Save on Lincoln MKS Insurance in Memphis

How long has it been since you sat down and looked for more affordable Lincoln MKS insurance in Memphis? Did a good deal turn into overpriced Lincoln MKS insurance in Memphis? You’re in good company because many Memphis drivers have buyer’s remorse.

It’s shocking but the vast majority of drivers kept their policy with the same company for at least the last four years, and nearly the majority have never compared rates with other companies. Memphis drivers could cut their rates by almost 35% a year by just comparing rate quotes, but they underestimate the amount of money they would save if they switch to a new company. Because you have many online and local companies to choose from, it’s nearly impossible to find the lowest price company.

It’s smart to price shop coverage before your policy renews because insurance prices fluctuate regularly. Even if you think you had the best rates on Lincoln MKS insurance in Memphis six months ago you can probably find a lower rate today. Forget anything you know (or think you know) about car insurance because it’s time to teach you how to quote online to reduce your cost while increasing coverage.

Choosing the best rates in Memphis is actually very simple if you learn how to start. If you have insurance now, you will be able to buy cheaper insurance using these tips. Drivers just have to use the most efficient way to compare prices using one simple form.

Car insurance providers offering low-cost price quotes in Tennessee

The providers in the list below have been selected to offer free rate quotes in Tennessee. To locate cheap car insurance in TN, we suggest you compare several of them to get a more complete price comparison.

Statistics and details

The premium table displayed next outlines estimates of coverage prices for Lincoln MKS models. Being aware of how car insurance prices are calculated can help you make decisions when shopping your coverage around.

Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Premium costs do not factor in zip code location which can influence premium rates substantially.

An analysis of deductible level

A question often asked by Memphis drivers is how high should the physical damage coverage deductibles be. The following tables can help show the difference in cost between high and low physical damage coverage deductibles. The first data set uses a $250 deductible and the second price grid uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate information does not factor in your specific Memphis location which can lower or raise insurance rates substantially.

Based on the above data, using a $250 deductible costs approximately $16 more each month or $192 annually than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 16 months between claim filings, you would probably come out ahead if you elect the higher deductible. Below is how you can decide this on your own policy.

One thing to be aware of is that higher deductibles means you will have to cover more of the damage yourself when you have a claim. You must have a higher level of savings in the event you have to pay the deductible for vehicle repair.

Full coverage rates compared to liability-only

The illustration below shows the comparison of Lincoln MKS yearly insurance costs with and without full coverage. The costs are based on no violations or accidents, $500 deductibles, single status, and no discounts are factored in.

When to buy liability coverage only

There is no definitive formula of when to drop physical damage coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your Lincoln MKS book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying more than $400 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are a few cases where only buying liability is not advised. If you haven’t satisfied your loan, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Get cheaper rates on Lincoln MKS insurance in Memphis with these auto insurance discounts

Some insurance providers do not advertise all their discounts very clearly, so the below list has a few of the more common as well as the least known credits available to bring down your rates. If you do not check that you are getting every discount possible, it’s possible you qualify for a lower rate.

• Active Military Service – Having an actively deployed family member could trigger a small discount.
• Discount for Multiple Policies – When you have multiple policies with the same insurance company you will save up to 20% off your total MKS insurance premium.
• Discount for Passive Restraints – Vehicles equipped with air bags may get savings of up to 25% or more.
• Driver Safety – Taking time to complete a course in defensive driving is a good idea and can lower rates and easily pay for the cost of the class.
• Save over 55 – Drivers that qualify as senior citizens are able to get a discount up to 10%.
• Pay Early and Save – If you can afford to pay the entire bill instead of making monthly payments you can avoid monthly service charges.
• Discounts for Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease with some auto insurance companies.
• Life Insurance Discount – Select insurance carriers reward you with a lower premium rate if you buy auto and life insurance together.
• Student Discounts – Being a good student can get you a discount of up to 25%. Earning this discount can benefit you well after school through age 25.
• Renewal Discounts – Some insurance companies provide a discount for switching to them before your current expiration date. You can save around 10% with this discount.

Discounts save money, but please remember that some credits don’t apply to your bottom line cost. Some only apply to the cost of specific coverages such as liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, nobody gets a free ride.

