I really doubt anyone looks forward to paying for auto insurance, especially when they are aware that the price is too high.
Everyone knows that car insurance companies don’t want you to look at other companies. Drivers who shop around annually are very likely to switch to a new company because of the high probability of finding a lower-cost company. A study discovered that people who regularly compared rates saved approximately $70 a month as compared to drivers who never compared other company’s rates.
If finding budget-friendly rates on car insurance is your goal, then having some insight into how to shop and compare car insurance can help you be more efficient.
Steps to buying lower priced Lincoln Mark LT insurance in Lexington
It takes a little time, but the best way to get budget Lincoln Mark LT insurance in Lexington is to compare quotes once a year from providers that sell auto insurance in Kentucky. Rates can be compared by following these steps.
Step 1: Try to comprehend the different coverages in a policy and the modifications you can make to prevent rate increases. Many factors that result in higher rates like accidents, traffic tickets, and a not-so-good credit history can be eliminated by improving your driving habits or financial responsibility.
Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like Progressive or State Farm, while independent agencies can provide prices from multiple sources. View rates
Step 3: Compare the price quotes to the price on your current policy and determine if there is any savings. If you can save money and buy the policy, verify that coverage does not lapse between policies.
Step 4: Provide notification to your current agent or company to cancel the current policy and submit the application along with any required down payment for the new coverage. Once coverage is bound, place the new proof of insurance paperwork in your glove compartment.
One key aspect when comparing rates is to try to compare identical deductibles and limits on each price quote and and to analyze as many different companies as possible. This enables an apples-to-apples comparison and a complete rate analysis.
There is such a variety of insurance companies to pick from, and although it’s nice to be able to choose, having more car insurance companies makes it harder to locate the cheapest rates for Lincoln Mark LT insurance in Lexington.
Quoting and buying affordable policy in Lexington can be fairly easy. If you are insured now or just want cheaper coverage, you can use these techniques to find the best rates without reducing coverage. Vehicle owners just need to learn the most time-saving way to compare price quotes instantly.
The most recommended method to get rate comparisons for Lincoln Mark LT insurance in Lexington is to know auto insurance companies participate in online systems to provide you with free rate quotes. All consumers are required to do is give them rating details including whether or not you need a SR-22, if the vehicle is leased, which vehicles you own, and whether you drive to work or school. The data is instantly sent to insurance companies and you should receive rate quotes almost instantly.
To start a rate quote now, click here and enter your coverage details.
The companies in the list below provide price comparisons in Kentucky. To buy cheap car insurance in KY, we suggest you visit two to three different companies to get the best price comparison.
Lexington insurance discounts
Insurance is not an enjoyable expense, but you might be missing out on some discounts that can drop the cost substantially. Certain discounts will be triggered automatically when you get a quote, but some must be specially asked for before you will receive the discount.
- Full Payment Discount – If you pay your entire premium ahead of time as opposed to paying monthly you can actually save on your bill.
- Lexington Homeowners Pay Less – Owning a home in Lexington can get you a discount since home ownership means you have a higher level of financial diligence.
- Claim-Free Discount – Insureds who avoid accidents and claims are rewarded with significantly better rates on Lexington auto insurance quote as opposed to drivers with a long claim history.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control can stop better under adverse conditions and therefore earn up to a 10% discount.
- Use Seat Belts – Drivers who require all occupants to fasten their seat belts may be able to save a few bucks off the medical payments premium.
- Discount for Multiple Policies – If you can bundle your home and auto insurance with one insurance company you may save up to 20% and get you the cheapest Lincoln Mark LT insurance in Lexington.
- Passive Restraint Discount – Cars that have air bags or motorized seat belts may get savings of more than 20%.
- Early Renewal Discounts – A few insurance companies allow discounts for buying a policy early. This can save 10% or more.
- Resident Student – Any of your kids living away from Lexington attending college and don’t have a car can receive lower rates.
- Accident Forgiveness – Not necessarily a discount, but companies like State Farm and Allstate will let one accident slide before hitting you with a surcharge with the catch being you have to be claim-free prior to the accident.
It’s important to understand that some of the credits will not apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like medical payments or collision. So when the math indicates adding up those discounts means a free policy, it doesn’t quite work that way.
To see insurance companies that offer multiple discounts in Kentucky, follow this link.
Compare rate quotes but work with a local Lexington insurance agency
A small number of people just prefer to visit with an insurance agent and that is recommended in a lot of cases Good insurance agents are highly skilled in risk management and will help you if you have claims. A nice benefit of comparing rate quotes online is you can get cheap rate quotes and still choose a local agent. Putting coverage with local insurance agents is definitely important in Lexington.
By using this short form, your coverage information is immediately sent to insurance agents in Lexington who will return price quotes and help you find cheaper coverage. It’s much easier because you don’t need to do any legwork since price quotes are sent directly to you. If you need to quote rates from a particular provider, just go to their quote page and complete a quote there.
Pick the best auto insurance agent in Lexington for you
If you want to use a local agent, it can be helpful to understand the types of agencies and how they can service your needs differently. Insurance agents are categorized either independent (non-exclusive) or exclusive. Both types can sell and service insurance coverage, but it is a good idea to know the difference between them because it can influence the kind of agent you use.
Independent Insurance Agents (or Brokers)
Agents that elect to be independent do not have single company limitations so they can quote policies with lots of companies and potentially find a lower price. To move your coverage to a new company, your agent can switch companies and you won’t have to switch agencies.
When searching for an agent, you absolutely need to check rates from a few independent agents to get the best comparison.
Featured below is a partial list of independent insurance agents in Lexington who may provide free rate quotes.
Nationwide Insurance: Tim Hamilton Insurance Agency Inc
401 Lewis Hargett Cir #130 – Lexington, KY 40503 – (859) 276-1234 – View Map
Exclusive Insurance Agencies
Agents of this type can only provide one company’s prices like Allstate and State Farm. Exclusive agents cannot provide prices from multiple companies so they have no alternatives for high prices. These agents are usually well trained on their company’s products which helps them sell on service rather than price.
Listed below are exclusive insurance agents in Lexington willing to provide rate quotes.
Choosing an insurance agency needs to be determined by more than just a cheap quote. These are valid questions to ask:
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Are they able to influence company decisions when a claim is filed?
- Is the agent CPCU or CIC certified?
- Will you get a loaner vehicle if you car is being repaired?
Different people need different insurance coverages
When quoting and choosing insurance from an agent or online for your personal vehicles, there really isn’t a best way to insure your cars. Your needs are unique to you and your insurance should unique, too.
These are some specific questions may help highlight if your situation would benefit from an agent’s advice.
- Do I benefit by insuring my home with the same company?
- Are rock-chip repairs free?
- Do I need PIP (personal injury protection) coverage in Kentucky?
- I have good health insurance, so how much medical payments coverage do I need?
- Is my nanny covered when driving my vehicle?
- Does my policy pay for OEM or aftermarket parts?
- Will I lose any money if I cancel my policy before it expires?
If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and you can get the answers you need.
How You Can Control Lincoln Mark LT Insurance Rates
Multiple criteria are considered when you get your auto insurance bill. Some are pretty understandable such as your driving history, although others are less obvious such as whether you are married and annual miles driven. The best way to find cheaper auto insurance is to take a look at the rating factors that go into determining your auto insurance rates. When you understand what influences your rates, this helps enable you to make changes that may result in lower rates.
The factors shown below are some of the things used by insurance companies to determine premiums.
Single vs. married – Your spouse helps lower the price on your auto insurance policy. Having a significant other means you’re less irresponsible and it’s statistically proven that being married results in fewer claims.
Younger drivers cost more – Young drivers in Kentucky have been known to be more careless when behind the wheel therefore auto insurance rates are much higher. More mature drivers are more cautious drivers, are lower risk to insure, and tend to be get fewer driving tickets.
Vehicle options impact premiums – Choosing to buy a car that has a built-in theft deterrent system can save you some money. Theft prevention devices like OnStar, LoJack tracking, and tamper alarms all help stop your vehicle from being stolen.
