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What To Know About Car Insurance for a Lexus RX 350

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The Lexus RX 350 is a luxury vehicle, so you may wonder if it comes with an added insurance expense. While it can cost more to insure this vehicle, there are many ways you can reduce the cost of your premium to find an affordable policy to meet your budget. Review this guide to learn everything you need to know about car insurance for a Lexus RX 350, including average rates and strategies to help you save money.

What’s the Cost of Insurance for a Lexus RX 350?

Like many luxury vehicles, the Lexus RX 350 may cost more to insure. On average, it costs $1,884 per year to insure a Lexus RX 350, according to CarEdge.com. While more expensive than the national car insurance average, this amount is $341 lower than the national average for luxury SUV models.

Many factors can affect the insurance rates for a Lexus RX 350, including the state in which you live. Here’s a comparison of the average Lexus RX 350 insurance cost for good drivers in different states, according to CarEdge.com:

  • California: $2,279
  • Florida: $2,678
  • Illinois: $1,586
  • Louisiana: $3,186
  • Nevada: $2,504
  • New York: $1,815
  • Pennsylvania: $1,681
  • Texas: $2,025

Other Factors That Determine the Cost of Insurance for a Lexus RX 350

When you purchase car insurance for a Lexus RX 350, insurers consider various factors when determining your premium. Here are some things they may examine when setting your car insurance rates:

Your Age

Often, your age will affect the cost of your car insurance premium. You may pay a higher premium if you have a teen or young adult driver on your insurance policy. Insurers charge higher premiums for younger drivers because they have less experience on the road. Typically, insurance companies set the highest rates for teen drivers, and the rates gradually decrease as drivers gain more experience.

Your Driving Record

Many insurance companies will review your driving record when setting your car insurance rate. Your driving record may include the following:

  • Accidents you’ve had
  • The traffic violations you’ve committed
  • Claims you’ve filed previously

Typically, drivers with few or no accidents on their record and no history of claims can expect to pay lower premiums. On the other hand, drivers who have had multiple accidents and filed car insurance claims before may have higher premiums.

Your Vehicle

Insurers will consider various factors related to your vehicle, including its age. If you purchase a newer model RX 350, you will likely pay more for insurance because it will have a higher value than older models. Insurers also commonly use the vehicle’s safety ratings to determine the cost of car insurance. The Insurance Institute for Highway Safety gives recent models of the RX 350 good safety ratings, which could help lower the cost of insurance.

What Insurance Do You Need for a Lexus RX 350?

Purchasing a Lexus RX 350 is a significant investment, so make sure you have enough insurance to protect yourself and the vehicle if you’re involved in an accident. Here are the types of insurance you may need for a Lexus RX 350:

Liability

Most states require you to have liability insurance, which includes bodily injury liability and property damage liability. Liability insurance covers medical expenses and repair costs for others if you’re the at-fault driver in an accident. States typically set minimum amounts of bodily injury liability and property damage liability you’re required to have. Often, the state minimum won’t cover all expenses after an accident, so you may want to purchase additional liability coverage to protect yourself.

Collision and Comprehensive

Along with liability, collision and comprehensive insurance are typically known as “full coverage.” While not required by states, you may need to have collision and comprehensive coverage if you finance or lease a Lexus RX 350 because many lenders require it. Collision insurance pays for repairs to your vehicle if it takes on damage in an accident, regardless of who’s at fault. Comprehensive insurance pays for damage to your car for other covered events, such as theft. Because the Lexus RX 350 is a high-value vehicle, it can be helpful to have full coverage.

Personal Injury Protection

Some states may require you to have personal injury protection (PIP) insurance. This insurance will cover medical bills for you and your passengers after an accident. It may also cover lost wages if you’re unable to work after an accident. If you don’t live in a state that requires PIP insurance, it can still be helpful to have if available. That is especially true if you’re worried your health insurance may not fully cover your injuries after an accident.

Uninsured/Underinsured Motorist

Like PIP insurance, only certain states require this type of coverage. Uninsured or underinsured motorist coverage will pay for medical bills or repair costs if you’re involved in an accident where the at-fault driver doesn’t have enough insurance to cover those expenses. If it’s not a requirement in your state, you may opt out of this insurance if you have similar coverage already, such as PIP or collision insurance.

Ways To Save Money on Insurance for a Lexus RX 350

While it can be more expensive to insure a Lexus RX 350, there are ways you can lower your premium to help you save money. Here are some strategies to get lower insurance rates for a Lexus RX 350:

  • Compare policies. When you choose an insurance plan, it’s helpful to compare policies from different companies. This comparison can help you choose the most cost-effective insurance policy for a Lexus RX 350.
  • Ask about discounts. You may be eligible for different discounts through your insurer, such as a safe driver discount. Ask your insurance company about discounts you may be able to get.
  • Choose a high-deductible plan. Often, you can lower your premium by choosing a high-deductible plan. Choose a deductible amount you can reasonably afford if you’re involved in an accident.
  • Bundle your insurance. Many insurance companies give discounts if you bundle your car insurance with another policy, such as homeowners insurance. Ask your insurer if bundling is an option.

When you purchase a Lexus RX 350, make sure you consider the cost of insurance for this vehicle. While the luxury SUV can be more costly to insure than other vehicles, there are often ways you can lower your premium to save money on insurance for a Lexus RX 350.

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.

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About the Author

FIXD Research Team

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

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