So I've had my new 2020 IS350 F-Sport RWD for two months and finally got my first insurance bill. My rate has tripled over my 2008 IS250. I'm quite shocked. I expected some increase, but nothing that steep. Has anyone else experienced a similar jump with this car? Is it mainly an F-Sport thing? I do notice that is listed on my policy. I have all the good driver discounts, low miles per year, the Lexus SOS applied, etc.- all the same criteria as before and a perfect driving record.

Thanks.

 

wow! how old are you?

 

Could be due to the area you live in? So many factors, but location for me at least, has affected my insurance rate by as much as $300 for every 6 months. Insane!

When I made the switch from my 2004 V6 camry though, my insurance doubled my first year, so IMO, a 3x increase to me seems within the realm of possibility. Especially for a brand new 2020 vehicle.

Maybe try increasing your deductible if thats possible?

 

I will say, my IS was only a little bit more expensive than my Camry was. However, when I got the GTI, my rates fell off a cliff. Definitely was more expensive with the Lexus.

 

Seems like the is is probably more to insure than other cars. Maybe because it keeps its value so well? When I went from a 2018 cla to a 2014 IS my insurance went up by around 30 bucks.

 

I have a '14 IS350 F Sport, the hubby has an '18 GS350 F Sport - his insurance is only $38 more than mine a year. I expected a much bigger difference. I guess it's still expensive to repair early 3IS's.

 

Sounds like a lot, but I dont know I'm all that surprised. The value of your 2020 is much greater.

But I'm surprised they asked for your trim or vehicle package...they never do on any of my cars. But I guess they have the VIN.

Another factor is if you moved, my insurance changed greatly when I moved into the "city" a few years back, then down again when I left.

 

sorry but how did you not know ahead of time about the increase?, my insurance spiked as well going from 2010 IS250 RWD to 2018 IS300 AWD...their claim is that there are too many claims on the car industry wide, ppl racing them

 

That is part of it, body shop wanted 14k CDN for the rear end damage on my 2010 IS250 so my insurance wrote it off and gave me 17k, the damage wasn't more then 6k-8k. Body shops are ripping insurance companies off.
The body shop I took the car to was all excited to repair it as they were the insurance company's preferred shop...they were "shocked" they wrote it off...next time don't be so greedy on the labour costs.

 

Just guessing by OP's user name and "air" in his sig, I am thinking he is on the younger side so maybe that's why his insurance is high? Young + high displacement engine/horsepower. Or maybe an unnoticed changed on record? Maybe just call and ask. Make sure it's not a mistake.

When I was young, my insurance was thru the roof. based on how many young people drive... i understand why. getting caught drafting an EVO @ 150mph and trailed by two CHP cops for over 10 miles was the shock of my driving life. nearly 15 years ago

today my record is triple platinum. not a single blemish since. not even a parking ticket. chalk it up to old man living and 300% less testosterone! someone tries to challenge me today.. knock yourself out. i just turn up my radio

 

I'm in my 40's, so beyond the boy racer stage. Like I mentioned, my record is perfect and the rate for my 2008 IS250 was very good. I was expecting some increase in fee, but not triple. I'm going to call them on my next day off and see what happened.
Thanks for the comments above.

 

If they don't give you a good reason for the massive increase and aren't willing to help you out, it sounds like a great time to shop around.

 

A 2020 IS350 costs much more than an 2008 IS250, so the increase is likely due to the comprehensive and collision coverage. Liability shouldn't be much different - It's the same driver The sportier 350 (compared to the old 250) would also account for some increase in all of the coverages. Your insurance bill should show the cost of each component of coverage. Compare the old and new policies and you'll see where's the difference.

 

Just remembered, when I first got my policy, Geico thought my vehicle was a 250. They later got the correct documentation somehow, and correctly labeled my a car a 350, and along with that, a $200 price increase per 6 months.

Just recently toyed with the idea of upgrading to an ISF, and its another $200-$300 on top of my current policy. Interesting.

 

Shop around. My home insurance double and I noticed my escrow was under funded. I had Liberty Mutual. I called and they would do nothing to lower it. No claims, great credit, good risk. I called Geico and they dropped it by half. The stupid thing here is, my new insurance is Liberty Mutual, underwritten by Geico. Shop it. They probably had too many claims in your area.