Having to pay for expensive Lincoln Mark LT insurance in Chicago can draw down your budget and make it hard to pay other bills. Performing a rate comparison is free, only takes a few minutes, and is a good way to lower your monthly bill.
It’s shocking but the vast majority of consumers kept their coverage with the same car insurance company for a minimum of four years, and about 40% of consumers have never compared rate quotes at all. Chicago drivers could pocket approximately $586 a year, but most undervalue the amount of savings they would get if they switched. Due to the large number of choices for buying cheap insurance for a Lincoln Mark LT in Chicago, it can be hard to find the lowest price insurer.
Finding the cheapest car insurance coverage in Chicago is easy if you know what you’re doing. If you are already insured or just want cheaper coverage, you will benefit by learning to buy cheaper car insurance without reducing protection. You just have to know the proper methods to compare price quotes from many companies at once.
Most companies make it easy to get prices for coverage directly from their websites. Obtaining pricing for Lincoln Mark LT insurance in Chicago is easy for anyone because you just enter the coverage amounts you desire as detailed in the form. Once you submit the form, their system collects your driving record and credit report and quotes a price based on many factors. This simplifies rate comparisons, and it’s absolutely necessary to get many rate quotes if you want to find the most affordable auto insurance rates.
In order to compare rates now, compare quotes from the companies shown below. If you have a policy now, it’s recommended you replicate the limits and deductibles exactly as they are listed on your policy. Doing this guarantees you will receive comparison quotes based on similar coverages.
The car insurance companies shown below provide price comparisons in Chicago, IL. If multiple providers are shown, it’s highly recommended you click on several of them to get a more complete price comparison.
Do you qualify for discounts on Lincoln Mark LT insurance in Chicago?
Insurance is not an enjoyable expense, but there could be available discounts to help bring down the price. A few discounts will automatically apply at quote time, but some need to be specially asked for prior to getting the savings.
- Paperless Signup – A few larger online companies will discount your bill up to fifty bucks just for signing your application online.
- Discount for Multiple Policies – If you have multiple policies and insure them both with the same insurance company you may save up to 20% and get you low cost Lincoln Mark LT insurance.
- Service Members Pay Less – Having a family member in the military could qualify you for better rates.
- Smart Student Discounts – Excelling in school may save as much as 25% on a Chicago auto insurance quote. Earning this discount can benefit you well after school through age 25.
- Driver Training Discounts – Taking part in a course teaching safe driver skills can save you 5% or more depending on where you live.
- Student Discount for Driver Training – Cut your cost by having your teen driver successfully take a driver’s education course in school or through a local driver safety program.
As a disclaimer on discounts, some credits don’t apply to all coverage premiums. A few only apply to the cost of specific coverages such as comp or med pay. So when the math indicates having all the discounts means you get insurance for free, nobody gets a free ride. Any qualifying discounts will bring down your policy cost.
Larger insurance companies and their possible discounts include:
- Travelers offers premium reductions for new car, continuous insurance, good student, save driver, driver training, early quote, and student away at school.
- 21st Century may include discounts for student driver, 55 and older, automatic seat belts, good student, air bags, defensive driver, and teen driver.
- State Farm may have discounts that include student away at school, Steer Clear safe driver discount, anti-theft, driver’s education, Drive Safe & Save, good driver, and passive restraint.
- GEICO includes discounts for five-year accident-free, defensive driver, federal employee, emergency military deployment, and anti-theft.
- SAFECO policyholders can earn discounts including anti-lock brakes, safe driver, bundle discounts, teen safety rewards, accident prevention training, and anti-theft.
- AAA has savings for multi-policy, good driver, AAA membership discount, pay-in-full, and education and occupation.
Before purchasing a policy, check with each company or agent to apply every possible discount. Some discounts may not apply to policyholders in every state. For a list of companies with significant discounts in Chicago, click here to view.
Here’s why auto insurance is not optional
Even though it’s not necessarily cheap to insure a Lincoln in Chicago, insuring your vehicle is required in Illinois but it also protects you in many ways.
First, almost all states have minimum liability requirements which means the state requires specific limits of liability insurance in order to get the vehicle licensed. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you took out a loan on your car, almost every bank will require you to have insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may buy a policy for your Lincoln at a much higher rate and force you to pay the higher premium.
Third, insurance protects both your Lincoln Mark LT and your assets. Insurance will pay for medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay for a defense attorney if anyone sues you for causing an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.
The benefits of having insurance outweigh the cost, especially if you ever need it. The average driver in Illinois is overpaying more than $800 each year so it’s important to compare rates at least once a year to ensure rates are competitive.
Car insurance agents near you
Many drivers just want to sit down with an agent and we recommend doing that Good agents are highly skilled in risk management and help you file claims. One of the benefits of comparing insurance prices online is that drivers can save money and get the best rates and still choose a local agent.
To find an agent, once you fill out this form (opens in new window), your coverage information is emailed to local insurance agents in Chicago who want to provide quotes for your auto insurance coverage. It’s much easier because you don’t need to even leave your home due to the fact that quote results will go directly to your email. If for some reason you want to get a comparison quote for a specific company, don’t hesitate to navigate to their website and fill out the quote form the provide.
Choosing the best provider requires you to look at more than just the quoted price. These are some questions you should get answers to.
- Do the companies they represent have a solid financial rating?
- Is the agent CPCU or CIC certified?
- Do they assist clients in filing claims?
- Which companies do they recommend if they are an independent agency?
- How long has their agency been in business in Chicago?
- How does the company pay claims for a total loss?
- What discounts might you be missing?
If you’re trying to find a local insurance agency, you must know there are a couple different types of agents and how they operate. Auto insurance agents can be described as either independent agents or exclusive agents. Both types of agents can insure your vehicles properly, but it’s worth mentioning the subtle differences because it can impact buying decisions.
Exclusive Insurance Agencies
Agents that choose to be exclusive can only provide one company’s prices such as American Family, State Farm, and Allstate. They usually cannot provide other company’s prices so if the price isn’t competitive there isn’t much they can do. Exclusive agents are well trained on what they offer which helps them sell insurance even at higher premiums.
The following are Chicago exclusive insurance agents who can help you get price quote information.
Independent Insurance Agents
Agents of this type are not employed by any specific company and that enables them to quote your coverage with any number of different companies enabling the ability to shop coverage around. If they find a lower price, the business is moved internally and that require little work on your part. If you need lower rates, we recommend you contact several independent agencies to get the best comparison.
The following are Chicago independent agencies that can give you comparison quotes.
After talking to the agent and getting positive feedback to any questions you may have and locked in a price quote, you may have found an insurance agent that meets the requirements to adequately provide auto insurance. But remember, you are entitled to cancel your coverage any time you want so don’t assume you’re contractually obligated to any specific company for any length of time.