Compare Lincoln MKT Insurance Rates in Fort Wayne

Insurance quote for Lincoln MKT in Fort WayneIf you want to save money, the best way to get more affordable Lincoln MKT insurance in Fort Wayne is to regularly compare prices from different companies who provide car insurance in Indiana. Price quotes can be compared by following these steps.

  1. Learn about the different coverages in a policy and the measures you can take to lower rates. Many risk factors that drive up the price like inattentive driving and a less-than-favorable credit rating can be amended by improving your driving habits or financial responsibility.
  2. Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agencies can give you price quotes from multiple sources.
  3. Compare the new rate quotes to your existing policy to see if a cheaper rate is available in Fort Wayne. If you find a lower rate and switch companies, make sure there is no lapse in coverage.
  4. Provide notification to your current agent or company of your intention to cancel your current coverage. Submit a down payment along with a completed application to your new agent or company. Don’t forget to place the new certificate verifying proof of insurance in an easily accessible location.

One key aspect when comparing rates is to try to compare similar deductibles and liability limits on every quote and and to get rates from as many companies as you can. Doing this enables the most accurate price comparison and a thorough price selection.

Amazingly, a recent study showed that most car insurance policyholders kept buying from the same company for at least the last four years, and just short of a majority have never even compared rates from other companies. Most drivers in Indiana can cut their rates by approximately 55% a year just by comparing rates, but they underestimate the actual amount they would save if they switched to a more affordable policy.

Cheaper Fort Wayne insurance quotes with discounts

Insurance can cost an arm and a leg, but you might find some hidden discounts to reduce the price significantly. Many discounts should be triggered at the time you complete a quote, but some discounts are required to be asked for prior to receiving the credit.

It’s important to note that some credits don’t apply to the entire cost. Some only apply to individual premiums such as collision or personal injury protection. Even though the math looks like you could get a free insurance policy, companies don’t profit that way.

The information below visualizes the comparison of Lincoln MKT yearly insurance costs with and without discounts. The premiums assume a female driver, no accidents or driving violations, Indiana state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, marriage, homeowner, and claim-free discounts applied.

A list of companies and a selection of discounts are outlined below.

When getting a coverage quote, ask each insurance company which credits you are entitled to. A few discounts may not apply to policyholders in your area. If you would like to see a list of companies with the best discounts in Indiana, click here.

To get the cheapest Lincoln MKT rate quotes, there a variety of ways to obtain and compare prices from many available auto insurance companies in Indiana. The quickest method to find competitive insurance rates is to get quotes online.

It’s important to know that quoting more will increase your chances of finding a lower rate than you’re paying now.

The car insurance companies shown below can provide quotes in Indiana. To buy cheaper car insurance in Fort Wayne, we suggest you compare several of them to find the most affordable car insurance rates.

Insurance coverage details

The coverage table shown below showcases estimates of insurance coverage prices for Lincoln MKT models. Learning more about how insurance premiums are figured can be valuable when making smart choices when selecting a coverage provider.

Lincoln MKT Insurance Rates in Fort Wayne, IN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $234 $426 $298 $18 $90 $1,066 $89
MKT 3.7 AWD $258 $492 $298 $18 $90 $1,156 $96
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Table data does not factor in zip code location which can influence insurance rates considerably.

Policy deductibles

When shopping for insurance, a common question is where should you set your physical damage deductibles. The following tables determine the cost difference when you select higher and lower comp and collision deductibles. The first pricing table uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Lincoln MKT insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $272 $430 $318 $18 $94 $1,157 $96
MKT 3.7 AWD $300 $496 $318 $18 $94 $1,251 $104
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Lincoln MKT insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $222 $348 $318 $18 $94 $1,000 $83
MKT 3.7 AWD $244 $400 $318 $18 $94 $1,074 $90
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Prices do not factor in the specific area where the vehicle is garaged which can lower or raise premiums considerably.

Based on the figures above, using a $250 deductible costs approximately $13 more each month or $156 every year than quoting the higher $500 deductible. Because you would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you average at least 19 months between claim filings, you would save money if you elect the higher deductible. Here is the way you can do this calculation yourself.

Average monthly premium for $250 deductibles: $100
Average monthly premium for $500 deductibles (subtract): – $87
Monthly savings from raising deductible: $13
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $13
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

An important sidenote is that raising deductibles means you will have to pay more of your own money at claim time. You need to make sure you have some savings in the bank in the event you have to pay the higher deductible.

The illustration below shows how choosing a deductible and can increase or decrease Lincoln MKT premium costs for different categories of driver ages. The data assumes a single female driver, full coverage, and no additional discounts are factored in.

Rate difference between full and liability-only coverage

The example below visualizes the comparison of Lincoln MKT insurance premiums with and without full coverage. The premiums are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no other discounts are factored in.

Should you pay for full coverage?

There is no set rule to stop paying for full coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.

For example, let’s assume your Lincoln MKT book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after paying the physical damage deductible. If premiums are more than $800 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where only buying liability is not recommended. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.

The Lincoln MKT Insurance Price Equation

The best way to find cheaper auto insurance is to take a look at the factors that come into play when calculating your auto insurance rates. If you know what influences your rates, this helps enable you to make changes that could help you find cheaper rates. Many different elements are part of the equation when pricing auto insurance. Most are fairly basic such as your driving record, but other factors are not quite as obvious like your continuous coverage or how financially stable you are.

When should I discuss my situation with an agent?

Keep in mind that when it comes to choosing adequate coverage, there is no best way to insure your cars. Everyone’s situation is unique.

These are some specific questions might help in determining whether or not you will benefit from professional help.

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you want to speak to an agent in your area, simply complete this short form.

Can’t I get rate quotes from local Fort Wayne insurance agencies?

Some people would rather get advice from a local agent and that is OK! The biggest benefit of getting online price quotes is that drivers can save money and get cheap car insurance rates but still work with a licensed agent. Supporting local insurance agents is definitely important in Fort Wayne.

Find insurance agent in Fort WayneUpon completion of this short form, your coverage information is sent to agents in your area that can give you free Fort Wayne car insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to do any legwork since price quotes are sent to you instantly. You’ll get the best rates and an insurance agent to talk to. If you wish to compare prices from a specific company, just find their quoting web page to submit a rate quote request.

If you are wanting to find a reliable insurance agency, you must know there are a couple different types of agents from which to choose. Agencies in Fort Wayne are classified as either independent (non-exclusive) or exclusive.

Independent Agents (or Brokers)

Agents in the independent channel are not employed by any specific company and that enables them to quote your coverage with an assortment of companies and find you cheaper rates. If they find a cheaper price, your agent can just switch to a different company which requires no work on your part. If you need cheaper car insurance rates, you should always get quotes from at least one independent agent to get the best comparison. A lot of them also have access to smaller companies who may have lower rates.

Listed below are Fort Wayne independent agencies who can help you get free car insurance quotes.

More Fort Wayne agents

Exclusive Insurance Agencies

Agents of this type normally can only provide a single company’s rates like Allstate and State Farm. They generally cannot compare other company’s rates so they have to upsell other benefits. They receive extensive training in insurance sales and that allows them to sell at a higher price point. Consumers frequently buy from the same agent for years mainly due to high brand loyalty rather than low price.

Shown below are Fort Wayne exclusive insurance agents willing to provide rate quotes.

More Fort Wayne agents

Selecting an auto insurance agent shouldn’t rely on just the bottom line cost. These are valid questions to ask:

Car insurance does more than just protect your car

Despite the high cost, buying car insurance serves a purpose in several ways.

First, most states have compulsory liability insurance requirements which means you are required to carry specific minimum amounts of liability insurance coverage if you want to drive legally. 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.

Second, if your MKT has a lienholder, most banks will have a requirement that you have physical damage coverage to guarantee their interest in the vehicle. If the policy lapses, the bank may buy a policy for your Lincoln for a much higher rate and force you to pay much more than you were paying before.

Third, car insurance preserves both your car and your personal assets. It will also provide coverage for medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If your Lincoln gets damaged, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of having insurance greatly outweigh the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying more than $865 each year so it’s recommended you shop around at every policy renewal to ensure rates are inline.

Which car insurance company is best in Fort Wayne?

Picking the best car insurance company can be challenging considering how many different insurance companies sell coverage in Indiana. The company rank data in the next section may help you choose which car insurance providers to look at when comparing rate quotes.

Top 10 Fort Wayne Car Insurance Companies Ranked by Customer Service

  1. Nationwide
  2. State Farm
  3. Safeco Insurance
  4. American Family
  5. Titan Insurance
  6. Travelers
  7. Liberty Mutual
  8. GEICO
  9. Erie Insurance
  10. Allstate

Cheaper auto insurance is out there

Cheap Lincoln MKT insurance in Fort Wayne can be found both online as well as from independent agents in Fort Wayne, so you need to quote Fort Wayne car insurance with both to get a complete price analysis. A few companies may not have the ability to get quotes online and most of the time these regional carriers only sell coverage through local independent agencies.

As you prepare to switch companies, do not skimp on coverage in order to save money. In many cases, someone dropped physical damage coverage only to find out they didn’t purchase enough coverage. Your objective should be to find the BEST coverage at an affordable rate, but do not sacrifice coverage to save money.

Drivers who switch companies do it for a variety of reasons including delays in paying claims, policy cancellation, high rates after DUI convictions and even high prices. No matter why you want to switch, switching companies is less work than it seems.

Additional learning opportunities