Best Insurance for a Lincoln MKX in Madison

How long has it been since you compared low-cost Lincoln MKX insurance in Madison? When looking for more affordable insurance, are you baffled by the wide range of insurance choices that you can choose from? You have so many choices available that it is a real difficult job to find better prices for Lincoln MKX insurance in Madison. Lots of people think Madison is a great place to live, but pricey insurance makes it impossible to afford good insurance coverage.

It’s a known fact that insurance companies don’t want their customers to go rate shopping. People who shop around at least once a year will presumably buy a different policy because there is a good chance of finding a lower-priced company. A recent insurance study revealed that consumers who compared prices regularly saved about $3,500 over four years compared to people who never shopped around.

If finding the cheapest price for auto insurance in Madison is your intention, then having an understanding of how to get free comparison quotes and analyze coverages can save money and time.

Affordable Lincoln MKX insurance in Madison

Some companies do not advertise all possible discounts in an easy-to-find place, so below is a list a few of the more well known as well as the least known credits that you can use to lower your rates.

• Passive Restraints – Cars that have air bags may get savings as much as 30%.
• Discounts for Federal Employees – Active or retired federal employment can save as much as 8% depending on your auto insurance provider.
• Save with a New Car – Buying a new car instead of a used MKX can cost up to 25% less because newer models keep occupants safer.
• Memberships – Participating in qualifying clubs or civic groups could earn you a nice discount on your bill.
• Switch and Save Discount – A few companies give discounts for renewing your policy before your current coverage expires. You could save around 10% when you buy Madison auto insurance online.
• ABS Brakes – Anti-lock brake equipped vehicles can stop better under adverse conditions and qualify for as much as a 10% discount.
• Home Ownership Discount – Just owning your own home can get you a discount due to the fact that maintaining a home requires personal responsibility.
• Drive Safe and Save – Safe drivers could pay up to 40% less than drivers with accident claims.

Please keep in mind that most discount credits are not given to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as comp or med pay. Despite the appearance that all those discounts means the company will pay you, it just doesn’t work that way.

The example below shows the comparison of Lincoln MKX premium costs with and without policy discounts. The premiums are based on a female driver, a clean driving record, no claims, Wisconsin state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, homeowner, claim-free, safe-driver, and multi-policy discounts applied.

If you would like to see a list of providers that have a full spectrum of discounts in Madison, click here to view.

To find cheaper Madison auto insurance quotes, there are several ways to compare rate quotes from different companies. One of the best ways to find the lowest Lincoln MKX rates is to jump online and get quotes.

When comparison shopping, getting more free quotes helps increase your odds of locating more affordable insurance.

The companies shown below can provide quotes in Wisconsin. If multiple companies are listed, we suggest you visit two to three different companies to get a more complete price comparison.

Analysis of Lincoln MKX rates

The premium table shown next covers different insurance prices for Lincoln MKX models. Learning as much as possible about how insurance prices are determined is important for you to make informed decisions.

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate information does not factor in specific location which can affect coverage rates greatly.

Higher deductibles lower rates

The hardest decision when buying coverage is where should you set your physical damage deductibles. The tables below can help you visualize the differences in premium rates between low and high deductibles. The first data table uses a $250 physical damage deductible and the second pricing table uses a $1,000 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Information does not factor in specific garaging location which can revise rates greatly.

We can estimate from the data above that using a $250 deductible will cost you about $18 more each month or $216 every year across all Lincoln MKX models than quoting the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 42 months between claim filings, you would come out ahead if you choose a higher deductible.

One important issue to know is that a higher deductible level means you will have to pay more out-of-pocket when you have a physical damage claim. You should have enough extra savings in the event you have to pay the higher deductible.

How careless driving impacts Madison auto insurance rates

The illustration below illustrates how speeding tickets and fender-benders can impact Lincoln MKX insurance premiums for different age groups. The rates are based on a married male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.

Gender differences in auto insurance premiums

The diagram below visualizes the comparison of Lincoln MKX insurance costs for male and female drivers. The costs are based on no claims or violations, comp and collision included, $500 deductibles, single marital status, and no discounts are taken into consideration.

Full coverage versus liability-only in Madison

The illustration below shows the comparison of Lincoln MKX premium costs when comparing full coverage to state minimum liability only. The rates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no additional discounts are factored in.

When to buy liability coverage only

There is no specific rule to exclude physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let’s say your Lincoln MKX claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after the policy deductible has been paid. If it’s costing in excess of $500 a year for full coverage, then you might want to consider buying only liability coverage.

There are some cases where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.

Do I just need basic coverages?

When buying proper insurance coverage for your personal vehicles, there really isn’t a single plan that fits everyone. Your financial needs are unique.

These are some specific questions can aid in determining if your insurance needs could use an agent’s help.

• How much cheaper are high deductibles?
• What exactly is covered by my policy?
• Which is better, split liability limits or combined limits?
• What if an uninsured driver hits me?
• Do I need special endorsements for business use of my vehicle?
• What is an umbrella policy?
• How much will a speeding ticket raise my rates?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, complete this form.

When to get advice from an agent

Certain consumers would rather talk to an insurance agent and we recommend doing that One of the benefits of getting online price quotes is that drivers can save money and get cheaper premium rates and still buy from a local agent. Buying from and supporting neighborhood agents is important especially in Madison.

By using this quick form, your insurance coverage information is sent to insurance agents in Madison who will give you bids and help you find cheaper coverage. You won’t need to contact an agency as quotes are delivered to your email. You can most likely find cheaper rates AND an agent nearby. If for some reason you want to compare prices from a particular provider, don’t hesitate to search and find their rate quote page to submit a rate quote request.

Independent or Exclusive: It’s your choice

If you want to buy car insurance from a reputable agency, there are a couple of types of agencies and how they work. Car insurance agents can either be exclusive or independent agents depending on their company appointments.

Independent Agents (or Brokers)

Agents that choose to be independent are not employed by one company and that gives them the ability to insure with an assortment of companies enabling the ability to shop coverage around. To move your coverage to a new company, they simply move the coverage in-house without you having to go to a different agency. When comparison shopping, we recommend you get quotes from a couple of independent agencies in order to compare the most rates. Many independent agencies also insure through small mutual carriers which may have better rates.

The following are Madison independent agents that may be able to give you free price quotes.

• Gehrke Insurance
  1310 Mendota St # 108 – Madison, WI 53714 – (608) 241-4136 – View Map
• M3 Insurance
  828 John Nolen Dr – Madison, WI 53713 – (608) 273-0655 – View Map
• Above and Beyond Insurance
  6601 Grand Teton Plaza #7 – Madison, WI 53719 – (608) 203-8666 – View Map

View more agents

Exclusive Car Insurance Agents

Agents of this type work for only one company such as Allstate, AAA, Farmers Insurance, and State Farm. They usually cannot provide other company’s prices so you might not find the best rates. Exclusive insurance agents are highly trained on their company’s products which can be an advantage. Consumers sometimes buy insurance from these agents partially due to loyalty to the company and solid financial strength.

The following is a list of exclusive agencies in Madison that are able to give price quote information.

• Farmers Insurance: Jesus Carvajal
  5555 Odana Rd #201 – Madison, WI 53719 – (608) 278-7055 – View Map
• American Family Insurance – Ed Flynn
  514 Grand Canyon Dr – Madison, WI 53719 – (608) 833-1717 – View Map
• American Family Insurance – D Webster-Scher Agency Inc.
  637 E Washington Ave – Madison, WI 53703 – (608) 249-3111 – View Map

View more agents

Finding the right insurance agency is decision based upon more than just the bottom line cost. Any agent in Madison should be forthright in answering these questions:

• Are they primarily personal or commercial lines agents in Madison?
• By raising physical damage deductibles, how much would you save?
• Does the company have a solid financial rating?
• Do they review policy coverages at every renewal?
• Are claims handled at the agent’s location?

