Do you get exhausted from sacrificing other expenses to buy insurance? You’re in the same situation as many other consumers in Nevada.
We don’t have to point out that fact that insurance companies don’t want their customers to go rate shopping. Drivers who shop around are highly likely to switch to a new company because of the high probability of finding more affordable rates. A recent study showed that consumers who shopped around every year saved as much as $865 annually as compared to drivers who never shopped around for better prices.
If finding the best price on insurance is the reason you’re reading this, then learning about the best ways to shop for car insurance can make the process more efficient. Many car insurance companies vie to insure your vehicles, so it’s not easy to compare every provider to get the lowest cost out there.
You need to compare prices before your next renewal because insurance rates trend upward over time. Even if you got the lowest rate on Lincoln MKT insurance in Henderson a couple years back you can probably find a lower rate today. Forget all the misinformation about insurance because we’re going to demonstrate the quickest way to eliminate unnecessary coverages and save money on Lincoln MKT insurance in Henderson.
If you have insurance now or want to find a cheaper company, you can learn to find better prices and possibly find even better coverage. Locating the most cost-effective insurance policy in Henderson can be made easier if you know where to look. You just have to know the best way to compare rates using one simple form.
Most major insurance companies like Allstate and Progressive provide prices for coverage on their websites. Doing online price comparisons for Lincoln MKT insurance in Henderson is easy for anyone as you just type in your coverage preferences into a form. After you complete the form, the company’s rating system will order information on your driving record and credit history and provides a quote based on these factors. Using the web to get rates for Lincoln MKT insurance in Henderson makes it easy to compare insurance prices and it’s also necessary to get many rate quotes in order to find cheaper rates.
To quickly compare rates using this form now, visit the companies below or click here to submit a quote request to multiple companies at once. If you have your current policy handy, we recommend you input deductibles and limits as shown on your current policy. Doing this guarantees you will get an apples-to-apples comparison for similar coverage.
The companies shown below have been selected to offer price quotes in Henderson, NV. To locate the best cheap auto insurance in Nevada, we recommend you visit several of them to get a more complete price comparison.
Car insurance analysis for a Lincoln MKT
The premium information shown below highlights different insurance policy prices for Lincoln MKT models. Being aware of how car insurance prices are figured can help customers make informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$210||$374||$394||$24||$118||$1,120||$93|
|MKT 3.7 AWD||$230||$430||$394||$24||$118||$1,196||$100|
|Get Your Own Custom Quote Go|
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Price information does not factor in your specific Henderson location which can increase or decrease prices significantly.
The example below shows how different deductible levels and can increase or decrease Lincoln MKT yearly insurance costs for different age groups of insureds. Data assumes a single male driver, full physical damage coverage, and no discounts are applied.
Full coverage rates vs. liability-only in Henderson
The example below visualizes the comparison of Lincoln MKT insurance costs when comparing full coverage to liability only. The data is based on no accidents or driving violations, $100 deductibles, drivers are not married, and no discounts are factored in.
When to drop comprehensive and collision coverage
There is no definitive rule to drop physical damage coverage, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s say your Lincoln MKT settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after you pay the deductible. If premiums are more than $600 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are some scenarios where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Why you need insurance for your Lincoln MKT
Even though Henderson MKT insurance rates can get expensive, auto insurance is required by state law in Nevada and it also provides benefits you may not be aware of.
First, just about all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability if you drive a vehicle. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a loan on your vehicle, more than likely the lender will force you to have physical damage coverage to guarantee loan repayment. If you default on your policy, the bank may buy a policy for your Lincoln at an extremely high rate and force you to pay much more than you were paying before.
Third, insurance protects not only your Lincoln MKT but also your assets. It will also reimburse you for medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney 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 to repair the damage minus the deductible amount.
The benefits of insuring your MKT more than cancel out the cost, especially when you need to use it. As of last year, the average driver in Nevada overpays more than $800 each year so compare rate quotes each time the policy renews to make sure the price is not too high.
Seven factors that impact insurance premiums
Part of the car insurance buying process is learning the different types of things that are used to determine your premiums. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that can help you get big savings.
Drivers with high credit save – A driver’s credit score is a large factor in calculating your car insurance rates. If your credit rating can use some improvement, you could save money insuring your Lincoln MKT by improving your rating. Consumers who have very high credit ratings tend to be better risks to insure than those with lower ratings.