The example below illustrates the difference between Lincoln MKS yearly insurance costs with and without discounts applied to the rates. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, Tennessee state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, claim-free, multi-car, multi-policy, and marriage discounts applied.

Some companies that may offer these benefits include:

• State Farm
• GEICO
• Progressive
• 21st Century
• American Family
• The Hartford
• AAA

Double check with each company or agent to give you their best rates. All car insurance discounts may not apply in Memphis. To choose auto insurance companies offering auto insurance discounts in Tennessee, click this link.

Learn How to Lower Your Insurance Rates

Lots of things are part of the equation when pricing auto insurance. Some factors are common sense like a motor vehicle report, although others are less apparent like your continuous coverage or your commute time.

• More than one policy can earn a discount – Most major insurers give a discount to customers who consolidate policies with them in the form of a multi-policy discount. Even if you already get this discount, drivers will still want to shop around to help guarantee you have the best rates.
• Allowing your policy to lapse raises car insurance rates – Having a lapse in insurance coverage will be a sure-fire way to pay more for car insurance. And not only will your rates increase, getting caught without coverage may earn you a steep fine or even jail time. You may need to file a SR-22 with the Tennessee motor vehicle department.
• Stay claim-free and lower rates – If you file claims often, you can look forward to higher premiums or even policy non-renewal. Companies in Tennessee generally give cheaper rates to insureds who only file infrequent claims. Insurance coverage is meant to be used in the event of more catastrophic claims.
• Save by driving vehicles with better crash test results – Safer cars tend to have better insurance rates. Safer cars reduce occupant injuries and fewer serious injuries means your insurance company pays less and lower rates for you. If the Lincoln MKS scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
• Additional coverages that may be costing you – Policies have extra add-on coverages that can waste your money if you aren’t careful. Insurance for things like roadside assistance, accidental death, and extra life insurance coverage are some examples. The coverages may be enticing when talking to your agent, but if you’ve never needed them in the past remove them from your policy.

• Lower performance equals lower insurance costs – The performance of the vehicle you need to insure makes a substantial difference in your auto insurance rates. Low performance passenger models generally receive the lowest base rates, but your final cost has many other factors.

  The next chart is based on a married female driver age 40, full coverage with $100 deductibles, and no discounts or violations. The chart compares Lincoln MKS insurance premiums compared to other makes and models that have different performance risks.

• The more you drive the more you pay – The more you drive your Lincoln each year the more you’ll pay to insure it. Most insurance companies apply a rate based on their usage. Autos that do not get driven very much can get a lower rate than vehicles that are driven to work every day. Incorrect rating for your MKS is just wasting money. Verify your car insurance policy is rated on the right rating data.

• Guys pay more for car insurance – Over the last 30 years, statistics show that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Males and females tend to get into at-fault accidents in similar numbers, but the males tend to have higher claims. Men also statistically have more aggressive citations such as DWI and reckless driving.

  The information below compares Lincoln MKS car insurance costs for male and female drivers. The premiums are based on no claims or violations, full coverage, $250 deductibles, single status, and no additional discounts are factored in.

• Lincoln MKS historical loss data – Companies factor in historical loss data to calculate a price that will offset any claims. Models that are shown to have a trend towards higher claims will have higher premium rates. The table shown below demonstrates the compiled insurance loss statistics for Lincoln MKS vehicles.

  For each coverage type, the loss probability for all vehicles, as an average, is set at 100. Percentage values below 100 suggest losses that are better than average, while numbers above 100 show a trend for more claims or a tendency for losses to be larger than average.

  
  

  Insurance Loss Ratings for Lincoln MKS Vehicles

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Lincoln MKS 4dr 2WD	121	90	140	78	103
  Lincoln MKS 4dr 4WD	135	89	204	89
  Lincoln MKS Ecoboost 4dr 4WD	139	93	153	87

  BETTER

  AVERAGE

  WORSE

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

Do I need an insurance agency?

A small number of people just prefer to have an agent’s advice and that is a personal choice. Experienced insurance agents can answer important questions and will help you if you have claims. A nice benefit of getting free rate quotes online is the fact that drivers can get lower prices but still work with a licensed agent.

To help locate an agent, after submitting this simple form, your insurance data is immediately sent to insurance agents in Memphis who will give competitive quotes for your insurance coverage. You don’t have to leave your computer as quotes are delivered directly to you. If for some reason you want to compare rates for a specific company, you would need to find their quoting web page to submit a rate quote request.