Upon receiving good feedback in addition to an acceptable price estimate, you have narrowed it down to an auto insurance agent that meets the requirements to insure your vehicles. Just be aware that it’s your policy and you can terminate your policy at any point so don’t think that you’re stuck with a specific agent for a certain time period.

Auto insurance coverage considerations

Knowing the specifics of your policy can be of help when determining the right coverages for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive (Other than Collision)

Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like a tree branch falling on your vehicle, a broken windshield, hail damage, damage from getting keyed and fire damage. The most your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability insurance

This coverage will cover damage that occurs to people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 25/50/10 that translate to a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $10,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability can pay for claims like pain and suffering, repair costs for stationary objects, funeral expenses and medical expenses. How much liability coverage do you need? That is a decision to put some thought into, but you should buy higher limits if possible. Wisconsin requires drivers to carry at least 25/50/10 but you should consider buying better liability coverage.

The illustration below demonstrates why minimum state limits may not provide you with enough coverage.

Protection from uninsured/underinsured drivers

This protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your Lincoln MKX.

Since many Wisconsin drivers only purchase the least amount of liability that is required (25/50/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision insurance

This coverage will pay to fix damage to your MKX resulting from a collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims such as driving through your garage door, damaging your car on a curb, sideswiping another vehicle, colliding with a tree and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Drivers also have the option to increase the deductible on your MKX to bring the cost down.

Medical expense insurance

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses like doctor visits, prosthetic devices, ambulance fees and chiropractic care. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Smart consumers save more

Consumers switch companies for many reasons like delays in responding to claim requests, delays in paying claims, unfair underwriting practices and not issuing a premium refund. Whatever your reason, choosing a new company is not as hard as you think.

Cheaper Lincoln MKX insurance in Madison can be found on the web and also from your neighborhood Madison agents, and you need to price shop both to have the best rate selection. Some car insurance companies may not have internet price quotes and many times these smaller companies prefer to sell through independent insurance agencies.

When searching for inexpensive Madison auto insurance quotes, it’s not a good idea to skimp on coverage in order to save money. There have been many situations where drivers have reduced uninsured motorist or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to buy the best coverage you can find at the lowest possible cost, but do not skimp to save money.

Steps to quoting cheaper Lincoln MKX insurance in Madison

The easiest way to get budget car insurance rates is to regularly compare prices from companies that insure vehicles in Madison. You can compare rates by following these steps.

• First, read and learn about what is in your policy and the steps you can take to keep rates in check. Many risk factors that result in higher rates like speeding and a not-so-good credit rating can be controlled by making small lifestyle or driving habit changes.
• Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Allstate, while independent agencies can provide rate quotes from multiple insurance companies.
• Third, compare the price quotes to the price on your current policy to see if a cheaper rate is available. If you can save money and change companies, verify that coverage does not lapse between policies.
• Fourth, give notification to your agent or company of your intention to cancel your current coverage. Submit the required down payment along with the signed application to your new company or agent. Once received, place your new certificate of insurance somewhere easily accessible.

A crucial key to this process is to make sure you enter identical deductibles and limits on each quote request and and to get rate quotes from as many companies as feasibly possible. Doing this provides a fair price comparison and the best price selection.

For more information, feel free to browse these articles:

• State Laws for Cellphones and Texting (iihs.org)
• Who Has the Cheapest Auto Insurance for Drivers Requiring a SR22 in Madison? (FAQ)
• Who Has Affordable Auto Insurance Rates for Veterans in Madison? (FAQ)
• How Much is Madison Car Insurance for Drivers Over Age 50? (FAQ)
• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Property Damage Coverage (Liberty Mutual)