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The Lexus brand is a luxury vehicle provider that is actually owned by Toyota. For consumers, that means the same reliable features that are a part of many Toyota models make their way to Lexus vehicles. Larger Lexus vehicles, including Lexus SUVs, are excellent car options during treacherous Ontario winters. The vehicles drive smoothly on the road and with award-winning safety, you can be sure your family is safe whenever they’re with you on the road.
When it comes to insuring your Lexus vehicle, rates will range. Seeing as the brand is known for its luxury driving experience and conveniences, insurance rates will likely be higher than other vehicle brands. Certain Lexus models like the LX and their exclusive sports cars will cost more to comprehensively insure. What else about the Lexus affects the cost?
What Impacts Lexus Insurance?
There are a few factors that impact Lexus car insurance in general and your specific rate.
Because Lexus is a luxury brand, replacement costs tend to be higher. OEM replacement part costs are also more expensive than other brands, which can impact your monthly premium. Ask your broker about increasing your deductible to account for elevated costs.
Lexus has historically been a target of car theft. Because this factor increases your chances of filing a claim, insurance rates will more than likely reflect this. Add additional safety features to help offset these costs.
Lexus has a great reputation of being reliable and has earned great safety ratings. Both these factors decrease the overall cost of your insurance.
How old YOU are
Apart from the vehicle, how much your Lexus insurance will cost depends a little bit on you as well. How old you are is an immediate factor in determining your monthly insurance rate. Younger drivers tend to experience higher premiums until they have been driving long enough to build up a clean driving record.
How you drive
A second factor that impacts how much you will pay in insurance is how you drive your Lexus. The more often you drive, the higher your claims risk is to insurance companies. If you reduce the amount you drive, let your insurance company know; you may see a dip in your premium rate.
Contact us Today
Looking for your Lexus vehicle insurance? Look no further than isure. Our team of brokers makes finding great insurance rates easy for our clients. We search through hundreds of different policies and rates to find you the best coverage for a great rate each and every time. Call our team today or fill out an online quote form today and get started with creating the best policy for your Lexus!