Cheap Lexus LFA Car Insurance in 2024 (Cash Savings With These 10 Companies)
Safeco, Erie, and USAA are the top providers for cheap Lexus LFA car insurance with rates as low as $110/month. They offer competitive pricing, excellent coverage, and great customer service. Safeco is the best overall, Erie excels in safety, and USAA provides top rates for military members.
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Jul 12, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Jul 12, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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1,167 reviewsCompany Facts
Min. Coverage for Lexus LFA
A.M. Best Rating
Complaint Level
Pros & Cons
1,167 reviews
1,814 reviewsCompany Facts
Min. Coverage for Lexus LFA
A.M. Best Rating
Complaint Level
Pros & Cons
1,814 reviews
6,434 reviewsCompany Facts
Min. Coverage for Lexus LFA
A.M. Best Rating
Complaint Level
Pros & Cons
6,434 reviews
Erie excels in providing discounts for safety features, while USAA offers the best rates for military members. This article explores these top providers, comparing their rates, coverage options, and unique benefits to help you make an informed decision.
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | $110 | A | Multiple Discounts | Safeco |
 | #2 | $113 | A+ | Safety Features | Erie |
 | #3 | $115 | A++ | Military Members | USAA |
 | #4 | $117 | A++ | Policy Bundling | Auto-Owners |
 | #5 | $118 | A+ | Accident History | Nationwide |
 | #6 | $125 | B | Large Network | State Farm |
 | #7 | $128 | A | Package Deals | Liberty Mutual |
 | #8 | $130 | A++ | Good Payer | Travelers |
 | #9 | $135 | A+ | Usage Monitoring | Progressive |
 | #10 | $150 | A | Low Mileage | The General |
In this article, we will explore these factors in detail and provide you with a comprehensive understanding of how much Lexus LFA car insurance costs.
If you’re just looking for coverage to drive legally, enter your ZIP code above to compare cheap auto insurance quotes near you.
#1 – Safeco: Top Overall Pick
Pros
- Multiple Discounts: Safeco insurance review & ratings offers a variety of discounts, making it easier for policyholders to save on their Lexus LFA car insurance.
- Comprehensive Coverage: Wide range of coverage options tailored for different needs, with monthly rates starting at $110 for Lexus LFA insurance.
- Efficient Claims Process: Quick and straightforward claims process, enhancing customer satisfaction for Lexus LFA owners.
Cons
- Higher Rates for High-Risk Drivers: Premiums may be higher for drivers with a poor driving record insuring their Lexus LFA.
- Limited Availability: Not available in all states, which may limit options for some Lexus LFA customers.
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#2 – Erie: Best for Safety Features
Pros
- Safety Feature Discounts: Offers discounts for Lexus LFA vehicles equipped with advanced safety features.
- Customer Service: High customer satisfaction due to personalized service, with monthly rates starting at $113 for Lexus LFA insurance.
- Accident Forgiveness: Benefits like accident forgiveness to keep premiums stable for Lexus LFA drivers. For further details, consult our article named “Erie Insurance Review & Ratings.“
Cons
- Limited Online Tools: Fewer online management tools compared to competitors, affecting Lexus LFA insurance customers.
- Availability: Limited to certain states, which could restrict accessibility for some Lexus LFA owners.
#3 – USAA: Best for Military Members
Pros
- Military Discounts: USAA insurance review & ratings has exclusive discounts for military members and their families insuring their Lexus LFA.
- High Customer Satisfaction: Known for excellent customer service and support, with monthly rates starting at $115 for Lexus LFA insurance.
- Comprehensive Coverage: Offers a wide range of coverage options tailored for military members owning a Lexus LFA.
Cons
- Eligibility Restrictions: Only available to military members and their families, limiting access for some Lexus LFA owners.
- Limited Physical Locations: Fewer physical branches, which might be inconvenient for some Lexus LFA customers.
#4 – Auto-Owners: Best for Policy Bundling
Pros
- Bundling Discounts: Significant savings when bundling multiple insurance policies, including Lexus LFA car insurance.
- High Financial Strength: Strong financial stability ensuring reliability, with monthly rates starting at $117 for Lexus LFA insurance.
- Personalized Service: Provides personalized customer service through local agents for Lexus LFA owners. Access comprehensive insights into our article titled “Auto-Owners Insurance Review & Ratings.”
Cons
- Online Services: Limited online tools and digital services, which might affect Lexus LFA customers.
- Availability: Coverage may not be available in all states, restricting access for some Lexus LFA owners.
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#5 – Nationwide: Best for Accident History
Pros
- Accident Forgiveness: Forgives one accident to prevent rate increases for Lexus LFA owners. Dive deeper into our “Nationwide insurance review & ratings” for a comprehensive understanding.
- Vanishing Deductible: Deductible reduces over time without claims, beneficial for Lexus LFA insurance.
- Wide Coverage Options: Offers a variety of coverage options including accident forgiveness, with monthly rates starting at $118 for Lexus LFA insurance.
Cons
- Higher Premiums: Can have higher premiums compared to some competitors for Lexus LFA insurance.
- Customer Satisfaction: Mixed reviews regarding customer service from Lexus LFA insurance customers.
#6 – State Farm: Best for Large Network
Pros
- Bundling Policies: Offers significant discounts for bundling multiple insurance policies, including Lexus LFA car insurance.
- High Low-Mileage Discount: Provides a substantial discount for low-mileage usage of a Lexus LFA. Get a better grasp by reading our article titled “State Farm Insurance Review & Ratings.“
- Wide Coverage: Offers various coverage options tailored for different business needs, with monthly rates starting at $125 for Lexus LFA insurance.
Cons
- Limited Multi-Policy Discount: The multi-policy discount is not as high compared to some competitors for Lexus LFA insurance.
- Premium Costs: Despite discounts, premiums might still be relatively higher for certain coverage levels of Lexus LFA insurance.
#7 – Liberty Mutual: Best for Package Deals
Pros
- Comprehensive Package Deals: Offers extensive package deals for various insurance needs, including Lexus LFA car insurance.
- Customer Support: Excellent customer service and support for Lexus LFA owners, with monthly rates starting at $128.
- Flexible Payment Plans: Offers various payment options to suit different needs of Lexus LFA customers. Expand your understanding with our “Liberty Mutual Review & Ratings.“
Cons
- Higher Premiums for High-Risk Drivers: Can be more expensive for drivers with poor records insuring their Lexus LFA.
- Limited Discounts: Fewer discount options compared to some competitors for Lexus LFA insurance.
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#8 – Travelers: Best for Good Payer
Pros
- Good Payer Discounts: Offers discounts for customers with good payment histories on their Lexus LFA insurance.
- Comprehensive Coverage Options: Extensive range of coverage options for Lexus LFA owners, with monthly rates starting at $130.
- Financial Stability: Strong financial ratings ensuring reliability for Lexus LFA insurance. Explore further details in our “Travelers Insurance Review & Ratings.“
Cons
- Higher Premiums: Can be higher than some competitors for Lexus LFA insurance.
- Complex Policies: Some customers find policy details complex and confusing for Lexus LFA insurance.
#9 – Progressive: Best for Usage Monitoring
Pros
- Usage-Based Discounts: Offers discounts based on driving habits through usage monitoring for Lexus LFA insurance.
- Comprehensive Online Tools: Excellent online tools for managing Lexus LFA insurance policies. Delve into the depths of our “Progressive insurance review & ratings” for additional insights.
- Snapshot Program: Innovative program for monitoring and rewarding safe driving of a Lexus LFA, with monthly rates starting at $135.
Cons
- Privacy Concerns: Some drivers may have privacy concerns with usage monitoring for their Lexus LFA.
- Higher Premiums Without Discounts: Premiums can be higher without the usage-based discounts for Lexus LFA insurance.
#10 – The General: Best for Low Mileage
Pros
- Low Mileage Discounts: Significant discounts for low-mileage drivers of a Lexus LFA.
- Flexible Payment Options: Offers flexible payment plans for Lexus LFA insurance.
- Quick Online Quotes: The General car insurance review & ratings provides fast and easy online quote processes for Lexus LFA insurance, with monthly rates starting at $150.
Cons
- Higher Base Premiums: Generally higher base premiums for Lexus LFA insurance compared to other providers.
- Limited Coverage Options: Fewer coverage options available for Lexus LFA insurance compared to competitors.
