How many years has it been since you compared more competitive Lincoln MKT insurance in Philadelphia? Price shopping your Lincoln MKT insurance in Philadelphia could be kind of frustrating for drivers new to online comparison shopping. People have so many options that it can be a ton of work to find more affordable rates in Pennsylvania.
It goes without saying that insurance companies don’t want you to look for a cheaper policy. Drivers who compare rates annually are likely to switch to a new company because they stand a good chance of finding a lower-priced policy. A survey found that people who shopped around saved approximately $3,450 over four years compared to people who never compared rates.
If finding low prices for car insurance in Philadelphia is the reason for your visit, then having some knowledge of how to find and compare auto insurance can save time, money, and frustration.
It’s a good habit to do price comparisons periodically because car insurance rates go up and down regularly. Even if you think you had the best deal on Lincoln MKT insurance in Philadelphia a year ago you may be paying too much now. Block out anything you think you know about car insurance because you’re about to learn the easiest way to reduce your cost while improving coverage.
Locating the best rates in Philadelphia is really quite simple as long as you have a good starting point. If you currently have a car insurance policy, you will surely be able to get lower rates using the ideas presented in this article. But Pennsylvania car owners must learn how companies market on the web and use it to your advantage.
All the larger car insurance companies such as State Farm, GEICO and Progressive provide coverage price quotes from their websites. Getting Lincoln MKT insurance prices online is quite simple as you simply enter the amount of coverage you want as detailed in the form. After the form is submitted, their rating system pulls information on your driving record and credit history and returns a price based on the data you entered.
This makes it easy to compare insurance prices and it’s also necessary to do this if you want to get affordable car insurance pricing.
In order to find out how much you can save on car insurance, check out the car insurance providers below. If you have your current policy handy, we recommend you copy coverages and limits just like they are on your policy. This helps ensure you are getting comparison quotes based on similar coverages.
The car insurance companies shown below can provide comparison quotes in Pennsylvania. If multiple providers are shown, we suggest you visit several of them to get the most competitive price.
Analysis of coverages
The table shown next highlights a range of rate quotes for Lincoln MKT models. Being able to understand how auto insurance premiums are determined can assist in making smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $276 | $494 | $390 | $24 | $116 | $1,300 | $108 |
| MKT 3.7 AWD | $304 | $570 | $390 | $24 | $116 | $1,404 | $117 |
| Get Your Own Customized Quote Go | |||||||
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium costs do not factor in specific garaging location which can revise premiums noticeably.
Should you raise deductibles?
One of the more difficult decisions when buying auto insurance is how high should your deductibles be. The following tables highlight the premium difference of buying low and high deductibles. The first rate quote example uses a $250 physical damage coverage deductible and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $320 | $506 | $372 | $22 | $112 | $1,357 | $113 |
| MKT 3.7 AWD | $352 | $582 | $372 | $22 | $112 | $1,465 | $122 |
| Get Your Own Customized Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $260 | $408 | $372 | $22 | $112 | $1,174 | $98 |
| MKT 3.7 AWD | $286 | $468 | $372 | $22 | $112 | $1,260 | $105 |
| Get Your Own Customized Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Premium amounts do not factor in vehicle location which can decrease or increase premium rates noticeably.
Based on this data, using a $250 deductible would cost the average driver about $16 more each month or $192 for a full year than buying the higher $500 deductible. Since the policyholder would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally average at a minimum 16 months between claim filings, you would more than likely save some money by selecting a higher deductible. Here’s a better example of how you can come to your own conclusion.
| Average monthly premium for $250 deductibles: | $118 |
| Average monthly premium for $500 deductibles (subtract): | – $102 |
| Monthly savings from raising deductible: | $16 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $16 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 16 months |
An important sidenote is that raising deductibles means you will have to pay more of your own money if you have a claim. You will want to have enough disposable savings in the event you have to pay the higher deductible.
Impact of careless driving on auto insurance rates
The example below shows how traffic citations and fender-benders can raise Lincoln MKT auto insurance rates for different age groups. The prices are based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.
Does it make sense to buy full coverage?
The information below compares Lincoln MKT yearly insurance costs when comparing full coverage to state minimum liability only. The information is based on no claims or violations, $1,000 deductibles, drivers are not married, and no discounts are applied.
When to drop comprehensive and collision
There is no definitive guideline to stop paying for physical damage coverage, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s pretend your Lincoln MKT replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after paying your deductible. If it’s costing in excess of $700 annually to have full coverage, then it could be time to drop full coverage.
There are some scenarios where buying only liability insurance is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Do I need special coverages?
When it comes to coverage, there isn’t really a one-size-fits-all type of policy. You are unique.
For example, these questions may help you determine whether you will benefit from professional help.
- What can I do if my company won’t pay a claim?
- Do they offer discounts for home and auto coverage?
- Do I need to call my car insurance company before buying a new car?
- What does medical payments coverage do?
- What is an adequate liability insurance limit?
- Is rental equipment covered for theft or damage?
- What is PIP insurance?
- Does my insurance cover my expensive audio equipment?
- Am I covered if my car is in a flood?
- What is high-risk coverage and where do I buy it?
If you’re not sure about those questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, take a second and complete this form.
Local agents and car insurance
Certain consumers would prefer to have an agent’s advice and doing that can be a smart decision The biggest benefit of getting free rate quotes online is you can get lower prices but still work with a licensed agent.
After completing this simple form, your insurance data is emailed to local insurance agents who can give free rate quotes for your business. There is no reason to do any legwork since price quotes are sent directly to your email. You can find the lowest rates and a licensed agent to work with. If you need to compare rates from a specific car insurance provider, you just need to search and find their rate quote page and submit a quote form there.
Deciding on an insurer should depend on more than just the premium amount. These are some valid questions you should ask.
- Are they properly licensed to sell insurance in Pennsylvania?
- When do they do policy reviews?
- What insurance companies do they recommend if they are an independent agent?
- Where are claims handled?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- How will an accident affect your rates?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?