About Lexus Car Insurance
Lexus vehicles portray a sense of sophistication and grace – and that luxury appeal comes with a high-end price tag to match. Luckily, Lexus car insurance doesn’t have to break the bank.
At MyChoice, we can help you compare quotes from leading Canadian insurance providers in minutes. We have helped countless Lexus owners find affordable car insurance, and we can help you, too.
How Much Does it Cost to Insure Your Lexus in Canada?
On average, it costs around $1,192 per year to insure your Lexus in Canada. The price will vary depending on your Lexus model, year make, region you’re living in and your driving history.
Here’s how much it would cost you on average to insure your Lexus in the following cities in Canada:
| City | Average Annual Insurance Premium |
|---|---|
| Toronto, ON | $1,981 |
| Hamilton, ON | $1,536 |
| Brantford, ON | $1,521 |
| Ottawa, ON | $1,333 |
| Welland, ON | $1,288 |
| Edmonton, AB | $1,308 |
| Medicine Hat, AB | $1,036 |
| Montreal, QC | $741 |
| Halifax, NS | $1,227 |
| Fredericton, NB | $767 |
How Lexus Car Insurance Costs Compare to Similar Vehicle Brands
When selecting a vehicle, many potential buyers often weigh the insurance rates of different brands, including Lexus, against each other. Insurance costs can significantly influence the decision-making process.
Based on internal customer quote data, our analysis places Lexus’s insurance rates in the lower range of luxury brands. With an average premium of $1,192, Lexus’s rates are more affordable than Audi and BMW, but slightly lower than Tesla. Here’s a brief comparison:
Lexus Car Insurance Rates Through The Years
For the past few years, Lexus vehicle insurance rates have experienced fluctuations. After a decline until 2022, premiums rose again in 2023 and continued to increase in 2024. Here’s an updated overview of Lexus insurance premiums in recent years:
Lexus Car Insurance Rates by Model & Year Make
When insuring your Lexus, the model you choose significantly impacts the insurance rates. Our detailed analysis below provides a comprehensive view of the insurance costs for various Lexus models from different years.
A Brief History of Lexus
Started in 1983 as a new branch of the well-known Toyota company, Lexus was born out of export restrictions from Japan. With a limited number of automobiles allowed out of the country, manufacturers aimed only to send out expensive models—and Lexus was all about luxury.
Lexus really hit its stride in 1989, when it first rolled out the ES300, and SC 300. These sport coupes were stylish and fun, and people loved the luxury feel combined with a smooth ride. In 1991, Lexus beat both Mercedes Benz and BMW in turnover, coming out of the gate strong and establishing itself quickly in a notoriously competitive field.
In the late 1990s, Lexus began expanding beyond the sports coupe. Its niche moved into sports utility vehicles instead, opening up a new market for itself. By the 2000s, the company began to consider the need to be more eco-friendly and reduce emissions.
Lexus has proven decade after decade that it can evolve with the times, which is one reason it is such a popular brand, but it is also a big influence on the variations in Lexus car insurance, which fluctuate wildly depending on the year and model.
Most Popular Lexus Vehicles
Lexus vehicles are a popular choice nationwide. As these cars are associated with luxury and high living, many consider them to be status symbols. Some Canadians like the sports coupe Lexus varieties, and use these beauties as summer cars.
However, given the rough weather, many prefer the newer sports utility vehicles. In fact, two of the most popular Lexus models in Canada happen to be SUVs.
Lexus Insurance FAQs
Which Lexus model is the least expensive to insure?
The 2019 Lexus GX460 is the least expensive model to insure in Canada, with an annual average premium of $939.
Do Lexus vehicles have a good safety rating?
Lexus currently has a good safety rating, which is why even though they make luxury sports coupes, Lexus car insurance is reasonable—but that’s a recent development.
As of 2024, Lexus gets at least four or five stars for the National Highway Traffic Safety Administration (NHTSA). All the company’s models come standard with excellent safety equipment, like adaptive cruise control, intuitive emergency brakes, and impact protection.