Cheap Lexus Auto Insurance in 2024 (Unlock Big Savings From These 10 Companies!)

The top three companies for cheap Lexus auto insurance are Erie, Safeco, and State Farm, with rates as low as $22/month depending on what you need in terms of coverage. Lexus auto insurance is typically quite pricey. Auto insurance for luxury vehicles is typically higher than for less expensive vehicles. For example, replacing a bumper on an average Kia is less expensive than the bumper on a $56,000 Lexus GX.

Read more: KIA Auto Insurance

On average, you’ll pay $164 monthly for Lexus auto insurance. Toyota owns Lexus, but on average, a Lexus costs $25 more per month to insure than a Toyota-branded car.

Our Top 10 Company Picks: Cheap Lexus Auto Insurance

Keep reading to compare free Lexus insurance quotes from top companies, learn tips to lower insurance costs for Lexus vehicles, and find the best insurance options for Lexus vehicles. Stop overpaying for auto insurance. Enter your ZIP code above to find out if you can get a better deal.

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#1 – Erie: Top Overall Pick

Pros

• Full Coverage Auto Insurance: Erie offers collision, comprehensive, and personal injury protection.
• Add-Ons: You can also purchase better car replacement and rental car insurance. Learn more with our Erie auto insurance review.
• Erie Auto Plus: Waived deductibles, diminishing deductible, and increased coverage limits.

Cons

• Availability: Auto insurance not available in all 50 states.
• Customer Complaints: Erie does have some unsatisfied drivers.

#2 – Safeco: Cheapest for Drivers with a Ticket

Pros

• Financial Stability: Safeco has an A+ rating with A.M. Best. Learn more with our Safeco auto insurance review.
• Bundling Opportunity: You can also purchase motorcycle, boat, classic car, and off-road vehicle coverage.
• Best Post-Ticket Rates: Low rates offered even after a driver incurs a traffic ticket.

Cons

• Online Quotes Not Available: You must speak directly with an agent to receive a quote.
• Claim Handling: Drivers report long wait times and poor communication.

#3 – State Farm: Cheapest for Minimum Coverage Policies

Pros

• Medical Payments Coverage: Provides financial aid after an accident, goes towards healthcare.
• Add-Ons Available: Travel expense coverage, rental car reimbursement, and rideshare insurance offered.
• Affordable Minimum Coverage: Rates for minimum coverage auto insurance ranges around $31-43/month.
• Drive Safe and Save: Drivers can save up to 50% off auto insurance based on driving habits. Learn more with our State Farm auto insurance review.

Cons

• Age Restriction on Steer Clear Program: Only availably to drivers under 25 years.
• Poor Credit, High Rates: Drivers with poor credit will see higher rates than the national average.

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#4 – Travelers:  Cheapest for High Risk Drivers

Pros

• Non-Owner Auto Insurance: Helpful if you don’t own a vehicle but borrow one often.
• SR-22 Auto Insurance: Sometimes needed when a driver is high risk. Read more with our Travelers auto insurance review.
• Discount Options: Over a dozen offered, including one for signing up with Travelers before your current policy expires.

Cons

• IntelliDrive Program: Based off driver habits, it can actually raise rates.
• Rideshare Availability: You can only get rideshare in two states.

#5 – Progressive: Cheapest for Modified Cars

Pros

• Progressive App: Drivers can make payments, access policy documents, and download insurance cards.
• Custom Parts & Equipment: Provides coverage for car add-ons like radios, new paint, and updated GPS systems.
• Progressive Snapshot: Offers a discount to safe drivers. You can read more with our Progressive auto insurance review.

Cons

• High Rates After Accidents: Rates can increase almost $100.
• Teens Pay More: Young drivers pay more than the national average.

#6 – American Family: Cheapest for Teen Drivers

Pros

• Affordable High Risk Coverage: Rates are lower than the national average for drivers with infractions.
• Property Damage Liability Coverage: Helps pay for damage done to another person’s property such as a fence or sign.
• Policy Pricing: Teen drivers also pay less with American Family, around 21% lower than the national average. You can learn more with our American Family auto insurance review.

Cons

• Poor Claim Handling: Drivers report long wait times.
• Availability: Auto insurance only available in 19 states.

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#7 – Nationwide: Cheapest for Drivers with Poor Credit

Pros

• Variety of Coverage and Discounts: Over a dozen policy options and discounts available.
• Financial Stability: Nationwide has an A+ rating with A.M. Best. Learn more with our Nationwide auto insurance reviews.
• Affordable with Poor Credit: Drivers will not see higher than average rates based off credit score.

Cons

• High Rates After DUI: Drivers with a single DUI will see higher than average rates.
• Claim Handling: Drivers report poor claim handling and customer service during the process.

