The preferred way to get more affordable car insurance rates in Durham is to start doing a yearly price comparison from insurance carriers in North Carolina.
First, try to understand how car insurance works and the things you can change to prevent expensive coverage. Many rating factors that drive up the price like accidents, careless driving, and a negative credit score can be rectified by paying attention to minor details. This article provides additional ideas to get better rates and find discounts that you may qualify for.
Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like GEICO or State Farm, while independent agencies can quote rates for many different companies.
Third, compare the new rate quotes to the price on your current policy to see if switching to a new carrier will save money. If you find better rates and change companies, verify that coverage does not lapse between policies.
Fourth, tell your current agent or company to cancel your current car insurance policy and submit a down payment along with a completed application for the new policy. As soon as you can, store the certificate of insurance in an easily accessible location in your vehicle.
The key aspect of shopping around is to try to compare identical coverage information on every quote request and and to get price estimates from every insurance company. Doing this helps ensure an accurate price comparison and a better comparison of the market.
Unthinkable but true, 70% of consumers have bought car insurance from the same company for a minimum of four years, and nearly the majority have never compared car insurance rates at all. Consumers in the U.S. could save themselves $859 a year by just comparing quotes, but they underestimate how much money they would save if they switched to a cheaper policy.
Most larger insurance companies allow you to get prices for coverage on their websites. Comparing prices online for Lincoln MKT insurance in Durham is possible for anyone as you simply enter the coverages you want as requested by the quote form. After you complete the form, the system sends out for credit information and your driving record and provides a quote.
Getting online rate quotes for Lincoln MKT insurance in Durham simplifies rate comparisons, and it’s necessary to have as many quotes as possible if you are searching for the most affordable possible premiums on car insurance.
To quickly fill out one form to compare multiple rates now, check out the car insurance providers below. If you have a policy now, it’s recommended you input deductibles and limits identical to your current policy. Using the same limits helps guarantee you will receive comparison quotes for similar insurance coverage.
The companies in the list below can provide free quotes in Durham, NC. If you want the best car insurance in Durham, we recommend you click on several of them to get the best price comparison.
Don’t neglect these discounts on Lincoln MKT insurance in Durham
Car insurance can cost a lot, but you may qualify for discounts to reduce the price significantly. Some discounts apply automatically at quote time, but once in a while a discount must be specially asked for prior to getting the savings.
- Air Bag Discount – Vehicles with factory air bags or motorized seat belts could see savings of up to 25% or more.
- Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to use a seat belt can save up to 10 percent (depending on the company) off PIP or medical payments premium.
- Anti-lock Brake System – Cars, trucks, and SUVs equipped with ABS or steering control are safer to drive so companies give up to a 10% discount.
- Professional Memberships – Affiliation with qualifying employment or professional organizations could earn you a nice discount when getting a Durham auto insurance quote.
- Multiple Policy Discount – When you combine your homeowners and auto insurance and insure them with the same company you may save as much as 10 to 15 percent.
- Senior Citizen Rates – Older drivers are able to get better insurance rates.
- Discount for Low Mileage – Keeping the miles down on your Lincoln could be rewarded with substantially lower premium rates.
- One Accident Forgiven – Not necessarily a discount, but companies like GEICO, State Farm, and Progressive may permit one accident before hitting you with a surcharge so long as you are claim-free for a specific time period.
Policy discounts save money, but some of the credits will not apply to the whole policy. Some only apply to individual premiums such as comprehensive or collision. So when the math indicates you can get free auto insurance, you won’t be that lucky.
The illustration below illustrates the difference between Lincoln MKT insurance prices with and without discounts applied to the rates. The premiums are based on a male driver, a clean driving record, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, homeowner, multi-car, marriage, and safe-driver discounts applied.
To see a list of insurance companies that have a full spectrum of discounts in Durham, click here.
Analysis of coverages
The data table displayed next outlines estimates of insurance premium costs for Lincoln MKT models. Having a good grasp of how rates are figured can help guide drivers when making smart choices when comparing insurance quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $242 | $382 | $282 | $16 | $84 | $1,006 | $84 |
| MKT 3.7 AWD | $266 | $440 | $282 | $16 | $84 | $1,088 | $91 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in zip code location which can decrease or increase premiums noticeably.
The illustration below highlights how deductible choice and can raise or lower Lincoln MKT insurance costs for different ages of insureds. The rate quotes are based on a single female driver, comprehensive and collision coverage, and no discounts are applied.
Gender-based auto insurance premiums in Durham
The illustration below shows the comparison of Lincoln MKT insurance premiums for male and female drivers. The premiums assume no accidents or driving violations, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are taken into consideration.
Lincoln MKT liability rates compared to full coverage
The information below visualizes the comparison of Lincoln MKT insurance prices with and without full coverage. The data assumes no accidents or driving violations, $1,000 deductibles, single status, and no discounts are applied.
When to stop buying physical damage coverage
There is no set rule to delete comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s pretend your Lincoln MKT settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after paying the physical damage deductible. If it’s costing in excess of $400 a year to have full coverage, then it might be time to consider dropping full coverage.
There are some situations where buying only liability insurance is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not eliminate full coverage.
Buying insurance from Durham auto insurance agents
Some people just want to buy from a licensed agent and doing that can be a smart decision Licensed agents can help you choose the best coverages and help submit paperwork. A good thing about price shopping on the web is that you can obtain better rates but also keep your business local.
After filling out this short form, your insurance data is immediately sent to agents in your area who can give free rate quotes to get your business. There is no need to drive around due to the fact that quote results will go to you. If you have a need to quote rates from a specific insurance provider, you can always find their quoting web page to submit a rate quote request.
Finding a good provider should include more criteria than just a cheap quote. Get answers to these questions too.
- Do they receive special compensation for putting your coverage with one company over another?
- Do they review policy coverages at every renewal?
- Which insurance companies are they affiliated with?
- Can glass repairs be made at your home?
- Will the company cover a rental car if your car is getting fixed?
- Do they make recommendations based only on price?
Shown below are Durham auto insurance companies that are able to give rate quotes for Lincoln MKT insurance in Durham.
- Mike Embree Insurance Agency
3813 University Dr – Durham, NC 27707 – (919) 489-7336 – View Map - Ashley Manuel – State Farm Insurance Agent
5842 Fayetteville Rd #112 – Durham, NC 27713 – (919) 544-8101 – View Map - John Moore – State Farm Insurance Agent
1107 W Main St #201 – Durham, NC 27701 – (919) 598-7900 – View Map - Bull City Insurance
121 Sherron Rd #302 – Durham, NC 27703 – (919) 596-0671 – View Map
Auto insurance can get complicated
When selecting proper insurance coverage for your personal vehicles, there really isn’t a one-size-fits-all type of policy. Your needs are unique to you and a cookie cutter policy won’t apply.
Here are some questions about coverages that may help highlight if you would benefit from an agent’s advice.
- When do I need to add a new car to my policy?
- Is my Lincoln MKT covered for smoke damage?
- Should I rate my Lincoln MKT as pleasure use or commute?
- How does medical payments coverage work?
- What can I do if my company won’t pay a claim?
- At what point should I drop full coverage?
- Is my custom paint covered by insurance?
- Should I buy additional glass protection?
- How much will a speeding ticket raise my rates?
If you can’t answer these questions, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of auto insurance companies in your area. It only takes a few minutes and you can get the answers you need.
Lincoln MKT Insurance Price Factors
When buying insurance it’s important to understand the factors that are used to determine your insurance rates. If you understand what determines premiums, this enables informed choices that could result in big savings.
