Penny Pincher's Guide to Insuring a Lincoln MKX
If finding affordable car insurance was easy, most of us would take the time to do it. But more than likely, it's challenging for most people and we always end up paying more than we want. Finding affordable coverage for your Lincoln MKX probably is no different.
Step One: Shop Around
The old way of buying car insurance was to make multiple trips to various local agents and get strong armed into a policy that didn't necessarily fit you. Welcome to the 21st century!
Getting online rate quotes for a Lincoln MKX from all the major insurance companies is very easy and only requires you to enter your information once.
Start a free rate quote comparison now by clicking the link below. Once you complete the short form, you'll be able to compare rates and then move on to our next section on how to lower rates even further.
Important Tip! In order to accurately compare rates for your MKX, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: How to Cut Costs on MKX Insurance
After step one is complete, it's now time to analyze some of the other factors that can negatively impact car insurance rates for a MKX.
- With age comes cheaper rates! If you're a senior citizen, many car insurance companies will give you a discount. Also, if you belong to a professional organization, check to see if your company gives discounts to members.
- MKX replacement parts are more expensive due to the quality of the parts, so you can expect your physical damage rates to be higher to reflect the higher cost of repair.
- If you carry full coverage on your vehicle, you can slash your rates by increasing your comprehensive and collision deductibles. You'll pay more out-of-pocket but you will save with every renewal.
- Teenage drivers can be very expensive to insure on newer vehicles will full coverage. You may be better off purchasing an older vehicle for your teenager and only insure it for liability.
- Minor driving violations such as speeding tickets can cause your rates to go up. Too many violations in a short period of time will cause your policy to be non-renewed.
- The less chance of injury to passengers in an accident means lower insurance rates. Vehicles with safety features like side-impact airbags, head injury protection, antilock bracks and traction control generally will be cheaper to insure.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- Insurance companies pay attention to which vehicles are stolen the most, so if your car is frequently targeted by thieves, chances are good you will pay more for insurance if you live in certain parts of the country.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- If your teen driver has completed a driver's education class in school, check to see if your insurance company offers any discounts for this.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- If you own a home, you may get a break on your car insurance. Home ownership demonstrates financial responsibility.
Step Three: Buy the Policy That's Right for You
You've compared rates and hopefully looked over the coverages for each vehicle on your policy to make sure they're adequate. Now you can make the big decision on which company will best fulfill your needs.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your Lincoln off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. Your existing car insurance policy will give you some coverage if you buy a new or used MKX, but unless you are already paying for full coverage, you won't have it until you add the vehicle to your policy.
The proof-of-insurance card that is required by state law to be carried in your vehicle can be printed out upon completion of your car insurance policy. Depending on your state's statutes, you may be required to file an SR-22 form if you've been convicted of an uninsured accident, DUI or license suspension. Make sure your new company is aware of this requirement and files it promptly.
More Educational Resources
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.