Consumers who are new to the process of shopping for insurance coverage online are likely to discover sourcing low cost Lincoln MKT insurance is quite challenging.
How to buy low-cost Lincoln MKT insurance in Oklahoma City
The recommended way to get budget auto insurance rates is to start comparing prices regularly from companies who provide car insurance in Oklahoma City.
- Take a little time to learn about individual coverages and the things you can control to drop your rates. Many things that are responsible for high rates such as your driving record and a negative credit rating can be eliminated by making lifestyle changes or driving safer. Continue reading for the details to help keep prices low and get additional discounts that may have been overlooked.
- Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from a single company like GEICO or State Farm, while independent agents can give you price quotes for many different companies.
- Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate and buy the policy, make sure there is no lapse in coverage.
- Provide notification to your current agent or company to cancel the current policy. Submit a signed application and payment for your new coverage. Immediately upon receiving it, put the new certificate of insurance somewhere easily accessible.
A good piece of advice is to compare the same liability limits and deductibles on each quote and and to get prices from all possible companies. Doing this ensures an accurate price comparison and maximum price selection.
A recent insurance study revealed that most insurance policyholders in Oklahoma have remained with the same insurance company for at least four years, and virtually 40% of consumers have never compared rates from other carriers. Most drivers in America could save as much as $860 each year by just comparing rate quotes, but they don’t understand how simple it is to go online and compare rates.
It’s a good idea to compare prices as often as possible due to the fact that insurance prices tend to go up over time. If you had the best deal on Lincoln MKT insurance in Oklahoma City a couple years back the chances are good that you can find a lower rate quote today. There is too much inaccurate information about MKT insurance on the web, but by reading this article, you’re going to learn some great ideas on how to slash your insurance rates in Oklahoma City.
If you are paying for car insurance now, you will be able to get lower rates using the tips covered below. These techniques will let you in on the best way to quote coverages and some tips to save money. Although Oklahoma consumers must comprehend how big insurance companies determine what you pay and use it to find better rates.
Low Cost companies for Lincoln MKT insurance
The following companies can provide price quotes in Oklahoma. If the list has multiple companies, we suggest you visit as many as you can in order to get a fair rate comparison.
Coverage analysis
The rate table shown next outlines different prices for Lincoln MKT models. Having a better understanding of how insurance quotes are established can help customers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $404 | $554 | $664 | $40 | $198 | $1,860 | $155 |
| MKT 3.7 AWD | $446 | $638 | $664 | $40 | $198 | $1,986 | $166 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rates do not factor in vehicle location which can influence insurance rates significantly.
Policy deductible comparison
When comparing insurance rates, the most common question is how high should the physical damage deductibles be. The figures shown below illustrate the differences in price when you choose different insurance deductibles. The first rate table uses a $100 deductible and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $486 | $822 | $506 | $30 | $152 | $2,021 | $168 |
| MKT 3.7 AWD | $536 | $946 | $506 | $30 | $152 | $2,195 | $183 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $354 | $554 | $506 | $30 | $152 | $1,596 | $133 |
| MKT 3.7 AWD | $390 | $638 | $506 | $30 | $152 | $1,716 | $143 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Premium amounts do not factor in Oklahoma City location which can decrease or increase price quotes substantially.
Based on these figures, using a $100 deductible could cost the average driver approximately $38 more each month or $456 each year than requesting the higher $500 deductible. Since you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to average at a minimum 11 months between claim filings, you would save money if you decide on a higher deductible. Below is an example of how this determination is made.
| Average monthly premium for $100 deductibles: | $176 |
| Average monthly premium for $500 deductibles (subtract): | – $138 |
| Monthly savings from raising deductible: | $38 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $38 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 11 months |
An important sidenote is that a higher deductible means you pay more out-of-pocket if you have a claim. That will necessitate some extra savings in order to pay the higher deductible.
Cost comparison with and without full coverage
The illustration below visualizes the comparison of Lincoln MKT car insurance rates with liability coverage only compared to full coverage. The prices are based on no accidents or driving violations, $500 deductibles, drivers are not married, and no additional discounts are factored in.
When to stop paying for full coverage
There is no exact rule for eliminating physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s pretend your Lincoln MKT settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying your policy deductible. If you are paying over $200 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are a few situations where removing full coverage is not advised. If you haven’t paid off your loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.
