Remarkably, a study showed that the vast majority of consumers have stayed with the same insurance company for at least the last four years, and approximately 40% of consumers have never compared rates with other companies. San Jose drivers can cut their rates by up to 35% a year by just comparing quotes, but they don't believe the benefits if they switch to a new company.
The most effective way to find low-cost prices for Lincoln MKT insurance is to start comparing prices regularly from companies who sell insurance in San Jose. You can compare rates by completing these steps.
Step 1: Try to understand how companies price auto insurance and the measures you can take to keep rates down. Many things that drive up the price like at-fault accidents, careless driving, and an imperfect credit score can be remedied by making lifestyle changes or driving safer.
Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or State Farm, while agents who are independent can provide rate quotes from multiple insurance companies.
Step 3: Compare the price quotes to your current policy and determine if cheaper MKT coverage is available. If you find a lower rate quote and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
One key aspect when comparing rates is to make sure you're comparing the same deductibles and limits on each quote and and to get rates from as many car insurance companies as possible. Doing this helps ensure a fair rate comparison and a thorough selection of prices.
Finding the cheapest car insurance coverage in San Jose seems hard but is not really that difficult. If you're already insured, you will be able to get lower rates using the techniques covered below. Nevertheless, California drivers should learn how insurance companies determine what you pay and use this information to your advantage.
Lincoln MKT insurance coverage information
The premium table displayed below showcases different policy rates for Lincoln MKT models. Having a better understanding of how insurance policy rates are calculated can help guide drivers when making informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$412||$766||$650||$38||$194||$2,060||$172|
|MKT 3.7 AWD||$454||$882||$650||$38||$194||$2,218||$185|
|Get Your Own Custom Quote Go|
Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Estimates do not factor in zip code location which can raise or lower rates considerably.
The diagram below illustrates how choosing a deductible and can affect Lincoln MKT insurance costs for different ages of insureds. The data assumes a married male driver, full coverage, and no discounts are factored in.
Rate comparison of full coverage and liability-only
The chart below shows the comparison of Lincoln MKT insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in California. The premium estimates are based on no claims, a clean driving record, $500 deductibles, drivers are not married, and no policy discounts are applied.
When to stop buying physical damage coverage
There is no written rule for excluding comp and collision coverage, but there is a general convention. If the yearly cost of full coverage is about 10% or more of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.
For example, let's pretend your Lincoln MKT replacement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying your policy deductible. If it's costing you more than $500 annually for full coverage, then you might want to consider buying only liability coverage.
There are some situations where buying only liability insurance is not in your best interest. If you haven't satisfied your loan, you have to carry full coverage to protect the lienholder's interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
Learn How to Quote Auto Insurance at a Discount
Lots of factors are part of the equation when you quote your car insurance policy. Most are fairly basic like an MVR report, but other factors are more obscure like where you live or your vehicle rating. Consumers need to have an understanding of the rating factors that are used to determine the level of your policy premiums. When consumers understand what determines base rates, this enables you to make decisions that will entitle you to much lower annual insurance costs.
- Never go without auto insurance - Allowing your coverage to lapse is a guaranteed way to increase your renewal premiums. And not only will insurance be more expensive, failure to provide proof of insurance could earn you a steep fine or even jail time.
- Safety first - Vehicles that have high safety ratings tend to have lower insurance rates. These vehicles reduce occupant injuries and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders.
- Vehicle features that lower prices - Selecting a car model that has a built-in theft deterrent system can help lower your premiums. Theft deterrent systems such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent auto theft and help lower rates.
- Use but don't abuse your insurance - Companies in California generally give the lowest premiums to policyholders who only file infrequent claims. If you file claims often, you can definitely plan on higher rates. Your car insurance is intended for major claims that would cause financial hardship.
Get a ticket, pay higher prices - Your driving citation history has a huge affect on how much you pay. Drivers with clean records have lower premiums than bad drivers. Only having one chargeable violation can bump up the cost to the point where it's not affordable. Drivers who have received flagrant violations like DUI, reckless driving or excessive speeding might be required by their state to complete a SR-22 with their state in order to keep their license.
The chart below shows how speeding tickets and at-fault accidents can influence Lincoln MKT insurance costs for each different age group. The data assumes a single female driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
- Eliminate incidental coverages - There are many extra add-on coverages that can add up on your auto insurance policy. Coverages for vanishing deductibles, better glass coverage, and term life insurance may be costing you every month. These coverages may sound good when you first buy your policy, but your needs may have changed so consider taking them off your policy.
Drive a fast vehicle and pay more - The performance of the car, truck or SUV you are trying to find cheaper insurance for makes a huge difference in your rates. The lowest rates will normally be found when insuring smaller low performance passenger models, but the cost you end up paying is determined by many additional factors.
The following data uses these assumptions: married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It illustrates Lincoln MKT insurance rates compared to other models of vehicles that have a range of performances.
Insurance loss probability for a Lincoln MKT - Insurance companies factor in insurance loss information when they file their rates in each state. Models that the data determines to have higher losses will have higher rates for specific coverages.
The information below illustrates the loss history for Lincoln MKT vehicles. For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, is a value of 100. Percentage numbers below 100 mean the vehicle has better than average losses, while numbers that are greater than 100 show a trend for more claims or an increased chance of a larger loss.
Insurance Loss Ratings for Lincoln MKT Vehicles Specific Lincoln Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lincoln MKT 4dr 2WD 128 133 Lincoln MKT 4dr 4WD 118 85 138 85BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Smart consumers save more
Consumers who switch companies do it for a number of reasons such as delays in responding to claim requests, high rates after DUI convictions, being labeled a high risk driver and even poor customer service. It doesn't matter why you want to switch choosing a new insurance company can be easier than you think.
Cheap Lincoln MKT insurance in San Jose is definitely available on the web and with local San Jose insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance companies do not provide the ability to get a quote online and usually these small, regional companies prefer to sell through local independent agencies.
Throughout this article, we presented a lot of techniques to get a better price on Lincoln MKT insurance in San Jose. It's most important to understand that the more you quote San Jose auto insurance, the better likelihood of getting inexpensive San Jose auto insurance quotes. You may even be surprised to find that the biggest savings come from a small local company.
More tips and info about insurance is located at these sites:
- Car Insurance FAQ (Trusted Choice)
- Who Has Affordable Car Insurance for Drivers with Good Credit in San Jose? (FAQ)
- Who Has Cheap Car Insurance Quotes for Drivers Under 25 in San Jose? (FAQ)
- Who Has Cheap Car Insurance for a Ford F-150 in San Jose? (FAQ)
- What Car Insurance is Cheapest for High Mileage Drivers in San Jose? (FAQ)
- Who Has Affordable San Jose Auto Insurance for Infrequent Drivers? (FAQ)
- Safe Vehicles for Teens (iihs.org)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)