Picking the best company shouldn’t rely on just a cheap price. Any good agent in Memphis should know the answers to these questions.

• How much experience to they have in personal lines coverages?
• If you are a high risk driver, do they have special markets for your coverage?
• Does the agency have a good rating with the Better Business Bureau?
• Do the coverages you’re quoting properly cover your vehicle?
• Do the agents have professional certifications like CPCU or CIC?
• Is vehicle damage repaired with OEM or aftermarket parts?
• Is the agency active in community causes in Memphis?
• Do they offer accident forgiveness?

If you want a good insurance agency, there are two different types of agencies and how they differ in how they can insure your vehicles. Insurance policy providers are considered either exclusive agents or independent agents. Both types of agents can handle insurance, but it’s important to know the difference in the companies they write for since it could factor into the kind of agent you use.

Exclusive Agencies

These type of agents can only place business with one company such as Farmers Insurance, State Farm, or Allstate. These agents are not able to provide prices from multiple companies so you might not find the best rates. Exclusive agents are trained well on sales techniques which can be an advantage.

Below are Memphis exclusive insurance agencies who can help you get price quotes.

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Independent Insurance Agencies

These agents often have many company appointments so they can write business amongst many companies and get you the best rates possible. If they find a cheaper price, they simply switch companies in-house without you having to go to a different agency. If you need cheaper insurance rates, you need to get insurance quotes from at a minimum one independent agency to maximize your price options.

Below is a list of independent agents in Memphis willing to provide rate quotes.

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If you get acceptable answers to your questions and the cheapest Lincoln MKS insurance in Memphis quotes, it’s a good possibility that you have found an insurance agency that can be relied on to service your policy.

Best car insurance in Memphis

Finding the best car insurance company can be challenging considering how many companies are available to choose from in Memphis. The company rank data in the lists below could help you decide which car insurance companies to look at shopping prices with.

Top 10 Memphis Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Erie Insurance – A+
6. Titan Insurance – A+
7. Esurance – A+
8. Progressive – A+
9. Nationwide – A+
10. The Hartford – A+

More quotes mean more car insurance savings

As you go through the steps to switch your coverage, it’s a bad idea to buy poor coverage just to save money. In many instances, someone dropped liability limits or collision coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy enough coverage for the lowest price, but do not sacrifice coverage to save money.

Lower-priced Lincoln MKS insurance in Memphis can be bought on the web and with local Memphis insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers do not offer online price quotes and these smaller providers only sell coverage through independent agents.

How to buy lower priced Lincoln MKS insurance in Memphis

If saving the most money is your goal, then the best way to get affordable Lincoln MKS insurance in Memphis is to make a habit of regularly comparing prices from different companies in Tennessee. You can compare rates by following these guidelines.

Step 1: Get a basic knowledge of auto insurance and the factors you can control to drop your rates. Many rating factors that drive up the price such as careless driving and poor credit can be amended by making minor changes to your lifestyle.

Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like Progressive and State Farm, while independent agents can provide rate quotes for a wide range of insurance providers. View companies

Step 3: Compare the new rate quotes to the premium of your current policy to see if you can save by switching companies. If you find better rates and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

Step 4: Tell your current company of your intent to cancel your current coverage. Submit any necessary down payment along with the completed application to your new insurance company. Be sure to store the certificate verifying coverage in your glove compartment.

A crucial key to this process is to make sure you’re comparing the same coverage limits and deductibles on each quote and and to get price quotes from as many auto insurance providers as possible. This enables an apples-to-apples comparison and maximum price selection.

To read more, take a look at the resources below:

• Choosing a Car for Your Teen (State Farm)
• Who Has Cheap Memphis Auto Insurance Quotes for 18 Year Olds? (FAQ)
• Who Has Cheap Auto Insurance Rates for Real Estate Agents in Memphis? (FAQ)
• What Auto Insurance is Cheapest for Low Credit Scores in Memphis? (FAQ)
• Teen Driver Licensing Information (iihs.org)
• State Car Insurance Guides (GEICO)
• Rental Reimbursement Coverage (Allstate)
• How do I File a Claim? (Insurance Information Institute)