Do you need a better way to compare cheaper Lincoln MKT insurance in Indianapolis? There isn’t a single person who likes paying for insurance, especially when they are aware that the prices are way too high.
We don’t have to point out that fact that insurance companies don’t want customers comparing rates. People who compare rates once a year will probably move their business because they have a good chance of finding coverage at a cheaper rate. A recent insurance study discovered that drivers who made a habit of comparing rate quotes saved an average of $72 a month as compared to drivers who don’t make a habit of comparing rates.
If finding the lowest price for car insurance is your target objective, then understanding how to get free comparison quotes and analyze cheaper coverage can make the process more efficient. Due to the increasing number of online and local companies to choose from, it can be difficult for drivers to choose the most affordable company.
The quickest way to compare insurance rates in your area takes advantage of the fact most larger insurance companies have advanced systems to provide you with free rate quotes. The only thing you need to do is spend a couple of minutes providing details including if a SR-22 is needed, level of coverage desired, how much school you completed, and which vehicles you own. The rating information is instantly provided to multiple insurance providers and they return cost estimate within a short period of time.
If you would like to start a quote now, click here and enter your coverage details.
The companies shown below provide comparison quotes in Indianapolis, IN. If multiple providers are shown, we recommend you compare several of them to get a more complete price comparison.
Statistics and details
The price information displayed next outlines different rate quotes for Lincoln MKT models. Having a better understanding of how car insurance premiums are established is important to be able to make decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$190||$340||$358||$22||$108||$1,018||$85|
|MKT 3.7 AWD||$210||$392||$358||$22||$108||$1,090||$91|
|Get Your Own Custom Quote Go|
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Price estimates do not factor in vehicle location which can increase or decrease rates considerably.
The example below illustrates how choosing a deductible and can influence Lincoln MKT insurance costs for different ages of insureds. The data is based on a married male driver, comp and collision included, and no other discounts are factored in.
Does it make sense to buy full coverage?
The diagram below compares Lincoln MKT car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Indiana. The information is based on no claims, a clean driving record, $500 deductibles, drivers are single, and no discounts are factored in.
When to switch to liability coverage only
There is no definitive rule that works best for making the decision to drop full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s say your Lincoln MKT replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $3,000 after the policy deductible has been paid. If you are paying in excess of $300 annually for your policy with full coverage, then it could be time to drop full coverage.
There are some situations where dropping full coverage is not financially feasible. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
Insurance is not optional but you don’t have to overpay
Despite the high insurance cost for a Lincoln MKT in Indianapolis, maintaining insurance is a good idea for several reasons.
- Most states have minimum liability requirements which means state laws require a minimum amount of liability coverage in order to license the vehicle. In Indiana 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 took out a loan on your vehicle, it’s most likely the lender will stipulate that you have full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Lincoln at a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance protects both your vehicle and your personal assets. Insurance will also pay for all forms of medical expenses that are the result of an accident. Liability coverage, the one required by state law, will also pay to defend you if someone files suit against you as the result of an accident. If you have damage to your Lincoln as the result of the weather or an accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than cancel out the cost, especially for larger claims. Despite what companies tell you, the average driver is wasting up to $810 a year so compare rates at every renewal to ensure rates are competitive.
Decisions You Make Can Impact Your Insurance Prices
Many things are part of the calculation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but some are more obscure such as whether you are married or your commute time.
High credit rating translates to low premiums – Having a bad credit score will be a significant factor in determining your rates. Drivers who have good credit tend to be more responsible and file fewer claims than drivers who have lower ratings. If your credit rating can use some improvement, you could potentially save money when insuring your Lincoln MKT by spending a little time repairing your credit.
Lower performance equals lower insurance prices – The make and model of the car or truck you are buying insurance for makes a huge difference in the rate you pay. The lowest premiums are generally reserved for lower cost passenger vehicles, but that’s not the only thing that factors into the final price.
The chart below uses these variables: married male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It illustrates Lincoln MKT car insurance rates compared to other models that have different risk factors.
Driving citations inflate prices – Attentive drivers get better prices as compared to those with violations. Only having one speeding ticket may cause rates to rise to the point where it’s not affordable. Drivers who have received serious violations such as hit and run, DWI or reckless driving convictions may be required to prove financial responsibility with their state’s department of motor vehicles in order to prevent a license revocation.