Save a ton by applying discounts
Car insurance companies don’t always list their entire list of discounts very well, so below is a list a few of the more well known and the harder-to-find credits available to you. If you do not double check each discount possible, it’s possible you qualify for a lower rate.
- Oklahoma City Homeowners Discount – Owning a home in Oklahoma City may earn you a small savings because owning a home is proof of financial responsibility.
- Discounts for Responsible Drivers – Drivers who avoid accidents can save up to 40% or more on their Oklahoma City car insurance quote as compared to drivers with claims.
- Good Students Pay Less – This discount can save 20 to 25%. The good student discount can last until age 25.
- Anti-theft System – Cars and trucks equipped with anti-theft or alarm systems help deter theft and that can save you a little bit as well.
- Seat Belt Discounts – Drivers who require all occupants to wear their seat belts can save a little off PIP or medical payments premium.
- Drive Less and Save – Keeping the miles down on your Lincoln may allow you to get discounted rates on garaged vehicles.
- Distant Student – Older children who attend college more than 100 miles from Oklahoma City without a vehicle on campus could get you a discount.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to the entire cost. Most only cut specific coverage prices like liability and collision coverage. Just because it seems like you could get a free auto insurance policy, nobody gets a free ride. Any amount of discount will cut the amount you pay for coverage.
The information below shows the difference between Lincoln MKT insurance premiums with and without discounts applied to the policy premium. The information is based on a male driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, homeowner, multi-car, multi-policy, and claim-free discounts applied.
A few of the larger companies and their offered discounts are included below.
- Mercury Insurance may have discounts that include professional/association, type of vehicle, good driver, location of vehicle, age of vehicle, multi-policy, and good student.
- Farmers Insurance has savings for youthful driver, bundle discounts, mature driver, distant student, teen driver, and multi-car.
- Farm Bureau may include discounts for renewal discount, multi-policy, multi-vehicle, good student, 55 and retired, youthful driver, and driver training.
- State Farm may offer discounts for safe vehicle, good driver, multiple autos, student away at school, driver’s education, and accident-free.
- Allstate has discounts for anti-lock brakes, EZ pay plan discount, eSmart discount, premier discount, early signing, new car, and 55 and retired.
- GEICO offers premium reductions for federal employee, anti-theft, good student, anti-lock brakes, multi-vehicle, and seat belt use.
Before you buy a policy, ask every prospective company which discounts you qualify for. Some of the earlier mentioned discounts might not apply in Oklahoma City.
Don’t I need to get advice from a local insurance agent?
Many people still like to buy from a local agent and doing so can bring peace of mind A good thing about comparing car insurance online is the fact that drivers can get better rates and also buy local.
After completing this short form, the coverage information is submitted to agents in your area who will give you quotes for your coverage. There is no reason to find an agent since rate quotes are delivered straight to your inbox. You can find better rates and a licensed agent to work with. If you want to get a rate quote from a particular provider, you just need to go to their quote page and fill out their quote form.
Selecting an company is decision based upon more than just the bottom line cost. Any agent in Oklahoma City should be willing to answer these questions.
- Will their companies depreciate repairs to your car based on the mileage?
- Do they have designations such as AIC, CPCU, or CIC?
- How are they compensated?
- Can you choose the body shop in case repairs are needed?
- If you have an accident, will your rates go up?
- Are they full-time agents?
- How long have they worked with personal auto insurance coverage?
- Which company do they place the most coverage with?
Pick the best car insurance agent in Oklahoma City for you
When finding a reputable insurance agent or broker, it’s important to understand the types of agencies from which to choose. Agents are classified as either independent agents or exclusive agents.
Exclusive Insurance Agencies
These agents normally can only provide a single company’s rates such as Allstate, Farmers Insurance or State Farm. Exclusive agencies are unable to compare other company’s rates so they really need to provide good service. Exclusive insurance agents are usually well trained on the products they sell which helps overcome the inability to quote other rates. Drivers often purchase coverage from exclusives primarily because of loyalty to the company rather than having the cheapest rates.
Listed below are Oklahoma City exclusive insurance agents that are able to give price quote information.
