It takes a few minutes, but the best way to get more affordable auto insurance rates is to compare prices annually from insurers who provide car insurance in Buffalo. Prices can be compared by completing these steps.
- Learn about auto insurance and the factors you can control to drop your rates. Many things that drive up the price such as high-risk driving behaviors and a substandard credit history can be remedied by improving your driving habits or financial responsibility. Continue reading for tips to get affordable coverage and get bigger discounts.
- Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like Progressive and State Farm, while agents who are independent can quote prices from many different companies. View insurance agents
- Compare the new rate quotes to your current policy and determine if there is any savings. If you can save some money and switch companies, make sure there is no lapse in coverage.
- Notify your company or agent of your decision to cancel your current auto insurance policy and submit a signed application and payment for the new coverage. As soon as you receive it, place your new certificate verifying coverage in a readily accessible location in your vehicle.
The key thing to remember is to compare the same physical damage deductibles and liability limits on every quote and to quote with every insurance company. This helps ensure an accurate price comparison and plenty of rates choose from.
Inconceivable but true, most consumers have been with the same company for four years or more, and just short of a majority have never even shopped around for affordable coverage. New York insurance shoppers could cut their rates by up to 45% a year just by getting comparison quotes, but they just don’t want to save money by comparing rate quotes.
Analysis of Lincoln MKT rates
The data table shown next showcases detailed analysis of prices for Lincoln MKT models. Knowing how car insurance prices are established can help you make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $222 | $398 | $338 | $20 | $102 | $1,080 | $90 |
| MKT 3.7 AWD | $244 | $458 | $338 | $20 | $102 | $1,162 | $97 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Price estimates do not factor in specific location information which can impact coverage prices greatly.
The diagram below illustrates how your deductible choice and can change Lincoln MKT insurance costs for different age categories. The premiums assume a single male driver, full coverage, and no discounts are applied.
How accidents and tickets impact rates
The illustration below shows how traffic citations and at-fault fender-benders impact Lincoln MKT insurance prices for different insured age categories. The rate quotes are based on a married male driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
Buffalo Insurance Premiums are Influenced by These Factors
Smart consumers have a good feel for some of the elements that help calculate your auto insurance rates. If you know what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may result in cheaper rates. Lots of things are taken into consideration when you quote your car insurance policy. Some are pretty understandable such as traffic violations, but other factors are less obvious like your continuous coverage or your financial responsibility.
The items below are some of the most rate-impacting factors auto insurance companies consider when setting premiums.
- High auto insurance claims frequency drives up prices – If you file a lot of claims you shouldn’t be surprised to get either policy cancellation or increased premiums. Car insurance companies in New York generally give the lowest premiums to drivers who do not file claims often. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Car plus home equals more savings – The majority of companies apply better rates to people who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be anywhere from five to ten percent in most cases. Even if you’re getting this discount it’s in your best interest to compare other company rates to make sure you are getting the best deal. You may still find lower rates by buying auto insurance from a different company.
- Always keep your coverage in place – Driving with no insurance can get your license suspended and your next policy will cost more because you let your insurance lapse for non-payment. Not only will you pay higher rates, getting caught without coverage may result in fines and jail time.
- Improve your credit rating and save – Having a good credit score is a big factor in your rate calculation. If your credit could use some work, you could pay less to insure your Lincoln MKT by improving your rating. Insureds with high credit ratings tend to be more responsible and file fewer claims than drivers who have lower credit ratings.
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Men tend to take more risk – Statistics show women tend to be less risk to insure than men. This data doesn’t prove that males are worse at driving than females. Both sexes tend to get into at-fault accidents in similar numbers, but males have costlier accidents. Men also have more aggressive citations such as reckless driving.
The diagram below shows the comparison of Lincoln MKT yearly insurance costs for male and female drivers. The costs are based on no violations or accidents, comprehensive and collision coverage, $250 deductibles, single status, and no discounts are applied to the premium.
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Lincoln MKT claim data – Insurers factor in historical loss data to help determine rates. Models that historically have higher claim frequency or loss amount will have a higher cost to insure. The table below illustrates the compiled insurance loss statistics for Lincoln MKT vehicles.
For each policy coverage type, the claim amount for all vehicles compiled together is set at 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while values that are above 100 point to more frequent losses or statistically larger losses.
Lincoln MKT Insurance Claim Statistics 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 85 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
In conclusion
Throughout this article, we presented some good ideas how to shop for Lincoln MKT insurance online. It’s most important to understand that the more price quotes you have, the better likelihood of getting the cheapest Lincoln MKT rate quotes. You may even discover the best premium rates are with an unexpected company. Regional companies may only write in your state and offer lower prices than the large multi-state companies such as Allstate or State Farm.
Budget-conscious Lincoln MKT insurance can be sourced from both online companies in addition to local insurance agencies, so you need to shop Buffalo car insurance with both to have the best rate selection. Some insurance companies do not provide rates over the internet and usually these regional carriers sell through independent agents.
More tips and info about insurance can be read at these sites:
- Booster Seat Ratings (iihs.org)
- Who Has Cheap Car Insurance for a Subaru Impreza in Buffalo? (FAQ)
- Who Has the Cheapest Buffalo Auto Insurance for 18 Year Olds? (FAQ)
- Who Has Affordable Buffalo Car Insurance Rates for a Ford Fusion? (FAQ)
- What Car Insurance is Cheapest for Teenage Females in Buffalo? (FAQ)
- Event Data Recorders FAQ (iihs.org)
- Avoiding Deer Collisions (Insurance Information Institute)