The best way we recommend to get the cheapest Lincoln MKT insurance in Memphis is to do a yearly price comparison from insurance carriers in Tennessee.
- Take a little time to learn about how companies price auto insurance and the things you can control to drop your rates. Many policy risk factors that drive up the price such as inattentive driving and a low credit rating can be controlled by making minor driving habit or lifestyle changes.
- Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agencies can quote prices from many different companies. Begin your rate comparison
- Compare the new rate quotes to your existing coverage to see if switching to a new carrier will save money. If you can save some money and change companies, ensure there is no coverage lapse between policies.
- Notify your current company of your decision to cancel your current auto insurance policy. Submit a down payment and signed policy application to your new agent or company. Make sure you put the certificate verifying coverage with the vehicle registration.
One tip to remember is that you’ll want to compare the same deductibles and limits on each quote and and to look at as many carriers as you can. This enables a fair rate comparison and a complete price analysis.
Shocking but true, a large majority of consumers have purchased from the same company for at least the last four years, and about 40% of consumers have never compared rate quotes at all. Many consumers in the U.S. could save an average of as much as $860 each year, but they don’t know how much savings they would realize if they just switched companies.
Finding low cost Lincoln MKT auto insurance quotes is pretty simple and can save money. Drivers just need to take a couple of minutes to get quotes online with multiple companies.
Doing price comparisons online is so simple that it replaces the need to actually drive to each insurance agency near you. The ability to quote Lincoln MKT insurance online has made agencies unnecessary unless you prefer the professional advice of a licensed agent. Some companies do allow you to find lower rates online but buy from a local insurance agent.
The auto insurance companies shown below are our best choices to provide price quotes in Memphis, TN. To get the best cheap car insurance in Memphis, TN, we suggest you click on several of them in order to get a fair rate comparison.
Earn discounts on Memphis insurance
Insuring your fleet can be pricey, but there’s a good chance there are discounts that can drop the cost substantially. Some discounts will apply at the time of purchase, but lesser-known reductions have to be asked for prior to receiving the credit.
- Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to successfully take a driver’s education course in school or through a local driver safety program.
- Seat Belts Save more than Lives – Forcing all vehicle occupants to wear their seat belts can save up to 15% on the medical payments or PIP coverage costs.
- E-sign – A handful of insurance companies will give you a small discount for buying your policy over the internet.
- Full Payment Discount – By making one initial payment instead of monthly or quarterly installments you may reduce your total bill.
- Military Rewards – Being deployed with a military unit may lower your rates slightly.
Policy discounts save money, but most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comp or med pay. If you do the math and it seems like all the discounts add up to a free policy, companies wouldn’t make money that way.
The information below shows the comparison of Lincoln MKT auto insurance costs with and without discounts being applied to the rates. Data assumes a male driver, no claims or violations, Tennessee state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, claim-free, safe-driver, marriage, and multi-car discounts applied.
Companies and their possible discounts are included below.
- State Farm offers discounts for safe vehicle, Steer Clear safe driver discount, anti-theft, good student, and multiple autos.
- GEICO includes discounts for good student, anti-theft, anti-lock brakes, defensive driver, driver training, and multi-policy.
- SAFECO may include discounts for anti-lock brakes, multi-car, teen safety rewards, homeowner, drive less, and bundle discounts.
- Farmers Insurance has discounts for multi-car, early shopping, alternative fuel, teen driver, distant student, and youthful driver.
- AAA offers discounts including AAA membership discount, good student, good driver, multi-car, multi-policy, and anti-theft.
- USAA may have discounts that include family discount, military installation, annual mileage, multi-vehicle, defensive driver, multi-policy, and vehicle storage.
When getting a coverage quote, ask all companies you are considering the best way to save money. Savings may not be offered in your area. If you would like to see a list of companies offering insurance discounts in Tennessee, click this link.
Insurance coverage details
The rate table shown next covers estimates of coverage prices for Lincoln MKT models. Learning as much as possible about how insurance rates are figured can help drivers make informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$304||$518||$332||$20||$100||$1,274||$106|
|MKT 3.7 AWD||$334||$596||$332||$20||$100||$1,382||$115|
|Get Your Own Custom Quote Go|
Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rates do not factor in specific zip code location which can decrease or increase coverage rates considerably.
Full coverage or liability only
The chart below illustrates the comparison of Lincoln MKT insurance costs with and without full coverage. The data assumes no violations or claims, $1,000 deductibles, single marital status, and no policy discounts are applied.
Are you wasting money paying for full coverage?
There is no clear-cut rule to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Lincoln MKT book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after the policy deductible has been paid. If you are currently paying more than $800 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some situations where buying only liability insurance is not advised. If you still have a lienholder on your title, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not drop full coverage.
What Determines Lincoln MKT Insurance Costs?
Lots of factors are used when you quote your car insurance policy. A few of the factors are predictable like an MVR report, but other factors are not as apparent such as your marital status and annual miles driven. One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that aid in calculating your premiums. When consumers understand what impacts premium levels, this enables informed choices that will entitle you to big savings.
