I really doubt anyone loves paying for insurance, in particular when it costs too dang much.
It’s a fact that insurance companies don’t want you quoting rates from other companies. Insureds who shop around for cheaper prices are likely to move their business because of the good chance of finding a lower-cost company. A study showed that consumers who compared prices once a year saved about $72 a month compared to policyholders who don’t make a habit of comparing rates.
If finding the cheapest rates on car insurance is the reason for your visit, learning how to find and compare car insurance can save time and make the process easier.
How to find cheaper quotes for Lincoln MKX insurance in Lubbock
The preferred way to find cheaper auto insurance rates is to start comparing prices regularly from different companies who provide auto insurance in Lubbock.
- Read and learn about individual coverages and the factors you can control to keep rates low. Many things that drive up the price such as accidents, careless driving, and a negative credit score can be improved by being financially responsible and driving safely. Later in this article we will cover more details to help prevent costly coverage and earn a bigger discount.
- Compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agencies can quote prices from multiple sources. Find a Lubbock insurance agent
- Compare the new quotes to your current policy to see if a cheaper price is available. If you find better rates and decide to switch, verify that coverage does not lapse between policies.
One piece of advice is to use identical deductibles and limits on every price quote and and to get rate quotes from all possible companies. Doing this guarantees the most accurate price comparison and maximum price selection.
Big-name insurance companies like GEICO, Progressive and Allstate all claim big savings with ads and it is challenging if not impossible to ignore the flying pigs and cute green geckos and find the best price available.
If you have a current auto insurance policy, you will most likely be able to get lower rates using this strategy. Choosing the best rates in Lubbock is not that difficult as long as you know where to start. Nevertheless, Texas drivers do need to know how companies calculate their prices because it varies considerably.
Detailed insurance information
The price information displayed next showcases different insurance costs for Lincoln MKX models. Learning a little about how insurance premiums are formulated can help you make smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Table data does not factor in specific Lubbock garaging location which can raise or lower prices noticeably.
Price comparison of only insuring for liability
The information below compares Lincoln MKX auto insurance costs with and without physical damage coverage. The data is based on no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying full coverage
There is no clear-cut formula that works best for making the decision to drop physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s assume your Lincoln MKX settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after paying your deductible. If premium cost is more than $200 annually to have full coverage, then it might be time to buy liability only.
There are a few cases where dropping physical damage coverage is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.
Auto insurance quotes and discounts
Auto insurance is not inexpensive, but companies offer discounts that many people don’t even know exist. Certain discounts will be triggered automatically when you complete an application, but a few must be asked about before they will apply.
- New Vehicle Savings – Adding a new car to your policy can save up to 30% since newer models have better safety ratings.
- Good Student – Being a good student could provide a savings of up to 20% or more. This discount can apply up until you turn 25.
- Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and that can save you a little bit as well.
- E-sign – Some insurance companies will give you a small discount for completing your application digitally online.
- Accident Free – Insureds who avoid accidents and claims get the best auto insurance rates when compared with drivers with a long claim history.
- ABS Brakes – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents and the ABS can save up to 10%.
- Air Bags and Passive Restraints – Factory air bags may get savings of up to 25% or more.
- Drivers Education – Reduce the cost of insurance for teen drivers by having them take driver’s ed class in school or through a local driver safety program.
- Clubs and Organizations – Being a member of qualifying employment or professional organizations could qualify you for a break when getting a Lubbock auto insurance quote.
Please keep in mind that some of the credits will not apply to the whole policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think you could get a free auto insurance policy, you won’t be that lucky. Any amount of discount should help reduce your policy premiums.
The information below visualizes the comparison of Lincoln MKX yearly insurance costs with and without discounts applied to the rates. The costs are based on a female driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, claim-free, multi-policy, homeowner, and multi-car discounts applied.
A list of companies and some of the discounts can be found below.
- GEICO discounts include anti-lock brakes, multi-policy, emergency military deployment, driver training, military active duty, good student, and membership and employees.
- MetLife offers discounts for good driver, accident-free, multi-policy, claim-free, and defensive driver.
- State Farm may offer discounts for multiple autos, safe vehicle, Drive Safe & Save, passive restraint, anti-theft, and good student.
- Progressive may include discounts for online quote discount, good student, multi-vehicle, multi-policy, homeowner, and online signing.