-
More performance means higher prices – The make and model of the vehicle you drive makes a substantial difference in determining your rates. Smaller low performance passenger cars usually have the lowest rates, but the final cost of insurance is determined by many other factors.
The next chart uses these assumptions: single female driver age 50, full coverage with $250 deductibles, and no discounts or violations. It shows Lincoln MKT insurance rates compared to other models of vehicles that have different performance risks.
- Put fewer miles on your vehicle – Driving a lot of miles every year the higher your rate. Almost all companies apply a rate based upon how the vehicle is primarily used. Cars and trucks that sit idle most of the time cost less to insure than vehicles that have high annual mileage. Incorrect rating for your MKT can result in significantly higher rates. Verify your insurance coverage properly reflects the right rating data.
- Certain employers pay higher prices – Did you know your occupation can influence how much you pay for insurance? Careers such as military generals, police officers, and emergency personnel are shown to have higher premium rates due to intense work-related stress and long work days. Other occupations such as scientists, engineers and homemakers pay the least.
- Bundle and save – Most larger insurers give better rates to insureds who carry more than one policy, otherwise known as a multi-policy discount. Discounts can amount to ten or even fifteen percent. Even if you’re getting this discount drivers will still want to comparison shop to make sure you are getting the best deal.
-
Older drivers pay less – More experienced drivers are more responsible, cost insurance companies less in claims, and are safer drivers. Teen drivers are statistically proven to be less responsible when at the wheel of a vehicle therefore insurance rates are much higher.
The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Low credit score equals high rates – An insured’s credit history can be a huge factor in determining what you pay. Insureds that have very good credit scores tend to be better risks to insure than drivers with worse credit. If your credit leaves room for improvement, you could potentially save money when insuring your Lincoln MKT by improving your credit score.
-
Lincoln MKT historical loss data – Insurers factor in historical loss data to help calculate a profitable premium price. Vehicles that tend to have increased losses will have higher premium rates. The information below illustrates the collected loss data for Lincoln MKT vehicles.
For each policy coverage type, the claim amount for all vehicles averaged together equals 100. Numbers below 100 are indicative of better than average losses, while numbers above 100 point to more losses or statistically larger claims.
Auto Insurance Loss Data for Lincoln MKT Models 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why you need insurance
Even though it’s not necessarily cheap to insure a Lincoln in Durham, insurance is required by state law in North Carolina and it also provides benefits you may not be aware of.
- Just about all states have mandatory liability insurance requirements which means the state requires a specific minimum amount of liability insurance coverage in order to drive the car legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your MKT, it’s most likely the lender will have a requirement that you have full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Lincoln for a much higher rate and force you to reimburse them the higher price.
- Insurance protects your vehicle and your assets. It will also reimburse you for many types of medical costs incurred in an accident. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of an accident. If your Lincoln gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.
The benefits of carrying adequate insurance more than cancel out the cost, particularly when you have a large claim. On average, a vehicle owner in Durham is currently overpaying as much as $800 each year so compare rate quotes every year to be sure current rates are still competitive.
Compare. Compare. Compare.
In this article, we presented a lot of ways to reduce Lincoln MKT insurance premium rates online in Durham. It’s most important to understand that the more providers you compare, the better chance you’ll have of finding the cheapest Lincoln MKT rate quotes. Drivers may even discover the best premium rates are with an unexpected company. These smaller insurers may only write in your state and offer lower prices as compared to the big name companies such as State Farm, GEICO and Nationwide.
As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. There are a lot of situations where an accident victim reduced full coverage and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your objective should be to get the best coverage possible for the lowest cost while still protecting your assets.
For more information, link through to the following helpful articles:
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance for Good Students in Durham? (FAQ)
- Who Has Cheap Car Insurance for Inexperienced Drivers in Durham? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers Under 21 in Durham? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Teenage Males in Durham? (FAQ)
- Senior Drivers (Insurance Information Institute)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Credit and Insurance Scores (Insurance Information Institute)