Cheapest Lincoln MKT Insurance in Colorado Springs

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It's easy to assume that car insurance companies don't want their policyholders to compare prices. Drivers who shop for lower prices are inclined to switch companies because there is a great chance of finding lower prices. A recent survey revealed that consumers who made a habit of comparing rates saved an average of $3,400 over four years compared to policyholders who don't regularly compare prices.

If finding discount rates on car insurance is your objective, then having some knowledge of how to quote prices and compare insurance premiums can help simplify the task of finding more affordable coverage.

Insurance rates Lincoln MKT in Colorado SpringsReally, the only way to find cheaper quotes for Lincoln MKT insurance is to compare prices regularly from providers in Colorado Springs. Rates can be compared by following these steps.

  1. Take a few minutes and learn about how car insurance works and the modifications you can make to keep rates in check. Many rating criteria that increase rates like high-risk driving behaviors and a low credit rating can be rectified by being financially responsible and driving safely. Read the full article for more information to keep prices down and find additional discounts you may qualify for.
  2. Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agents can quote prices from many different companies. Click to view companies
  3. Compare the new rate quotes to your existing rates to see if cheaper MKT coverage is available. If you find a better price and decide to switch, ensure there is no coverage lapse between policies.
  4. Provide notification to your current company of your intent to cancel your current car insurance policy and submit any necessary down payment along with the completed application to the new company. As soon as you have the new policy, keep your new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.

One piece of advice is to try to use the same amount of coverage on each quote request and and to get price quotes from as many different companies as possible. Doing this ensures an accurate price comparison and a complete rate analysis.

This information will instruct you on the best way to quote coverages. If you have coverage now, you will surely be able to lower your rates using the techniques presented in this article. Drivers just need to use the proper methods to shop for car insurance using one simple form.

Cutting your auto insurance rates is surprisingly easy. All you need to do is take a few minutes to compare rates to discover which company has inexpensive Colorado Springs auto insurance quotes.

The providers in the list below are ready to provide price comparisons in Colorado. If your goal is to find cheap auto insurance in Colorado Springs, it's highly recommended you click on several of them to get a more complete price comparison.

Get cheaper Lincoln MKT insurance rates in Colorado Springs

Companies that sell car insurance don't always advertise all available discounts very clearly, so the list below contains some of the more common and also the more inconspicuous discounts you could be receiving when you buy Colorado Springs auto insurance online.Save money with discounts

  • Accident-Free Discounts - Drivers who don't have accidents can earn big discounts as opposed to insureds who have frequent claims or accidents.
  • Drive Safe and Save - Drivers who don't get into accidents can save up to 40% or more on their Colorado Springs auto insurance quote than drivers with accidents.
  • Defensive Driver Discount - Completing a safe driver class could cut 5% off your bill and easily recoup the cost of the course.
  • Full Payment Discount - By paying your entire bill at once instead of making monthly payments you can avoid monthly service charges.
  • Own a Home - Just owning your own home can earn you a little savings due to the fact that maintaining a home requires a higher level of personal finance.
  • Drivers Ed for Students - Teen drivers should enroll and complete driver's education in high school.
  • Clubs and Organizations - Belonging to a professional or civic organization is a good way to get lower rates on your next renewal.
  • Discounts for Multiple Vehicles - Buying coverage for primary and secondary vehicles with the same company can get a discount on all vehicles.

As a footnote on discounts, most of the big mark downs will not be given to your bottom line cost. Most only apply to the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, companies wouldn't make money that way.

The information below visualizes the comparison of Lincoln MKT auto insurance costs with and without discounts applied to the rates. Data assumes a female driver, no claims or driving citations, Colorado 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, claim-free, homeowner, multi-policy, safe-driver, and marriage discounts applied.

A few of the larger companies and some of their more popular discounts are outlined below.

  • Farm Bureau may offer discounts for 55 and retired, renewal discount, driver training, good student, multi-vehicle, and youthful driver.
  • MetLife offers discounts including accident-free, good student, defensive driver, good driver, and multi-policy.
  • Progressive has discounts for multi-vehicle, continuous coverage, online quote discount, multi-policy, and homeowner.
  • AAA may have discounts that include multi-car, multi-policy, AAA membership discount, pay-in-full, and anti-theft.
  • American Family includes discounts for good student, defensive driver, bundled insurance, Steer into Savings, TimeAway discount, and early bird.
  • GEICO offers discounts for multi-policy, anti-lock brakes, military active duty, anti-theft, and defensive driver.
  • State Farm has savings for multiple autos, passive restraint, driver's education, defensive driving training, and accident-free.

Before buying, ask each company or agent how many discounts you can get. A few discounts may not apply to policyholders in Colorado Springs.

Data for Lincoln MKT insurance

The data table shown below covers a range of insurance policy prices for Lincoln MKT models. Being aware of how rate quotes are determined can help guide drivers when making decisions when choosing a new policy provider.

Lincoln MKT Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $266 $492 $516 $30 $154 $1,458 $122
MKT 3.7 AWD $294 $566 $516 $30 $154 $1,560 $130
Get Your Own Custom Quote Go

Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price information does not factor in your specific Colorado Springs location which can raise or lower coverage prices noticeably.

Physical damage deductibles

When comparing insurance rates, the most common question is which deductible level should you buy. The premium rates below may help you to understand the price difference when you buy lower versus higher deductibles. The first set of prices uses a $250 comprehensive and collision deductible and the second data table uses a $500 deductible.

Lincoln MKT insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $342 $538 $396 $24 $118 $1,443 $120
MKT 3.7 AWD $376 $620 $396 $24 $118 $1,559 $130
Get Your Own Custom Quote Go
Lincoln MKT insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $278 $434 $396 $24 $118 $1,250 $104
MKT 3.7 AWD $306 $500 $396 $24 $118 $1,344 $112
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Price estimates do not factor in your specific Colorado Springs location which can change prices considerably.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you approximately $17 more each month or $204 a year than opting for the higher $500 deductible. Since you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you usually have at a minimum 15 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $125
Average monthly premium for $500 deductibles (subtract): - $108
Monthly savings from raising deductible: $17
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $17
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

One thing to note is that raising deductibles to save money means you pay more out-of-pocket when you file a claim. That will require some non-essential savings in order to pay more to get your vehicle repaired.

Drive safe and save

The example below illustrates how speeding tickets and accidents influence Lincoln MKT annual premium costs for different age categories. The rates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.

Lincoln MKT liability-only versus full coverage

The chart below compares Lincoln MKT yearly insurance costs with full physical damage coverage and with liability coverage only. The costs are based on no tickets, no at-fault accidents, $250 deductibles, single status, and no other discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no definitive formula for excluding physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.

For example, let's pretend your Lincoln MKT replacement cost is $8,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If it's costing in excess of $700 annually for your policy with full coverage, then you may need to consider dropping full coverage.

There are a few situations where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.

Why Informed Drivers Pay Less for Lincoln MKT Insurance

Many different elements are part of the equation when you get your auto insurance bill. Some are pretty understandable like your driving record, but some are less apparent like your vehicle usage or your financial responsibility. When buying insurance it's important to understand a few of the rating criteria that aid in calculating insurance rates. When you understand what impacts premium levels, this enables informed choices that can earn you lower rates.

  • Premiums are lower the older you get - Older drivers are shown to be more cautious, statistically cause fewer accidents, and tend to be get fewer driving tickets. Teenage drivers are proven to be inattentive with other occupants in the car and because of this, their insurance rates are much higher.

    The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Increase coverage deductibles to save - Coverage for physical damage, aka comp and collision, is used to repair damage to your vehicle. Some coverage claims could be collision with another vehicle, vandalism, and damage caused by flying debris. The deductibles state the amount of money you are required to spend out-of-pocket before your insurance pays a claim. The more of the claim the insured is willing to pay, the less your insurance will be.
  • Multi-policy discounts can save money - Some companies allow lower prices to policyholders who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you still need to compare other company rates to verify if the discount is saving money. Drivers may still find better rates by buying from different companies
  • Drive less and get lower rates - Driving more miles every year the more you will pay for insurance. Most insurance companies price each vehicle's coverage based on how the vehicle is used. Cars used primarily for pleasure use receive better premium rates than those used for commuting. Incorrect rating for your MKT can result in significantly higher rates. It's always a good idea to double check that your insurance coverage states the correct usage for each vehicle, because improper ratings can cost you money.
  • How much liability - The liability section of your policy is the coverage that protects you when you are determined to be liable for damages from an accident. This coverage provides for a legal defense to attempt to prove you were not liable. It is affordable coverage when compared with rates for comp and collision, so do not skimp.
  • Premiums also based on gender - Over the last 30 years, statistics show that men are more aggressive behind the wheel. It does not mean females are better at driving than males. Males and females have at-fault accidents in similar percentages, but the men get into accidents with more damage. Men also statistically get higher numbers of serious violations such as reckless driving. Young males are the most expensive to insure so they pay the highest premiums.

    The information below shows the comparison of Lincoln MKT auto insurance costs for male and female drivers. The rate quotes are based on no accidents, no driving violations, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are applied.

  • Lower premiums with alarm systems - Buying a car with anti-theft technology or alarm system can help lower your premiums. Systems that thwart thieves like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all help stop your car from being stolen.
  • Your vocation can affect premiums - Occupations such as judges, business owners, and financial analysts tend to pay higher average rates because of high stress and lengthy work days. On the other hand, professions such as professors, historians and the unemployed receive lower rates.
  • Lincoln MKT claim probability - Companies analyze past claim statistics to help determine prices. Vehicles that the data determines to have a trend towards higher claim severity or frequency will have a higher premium rate. The data below shows the loss history for Lincoln MKT vehicles.

    For each policy coverage, the loss probability for all vehicles, regardless of make or model, is represented as 100. Numbers below 100 suggest a positive loss record, while percentage numbers above 100 indicate more frequent claims or an increased chance of a larger loss.

    Lincoln MKT Insurance Claim Statistics
    Vehicle Make and 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
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Compare rate quotes but buy from a neighborhood Colorado Springs auto insurance agent

A small number of people still prefer to talk to a local agent and that is a personal choice. Agents can help you build your policy and help submit paperwork. An additional benefit of getting online price quotes is you may find cheap car insurance quotes and still buy from a local agent. And supporting neighborhood insurance agencies is definitely important in Colorado Springs.

Colorado Springs insurance agentsOnce you complete this simple form, your coverage information gets sent to insurance agents in Colorado Springs who will give you bids for your insurance coverage. There is no need to drive around since price quotes are sent instantly to you. In the event you want to get a price quote from a specific company, you can always navigate to their website to submit a rate quote request.

If you want a local agent, it helps to know the two different types of agencies that you can choose from. Agents are considered either exclusive or independent. Both write policy coverage, but it's important to know the difference in how they write coverage because it may have an impact on which type of agent you select.

Independent Car Insurance Agents

Agents that choose to be independent can sell policies from many different companies and that enables them to quote your coverage with lots of companies and find you cheaper rates. If your premiums go up, the agent simply finds a different carrier and you don't have to switch agencies. When comparison shopping, you definitely need to get insurance quotes from independent agents to maximize your price options. A lot of them also have access to smaller companies that can offer cheaper rates than bigger companies.

Featured below are independent insurance agencies in Colorado Springs who may provide rate quotes.

More insurance agents

Exclusive Car Insurance Agents

Exclusive agencies can only quote rates from one company and examples are Allstate and State Farm. Exclusive agents cannot compare rates from other companies so you need to shop around if the rates are high. They are well trained on their company's products which helps offset the inability to provide other markets. Some consumers prefer to use the same agent mostly because of the prominent brand name rather than having low rates.

Listed below is a short list of exclusive insurance agents in Colorado Springs who can help you get rate quotes.

More insurance agents

Finding a good insurance agency needs to be determined by more than just the bottom line cost. These are some valid questions you should ask.

  • Are they actively involved in the community?
  • How does the company pay claims for a total loss?
  • Is vehicle damage repaired with OEM or aftermarket parts?
  • Is insurance their full-time profession?
  • Will one accident increase rates?
  • If you are a high risk driver, do they have special markets for your coverage?
  • Where are claims handled?
  • Which company do they place the most coverage with?

Tailor your auto insurance coverage to you

When buying a policy for your vehicles, there really is no best way to insure your cars. Your situation is unique.Safe vehicles cost less to insure

These are some specific questions can help discover if you may require specific advice.

  • Do I have coverage if my license is suspended?
  • Is my babysitter covered when using my vehicle?
  • Can I get by with minimal medical coverage if I have good health insurance?
  • Do I benefit by insuring my home with the same company?
  • Am I covered if I hit someone who is not insured?
  • Can I pay claims out-of-pocket if I buy high deductibles?

If it's difficult to answer those questions but a few of them apply then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form. It only takes a few minutes and you can get the answers you need.

Colorado Springs auto insurance companies ranked

Buying coverage from the best auto insurance provider is hard considering how many companies are available to choose from in Colorado Springs. The company information shown next could help you decide which companies to look at to insure your vehicles.

Top 10 Colorado Springs Car Insurance Companies Ranked by Value

  1. USAA
  2. American Family
  3. The Hartford
  4. Titan Insurance
  5. The General
  6. Mercury Insurance
  7. AAA Insurance
  8. State Farm
  9. Nationwide
  10. Safeco

You can find cheaper coverage

People leave their current company for any number of reasons including delays in responding to claim requests, delays in paying claims, questionable increases in premium or even unfair underwriting practices. It doesn't matter what your reason, finding a new company is not as hard as you think.

The cheapest Lincoln MKT insurance in Colorado Springs can be purchased both online as well as from independent agents in Colorado Springs, and you need to comparison shop both to have the best rate selection. There are still a few companies who do not provide the ability to get a quote online and these small, regional companies work with local independent agencies.

When you buy Colorado Springs auto insurance online, it's very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced liability limits or collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your objective should be to purchase a proper amount of coverage at an affordable rate, but do not sacrifice coverage to save money.

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