Save on Lincoln MKS Insurance in Memphis

Insurance quote for Lincoln MKS in MemphisHow long has it been since you sat down and looked for more affordable Lincoln MKS insurance in Memphis? Did a good deal turn into overpriced Lincoln MKS insurance in Memphis? You’re in good company because many Memphis drivers have buyer’s remorse.

It’s shocking but the vast majority of drivers kept their policy with the same company for at least the last four years, and nearly the majority have never compared rates with other companies. Memphis drivers could cut their rates by almost 35% a year by just comparing rate quotes, but they underestimate the amount of money they would save if they switch to a new company. Because you have many online and local companies to choose from, it’s nearly impossible to find the lowest price company.

It’s smart to price shop coverage before your policy renews because insurance prices fluctuate regularly. Even if you think you had the best rates on Lincoln MKS insurance in Memphis six months ago you can probably find a lower rate today. Forget anything you know (or think you know) about car insurance because it’s time to teach you how to quote online to reduce your cost while increasing coverage.

Choosing the best rates in Memphis is actually very simple if you learn how to start. If you have insurance now, you will be able to buy cheaper insurance using these tips. Drivers just have to use the most efficient way to compare prices using one simple form.

Car insurance providers offering low-cost price quotes in Tennessee

The providers in the list below have been selected to offer free rate quotes in Tennessee. To locate cheap car insurance in TN, we suggest you compare several of them to get a more complete price comparison.

Statistics and details

The premium table displayed next outlines estimates of coverage prices for Lincoln MKS models. Being aware of how car insurance prices are calculated can help you make decisions when shopping your coverage around.

Lincoln MKS Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $222 $404 $250 $14 $74 $964 $80
MKS 4-Dr Sedan $222 $404 $250 $14 $74 $964 $80
MKS Ecoboost AWD 4-Dr Sedan $244 $456 $250 $14 $74 $1,038 $87
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Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Premium costs do not factor in zip code location which can influence premium rates substantially.

An analysis of deductible level

A question often asked by Memphis drivers is how high should the physical damage coverage deductibles be. The following tables can help show the difference in cost between high and low physical damage coverage deductibles. The first data set uses a $250 deductible and the second price grid uses a $500 deductible.

Lincoln MKS insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $280 $510 $246 $14 $74 $1,149 $96
MKS 4-Dr Sedan $280 $510 $246 $14 $74 $1,149 $96
MKS Ecoboost AWD 4-Dr Sedan $310 $578 $246 $14 $74 $1,247 $104
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Lincoln MKS insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKS AWD 4-Dr Sedan $228 $412 $246 $14 $74 $974 $81
MKS 4-Dr Sedan $228 $412 $246 $14 $74 $974 $81
MKS Ecoboost AWD 4-Dr Sedan $252 $466 $246 $14 $74 $1,052 $88
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate information does not factor in your specific Memphis location which can lower or raise insurance rates substantially.

Based on the above data, using a $250 deductible costs approximately $16 more each month or $192 annually than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 16 months between claim filings, you would probably come out ahead if you elect the higher deductible. Below is how you can decide this on your own policy.

Average monthly premium for $250 deductibles: $99
Average monthly premium for $500 deductibles (subtract): – $83
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

One thing to be aware of is that higher deductibles means you will have to cover more of the damage yourself when you have a claim. You must have a higher level of savings in the event you have to pay the deductible for vehicle repair.

Full coverage rates compared to liability-only

The illustration below shows the comparison of Lincoln MKS yearly insurance costs with and without full coverage. The costs are based on no violations or accidents, $500 deductibles, single status, and no discounts are factored in.

When to buy liability coverage only

There is no definitive formula of when to drop physical damage coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your Lincoln MKS book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying more than $400 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are a few cases where only buying liability is not advised. If you haven’t satisfied your loan, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Get cheaper rates on Lincoln MKS insurance in Memphis with these auto insurance discounts

Some insurance providers do not advertise all their discounts very clearly, so the below list has a few of the more common as well as the least known credits available to bring down your rates. If you do not check that you are getting every discount possible, it’s possible you qualify for a lower rate.Save money with discounts

Discounts save money, but please remember that some credits don’t apply to your bottom line cost. Some only apply to the cost of specific coverages such as liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, nobody gets a free ride.

The example below illustrates the difference between Lincoln MKS yearly insurance costs with and without discounts applied to the rates. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, Tennessee 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 safe-driver, homeowner, claim-free, multi-car, multi-policy, and marriage discounts applied.

