I can’t think of anyone who enjoys paying for car insurance, particularly when their premiums are through the roof.
A study showed that most car insurance buyers have stayed with the same insurance company for four years or more, and almost 40% of drivers have never compared rate quotes at all. With the average premium in Illinois being $1,498, drivers could save 40% every year, but most just don’t grasp the amount of money they would save if they switch to a new company. Drivers have many insurers to buy insurance from, and although it’s nice to be able to choose, it makes it harder to locate the cheapest rates for Lincoln MKT insurance in Chicago.
Consumers need to do price comparisons periodically since insurance prices tend to go up over time. Even if you got the lowest rates on Lincoln MKT insurance in Chicago two years ago there is a good chance you can find better rate quotes now. Block out anything you think you know about car insurance because you’re going to get a crash course in the proper way to lower your annual insurance bill.
Discounts for cheaper car insurance quotes
Car insurance is not cheap, but there could be available discounts that could help you make your next renewal payment. Some discounts apply automatically when you complete an application, but lesser-known reductions have to be asked for prior to receiving the credit. If you do not double check each discount you qualify for, you are just wasting money.
- ABS and Traction Control Discounts – Cars, trucks, and SUVs with anti-lock braking systems are much safer to drive and therefore earn up to a 10% discount.
- Early Signing – Select larger companies give a discount for switching policies before your current MKT insurance policy expires. You may see this discount when you get Chicago car insurance quotes online.
- Pay Upfront and Save – If you can afford to pay the entire bill instead of paying each month you could save 5% or more.
- Chicago Homeowners Discount – Owning a home in Chicago can get you a discount because of the fact that having a home means you have a higher level of financial diligence.
- Online Discount – A few car insurance companies will give a small break shop Chicago car insurance over the internet.
- Defensive Driving Course – Taking time to complete a class that teaches driver safety techniques is a good idea and can lower rates and easily recoup the cost of the course.
- Anti-theft System – Vehicles that have factory alarm systems and tracking devices can help prevent theft and will qualify for a discount on a Chicago car insurance quote.
- Employee of Federal Government – Being employed by or retired from a federal job can earn a discount up to 10% with select insurance companies.
- Accident Forgiveness Coverage – Not a discount per se, but a handful of insurance companies will forgive one accident without raising rates with the catch being you have to be claim-free for a particular time prior to the accident.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them enroll and complete driver’s education in high school.
It’s important to understand that some of the credits will not apply to the entire policy premium. Most only reduce specific coverage prices like liability and collision coverage. Despite the appearance that all the discounts add up to a free policy, that’s just not realistic.
Popular car insurance companies and their offered discounts can be read below.
- State Farm policyholders can earn discounts including good student, defensive driving training, student away at school, Steer Clear safe driver discount, driver’s education, and anti-theft.
- GEICO may include discounts for defensive driver, five-year accident-free, multi-policy, driver training, and daytime running lights.
- Progressive offers discounts including good student, online quote discount, online signing, multi-policy, and continuous coverage.
- 21st Century may offer discounts for driver training, teen driver, good student, 55 and older, automatic seat belts, theft prevention, and air bags.
- American Family has discounts for good student, accident-free, early bird, TimeAway discount, air bags, and good driver.
- The Hartford has savings for anti-theft, air bag, good student, bundle, defensive driver, and driver training.
- AAA offers premium reductions for good student, good driver, education and occupation, anti-theft, multi-car, and AAA membership discount.
Before buying, ask each company or agent to give you their best rates. Some of the earlier mentioned discounts might not apply in Chicago. If you would like to choose from a list of insurers who offer cheap Lincoln MKT insurance quotes in Illinois, click this link.
Most of the larger companies provide price estimates directly from their websites. Comparing prices online for Lincoln MKT insurance in Chicago is possible for anyone because it’s just a matter of typing in the amount of coverage you want into the quote form. When complete, the company’s rating system orders information on your driving record and credit history and returns pricing information. The ability to get online price quotes for Lincoln MKT insurance in Chicago streamlines rate comparisons, and it’s necessary to have as many quotes as possible if you are searching for the best possible rates on auto insurance.