- Mercury Insurance policyholders can earn discounts including location of vehicle, annual mileage, professional/association, good driver, multi-policy, low natural disaster claims, and ease of repair.
- 21st Century offers premium reductions for good student, automatic seat belts, defensive driver, teen driver, early bird, and theft prevention.
- Allstate may have discounts that include premier plus, anti-lock brakes, senior citizen, utility vehicle, and auto/life discount.
If you need lower rates, check with all companies you are considering how you can save money. Some of the discounts discussed earlier may not apply to policyholders in Lubbock. To locate providers that offer some of these discounts in Lubbock, click here to view.
Specific coverage details
Knowing the specifics of car insurance can be of help when determining appropriate coverage for your vehicles. Car insurance terms can be impossible to understand and reading a policy is terribly boring. These are the usual coverages found on most car insurance policies.
Liability coverage protects you from damages or injuries you inflict on other people or property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 30/60/25 which means a $30,000 limit per person for injuries, a total of $60,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability insurance covers things such as attorney fees, repair costs for stationary objects, emergency aid, court costs and loss of income. How much liability should you purchase? That is a decision to put some thought into, but buy higher limits if possible. Texas requires minimum liability limits of 30/60/25 but you should consider buying more liability than the minimum.
The chart below demonstrates why buying minimum limits may not be enough coverage.
This covers damage to your MKX caused by collision with an object or car. A deductible applies and then insurance will cover the remainder.
Collision insurance covers things like crashing into a building, hitting a parking meter, sideswiping another vehicle and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. It’s also possible to increase the deductible on your MKX in order to get cheaper collision rates.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage reimburse you for immediate expenses for things like X-ray expenses, rehabilitation expenses and ambulance fees. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your Lincoln MKX.
Since many Texas drivers have only the minimum liability required by law (which is 30/60/25), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as damage from a tornado or hurricane, hail damage, damage from flooding and theft. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Persistence pays off
Some insurance providers may not offer rates over the internet and most of the time these regional carriers only sell coverage through independent insurance agents. Cost effective Lincoln MKX insurance is available from both online companies and from local insurance agents, and you should compare rates from both so you have a total pricing picture.
As you restructure your insurance plan, it’s not a good idea to sacrifice coverage to reduce premiums. There are many occasions where consumers will sacrifice liability coverage limits only to find out that it was a big error on their part. Your focus should be to find the BEST coverage at the best possible price and still be able to protect your assets.
We’ve covered many ideas to compare Lincoln MKX insurance prices in Lubbock. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may even find the biggest savings come from a lesser-known regional company. Some small companies can often provide lower rates in certain areas than their larger competitors like State Farm and Allstate.
Steps to finding affordable quotes for Lincoln MKX insurance in Lubbock
To save the most money, the best way to get the cheapest car insurance rates is to begin comparing prices regularly from providers who sell auto insurance in Lubbock.
Step 1: Try to learn about car insurance and the measures you can control to prevent rate increases. Many rating factors that result in higher rates such as traffic violations, accidents, and a lousy credit rating can be amended by being financially responsible and driving safely.
Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or Allstate, while independent agencies can give you price quotes from multiple insurance companies. View insurance agents
Step 3: Compare the price quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate and make a switch, make sure coverage is continuous and does not lapse.
Step 4: Give proper notification to your current agent or company of your intention to cancel your existing policy and submit a down payment and signed policy application to the newly selected company. Make sure you place your new proof of insurance paperwork in an accessible location in your vehicle.
One tip to remember is to compare identical coverage information on each price quote and and to analyze every company you can. This enables a fair price comparison and plenty of rates choose from.
- Older Driver Statistics (Insurance Information Institute)
- Who Has Affordable Lubbock Auto Insurance for a School Permit? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Unemployed Drivers in Lubbock? (FAQ)
- Who Has Cheap Car Insurance Quotes for Safe Drivers in Lubbock? (FAQ)
- Who Has Cheap Auto Insurance Rates for Good Students in Lubbock? (FAQ)
- How Much is Auto Insurance for Retired Military in Lubbock? (FAQ)
- What Car Insurance is Cheapest for 4×4 Vehicles in Lubbock? (FAQ)
- Keeping Children Safe in Crashes Video (iihs.org)
- Credit Impacts Car Insurance Rates (State Farm)