Save Money on Lincoln MKT Insurance in Lexington

Are you looking for more competitive Lincoln MKT insurance in Lexington? Paying cheaper premium rates for Lincoln MKT insurance in Lexington can seem to be kind of frustrating for people who are beginners to online comparison shopping. Because there are so many online companies, it can easily turn into a difficult mission to find more affordable Lincoln MKT insurance rates.

Insurance for Lincoln MKTUnfortunately, most Kentucky car insurance customers have stayed with the same insurance company for over three years, and almost 40% of drivers have never compared rate quotes at all. Most drivers in the United States could save themselves roughly 46.5% a year by just comparing rate quotes, but they just assume it’s a time-consuming process to do a rate comparison.

You should make it a habit to quote other rates before your policy renews because car insurance prices change frequently. Even if you got the best rates on Lincoln MKT insurance in Lexington two years ago you can probably find a better rate quote now. There is a lot of bad advice regarding MKT insurance on the internet, but in just a couple of minutes you can learn some solid techniques on how to lower your car insurance rates in Lexington.

The quickest method to compare car insurance rates for Lincoln MKT insurance in Lexington is to take advantage of the fact almost all companies allow for online access to give free rates quotes. The only thing you need to do is provide a small amount of information like which vehicles you own, if you went to college, your job, and if you are currently licensed. That rating data gets transmitted to insurance companies and you receive quotes almost instantly.

To start a rate quote now, click here and find out if lower rates are available in Lexington.

The companies in the list below can provide free rate quotes in Lexington, KY. To locate cheaper auto insurance in Lexington, KY, it’s a good idea that you visit as many as you can in order to find the most affordable rates.

Insurance policy discounts you can’t miss

Some companies do not advertise all discounts very well, so the list below details a few of the more well known and the more hidden savings tricks you should be using when you buy Lexington auto insurance online.Discount insurance

Remember that some of the credits will not apply to all coverage premiums. The majority will only reduce individual premiums such as comp or med pay. Even though the math looks like all the discounts add up to a free policy, it doesn’t quite work that way.

The illustration below visualizes the comparison of Lincoln MKT auto insurance costs with and without discounts. The price estimates are based on a male driver, no accidents, no driving violations, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, claim-free, safe-driver, multi-car, and homeowner discounts applied.

Companies and some of their more popular discounts include:

Before buying, ask each company to give you their best rates. Some of the earlier mentioned discounts may not apply in Lexington.

Rates and statistics

The data table shown below highlights detailed analysis of insurance coverage prices for Lincoln MKT models. Having knowledge of how rates are calculated is important for you to make decisions when choosing a new policy provider.

Lincoln MKT Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $318 $500 $368 $22 $110 $1,318 $110
MKT 3.7 AWD $350 $576 $368 $22 $110 $1,426 $119
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rate information does not factor in the specific area where the vehicle is garaged which can affect price quotes significantly.

Analysis of deductible levels

The hardest decision when buying coverage is which comprehensive and collision deductibles to buy. The figures shown below may help to conceptualize the costs and benefits when you buy lower versus higher coverage deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second pricing table uses a $500 deductible.

Lincoln MKT insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $354 $598 $368 $22 $110 $1,477 $123
MKT 3.7 AWD $390 $688 $368 $22 $110 $1,603 $134
Get Your Own Custom Quote Go

Lincoln MKT insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $258 $404 $368 $22 $110 $1,162 $97
MKT 3.7 AWD $284 $466 $368 $22 $110 $1,250 $104
Get Your Own Custom Quote Go

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Price information does not factor in specific garaging location which can raise or lower premiums substantially.

We can estimate from the data above that using a $100 deductible costs an average of $28 more each month or $336 for a full year than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 14 months between claim filings, you would probably be better off by going with a higher deductible. The illustration below shows a better example of how this calculation is made.

Average monthly premium for $100 deductibles: $129
Average monthly premium for $500 deductibles (subtract): – $101
Monthly savings from raising deductible: $28
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One thing to be aware of is that a higher deductible means you will have to pay more out-of-pocket when you have a claim. You need to make sure you have enough disposable income in the event you need to pay the higher deductible in order to repair your vehicle.

