Want to save money and find the cheapest Lincoln MKC insurance in Lexington? Tired of paying out the nose to pay high auto insurance rates every month? You’re in the same situation as many other Kentucky drivers.
It’s a fact that insurance companies want to keep you from comparing prices. Insureds who shop around for cheaper rates will presumably switch companies because there is a great chance of finding a more affordable policy. A recent survey discovered that drivers who made a habit of comparing rate quotes saved on average $3,400 over four years compared to policyholders who never shopped for cheaper rates.
If finding the lowest price on auto insurance in Lexington is your objective, then knowing how to shop for insurance premiums can make it easier to find better rates. There are many insurers to insure vehicles with, and though it is a good thing to be able to choose, having more auto insurance companies makes it harder to adequately compare rates for Lincoln MKC insurance in Lexington.
Locating the most cost-effective auto insurance policy in Lexington is not that difficult. If you have a policy now or just want cheaper rates, use these money-saving tips to get lower rates while maintaining coverages. Vehicle owners just need to learn the quickest method to compare rates over the internet.
Six Things That Impact Your Insurance Premiums
Many factors are used when you quote your car insurance policy. Some of the criteria are obvious such as your driving record, but some are not quite as obvious such as your marital status or your financial responsibility.
With age comes lower prices – Teenage drivers in Kentucky are known to be inattentive with other occupants in the car therefore insurance rates are much higher. Mature drivers are more responsible, are lower risk to insure, and tend to be get fewer driving tickets.
Do you qualify for a multi-policy discount? – Some companies will award discounts to buyers who buy several policies from them in the form of a multi-policy discount. If you currently are using one company, it’s in your best interest to get quotes from other companies to verify if the discount is saving money.There is a good possibility that you can find better rates by buying insurance from a different company.
Stay claim-free and save money – If you are a frequent claim filer, you can pretty much guarantee either a policy non-renewal or much higher rates. Auto insurance companies in Kentucky give the best rates to people who are claim-free. Your car insurance is meant to be used in the event of claims that pose a financial burden.
Rates increase with driving citations – Your driving record impacts your car insurance rates tremendously. Good drivers tend to pay less for car insurance compared to bad drivers. Just one speeding ticket could increase your next policy renewal by as much as twenty percent. Drivers unfortunate enough to have license-revoking violations such as hit and run, DWI or reckless driving convictions may find that they have to to submit a SR-22 form with their state DMV in order to legally drive a vehicle.
Liability protection limits on your policy – The liability coverage on your policy will provide protection in the event that you are determined to be liable for causing damage or personal injury in an accident. Your policy’s liability insurance provides you with a defense in court to defend your case. This coverage is very inexpensive when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
Gaps in coverage mean higher insurance rates – Driving without insurance is a misdemeanor and you may have a hard time finding new coverage because you let your coverage have a gap. And not only will your rates increase, not being able to provide proof of insurance may earn you a fine, jail time, or a revoked license. You may have to file a SR-22 with the Kentucky department of motor vehicles.
Insurance loss probability for a Lincoln MKC – Insurers take into consideration historical loss data for every vehicle to calculate a rate that will offset any claims. Models that tend to have higher loss trends will be charged more to insure.
The next table illustrates the compiled insurance loss statistics for Lincoln MKC vehicles. For each policy coverage type, the claim amount for all vehicles, without regard to make or model, is represented as 100. Values that are under 100 indicate a favorable loss history, while values that are 100 or greater indicate frequent claims or statistically larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKC 4dr 2WD||97||76||69|
|Lincoln MKC 4dr 4WD||99||68||72||82|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
These discounts can lower your insurance rates
Car insurance companies don’t list all discounts in an easy-to-find place, so here is a list some of the best known and the harder-to-find discounts that you may qualify for.
- Theft Prevention Discount – Vehicles that have factory anti-theft systems have a lower chance of being stolen and qualify for as much as a 10% discount.
