Find Cheaper Lincoln MKT Insurance in Madison

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Buying the lowest cost Madison Lincoln MKT insurance quotes over the internet can appear to be problematic for people who are beginners to quoting and buying their auto insurance online. With such a large choice of insurers to choose from, how can people have time to compare each option to find the best available rates?

Insurance for Lincoln MKTIt's safe to conclude that car insurance companies don't want policyholders to compare prices from other companies. Consumers who shop around for cheaper price quotes are highly likely to switch to a new company because the odds are good of finding a lower-priced company. A study showed that consumers who regularly compared rates saved $72 a month as compared to drivers who never shopped around for lower prices.

If finding the lowest rates on Lincoln MKT insurance in Madison is your target objective, then knowing how to shop and compare coverage rates can save time, money, and frustration.

All the larger car insurance companies such as State Farm, GEICO and Progressive allow consumers to get price estimates direct online. Obtaining pricing for Lincoln MKT insurance in Madison can be done by anyone as you simply enter your personal and coverage information into the quote form. After the form is submitted, the system requests credit information and your driving record and returns a price based on many factors.

Quoting online for Lincoln MKT insurance in Madison makes it simple to compare prices and it's also necessary to get many rate quotes if you want to get a better rate.

To find out how much you're overpaying now, compare rates from the companies below. If you have coverage now, it's recommended that you enter the limits and deductibles as close as possible to your current policy. Doing this guarantees you will have an apples-to-apples comparison for similar coverage.

The car insurance companies shown below are ready to provide quotes in Madison, WI. To get cheaper auto insurance in Wisconsin, we recommend you visit several of them to get a more complete price comparison.

Lincoln MKT insurance analysis

The data table below showcases detailed analysis of insurance prices for Lincoln MKT models. Having a good grasp of how auto insurance prices are determined can assist in making decisions on the best policy to buy.

Lincoln MKT Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $192 $350 $244 $14 $74 $874 $73
MKT 3.7 AWD $212 $402 $244 $14 $74 $946 $79
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Premium amounts do not factor in specific location information which can influence coverage prices noticeably.

Deductible comparison

One of the hardest decisions when shopping for auto insurance is which deductible level should you buy. The data tables below determine the cost difference between low and high physical damage deductibles. The first table uses a $250 physical damage deductible and the second data table uses a $1,000 deductible.

Lincoln MKT insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $224 $352 $260 $16 $78 $955 $80
MKT 3.7 AWD $246 $406 $260 $16 $78 $1,031 $86
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Lincoln MKT insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $138 $222 $260 $16 $78 $714 $60
MKT 3.7 AWD $152 $256 $260 $16 $78 $762 $64
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can raise or lower auto insurance rates noticeably.

Using the data above, we can ascertain that using a $250 deductible would cost the average driver about $21 more each month or $252 for a full year than selecting the higher $1,000 deductible. Since you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 36 months between claims, you would probably save some money if you decide on a higher deductible.

How to calculate when to raise deductibles

Average monthly premium for $250 deductibles: $83
Average monthly premium for $1,000 deductibles (subtract): - $62
Monthly savings from raising deductible: $21
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 36 months

One important note is that raising deductibles to get cheaper rates means you will have to cover more of the damage yourself when you have a physical damage claim. You must have enough money put aside in order to pay more for the deductible.

The diagram below shows how choosing a deductible and can influence Lincoln MKT insurance rates for each different age group. The rate quotes are based on a single male driver, full coverage, and no discounts are applied to the premium.

Why do I need car insurance?

Even though it's not necessarily cheap to insure a Lincoln in Madison, insuring your vehicle is not optional due to several reasons.

  • Almost all states have mandatory liability insurance requirements which means you are required to buy a minimum amount of liability insurance in order to drive the car legally. In Wisconsin 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 Lincoln MKT, it's most likely the lender will have a requirement that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may insure your Lincoln at an extremely high rate and require you to fork over the higher premium.
  • Car insurance protects your Lincoln and your assets. It also can pay for medical expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, will also pay to defend you in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance greatly outweigh the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is overpaying more than $800 each year so shop around every year to ensure rates are inline.

