Finding cheaper insurance for a Lincoln MKX in Indiana can turn out to be a lot of work, but you can learn these tips to make it easier. There are both good and bad ways to shop for auto insurance and we'll show you the absolute fastest way to quote coverages for a Lincoln and get the best price possible either online or from Indianapolis insurance agents.
Surprisingly, a recent survey revealed that 70% of consumers have stayed with the same insurance company for over three years, and 38% of customers have never shopped around. Indiana consumers could save almost $697 every year just by shopping around, but they just don't understand how much they could save if they switched to a more affordable policy.
Buying the cheapest insurance in Indianapolis can be easy if you know a few tricks. If you have a current insurance policy or just want a better rate, you can use these tips to get lower rates without having to cut coverage. Shoppers just have to use the most efficient way to shop for insurance online from multiple companies.
The Lincoln MKX Insurance Rate Equation
An important part of buying insurance is that you know the factors that help determine your premiums. If you know what controls the rates you pay, this enables informed choices that can earn you big savings. Many factors are part of the calculation when you get a price on insurance. Some are obvious like your driving record, although others are more obscure like your continuous coverage or how safe your car is.
Advanced alarms and GPS tracking - Driving a car with a theft deterrent system can get you a discount on your auto insurance. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping your car from being stolen.
Cheaper premiums for prior coverage - Allowing your auto insurance policy to lapse will be a guaranteed way to bump up your auto insurance costs. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you a hefty fine and possibly a revoked license.
Drive a fast car and pay more - The performance level of the car you need insurance for makes a big difference in how high your rates are. The cheapest rates tend to be for lower cost passenger vehicles, but the final cost of insurance is determined by many other factors. Since the Lincoln MKX is considered a luxury crossover, insurance will be substantially more as compared to the average rate in Indianapolis.
Marriage can lower rates - Getting married actually saves money on your auto insurance bill. Having a significant other means you're more mature and responsible it has been statistically shown that married drivers tend to file fewer claims.
Prices impacted by vehicle usage - The higher the mileage driven annually the higher your rate. The majority of insurers charge rates determined by how the vehicle is used. Vehicles that do not get driven very much can be on a lower rate level than vehicles that have high annual mileage. Double check that your auto insurance declarations sheet is rated on how each vehicle is driven. A policy that improperly rates your MKX may be costing you higher rates.
Premiums increase with driving tickets - Careful drivers tend to pay less for car insurance than bad drivers. Only having one speeding ticket or other violation could increase your next policy renewal forty percent or more. Drivers who have multiple tickets like reckless driving or DUI may be required to prove financial responsibility with their state DMV in order to prevent their license from being revoked.
Do you really need roadside assistance? - There are quite a few optional add-on coverages you can purchase but may not be useful. Insurance for vanishing deductibles, better glass coverage, and extra life insurance coverage may be costing you every month. These may sound like a good investment when discussing your needs, but your money might be better spent on other coverage so get rid of them and save.
Lincoln MKX historical loss data - Auto insurance companies analyze claim trends for every vehicle when determining insurance costs. Vehicles that statistically have a trend towards higher claims will have a higher premium rate. The data below shows the compiled insurance loss statistics for Lincoln MKX vehicles.
For each type of coverage, the statistical loss for all vehiclescombined as an average is set at 100. Percentages below 100 indicate a favorable loss history, while numbers above 100 point to more claims or larger claims.
Lincoln MKX Insurance Claim Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKX 4dr 2WD||77||80||67||66||81||78|
|Lincoln MKX 4dr 4WD||86||91||92||76||79||87|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Getting a more affordable price on Lincoln MKX insurance is surprisingly easy. The only thing you need to do is take time to get quotes online from several insurance companies.
The following companies can provide free quotes in Indianapolis, IN. If multiple companies are shown, it's highly recommended you visit as many as you can to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Information does not factor in Indianapolis location which can influence coverage prices greatly.
Difference between full coverage and liability only rates
The chart below illustrates the comparison of Lincoln MKX car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no violations or claims, $1,000 deductibles, single female driver, and no other discounts are factored in.
Should you be buying full coverage?
There is no exact rule of when to stop paying for full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.
For example, let's pretend your Lincoln MKX book value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after you pay the deductible. If it's costing in excess of $600 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where dropping full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Insuring your vehicle just makes sense
Despite the fact that car insurance is not cheap in Indianapolis, car insurance is required in Indiana but it also protects you in many ways.
- Just about all states have minimum mandated liability insurance limits which means you are required to buy specific limits of liability protection in order to license the vehicle. In Indiana 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.