In order to find out how much you can save on auto insurance, visit the companies below or click here to submit a quote request to multiple companies at once. If you have a policy now, it’s recommended you duplicate your coverages identical to your current policy. This guarantees you will have an apples-to-apples comparison using the same coverage and limits.
The auto insurance companies shown below are our best choices to provide price quotes in Illinois. If multiple companies are listed, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$220||$406||$284||$16||$84||$1,010||$84|
|MKT 3.7 AWD||$220||$364||$300||$18||$90||$992||$83|
|Get Your Own Custom Quote Go|
Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rate quotes do not factor in vehicle location which can increase or decrease prices noticeably.
Comparison of policy deductibles
The chart below shows how choosing a deductible and can raise or lower Lincoln MKT insurance prices for different insured age categories. The premiums are based on a single male driver, full physical damage coverage, and no discounts are factored in.
How violations and accidents impact rates
The information below illustrates how speeding tickets and fender-benders can impact Lincoln MKT insurance prices for each different age category. The information is based on a single male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
Male drivers versus female drivers
The information below shows the comparison of Lincoln MKT auto insurance rates for male and female drivers. The costs are based on a clean driving record, no claims, full physical damage coverage, $250 deductibles, drivers are single, and no policy discounts are applied.
Lincoln MKT Insurance Rate Factors
A large part of saving on auto insurance is knowing the different types of things that help calculate the level of your policy premiums. When you know what positively or negatively determines premiums, this enables informed choices that could help you find cheaper rates. Lots of factors are taken into consideration when you get a price on insurance. Some are pretty understandable like an MVR report, but some are not quite as obvious such as your credit history or your commute time.
The list below includes just a few of the factors utilized by car insurance companies to help set your rate level.
- Teenagers vs. mature drivers – Inexperience drivers are statistically proven to be careless and easily distracted when at the wheel of a vehicle so auto insurance rates are higher. Older insureds are more cautious drivers, cause fewer claims and accidents, and receive fewer citations.
- Save money with high credit – Your credit rating can be an important factor in determining what you pay for auto insurance. So if your credit history can use some improvement, you may save money insuring your Lincoln MKT by improving your credit score. Drivers who have very high credit ratings tend to be more responsible than those with bad credit.
- Better auto insurance rates on safer cars – Vehicles with good safety scores get lower rates. These vehicles have better occupant injury protection and fewer injuries means lower claim amounts and thus lower rates. If the Lincoln MKT scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
- Discounts for married couples – Having a spouse may save some money on your auto insurance bill. Having a significant other translates into being more stable financially and statistics show married couples file fewer claims.
- Location can modify price – Residing in smaller towns and rural areas of the country has definite advantages when trying to find low car insurance rates. Lower population means reduced accidents and a lower car theft rate. Urban drivers tend to have congested traffic and longer commute times. More time on the road means more chances of being involved in an auto accident.
- Never have auto insurance lapses – Having a lapse in insurance coverage can be a fast way to trigger a rate increase. And not only will insurance be more expensive, the inability to provide proof of insurance could result in fines and jail time. You may have to file a SR-22 with the Illinois department of motor vehicles.
- High comp and collision deductibles cost less – Coverage for physical damage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Lincoln. A few examples of covered claims are a dented fender, hail damage, and having your car stolen. Your deductibles define the amount you are willing to pay if a claim is determined to be covered. The more money you pay before a claim is paid (deductible), the lower your rates will be.
- Lincoln MKT statistical loss data – Companies take into consideration historical loss data for every vehicle to help determine costs. Vehicles that tend to have a higher amount or frequency of claims will have higher rates for specific coverages. The next table shows the compiled insurance loss statistics for Lincoln MKT vehicles.
For each policy coverage, the loss probability for all vehicles, as a total average, is set at 100. Numbers below 100 mean the vehicle has better than average losses, while percentage numbers above 100 indicate frequent claims or statistically larger losses.
