airchomper

Howdy,

I've been thinking about selling my car for something cheaper, and just playing around with insurance quotes from Geico (I'm a <25 year old unmarried male without traffic citations) and I noticed that nearly every single car I was interested in had more expensive insurance.

A 2005 Prius would be more expensive, a 2001 Camry would be more expensive, and of course a Honda Civic Si and Subaru BRZ would be more expensive. The only vehicle I found that was cheaper to insure was a Toyota Sequoia (too bad I hate paying for gas, thusly hate SUVs)

So I was curious what others' experiences are finding insurance for the LS430? Was your insurance unexpectedly cheap?

tcr101

iTrader: (2)

26 year old asian male in california with multiple speeding tickets.. pay around 2600 a year with AAA

takimanpgt

No - it was age, zip, risk appropriate. The vehicle isn't classified as high volume hence high risk due to commonly driven - like the Camry that is widely commuted in and hence classified as highly probable to be in an accident.

Lavrishevo

iTrader: (1)

I'm 36 and I pay about $1100 a year for full coverage 100,000/300,000 - 500 deductible and a bunch of other coverages / no tickets or accidents. USAA is a fantastic insurer if you qualify. Progressive was the closest but around $400 more a year. Geico is not particularly competitive, at least in my area / age.

fensterlip

I'm an insurance broker and use Liberty Mutual I buy on the open market because their rates are good as well as excellent service.
Insurance rates are based on the car, the driver and your locale. Can't change your age or the locale but the car is variable. Generally the LS is good because few people drive them like hot rods. Camry's are more variable since they can be a "cheap" car for the "younger" and the "crazier". USAA has good service and thy're fairly forgiving but their rates aren't the best. Geico is a mid-range choice. AAA is a good second choice.

warminwisc

Mine was pretty darn reasonable yes.

airchomper

I guess I was just curious whether the LS was a uniquely cheap car to insure.

I certainly understand the parameters that go into insurance pricing - I have a degree in Statistics and many of my former classmates are now actuaries - but I thought it was interesting that a camry costs more to insure, and my hypothesis is that the LS430 is a safer car that's driven more conservatively, to the point that it's a lower insurance risk although it costs so much more to repair and is so much faster.


I definitely shopped around for my insurance, Geico was way less expensive than everyone else. But this has inspired me to keep shopping. Just as a point of reference, I pay $722/year for insurance right now, with a $2000 deductible and higher-than-mandated-minimums on everything else.

ZanderZ32

iTrader: (2)

Pay $1600 year State Farm Florida, full coverage with comprehensive on the LS and my 300x twin turbo.

No tickets 22 year old male student.

My previous daily driver was a 2009 Mazdaspeed3 that was $400 a year more expensive, I imagine because its a high risk car. I can attest to the dumb amount of torque steer too

Lavrishevo

iTrader: (1)

That's interesting what you say about USAA rates. In my experience, they beat everyone by a lot. Or at least everyone I spoke with. About 8 or 10 major insurers. Not only were the prices better but they offered certain coverages that others did not even offer. Progressive, also a broker, was the closest with less coverages. There is a reason why USAA is rated one of the best credit unions out there. If you or family memers have served really do recommend them. Amica is also highly rated. Don't think I tried Amica. Did not know about them at the time. Liberty Mutual is rated with the worst.

From the Clark Howard website.

warminwisc

I am paying just south of 600 bucks a year for 500 deductible 500k max. My highlander and toureg where 20 percent more

Lavrishevo

iTrader: (1)

One thing to consider is that if you have multiple cars and / or your house insurance through the same company you will get additional discounts vs just a single car policy.

I just jumped on Amica's website to get a quote... OMG. $2800 a year vs my $1100 with USAA. Wow. Makes me appreciate my insurance company all the more.

BradTank

Usually it's a good idea to go with the highest deductible that's not going to "break you" financially if you get in an accident.

If you can go with a $1,000 deductible instead of $500 deductible and save $500 a year on your car insurance, you can put those savings aside and keep going with the higher deductible year after year. You just have to compare and contrast and see if it makes sense.

Accidents are pretty rare (hopefully) and if you get in an accident that's your fault, I feel like an extra $500 out of my pocket is a pretty small amount in the scheme of things. I'd rather take the savings on my premiums. I also do the same with my health insurance.

Also, always compare insurance rates, my wife went with Geico and her bill got nearly cut in half for the same insurance.

Lavrishevo

iTrader: (1)

You know I tried that and the difference for me between a $1000 and $500 deductible was $7 a month. I guess this varies between insurance companies.

1WILLY1

iTrader: (9)

my 430 is more expensive to insure then my C5 vette, almost double actually, both are around the same age.

aypues

I pay about $1200/yr for my 2004 LS. I'm 36 and it has a $250 deductible which I have used a few times over the years under the comprehensive coverage...

I took my car in for service at Lexus last year and had a 2014 ES350 loaner. Was minding my own business merging onto the freeway and a rock from a huge truck broke the windshield...luckily I took pictures of the truck and I tracked it back to a rock company!!! State Farm went after them for the subrogation so I didn't have to pay the $250 deductible. Since the loaner was within 2 years of manufacture date they had to go with OEM glass which was a $2000 bill.