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Factors That Determine the Cost of Lexus LFA Car Insurance
Various factors influence the cost of insuring a Lexus LFA. The vehicle’s value plays a significant role, as this luxury sports car’s high price tag demands more expensive insurance coverage to protect such a valuable asset. The policyholder’s driving record is another crucial factor; a clean record with no accidents or traffic violations generally results in lower premiums.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Auto-Owners | $117 | $350 |
| Erie | $113 | $350 |
| Liberty Mutual | $128 | $385 |
| Nationwide | $118 | $365 |
| Progressive | $135 | $385 |
| Safeco | $110 | $330 |
| State Farm | $125 | $350 |
| The General | $150 | $425 |
| Travelers | $130 | $365 |
| USAA | $115 | $315 |
Additionally, age and location impact insurance costs, with younger drivers and those in densely populated areas typically facing higher rates due to a higher likelihood of accidents. The frequency and purpose of driving the Lexus LFA also matter, as factors like mileage, personal versus business use, and driving in high-risk areas can affect premiums.
The type and level of insurance coverage chosen, such as comprehensive and collision coverage versus minimal liability, along with the deductibles, play a role in determining the cost. Lastly, the driver’s credit history is considered, with a good credit score potentially leading to lower premiums due to perceived financial responsibility, while a poor credit score could result in higher rates.
Discover more information with our “Understanding Credit: A Score that Impacts Everything from Your Cell Phone Bill to Car Insurance.”
Understanding the Different Types of Car Insurance Coverage for a Lexus LFA
Analyzing the Risk Profile of the Lexus LFA
Insurance companies assess the risk of insuring the Lexus LFA by evaluating its performance capabilities, repair and replacement costs, vehicle theft rates, statistical data, driver demographics, and geographical location. The powerful performance of the Lexus LFA increases the risk of accidents and claims, leading to higher premiums.
USAA and @missioncontinue assembled nearly 700 volunteers in Military City, USA, to live our mission of serving the military community and their families. Thank you to the superstar volunteers who joined this historic initiative. pic.twitter.com/rt4blIUXZ9
— USAA (@USAA) July 11, 2024
The high cost of repairing or replacing parts and the availability of specialized mechanics also contribute to higher premiums. Luxury sports cars like the Lexus LFA are often targeted by thieves, resulting in higher rates, though additional security features can help reduce this risk. For a comprehensive analysis, refer to our detailed guide titled “Most Expensive Cars in the World” for in-depth information.
Historical claims data indicating a higher likelihood of accidents or claims for the Lexus LFA can impact premiums. Driver demographics, such as age, gender, and driving history, influence risk profiles, with younger drivers or those with a history of accidents facing higher rates.
Lastly, the location where the Lexus LFA is driven and parked affects premiums, with areas having higher rates of accidents, theft, or vandalism, or those prone to extreme weather conditions, resulting in higher costs.
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Comparing Insurance Rates for the Lexus LFA With Other Luxury Sports Cars
When considering the cost of Lexus LFA car insurance, it is important to compare rates with other luxury sports cars. Premiums will vary based on factors like the vehicle’s make and model, comparable market value, and insurance company criteria. Compare car insurance quotes from multiple insurance providers will help you identify the most competitive rates for insuring your Lexus LFA.
Additionally, it is worth noting that insurance rates for luxury sports cars like the Lexus LFA may also be influenced by the driver’s age, driving record, and location. Younger drivers or those with a history of accidents or traffic violations may face higher premiums.
Furthermore, the area in which the car is primarily driven can impact insurance rates, as areas with higher rates of theft or accidents may result in higher premiums. It is important to consider these factors when comparing insurance rates for the Lexus LFA with other luxury sports cars.
Tips for Finding Affordable Car Insurance for Your Lexus LFA
The Importance of Comprehensive Coverage for a High-Value Vehicle Like the Lexus LFA
While comprehensive coverage may be optional, it is highly recommended for a high-value vehicle like the Lexus LFA. Comprehensive coverage not only protects against accidents but also covers theft, vandalism, and other non-collision damages. Given the significant investment of owning a Lexus LFA, comprehensive coverage provides peace of mind and financial protection for unforeseen events.
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Factors to Consider When Choosing an Insurance Provider for Your Lexus LFA
When selecting an insurance provider for your Lexus LFA, consider the following factors: reputation and financial stability, the claims process, customer service, and coverage options and discounts. Choose an insurance company with a strong reputation and financial stability to ensure they can meet their obligations in the event of a claim.