Insurance Loss Ratings for Lincoln MKT Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lincoln MKT 4dr 2WD 128 133 Lincoln MKT 4dr 4WD 118 85 138 85
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance is available from local insurance agents
Some consumers would prefer to talk to a local agent and often times that is recommended Licensed agents are very good at helping people manage risk and help submit paperwork. One of the benefits of getting free rate quotes online is you may find cheap auto insurance rates and still have a local agent.
Once you complete this quick form, your insurance coverage information is immediately sent to local insurance agents in Chicago who will give you quotes for your auto insurance coverage. You never need to find an agent on your own due to the fact that quote results will go straight to your inbox. If you wish to get a price quote from a specific insurance company, you would need to go to their quote page and give them your coverage information.
Picking the best insurer needs to be determined by more than just a cheap price. A good agent in Chicago will have answers to these questions.
- What are their preferred companies if they are an independent agency?
- Can glass repairs be made at your home?
- Is the agency covered by Errors and Omissions coverage?
- Are claims handled at the agent’s location?
- Are they in the agency full-time?
- Are they paid to recommend certain coverages?
- Can you choose the body shop in case repairs are needed?
When looking for a good Chicago insurance agent, it can be helpful to understand the different agency structures that differ in how they can insure your vehicles. Auto insurance agents in Chicago can be described as either independent agents or exclusive agents. Both sell auto insurance policies, but it’s a good idea to understand the difference in how they write coverage because it may have an impact on your selection of an agent.
These agents write business for a single company and examples are American Family, State Farm, and AAA. Exclusive agents are unable to compare rates from other companies so it’s a take it or leave it situation. These agents are usually quite knowledgeable in insurance sales and that allows them to sell at a higher price point.
Listed below is a list of exclusive agencies in Chicago that can give you price quotes.
Independent Auto Insurance Agencies
Agents that choose to be independent are not restricted to one company and that is an advantage because they can write policies with multiple insurance companies and potentially find a lower price. If prices rise, they simply move your policy to a different company which requires no work on your part. When comparing auto insurance rates, you absolutely need to get quotes from several independent insurance agents so that you can do a thorough price comparison.
Listed below is a short list of independent agents in Chicago that are able to give price quotes.
After getting reasonable responses to all your questions and a good coverage price, you may have just found an auto insurance agent that will properly service your auto insurance policy.
Car insurance protects more than just your car
Despite the high cost of buying insurance for a Lincoln MKT in Chicago, maintaining insurance is required by state law in Illinois and it also provides benefits you may not be aware of.
- Just about all states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability in order to drive the car. 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.
- If your Lincoln has a loan, more than likely the lender will make it a condition of the loan that you have physical damage coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your Lincoln for a much higher rate and require you to fork over for it.
- Car insurance protects not only your vehicle but also your assets. Insurance will pay for many types of medical costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.
The benefits of carrying adequate insurance are without a doubt worth the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer is overpaying more than $850 per year so we recommend shopping around at every renewal to be sure current rates are still competitive.
Affordable rates are available
When you buy Chicago car insurance online, you should never skimp on coverage in order to save money. In many instances, consumers will sacrifice full coverage to discover at claim time that their decision to reduce coverage ended up costing them more. Your objective should be to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.
Throughout this article, we presented many ideas to get a better price on Lincoln MKT insurance in Chicago. It’s most important to understand that the more rate quotes you have, the better your chances of lowering your prices. Consumers could even find that the biggest savings come from a small local company. Some small companies may cover specific market segments cheaper as compared to the big name companies such as Allstate or State Farm.
For more information, feel free to browse the resources below:
- Safe Vehicles for Teens (iihs.org)
- Who Has Affordable Auto Insurance for Real Estate Agents in Chicago? (FAQ)
- Who Has Cheap Chicago Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- How Much is Chicago Auto Insurance for a 20 Year Old Female? (FAQ)
- Who Has Cheap Chicago Car Insurance Quotes for Low Mileage Drivers? (FAQ)
- Who Has Cheap Car Insurance Rates for a Toyota Camry in Chicago? (FAQ)
- What Car Insurance is Cheapest for a Jeep Wrangler in Chicago? (FAQ)
- How Much are Chicago Auto Insurance Quotes for Retired Military? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- Car Insurance: When not to Skimp (BankRate.com)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)