Cheap Lincoln MKZ Insurance in Louisville

If you want to save the most money, the best way to get discount auto insurance rates in Louisville is to compare quotes annually from insurance carriers in Kentucky.

  1. Read and learn about how insurance works and the steps you can take to keep rates down. Many rating criteria that drive up the price like getting speeding tickets and a poor credit rating can be improved by making minor changes to your lifestyle. Later in this article we will cover tips to prevent rate hikes and find overlooked discounts.
  2. Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like GEICO or State Farm, while independent agencies can quote rates from multiple insurance companies.
  3. Compare the quotes to your existing coverage to determine if you can save on MKZ insurance in Louisville. If you find a better price and make a switch, make sure there is no lapse in coverage.

One thing to remember is to try to use the same deductibles and limits on every quote and and to compare as many carriers as you can. This ensures the most accurate price comparison and and a good selection of different prices.

Discount Lincoln MKZ insuranceSmart shoppers know that insurance companies don’t want you to look at other companies. Consumers who get comparison quotes at least once a year are likely to switch to a new company because there is a high probability of finding lower prices. A study discovered that drivers who did price comparisons regularly saved approximately $3,450 over four years compared to those who never shopped around for better prices.

If saving the most money on car insurance in Louisville is why you’re here, learning how to find and compare coverage rates can help make the process easier and more efficient.

Comparison shopping for the most affordable coverage in Louisville is easy if you know what you’re doing. Nearly anyone who needs lower cost auto insurance stands a good chance to be able to cut their insurance bill. Nevertheless, Kentucky vehicle owners can benefit from knowing the way insurance companies price insurance differently and apply this information to your search.

To find the cheapest Lincoln MKZ rate quotes, there are several ways to compare prices from different Louisville insurance companies. The fastest way to find the lowest rates involves getting comparison quotes online.

Comparing free price quotes online is easy and it, replaces the need to physically go to local Louisville insurance agencies. Buying insurance online reduces the need to sit down with an agent unless your situation requires the peace of mind of an agent trained in personal lines coverage. If you prefer, some companies allow you to compare the best prices online but buy from a local insurance agent. When price shopping your coverage, quoting more helps locate more affordable insurance.

The providers in the list below can provide price comparisons in Kentucky. If you want to find the cheapest auto insurance in KY, we recommend you visit several of them to get a more complete price comparison.

Coverage information

The premium table displayed next showcases estimates of insurance prices for Lincoln MKZ models. Understanding how rate quotes are formulated can aid in making decisions on the best policy to buy.

Lincoln MKZ Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $280 $664 $446 $26 $134 $1,550 $129
MKZ AWD 4-Dr Sedan $280 $664 $446 $26 $134 $1,550 $129
Get Your Own Custom Quote Go

Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Rates do not factor in specific garaging location which can influence insurance rates significantly.

Policy deductible comparison

One common question asked by Louisville drivers is how high should the physical damage deductibles be. The figures shown below may help to conceptualize the rate difference when you buy lower versus higher physical damage coverage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second set of rates uses a $1,000 deductible.

Lincoln MKZ insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $318 $688 $368 $22 $110 $1,531 $128
MKZ AWD 4-Dr Sedan $318 $688 $368 $22 $110 $1,531 $128
Get Your Own Custom Quote Go

Lincoln MKZ insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $176 $362 $368 $22 $110 $1,038 $87
MKZ AWD 4-Dr Sedan $176 $362 $368 $22 $110 $1,038 $87
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price information does not factor in specific location information which can raise or lower rates noticeably.

We can derive from the above data that using a $100 deductible will cost you roughly $41 more each month or $492 each year than opting for the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you normally average at a minimum 22 months between claim filings, you would save more money going with the higher deductible.

The diagram below shows how choosing a deductible and can impact Lincoln MKZ annual premium costs for each age group. The premium estimates are based on a single male driver, full coverage, and no discounts are taken into consideration.

Full coverage versus liability only rates

The diagram below shows the difference between Lincoln MKZ insurance rates when comparing full coverage to state minimum liability only. The prices are based on a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no policy discounts are applied.

When to stop paying for full coverage

There is no exact formula to delete comp and collision coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Lincoln MKZ replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after the policy deductible has been paid. If it’s costing you more than $700 annually to have full coverage, then you may want to consider only buying liability coverage.

There are some circumstances where dropping full coverage is not advised. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not buy liability only.

Auto insurance does more than just repair your car

Even though Louisville MKZ insurance rates can get expensive, paying for auto insurance is required by state law in Kentucky and it also provides benefits you may not be aware of.

First, just about all states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you have a lien on your vehicle, most lenders will require that you buy insurance to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank may buy a policy for your Lincoln at a significantly higher premium and make you pay for the much more expensive policy.

Third, insurance safeguards both your assets and your vehicle. Insurance will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, your policy will cover the damage repairs after a deductible is paid.

The benefits of buying auto insurance are definitely more than the cost, particularly for liability claims. On average, a vehicle owner in Louisville is overpaying more than $810 a year so compare quotes from several companies at least once a year to ensure rates are competitive.

Why Your Insurance Premiums might be higher

It’s important that you understand the rating factors that are used to determine your premiums. When consumers understand what impacts premium levels, this enables informed choices that can help you get cheaper rates. Many things are used when you get a price on insurance. Some of the criteria are obvious such as your driving history, although some other factors are more transparent like your vehicle usage or how financially stable you are.

Male premiums may be higher – Statistics show that women are safer drivers than men. However, this does not mean women are better drivers. Both genders cause accidents at about the same rate, but men get into accidents with more damage. Not only that, but men also get cited for more serious violations such as reckless driving.

The chart below visualizes the comparison of Lincoln MKZ insurance costs for male and female drivers. The costs are based on no accidents, no driving violations, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Youthful drivers cost more – Older insureds are shown to be more cautious, tend to cause fewer accidents, and are safer drivers. Youthful drivers are statistically shown to be more careless when behind the wheel therefore auto insurance rates are much higher.

The following chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

You might want pay the inexpensive auto insurance claims yourself – Car insurance companies in Kentucky award lower rates to policyholders who do not file claims often. If you frequently file small claims, you can look forward to higher rates. Your insurance policy is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.

Optional features impact premiums – Purchasing a vehicle with a theft deterrent system can help lower your premiums. Advanced theft deterrents such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help prevent your vehicle from being stolen.

Bundle and save – Lots of companies will give better rates to insureds that purchase more than one policy such as combining an auto and homeowners policy. Even with this discount applied, consumers should still compare other company rates to help guarantee you have the best rates.There is a chance you can save more without the discount even if you have your coverage with different companies

Careless drivers pay higher prices – Having just one citation may increase your cost by as much as twenty percent. Drivers with clean records pay lower auto insurance prices compared to drivers with tickets. People who have flagrant violations such as DUI or willful reckless driving may need to maintain a SR-22 with the DMV in their state in order to prevent a license revocation.

The example below demonstrates how speeding tickets and at-fault fender-benders raise Lincoln MKZ auto insurance rates for different age groups. The rate quotes are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are taken into consideration.

The more you drive the more you pay – The more you drive your Lincoln in a year’s time the higher the price you pay to insure it. Almost all companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles that are left in the garage receive better premium rates compared to those used for work or business. An improperly rated MKZ may be costing you. It’s a good idea to make sure your auto insurance policy correctly shows annual mileage, because improper ratings can cost you money.

Insurance loss data for a Lincoln MKZ – Companies use past loss statistics for each vehicle to calculate a price that offsets possible losses. Vehicles that the statistics show to have a trend towards higher claim severity or frequency will have higher premium rates.

The table below demonstrates the insurance loss data used by companies for Lincoln MKZ vehicles. For each coverage category, the claim probability for all vehicles, as an average, is set at 100. Numbers under 100 suggest a better than average loss history, while numbers above 100 indicate more frequent claims or an increased likelihood of larger losses.

Lincoln MKZ Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Lincoln MKZ 4dr 2WD 137 85 107 95 89 75
Lincoln MKZ 4dr 4WD 140 82 126 99
Lincoln MKZ Hybrid 4dr 148 84 100 74 82 76

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

Determine discounts on Louisville car insurance

Car insurance is neither fun to buy or cheap, but there may be some discounts that could drop your premiums quite a bit. Some discounts apply automatically when you quote, but a few must be specifically requested before you will receive the discount.Car insurance discounts

One last thing about discounts, some of the credits will not apply to all coverage premiums. A few only apply to specific coverage prices like liability, collision or medical payments. So even though they make it sound like adding up those discounts means a free policy, companies don’t profit that way.

The information below shows the difference between Lincoln MKZ car insurance rates with and without discounts applied to the premium. The rate quotes are based on a female driver, no claims, a clean driving record, Kentucky state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, homeowner, multi-car, multi-policy, and marriage discounts applied.

A few of the larger companies and some of the discounts are:

If you want affordable Louisville car insurance quotes, ask each company or agent which credits you are entitled to. A few discounts may not apply to policies in every state. To find insurers who offer cheap Lincoln MKZ insurance quotes in Louisville, click here to view.

Compare rates but still have a local Louisville insurance agency

A lot of people would rather buy from a local agent and we recommend doing that A nice benefit of comparing rates online is that you can find lower rates but still work with a licensed agent. Buying from local insurance agents is especially important in Louisville.

Insurance agents in LouisvilleFor easy comparison, once you complete this quick form, your coverage information is submitted to participating agents in Louisville that give free quotes for your coverage. It’s much easier because you don’t need to search for an agent as quotes are delivered to you directly. You can find the lowest rates AND an agent nearby. If you wish to get a rate quote from a specific insurance company, you just need to jump over to their website and fill out the quote form the provide.

Deciding on an company is decision based upon more than just the bottom line cost. Agents should be asked these questions:

Upon receiving positive feedback to your questions as well as a price you’re happy with, you may have just found an insurer that meets the criteria to properly service your insurance policy. Just be aware that it’s your policy and you can cancel coverage any time you want so don’t assume that you’re stuck with a specific company indefinitely.

A little work can save a LOT of money

In this article, we presented a lot of techniques to save on Lincoln MKZ insurance in Louisville. The key thing to remember is the more times you quote, the higher the chance of saving money. You may even discover the lowest car insurance rates come from a small mutual company. Smaller companies can often provide lower premium rates in certain areas than their larger competitors like Progressive or GEICO.

Budget-friendly insurance in Louisville can be purchased from both online companies as well as from independent agents in Louisville, and you should compare price quotes from both to have the best rate selection. Some insurance providers may not have online quoting and most of the time these small insurance companies prefer to sell through independent insurance agents.

For more information, link through to the following helpful articles: