I currently own a 2007 Toyota Camry and am looking into buying a CPO 2006 Lexus IS350. I love the car and love the numbers as far as payment per month are coming out. I test drove the car yesterday and did some quick numbers with the guy about half hour before they closed, so obviously we didn't finish the deal. I am due to go back in today to get paperwork rolling, but I'm afraid. I checked to see how much my insurance would go up and I was shocked. It will be going up $100 a month! I couldn't believe it. My insurance company is Progressive. I checked to see how much insurance would be if I were buying a BMW 335, Audi A4, Subaru Imprenza WRX (practically a race-car), Acura, and NONE of these cars come close to such a rate hike as the Lexus.

Does anyone have any suggestions for me or comments? Why is insurance so expensive on a Lexus? It sucks, because I love this car and can deal with the higher payments, but I don't want to deal with shelling out an extra $100 a month for insurance.

Thanks for letting me vent

 

Shop it around. I would go see an "agent" to go over rates. Progressive may just not be the best for you on this car. I am not a big fan of these internet companies anyway. just don't take any short cuts on insurance to have a car. make sure you are properly covered!!!

 

Does anyone here use AIGDirect? They seem to be coming out with a much better quote. I just want to see people's experience with them (rate changes, etc.)

P.S. I have never been in a car accident or have gotten a speeding ticket. Only bad thing is that I'm 23 and got my liscence at 18 (so I've only been driving for 5 years).

Thanks

 

are you doing this online???

just curious what or how you are coming up with the appropriate coverages? I would go see someone today or tomorrow. If all you can do is over the phone to get started that is fine but its in your best interest to go see someone and even a few people to go over where you are in your life and what will protect you if there ever is that unfortunate situation.

you have a clean driving record and are close to the 24/25 break. Is Country Financial available in your area? If so I suggest you take advantage of the process they offer to get an evaluation at not cost you other then your time. Country reduces your rate not at an age but as you get older and prove to have a clean record. I say its worth checking them out.

This is what I do now for a living so this is my professional advice to you. Please don't buy on rate as that will only get you so far.

 

Using progressive I kept the same coverages and my insurance only went up $350 over 6 months (I have 2 speeding tickets), I'm surprised they are quoting you so high, are you doing the pay in full plan?

 

Males under 25 yrs old always have higher insurance rates. The Lexus is particularly high because they are so expensive to fix. Did you get a quote on a 250? Should be a good chunk less.

Keep in mind it's not an exact quote. My original quote was about a $50 increase but when I got the bill it turned out to be less than $30 more a month.

 

Did you actually talk to an insurance agent about the cars? If you do one of those online things, they are so inaccurate. When I played around with one of those I was expecting my yearly payment to be 3500ish but it ended up to be 4800

 

Your best bet for getting a qoute is calling them over the phone. I have Geico for my motorcycle insurance and use to have progressive for my car and truck. My insurance was up in June with Progressive anyways so I called Geico to get a qoute for my Lex. My insurance for my car and truck went down $50 a month from Progressive's old coverage and I had a 2006 Chevy Cobalt and a 2002 Chevy Silverado with less coverage when I was with Progressive. I've had Geico for over 2 years for my bike and they have been outstanding with customer support. Internet qoutes won't get you the best deal but more of a ball park estimate. Give a few companies a call to see what Real deals they can provide you.

 

+100

again if you want to do this the right way go see an insurance agent. this over the phone and internet stuff is so wrong. they have no clue what "you" need. if you want to have the same coverage as the guy/gal next to you and have lower premiums then go for this over the phone and online stuff.

 

I would give USAA a try, I was with progressive and paying $220 a month for full coverage on two cars and they said they rates were actually going up when I turn 25. I called USAA and switch immediately and it was only $90 a month with better coverage. When I bought the Lexus IS250 it dropped to $80 a month (I have my car loan through them with gap protection and I don't have any wrecks or tickets though.)

It's a great company if you can get on with them. You usually have to have been in the military or be related to someone who has, but it's well worth a try.

www.USAA.com
1-800-531-8111

 

Same thing happened to me. Went from an A4 to the IS and mine jumped way up. Was quite shocked, thinking the German A4 would be more expensive to fix. I have 21 Century, a perfect record, and I'm over 30 years old.

 

What are your coverage limits? I pay more than you and I'm 10 years older with a clean record.

 

there are many more variables than age and clean record... such as your area...

 

His coverages has nothing to do with you!!!! Just because that is what that person has doesn't meant ***** to you or me. To many other things factor into this....we also have no CLUE if this person has the appropriate coverages!! "or" what their personal financial situations are....

Here is what I would suggest to think about:

1. Do you own your own home or rent?
2. Do you have a family to support in some way?
....a) would your family be financially affected if you didnt come home today?
3. What assets do you need to protect?
4. What are your state laws...


If someone has 20/40 for there coverage will that work for you? If someone has 100/300 and says they have "FULL" coverage is that going to work for you??

Again I cant emphasize the importance to go sit with someone and take the maybe 30 min to have peace of mind that you are covered regardless who is at fault

 

Geez guys, I know all that. But asking his coverage limits is a good place to start. I've got 100/300, so if he had less than that I wouldn't even think about it any further. I was just curious because I was shopping around lately, but had trouble finding a place that beats Farmers. Yet I constantly read about people with better rates on this board. I do live in Vegas, which I'm guessing has higher than average rates.