New Lexus insurance products for RZ 450e and LBX

Lexus vehicle insurance

Lexus vehicle insurance is designed to provide the best possible customer ownership experience. Which is why we are progressing from the concept of universal-type policies to new, innovative insurance products that are tailored to individual models and individual policyholders’ driving styles.

Launched in 2024, the two new cover packages highlighted below are for owners of the all-electric RZ 450e and compact LBX hybrid crossover models. They offer increased value through end-of-year refunds and renewal discount opportunities. These are in addition to the comprehensive benefits that are included in all Lexus vehicle insurance policies.

Lexus vehicle insurance

Mileage-based insurance for Lexus RZ 450e

Our new mileage-based insurance is specifically designed for the RZ 450e and offers customers the potential for an end-of-year refund. The amount of refund will be specific to each individual and is calculated by comparing the mileage that was forecasted by the customer at the beginning of the policy term with the actual distance covered by the vehicle during the policy term. The idea is that you will only ever be charged for the miles you drive.

With the owner’s prior agreement, the mileage is accurately monitored via the car’s data communication module. This discreet unit is fitted as standard to all new vehicles, so there is no need for any additional hardware to be installed. We will not be looking at how, when or where the customer is driving.

Terms and conditions and full details of this innovative insurance product can be found by clicking here:

Lexus LBX Hybrid Insurance

Lexus LBX Hybrid Insurance is a new kind of cover for an all-new model. It provides all the established benefits of Lexus vehicle insurance but with the opportunity for private customers to receive a discount of up to 10% on their renewal premium, based on the distance driven in all-electric EV mode during the policy year.

Lexus vehicle insurance

As with the new RZ insurance above, the car’s data communication module allows us to remotely monitor the miles travelled in EV mode. When the time comes for the policy to be renewed, that distance is used to calculate the discount the policyholder may be eligible for on their renewal premium. In order to receive the maximum discount of 10% the vehicle must have travelled at least 57% of its total annual mileage in EV mode.

Policy holders can monitor their all-electric performance using the Lexus Link+ app, which shows in clear graphics the mileage and percentage of EV driving as well as the predicted discount to be applied come renewal time. The policy period dates are also clearly shown.

Full details and terms and conditions can be found by clicking here:

Learn more: What are the benefits of Lexus vehicle insurance?

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