Everyone knows that insurance companies want to keep you from comparing rates. People who compare rates once a year are inclined to buy a different policy because the odds are good of finding a lower rate. Surprisingly, a recent survey revealed that consumers who regularly shopped around saved approximately $3,500 over four years as compared to drivers who didn’t regularly shop around.
If finding budget-friendly insurance is your objective, then having a good understanding the best way to quote and compare auto insurance can make it easier to find better rates.
Truthfully, the best way to find discount Lincoln MKZ insurance in Lubbock is to start comparing prices regularly from different companies in Texas. Rates can be compared by completing these steps.
- Step 1: Take a few minutes and learn about auto insurance and the steps you can take to drop your rates. Many things that increase rates like distracted driving and a bad credit score can be controlled by making small lifestyle or driving habit changes. Read the full article for information to prevent expensive rate increases and find possible discounts that are available.
- Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like GEICO or Farmers Insurance, while independent agencies can give you price quotes for a wide range of companies. Begin your rate comparison
- Step 3: Compare the new rate quotes to your current policy premium and see if you can save money. If you find a better price and change companies, ensure coverage does not lapse between policies.
- Step 4: Provide notification to your current company to cancel your current auto insurance policy and submit the signed application along with the required initial payment to the newly selected company. Once the application is submitted, put the new certificate verifying coverage in an easily accessible location.
An important bit of advice to remember is to try to use the same physical damage deductibles and liability limits on each price quote and and to get prices from as many carriers as you can. Doing this provides an accurate price comparison and maximum price selection.
Low cost Lincoln MKZ insurance prices in Lubbock, TX
The companies shown below provide quotes in Texas. If multiple companies are listed, we suggest you visit two to three different companies to get the best price comparison.
Protect your Lincoln MKZ and other assets
Despite the high cost of buying insurance for a Lincoln MKZ in Lubbock, maintaining insurance is most likely required but also gives you several important benefits.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Lincoln, it’s guaranteed your bank will have a requirement that you carry insurance to guarantee their interest in the vehicle. If you let the policy lapse, the lender may insure your Lincoln at a much higher rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance protects both your assets and your Lincoln MKZ. Insurance will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also covers legal expenses if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will cover the repair costs.
The benefits of carrying adequate insurance more than offset the price you pay, particularly when you have a large claim. But the average American driver is wasting up to $800 each year so you should quote your policy with other companies at every policy renewal to ensure rates are competitive.
Lincoln MKZ coverage analysis
The price information shown next outlines different insurance rates for Lincoln MKZ models. Understanding how auto insurance policy rates are established can be useful when making informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKZ 4-Dr Sedan||$318||$828||$486||$28||$146||$1,806||$151|
|MKZ AWD 4-Dr Sedan||$318||$828||$486||$28||$146||$1,806||$151|
|Get Your Own Custom Quote Go|
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Premium costs do not factor in garaging location in Lubbock which can raise or lower insurance rates substantially.
The illustration below highlights how deductible choice and can change Lincoln MKZ insurance costs for each different age category. The premiums are based on a single male driver, full physical damage coverage, and no other discounts are factored in.
Careless driving habits raise Lubbock auto insurance rates
The information below demonstrates how traffic citations and accidents can impact Lincoln MKZ insurance rates for different age groups of insureds. The costs are based on a single female driver, full coverage, $100 deductibles, and no discounts are factored in.
Full coverage versus liability only rates
The chart below compares Lincoln MKZ auto insurance rates with full physical damage coverage and with liability coverage only. The costs are based on no accidents, no driving violations, $250 deductibles, single status, and no discounts are taken into consideration.
When to buy liability coverage only
There is no set guideline to eliminate physical damage coverage, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Lincoln MKZ replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $7,000 after the policy deductible has been paid. If you are paying over $700 a year for physical damage coverage, then it could be time to drop full coverage.
There are a few cases where removing full coverage is not advised. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Discounts mean cheaper rates for Lincoln MKZ insurance in Lubbock
Buying insurance is not cheap, but you may qualify for discounts that may help make it more affordable. Some trigger automatically when you purchase, but some discounts are required to be asked for before they will apply.
- Responsible Driver Discounts – Accident-free drivers can save as much as half off their rates than less cautious drivers.
- No Accidents – Good drivers with no accidents can earn big discounts in comparison to drivers with a long claim history.
- Senior Citizen Rates – Drivers over the age of 55 may be able to get better insurance rates.
- Employee of Federal Government – Active or former government employment may qualify for a discount when you quote Lubbock auto insurance depending on your insurance provider.
- Active Service Discounts – Having a deployed family member can result in better insurance rates.
- Discount for Low Mileage – Driving less can qualify you for cheaper premium rates.
- Safety Restraint Discount – Drivers who require all vehicle occupants to wear their seat belts can save 10% or more off PIP or medical payments premium.
- Pay Early and Save – If you pay your bill all at once rather than paying in monthly installments you can avoid the installment charge.
- Theft Deterrent System – Cars equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10% off your Lubbock auto insurance quote.
Don’t be shocked that some credits don’t apply to the entire policy premium. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though you would think you would end up receiving a 100% discount, you aren’t that lucky.
The diagram below illustrates the comparison of Lincoln MKZ auto insurance rates with and without discounts applied to the rates. The prices are based on a male driver, no claims, a clean driving record, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, safe-driver, claim-free, and marriage discounts applied.
Large insurance companies and a selection of discounts are detailed below.
- American Family has savings for Steer into Savings, good driver, air bags, accident-free, mySafetyValet, good student, and multi-vehicle.
- Nationwide may include discounts for accident-free, business or organization, easy pay, anti-theft, and Farm Bureau membership.
- MetLife offers discounts including multi-policy, claim-free, accident-free, good driver, good student, defensive driver
- 21st Century offers discounts for driver training, homeowners, early bird, air bags, defensive driver, and teen driver.
- Farmers Insurance may offer discounts for switch companies, business and professional, teen driver, bundle discounts, multi-car, distant student, and homeowner.
- Allstate policyholders can earn discounts including anti-lock brakes, eSmart discount, resident student, new car, 55 and retired, early signing, and good student.
When comparing rates, check with each company or agent how you can save money. Some of the earlier mentioned discounts may not be offered in your state.
Tailor your insurance coverage to you
When quoting and comparing coverage online or from an agent, there isn’t really a one-size-fits-all type of policy. Your needs are unique to you.
For example, these questions could help you determine if your insurance needs would benefit from an agent’s advice.
- Does my Lincoln MKZ need full coverage?
- Do I need rental car coverage?
- Can I cancel at any time?
- Should I file a claim if it’s only slightly more than my deductible?
- What is the difference between personal and commercial auto insurance policies?
- Which companies are cheaper for teen drivers?
- Do I have coverage if my license is suspended?
- Should I drop comprehensive coverage on older vehicles?
- What is PIP insurance?
- If I use my vehicle for business use is it covered?
If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form. It is quick, free and can provide invaluable advice.