Some companies that may offer these benefits include:

Double check with each company or agent to give you their best rates. All car insurance discounts may not apply in Memphis. To choose auto insurance companies offering auto insurance discounts in Tennessee, click this link.

Learn How to Lower Your Insurance Rates

Lots of things are part of the equation when pricing auto insurance. Some factors are common sense like a motor vehicle report, although others are less apparent like your continuous coverage or your commute time.

Do I need an insurance agency?

A small number of people just prefer to have an agent’s advice and that is a personal choice. Experienced insurance agents can answer important questions and will help you if you have claims. A nice benefit of getting free rate quotes online is the fact that drivers can get lower prices but still work with a licensed agent.

Insurance agency in MemphisTo help locate an agent, after submitting this simple form, your insurance data is immediately sent to insurance agents in Memphis who will give competitive quotes for your insurance coverage. You don’t have to leave your computer as quotes are delivered directly to you. If for some reason you want to compare rates for a specific company, you would need to find their quoting web page to submit a rate quote request.

Picking the best company shouldn’t rely on just a cheap price. Any good agent in Memphis should know the answers to these questions.

If you want a good insurance agency, there are two different types of agencies and how they differ in how they can insure your vehicles. Insurance policy providers are considered either exclusive agents or independent agents. Both types of agents can handle insurance, but it’s important to know the difference in the companies they write for since it could factor into the kind of agent you use.

Exclusive Agencies

These type of agents can only place business with one company such as Farmers Insurance, State Farm, or Allstate. These agents are not able to provide prices from multiple companies so you might not find the best rates. Exclusive agents are trained well on sales techniques which can be an advantage.

Below are Memphis exclusive insurance agencies who can help you get price quotes.

4466 Elvis Presley Blvd #247Memphis, TN 38116(901) 398-7200View Map

3486 Poplar Ave #102Memphis, TN 38111(901) 454-7912View Map

4947 William Arnold RdMemphis, TN 38117(901) 767-1361View Map

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Independent Insurance Agencies

These agents often have many company appointments so they can write business amongst many companies and get you the best rates possible. If they find a cheaper price, they simply switch companies in-house without you having to go to a different agency. If you need cheaper insurance rates, you need to get insurance quotes from at a minimum one independent agency to maximize your price options.

Below is a list of independent agents in Memphis willing to provide rate quotes.

866 Ridgeway Loop Rd #200Memphis, TN 38120(901) 767-3600View Map

2550 Poplar AveMemphis, TN 38112(901) 458-1630View Map

5900 Poplar AveMemphis, TN 38119(901) 766-0200View Map

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If you get acceptable answers to your questions and the cheapest Lincoln MKS insurance in Memphis quotes, it’s a good possibility that you have found an insurance agency that can be relied on to service your policy.

Best car insurance in Memphis

Finding the best car insurance company can be challenging considering how many companies are available to choose from in Memphis. The company rank data in the lists below could help you decide which car insurance companies to look at shopping prices with.

Top 10 Memphis Car Insurance Companies by A.M. Best Rank

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Erie Insurance – A+
  6. Titan Insurance – A+
  7. Esurance – A+
  8. Progressive – A+
  9. Nationwide – A+
  10. The Hartford – A+

More quotes mean more car insurance savings

As you go through the steps to switch your coverage, it’s a bad idea to buy poor coverage just to save money. In many instances, someone dropped liability limits or collision coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy enough coverage for the lowest price, but do not sacrifice coverage to save money.

Lower-priced Lincoln MKS insurance in Memphis can be bought on the web and with local Memphis insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers do not offer online price quotes and these smaller providers only sell coverage through independent agents.

How to buy lower priced Lincoln MKS insurance in Memphis

If saving the most money is your goal, then the best way to get affordable Lincoln MKS insurance in Memphis is to make a habit of regularly comparing prices from different companies in Tennessee. You can compare rates by following these guidelines.

Step 1: Get a basic knowledge of auto insurance and the factors you can control to drop your rates. Many rating factors that drive up the price such as careless driving and poor credit can be amended by making minor changes to your lifestyle.

Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like Progressive and State Farm, while independent agents can provide rate quotes for a wide range of insurance providers. View companies

Step 3: Compare the new rate quotes to the premium of your current policy to see if you can save by switching companies. If you find better rates and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

Step 4: Tell your current company of your intent to cancel your current coverage. Submit any necessary down payment along with the completed application to your new insurance company. Be sure to store the certificate verifying coverage in your glove compartment.

A crucial key to this process is to make sure you’re comparing the same coverage limits and deductibles on each quote and and to get price quotes from as many auto insurance providers as possible. This enables an apples-to-apples comparison and maximum price selection.

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