The example below demonstrates how traffic citations and at-fault fender-benders can increase Lincoln MKT insurance costs for each age group. The rate quotes are based on a married female driver, full coverage, $1,000 deductibles, and no discounts are applied.
Bundle policies and save – Many insurance companies give better rates to insureds who carry more than one policy, otherwise known as a multi-policy discount. Even if you already get this discount, consumers should still compare other company rates to guarantee you are still saving the most. Consumers may save even more than the discount by buying insurance from more than one company.
What’s your car’s safety rating? – Vehicles with good safety scores tend to have lower insurance rates. The safest vehicles protect occupants better and fewer injuries means less claims paid which can mean better rates for you. If your Lincoln MKT is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may cost less to insure.
Low stress vocation equals lower premiums – Do you work in a high-stress field? Careers such as military generals, architects, and emergency personnel tend to pay higher rates than the rest of us because of intense work requirements and lots of time spent away from family. Other professions such as farmers, engineers and homemakers pay lower than average rates.
Mature drivers pay less – Inexperience drivers are statistically shown to be more careless when at the wheel of a vehicle and because of this, their insurance rates are much higher. Having to add a inexperienced driver to your insurance policy can increase premiums substantially. Mature drivers are viewed as being more responsible, file fewer claims, and usually have better credit.
The data below is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Where you reside – Having an address in areas with lower population may provide you with better prices if you are looking for the lowest rates. Fewer drivers and short commutes means fewer accidents as well as less vandalism and auto theft. City drivers have to deal with more auto accidents and more time behind the wheel. The longer drive time statistically corresponds to a higher accident and claim rate.
Lincoln MKT historical loss data – Insurers use data from past claims to calculate a price that offsets possible losses. Models that statistically have higher number or severity of losses will be charged more to insure. The next table illustrates the historical loss data for Lincoln MKT vehicles.
For each coverage category, the loss probability for all vehicles, as a total average, is equal to 100. Values that are below 100 indicate a favorable loss history, while values that are above 100 point to more claims or an increased likelihood of larger losses.
|Vehicle 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|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Frequent quotes can save
Budget-conscious Lincoln MKT insurance can be purchased online and also from your neighborhood Indianapolis agents, and you should be comparing both in order to have the best chance of saving money. Some insurance companies do not offer online price quotes and many times these small insurance companies provide coverage only through independent insurance agencies.
We just covered many ideas to compare Lincoln MKT insurance rates in Indianapolis. It’s most important to understand that the more price quotes you have, the higher your chance of finding affordable Lincoln MKT insurance quotes. Consumers could even find that the best rates are with some of the smallest insurance companies. These companies can often provide lower car insurance rates in certain areas as compared to the big name companies such as State Farm or Progressive.
As you quote Indianapolis car insurance, it’s not a good idea to buy poor coverage just to save money. In too many instances, an accident victim reduced uninsured motorist or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The aim is to buy a smart amount of coverage for the lowest price while still protecting your assets.
Steps to finding affordable quotes for Lincoln MKT insurance in Indianapolis
If saving the most money is your goal, then the best way to get discount car insurance rates in Indianapolis is to make a habit of comparing prices annually from providers who provide car insurance in Indiana.
- Step 1: Read about individual coverages and the things you can change to lower rates. Many policy risk factors that cause rate increases like traffic violations, accidents, and an unfavorable credit rating can be rectified by improving your driving habits or financial responsibility.
- Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can give quotes from a single company like Progressive or Allstate, while agents who are independent can provide price quotes for a wide range of companies. Compare rates now
- Step 3: Compare the new rate quotes to your existing rates and see if there is a cheaper rate. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.
- Step 4: Provide notification to your current agent or company of your intent to cancel the current policy and submit the required down payment along with the signed application to your new insurance company. Immediately place your new certificate verifying proof of insurance in a readily accessible location in your vehicle.
A key point to remember is to make sure you enter similar coverage information on each quote request and and to get price estimates from all possible companies. Doing this ensures an accurate price comparison and the best price selection.
For more information, take a look at the articles below:
- Smart Auto Insurance Tips (Insurance Information Institute)
- How Much are Indianapolis Car Insurance Quotes for Drivers Over Age 70? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Drivers with Accidents in Indianapolis? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)