In Ontario, it is required by law to have auto insurance, no matter what kind of vehicle you drive. The mandatory auto coverages include:
Third-Party Liability Coverage
Direct Compensation Coverage
Uninsured Automobile Coverage
All-Perils Coverage
Combines coverage of collision or upset and comprehensive coverages.
Collision or Upset Coverage
Provides payment for losses caused when the insured automobile is involved in a collision with another object such as street signs or streetlights, or tips over.
Comprehensive Coverage
Provides payment for losses other than those covered by Collision or Upset, including perils listed under specified perils, falling or flying objects, missiles, and vandalism.
Loss of Vehicle Use
Provides coverage for a rental while the insured vehicle is out of use due to a covered physical damage claim.
Liability for Damage to Non-Owned Automobiles
Extends coverage for liability for loss, or damage arising from the care, custody or control of a non-owned automobile such as rental car, including its equipment, not owned by the Insured.
Removing Depreciation Deduction Endorsement
Waives depreciation if you are the original owner/lessee of the Lexus, if the loss or damage occurs within a specified period from the purchase/lease date.
Protects your EV or hybrid with mandatory Ontario coverage plus green vehicle add-ons.
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Are There Discounts Available For Lexus Auto Insurance?
If you own a Lexus, there are many car insurance discounts offered by insurance providers that you may qualify for. Some of the most popular discounts that are available for Lexus insurance include:
What is Lexus insurance?
Lexus insurance protects you and your high-value car. Your Lexus insurance will provide the mandatory auto insurance coverages for your Lexus vehicle that are required by Ontario law to ensure you are protected in the event of a claim. You have the option to increase those mandatory coverages and to add additional benefits and coverages to ensure your Lexus is protected.
Which companies offer Lexus car insurance?
There are numerous Canadian insurance companies that offer insurance for Lexus vehicles. To help save time and to make the process easier, you can work with an experienced insurance broker. Your dedicated insurance professional will provide multiple customized quotes from leading insurance companies and will personally work with you and provide guidance when determining which insurance coverage and insurance provider is best tailored to your lifestyle and type of vehicle. Work with Morison Insurance brokers and guarantee that you are properly protected!
Why is Lexus insurance so expensive?
There are many factors that contribute to the higher insurance rates for Lexus vehicles. Some of these factors include higher repair costs, luxurious features, as well as innovative technology.
The annual premium for Lexus insurance varies between insurance companies. This is why it is important to get several insurance quotes for your luxury vehicle. Get in touch with an insurance agent who will provide you with multiple competitive quotes and insurance options so that you can compare insurance prices and coverages, and choose the best option that suits your lifestyle.