Cheaper rates with high coverage deductibles – Physical damage deductibles are the amount of money you are required to pay before a claim is paid by your company. Physical damage insurance, aka comp and collision, insures against damage to your car. Some examples of covered claims would be colliding with a stationary object, fire damage, and having a roll-over accident. The higher the amount you’re willing to pay, the bigger discount you will receive.
Protect yourself with liability – A critical coverage on your policy, liability insurance provides coverage if a jury decides you are liable for causing personal injury or damage in an accident. Liability provides legal defense coverage to defend your case. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
Rates for men may be higher – The statistics show that females take fewer risks when driving. This data doesn’t prove that women are BETTER drivers than men. They both cause fender benders in similar numbers, but men have accidents that have higher claims. Men also receive more costly citations like driving under the influence (DUI).
Premiums go up with performance – The performance of the car, truck or SUV you are buying insurance for makes a significant difference in the rate you pay. The lowest performance passenger models generally receive the lowest base rates, but many other things help determine your insurance rates.
Only buy what you need – There are a ton of extra bells and whistles you can purchase on your auto insurance policy. Insurance for personal injury protection, accident forgiveness, and membership fees are some examples. They may seem like a good idea initially, but if you have no use for them eliminate the coverages to reduce your premium.
Car insurance does more than just repair your car
Even though Lexington Mark LT insurance rates can get expensive, maintaining insurance may be mandatory for several reasons.
- Just about all states have minimum liability requirements which means you are required to carry a specific minimum amount of liability insurance coverage in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a loan, almost all lenders will stipulate that you buy insurance to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may buy a policy for your Lincoln at a more expensive rate and force you to pay for the much more expensive policy.
- Insurance protects both your assets and your Lincoln. It also can pay for many types of medical costs for yourself as well as anyone injured by you. One policy coverage, liability insurance, will also pay attorney fees if someone files suit against you as the result of an accident. If your Lincoln gets damaged, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance are definitely more than the cost, especially for larger claims. The average driver in America is wasting up to $700 annually so you should quote rates each time the policy renews to be sure current rates are still competitive.
The lowest rates come from being thorough
Cheap Lincoln Mark LT insurance in Lexington is possible on the web in addition to many Lexington insurance agents, and you should compare price quotes from both to get a complete price analysis. Some insurance providers do not provide online price quotes and most of the time these small insurance companies only sell coverage through independent agencies.
We just presented some good ideas how you can find lower-cost Lincoln Mark LT insurance in Lexington. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest priced insurance comes from a small local company. Some small companies may often insure only within specific states and give better rates compared to the large companies like State Farm, GEICO and Nationwide.
Steps to finding the cheapest rates for Lincoln Mark LT insurance in Lexington
If you want to find the absolute lowest rates, then the best way to find cheaper prices for Lincoln Mark LT insurance in Lexington is to compare quotes once a year from insurance carriers that insure vehicles in Kentucky. Prices can be compared by following these steps.
- Step 1: Read about how auto insurance works and the modifications you can make to keep rates in check. Many policy risk factors that drive up the price like high-risk driving behaviors and an imperfect credit history can be improved by making small lifestyle or driving habit changes.
- Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agencies can give you price quotes from multiple companies.
- Step 3: Compare the price quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a better price and change companies, verify that coverage does not lapse between policies.
- Step 4: Provide notification to your current agent or company of your intention to cancel your current car insurance policy. Submit a signed application and payment to the newly selected company. As soon as you can, place the new certificate verifying proof of insurance along with the vehicle’s registration papers.
A good tip to remember is to try to compare the same coverage limits and deductibles on each quote request and and to get rates from all possible companies. This enables the most accurate price comparison and the best rate selection.
To read more, take a look at the resources below:
- Uninsured Motorist Statistics (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Drivers Under 25 in Lexington? (FAQ)
- Who Has Affordable Car Insurance Quotes for Single Moms in Lexington? (FAQ)
- How Much is Auto Insurance for Unemployed Drivers in Lexington? (FAQ)
- Red Light Cameras (State Farm)
- Child Safety Seats (Insurance Information Institute)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)