- If your Lincoln has a loan, it's guaranteed your bank will have a requirement that you buy insurance to guarantee loan repayment. If you do not pay your insurance premiums, the bank may insure your Lincoln at a significantly higher premium and force you to pay for it.
- Insurance safeguards not only your car but also your assets. It will also reimburse you for hospital and medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance greatly outweigh the cost, specifically if you ever have a liability claim. The average driver in Indiana is wasting up to $750 every year so shop around once a year at a minimum to help ensure money is not being wasted.
Get cheaper Lincoln MKX insurance rates in Indianapolis
Car insurance can cost a lot, but there could be significant discounts that can dramatically reduce your bill. Certain discounts will be applied at quote time, but a few must be inquired about prior to receiving the credit. If you do not double check each discount available, you could be getting lower rates.
- No Claim Discounts - Indianapolis drivers who stay claim-free get the best insurance rates as opposed to drivers who are more careless.
- Discounts for Government Workers - Simply working for the federal government may reduce rates when you quote Indianapolis auto insurance depending on your company.
- Life Insurance Discount - Select insurance companies reward you with a discount if you purchase some life insurance too.
- Active Military Service - Having a deployed family member could be rewarded with lower prices.
- Accident Waiver - This isn't a discount exactly, but certain companies permit an accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.
- Responsible Drivers - Drivers without accidents can save up to 40% or more on their Indianapolis auto insurance quote as compared to drivers with claims.
Don't be shocked that most discount credits are not given to the entire policy premium. Most only cut the price of certain insurance coverages like comprehensive or collision. Even though the math looks like adding up those discounts means a free policy, you're out of luck. But all discounts will definitely lower the amount you have to pay.
To choose insurers that have a full spectrum of discounts in Indianapolis, click here.
Compare rates but buy from a local Indianapolis insurance agent
Many people prefer to sit down with an agent and that is recommended in a lot of cases Experienced insurance agents can make sure you are properly covered and help submit paperwork. A nice benefit of getting online price quotes is the fact that you can find cheap rate quotes and still have an agent to talk to.
Once you complete this form (opens in new window), your information is submitted to local insurance agents in Indianapolis who will gladly provide quotes for your insurance coverage. You never need to even leave your home since price quotes are sent to you directly. If you wish to compare prices from a specific insurance provider, feel free to jump over to their website and fill out the quote form the provide.
Choosing an insurer shouldn't rely on just the quoted price. Any agent in Indianapolis should be forthright in answering these questions:
- By raising physical damage deductibles, how much would you save?
- Do they get paid more for recommending certain coverages?
- Do the agents have professional certifications like CPCU or CIC?
- Is the agent and/or agency licensed to do business in Indiana?
- Will the agent or a CSR service your policy?
- Do they specialize in personal lines coverage in Indianapolis?
- Is assistance available after office hours?
- Do they see any coverage gaps in your plan?
One last thing about your coverage
Some insurance providers may not offer online price quotes and many times these smaller companies prefer to sell through local independent agencies. Budget-conscious Lincoln MKX insurance can be purchased on the web and from local agencies, and you should compare price quotes from both to get a complete price analysis.
Throughout this article, we presented quite a bit of information on how to get a better price on Lincoln MKX insurance in Indianapolis. The key concept to understand is the more providers you compare, the better chance you'll have of finding inexpensive Indianapolis auto insurance quotes. You may even be surprised to find that the best prices are with the smaller companies.
Consumers who switch companies do it for any number of reasons including high prices, being labeled a high risk driver, poor customer service or even extreme rates for teen drivers. Whatever your reason, choosing a new insurance company is easier than you think.
For more information, feel free to visit the resources below:
- Tread Depth and Tire Safety (State Farm)
- What is the Best Cheap Car Insurance in Jeffersonville, IN? (FAQ)
- Who Has Affordable Indiana Auto Insurance Quotes for Teenage Females? (FAQ)
- How Much are Indiana Car Insurance Quotes for Lyft Drivers? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Seniors in Indiana? (FAQ)
- Who Has Cheap Car Insurance for a Company Car in Indiana? (FAQ)
- Who Has Cheap Indiana Auto Insurance for Drivers Under 25? (FAQ)
- What Car Insurance is Cheapest for High Risk Drivers in Indiana? (FAQ)
- Liability Insurance Coverage (Nationwide)
- Rental Car Insurance Tips (Insurance Information Institute)
- Teen Driving Statistics (iihs.org)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)