Research the insurer’s claims process and customer reviews to understand how efficiently and fairly they handle claims. For a thorough understanding, refer to our detailed analysis titled “How to Document Damage for Car Insurance Claims.”
Evaluate the quality of customer service provided by the insurer, as it can significantly impact your overall experience. Look for an insurer who offers comprehensive coverage options and discounts specifically for luxury and high-performance vehicles like the Lexus LFA.
Common Misconceptions About Insuring a Luxury Car Like the Lexus LFA
When it comes to insuring a luxury car like the Lexus LFA, there are a few common misconceptions that need to be addressed:
- Luxury Car Insurance Is Expensive: While insurance for luxury cars tends to be higher than average, it is not necessarily unaffordable. With proper research and consideration of the factors mentioned above, finding affordable insurance for your Lexus LFA is possible.
- Insurers All Offer the Same Luxury Car Coverage: Insurance companies differ in the coverage options and discounts they offer for luxury cars. Comparing quotes and exploring specialized insurance providers can help identify the best coverage for your Lexus LFA.
- Comprehensive Coverage Isn’t Necessary: Given the high value of luxury vehicles like the Lexus LFA, comprehensive coverage is highly recommended to protect against various risks, including theft, vandalism, and non-collision damages.
Insuring a luxury car like the Lexus LFA can be affordable with proper research, and coverage varies between providers. Comprehensive coverage is highly recommended to protect against various risks. Check our guide titled “Collision vs. Comprehensive Car Insurance.”
The Role of Deductibles in Determining the Cost of Lexus LFA Car Insurance
The deductible is the amount you must pay out of pocket when filing an insurance claim before your insurer covers the remaining costs. Choosing a higher deductible will lower your insurance premiums since you are taking on a more significant portion of the risk. Check out this comprehensive guide “What is the difference between a deductible and a premium in car insurance?”
However, it is crucial to assess your financial situation and ensure you can afford the chosen deductible should you need to make a claim.
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The Benefits of Bundling Your Lexus LFA Insurance With Other Policies
Bundling your Lexus LFA insurance with other policies, such as home or life insurance, can offer several benefits. Insurance companies often provide discounts when you bundle multiple policies, reducing the overall cost of your insurance coverage. Additionally, bundling can simplify your insurance management, as you deal with one insurer for multiple policies, streamlining communication and potential claim processes.
By understanding the various factors that influence the cost of Lexus LFA car insurance, you can make informed decisions when choosing coverage and selecting an insurance provider. It is crucial to thoroughly research and compare options to find the most suitable and affordable insurance coverage for your valuable Lexus LFA (Read more: How To Get Free Insurance Quotes Online).
Case Studies: Finding Cheap Lexus LFA Car Insurance
These case studies highlight real-world examples of Lexus LFA owners finding the best car insurance options. By exploring their experiences with top providers Safeco, Erie, and USAA, you can understand how to secure affordable and comprehensive coverage for your own Lexus LFA.
- Case Study #1 – John’s Experience With Safeco: John, a Lexus LFA owner from California, chose Safeco for his car insurance due to their competitive rates and comprehensive coverage. He was particularly impressed with Safeco’s customer service and their quick, hassle-free claims process. By bundling his car insurance with his homeowner’s policy, John managed to secure a significant discount.
- Case Study #2 – Emily’s Safety Discounts With Erie: Emily, an LFA owner who values safety, opted for Erie because of their attractive safety feature discount. She installed advanced security systems and anti-theft devices in her car, which Erie recognized with substantial premium reductions. Emily found Erie’s focus on safety not only provided her peace of mind.
- Case Study #3 – Mike’s Military Benefits With USAA: Mike, a military veteran, turned to USAA for his Lexus LFA insurance, benefiting from their exceptional rates for military members. He appreciated USAA’s personalized customer service and the additional savings on his premium. USAA’s military-friendly policies and comprehensive coverage options made them the perfect choice for Mike.
These case studies demonstrate how different Lexus LFA owners found the best insurance solutions by selecting providers that matched their unique needs.
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Whether it’s Safeco’s overall coverage, Erie’s safety discounts, or USAA’s military benefits, understanding these examples can guide you to the most suitable and cost-effective insurance for your Lexus LFA. Find your cheapest auto insurance quotes by entering your ZIP code below into our free comparison tool.
Frequently Asked Questions
Is the Lexus LFA car insurance reliable?
Yes, the Lexus LFA is known for its reliability, thanks to Toyota’s renowned engineering and build quality, which can favorably influence Lexus LFA car insurance costs.
Dive into more details with our guide on “How does the insurance company determine my premium?”
How much does Lexus LFA cost?
A new Lexus LFA originally cost around $375,000, but prices can vary widely today based on condition and rarity. This high value significantly affects Lexus LFA car insurance rates.
Explore your auto insurance options by entering your ZIP code into our free comparison tool below today.
Why no one bought Lexus LFA?
The Lexus LFA had limited sales due to its high price and niche market appeal, despite its exceptional performance and design. These factors also influence the cost of Lexus LFA car insurance.
Who is known for cheapest car insurance?
Geico is often known for providing some of the cheapest car insurance rates in the industry. However, for a high-performance car like the Lexus LFA, specialized insurers might offer better coverage options.
To gain additional understanding, consult our detailed guide titled “How can I pay my Geico insurance premium?”
What is the cheapest Lexus LFA ever sold?
The cheapest Lexus LFA ever sold at auction went for approximately $300,000, affecting the car’s insurance valuation and premiums.
Is the Lexus LFA a rare car?
Yes, the Lexus LFA is considered a rare car, with only 500 units produced worldwide. This rarity can impact Lexus LFA car insurance premiums due to limited availability of parts and specialized repair needs.
What car brand has the lowest insurance?
Brands like Subaru and Honda generally have the lowest insurance rates due to their strong safety records and lower repair costs. For deeper knowledge, explore our insightful guide titled “Honda Car Insurance Discount.”
Is Lexus LFA a luxury car?
Yes, the Lexus LFA is a luxury car known for its high performance and premium features. Luxury cars often come with higher insurance premiums, and this is especially true for Lexus LFA car insurance.
Is Lexus LFA street legal?
Yes, the Lexus LFA is street legal and meets all necessary regulations for road use, which is a consideration in its insurance coverage.
Why is Lexus LFA so special?
The Lexus LFA is special due to its advanced engineering, high-performance V10 engine, and limited production run. These factors contribute to the higher Lexus LFA car insurance costs.
To obtain more details, check out our extensive relevant guide titled “Cheap Lexus HS Car Insurance.”
What does Lexus LFA stand for?
LFA stands for “Lexus F-Sports Apex,” indicating the pinnacle of Lexus’s F-Sport performance line. The exclusivity and performance level impact Lexus LFA car insurance rates.
Why did LFA fail?
The Lexus LFA is considered to have failed commercially due to its high price and the economic conditions at the time of its release. These factors also affect Lexus LFA car insurance premiums.
To learn more, review our thorough guide titled “Cheap Lexus IS F Car Insurance.”
Which one is the cheapest Lexus?
The Lexus UX is currently the cheapest Lexus model available, starting around $33,000. Its lower cost can translate to more affordable insurance premiums compared to the LFA.
What type of car insurance is cheapest?
Liability insurance is typically the cheapest type of car insurance, covering only damages to others. For a luxury vehicle like the Lexus LFA, comprehensive coverage is recommended despite the higher cost. Lexus LFA car insurance is typically more expensive due to the car’s value and performance.
Is Lexus expensive to maintain?
Lexus vehicles are generally more expensive to maintain than average cars, but they are cheaper to maintain than many other luxury brands. Maintenance costs are a factor in determining Lexus LFA car insurance premiums. Use our free comparison tool below to see what auto insurance quotes look like in your area.
Is Lexus cheaper to maintain than BMW?
Yes, Lexus vehicles are generally cheaper to maintain than BMWs, due to better reliability and lower repair costs. For additional perspectives, read through our specialized guide titled “BMW Car Insurance Discount.”
Which celebrity owns a Lexus LFA?
Celebrities like Paris Hilton and Jay Leno are known to own a Lexus LFA.
Which Lexus is cheapest to insure?
The Lexus ES typically has the lowest insurance rates among Lexus models due to its strong safety features and lower repair costs. However, when it comes to Lexus LFA car insurance, the premiums are generally higher due to its high value and performance characteristics.
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
