Statistics show that the vast majority of consumers have purchased from the same company for a minimum of four years, and nearly 40% of drivers have never quoted rates to find lower-cost coverage. With the average premium in New Jersey being $2,010, drivers could save up to $716 every year by just shopping around, but they don’t know the amount of money they would save if they swap their current policy for a cheaper one.
Really, the only way to get affordable Lincoln MKC insurance is to start comparing rates regularly from different companies that insure vehicles in Newark.
- First, spend some time learning about how companies price auto insurance and the modifications you can make to lower rates. Many policy risk factors that are responsible for high rates such as traffic citations, accidents, and poor credit rating can be improved by making small lifestyle or driving habit changes. Continue reading for information to find cheap prices and find additional discounts.
- Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO and State Farm, while independent agencies can give you price quotes for a wide range of companies.
- Third, compare the quotes to your existing coverage and see if you can save money. If you find better rates and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, notify your current company to cancel your existing policy. Submit a completed policy application and payment to the new company. Once the paperwork is finalized, keep your new certificate verifying proof of insurance in an easily accessible location.
One tip to remember is to try to compare the same amount of coverage on every quote and and to get rates from every company you can. Doing this provides a level playing field and and a good selection of different prices.
This article will introduce you to the best way to quote coverages. If you are paying for car insurance now, you should be able to save money using the ideas you’re about to read. Although New Jersey vehicle owners need to have an understanding of the way insurance companies determine how much to charge and use it to find better rates.
How Your MKC Insurance Prices are Determined
Consumers need to have an understanding of some of the elements that go into determining the price you pay for auto insurance. If you understand what determines base rates, this empowers consumers to make smart changes that may reward you with lower premium levels.
- Vehicle theft costs us all – Choosing a vehicle that has a built-in theft deterrent system can save you some money. Systems that thwart thieves such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft.
- Youthful drivers cost more – Mature drivers tend to be more responsible, are lower risk to insure, and usually have better credit. Inexperience drivers tend to be easily distracted in a vehicle therefore auto insurance rates are much higher.
- Liability coverage – Liability insurance provides coverage if you are determined to be liable for causing damage or personal injury in an accident. Liability provides legal defense coverage to defend your case. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not cut corners here.
- Save money by having multiple policies – The majority of insurers apply discounts for people who have multiple policies with them such as combining an auto and homeowners policy. This can amount to anywhere from five to ten percent in most cases. Even if you’re getting this discount you still need to get quotes from other companies to verify if the discount is saving money. You may still be able to find a better deal even if you have your coverage with different companies
- Where you call home is a factor – Residing in less populated areas is a good thing if you are looking for the lowest rates. Drivers in populated areas have to deal with congested traffic and more severe claims. Fewer drivers on the road means a lower chance of having an accident as well as less vandalism and auto theft.
- Keep auto insurance rates low by being claim-free – If you tend to file frequent claims, you shouldn’t be surprised to get higher rates. Insurance companies in New Jersey award discounts to insureds who are not frequent claim filers. Your insurance policy is meant to be used in the event of claims that you cannot pay yourself.
- High performance vehicles cost more to insure – The make and model of the car you are insuring makes a significant difference in your rates. The lowest base rates are usually found on lower performance four cylinder passenger cars, but the cost you end up paying is determined by many additional factors.
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Lincoln MKC statistical loss data – Insurers analyze claim trends for every vehicle in order to profitably underwrite each model. Vehicles that are shown to have a trend towards higher claims will have a higher cost to insure. The information below illustrates the compiled insurance loss statistics for Lincoln MKC vehicles.
For each coverage category, the statistical loss for all vehicles, without regard to make or model, equals 100. Numbers shown that are under 100 imply a favorable loss record, while values that are 100 or greater point to more frequent losses or an increased probability of a larger loss.
Car Insurance Loss Data for Lincoln MKC Models Specific Lincoln Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lincoln MKC 4dr 2WD 97 76 69 Lincoln MKC 4dr 4WD 99 68 72 82 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do the work, save more money
There are still a few companies who don’t offer rates over the internet and many times these smaller companies only sell through independent agents. Affordable Lincoln MKC insurance in Newark can be sourced both online as well as from independent agents in Newark, so you need to compare both so you have a total pricing picture.
Drivers switch companies for a number of reasons such as extreme rates for teen drivers, high rates after DUI convictions, delays in paying claims or even questionable increases in premium. Whatever your reason, choosing a new company is not as difficult as it may seem.
You just read quite a bit of information on how to save on Lincoln MKC insurance in Newark. The most important thing to understand is the more price quotes you have, the higher your chance of finding affordable Newark auto insurance quotes. Consumers may even find the biggest savings come from some of the smallest insurance companies.
Even more information can be found in the articles below:
- Cellphones, Texting and Driving (iihs.org)
- Who Has Affordable Auto Insurance for College Graduates in Newark? (FAQ)
- What Insurance is Cheapest for a Ford Explorer in Newark? (FAQ)
- How Much are Car Insurance Rates for Good Students in Newark? (FAQ)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)