Car Insurance Rate Quotes for a Lincoln MKT in Columbus

Insurance for Lincoln MKTThe recommended way to get the cheapest Lincoln MKT insurance in Columbus is to start comparing prices yearly from companies who provide car insurance in Ohio.

A good tip to remember is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to look at as many car insurance companies as possible. Doing this provides a fair price comparison and the most accurate and complete price analysis.

It goes without saying that car insurance companies don’t want you quoting rates from other companies. Insureds who shop around at least once a year will probably switch to a new company because they have a good chance of finding a more affordable policy. Surprisingly, a recent survey revealed that people who did price comparisons regularly saved on average $72 a month compared to those who never shopped around for cheaper prices.

If finding budget-friendly rates on Lincoln MKT insurance is the reason you’re reading this, then having some knowledge of the best ways to find and compare coverage rates can help simplify the process.

Smart Choices Result in Lower Insurance Costs

Multiple criteria are used when quoting car insurance. Some factors are common sense like your driving record, although others are more obscure such as your marital status or how financially stable you are.

Lincoln MKT coverage analysis

The coverage information shown below outlines different insurance policy prices for Lincoln MKT models. Learning a little about how rates are figured is important for making informed purchases.

Lincoln MKT Insurance Rates in Columbus, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $180 $280 $256 $16 $76 $808 $67
MKT 3.7 AWD $198 $324 $256 $16 $76 $870 $73
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rates do not factor in zip code location which can change insurance rates noticeably.

How high should deductibles be?

One common question asked by Columbus drivers is which comprehensive and collision deductibles to buy. The rates shown below outline the differences in price of buying low and high insurance deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Lincoln MKT insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $220 $348 $256 $16 $76 $941 $78
MKT 3.7 AWD $244 $400 $256 $16 $76 $1,017 $85
Get Your Own Custom Quote Go

Lincoln MKT insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $180 $280 $256 $16 $76 $808 $67
MKT 3.7 AWD $198 $324 $256 $16 $76 $870 $73
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rates do not factor in vehicle location which can lower or raise prices considerably.

We can estimate from the data above that using a $250 deductible costs approximately $12 more each month or $144 for a full year than selecting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average at a minimum 21 months between claim filings, you would more than likely save some money if you opt for a higher deductible.

The example below demonstrates how choosing different deductibles and can influence Lincoln MKT annual premium costs for each different age category. The price estimates are based on a single male driver, comp and collision included, and no other discounts are factored in.

Lincoln MKT liability rates compared to full coverage

The chart below illustrates the comparison of Lincoln MKT insurance premiums when comparing full coverage to state minimum liability only. The costs are based on no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

When to stop paying for full coverage

There is no clear-cut rule that is best for determining when to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you might want to think about dropping 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 totaled in an accident, the most you would get paid by your company is $7,000 after paying your policy deductible. If premium cost is more than $700 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.

There are some scenarios where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

You may qualify for discounts for Lincoln MKT insurance in Columbus

Companies that sell car insurance don’t always publicize every discount in an easy-to-find place, so the list below details a few of the more common and also the lesser-known discounts that you can inquire about if you buy Columbus car insurance online. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.Save money with discounts

It’s important to understand that most discounts do not apply to the overall cost of the policy. Most only cut individual premiums such as comp or med pay. Just because it seems like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

The diagram below compares Lincoln MKT car insurance rates with and without discounts. The rate quotes are based on a male driver, no accidents, no driving violations, Ohio state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, marriage, multi-car, multi-policy, and homeowner discounts applied.

A few popular companies and the discounts they provide are shown below.

Before you buy a policy, ask all companies you are considering which discounts you qualify for. Discounts may not apply to policies in Columbus. If you would like to see a list of providers with significant discounts in Columbus, follow this link.

Cheaper auto insurance is out there

As you quote Columbus car insurance, don’t be tempted to skimp on coverage in order to save money. There are many occasions where an insured dropped collision coverage only to regret that the small savings ended up costing them much more. The ultimate goal is to get the best coverage possible at the lowest possible cost while still protecting your assets.

You just learned quite a bit of information on how to get a better price on Lincoln MKT insurance in Columbus. The key thing to remember is the more you quote Columbus car insurance, the better likelihood of getting cheaper Columbus car insurance quotes. You may even discover the best premium rates are with a smaller regional carrier. These companies often have lower prices on specific markets than their larger competitors like Allstate and Progressive.

Some insurance companies do not provide rate quotes online and usually these small, regional companies prefer to sell through independent agents. Cost effective Lincoln MKT insurance is attainable from both online companies in addition to many Columbus insurance agents, so you need to compare both to have the best selection.

Additional information can be read at the links below