- Air Bags and Passive Restraints – Cars that have air bags and/or automatic seat belt systems may earn rate discounts of 25 to 30%.
- Cautious Driver Discount – Accident-free drivers can save up to 40% or more on their Lexington auto insurance quote compared to accident prone drivers.
- Claim-Free Discount – Good drivers with no accidents pay less as opposed to frequent claim filers.
- Memberships – Participating in specific professional or occupational memberships or organizations could trigger savings when getting a Lexington auto insurance quote.
- Policy Bundle Discount – If you can combine your auto and homeowners policy and insure them both with the same insurance company you will save nearly 15% which can help you find affordable Lincoln MKC insurance rates in Lexington.
- Good Student – Excelling in school can save 20 to 25%. Earning this discount can benefit you up to age 25.
- Lexington Homeowners Discount – Just owning your own home can save a few bucks because maintaining a house demonstrates responsibility.
One last thing about discounts, most of the big mark downs will not be given to all coverage premiums. Some only apply to individual premiums such as collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy. Any amount of discount will definitely reduce your policy premiums.
A list of companies and some of their more popular discounts can be read below.
- GEICO includes discounts for membership and employees, federal employee, multi-policy, anti-lock brakes, good student, air bags, and driver training.
- Auto-Owners Insurance has savings for multi-policy, safe driver, student away at school, paid in full, and paperless.
- American Family offers premium reductions for defensive driver, good driver, good student, accident-free, bundled insurance, and mySafetyValet.
- Esurance discounts include good driver, good student, safety device, defensive driver, and anti-theft.
- Progressive offers discounts for multi-vehicle, good student, continuous coverage, online quote discount, homeowner, and multi-policy.
- State Farm may offer discounts for safe vehicle, student away at school, Steer Clear safe driver discount, driver’s education, good student, and Drive Safe & Save.
- AAA has discounts for good student, multi-policy, anti-theft, AAA membership discount, pay-in-full, and multi-car.
If you need lower rates, check with every insurance company how you can save money. Some of the earlier mentioned discounts might not be offered on policies in Lexington.
Quote more and you will save more
As you prepare to switch companies, don’t be tempted to sacrifice coverage to reduce premiums. In many instances, an insured cut comprehensive coverage or liability limits only to regret at claim time they didn’t purchase enough coverage. The aim is to buy enough coverage at an affordable rate.
We’ve covered quite a bit of information on how to reduce Lincoln MKC insurance premium rates online in Lexington. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers may even find the most savings is with a small mutual company. These smaller insurers can often insure niche markets at a lower cost than their larger competitors like State Farm and Allstate.
How to buy lower priced Lincoln MKC insurance in Lexington
The preferred way to get affordable Lincoln MKC insurance is to do an annual price comparison from providers who provide car insurance in Lexington. You can compare rates by following these steps.
- Get an understanding of what is in your policy and the factors you can control to prevent high rates. Many things that cause high rates such as traffic tickets, fender benders, and your credit history can be rectified by making minor changes in your lifestyle.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or Farmers Insurance, while independent agents can quote rates from many different companies. View insurance agents
- Compare the quotes to your existing rates to see if you can save by switching companies. If you find a lower rate and switch companies, make sure coverage does not lapse between policies.
One thing to point out is that you’ll want to compare similar deductibles and liability limits on every quote request and and to get price estimates from as many car insurance companies as possible. This ensures the most accurate price comparison and plenty of rates choose from.
For more information, feel free to visit these articles:
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Who Has Cheap Car Insurance for Low Income Drivers in Lexington? (FAQ)
- Who Has Affordable Lexington Auto Insurance Rates for Real Estate Agents? (FAQ)
- How Much is Auto Insurance for Unemployed Drivers in Lexington? (FAQ)
- Who Has Affordable Car Insurance Rates for a Toyota Camry in Lexington? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Avoiding Deer Collisions (Insurance Information Institute)