Where you call home – Living in smaller towns and rural areas of the country has definite advantages when trying to find low car insurance rates. Residents of big cities tend to have congested traffic and longer commute times. Fewer drivers corresponds to lower accident rates and lower theft and vandalism rates.
Bundle home and auto and save – Most larger insurers afford a discount to policyholders that buy multiple policies such as combining an auto and homeowners policy. The discount can add up to 10 percent or more. Even with this discount applied, consumers should still compare Lincoln MKT rates in Memphis to help ensure you have the lowest rates.
Rates go up with performance – The type of car, truck or SUV you own makes a substantial difference in the rate you pay. Lower cost passenger cars usually are quite affordable to insure, but other factors influence the final cost greatly.
The following chart uses these assumptions: single female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. The data compares Lincoln MKT car insurance rates compared to other models that have a range of risk factors.
Better credit means lower prices – Credit history factor in determining what you pay. Insureds with high credit ratings tend to be better risks to insure as compared to drivers with lower credit ratings. Therefore, if your credit score is not that good, you could be paying less to insure your Lincoln MKT by taking the time to improve your credit score.
Job impacts rates – Occupational choices like doctors, business owners, and emergency personnel usually pay higher rates than the rest of us because of high stress and long work hours. Conversely, jobs such as scientists, athletes and homemakers generally pay rates lower than average.
Loss statistics for a Lincoln MKT – Insurance companies analyze past claim statistics to calculate a price that will offset losses. Vehicles that the data shows to have a higher amount or frequency of claims will be charged more to insure.
The information below illustrates the collected loss data for Lincoln MKT vehicles. For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, is represented as 100. Numbers under 100 indicate better than average losses, while percentage numbers above 100 indicate more frequent losses or statistically larger claims.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKT 4dr 2WD||128||133|
|Lincoln MKT 4dr 4WD||118||85||138||85|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Exclusive versus independent insurance agencies
Some people still like to talk to an insurance agent and that is just fine! Licensed agents can answer important questions and help submit paperwork. One of the great benefits of comparing rate quotes online is that you can obtain cheap auto insurance quotes but still work with a licensed agent. Buying from local agencies is still important in Memphis.
After filling out this quick form, your insurance coverage information gets sent to participating agents in Memphis that provide free Memphis car insurance quotes for your business. You never need to do any legwork as quotes are delivered directly to your email. If you wish to get a price quote from a specific company, you would need to visit that company’s website and give them your coverage information.
If you would like to find a local agent, it’s helpful to know the types of agencies from which to choose. Memphis agents can be categorized as either independent or exclusive depending on the company they work for. Either one can sell auto insurance policies, but we need to point out the difference in how they write coverage since it can affect the selection process.
Independent Agents (or Brokers)
Independent agencies are normally appointed by many insurers and that is an advantage because they can write policies with any number of different companies and get the cheapest rates. If they find a lower price, your agent can switch companies which makes it simple for you. When comparing auto insurance prices, you need to compare quotes from a couple of independent agencies to get the best comparison.
The following are independent agents in Memphis who can help you get price quote information.
Nationwide Insurance: Tri-State Insurance Agency Inc
5545 Murray Ave Ste 107 – Memphis, TN 38119 – (901) 767-3379 – View Map
Exclusive Insurance Agents
Agents in the exclusive channel normally can only provide a single company’s rates such as State Farm or Allstate. Exclusive agencies are unable to give you multiple price quotes so they have to upsell other benefits. Exclusive agents are well schooled on their company’s products and that can be a competitive advantage.
Listed below are Memphis exclusive agencies that can give you rate quotes.
Barry Sanders – State Farm Insurance Agent
6060 Quince Rd – Memphis, TN 38119 – (901) 767-2001 – View Map
Choosing the best insurance agent should include more criteria than just a cheap quote. Ask your prospective agent these questions:
- What are the financial ratings for the companies they represent?
- Which members of your family are coverage by the policy?
- How many years have they been established?
- Do you need full coverage on every vehicle?
- When do they do a full risk review?
- What will you get paid if your car is a total loss? How is that amount determined?
- How experienced are they in personal risk management?
Quote. Compare. Save.
When trying to cut insurance costs, it’s not a good idea to skimp on coverage in order to save money. There are a lot of situations where drivers have reduced full coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your goal should be to purchase plenty of coverage at the best cost, not the least amount of coverage.
Some auto insurance companies don’t offer price quotes online and most of the time these small, regional companies sell through local independent agencies. Lower-priced Lincoln MKT insurance in Memphis can be purchased on the web as well as from insurance agents, so compare prices from both to get a complete price analysis.
Additional auto insurance information is located at these links:
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Who Has the Cheapest Memphis Auto Insurance Quotes for a Toyota Camry? (FAQ)
- Who Has Cheap Memphis Auto Insurance Quotes for 18 Year Olds? (FAQ)
- What Car Insurance is Cheapest for Police Officers in Memphis? (FAQ)
- Understanding your Policy (NAIC.org)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Things to Know Before you Cancel Insurance (Allstate)