Decisions You Make Can Impact Your Insurance Premiums

Many factors are part of the calculation when pricing auto insurance. A few of the factors are predictable such as your driving record, but other factors are more obscure like your vehicle usage or how safe your car is. The best way to find cheaper insurance is to take a look at some of the things that play a part in calculating your premiums. If you have some idea of what determines premiums, this allows you to make good choices that can help you get much lower annual insurance costs.

Shown below are some of the most rate-impacting factors used by companies to determine rates.

Location can influence price - Choosing to live in less populated areas of the country is a positive aspect when trying to find low car insurance rates. Fewer people means reduced accidents and lower theft and vandalism rates. Urban drivers have to deal with more auto accidents and a longer drive to work. More time behind the wheel can result in more accidents.

Rental and towing coverage may not be needed - Policies have additional extra coverages you can purchase on your MKT policy. Insurance for vanishing deductibles, accident forgiveness, and extra equipment coverage are probably not needed. The coverages may be enticing when buying your policy, but if you've never needed them in the past think about removing them and cutting costs.

Low mileage costs less - The more miles you rack up on your Lincoln annually the more you'll pay to insure it. A lot of insurance companies calculate rates based on how the vehicle is used. Vehicles not used for work or commuting can be on a lower rate level than cars that get driven a lot. Ask your agent if your policy shows the right rating data. Having the wrong rating on your MKT may be wasting your money.

Deter car thieves - Choosing to buy a car that has a built-in theft deterrent system can save you a little every year. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop auto theft.

Cheaper rates with safer cars - Cars with high safety ratings tend to have lower insurance rates. Vehicles engineered for safety protect occupants better and lower rates of occupant injuries translates into fewer and smaller insurance claims and lower rates for you.

Lincoln MKT claim data - Insurance companies analyze historical claim data when determining insurance rates. Models that tend to have high amounts or severity of claims will cost more to insure. The table below shows the loss history for Lincoln MKT vehicles.

For each policy coverage, the claim amount for all vehicles averaged together is equal to 100. Percentage values below 100 are indicative of better than average losses, while values that are 100 or greater show a trend for more claims or statistically larger claims.

Car 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

How much auto insurance do I need?

When buying the right insurance coverage, there really is not a "perfect" insurance plan. Every situation is different so this has to be addressed.Higher deductibles save money Here are some questions about coverages that may help highlight if your insurance needs could use an agent's help.

  • Why does it cost so much to insure a teen driver in Madison?
  • Is a fancy paint job covered?
  • Am I getting all the discounts available?
  • Should I carry comprehensive and collision coverage?
  • How high should deductibles be on a Lincoln MKT?
  • Why do I have to buy liability insurance?

If you don't know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.

Find cheap rates by being thorough

When trying to cut insurance costs, do not buy lower coverage limits just to save a few bucks. In many instances, an insured dropped liability coverage limits only to discover later they didn't purchase enough coverage. The goal is to purchase a proper amount of coverage for the lowest price, not the least amount of coverage.

We just covered a lot of information how to find lower-cost Lincoln MKT insurance in Madison. The most important thing to understand is the more providers you compare, the higher the chance of saving money. Consumers may even find the lowest prices come from the least-expected company. Some small companies may often insure only within specific states and give better rates than their larger competitors like Allstate, GEICO and Progressive.

Steps to finding low-cost Lincoln MKT insurance in Madison

The easiest way to find cheaper prices for car insurance rates in Madison is to annually compare prices from providers in Wisconsin. Rate comparisons can be done by completing these steps.

  • Step 1: Gain an understanding of policy coverages and the steps you can take to prevent high rates. Many risk factors that drive up the price such as speeding tickets, careless driving and a low credit score can be remedied by making minor changes to your lifestyle.
  • Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from one company like Progressive and State Farm, while independent agencies can quote rates from multiple companies.
  • Step 3: Compare the quotes to your existing coverage to see if a cheaper rate is available. If you can save some money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
  • Step 4: Notify your agent or company of your intent to cancel your current auto insurance policy. Submit a signed application and payment for your new coverage. As soon as you receive it, place your new certificate verifying coverage with your vehicle's registration.

The critical component of shopping around is to use similar limits and deductibles on every price quote and and to look at as many car insurance companies as possible. Doing this provides a level playing field and the most accurate and complete price analysis.

Much more information about insurance in Wisconsin can be read at these links: