Car Insurance Rate Quotes for a Lincoln MKT in Columbus

The recommended way to get the cheapest Lincoln MKT insurance in Columbus is to start comparing prices yearly from companies who provide car insurance in Ohio.

• Step 1: Read about the coverage provided by your policy and the factors you can control to keep rates in check. Many policy risk factors that drive up the price like careless driving and poor credit can be controlled by improving your driving habits or financial responsibility. Keep reading for additional tips to prevent rate hikes and earn larger discounts.
• Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or State Farm, while agents who are independent can quote rates from many different companies.
• Step 3: Compare the new rates to your existing coverage to see if you can save by switching companies. If you find a lower rate and switch companies, make sure there is no coverage gap between policies.
• Step 4: Give proper notification to your current agent or company of your intent to cancel your current policy and submit a completed policy application and payment for your new coverage. Be sure to place the new certificate of insurance in your glove compartment.

A good tip to remember is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to look at as many car insurance companies as possible. Doing this provides a fair price comparison and the most accurate and complete price analysis.

It goes without saying that car insurance companies don’t want you quoting rates from other companies. Insureds who shop around at least once a year will probably switch to a new company because they have a good chance of finding a more affordable policy. Surprisingly, a recent survey revealed that people who did price comparisons regularly saved on average $72 a month compared to those who never shopped around for cheaper prices.

If finding budget-friendly rates on Lincoln MKT insurance is the reason you’re reading this, then having some knowledge of the best ways to find and compare coverage rates can help simplify the process.

Smart Choices Result in Lower Insurance Costs

Multiple criteria are used when quoting car insurance. Some factors are common sense like your driving record, although others are more obscure such as your marital status or how financially stable you are.

• Responsible drivers pay lower rates – Your driving record can have a huge impact on auto insurance premiums. Having just one ticket can bump up the cost to the point where it’s not affordable. Drivers who don’t get tickets have lower premiums as compared to careless drivers. Drivers who have severe citations such as DUI or willful reckless driving are required to prove financial responsibility with the DMV in their state in order to drive a vehicle legally.

  The illustration below demonstrates how speeding tickets and at-fault accidents raise Lincoln MKT insurance costs for each different age group. The premium estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are taken into consideration.

• Cheaper rates after marriage – Your spouse may earn you lower rates compared to being single. Having a spouse translates into being more responsible and statistics prove married drivers get in fewer accidents.

• Expect high rates for teens – Older people are viewed as being more responsible, cost insurance companies less in claims, and usually have better credit. Youthful drivers are statistically proven to get distracted easily when driving with friends so they pay higher insurance rates.

  The following chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.

• High physical damage deductibles save money – Comprehensive and collision coverage deductibles represent how much money you are required to spend before your insurance pays a claim. Physical damage protection, also known as collision and other-than-collision, is used to repair damage to your car. Some examples of claims that would be covered could be a windshield broken by a bird, collision with a deer, and damage from wind. The more money the insured has to pay upfront, the less your company will charge you for insurance.
• Remove unneeded extra policy coverages – There are many optional add-on coverages that may not really be needed if you aren’t diligent. Coverages for rental car coverage, death and dismemberment, and Farm Bureau memberships may not be needed and are just wasting money. They may sound like good ideas at first, but now you might not need them so eliminate them to save money.
• Never have insurance lapses – Allowing your coverage to lapse is a quick way to increase your insurance rates. Not only will rates go up, getting caught without coverage may earn you a hefty fine and possibly a revoked license. You could then be forced to file a SR-22 with the Ohio department of motor vehicles.

• Men pay more for insurance – Over time, data shows that men are more aggressive behind the wheel. However, this does not mean men are worse drivers. Females and males cause at-fault accidents at about the same rate, but the male of the species get into accidents with more damage. Men also have more aggressive citations like reckless driving and DUI. Male teenagers cause the most accidents and thus pay the highest rates.

  The example below illustrates the comparison of Lincoln MKT annual premium costs for male and female drivers. The rates are based on no driving violations, no at-fault accidents, comp and collision included, $250 deductibles, marital status is single, and no discounts are taken into consideration.

• Insurance loss statistics a Lincoln MKT – Auto insurance companies use claims history when they set coverage costs for each model. Models that historically have higher loss trends will cost more for coverage.

  The table below demonstrates the collected loss data for Lincoln MKT vehicles. For each coverage type, the statistical loss for all vehicles, as an average, is equal to 100. Numbers that are below 100 suggest a positive loss record, while values over 100 indicate more frequent claims or statistically larger losses.

  
  

  Auto Insurance Loss Data for Lincoln MKT Models

  Make and 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

Lincoln MKT coverage analysis

The coverage information shown below outlines different insurance policy prices for Lincoln MKT models. Learning a little about how rates are figured is important for making informed purchases.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rates do not factor in zip code location which can change insurance rates noticeably.

How high should deductibles be?

One common question asked by Columbus drivers is which comprehensive and collision deductibles to buy. The rates shown below outline the differences in price of buying low and high insurance deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rates do not factor in vehicle location which can lower or raise prices considerably.

We can estimate from the data above that using a $250 deductible costs approximately $12 more each month or $144 for a full year than selecting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average at a minimum 21 months between claim filings, you would more than likely save some money if you opt for a higher deductible.

The example below demonstrates how choosing different deductibles and can influence Lincoln MKT annual premium costs for each different age category. The price estimates are based on a single male driver, comp and collision included, and no other discounts are factored in.

Lincoln MKT liability rates compared to full coverage

The chart below illustrates the comparison of Lincoln MKT insurance premiums when comparing full coverage to state minimum liability only. The costs are based on no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

When to stop paying for full coverage

There is no clear-cut rule that is best for determining when to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Lincoln MKT replacement cost is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after paying your policy deductible. If premium cost is more than $700 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.

There are some scenarios where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

You may qualify for discounts for Lincoln MKT insurance in Columbus

Companies that sell car insurance don’t always publicize every discount in an easy-to-find place, so the list below details a few of the more common and also the lesser-known discounts that you can inquire about if you buy Columbus car insurance online. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.

• College Student – Any of your kids who are enrolled in higher education away from home and do not have a car could get you a discount.
• Senior Citizens – Drivers that qualify as senior citizens may qualify for a discount up to 10%.
• Employee of Federal Government – Federal government employees can earn a discount up to 10% with certain companies.
• Cautious Driver Discount – Accident-free drivers can save as much as half off their rates than less cautious drivers.
• Good Student – This discount may save as much as 25% on a Columbus car insurance quote. Most companies allow this discount until age 25.

It’s important to understand that most discounts do not apply to the overall cost of the policy. Most only cut individual premiums such as comp or med pay. Just because it seems like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

The diagram below compares Lincoln MKT car insurance rates with and without discounts. The rate quotes are based on a male driver, no accidents, no driving violations, Ohio state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, marriage, multi-car, multi-policy, and homeowner discounts applied.

A few popular companies and the discounts they provide are shown below.

• American Family may offer discounts for air bags, Steer into Savings, good driver, mySafetyValet, good student, and bundled insurance.
• Farm Bureau offers discounts including safe driver, multi-vehicle, good student, youthful driver, and 55 and retired.
• State Farm offers premium reductions for student away at school, good driver, safe vehicle, passive restraint, and accident-free.
• Travelers has discounts for early quote, save driver, good student, student away at school, home ownership, and continuous insurance.
• The Hartford discounts include air bag, defensive driver, bundle, anti-theft, driver training, vehicle fuel type, and good student.
• GEICO includes discounts for daytime running lights, multi-policy, membership and employees, multi-vehicle, air bags, anti-lock brakes, and emergency military deployment.
• Progressive offers discounts for online quote discount, homeowner, good student, multi-vehicle, continuous coverage, and online signing.

Before you buy a policy, ask all companies you are considering which discounts you qualify for. Discounts may not apply to policies in Columbus. If you would like to see a list of providers with significant discounts in Columbus, follow this link.

Cheaper auto insurance is out there

As you quote Columbus car insurance, don’t be tempted to skimp on coverage in order to save money. There are many occasions where an insured dropped collision coverage only to regret that the small savings ended up costing them much more. The ultimate goal is to get the best coverage possible at the lowest possible cost while still protecting your assets.

You just learned quite a bit of information on how to get a better price on Lincoln MKT insurance in Columbus. The key thing to remember is the more you quote Columbus car insurance, the better likelihood of getting cheaper Columbus car insurance quotes. You may even discover the best premium rates are with a smaller regional carrier. These companies often have lower prices on specific markets than their larger competitors like Allstate and Progressive.

Some insurance companies do not provide rate quotes online and usually these small, regional companies prefer to sell through independent agents. Cost effective Lincoln MKT insurance is attainable from both online companies in addition to many Columbus insurance agents, so you need to compare both to have the best selection.

Additional information can be read at the links below

• Understanding your Policy (NAIC.org)
• Who Has Cheap Auto Insurance for a Nissan Altima in Columbus? (FAQ)
• How Much are Auto Insurance Quotes for a Chevrolet Equinox in Columbus? (FAQ)
• Distracted Driving Extends Beyond Texting (State Farm)
• Auto Insurance 101 (About.com)