Avoid unnecessary incidental coverages – There are a ton of optional add-on coverages that can waste your money if you aren’t careful. Coverages for rental car coverage, death and dismemberment, and motor club memberships may be costing you every month. They may seem like a good idea when deciding what coverages you need, but if they’re wasting money consider taking them off your policy.
Rural vs Urban Areas – Being located in small towns and rural areas may provide you with better prices when talking about car insurance. Less people living in that area means fewer accidents and lower theft and vandalism rates. Drivers in populated Nevada areas have traffic congestion and higher rates of accident claims. More time on the road means more chance of being in an accident.
Your gender affects rates – Over the last 30 years, statistics show that females tend to be a little less risky than males. This data doesn’t prove that men are worse drivers. Females and males cause accidents in similar percentages, but the male of the species get into accidents with more damage. Men also have more aggressive citations such as DWI and reckless driving.
The illustration below illustrates the difference between Lincoln MKT auto insurance rates for male and female drivers. Data assumes a clean driving record, no claims, full physical damage coverage, $100 deductibles, drivers are single, and no discounts are taken into consideration.
Keep the miles off and save – The more miles you rack up on your Lincoln every year the more you’ll pay to insure it. Most companies rate vehicles partially by how you use the vehicle. Cars that sit idle most of the time receive better premium rates compared to those used for work or business. An incorrectly rated MKT is just wasting money. Make sure your vehicle rating is rated on annual mileage, because improper ratings can cost you money.
Pay more for higher performance vehicles – The performance level of the car or truck you need to insure makes a huge difference in your car insurance bill. Economy passenger cars generally receive the lowest base rates, but many other things help determine your insurance rates.
The chart below uses these assumptions: married male driver age 40, full coverage with $1000 deductibles, and no discounts or violations. The data compares Lincoln MKT rates compared to other makes and models that have a range of performance risks.
Frequent insurance claims increase rates – If you file claims often, you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance companies in Nevada generally give discounts to drivers who are not frequent claim filers. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.
Lincoln MKT insurance loss data – Insurers use past loss statistics for each vehicle as a way to help calculate a profitable premium rate. Vehicles that the data shows to have a trend towards higher claim severity or frequency will cost more for coverage.
The table shown below demonstrates the compiled insurance loss statistics for Lincoln MKT vehicles. For each policy coverage type, the loss probability for all vehicles combined as an average is equal to 100. Values below 100 mean the vehicle has better than average losses, while percentage numbers above 100 point to more losses or tendency to have higher 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
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Don’t give up on cheap rates
Cheaper Lincoln MKT insurance in Henderson can be bought both online and from local insurance agents, so you need to quote Henderson car insurance with both in order to have the best chance of saving money. Some insurance companies do not offer price quotes online and many times these regional insurance providers only sell coverage through local independent agencies.
We just covered some good ideas how you can shop for Lincoln MKT insurance online. The key thing to remember is the more rate quotes you have, the better your comparison will be. You may even find the best price on insurance is with some of the lesser-known companies. Smaller companies can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.
How to find cheaper Lincoln MKT insurance in Henderson
It takes a few minutes, but the best way to find low-cost prices for Lincoln MKT insurance is to regularly compare price quotes from insurance carriers who sell insurance in Henderson. Drivers can shop around by following these guidelines.
First, spend a few minutes and learn about car insurance and the measures you can control to prevent expensive coverage. Many rating factors that result in higher prices such as tickets, at-fault accidents, and a not-so-good credit history can be improved by making lifestyle changes or driving safer.
Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or Allstate, while independent agencies can give you price quotes from multiple companies.
Third, compare the new rate quotes to your current policy and see if you can save money. If you can save some money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, give proper notification to your current agent or company to cancel your current coverage and submit the application along with any required down payment to your new agent or company. As soon as coverage is bound, store the certificate verifying proof of insurance in an easily accessible location in your vehicle.
One tip to remember is that you use the same physical damage deductibles and liability limits on every price quote and and to compare as many different companies as possible. Doing this enables a level playing field and and a good selection of different prices.
To learn more, take a look at the following helpful articles:
- Child Safety Seats (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for a Ford Edge in Henderson? (FAQ)
- Who Has Affordable Auto Insurance Rates for Drivers Requiring a SR22 in Henderson? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- Airbag FAQ (iihs.org)