Are you drained from paying out the nose to pay your auto insurance bill each month? You are no different than the majority of other consumers in Colorado.
Shockingly, the vast majority of drivers have purchased from the same company for at least four years, and nearly 40% of drivers have never compared quotes from other companies. American insurance shoppers could save as much as 47% each year, but most undervalue the large savings they would see if they replace their high priced policy. Since consumers have many options when it comes to auto insurance, it can be hard to locate the best company.
Companies offering Lincoln MKX insurance in Colorado
The companies shown below offer price comparisons in Denver, CO. If multiple companies are listed, we recommend you get rate quotes from several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle garaging location which can modify premiums greatly.
Full coverage rates compared to liability-only
The illustration below examines Lincoln MKX insurance costs when comparing full coverage to liability only. The data is based on no claims or driving citations, $500 deductibles, married male driver, and no discounts are taken into consideration.
Should you buy full coverage or liability only?
There is no set rule for phasing out comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let's say your Lincoln MKX replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after paying your deductible. If you are paying more than $500 annually for full coverage, then it might be time to buy liability only.
There are a few situations where only buying liability is not financially feasible. If you haven't paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.
Higher deductibles save money
The chart below illustrates how choosing a deductible and can affect Lincoln MKX insurance premiums for each age group. Data assumes a married male driver, comp and collision included, and no discounts are taken into consideration.
Lincoln MKX insurance rates: Men versus women
The information below illustrates the difference between Lincoln MKX premium costs for male and female drivers. The rate quotes are based on no claims, a clean driving record, comp and collision included, $500 deductibles, marital status is single, and no discounts are factored in.
Verify you're applying every discount
Companies do not list all discounts very well, so we researched a few of the more common and the harder-to-find discounts that may be available. If you do not double check each discount you deserve, you're paying more than you need to.
- Bundled Policy Discount - When you combine your auto and homeowners insurance with the same insurance company you could earn a discount of up to 20% and get you low cost Lincoln MKX insurance.
- Discount for Life Insurance - Select insurance companies reward you with a lower price if you buy life insurance from them.
- No Accidents - Insureds who avoid accidents and claims pay much less in comparison to drivers who are more careless.
- Military Deployment Discount - Being on active deployment in the military may qualify for rate reductions.
- Defensive Driving Course - Taking a course teaching driver safety skills could save 5% or more and easily recoup the cost of the course.
- Payment Method - If paying your policy premium upfront rather than paying monthly you can avoid monthly service charges.
A little disclaimer on discounts, many deductions do not apply the the whole policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when it seems like you would end up receiving a 100% discount, company stockholders wouldn't be very happy.
Companies and their offered discounts are included below.
- GEICO policyholders can earn discounts including membership and employees, multi-policy, daytime running lights, multi-vehicle, anti-theft, and seat belt use.
- Mercury Insurance may include discounts for anti-theft, multi-car, ease of repair, good student, low natural disaster claims, and annual mileage.
- Farmers Insurance has discounts for good student, youthful driver, switch companies, early shopping, multi-car, mature driver, and business and professional.
- Auto-Owners Insurance offers discounts for air bags, mature driver, company car, paperless, and safe driver.
- Liberty Mutual discounts include multi-car, safety features, good student, exclusive group savings, hybrid vehicle, and multi-policy.
- SAFECO may offer discounts for drive less, homeowner, anti-lock brakes, anti-theft, and bundle discounts.
- Progressive offers premium reductions for online quote discount, online signing, multi-vehicle, multi-policy, continuous coverage, homeowner, and good student.
- USAA may have discounts that include driver training, defensive driver, vehicle storage, multi-vehicle, annual mileage, military installation, and safe driver.
Before you buy a policy, ask every insurance company which discounts you qualify for. Some discounts may not apply in Denver. If you would like to see a list of companies with the best Lincoln MKX insurance discounts in Colorado, click here to view.
Car insurance is unique, just like you
When it comes to the right insurance coverage, there really is no one size fits all plan. Every insured's situation is different.
For example, these questions may help you determine if your insurance needs could use an agent's help.
- Who is covered when they drive my Lincoln MKX?
- Do I have coverage for damage caused while driving under the influence?
- Do I have coverage when making deliveries for my home business?
- Should I buy full coverage?
- Does liability extend to a camper or trailer?