- Becky Stevens – State Farm Insurance Agent
7105 W Hefner Rd – Oklahoma City, OK 73162 – (405) 722-0004 – View Map - Matt Pryor – State Farm Insurance Agent
2229 NW 138th St d – Oklahoma City, OK 73134 – (405) 749-8100 – View Map - Allstate Insurance: Gerald Jeter
11723 S Western Ave – Oklahoma City, OK 73170 – (405) 692-2411 – View Map
Independent Car Insurance Agencies
Agents of this type are not restricted to one company and that allows them to write policies with a variety of different insurance companies and find the cheapest rate. To move your coverage to a new company, the agent simply finds a different carrier which is easy for the insured.
When comparison shopping, we highly recommend that you include rate quotes from several independent agencies to have the best price comparison. Many independent agencies also insure through smaller regional carriers that may have much lower rates than larger companies.
Listed below are Oklahoma City independent insurance agencies that are able to give price quote information.
- Anderson Insurance
10325 Greenbriar Pl – Oklahoma City, OK 73159 – (405) 794-9500 – View Map - Oklahoma Insurance Center Inc
538 E Memorial Rd – Oklahoma City, OK 73114 – (405) 608-4422 – View Map - Sherman-Hume
1225 W Britton Rd – Oklahoma City, OK 73114 – (405) 842-2377 – View Map
Once you have received good answers to any questions you have as well as a price you’re happy with, it’s a good possibility that you have found an insurance agent that is professional and can service your policy.
How to find a good Oklahoma auto insurance company
Choosing the best company can be challenging considering how many different companies sell coverage in Oklahoma City. The ranking information listed below could help you pick which providers you want to consider when comparing rate quotes.
Top 10 Oklahoma City Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
Top 10 Oklahoma City Car Insurance Companies Ranked by Claims Service
- Travelers
- Nationwide
- Allstate
- State Farm
- Liberty Mutual
- GEICO
- American Family
- Esurance
- Titan Insurance
- AAA Insurance
Cheaper coverage is out there
You just learned many tips how you can find lower-cost Lincoln MKT insurance in Oklahoma City. It’s most important to understand that the more companies you get premium rates for, the higher your chance of finding cheaper Oklahoma City car insurance quotes. You may even be surprised to find that the biggest savings come from some of the lesser-known companies.
Insureds leave their current company for a number of reasons such as delays in responding to claim requests, lack of trust in their agent, not issuing a premium refund or poor customer service. Whatever your reason, choosing a new insurance company can be easy and end up saving you some money.
When buying insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are many occasions where an insured cut uninsured motorist or liability limits only to find out they didn’t purchase enough coverage. Your objective should be to find the BEST coverage at the lowest possible cost while still protecting your assets.
Steps to saving on Lincoln MKT insurance in Oklahoma City
The most effective way to get more affordable auto insurance rates is to start doing an annual price comparison from insurance carriers that sell auto insurance in Oklahoma City.
Step 1: Spend some time learning about auto insurance and the things you can control to keep rates low. Many rating factors that result in higher rates such as speeding tickets, careless driving and a less-than-favorable credit history can be rectified by improving your driving habits or financial responsibility.
Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO or Farmers Insurance, while agents who are independent can give you price quotes from multiple sources.
Step 3: Compare the quotes to your current policy premium and determine if there is any savings. If you can save some money and buy the policy, make sure there is no coverage gap between policies.
Step 4: Provide proper notification to your current company to cancel your current policy and submit a completed policy application and payment for the new policy. Immediately keep your new certificate verifying coverage in your vehicle’s glove compartment or console.
An essential thing to point out is that you’ll want to make sure you compare similar deductibles and liability limits on every quote request and and to compare every insurance company. Doing this provides the most accurate price comparison and the most accurate and complete price analysis.
For more information, take a look at these articles:
- Airbag FAQ (iihs.org)
- How Much is Auto Insurance for Drivers Over Age 60 in Oklahoma City? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for 17 Year Olds in Oklahoma City? (FAQ)
- What Auto Insurance is Cheapest for 18 Year Olds in Oklahoma City? (FAQ)
- Who Has Affordable Oklahoma City Auto Insurance for College Graduates? (FAQ)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Auto Insurance FAQ (Farmers Insurance)
- Young Drivers: The High Risk Years Video (iihs.org)