Are you drained from scraping the payment together to buy insurance? You’re in the same situation as many other Kentucky consumers.
A recent NerdWallet.com study revealed that the vast majority of drivers kept buying from the same company for at least the last four years, and just short of a majority have never compared insurance rates at all. The average driver in the United States could save about $859 each year by just comparing rate quotes, but they don’t want to take the time to compare rate quotes online.
Steps to finding cheaper rates for Lincoln MKX insurance in Lexington
It takes a little time, but the best way to find lower priced Lincoln MKX insurance is to start doing a yearly price comparison from companies who provide auto insurance in Lexington.
- Spend a few minutes and learn about how your policy works and the measures you can take to prevent expensive coverage. Many factors that result in higher prices such as inattentive driving and a lousy credit rating can be amended by making minor changes in your lifestyle.
- Compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive and State Farm, while agents who are independent can provide price quotes from multiple sources.
- Compare the quotes to your existing rates to determine if switching companies saves money. If you find a better price and change companies, ensure there is no coverage lapse between policies.
- Give proper notification to your current agent or company of your intent to cancel your current auto insurance policy and submit the required down payment along with the signed application to the new company. Don’t forget to put the certificate verifying proof of insurance in your vehicle’s glove compartment or console.
An important note is to make sure you’re comparing similar limits and deductibles on every quote and and to get quotes from every company you can. This enables a level playing field and maximum price selection.
Lots of auto insurance companies contend for your business, and it can be difficult to compare rates and get the best coverage at the lowest rate on Lincoln MKX insurance in Lexington.
If you have insurance now, you will be able to shop for the lowest rates using the concepts you’re about to learn. Locating the best rates in Lexington can initially seem challenging. But Kentucky drivers must learn how big insurance companies charge you for coverage because it varies considerably.
The best way to get policy rate comparisons for Lincoln MKX insurance in Lexington is to understand car insurance companies provide online access to quote your coverage. The only thing you need to do is provide the companies a bit of rating information like if you’re married, if the car is leased, the year, make and model of vehicles, and what you do for a living. The data is then submitted to multiple top-rated companies and they provide comparison quotes within a short period of time.
To compare affordable Lincoln MKX insurance rates now, click here and complete the form.
The car insurance companies shown below provide quotes in Lexington, KY. If multiple companies are listed, we recommend you get rates from several of them in order to find the lowest rates.
Lincoln MKX insurance rate analysis
The premium information shown below showcases detailed analysis of prices for Lincoln MKX models. Being more informed about how insurance policy rates are established can be useful when making smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $216 | $516 | $368 | $22 | $110 | $1,232 | $103 |
| MKX AWD | $244 | $516 | $368 | $22 | $110 | $1,260 | $105 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Information does not factor in specific location information which can raise or lower prices greatly.
Higher deductibles save money
One frequently asked question is which deductibles should you choose. The tables below help summarize the cost difference between high and low deductibles. The first set of rates uses a $250 deductible and the second rate table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $252 | $500 | $326 | $20 | $98 | $1,221 | $102 |
| MKX AWD | $284 | $500 | $326 | $20 | $98 | $1,253 | $104 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $156 | $316 | $326 | $20 | $98 | $916 | $76 |
| MKX AWD | $176 | $316 | $326 | $20 | $98 | $936 | $78 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rate information does not factor in garaging location in Lexington which can lower or raise premiums substantially.
Based on these figures, using a $250 deductible costs roughly $26 more each month or $312 for a full year across all Lincoln MKX models than opting for the higher $1,000 deductible. Because you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at least 29 months between claim filings, you would probably save some money if you choose a higher deductible.
The example below illustrates how choosing a deductible and can change Lincoln MKX insurance prices for each different age group. The data is based on a single male driver, full coverage, and no additional discounts are factored in.
How accidents and tickets impact rates
The information below illustrates how speeding tickets and accident claims impact Lincoln MKX car insurance costs for different insured age categories. The premiums assume a married male driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
Best reasons to buy car insurance in Kentucky
Even though it’s not necessarily cheap to insure a Lincoln in Lexington, insurance may be required for several reasons.
- Most states have mandatory liability insurance requirements which means you are required to buy a minimum amount of liability protection 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 you bought your Lincoln with a loan, almost every bank will force you to buy full coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the bank or lender will purchase a policy for your Lincoln for a much higher rate and require you to fork over the higher premium.
- Insurance protects your Lincoln and your assets. It will also cover medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses in the event you are sued. If you have damage to your Lincoln as the result of the weather or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance definitely exceed the price paid, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is overpaying more than $869 every year so compare quotes from several companies each time the policy renews to be sure current rates are still competitive.