- Which companies are cheaper for teen drivers?
- What if an uninsured driver hits me?
If you don't know the answers to these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.
Get rate quotes but buy from a local Denver insurance agent
A lot of people prefer to visit with an insurance agent and that is OK! Most agents are highly skilled in risk management and help submit paperwork. A nice benefit of getting online price quotes is you can get cheap insurance quotes and also buy local.
To help locate an agent, after submitting this short form, the coverage information is submitted to participating agents in Denver who can give free rate quotes to get your business. It makes it easy because there is no need to contact any insurance agencies as quotes are delivered to you instantly. If you have a need to quote rates from a particular provider, feel free to jump over to their website and complete a quote there.
Picking an provider requires you to look at more than just a low price. The questions below may impact your decision as well.
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Which family members are covered?
- Do you need full coverage on every vehicle?
- Is the agent and/or agency licensed to do business in Colorado?
- Will one accident increase rates?
- Do they reduce claim amounts on high mileage vehicles?
- Is there a Errors and Omissions policy in force?
- Are they in the agency full-time?
When finding a local insurance agency, there are two different types of agents and how they are distinctly different. Insurance agencies may be either independent (non-exclusive) or exclusive. Either type can insure your vehicles properly, but it's a good idea to understand the differences since it can impact which type of agent you select.
Exclusive Insurance Agencies
Exclusive insurance agents can only quote rates from one company and examples are Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agencies are unable to place coverage with different providers so you need to shop around if the rates are high. Exclusive agencies are trained well in insurance sales which helps them compete with independent agents.
The following is a short list of exclusive insurance agencies in Denver who can help you get price quote information.
Independent Agencies or Brokers
Independent agencies do not work for one specific company so as a result can place your coverage through lots of different companies depending on which coverage is best. If premiums increase, they simply move the coverage in-house which requires no work on your part. If you need cheaper insurance rates, we recommend you get several quotes from several independent insurance agents to get the most accurate price comparison.
Below are Denver independent agencies who can help you get comparison quotes.
Once you have answers to your satisfaction for all questions you ask as well as the cheapest Lincoln MKX insurance in Denver quotes, it's possible that you found an insurance agency that can be trusted to service your policy. Just be aware that consumers can terminate coverage when you choose so don't feel you are locked into any particular company indefinitely.
Are insurance companies telling the truth?
Consumers in Colorado constantly see and hear ads for the lowest price insurance from companies such as GEICO, State Farm and Progressive. All the ads advertise the message that people will save just by moving your insurance coverage to their company.
How do they all charge you less for car insurance? Just pay attention to how they say it.
All companies quote the lowest rates for the type of customer that will most likely be profitable. One example of a profitable insured may need to be married and over the age of 30, is a homeowner, and drives less than 7,500 miles a year. Any person who fits that profile will most likely get cheap car insurance rates and is almost guaranteed to save quite a bit of money when switching.
Insureds who don't qualify for this ideal profile will probably have to pay a higher rate and this can result in the customer buying from a different company. If you listen to the ad wording, they say "customers that switch" not "everybody who quotes" save that kind of money. This is how insurance companies can confidently lure you into getting a quote. This really emphasizes why you need to compare rate quotes every year. It's impossible to know which insurance company will fit you best based on your risk profile.
Quote. Compare. Save.
As you prepare to switch companies, it's not a good idea to buy less coverage just to save a little money. In many cases, someone dropped collision coverage and discovered at claim time that it was a big mistake. Your focus should be to find the BEST coverage at the best cost and still be able to protect your assets.
Insureds change insurance companies for a variety of reasons including extreme rates for teen drivers, poor customer service, denial of a claim or high prices. No matter why you want to switch, choosing a new insurance company can be less work than you think.
The cheapest Lincoln MKX insurance in Denver can be sourced on the web in addition to many Denver insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some companies may not provide rates over the internet and most of the time these smaller providers provide coverage only through independent agencies.
Even more information is available at these sites:
- Anti-Lock Brake FAQ (iihs.org)
- What is the Cheapest Auto Insurance in Aurora, Colorado? (FAQ)
- Who Has Affordable Colorado Auto Insurance Rates for a Toyota Tacoma? (FAQ)
- Distracted Driving (Insurance Information Institute)
- Prom Night Tips for Teen Drivers (State Farm)
- Collision Insurance Coverage (Nationwide)