How many years has it been since you compared the cheapest Lincoln MKS insurance in Colorado Springs? Searching for the cheapest insurance for a Lincoln MKS in Colorado can be a lot of work, but you can use these tips to find lower rates.
There is a better way to compare car insurance rates so we're going to tell you the proper way to price shop coverage for a Lincoln and obtain the lowest possible price from Colorado Springs insurance agents and online providers.
Finding quotes for the best-priced protection in Colorado Springs is not as hard as you may think. If you have a current insurance policy or just want cheaper rates, you can use this information to buy cheaper insurance without reducing coverage. Comparison shoppers just need to know the quickest way to get comparison rates from multiple carriers.
Get cheaper rates by taking advantage of discounts
Some providers don't always advertise all discounts in a way that's easy to find, so the next list breaks down both the well known and also the lesser-known credits available to lower your premiums when you buy Colorado Springs auto insurance online.
- Driver Training Discounts - Participating in a defensive driving class can save you 5% or more if you qualify.
- Bundle and Save - If you insure your home and vehicles and insure them both with the same insurance company you may save up to 20% off your total MKS insurance premium.
- Active Service Discounts - Being deployed in the military could trigger a small discount.
- Distant Student - Older children who are enrolled in a college that is more than 100 miles from Colorado Springs and do not take a car to college can receive lower rates.
- Multiple Vehicles - Buying coverage for primary and secondary vehicles on the same insurance policy may reduce the rate for each vehicle.
- Good Student - Being a good student may save as much as 25% on a Colorado Springs auto insurance quote. This discount can apply until age 25.
Policy discounts save money, but many deductions do not apply to your bottom line cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. So even though you would think having all the discounts means you get insurance for free, company stockholders wouldn't be very happy. Any qualifying discounts will help reduce the cost of coverage.
Car insurance companies that may have many of the previously listed discounts include:
If you need lower rates, check with each insurance company which discounts can lower your rates. Some discounts might not apply in your state. If you would like to see a list of providers that have a full spectrum of discounts in Colorado Springs, follow this link.
The following companies are our best choices to provide free rate quotes in Colorado. If more than one company is shown, we suggest you visit two to three different companies to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKS AWD 4-Dr Sedan||$262||$514||$280||$16||$84||$1,156||$96|
|MKS 4-Dr Sedan||$240||$390||$392||$24||$118||$1,164||$97|
|MKS Ecoboost AWD 4-Dr Sedan||$382||$770||$308||$18||$92||$1,570||$131|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Table data does not factor in specific location which can impact premiums noticeably.
Auto insurance cost for men versus women
The example below shows the comparison of Lincoln MKS car insurance rates for male and female drivers. The data is based on no violations or accidents, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are taken into consideration.
Full coverage rates vs. liability-only
The diagram below visualizes the comparison of Lincoln MKS annual premium costs with liability coverage only compared to full coverage. The rate quotes are based on no tickets, no at-fault accidents, $1,000 deductibles, married male driver, and no discounts are applied to the premium.
When to drop comp and collision
There is no clear-cut rule for eliminating comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let's pretend your Lincoln MKS book value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying your policy deductible. If you are currently paying more than $300 annually for full coverage, then you may need to consider dropping full coverage.
There are some cases where dropping physical damage coverage is not recommended. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.
Tickets and at-fault accidents raise rates
The example below highlights how traffic violations and at-fault collisions drive up Lincoln MKS auto insurance rates for different age groups. The prices are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are applied to the premium.
How to Lower Your Insurance Prices
Many factors are taken into consideration when you quote your car insurance policy. Some of the criteria are obvious such as your driving record, but other criteria are less obvious like your vehicle usage or your financial responsibility.
Good drivers pay better costs - Drivers with clean records pay less for auto insurance compared to drivers with tickets. Even one driving citation can increase the cost of insurance twenty percent or more. Drivers who have license-revoking violations like DUI or reckless driving may find that they have to to file a proof of financial responsibility form (SR-22) with their state in order to keep their license.
Credit history impact auto insurance rates - Your credit score can be an important factor in your rate calculation. Drivers with high credit scores tend to be less risk to insure than drivers who have worse credit. Therefore, if your credit rating could use some work, you may save money insuring your Lincoln MKS if you improve your credit rating.
Liability insurance is peace of mind - Your policy's liability coverage will provide protection if you are responsible for causing damage or personal injury in an accident. Your liability coverage provides you with a defense in court to attempt to prove you were not liable. Liability insurance is quite affordable compared to physical damage coverage, so drivers should buy more than the minimum limits required by law.
Do you know your comp and collision deductibles? - Deductibles for physical damage state the amount of money you are willing to pay if you file a covered claim. Physical damage insurance, also called comprehensive and collision insurance, covers damage that occurs to your car. Some examples of claims that would be covered are a windshield broken by a bird, collision with a deer, and having a roll-over accident. The more you're willing to pay, the lower your rates will be.
Know your vehicle's crash test rating - Cars with five star safety ratings tend to be cheaper to insure. The safest vehicles reduce occupant injuries and any reduction in injury severity translates into fewer and smaller insurance claims and thus lower rates.
Lincoln MKS claim data - Car insurance companies include the past claim trends for vehicles when determining insurance rates. Models that the data determines to have a trend towards higher claims will have higher premium rates. The table below demonstrates the loss history for Lincoln MKS vehicles.
For each coverage type, the loss probability for all vehicles, regardless of make or model, is represented as 100. Percentage numbers below 100 are indicative of better than average losses, while values that are 100 or greater indicate more frequent claims or larger claims.
Lincoln MKS Insurance Claim Statistics
|Specific Lincoln Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKS 4dr 2WD||121||90||140||78||103|
|Lincoln MKS 4dr 4WD||135||89||204||89|
|Lincoln MKS Ecoboost 4dr 4WD||139||93||153||87|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance agents near you
Certain consumers prefer to sit down and talk to an agent and that can be a smart move Good agents can point out coverage gaps and help in the event of a claim. One of the best bonuses of comparing rate quotes online is that you can obtain lower rates but also keep your business local. Buying from local agencies is important especially in Colorado Springs.
After filling out this quick form, your insurance data gets sent to participating agents in Colorado Springs who want to provide quotes for your coverage. There is no reason to search for any insurance agencies because quoted prices will be sent to your email. In the event you want to quote rates from a specific insurance company, feel free to find their quoting web page to submit a rate quote request.
How to choose the best car insurance agent in Colorado Springs
When searching for an insurance agent, you need to know there are two different agency structures from which to choose. Colorado Springs agents are considered either exclusive or independent agents depending on their company appointments. Either type can properly insure your vehicles, but it's worth learning why they differ because it may have an impact on buying decisions.
Independent Car Insurance Agents (or Brokers)
These type of agents are not employed by any specific company so as a result can place your coverage through lots of different companies and find the cheapest car insurance rates. If they find a lower price, they simply move the coverage in-house and that require little work on your part.
When comparison shopping, it's a good idea to get quotes from several independent agencies to maximize your price options. Most can insure with companies you've never heard of that many times have cheaper rates.
Featured below are Colorado Springs independent insurance agents that can give you comparison quotes.
- Six and Geving Insurance Inc
3630 Sinton Rd # 200 - Colorado Springs, CO 80907 - (719) 590-9990 - View Map
- ALINK Insurance Services- Colorado Springs Location
2407 W Colorado Ave - Colorado Springs, CO 80904 - (719) 473-6262 - View Map
- Pikes Peak Insurance Agency
2306 N Powers Blvd #120 - Colorado Springs, CO 80915 - (719) 591-4500 - View Map
Exclusive Car Insurance Agents
Exclusive insurance agents can only write with one company like Farmers Insurance, State Farm, or Allstate. These agents are unable to compare other company's rates so always compare other rates. Exclusive agencies are trained well on their products and sales techniques which helps overcome the inability to quote other rates. A lot of people buy from the same agent for years mainly due to the brand rather than low price.
Listed below are exclusive agents in Colorado Springs that can give you rate quotes.
- American Family Insurance - Diane Christensen
1957 W Uintah St - Colorado Springs, CO 80904 - (719) 477-1636 - View Map
- Allstate Insurance: Cally O'Donnell
3993 Academy Blvd N - Colorado Springs, CO 80917 - (719) 596-8800 - View Map
- John Youngdahl - State Farm Insurance Agent
600 N Tejon St - Colorado Springs, CO 80903 - (719) 475-8787 - View Map
Choosing the best insurance agency shouldn't rely on just the premium amount. These are some valid questions you should ask.
- If independent agents, which companies do they recommend?
- Did they already check your driving record and credit reports?
- Can they give you a list of client referrals?
- Does the agency have a current Errors and Omissions policy?
- Do they receive special compensation for putting your coverage with one company over another?
- Is working in the agency their full-time job?
After receiving satisfactory answers for all questions you ask and a low price estimate, most likely you have located a car insurance agent that is reputable and can service your policy. Just understand that you have the power to terminate your policy at any time so never assume you are locked into a policy for a certain time period.
Why you need insurance for your Lincoln vehicle
Despite the high cost, buying car insurance is required for several reasons.
- Almost all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability protection if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a lien on your Lincoln, most banks will stipulate that you buy insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may have to buy a policy to insure your Lincoln for a much higher rate and force you to reimburse them much more than you were paying before.
- Car insurance protects both your Lincoln and your assets. It also can pay for all forms of medical expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, will also pay attorney fees if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of buying car insurance greatly outweigh the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver overpays more than $830 a year so shop around every year to save money.
Auto insurance savings summarized
When trying to cut insurance costs, never reduce coverage to reduce premium. In too many instances, someone dropped physical damage coverage only to regret that the savings was not a smart move. Your strategy should be to buy a smart amount of coverage at a price you can afford but still have enough coverage for asset protection.
People switch companies for any number of reasons including being labeled a high risk driver, extreme rates for teen drivers, delays in paying claims and denial of a claim. No matter why you want to switch, finding the right auto insurance provider is less work than it seems.
There are still a few companies who do not offer price quotes online and these regional carriers prefer to sell through local independent agents. The cheapest Lincoln MKS insurance in Colorado Springs is attainable online and from local agencies, so you need to compare both to have the best selection.
More information is located on the following sites:
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Who Has the Cheapest Colorado Auto Insurance Quotes for a Ford Edge? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Dodge Journey in Colorado? (FAQ)
- What Auto Insurance is Cheapest for Nurses in Colorado? (FAQ)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Choosing an Insurance Company (Insurance Information Institute)
- Electronic Stability Control FAQ (iihs.org)