Best Guide to Cheap Lexus IS 300 Car Insurance Rates in 2023

• Lexus IS 300 car insurance costs an average of $2,040 per year, $1,020 for a 6-month policy, or around $170 per month.
• With the cheapest car insurance rates, the IS 300 Rear Wheel Drive model costs an average of $2,014 per year to insure.
• At the high end, the IS 300 All Wheel Drive is the most expensive to insure at $2,066 for an annual policy.
• As one of the cheaper midsize luxury cars to insure, the Lexus IS 300 costs $262 less per year on average to insure when compared to the other midsize luxury cars.

How much does Lexus IS 300 car insurance cost?

The average driver should plan on paying an average of $2,040 annually for full coverage to insure a Lexus IS 300. Depending on the trim level being insured, monthly car insurance for a 2023 Lexus IS 300 costs from $168 to $172.

When split out by coverage type, comprehensive coverage costs approximately $516 a year, liability and medical payments insurance will cost around $584, and the remaining collision insurance costs an estimated $940.

The rate chart below demonstrates how Lexus IS 300 insurance cost can change depending on driver age and the policy deductibles chosen. Insurance rate averages vary from the lowest price of $1,528 per year for a driver age 60 with $1,000 deductibles to the highest rate of $4,730 each year for a driver age 20 with $250 comprehensive and collision deductibles.

The overall average rate in the chart above is the $500 deductible policy for a 40-year-old driver which costs $2,040 per year, or $170 per month. For the same deductible level, cost ranges from $1,820 for a 60-year-old driver to $4,052 for a 20-year-old driver.

The data below shows average insurance cost data for a Lexus IS 300 for the 2016 to 2023 model years.

The rate table below details the estimated annual and 6-month policy costs, including a monthly budget figure, for each Lexus IS 300 model and trim level.

How does Lexus IS 300 insurance cost compare?

When compared to popular vehicles in the midsize luxury car segment, car insurance rates for a Lexus IS 300 cost $88 more per year than the Lexus ES 350, $140 less than the BMW 530i, and $486 less than the Infiniti Q50.

The Lexus IS 300 ranks ninth out of 38 total comparison vehicles in the midsize luxury car category for most affordable car insurance cost. The IS 300 costs an average of $2,040 per year for an auto insurance policy with full coverage and the category average policy cost is $2,302 annually, a difference of $262 per year.

The next chart shows how the average car insurance rate for a Lexus IS 300 compares to the top 10 most popular midsize luxury cars in America like the Mercedes-Benz CLA250, Audi A6, and the Tesla Model S. A more comprehensive data table is included following the chart that details average auto insurance rates for all 38 models in the midsize luxury car category.

Other rates and insights

Some other noteworthy observations about Lexus IS 300 insurance rates include:

• As you get older, Lexus IS 300 car insurance rates tend to be cheaper. The difference in 2023 IS 300 insurance cost between a 50-year-old driver ($1,856 per year) and a 30-year-old driver ($2,154 per year) is $298, or a savings of 14.9%.
• Driving violations increase insurance rates. If you want to get the best price on IS 300 insurance rates, it’s necessary to obey traffic laws. Just a few minor traffic violations could end up increasing policy rates as much as $534 per year.
• Policy discounts equal cheaper IS 300 insurance rates. Discounts may be available if the policyholders belong to certain professional organizations, are senior citizens, are good students, insure their home and car with the same company, or many other discounts which could save the average driver as much as $348 per year.
• No accidents means cheaper rates. At-fault accidents increase insurance cost, possibly by an additional $942 per year for a 30-year-old driver and as much as $606 per year for a 60-year-old driver.
• Age and gender affect car insurance rates. For a 2023 Lexus IS 300, a 20-year-old man pays an average price of $4,052 per year, while a 20-year-old female driver pays an estimated $3,002, a difference of $1,050 per year in favor of the women by a long shot. But by age 50, the rate for males is $1,856 and the rate for women is $1,816, a difference of only $40.
• High-risk car insurance can get expensive. For a 20-year-old driver, having enough accidents and violations to require a high-risk insurance policy can cause a rate increase of $3,132 or more per year.
• Better credit scores yield better car insurance rates. Drivers with high 800+ credit scores could save $320 per year over a slightly lower credit score between 670-739. Conversely, a weak credit rating could cost as much as $371 more per year.