Best Lincoln MKT Insurance in Plano

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Insurance quote for Lincoln MKT in PlanoThe easiest way to get affordable Lincoln MKT insurance is to make a habit of comparing prices annually from providers that sell auto insurance in Plano.

  • Step 1: Read and learn about individual coverages and the things you can control to keep rates low. Many rating criteria that drive up the price like careless driving and your credit history can be controlled by making minor driving habit or lifestyle changes. Later in this article we will cover more details to prevent high rates and get bigger discounts that may have been overlooked.
  • Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can quote rates from multiple insurance companies.
  • Step 3: Compare the new rates to your current policy premium to see if a cheaper rate is available. If you can save some money and decide to switch, make sure there is no lapse in coverage.
  • Step 4: Give notification to your current company to cancel your current policy. Submit payment along with a signed and completed policy application for your new coverage. Immediately keep the new certificate of insurance in an easily accessible location.

The key aspect of shopping around is to use the same deductibles and limits on each price quote and and to look at as many auto insurance providers as possible. Doing this provides a fair rate comparison and a good representation of prices.

A recent insurance study discovered that nearly 70% of consumers renewed their policy with the same company for over three years, and nearly half have never compared rate quotes at all. With the average insurance premium being $1,847, American drivers could save roughly $860 a year, but most undervalue the rate savings if they moved their coverage to a different company.

Companies offering Lincoln MKT insurance in Plano

The following companies can provide free quotes in Texas. To get cheap car insurance in Texas, we recommend you visit as many as you can to get the lowest price.

Lincoln MKT insurance rate analysis

The coverage information shown below highlights a range of prices for Lincoln MKT models. Being able to understand how auto insurance prices are calculated can assist in making decisions on the best policy to buy.

Lincoln MKT Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $292 $462 $440 $26 $132 $1,352 $113
MKT 3.7 AWD $322 $532 $440 $26 $132 $1,452 $121
Get Your Own Custom Quote Go

Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Price estimates do not factor in specific zip code location which can modify price quotes considerably.

Raise deductibles and save

A question often asked by Plano drivers is how high should the physical damage coverage deductibles be. The comparison tables below determine the rate difference between low and high comp and collision deductibles. The first set of prices uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Lincoln MKT insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $370 $584 $430 $26 $128 $1,563 $130
MKT 3.7 AWD $408 $672 $430 $26 $128 $1,689 $141
Get Your Own Custom Quote Go
Lincoln MKT insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $300 $472 $430 $26 $128 $1,356 $113
MKT 3.7 AWD $332 $542 $430 $26 $128 $1,458 $122
Get Your Own Custom Quote Go

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rates do not factor in specific location information which can alter price quotes noticeably.

Using the premium rates above, we can conclude that using a $250 deductible costs approximately $18 more each month or $216 each year averaged for all MKT models than selecting the higher $500 deductible. Since 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 14 months between claims, you would save more money by going with a higher deductible. The table below shows a better example of how you can come to your own conclusion.

Average monthly premium for $250 deductibles: $136
Average monthly premium for $500 deductibles (subtract): - $118
Monthly savings from raising deductible: $18
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One important caveat is that a higher deductible level means you will have to pay more out-of-pocket when you have to file a claim. You need some non-essential savings in the event you need to pay more to get your vehicle repaired.

Annual premiums for males compared to females

The example below illustrates the comparison of Lincoln MKT insurance rates for male and female drivers. The costs are based on no claims or driving violations, full coverage, $250 deductibles, drivers are not married, and no other discounts are factored in.

Should you buy full coverage?

The example below illustrates the difference between Lincoln MKT insurance costs with full physical damage coverage and with liability coverage only. The costs are based on no driving violations, no at-fault accidents, $500 deductibles, single status, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no definitive guideline to exclude physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is more than around 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let's assume your Lincoln MKT settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying your deductible. If premiums are more than $600 annually to have full coverage, then you may want to consider only buying liability coverage.

There are some cases where removing full coverage is not a good plan. If you haven't paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.

Smart Buyers Save More

Many things are part of the equation when you quote your car insurance policy. Some are obvious such as your driving record, but other factors are more transparent like your continuous coverage or your vehicle rating.

Being married is a bonus - Having a wife or husband can get you a discount on your car insurance bill. Having a significant other usually means you are more mature and insurance companies like that drivers who are married file infrequent claims.

Pay more by driving carelessly - Being a careful driver has a big impact on rates. Drivers with clean records get better prices compared to bad drivers. Getting just one chargeable violation can increase rates by as much as thirty percent. Drivers with flagrant citations such as reckless driving or DUI may find they need to prove financial responsibility with their state's licensing department in order to keep their license.

The diagram below shows how violations and accidents increase Lincoln MKT auto insurance costs for different age groups. The price estimates are based on a single female driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

Never go without car insurance - Driving any period of time without insurance can get you a ticket and companies may charge more for letting your insurance coverage expire. In addition to paying higher rates, the inability to provide proof of insurance might get you a revoked license or a big fine.

Cheaper rates using alarms and GPS tracking - Owning a car with a theft deterrent system can earn a premium discount. Theft deterrent systems like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder vehicle theft.

Insurance loss data for a Lincoln MKT - Insurers analyze historical claim data as a tool for profitable underwriting. Models that tend to have higher loss trends will cost more for coverage.

The table below demonstrates the insurance loss data used by companies for Lincoln MKT vehicles. For each policy coverage type, the loss probability for all vehicles, as a total average, is a value of 100. Percentage numbers below 100 are indicative of better than average losses, while percentage values above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.

