It’s well known that insurance companies want to keep you from comparing prices. Insureds who shop around annually are very likely to switch companies because there is a good probability of finding a lower-cost company. Surprisingly, a recent survey revealed that consumers who compared rate quotes regularly saved on average $865 annually compared to policyholders who didn’t regularly shop around.
If finding the most affordable Lincoln MKX insurance is your target objective, then having a grasp of how to shop for car insurance can save money and time.
To save the most money, the best way to get affordable car insurance rates is to start comparing rates regularly from companies in Miami. You can compare prices by following these steps.
- Step 1: Spend a few minutes and learn about car insurance and the measures you can take to prevent expensive coverage. Many risk factors that drive up the price such as at-fault accidents and an unfavorable credit rating can be amended by making minor changes in your lifestyle.
- Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agents can provide rate quotes from multiple companies.
- Step 3: Compare the new rate quotes to your current policy and determine if cheaper MKX coverage is available. If you find a better price and switch companies, verify that coverage does not lapse between policies.
The key thing to know about shopping around is to try to compare identical deductibles and limits on each quote and and to get rates from as many auto insurance providers as possible. Doing this provides an accurate price comparison and the best rate selection.
How to compare free Miami Lincoln MKX insurance quotes
To find affordable Miami car insurance quotes, there are several ways of comparing rate quotes from different Miami insurance companies. The easiest way by far to comparison shop consists of shopping online.
It’s so simple to compare auto insurance rates online replaces the need to actually drive to insurance agents’ offices. The fact that you can get quotes online has reduced the need for local agents unless you require the peace of mind of a local agency. Although, it is possible obtain prices from the web and have a local agent actually service the policy.
When price shopping your coverage, getting more free quotes will improve the odds of getting more affordable rates. Not every company does online price quotes, so it’s important to compare prices from them as well.
The following companies are our best choices to provide quotes in Florida. If you want the best cheap car insurance in FL, we recommend you click on several of them to find the most competitive auto insurance rates.
Cheaper Miami insurance rates with discounts
Insurance can be pricey, but you may find discounts to help offset the cost. Some trigger automatically when you complete an application, but a few need to be specially asked for before being credited.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to wear their seat belts can save 10% or more off PIP or medical payments premium.
- Telematics Data Discounts – Drivers that enable their insurance company to spy on driving patterns by using a telematics device like Allstate’s Drivewise could possibly reduce rates if they have good driving habits.
- Passive Restraints and Air Bags – Factory options such as air bags or motorized seat belts can get savings of 20 to 30 percent.
- Early Signing – Some companies give discounts for switching companies before your current expiration date. The savings is around 10%.
- Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates than less cautious drivers.
- New Vehicle Savings – Putting insurance on a new MKX can be considerably cheaper due to better safety requirements for new model year vehicles.
- Paper-free Discount – A handful of companies will discount your bill up to fifty bucks get Miami car insurance on the internet.
- Braking Control Discount – Cars, trucks, and SUVs with ABS braking systems or traction control can avoid accidents and therefore earn up to a 10% discount.
- Home Ownership Discount – Being a homeowner can help you save on insurance due to the fact that maintaining a home is proof of financial responsibility.
- Employee of Federal Government – Federal government employees could provide a small rate reduction depending on your insurance provider.
It’s important to note that some credits don’t apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like it’s possible to get free car insurance, companies wouldn’t make money that way. But all discounts will help lower the cost of your policy.
The information below visualizes the comparison of Lincoln MKX auto insurance rates with and without discounts applied to the premium. The information is based on a female driver, a clean driving record, no at-fault accidents, Florida 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 homeowner, safe-driver, multi-policy, marriage, claim-free, and multi-car discounts applied.
Large insurance companies and some of the premium reductions they offer are included below.
- GEICO offers discounts including air bags, anti-theft, five-year accident-free, military active duty, multi-policy, defensive driver, and membership and employees.
- MetLife offers discounts for defensive driver, good student, accident-free, multi-policy, and good driver.
