Compare Lincoln MKZ Insurance Quotes in Lexington

Insurance for Lincoln MKZThe recommended way to get the cheapest car insurance rates is to start doing a yearly price comparison from insurers who provide car insurance in Lexington. This can be done by following these steps.

Step 1: Spend a few minutes and learn about what is in your policy and the things you can control to prevent high rates. Many rating factors that cause high rates such as getting speeding tickets and a substandard credit history can be improved by making minor driving habit or lifestyle changes.

Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like Progressive or State Farm, while independent agencies can quote rates for many different companies.

Step 3: Compare the price quotes to the price on your current policy to see if switching to a new carrier will save money. If you can save money and make a switch, ensure there is no coverage lapse between policies.

One thing to point out is to make sure you’re comparing the same level of coverage on each quote request and and to compare as many carriers as you can. Doing this helps ensure an apples-to-apples comparison and maximum price selection.

It goes without saying that car insurance companies want to keep you from shopping around. Consumers who get price quotes annually will presumably move their business because there is a great chance of getting low-cost coverage. A survey found that consumers who shopped around annually saved about $70 a month compared to drivers who never shopped around for lower prices.

If finding discount rates on Lincoln MKZ insurance is your ultimate objective, then learning a little about the best way to compare insurance rates can help make the process easier and more efficient.

Getting a cheaper price on insurance is surprisingly easy. All you need to do is spend a little time comparing rates from some recommended companies.

The companies in the list below offer comparison quotes in Lexington, KY. To locate cheaper car insurance in Kentucky, we suggest you visit as many as you can in order to get a fair rate comparison.

Insurance coverage analysis

The price information shown next showcases detailed analysis of policy rates for Lincoln MKZ models. Learning a little about how policy rates are calculated can be useful when making informed decisions when comparing rates.

Lincoln MKZ Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $284 $576 $368 $22 $110 $1,360 $113
MKZ AWD 4-Dr Sedan $284 $576 $368 $22 $110 $1,360 $113
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Estimates do not factor in specific zip code location which can raise or lower prices noticeably.

Policy deductible comparison

The hardest decision when buying coverage is the level to set your comp and collision deductibles. The rates shown below highlight the premium difference when you buy lower versus higher deductibles. The first price estimate table uses a $250 deductible and the second price chart uses a $1,000 deductible.

Lincoln MKZ insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $284 $576 $368 $22 $110 $1,385 $115
MKZ AWD 4-Dr Sedan $284 $576 $368 $22 $110 $1,385 $115
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Lincoln MKZ insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $176 $362 $368 $22 $110 $1,038 $87
MKZ AWD 4-Dr Sedan $176 $362 $368 $22 $110 $1,038 $87
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Price estimates do not factor in vehicle location which can lower or raise rates noticeably.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs approximately $28 more each month or $336 annually than requesting the higher $1,000 deductible. Since you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at least 27 months between claims, you would save money if you opt for a higher deductible. Here’s a better example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $115
Average monthly premium for $1,000 deductibles (subtract): – $87
Monthly savings from raising deductible: $28
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 27 months

The example below illustrates how your deductible choice and can influence Lincoln MKZ premium costs for different ages of insureds. Data assumes a married female driver, comp and collision included, and no discounts are applied to the premium.

Age-based insurance rates by gender in Lexington

The example below illustrates the comparison of Lincoln MKZ yearly insurance costs for male and female drivers. Data assumes no violations or accidents, full coverage, $1,000 deductibles, drivers are single, and no discounts are factored in.

Cost difference between full coverage and liability

The diagram below illustrates the comparison of Lincoln MKZ insurance costs with full coverage and liability only. The price estimates are based on no claims or violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.

When to stop buying comprehensive and collision coverage

There is no specific rule for excluding physical damage coverage, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s say your Lincoln MKZ claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after paying the physical damage deductible. If it’s costing you more than $400 a year for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some circumstances where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.

Shop online but buy locally

Some consumers just want to sit down and talk to an agent and that is OK! Good agents can point out coverage gaps and help file insurance claims. A good thing about comparing rates online is you may find cheap insurance quotes and still buy from a local agent.

Insurance agents in LexingtonAfter filling out this form (opens in new window), your insurance data is sent to local insurance agents in Lexington that can give you free Lexington auto insurance quotes to get your business. You won’t need to contact an agency because quoted prices will be sent to you instantly. If you need to get a comparison quote from a specific insurance provider, feel free to navigate to their website and complete a quote there.

Picking the best insurance company shouldn’t rely on just the bottom line cost. Any agent in Lexington should be willing to answer these questions.

If you are wanting to purchase insurance from a good insurance agency, it helps to know the two different types of agents that you can choose from. Agents are categorized either exclusive agents or independent agents. Both sell insurance policies, but it’s a good idea to understand why they differ since it could factor into the type of agent you choose.

Exclusive Insurance Agents

Exclusive agencies can only write with one company and some examples include Allstate, State Farm and Farm Bureau. These agents are unable to provide other company’s prices so if the price isn’t competitive there isn’t much they can do. These agents are very knowledgeable on their company’s products which helps them compete with independent agents. Some people will only buy insurance from these agents primarily because of the brand and the convenience of having all coverages with one company.

Listed below is a list of exclusive agencies in Lexington that are able to give price quotes.

More Lexington agents

Independent Agents

Independent agencies are not limited to a single company so they have the ability to put coverage through many companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, they simply move the coverage in-house and that require little work on your part. When comparing rate quotes, we recommend you get rate quotes from a couple of independent agencies to get the best comparison. A lot of them also have access to additional companies that you may not be familiar with who may have lower rates.

Listed below are Lexington independent agencies that are able to give comparison quotes.

More Lexington agents

Upon receiving satisfactory answers for all questions you ask as well as an affordable premium quote, most likely you have located an auto insurance agent that is professional and can service your policy. Just remember you are able to terminate coverage for any reason so don’t assume that you’re stuck with a policy for the entire policy term.

Best car insurance company in Kentucky

Picking a highly-rated insurance company is difficult considering how many companies are available to choose from in Lexington. The rank data below may help you decide which auto insurers you want to consider comparing rates with.

Top 10 Lexington Car Insurance Companies by A.M. Best Rank

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Erie Insurance – A+
  6. Esurance – A+
  7. Progressive – A+
  8. Nationwide – A+
  9. The Hartford – A+
  10. Allstate – A+

Top 10 Lexington Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. AAA Insurance
  4. Nationwide
  5. Safeco Insurance
  6. Progressive
  7. State Farm
  8. The Hartford
  9. The General
  10. Esurance