Lincoln MKS Insurance Quotes in Miami

Insurance rates Lincoln MKS in MiamiIf you want to save the most money, the best way to find better pricing on Lincoln MKS insurance in Miami is to do a yearly price comparison from different companies in Florida.

First, learn about how car insurance works and the measures you can control to prevent high rates. Many factors that cause high rates like tickets, at-fault accidents, and a less-than-favorable credit history can be controlled by making minor changes to your lifestyle.

Second, get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like GEICO or State Farm, while independent agencies can provide prices from multiple insurance companies.

Third, compare the new rates to your current policy premium and see if there is a cheaper rate. If you can save money and change companies, make sure there is no coverage gap between policies.

Fourth, give proper notification to your current agent or company of your intent to cancel your current car insurance policy. Submit payment and a signed application to your new carrier. Immediately upon receiving it, put the certificate verifying coverage somewhere easily accessible.

An important part of this process is that you’ll want to make sure you compare the same level of coverage on each quote request and and to compare as many companies as you can. Doing this enables a level playing field and a complete price analysis.

Unbelievable but true according to a study 70% of consumers kept their coverage with the same car insurance company for over three years, and virtually 40% of consumers have never compared rates to find affordable insurance. Consumers in Florida could save as much as $1,126 each year just by shopping around, but they feel it’s too difficult to save money by comparing rate quotes.

If you are already insured, you will be able to find the best rates using this strategy. Choosing the best rates in Miami is actually not that difficult if you follow our advice. Although Florida vehicle owners should learn how companies compete online and use this information to your advantage.

When looking for affordable Miami car insurance quotes, there are a couple ways to compare quotes from many insurance companies in Florida. The easiest way by far to do a complete rate comparison is simply to get online rate quotes.

Getting price quotes online is very simple and it makes it a waste of time to drive to different Miami agent offices. The internet eliminates the middleman unless you require the personal advice of a local Miami agent. You can, however, get prices online but have your policy serviced through an agent.

Just keep in mind that quoting more helps increase your odds of locating a lower rate than you’re paying now. Some regional insurers cannot provide online price quotes, so you also need to get price quotes from them as well.

The providers in the list below provide comparison quotes in Miami, FL. To buy cheap auto insurance in Miami, we suggest you compare several of them to find the most affordable car insurance rates.

Lincoln MKS insurance charts and tables

The price information shown next showcases different rate quotes for Lincoln MKS models. Being more informed about how prices are established can benefit drivers when making decisions on the best policy coverages.

Lincoln MKS Insurance Rates in Miami, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $438 $862 $362 $22 $108 $1,792 $149
MKS 4-Dr Sedan $438 $862 $362 $22 $108 $1,792 $149
MKS Ecoboost AWD 4-Dr Sedan $482 $974 $362 $22 $108 $1,948 $162
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in the specific area where the vehicle is garaged which can decrease or increase coverage prices substantially.

Rate comparison for different deductibles

A question often asked by Miami drivers is which deductible level should you buy. The rates shown below outline the costs and benefits of buying low and high deductibles. The first pricing table uses a $250 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Lincoln MKS insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $406 $736 $354 $20 $106 $1,647 $137
MKS 4-Dr Sedan $406 $736 $354 $20 $106 $1,647 $137
MKS Ecoboost AWD 4-Dr Sedan $446 $834 $354 $20 $106 $1,785 $149
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Lincoln MKS insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $330 $594 $354 $20 $106 $1,404 $117
MKS 4-Dr Sedan $330 $594 $354 $20 $106 $1,404 $117
MKS Ecoboost AWD 4-Dr Sedan $364 $672 $354 $20 $106 $1,516 $126
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Information does not factor in specific location which can lower or raise insurance rates considerably.

Based on these figures, using a $250 deductible will cost you about $21 more each month or $252 annually than selecting the higher $500 deductible. Since you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 12 months between claims, you would probably be better off by going with a higher deductible. The illustration below shows the way you can do this calculation yourself.

Average monthly premium for $250 deductibles: $141
Average monthly premium for $500 deductibles (subtract): – $120
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

An important thing to remember is that raising deductibles to get cheaper rates results in more money out-of-pocket when you have a comprehensive or collision claim. That will necessitate enough money in the bank in the event you have to pay the deductible for vehicle repair.

The information below illustrates how choosing a deductible and can affect Lincoln MKS yearly insurance costs for different age groups of insureds. The premiums are based on a married male driver, full physical damage coverage, and no policy discounts are applied.

Rate difference between full and liability-only coverage

The diagram below visualizes the comparison of Lincoln MKS insurance premiums when comparing full coverage to state minimum liability only. The rates are based on no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are taken into consideration.

When to switch to liability coverage only

There is no clear-cut rule for excluding comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Lincoln MKS book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying the physical damage deductible. If premiums are more than $600 annually to have full coverage, then it might be time to consider dropping full coverage.

There are a few situations where only buying liability is not recommended. If you still have a loan on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Why Informed Consumers Pay Less for Lincoln MKS Insurance

Consumers need to have an understanding of some of the elements that are used to determine the rates you pay for auto insurance. If you understand what determines premiums, this empowers consumers to make smart changes that can help you get big savings.

Listed below are a few of the “ingredients” used by your company to calculate your rates.

Your credit score is important – Having a bad credit score is a big factor in determining premium rates. If your credit rating can be improved, you could be paying less to insure your Lincoln MKS by repairing your credit. People that have very high credit ratings tend to be more responsible and file fewer claims than drivers who have lower ratings.

Rates go up with performance – The make and model of the car or truck you own makes a big difference in your auto insurance rates. The lowest performance passenger vehicles normally have pretty low rates, but that’s not the only thing that factors into the final price.

The following chart uses these assumptions: single male driver age 40, full coverage with $100 deductibles, and no discounts or violations. It compares Lincoln MKS rates compared to other models of vehicles that have a range of risk factors.

Higher rates for specific occupations – Do you work in a high-stress field? Occupations like judges, architects, and stock brokers tend to pay higher rates than the rest of us attributed to job stress and long work hours. On the other hand, careers such as scientists, athletes and retirees get better rates.

Vehicles with better crash test results mean better prices – Vehicles with good safety scores tend to have better insurance rates. Vehicles engineered for safety help reduce the chance of injuries in an accident and lower rates of occupant injuries translates directly to fewer claims which can result in lower premiums.

Add-on coverages can add up – There are quite a few extra coverages that can add up on your MKS policy. Coverages like personal injury protection, towing coverage, and Farm Bureau memberships may be costing you every month. They may seem like a good idea initially, but now you might not need them so think about removing them and cutting costs.

Lower premiums for being claim-free – If you file a lot of claims you can pretty much guarantee higher premiums or even policy non-renewal. Car insurance companies in Florida provide cheaper rates to policyholders who only file infrequent claims. Insurance coverage is intended to be relied upon for major claims that would cause financial hardship.

Lincoln MKS claim data – Insurers analyze historical claim data when they file their rates in each state. Vehicles that statistically have higher frequency or amount of claims will cost more for coverage. The information below illustrates the insurance loss data used by companies for Lincoln MKS vehicles.

For each policy coverage, the claim probability for all vehicles compiled together is set at 100. Percentage numbers below 100 mean the vehicle has better than average losses, while percentage values above 100 indicate higher probability of having a loss or a tendency for losses to be larger than average.

Insurance Loss Ratings for Lincoln MKS Vehicles
Vehicle 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

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

Here’s why insurance is not optional

Despite the high insurance cost for a Lincoln MKS in Miami, paying for insurance is required by state law in Florida and it also provides benefits you may not be aware of.

The benefits of buying enough insurance more than offset the price you pay, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is currently overpaying as much as $750 every year so compare rates each time the policy renews to help ensure money is not being wasted.

Which car insurance company is best in Miami?

Finding a high-quality car insurance provider can be difficult considering how many choices drivers have in Miami. The ranking data listed below could help you analyze which auto insurers to look at putting your business with.

Top 10 Miami Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive