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.

Unfortunately, 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.

• Drive Less and Save – Maintaining low annual mileage may allow you to get lower insurance rates on the low mileage vehicles.
• Early Signing – Some companies give discounts for buying a policy before your current MKT insurance policy expires. You can save around 10% with this discount.
• Anti-theft Discount – Vehicles that have factory anti-theft systems have a lower chance of being stolen and that can save you a little bit as well.
• Bundled Policy Discount – If you have multiple policies with the same insurance company you may earn approximately 10% to 15%.
• Student Discount for Driver Training – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school or through a local driver safety program.
• Driver Safety – Successfully completing a defensive driver course may get you a small discount and make you a better driver.
• First Accident Forgiveness – This one isn’t a discount, but companies like Liberty Mutual, GEICO and Allstate will turn a blind eye to one accident without raising rates so long as you are claim-free for a specific time period.
• Seat Belt Discounts – Drivers who require all vehicle occupants to buckle up could save 15% on the premium charged for medical payments and/or PIP.
• Savings for New Vehicles – Buying a new car instead of a used MKT may earn a small discount compared to insuring an older model.
• Good Student – A discount for being a good student can earn a discount of 20% or more. You can use this discount normally well after school through age 25.

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:

• Mercury Insurance includes discounts for anti-theft, good student, ease of repair, multi-policy, and low natural disaster claims.
• Farmers Insurance discounts include switch companies, distant student, teen driver, early shopping, mature driver, electronic funds transfer, and youthful driver.
• Farm Bureau has savings for youthful driver, good student, renewal discount, multi-vehicle, and 55 and retired.
• State Farm may offer discounts for student away at school, safe vehicle, good student, driver’s education, Steer Clear safe driver discount, multiple policy, and multiple autos.
• Allstate may include discounts for eSmart discount, good student, premier plus, FullPay discount, 55 and retired, auto/life discount, and early signing.
• GEICO offers premium reductions for defensive driver, membership and employees, good student, anti-lock brakes, federal employee, and multi-policy.

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.

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.

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.

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.

• Age of drivers – Older, more experienced drivers are viewed as being more responsible, file fewer claims, and receive fewer citations. Beginning drivers tend to be less responsible when driving therefore auto insurance rates are much higher.

  The data below uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.

• Insurance rates for married couples – Having a spouse may cut your premiums on your auto insurance bill. Marriage demonstrates that you tend to be less irresponsible and insurance companies reward insureds because drivers who are married are more cautious.
• Only buy what you need – Insurance policies have a lot of extra bells and whistles that you can buy on your MKT policy. Add-on coverages like vanishing deductibles, accidental death, and motor club memberships are examples of these. They may seem like a good idea when talking to your agent, but if you have no use for them eliminate the coverages to reduce your premium.

• Males tend to take more risk – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that males are worse at driving than females. Males and females tend to get into fender benders in similar numbers, but the male of the species get into accidents with more damage. Not only are claims higher, but men have more aggressive citations such as DWI and reckless driving. Young men ages 16 to 20 are several times more likely to be in an accident and therefore have the most expensive auto insurance rates.

  The chart below visualizes the comparison of Lincoln MKT insurance prices for male and female drivers. The data is based on no tickets, no at-fault accidents, full physical damage coverage, $100 deductibles, single marital status, and no other discounts are factored in.

• Drive less and save – The more miles you rack up on your Lincoln every year the higher your rate. A lot of companies price each vehicle’s coverage based upon how the vehicle is primarily used. Cars and trucks that do not get driven very much can get a lower rate than cars that get driven a lot. Having an incorrect usage rating on your MKT is throwing money out the window. Double check that your auto insurance declarations sheet properly reflects the correct driver usage, because it can save money.
• Your liability limits – The liability coverage on your policy is the protection if ever you are found liable for causing personal injury or damage in an accident. Liability provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so do not skimp.
• When should you file policy claims? – Auto insurance companies in Kentucky give better rates to drivers who do not rely on their insurance for small claims. If you file claims often, you can definitely plan on much higher rates or policy non-renewal. Your insurance policy is intended to be relied upon for major claims that would cause financial hardship.
• Pay more of a claim out-of-pocket – Comprehensive and collision coverage deductibles state the amount of money you are required to spend out-of-pocket in the event of a claim. Coverage for physical damage, also called ‘full coverage’, is used to repair damage to your car. A few examples of covered claims are colliding with a stationary object, damage from fire, and damage from wind. The more expense you pay before a claim is paid (deductible), the better rate you will receive.

• Lincoln MKT claim probability – Companies study historical loss data in order to profitably underwrite each model. Vehicles that the data determines to have higher losses will cost more for coverage. The information below illustrates the insurance loss data used by companies for Lincoln MKT vehicles.

  For each type of coverage, the statistical loss for all vehicles, regardless of make or model, is equal to 100. Percentages below 100 mean the vehicle has better than average losses, while values that are above 100 point to more frequent losses or statistically larger losses.

  
  

  Auto Insurance Loss Data for Lincoln MKT Models

  Specific Lincoln Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lincoln MKT 4dr 2WD	128		133
  Lincoln MKT 4dr 4WD	118	85	138	85

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

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.

Once 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:

• How often do they review policy coverages?
• Do they specialize in personal lines coverage in Lexington?
• Are they in the agency full-time?
• What company holds the largest book of business for them?
• If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
• How does the company pay claims for a total loss?

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.

• Keystone Sills Insurance Agency
  210 Malabu Dr – Lexington, KY 40502 – (859) 276-1881 – View Map
• State Farm: Gina Hopper
  115 S Locust Hill Dr #107 – Lexington, KY 40509 – (859) 268-6998 – View Map
• Kentucky Farm Bureau Insurance Fayette County – Versailles Rd
  1316 Versailles Rd – Lexington, KY 40504 – (859) 253-1626 – View Map
• David Lovejoy – State Farm Insurance Agent
  125 Towne Center Dr #125 – Lexington, KY 40511 – (859) 266-2121 – View Map

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:

• Understanding Your Insurance Deductible (Insurance Information Institute)
• Who Has Cheap Lexington Car Insurance for Seniors? (FAQ)
• Who Has Cheap Auto Insurance Rates for a GMC Sierra in Lexington? (FAQ)
• How Much are Car Insurance Quotes for a Jeep Grand Cherokee in Lexington? (FAQ)
• Event Data Recorders FAQ (iihs.org)
• Safety Belts FAQ (iihs.org)
• Protecting Teens from Drunk Driving (Insurance Information Institute)