Parts of your insurance policy
Learning about specific coverages of your policy aids in choosing the best coverages for your vehicles. Insurance terms can be difficult to understand and coverage can change by endorsement. Listed below are typical coverage types found on most insurance policies.
Medical expense coverage
Coverage for medical payments and/or PIP reimburse you for expenses for things like surgery, chiropractic care and EMT expenses. The coverages can be used in conjunction with a health insurance plan or if you do not have health coverage. It covers not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Coverage for liability
Liability insurance protects you from damages or injuries you inflict on other people or property by causing an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/10 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $10,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage pays for claims like legal defense fees, pain and suffering, repair bills for other people’s vehicles, bail bonds and medical expenses. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford. Kentucky requires drivers to carry at least 25/50/10 but it’s recommended drivers buy higher limits.
The illustration below shows why low liability limits may not be high enough to adequately cover claims.
Collision insurance
Collision coverage covers damage to your MKX caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for things like colliding with another moving vehicle, sideswiping another vehicle, driving through your garage door, rolling your car and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible on your MKX to save money on collision insurance.
Uninsured or underinsured coverage
This provides protection when the “other guys” do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your Lincoln MKX.
Because many people have only the minimum liability required by law (25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally these coverages are similar to your liability insurance amounts.
Comprehensive protection
Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like hitting a bird, damage from getting keyed and a broken windshield. The most you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Best auto insurance company in Kentucky
Picking the highest-rated company can be rather challenging considering how many different companies there are to choose from in Lexington. The ranking data in the next section can help you decide which providers you want to consider when comparing rate quotes.
Top 10 Lexington Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
- Allstate – A+
How much can you save?
When getting Lexington car insurance quotes online, it’s very important that you do not skimp on coverage in order to save money. Too many times, an insured dropped comprehensive coverage or liability limits and learned later that saving that couple of dollars actually costed them tens of thousands. Your goal is to purchase a proper amount of coverage for the lowest cost and still be able to protect your assets.
In this article, we presented many tips how you can save on Lincoln MKX insurance in Lexington. The most important thing to understand is the more you quote Lexington car insurance, the higher your chance of finding affordable Lincoln MKX insurance quotes. You may even find the best prices are with a small local company. Smaller companies often have lower rates on specific markets compared to the large companies like Progressive or GEICO.
How to buy discount Lincoln MKX insurance in Lexington
If saving money is your primary concern, then the best way to save money on Lincoln MKX insurance is to start comparing rates regularly from companies who sell insurance in Lexington. You can compare rates by completing these steps.
First, read about the different coverages in a policy and the measures you can take to prevent expensive coverage. Many factors that increase rates like at-fault accidents and a negative credit score can be eliminated by making minor driving habit or lifestyle changes.
Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from a single company like Progressive or State Farm, while independent agencies can provide rate quotes from many different companies.
Third, compare the new rates to your existing coverage to see if switching to a new carrier will save money. If you find a lower rate and make a switch, make sure coverage is continuous and does not lapse.
Fourth, provide written notification to your current company of your intention to cancel your current coverage and submit a down payment along with a signed application for your new policy. Once received, keep your new certificate of insurance in an easily accessible location.
One key aspect when comparing rates is to try to compare the same deductibles and limits on every quote request and and to get price estimates from every company you can. Doing this ensures an accurate price comparison and a better comparison of the market.
Even more information can be found by following these links:
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Who Has Cheap Car Insurance Rates for a School Permit in Lexington? (FAQ)
- How Much are Auto Insurance Quotes for a 20 Year Old Female in Lexington? (FAQ)
- Who Has Affordable Lexington Auto Insurance Quotes for Uninsured Drivers? (FAQ)
- How Much is Lexington Auto Insurance for a Company Car? (FAQ)
- What Car Insurance is Cheapest for a Nissan Altima in Lexington? (FAQ)
- Who Has Cheap Car Insurance Quotes for 17 Year Olds in Lexington? (FAQ)
- Who Has Cheap Lexington Car Insurance for a Kia Forte? (FAQ)
- How Much are Car Insurance Quotes for a Toyota Corolla in Lexington? (FAQ)
- Who Has Cheap Auto Insurance for a Chevrolet Silverado in Lexington? (FAQ)
- Who Has Affordable Car Insurance Quotes for Good Students in Lexington? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Side Impact Crash Tests (iihs.org)
- What are my Rights when Filing a Claim? (Insurance Information Institute)