The most effective way to get budget Lincoln MKZ insurance is to compare prices annually from insurance carriers in Charlotte.
- Read and learn about how your policy works and the measures you can take to lower rates. Many rating criteria that result in higher rates such as traffic citations and an unacceptable credit score can be remedied by paying attention to minor details. Continue reading for tips to help keep prices low and find overlooked discounts.
- Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while agents who are independent can give you price quotes from multiple companies. Get quotes now
- Compare the new rates to your existing rates to see if you can save by switching companies. If you find a lower rate, make sure there is no lapse in coverage.
- Tell your current agent or company of your intention to cancel your current policy and submit the signed application along with the required initial payment for your new policy. Immediately place your new certificate verifying proof of insurance along with your vehicle registration.
The key thing to remember is to make sure you’re comparing the same level of coverage on every quote and and to get quotes from as many car insurance companies as possible. Doing this ensures an accurate price comparison and the best rate selection.
Shockingly, nearly 70% of customers renewed their policy with the same company for at least the last four years, and just short of a majority have never taken the time to shop around. The average driver in the U.S. could save up to 47% every year by just shopping around, but they don’t believe how much they could save if they replace their high priced policy.
Finding affordable car insurance coverage in Charlotte can really be easy if you know what you’re doing. In a nutshell, everyone who buys car insurance most likely will find a lower-cost policy. But North Carolina car owners must understand how insurance companies calculate your car insurance rates and use this information to your advantage.
How to Lower Your Insurance Costs
Many factors are taken into consideration when you quote your car insurance policy. Some are obvious such as your driving record, but other criteria are more obscure such as whether you are married or your commute time.
Does car insurance cost more for males? – Over the last 50 years, statistics have shown that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. They both are in at-fault accidents at a similar rate, but guys have costlier accidents. Men also get higher numbers of serious violations like reckless driving and DUI.
The information below shows the difference between Lincoln MKZ insurance premiums for male and female drivers. The prices are based on no accidents or driving violations, full coverage, $250 deductibles, drivers are single, and no discounts are taken into consideration.
How much liability – A critical coverage on your policy, liability insurance will protect you when you are responsible for causing damage or personal injury in an accident. Your liability coverage provides legal defense coverage starting from day one. This coverage is relatively inexpensive compared to physical damage coverage, so insureds should have plenty of protection for their assets.
Your spouse saves you money – Having a significant other actually saves money on insurance. Marriage is viewed as being more mature and statistics prove married drivers tend to have fewer serious accidents.
Always have insurance – Driving any period of time without insurance is against the law and any future policy may cost more because you let your insurance expire. And not only will insurance be more expensive, the inability to provide proof of insurance could earn you a license revocation or jail time.
Lincoln MKZ historical loss data – Auto insurance companies take into consideration historical loss data for every vehicle to help determine rates. Vehicles that have higher frequency or amount of claims will have a higher cost to insure. The information below illustrates the loss history for Lincoln MKZ vehicles.
For each policy coverage type, the claim amount for all vehicles averaged together is a value of 100. Values that are under 100 suggest a positive loss record, while values that are 100 or greater indicate higher probability of having a loss or statistically larger losses.
|Vehicle 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Lincoln MKZ insurance charts and tables
The information shown next showcases detailed analysis of insurance coverage prices for Lincoln MKZ models. Having insight into how insurance premiums are determined is important to be able to make smart policy decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKZ 4-Dr Sedan||$172||$348||$286||$16||$86||$908||$76|
|MKZ AWD 4-Dr Sedan||$172||$348||$286||$16||$86||$908||$76|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Price estimates do not factor in specific location information which can alter auto insurance rates significantly.
The diagram below demonstrates how deductible levels and can raise or lower Lincoln MKZ insurance costs for each different age category. The information is based on a single female driver, full coverage, and no additional discounts are factored in.
Cost of full coverage
The diagram below shows the difference between Lincoln MKZ premium costs with and without physical damage coverage. The premiums assume no claims or violations, $1,000 deductibles, single marital status, and no additional discounts are factored in.
Guidelines for eliminating full coverage
There isn’t a written rule for phasing out comp and collision coverage, but there is a general school of thought. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s pretend your Lincoln MKZ replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $2,000 after the policy deductible has been paid. If you are paying in excess of $200 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Insurance policy discounts you can’t miss
Some companies don’t always publicize every discount they offer in a way that’s easy to find, so we took the time to find both well-publicized in addition to some of the lesser obvious savings tricks you should be using when you buy Charlotte car insurance online.
- Government Employee Discount – Having worked for a branch of the government may qualify for a discount when you quote Charlotte car insurance depending on your insurance provider.
- Military Deployment Discount – Having a deployed family member could mean lower prices.
- Homeowners Savings – Being a homeowner may trigger a policy discount on insurance because of the fact that having a home demonstrates responsibility.
- Discounts for New Vehicles – Buying a new car model can get you a discount since newer models are generally safer.
- Onboard Data Collection – Policyholders that allow their company to monitor vehicle usage by using a small device installed in their vehicle such as Snapshot from Progressive or Drivewise from Allstate may get a rate reduction if they exhibit good driving behavior.
- Memberships – Affiliation with qualifying employment or professional organizations could earn you a nice discount on your next insurance statement.
You should keep in mind that some credits don’t apply to the entire cost. Most only reduce specific coverage prices like collision or personal injury protection. Even though the math looks like all the discounts add up to a free policy, it’s just not the way it works. Any qualifying discounts will reduce your insurance premiums.
The chart below illustrates the difference between Lincoln MKZ insurance premiums with and without discounts. The information is based on a female driver, no claims or driving citations, North Carolina state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, multi-car, homeowner, safe-driver, and claim-free discounts applied.
A few companies that may include most of these discounts include:
Check with every insurance company which discounts you qualify for. All car insurance discounts may not be offered in your state. To view insurance companies that have a full spectrum of discounts in North Carolina, click here to view.
Compare. Compare. Compare.
Insureds switch companies for a variety of reasons including policy cancellation, being labeled a high risk driver, high rates after DUI convictions and not issuing a premium refund. Whatever your reason, finding the right car insurance provider is pretty simple and you could end up saving a buck or two.
As you shop your coverage around, you should never buy poor coverage just to save money. In many cases, someone sacrificed physical damage coverage only to discover later they didn’t have enough coverage. Your strategy should be to buy a smart amount of coverage for the lowest cost while still protecting your assets.
Lower-priced car insurance in Charlotte is available online in addition to many Charlotte insurance agents, so you need to quote Charlotte car insurance with both to have the best selection. Some insurance providers do not offer the ability to get quotes online and most of the time these small insurance companies only sell through independent agents.
Additional detailed information is located by following these links:
- All About Airbag Safety (State Farm)
- Who Has Affordable Auto Insurance Quotes for Lyft Drivers in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance for 19 Year Olds in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Jeep Grand Cherokee in Charlotte? (FAQ)
- Safe Vehicles for Teens (iihs.org)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Your Car has been Stolen: Now What? (Allstate)