The chart below illustrates how choosing a deductible and can raise or lower Lincoln MKT insurance premiums for different categories of driver ages. The data is based on a single male driver, full physical damage coverage, and no other discounts are factored in.

Lincoln MKT liability-only versus full coverage

The example below illustrates the comparison of Lincoln MKT auto insurance costs with full coverage and liability only. The price estimates are based on no violations or accidents, $100 deductibles, drivers are not married, and no discounts are taken into consideration.

Should you buy full coverage or liability only?

There is no specific rule to drop physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Lincoln MKT book value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,000 after paying the physical damage deductible. If you are paying in excess of $300 a year for full coverage, then you may want to consider only buying liability coverage.

There are some cases where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Lower the Price of Auto Insurance with These Tips

Many things are considered when pricing auto insurance. Most are fairly basic such as your driving record, but other criteria are not as apparent like your continuous coverage or your vehicle rating.

The items below are a few of the “ingredients” companies use to determine rates.

Buying insurance from Lexington insurance agents

Some consumers just want to have an agent’s advice and that is OK! A nice benefit of price shopping on the web is that you can obtain the lowest rates and still buy from a local agent.

Insurance agency in LexingtonOnce you complete this quick form, the coverage information gets sent to participating agents in Lexington who can give free rate quotes for your insurance coverage. You don’t have to contact any insurance agencies because quoted prices will be sent to you instantly. Get lower rates without requiring a lot of work. If you have a need to get a rate quote from a specific company, feel free to go to their quote page and complete a quote there.

Selecting an insurance company requires more thought than just the quoted price. These are valid questions to ask:

The following is a short list of insurance companies in Lexington that may be able to provide rate quotes for Lincoln MKT insurance in Lexington.

View more agents

Best car insurance company in Lexington

Buying coverage from the highest-rated auto insurance company can be rather challenging considering how many different companies there are to choose from in Lexington. The rank data below can help you select which auto insurers to look at comparing price quotes from.

Top 10 Lexington Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Allstate
  3. Nationwide
  4. State Farm
  5. GEICO
  6. Liberty Mutual
  7. American Family
  8. Esurance
  9. AAA Insurance
  10. The Hartford

A little work can save a LOT of money

Low-cost Lincoln MKT insurance in Lexington is definitely available on the web and with local Lexington insurance agents, so you should be comparing quotes from both to get a complete price analysis. A few companies may not offer online price quotes and most of the time these regional carriers only sell coverage through independent insurance agencies.

While you’re price shopping online, you should never reduce coverage to reduce premium. In many cases, consumers will sacrifice full coverage only to discover later that it was a big mistake. Your focus should be to find the BEST coverage at the best cost but still have enough coverage for asset protection.

You just learned many ways to shop for Lincoln MKT insurance online. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Consumers may even find the lowest prices come from a small mutual company.

Steps to saving on Lincoln MKT insurance in Lexington

It takes a few minutes, but the best way to save on Lincoln MKT insurance in Lexington is to do an annual price comparison from insurance carriers who provide car insurance in Kentucky. Rates can be compared by following these guidelines.

  1. It will benefit you to learn about how your policy works and the factors you can control to keep rates in check. Many policy risk factors that cause high rates like speeding tickets, accidents and a low credit score can be amended by making lifestyle changes or driving safer.
  2. Request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive and State Farm, while independent agents can quote prices for many different companies.
  3. Compare the new quotes to your current policy to determine if switching companies saves money. If you find a lower rate, ensure there is no coverage lapse between policies.
  4. Provide written notification to your current company of your decision to cancel your current auto insurance policy. Submit payment along with a signed and completed policy application to your new company or agent. Immediately safely store the certificate of insurance along with your vehicle registration.

One piece of advice is to try to compare the same physical damage deductibles and liability limits on each quote and and to get rate quotes from as many auto insurance providers as possible. Doing this ensures the most accurate price comparison and a good representation of prices.

To read more, feel free to visit the resources below: