One of the most popular lines of luxury cars, the Lexus ES sedans are perennial bestsellers in that market. The insurance premiums for a Lexus ES will vary by region of the country but averages around $1600 a year, which correlates to about $130 a month.
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Insurance prices take into account features of the car, but also the individual owners as well. So your price could vary widely depending on how many optional safety features you purchase and your personal driving statistics.
What safety features does the ES have?
Known for catering to drivers who want comfort, safety, and luxury, the Lexus sedans come standard with many advanced safety features. This includes stability and traction control, and four disk anti-lock brakes.
The airbag system employs front- and rear-side airbags, and front knee airbags, as well as side curtain airbags. The Insurance Institute for Highway Safety awards the Lexus ES 350 a “Good” rating in both frontal offset and side impact tests in its most recent report.
While these come standard, other safety features do not. The newest optional feature from Lexus is the Enform with Safety Connect system. Similar to Chevrolet’s OnStar system, Safety Connect includes three different features: automatic collision notification, a locator if the Lexus is stolen, and emergency roadside assistance.
Another optional feature is the adaptive cruise control. This feature will automatically slow the car if it senses you are following another vehicle too closely. The pre-collision system uses radar to warn you of a possible impact.
All of these features result in a very safe car, which usually leads to lower premiums on car insurance. However, the Lexus is a luxury vehicle and as such, uses high-end parts. The parts are more expensive to replace, offsetting the discounts the enhanced safety features would provide.
How much does the Lexus ES cost to own?
The cost of ownership includes all the expenses, both obvious and hidden, of owning and operating a vehicle, excluding the purchase price. The hidden costs are depreciation and financing of the automobile loan. Add to these the insurance premiums, state fees, fuel, and maintenance and repair costs, to arrive at the yearly cost of ownership.
On a brand-new car, this cost is always higher the first year because of the larger amount of depreciation. The Lexus ES series has historically been a very reliable car with lower maintenance and repair costs than other similar vehicles. Thus, Automobile Magazine has rated it as an “Excellent Value” car in its report on the 350.
Obviously, these costs will vary by state and owner. The insurance costs alone can vary by hundreds of dollars a year from person to person and from insurance company to insurance company.
What factors affect the cost of my insurance?
The type of car you own is not the only factor in determining the price you’ll pay for insurance premiums. Who you are and how you drive have an important role as well.
Your age, whether you are male or female, and your marital status are primary statistics used by insurance companies. Married people and women tend to pay lower premiums, as do people who have been driving for several years.
If you live in a high crime area, especially high in car thefts, expect to pay more. Those in larger cities tend to pay more while drivers in rural areas pay less. Where the car is stored can be a factor. If you have a home with a garage, be sure to mention that for an extra discount.
Believe it or not, your occupation will also influence insurance premiums. People who drive as part of their jobs, like salespeople and delivery personnel, have a higher probability of being in a wreck simply because they are on the road more. Thus, they will pay more than someone who sits behind a desk all day. Those who put a lot of miles on a car every year also pay more.
Do you live in a flood area or in an area often hit by hurricanes? You might think this would affect your home owner’s insurance, but it can affect your car insurance as well.
All of these factors are weighed by the insurance company when determining your premiums. Different companies might account for some of these differently, so it’s best to shop around. Comparing quotes from different companies can save you a lot of money.
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