- State Farm may offer discounts for Steer Clear safe driver discount, anti-theft, multiple policy, driver’s education, defensive driving training, and safe vehicle.
- Progressive policyholders can earn discounts including multi-vehicle, online signing, multi-policy, homeowner, continuous coverage, online quote discount, and good student.
- Mercury Insurance includes discounts for accident-free, anti-theft, low natural disaster claims, annual mileage, multi-policy, ease of repair, and type of vehicle.
- 21st Century has savings for homeowners, automatic seat belts, student driver, theft prevention, early bird, anti-lock brakes, and driver training.
- Allstate may include discounts for safe driver, multi-policy, senior citizen, auto/life discount, good student, 55 and retired, and defensive driver.
Check with all the companies the best way to save money. Discounts may not apply to policyholders everywhere.
Detailed insurance information
The premium table displayed next highlights different prices for Lincoln MKX models. Being able to understand how auto insurance prices are determined can assist in making decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Premium costs do not factor in your specific Miami location which can revise rates considerably.
The illustration below demonstrates how choosing different deductibles and can raise or lower Lincoln MKX insurance prices for each age group. The premiums assume a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Rate comparison of full coverage and liability-only
The chart below shows the difference between Lincoln MKX yearly insurance costs with liability coverage only compared to full coverage. The data is based on a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are taken into consideration.
Are you wasting money on full coverage?
There is no specific rule for eliminating comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Lincoln MKX replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $7,000 after paying the physical damage deductible. If it’s costing in excess of $700 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some circumstances where dropping physical damage coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Compare rates but still have a neighborhood Miami auto insurance agent
A small number of people prefer to buy from a licensed agent and that is OK! The best thing about getting free rate quotes online is you can get better rates but still work with a licensed agent.
After completing this quick form, the quote information is instantly submitted to local insurance agents who will give you bids for your auto insurance coverage. It makes it easy because there is no need to leave your house because prices are sent to you directly. You can most likely find cheaper rates without a big time investment. If you want to get a price quote from a specific company, just navigate to their website and give them your coverage information.
Selecting an insurance company requires you to look at more than just a cheap price quote. Below are some questions you should ask.
- Will they make sure you get an adequate claim settlement?
- Does the agent have a valid license to sell insurance in Florida?
- Is the coverage adequate for your vehicle?
- Are you getting all the discounts the company offers?
- How many years have they been established?
- Do they specialize in personal lines coverage in Miami?
- Are all drivers listed on the coverage quote?
- What are their preferred companies if they are an independent agency?
If you want to buy auto insurance from a local agent, there are a couple of different types of agencies that differ in how they can insure your vehicles. Insurance agencies in Miami may be either independent agents or exclusive agents.
Exclusive Insurance Agents
Exclusive insurance agents can only write with one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agencies are unable to compare rates from other companies so keep that in mind. Exclusive agencies receive a lot of sales training on what they offer which helps overcome the inability to quote other rates.
Listed below is a list of exclusive insurance agents in Miami who can help you get price quote information.
Independent Insurance Agents
Agents that elect to be independent often have many company appointments so they can write business through many companies depending on which coverage is best. If they find a cheaper price, they simply move the coverage in-house which is easy for the insured. When comparing auto insurance rates, you should always contact several independent agencies to get the most accurate price comparison.
Listed below are Miami independent insurance agents that can give you price quote information.
Lincoln MKX Insurance Premium Factors
One of the most helpful ways to save on car insurance is to to have a grasp of some of the factors that aid in calculating the rates you pay for car insurance. If you have some idea of what determines premiums, this enables you to make decisions that may reward you with better car insurance rates. Many factors are part of the equation when pricing auto insurance. Some of the criteria are obvious like an MVR report, but other factors are more obscure such as your credit history or your financial responsibility.
The itemized list below are a partial list of the pieces companies use to determine your premiums.
Never have coverage lapses – Driving any period of time without insurance is illegal and as a result your rates will increase for letting your coverage have a gap. Not only will rates go up, failure to provide proof of insurance will get you a revoked license or a big fine. You will then be forced to prove you have insurance by filing a SR-22 with the Florida DMV.
