Car Insurance Rate Quotes for a Lincoln MKS in Lexington

Shockingly, the majority of drivers have been with the same company for at least the last four years, and approximately 38% of consumers have never even shopped around for cheap coverage. With the average auto insurance premium being $2,130, Lexington drivers could save about 30% a year by just shopping around, but they don’t want to take the time to compare other rate quotes.

Truthfully, the best way to get the cheapest auto insurance rates is to compare quotes once a year from insurers who can sell car insurance in Lexington. Prices can be compared by following these steps.

• First, spend some time learning about the different coverages in a policy and the things you can change to keep rates in check. Many policy risk factors that increase rates like careless driving and an unacceptable credit score can be amended by making lifestyle changes or driving safer. Later in this article we will cover tips to prevent expensive rate increases and find overlooked discounts.
• Second, request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like Progressive or Allstate, while independent agents can give you price quotes for many different companies.
• Third, compare the quotes to your current policy and determine if cheaper MKS coverage is available. If you find better rates and buy the policy, ensure coverage does not lapse between policies.
• Fourth, provide written notification to your current company of your intention to cancel your existing policy and submit any necessary down payment along with the completed application to the new insurer. Make sure you place the new certificate of insurance with your vehicle’s registration.

The key aspect of shopping around is that you use the same liability limits and deductibles on each quote and and to compare as many carriers as you can. This guarantees a level playing field and the best price selection.

If you have coverage now or are just looking to switch companies, use these cost-cutting techniques to save money and still have adequate protection. Locating the best rates in Lexington is easy if you know what you’re doing. Vehicle owners only need an understanding of the most efficient way to compare different rates using one simple form.

Most companies allow you to get pricing direct online. Comparing prices online for Lincoln MKS insurance in Lexington is pretty easy as all you need to do is type in your coverage information as detailed in the form. Once you submit the form, their system makes automated requests for your driving record and credit report and generates a price based on the data you entered. The ability to get online quotes for Lincoln MKS insurance in Lexington makes it a lot easier to compare rates and it’s also necessary to perform this step if you want to get a lower rate.

To fill out one form to compare multiple rates now, take a look at the companies shown below. If you currently have coverage, we recommend you duplicate the limits and deductibles as close as possible to your current policy. Using the same limits helps guarantee you will get comparison quotes for similar coverage.

The car insurance companies shown below provide price quotes in Lexington, KY. If multiple companies are listed, it’s a good idea that you visit two to three different companies in order to find the most competitive rates.

Rates and other information

The price information displayed next covers different rate quotes for Lincoln MKS models. Learning how premiums are calculated helps drivers make decisions when shopping your coverage around.

Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Table data does not factor in specific zip code location which can change coverage rates considerably.

Higher deductibles lower rates

A question often asked by Lexington drivers is how high or low should comp and collision deductibles be. The tables below show the price difference when you select higher and lower insurance deductibles. The first rate comparisons uses a $100 deductible for comp and collision and the second rate table uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rate quotes do not factor in specific garaging location which can change premiums greatly.

Based on these figures, using a $100 deductible will cost in the ballpark of $30 more each month or $360 for a full year than choosing the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you have at a minimum 13 months between claims, you would most likely save money if you choose the higher deductible.

The information below shows how choosing a deductible and can affect Lincoln MKS annual premium costs for different age categories. The premiums are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.

Difference between liability only and full coverage rates

The example below illustrates the difference between Lincoln MKS auto insurance costs with full physical damage coverage compared to only buying liability only. The data is based on no accidents, no driving violations, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Should you be buying full coverage?

There is no set rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let’s pretend your Lincoln MKS claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $2,000 after paying your deductible. If you are paying over $200 annually for full coverage, then you might want to think about dropping full coverage.

There are some situations where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not buy liability only.

Insurance agent or online?

A small number of people would rather go talk to an agent and that is not a bad decision Good insurance agents will help you protect your assets and help you file claims. One of the benefits of comparing rate quotes online is the fact that you can find lower car insurance rates and also buy local. Putting coverage with local insurance agencies is still important in Lexington.

After completing this simple form, your information is sent to agents in your area who will give you bids to get your business. You don’t have to contact any agents because prices are sent to you. If you wish to compare rates from a specific auto insurance provider, just search and find their rate quote page and give them your coverage information.

The type of auto insurance agent you choose is important

If you are wanting to find a reliable agent, it’s helpful to know the different types of agents and how they can write your policy. Agents in Lexington can be classified as either independent agents or exclusive agents. Either one can sell and service auto insurance coverage, but it’s important to know the subtle differences because it can influence your agent selection.

Independent Agents (or Brokers)

Agents of this type are not limited to a single company and that is an advantage because they can write policies amongst many companies enabling the ability to shop coverage around. If prices rise, your agent can just switch to a different company and that require little work on your part. When searching for an agent, we recommend you compare prices from several independent agencies to have the best price comparison.

Below is a short list of independent agents in Lexington that may be able to give you price quotes.

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Exclusive Auto Insurance Agents

These agents write business for a single company and some examples include Farmers Insurance or State Farm. These agents are unable to compare other company’s rates so it’s a take it or leave it situation. They are trained well on their products and sales techniques which helps them sell insurance even at higher premiums.

Listed below is a short list of exclusive insurance agencies in Lexington willing to provide rate quotes.

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Picking an insurance agency requires you to look at more than just a cheap price quote. These are some valid questions you should ask.

• Did they already check your driving record and credit reports?
• Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
• Can they help ensure a fair claim settlement?
• What company do they have the most business with?
• Do the companies they represent have a solid financial rating?
• Can glass claims be handled at your home?
• Is assistance available after office hours?

After getting good feedback to these questions as well as a price you’re happy with, most likely you have located an insurance agency that will adequately provide auto insurance.

Best car insurance company in Kentucky

Choosing the top auto insurance company is hard considering how many choices drivers have in Kentucky. The company information below could help you select which car insurance companies you want to consider to insure your vehicles.

Top 10 Lexington Car Insurance Companies Ranked by Value

1. Travelers
2. American Family
3. AAA Insurance
4. Safeco Insurance
5. Progressive
6. The Hartford
7. Erie Insurance
8. The General
9. Esurance
10. 21st Century