If saving money is your primary concern, then the best way to find more affordable Lincoln MKX insurance is to do an annual price comparison from insurance carriers that insure vehicles in Cincinnati.
- It will benefit you to learn about what is in your policy and the changes you can make to prevent expensive coverage. Many risk factors that result in higher rates like high-risk driving behaviors and an unfavorable credit rating can be rectified by being financially responsible and driving safely.
- Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple companies.
- Compare the new rate quotes to your existing policy to determine if you can save on MKX insurance in Cincinnati. If you can save money and switch companies, make sure there is no coverage gap between policies.
- Notify your company or agent to cancel your current coverage and submit a signed application and payment to your new carrier. Immediately keep your new proof of insurance certificate above your visor, in the console, or in the glove compartment.
One tip to remember is to make sure you’re comparing the same deductibles and limits on each price quote and and to look at as many car insurance companies as possible. Doing this provides the most accurate price comparison and a complete price analysis.
It’s a fact that car insurance companies want to keep you from comparing rates. People who shop for lower prices will, in all likelihood, switch companies because there is a good chance of finding a policy with better rates. A recent car insurance study discovered that drivers who faithfully checked for cheaper rates saved approximately $3,500 over four years compared to people who never shopped around for cheaper prices.
If finding the cheapest rates on auto insurance in Cincinnati is the reason you’re here, then having some insight into how to compare coverage rates can make shopping around easier.
The car insurance companies shown below offer comparison quotes in Ohio. In order to find cheaper car insurance in Cincinnati, it’s highly recommended you visit as many as you can in order to find the most competitive rates.
Insurance discounts help lower rates for Lincoln MKX insurance in Cincinnati
Some insurance providers don’t necessarily list their entire list of discounts in an easy-to-find place, so the following is a list of both the well known and also the more inconspicuous discounts you could be receiving when you buy Cincinnati car insurance online.
- Claim Free – Drivers with accident-free driving histories have much lower rates compared to drivers with a long claim history.
- Good Driver Discount – Insureds who avoid accidents may save up to 50% more as compared to drivers with claims.
- Accident Forgiveness – Not necessarily a discount, but a handful of insurance companies will let one accident slide before hitting you with a surcharge with the catch being you have to be claim-free before the accident.
- Clubs and Organizations – Being a member of a qualifying organization could qualify you for a break on your next insurance statement.
- Service Members Pay Less – Having a family member in the military can result in better insurance rates.
- Seat Belts Save more than Lives – Drivers who require all occupants to fasten their seat belts can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
- Homeowners Savings – Just owning your own home can save a few bucks because maintaining a house is proof of financial responsibility.
Remember that some credits don’t apply to the whole policy. Most only reduce individual premiums such as collision or personal injury protection. So despite the fact that it appears all those discounts means the company will pay you, nobody gets a free ride. But any discount will lower the cost of your policy.
The diagram below shows the difference between Lincoln MKX insurance costs with and without discounts being applied to the rates. The price estimates are based on a male driver, no accidents, no driving violations, Ohio state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, homeowner, claim-free, and multi-car discounts applied.
Some of the insurance companies who might offer these discounts include:
When comparing rates, check with all the companies what discounts are available to you. All car insurance discounts might not be available to policyholders in Cincinnati.
Insurance coverage details
The premium information displayed next outlines estimates of coverage costs for Lincoln MKX models. Learning how policy premiums are calculated can be valuable when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Information does not factor in specific location which can affect auto insurance rates considerably.
Comparison of auto insurance rates by gender and age in Cincinnati
The example below compares Lincoln MKX insurance costs for male and female drivers. The data assumes no claims or driving citations, full physical damage coverage, $100 deductibles, drivers are not married, and no additional discounts are factored in.
Should you buy full coverage?
The example below shows the comparison of Lincoln MKX car insurance costs with full coverage and liability only. The costs are based on no accidents or driving violations, $250 deductibles, marital status is single, and no policy discounts are applied.
When to drop comprehensive and collision coverage
There is no definitive formula to delete physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s say your Lincoln MKX replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after the deductible is paid. If you are paying over $200 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some situations where removing full coverage is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not buy liability only.
Six Tips to Get Cheaper Cincinnati Insurance Premiums
An important part of buying insurance is that you know some of the things that help determine the price you pay for car insurance. When you understand what controls the rates you pay, this allows you to make good choices that can help you get big savings.
Your employer may affect rates – Occupational choices like fire fighters, air traffic controllers, and accountants usually pay the highest average rates due to high stress levels and lots of time spent at work. On the other hand, careers such as scientists, athletes and performers receive lower rates.
Long commutes cost more – The more you drive in a year the higher the price you pay to insure it. A lot of companies charge rates determined by how the vehicle is used. Cars and trucks that sit idle most of the time get more affordable rates than vehicles that are driven to work every day. An improperly rated MKX can result in significantly higher rates. It’s always a good idea to double check that your car insurance policy is showing annual mileage.
Premiums are high for teenagers – Teen drivers in Ohio are known to be inattentive when driving with friends therefore car insurance rates are much higher. If you’ve ever had to add a first-time driver to your car insurance policy can increase premiums substantially. Older, more experienced drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and get fewer tickets.
The following data assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
Responsible drivers have lower prices – Being a careful driver influences premium rates substantially. Having just one ticket could increase your next policy renewal forty percent or more. Drivers with clean records pay lower auto insurance prices as compared to those with violations. Drivers who have severe tickets such as DUI, reckless driving or excessive speeding may find that they have to to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to keep their license.
The example below shows how speeding tickets and fender-benders increase Lincoln MKX auto insurance costs for different age groups. The costs are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
Your credit rating is important – Having a good credit score is a big factor in calculating your premium rate. If your credit history is low, you may save money insuring your Lincoln MKX by repairing your credit. People that have high credit scores tend to file fewer claims as compared to drivers with poor credit.
Insure car and home with the same company – Most major car insurance companies allow lower prices to buyers who buy several policies from them, otherwise known as a multi-policy discount. Even with this discount applied, you may still want to compare Lincoln MKX rates in Cincinnati to make sure you are getting the best deal. Consumers may find better rates by splitting coverages up.
Lincoln MKX claim probability – Insurers include the past claim history for a vehicle when they set coverage costs for each model. Models that the data shows to have a higher amount or frequency of claims will have higher rates. The table below illustrates the historical loss data for Lincoln MKX vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, equals 100. Numbers that are below 100 indicate better than average losses, while values that are above 100 indicate more frequent losses or statistically larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKX 4dr 2WD||77||80||67||66||81||78|
|Lincoln MKX 4dr 4WD||86||91||92||76||79||87|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years