#8 – Farmers: Cheapest with Driving Program

Pros

• Claim Handling: Claims can be processed online, through the app, or with an agent.
• Farmers App: You can get quotes, report claims, and request roadside assistance.
• Liability Auto Insurance: Covers damage caused by your vehicle in an accident.
• Signal Discount: This usage-based program offers a discount up to 20% on auto insurance, with an immediate 5% for signing up. Learn more with our Farmers auto insurance review.

Cons

• Expensive Policies: Rates are higher than the national average.
• Rental Coverage Exclusions: Farmers only covers rental cars while your car is in the shop.

#9 – Allstate: Cheapest with Discounts

Pros

• Claim Satisfaction Guarantee: Offers a portion of your money back for a claim if you think the settlement is too low.
• Vehicle Based Discounts: You can save money for safety features on your car, including anti-theft devices and if it’s a green vehicle.
• Reward Program: You can get perks including safe driving bonuses and deductible rewards. Learn more with our Allstate auto insurance review.

Cons

• Low Customer Service Ratings: Drivers report wait times and misinformation.
• High Rates: Allstate has some of the most expensive policies compared to the national average.

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#10 – Liberty Mutual: Cheapest for Older Drivers

Pros

• RightTrack Program: Offers up to 15% discount on auto insurance. Learn more with our Liberty Mutual auto insurance review.
• Original Parts Replacement: You won’t have aftermarket parts used on your vehicle.
• Bundling Option: You can bundle homeowners, renters, RV, pet, and other insurances with your auto coverage.

Cons

• Young Drivers Pay More: Teen drivers between 16-18 years old have higher than national average rates.
• Poor Credit, High Rates: Rates nearly triple when you have poor credit.

 

Average Lexus Auto Insurance Rates

The average Lexus auto insurance rates are about $164 per month, though you can follow several tips to find cheap auto insurance for a Lexus.

Lexus Auto Insurance Monthly Rates by Coverage Level & Provider

There are several factors that influence Lexus insurance prices, including the model, annual mileage, driver age, location, credit history, driving history, and coverage type. For example, if you only need liability auto insurance, you’ll only pay about $39 monthly for coverage.

Our average considers a 40-year-old motorist with solid credit, full coverage auto insurance, and a clean driving record. Additionally, this driver logs roughly 13,000 miles yearly. The coverage is a single-car policy, so no multi-vehicle savings are available.

Lexus Auto Insurance Rates by Model

The Lexus model you buy impacts your auto insurance rates due to car value, repair costs, safety features, and theft rates. Take a look at the table below to compare Lexus insurance premiums by model:

Lexus Full Coverage Auto Insurance Monthly Rates by Model

The cheapest Lexus to insure is the compact SUV Lexus NX 300 — a full coverage policy typically costs $159 monthly. On the other hand, the Lexus LX 570 has the highest monthly Lexus insurance costs at $182. So, it’s important to compare auto insurance rates by vehicle make and model to find affordable insurance for Lexus cars.

The model year will also influence how much you pay for Lexus auto insurance, with newer vehicles being more expensive.

Explore Lexus Vehicle Comparison

Explore safety ratings to see if Lexus surpasses Volvo in ensuring top-tier security. This comparison aims to guide your decision-making process, helping you determine which brand sets the benchmark for midsize luxury SUV safety.

Getting auto insurance for Lexus models will vary based off which vehicle you own. For example, the Lexus ES insurance cost versus Lexus GX 460 insurance costs will be wildly different, given they are two different types of vehicle. The ES is a sedan, while the GX is an SUV. This means that Lexus ES 350 insurance rates aren’t going to be comparable to the GX line.

Lexus Auto Insurance Cost Comparison

The table below outlines the estimated cost of auto insurance for various Lexus models, providing valuable insights for informed decision-making.

The Lexus IS 300 insurance cost will be much different from the Lexus ES 350 insurance cost, but it’s always good to compare auto insurance for Lexus models to see what you would pay, should you choose to trade in your current vehicle.

Lexus Auto Insurance Rates by Company

Lexus auto insurance premiums also vary widely by chosen insurance companies. Take a look at the table below to compare full coverage auto insurance rates by company:

Full vs. Minimum Coverage Monthly Insurance Rates by Provider

As you can see, USAA auto insurance and Geico auto insurance offer the lowest monthly rates of $58 and $80, respectively, though USAA is only available to military members and their families. On the other hand, Allstate auto insurance and Liberty Mutual auto insurance are the most expensive.

It’s crucial to regularly evaluate your options for car insurance coverage, especially when buying a new vehicle. Whether you intend to stick with your current insurer or find a new one, comparing insurance quotes is one of the best tips to lower insurance costs for Lexus.

How Credit Score Impacts Lexus Auto Insurance Rates

You might be wondering how credit scores affect auto insurance rates for Lexus vehicles. Credit has a significant impact on average Lexus insurance rates in most states. Hawaii, Michigan, Maryland, California, and Massachusetts are the only states where insurers cannot charge rates based on credit.

It might be better for drivers under 25 to join their family’s multi-vehicle coverage for better Lexus insurance premiums because they often don’t have well-established credit.

Additionally, people can improve their credit over time to reduce their insurance rates. While paying for car insurance doesn’t help your credit, utilizing a credit card to make your regular payments does. Just be careful to pay off your account completely each billing cycle. Learn more about auto insurance and your credit score.

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Factors That Influence Lexus Insurance Premiums

There are some other factors that affect your auto insurance rates. For example, average auto insurance rates by age vary for Lexus drivers.

Auto insurance for teens is more expensive because they lack driving experience and are more likely to cause accidents. Teens pay about $600 monthly for the cost of insuring a Lexus vehicle. However, by the time they turn 25, risk and Lexus insurance premiums drastically decrease until age 60.

Auto insurance rates by ZIP code vary. For example, Lexus auto insurance premiums are higher in Michigan because it has high state minimum auto insurance requirements, and you’ll see higher Lexus rates if your location has more accidents or auto thefts.

Luxury vehicles like Lexus are prime targets for theft. Additionally, more powerful engines are frequently found in more expensive cars, so the cost of insuring a Lexus vehicle is higher.

Safety features can lower your Lexus insurance costs. Find out if your Lexus car’s driver-side and passenger-side air bags, automatic seat belts, anti-lock brakes (ABS), blind-spot detection systems, and lane-departure warning systems can help you get affordable insurance for Lexus cars.

Some features that haven’t made it to less expensive models, like sensors that detect turns in the road or oncoming traffic, can occasionally offset high insurance costs for cars like Lexus vehicles. Find out if Lexus’s safety rating for midsize luxury SUVs is better than Volvo’s.

Additional Lexus Auto Insurance Options

Extra coverage options will raise your average Lexus insurance costs but may be useful if you’re looking to purchase a new Lexus. For example, if you lease or finance your Lexus, you might need comprehensive auto insurance and collision auto insurance alongside the coverage your state requires.

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To determine which coverage alternatives are beneficial, consider your own situation. These extra coverages include:

• Gap Insurance: If your new Lexus gets totaled in a covered accident, gap insurance pays the difference between the car’s value and what you still owe on it. Some car lenders may require gap insurance.
• Roadside Assistance: If you break down on the side of the road, roadside assistance coverage assists with towing, changing a flat tire, and fuel delivery. However, it doesn’t include the price of fuel or tire repair. 
• Replacement Coverage: If your car gets totaled, new car replacement insurance pays for the cost of the same or similar make and model of your Lexus.
• Rental Auto Insurance: Rental auto insurance pays for a replacement vehicle while yours gets repaired after a covered claim.
• Rideshare Auto Insurance: If you drive for a rideshare company like Uber or Lyft, you’ll need rideshare auto insurance with your company. However, your Lexus will increase by about 15%.
• Commercial Auto Insurance: Commercial auto insurance may be necessary to protect work vehicles, offering coverages like liability and comprehensive insurance for Lexus vehicles.

Even if your Lexus doesn’t have a payment, you should consider these coverage options to help cover the expenses of repairs for your car in case of a covered claim. Just looking for cheap Lexus insurance won’t provide you with the best results, especially if you need specific coverage.

Tips to Lower Auto Insurance Costs for Lexus

The fact that you own a Lexus doesn’t negate the value of affordable auto insurance. To lower your auto insurance rates, take the following actions:

• Don’t drive too far each year
• If you park overnight, do it safely
• Don’t file too many auto insurance claims
• If you increase your auto insurance deductible, you’ll see more affordable insurance for Lexus cars, but don’t raise it to an amount you can’t afford

You might also be eligible for further reductions and auto insurance discounts if your Lexus includes particular features, like:

• Systems with passive restraint, such as air bags and mechanized seat belts
• Anti-lock brakes auto insurance discount
• Anti-theft tools
• Usage-based auto insurance

Spending a fortune on insurance isn’t necessary just because you drive a luxury car. Getting insurance on Lexus vehicles will take some research, but you can also uncover many different ways to save money by reading Lexus insurance reviews and comparing auto insurance companies.

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Dig Deeper to Lower Your Lexus Auto Insurance Costs

Are you overpaying for the cost of insuring a Lexus vehicle? For most individuals, auto insurance is a significant expense, and the cost of luxury auto insurance coverage is rising. If you put in the effort and compare the best insurance options for Lexus vehicles, you can reduce your Lexus car insurance premiums.

How much does it cost to insure a Lexus? The answer to this question varies, but the typical monthly cost of auto insurance for a Lexus is about $164 per month. Why is Lexus insurance high? Once again the answer will vary, since Lexus insurance costs will differ greatly among carriers for the same coverage.

Get new Lexus insurance quotes if you’ve been with your current insurance provider for over a few years to ensure you’re not overpaying. Shopping for multiple companies is the only effective way to get the lowest Lexus insurance premiums. Uncover affordable auto insurance rates from the top providers by entering your ZIP code below. 

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