Bad drivers pay high costs – Having a clean driving record can have a huge impact on auto insurance premiums. Drivers who don’t get tickets pay lower auto insurance prices than their less careful counterparts. Only having one speeding ticket or other violation can increase rates twenty percent or more. Drivers unfortunate enough to have multiple violations like DUI, reckless driving or excessive speeding may need to submit a SR-22 or proof of financial responsibility with their state in order to drive a vehicle legally.
The illustration below shows how violations and accidents drive up Lincoln MKX auto insurance rates for different categories of driver ages. The prices are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
Increase physical damage deductibles and save – Physical damage protection, termed comprehensive and collision coverage on your policy, helps pay for damage to your vehicle. Some examples of claims that would be covered are a broken side mirror, hail damage, and having your car stolen. The deductibles are how much you are willing to pay out-of-pocket before your car insurance pays a claim. The more expense you have to pay, the less your company will charge you for insurance.
Deter car thieves – Purchasing a vehicle that has a built-in theft deterrent system can save you some money. Theft deterrent systems like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart your car from being stolen.
Performance makes a difference – The make and model of the car you need to insure makes a huge difference in the rate you pay. Lower performance four cylinder passenger models normally have pretty low rates, but the cost you end up paying is determined by many additional factors.
The chart below uses these assumptions: single female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Lincoln MKX insurance premiums compared to other makes and models that have a range of performance risks.
Lincoln MKX insurance loss probability – Insurers analyze historical claim data to help determine the price you pay. Vehicles that the data determines to have increased claim numbers or amounts will cost more for coverage. The table below demonstrates the insurance loss data used by companies for Lincoln MKX vehicles.
For each policy coverage, the statistical loss for all vehicles, regardless of make or model, equals 100. Percentages below 100 suggest losses that are better than average, while values over 100 indicate frequent claims or an increased likelihood of larger losses.
|Vehicle 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|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need to buy insurance
Even though it’s not necessarily cheap to insure a Lincoln in Miami, maintaining insurance is not optional due to several reasons.
First, almost all states have minimum liability requirements which means the state requires a minimum amount of liability insurance if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if your vehicle has a lienholder, it’s guaranteed your bank will make it a condition of the loan that you buy full coverage to guarantee loan repayment. If you do not keep the policy in force, the bank or lender will purchase a policy for your Lincoln for a much higher rate and force you to pay the higher price.
Third, insurance safeguards both your Lincoln and your personal assets. Insurance will pay for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay attorney fees if you are sued as the result of an accident. If your car is damaged in a storm or accident, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of insuring your car greatly outweigh the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying over $830 a year so shop around each time the policy renews to ensure rates are competitive.
Find cheap rates by comparing often
We just covered some good ideas how you can compare Lincoln MKX insurance rates in Miami. The most important thing to understand is the more you quote Miami car insurance, the better your comparison will be. Consumers could even find that the best rates are with some of the smallest insurance companies. These companies may often insure only within specific states and give better rates compared to the large companies like Allstate and Progressive.
A few companies do not offer online price quotes and most of the time these regional carriers work with local independent agencies. Lower-priced Lincoln MKX insurance in Miami can be bought on the web and from local insurance agents, and you should compare rates from both so you have a total pricing picture.
When trying to cut insurance costs, you should never reduce coverage to reduce premium. There are a lot of situations where consumers will sacrifice comprehensive coverage or liability limits only to regret at claim time they didn’t have enough coverage. Your goal is to purchase plenty of coverage at an affordable rate while still protecting your assets.
Even more information is available by following these links:
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- What Auto Insurance is Cheapest for Safe Drivers in Miami? (FAQ)
- What Car Insurance is Cheapest for First-time Drivers in Miami? (FAQ)
- Who Has the Cheapest Miami Car Insurance Quotes for a Learners Permit? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- Airbag FAQ (iihs.org)
- Smart Auto Insurance Tips (Insurance Information Institute)