest models to insure are Lexus’ lowest-priced models. They also tend to be larger SUVs. But Lexus’ sportiest cars come with the highest rates.

Lexus Car Insurance Rates by Age

Another important aspect of your auto insurance rates is how old you are. Young drivers are more likely to file claims, cause accidents, and drive recklessly. Since auto insurance companies are trying to anticipate how risky people are to insure, young drivers see some of the highest rates.

On top of the generally high prices teens pay, having a luxury sports car makes prices even more expensive.

Young drivers can pay more than four times more for Lexus auto insurance than older adults. While teens pay much higher rates for auto insurance, the gap lessens with age. As long as you keep your driving record clean, your rates will lower around age 25.

Lexus Car Insurance Rates by Credit Score

Many drivers don’t know that their credit score affects their insurance rates, but most states allow companies to use it. Unless you live in Massachusetts, Hawaii, or California, you’ll pay more for auto insurance if you have a lower credit score.

Drivers can pay up to 77% more for auto insurance when they have a low credit score. For example, the average insurance rate for a Lexus GS 350 is $154 when you have a good credit score, but it could be as high as $272 when your credit is low.

Although you’ll pay more for insurance when you have a low credit score, you’re not stuck with high prices forever. If you increase your credit score, your rates will lower.

What factors affect Lexus car insurance rates?

Although it’s a luxury brand, Lexus insurance rates are affected by the same factors as any other brand. Insurance companies use these factors to determine how much of a risk you represent to them financially  — the more likely you are to file a claim or cause an accident, the higher your insurance rates will be.

Whether you buy a brand-new or pre-owned Lexus, the following factors will influence your rates:

• Model of your vehicle: As you saw above, the model you buy significantly impacts your rates. For example, the Lexus ES 350 has some of the lowest rates at $147 a month, while the LX 570 costs nearly $182 a month.
• Age and gender: Age is one of the most important factors in your insurance rates, with young drivers paying some of the highest prices. Gender also plays a role, with men typically paying more than women. However, the price gap lessens with age.
• Marital status: Married people are less likely to file a claim than their single counterparts, so most companies offer a small discount if you’ve tied the knot.
• Location: Insurance companies keep careful track of claim numbers, including how many are filed in each ZIP code. You can see vastly different rates by moving even one ZIP code over.
• Credit score: Companies can use your credit score as part of the basis of your insurance rates, except in California, Massachusetts, and Hawaii. Statistically, drivers with low scores file more claims.
• Driving history: Drivers with traffic incidents like speeding tickets, at-fault accidents, and DUIs pay more for auto insurance. If you have too many incidents on your record, you might need to find car insurance companies for high-risk drivers.

Aside from these factors, the amount of coverage you want to buy will also play a role in your rates. All drivers need to at least meet the minimum insurance requirements in their state, but you’ll probably need more coverage for a new Lexus. Unless you bought the car outright, most loans and leases require full coverage insurance. Full coverage protects your car better but usually costs at least double what minimum insurance does.

What types of car insurance should you buy for a Lexus?

When you’re shopping for auto insurance, the amount of coverage you should buy depends on your needs. For example, drivers with older, less valuable cars that they own outright are usually fine with buying minimum insurance. However, most Lexus owners — especially those buying a new model — usually need more than the bare minimum.

You should understand the basics before you buy a new policy, which includes the following types of coverage:

• Liability: Liability insurance is required in most states and pays for damage you cause to other people and their property. It does not pay for damage to your car or cover your medical bills.
• Collision: If you want help paying for damages to your car after an accident, you need a collision car insurance company. Collision insurance covers at-fault accidents as well as running into a stationary object, like a tree.
• Comprehensive: Comprehensive car insurance companies cover life’s unexpected events, such as fire, floods, extreme weather, theft, vandalism, and animal contact.
• Uninsured/underinsured motorist: While most states require auto insurance before driving, not everyone follows the law. Uninsured motorist car insurance companies protect you from drivers with inadequate coverage.
• Personal injury protection/medical payments: Medical payments and personal injury protection insurance companies cover health care costs after an accident for you and your passengers.

While these are the basic types of coverage, high-end cars like Lexus usually benefit from more insurance. Popular add-ons for Lexus drivers include the following:

• Roadside assistance: Roadside assistance covers emergency services like flat tires, fuel delivery, dead batteries, towing and winching, and locksmith services.
• Gap: Cars lose value relatively quickly, which means you can owe more on your loan than the car is worth. If you total your car while your loan is upside down, gap insurance companies pay the difference.
• New car replacement: Rather than paying for your car’s actual cash value, new car replacement coverage replaces your vehicle with a similar model.
• Rental car reimbursement: If your Lexus is stuck in the shop after a covered incident, your policy will cover your rental car while you wait for repairs.

These are some of the most popular choices for Lexus drivers, but there are many other add-ons to consider. Availability varies by company. If you’re interested in adding coverage to your policy, a representative will know your options.

How can you find affordable car insurance for a Lexus?

Insurance is higher on a Lexus, but that doesn’t mean you have no options to find affordable coverage. To keep your insurance rates as low as possible for a Lexus, consider the following tips:

• Find discounts. Finding car insurance discounts is one of the best ways to save on your policy and should be one of the things you look at when shopping for coverage. A representative will help you find every discount you’re eligible for.
• Park somewhere safe. Insurance companies offer better rates to drivers who park their cars somewhere safe every night. You’ll see lower rates if you park in a secured garage or driveway.
• Sign up for telematics. Usage-based insurance programs track driving habits to offer lower rates. If you regularly practice safe driving habits, you can save up to 40% on your auto insurance.
• Add security. Most auto insurance companies offer a discount on comprehensive coverage if you have security systems in your car, such as audible alarms or GPS tracking.
• Keep your record clean. As you saw above, having marks in your driving record leads to higher rates. You can keep your insurance costs lost by maintaining a clean record.
• Compare rates. While the tips listed above are important, comparing rates from multiple companies is the single best way to find the lowest insurance rates.

Companies use unique formulas when determining rates, which is why comparing rates between companies is essential. Some companies are more forgiving than others for things like speeding tickets or low credit scores. For example, State Farm and Geico are often your cheapest option after getting a speeding ticket, while Nationwide and Farmers have low rates when you have a low credit score.

Lexus: A History

While most drivers recognize the name Lexus, did you know the brand is actually owned by Toyota?

Headquartered in Nagoya, Japan, Lexus also has manufacturing facilities in Brussels, Belgium, and Torrance, California. Toyota has been designing Lexus cars since 1983, but the brand didn’t officially debut until 1989.

The LS 400 and ES 250 were the first Lexus cars on the US market, which quickly outsold BMW and Mercedes-Benz within the first two years of being on the market.

Today, Lexus is sold in over 90 countries worldwide. It enjoys Toyota’s reputation for safety and reliability as well as its own for high-quality luxury. It sells sedans, coupes, SUVs, and convertibles and has focused on developing hybrid models for over a decade.

Find Affordable Lexus Car Insurance Today

Lexus is a high-end luxury car with a reputation for reliability, safety, and all the comforts you expect from an expensive brand. While you can get a new Lexus for about $35,000, it’s easy to spend well over $100,000. These high prices come with higher auto insurance rates, though there are plenty of ways for Lexus drivers to save.

No matter which model you buy, Lexus insurance costs usually run a little high. To find the lowest rates possible, it’s integral that you compare rates with as many companies as possible.