Lincoln MKT Insurance Loss Statistics
Vehicle 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
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years

Discounts for cheaper insurance rates

Insurance is not inexpensive, but you might find some hidden discounts that could drop your premiums quite a bit. A few discounts will automatically apply at the time of quoting, but lesser-known reductions have to be inquired about before you get the savings.Insurance discounts

  • Theft Deterrent - Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and qualify for as much as a 10% discount.
  • Save with a New Car - Insuring a vehicle that is new can get you a discount because newer models have to meet stringent safety requirements.
  • Accident Free - Insureds with no claims or accidents have much lower rates as opposed to policyholders that have many claims.
  • Fewer Miles Equal More Savings - Driving less could earn lower rates on the low mileage vehicles.
  • Professional Organizations - Being in a professional or civic organization could trigger savings when getting a Plano car insurance quote.
  • Student Discount for Driver Training - Make teen driver coverage more affordable by requiring them to successfully take a driver's education course if it's offered in school.
  • First Accident Forgiveness - Not really a discount, but a few companies such as GEICO, Progressive, and Allstate may permit one accident before hitting you with a surcharge so long as you are claim-free for a particular time prior to the accident.
  • Homeowners Savings - Just being a homeowner may earn you a small savings because owning a home requires a higher level of personal finance.

Just know that some of the credits will not apply to the entire cost. Most only reduce individual premiums such as liability, collision or medical payments. Even though it may seem like all those discounts means the company will pay you, it's just not the way it works.

The illustration below compares Lincoln MKT car insurance rates with and without discounts. The prices are based on a male driver, no claims, a clean driving record, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-car, marriage, and multi-policy discounts applied.

Some of the larger companies who may offer most of the discounts above include:

If you need affordable Plano car insurance quotes, ask all the companies which credits you are entitled to. All car insurance discounts might not be offered in Plano. If you would like to choose from a list of insurance companies that offer some of these discounts in Texas, click here to view.

Car insurance agents near you

Many people just prefer to get professional advice from a licensed agent and that is just fine! An additional benefit of price shopping on the web is the fact that drivers can get the best rates and still have an agent to talk to. Putting coverage with small agencies is important particularly in Plano.

Find insurance agent in PlanoAfter completing this form (opens in new window), your insurance coverage information is submitted to insurance agents in Plano who will gladly provide quotes and help you find cheaper coverage. It's much easier because you don't need to drive around because prices are sent directly to your email. You can find lower rates AND a local agent. If you have a need to compare prices from a specific auto insurance provider, you just need to search and find their rate quote page and submit a quote form there.

Multiple types of auto insurance agents in Plano

If you are searching for a local Plano insurance agency, you should know the different types of agents to choose from. Auto insurance agents in Plano can be described as either independent or exclusive.

Independent Auto Insurance Agents

Agents that elect to be independent are not employed by any specific company and that is an advantage because they can write policies with multiple insurance companies enabling the ability to shop coverage around. If they find a lower price, the business is moved internally and you can keep the same agent.

If you are comparing auto insurance prices, you need to include multiple independent agents so that you have a good selection of quotes to compare.

Listed below is a list of independent insurance agents in Plano who may provide rate quotes.


5600 Tennyson Pkwy #243 - Plano, TX 75024 - (972) 665-9975 - View Map


4040 McDermott Rd #200 - Plano, TX 75024 - (972) 668-1000 - View Map


800 E Central Pkwy Ste 200 - Plano, TX 75074 - (972) 422-9412 - View Map

More insurance agents

Exclusive Insurance Agents

These type of agents are contracted to one company and some examples include AAA, Allstate, State Farm, or Farmers Insurance. These agents are not able to compare other company's rates so they have no alternatives for high prices. Exclusive agencies are very knowledgeable on what they offer which can be an advantage.

Below are Plano exclusive insurance agencies who can help you get comparison quotes.


5809 Preston Rd #586 - Plano, TX 75093 - (972) 378-1024 - View Map


8612 Preston Rd d119 - Plano, TX 75024 - (972) 384-2660 - View Map


1729 N Central Expy Suite A - Plano, TX 75075 - (972) 509-5600 - View Map

More insurance agents

Selecting an insurance agency should include more criteria than just the bottom line cost. Before buying a policy in Plano, get answers to these questions.

  • Are there any discounts for paying up front?
  • Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
  • Does the agent have professional designations like CIC, CPCU or AIC?
  • Are they paid to recommend certain coverages?
  • How long have they been in business?
  • Can you choose the body shop in case repairs are needed?

Final considerations

Some insurance providers do not offer the ability to get a quote online and many times these regional carriers prefer to sell through independent agencies. Affordable Lincoln MKT insurance in Plano is attainable on the web in addition to local insurance agencies, so you should be comparing quotes from both in order to have the best price selection to choose from.

When searching for the cheapest Lincoln MKT rate quotes, it's a bad idea to reduce needed coverages to save money. There have been many cases where someone dropped liability limits or collision coverage and learned later they didn't have enough coverage. The goal is to buy a smart amount of coverage for the lowest price.

In this article, we covered some good ideas how to shop for Lincoln MKT insurance online. The most important thing to understand is the more you quote Plano car insurance, the better your chances of lowering your prices. Consumers could even find that the most savings is with the least-expected company. Some small companies often have lower prices on specific markets than their larger competitors like Allstate, GEICO and Progressive.

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