Insurance rates for IS350?
#1
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Thread Starter
Insurance rates for IS350?
What are you guys paying for insurance? Which company tends to be reasonable with premiums? I am currently insured with State Farm but was wondering if there are cheaper policies out there.
Last edited by Maximus330; 11-03-05 at 10:21 PM.
#2
Lexus Champion
Would like to know similar info? Are your insurance companies finding the new car in their database and if not, what current car do they use to compare it to, rate it?
#4
This is what my experience was. I have been with unitrindirect for 3+ yrs now and I have had my share of cars since then, believe me, more than the average. RX300, IS300, E320, Matrix, BMW330i, FX35, ScionXB and now an E350 and IS350 (darn, I just notice me and my wife has almost the same model number,....duuuh!
Anyway. My insurance for both cars per year is about 1700 to 2000. It got lowered every year and I pay it in full. So from changing my XB to the IS350. My insurance went up $16 for the whole year. So I guess it's not bad right?
Anyway. My insurance for both cars per year is about 1700 to 2000. It got lowered every year and I pay it in full. So from changing my XB to the IS350. My insurance went up $16 for the whole year. So I guess it's not bad right?
#5
Originally Posted by kensteele
Would like to know similar info? Are your insurance companies finding the new car in their database and if not, what current car do they use to compare it to, rate it?
#6
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I just got out of the insurance industry after 7 years and it will likely take a little while for the new IS to show in any of their databases... vehicles are generally assigned a risk rating based on cost new, damageability, crashworthiness, likelihood of theft and vandalism, etc. Since there isn't a lot of info on these figures the company will base the whole thing off of the price. So you can generally expect within the first 1-2 years of a new vehicle for the price to go up or down based on the change once data is in.
As for who is the best company to go with there is no good answer... No one company is far superior for any one vehicle. Every company has a different amount of risk in each area which will in turn change their rates. If I insured 100 people in a town and another agent insures another 100 people the risk is totally different based on all the different driving habits, accident history, etc. even though you're pulling from the same population base.
If the company you look at has horrible rates for you or for that car, look elsewhere. Another company may have a better risk profile for the area. As long as you review the company and they are stable and highly rated I'd say go for it. And I'd usually recommend dealing with a company directly rather than through an independent agent unless the agent is someone you're really comfortable with and know. Not that they are the problem but generally when dealing directly with the company you are getting info more quickly and accurately. Also a direct company is spending less on comissions to agents and usually keeps a stronger profit margin and more consistent premiums.
Ok, I'm done now.
As for who is the best company to go with there is no good answer... No one company is far superior for any one vehicle. Every company has a different amount of risk in each area which will in turn change their rates. If I insured 100 people in a town and another agent insures another 100 people the risk is totally different based on all the different driving habits, accident history, etc. even though you're pulling from the same population base.
If the company you look at has horrible rates for you or for that car, look elsewhere. Another company may have a better risk profile for the area. As long as you review the company and they are stable and highly rated I'd say go for it. And I'd usually recommend dealing with a company directly rather than through an independent agent unless the agent is someone you're really comfortable with and know. Not that they are the problem but generally when dealing directly with the company you are getting info more quickly and accurately. Also a direct company is spending less on comissions to agents and usually keeps a stronger profit margin and more consistent premiums.
Ok, I'm done now.
#7
I got quotes from Geico and State Farm. Both were around $1200 for 6 months for the IS350, but this is because a) I am 25 yrs old, b) I live and park in NYC. They also give you 10% off if you take defensive driving, so I am definitely planning to do that.
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#8
I was quoted $657/ 6 months for Geico and some other isurance company (forget the name) that is associated with American Express. I am 28, live in Chicago and have no points on my record.
EDIT: to add the car was the IS 350.
EDIT: to add the car was the IS 350.
Last edited by ShooExpert; 11-04-05 at 08:49 AM.
#9
Lexus Connoisseur
Historically, the IS300 has had one of the highest insurance premiums due to it being a 4 door "sports" car. I am in the auto insurance industry and parts for the IS300 are not cheap (which is one factor why it costs so much to insure). Expect the New IS to be about the same, especially the IS350 due to it's classification and engine power.
#10
Originally Posted by diablo1
I got quotes from Geico and State Farm. Both were around $1200 for 6 months for the IS350, but this is because a) I am 25 yrs old, b) I live and park in NYC. They also give you 10% off if you take defensive driving, so I am definitely planning to do that.
http://secure.nsc.org/onlinetraining/driving/ddc_pc.cfm
#14
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Thread Starter
Hmm, just got a quote for $715/6 months from State Farm. This is obvious higher than $570/6 months from AMEX. So why is this a dilemma? Well, I am accustomed to State Farm and their policies. They have been a great insurance company for me for the past 10 years. Should I jump ship to AMEX? Btw, the coverages are both comparable, ie $500 deductible for comp and collision, etc.