Cheapest Lincoln MKT Insurance in Virginia Beach

How many times have you told yourself it’s time to shop around for low-cost Lincoln MKT insurance in Virginia Beach? When searching for lower-cost insurance, are you overwhelmed by the sheer number of auto insurance companies in Virginia Beach? Lot’s of other people are too. Virginia drivers have such a large number of options that it can easily turn into a real challenge to find lower premium rates on Lincoln MKT insurance. Lots of people think Virginia Beach is a great place to live, but getting gouged by high auto insurance rates can make it hard for many drivers to keep a tight budget.

A recent auto insurance study discovered that most auto insurance buyers have purchased from the same company for well over three years, and nearly 40% of drivers have never compared rates to find cheap insurance. Virginia insurance shoppers can save roughly 45% each year just by getting comparison quotes, but they won’t spend time to compare rates.

You should make it a habit to get comparison quotes before your policy renews because auto insurance prices tend to go up over time. Even if you got the best price on Lincoln MKT insurance in Virginia Beach at your last renewal other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because we’re going to demonstrate how to quote online to find great coverage at a great price.

If you are already insured, you will most likely be able to reduce premiums using the following tips. This article’s intent is to introduce you to the best way to buy inexpensive insurance and also save some money in the process Nevertheless, Virginia car owners benefit from understanding how big insurance companies market insurance on the web because it varies considerably.

When shopping for cheaper Virginia Beach auto insurance quotes, there are a couple of ways to obtain and compare prices from all the different companies. The fastest way to compare rates is to use the internet to compare rates.

When price shopping your coverage, comparing a wide range of rates will enable you to find the best offered rates. Some smaller insurers do not give price estimates online, so you also need to get rates on coverage from those companies, too.

The following companies can provide free rate quotes in Virginia. If you want to find the cheapest car insurance in Virginia Beach, we recommend you compare several of them to get the most affordable price.

Analysis of Lincoln MKT rates

The coverage information displayed below covers a range of policy rates for Lincoln MKT models. Learning as much as possible about how rates are calculated is important for making informed decisions when comparing rates.

Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Estimates do not factor in garaging location in Virginia Beach which can raise or lower coverage rates considerably.

How high should deductibles be?

One of the more difficult decisions when buying auto insurance is where to set your physical damage deductibles. The premium rates below summarize the difference in cost when you buy lower versus higher physical damage coverage deductibles. The first pricing table uses a $100 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price information does not factor in the specific area where the vehicle is garaged which can affect premiums substantially.

We can estimate from the data above that using a $100 deductible will cost in the ballpark of $22 more each month or $264 every year averaged for all MKT models than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you have more than 18 months between claims, you would come out ahead if you elect the higher deductible.

The Lincoln MKT Insurance Premium Equation

Many factors are taken into consideration when you get your auto insurance bill. A few of the factors are predictable like your driving record, but some are less obvious such as your marital status or your vehicle rating.

• Safer the car lower the rate – Vehicles with good safety scores cost less to insure. The safest vehicles reduce the chance of injuries and lower injury rates means less money paid by your insurance company which can mean better rates for you. If your Lincoln scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
• Higher deductibles lower prices – Physical damage deductibles state the amount of money the insured will be required to pay before a claim is paid by your company. Protection for physical damage, termed comprehensive and collision coverage on your policy, protects your car from damage. Some examples of claims that would be covered would be rear-ending another vehicle, damage from fire, and having a roll-over accident. The higher the amount you pay before a claim is paid (deductible), the better rate you will receive.
• The higher your credit rating the lower your rates – Having a good credit score factor in determining what you pay. If your credit rating is not that good, you could pay less to insure your Lincoln MKT by improving your credit score. People that have excellent credit scores tend to file fewer claims and have better driving records than those with lower ratings.

• Costs go up with performance – The performance level of the vehicle you drive makes a significant difference in your premium level. Smaller low performance passenger cars normally have pretty low rates, but the cost you end up paying is determined by many additional factors.

  The chart below is based on a single female driver age 30, full coverage with $100 deductibles, and no discounts or violations. The chart compares Lincoln MKT car insurance rates compared to other models that have different performance risks.

• Lincoln MKT insurance loss probability – Insurers use statistical claims data to help set a rate to offset losses. Models that tend to have a trend towards higher claim severity or frequency will have a higher premium rate. The information below illustrates the historical loss data for Lincoln MKT vehicles.

  For each insurance policy coverage type, the loss probability for all vehicles, as an average, is considered to be 100. Values that are below 100 mean the vehicle has better than average losses, while values over 100 show a trend for more claims or tendency to have higher losses.

  
  

  Lincoln MKT Insurance Claim Statistics

  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

Car insurance is not optional in Virginia

Despite the high cost, car insurance may not be optional for several reasons.

• The majority of states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability insurance in order to get the vehicle licensed. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
• If your Lincoln has a lienholder, almost all lenders will require you to buy insurance to protect their interest in the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Lincoln for a much higher rate and make you pay a much higher amount than you were paying before.
• Car insurance preserves both your car and your assets. It will also provide coverage for medical expenses that are the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are sued as the result of an accident. If you have damage to your Lincoln as the result of the weather or an accident, your car insurance policy will pay to have it repaired.

The benefits of buying car insurance definitely exceed the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is currently overpaying as much as $825 a year so it’s very important to do a rate comparison at every renewal to be sure current rates are still competitive.