How to Save on Toledo Lincoln MKT Insurance

Insurance quote for Lincoln MKT in ToledoIt’s well known that insurance companies don’t want you shop around. Consumers who perform rate comparisons are inclined to switch companies because there is a good probability of finding a lower-priced company. Surprisingly, a recent survey revealed that people who compared rates annually saved an average of $70 a month as compared to drivers who never shopped around for better prices.

If finding discount rates on car insurance in Toledo is your objective, learning the best ways to shop for car insurance can save time and money.

The easiest way to save on auto insurance rates in Toledo is to start comparing prices yearly from providers in Ohio. Price quotes can be compared by following these guidelines.

  1. Try to learn about how companies set rates and the factors you can control to keep rates in check. Many rating factors that are responsible for high rates such as at-fault accidents, speeding tickets, and poor credit rating can be eliminated by making small lifestyle or driving habit changes. Later in this article we will cover ideas to help reduce premium rates and get discounts that may be available to you.
  2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from one company like GEICO or State Farm, while agents who are independent can provide rate quotes from many different companies.
  3. Compare the new rate quotes to your current policy and see if you can save money. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.
  4. Provide written notification to your current company of your intention to cancel your existing policy and submit the application along with any required down payment to your new agent or company. Once the application is submitted, keep the new proof of insurance certificate in your vehicle’s glove compartment or console.

One piece of advice is to try to compare the same deductibles and limits on each price quote and and to analyze as many companies as possible. This enables a fair price comparison and a better comparison of the market.

How to lower your Lincoln MKT insurance cost in Toledo, Ohio

When comparison shopping, getting more free quotes helps locate a better price.

The companies in the list below can provide comparison quotes in Ohio. If you want cheap auto insurance in Toledo, we recommend you visit several of them to get the best price comparison.

Get cheaper Lincoln MKT insurance in Toledo with discounts

Some providers don’t necessarily list every available discount in an easy-to-find place, so the following list contains both the well known and also the more inconspicuous credits available to lower your premiums when you buy Toledo car insurance online.Cheaper insurance with discounts

Just know that many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, insurance companies aren’t that generous. But all discounts will reduce the premium cost.

The information below illustrates the difference between Lincoln MKT insurance costs with and without discounts applied to the policy rates. The rate quotes are based on a female driver, no accidents, no driving violations, Ohio state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, homeowner, marriage, and claim-free discounts applied.

Large insurance companies and a partial list of their discounts include:

Check with all the companies to apply every possible discount. Savings might not apply in Toledo. To find insurance companies that provide some of the discounts listed above in Toledo, click this link.

Car insurance statistics for a Lincoln MKT

The rate table below covers estimates of policy rates for Lincoln MKT models. Understanding more about how auto insurance prices are established can help drivers make informed decisions when comparing rates.

Lincoln MKT Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $176 $322 $310 $18 $92 $918 $77
MKT 3.7 AWD $194 $372 $310 $18 $92 $986 $82
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Price information does not factor in specific Toledo garaging location which can increase or decrease coverage prices noticeably.

Raise deductibles and save

When comparing car insurance rates, the most common question is how high or low should comp and collision deductibles be. The following tables may help to illustrate how much more you’ll pay of buying low and high comp and collision deductibles. The first rate table uses a $250 deductible and the second pricing table uses a $1,000 deductible.

Lincoln MKT insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $220 $348 $256 $16 $76 $941 $78
MKT 3.7 AWD $244 $400 $256 $16 $76 $1,017 $85
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Lincoln MKT insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $136 $220 $256 $16 $76 $704 $59
MKT 3.7 AWD $150 $252 $256 $16 $76 $750 $63
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Information does not factor in zip code location which can influence price quotes noticeably.

Based on the above data, using a $250 deductible costs approximately $21 more each month or $252 for a full year across all Lincoln MKT models than selecting the higher $1,000 deductible. Since you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you go at least 36 months between claims, you would save more money going with the higher deductible.

Safe drivers pay less for car insurance

The illustration below illustrates how speeding tickets and fender-benders impact Lincoln MKT insurance costs for each age group. The data is based on a single female driver, full coverage, $250 deductibles, and no policy discounts are applied.

Lincoln MKT insurance premiums by gender and age

The information below illustrates the comparison of Lincoln MKT insurance premiums for male and female drivers. The premiums are based on no claims, a clean driving record, comp and collision included, $1,000 deductibles, marital status is single, and no additional discounts are factored in.

Liability only or full coverage

The illustration below illustrates the comparison of Lincoln MKT auto insurance costs with full coverage and liability only. The price estimates are based on no violations or accidents, $100 deductibles, single marital status, and no additional discounts are factored in.

When to switch to liability coverage only

There isn’t a written rule of when to drop physical damage insurance, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Lincoln MKT book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after paying your policy deductible. If you are currently paying more than $300 annually for physical damage coverage, then it could be time to drop full coverage.

There are some situations where dropping full coverage is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.

What Determines Lincoln MKT Insurance Costs?

A large part of saving on car insurance is knowing some of the things that come into play when calculating car insurance rates. When consumers understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

Prevent theft and save – Owning a car with anti-theft technology or alarm system can save you a little every year. Theft deterrent systems like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart car theft.

Liability insurance limits on your policy – The liability section of your policy is the coverage that protects you in the event that you are determined to be liable for an accident. Your policy’s liability insurance provides legal defense which can cost thousands of dollars. This coverage is very inexpensive compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.

What type of car do you drive? – The performance level of the car, truck or SUV you own makes a big difference in determining your rates. Lower performance four cylinder passenger cars generally have the cheapest insurance rates, but the cost you end up paying is determined by many additional factors.

The following chart assumes a single male driver age 50, full coverage with $250 deductibles, and no discounts or violations. The chart compares Lincoln MKT insurance rates compared to other vehicles that have different risk factors.

Raise your coverage deductibles for better rates – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your Lincoln. Some coverage claims are running into the backend of another car, collision with an animal, and damage from a fallen tree branch. The deductibles define the amount the insured will be required to pay if a claim is determined to be covered. The more you choose to pay out-of-pocket, the less money you will pay for car insurance.

Insurance loss data for Lincoln MKT vehicles – Car insurance companies include the past claim history for a vehicle in order to profitably underwrite each model. Models that statistically have increased losses will have increased rates. The table below shows the collected loss data for Lincoln MKT vehicles.

For each policy coverage type, the loss probability for all vehicles, without regard to make or model, is represented as 100. Percentage numbers below 100 indicate a favorable loss history, while values that are above 100 indicate higher probability of having a loss or tendency to have higher losses.

Lincoln MKT Insurance Loss Statistics
Specific Lincoln 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
Statistics from for 2013-2015 Model Years

Don’t I need to talk to an insurance agent?

Some consumers just prefer to buy from a licensed agent. An additional benefit of getting online price quotes is you may find cheap insurance quotes and still choose a local agent.

Toledo insurance agentsUpon completion of this quick form, the coverage information is emailed to agents in your area who will give you quotes for your coverage. You won’t need to search for an agent since price quotes are sent immediately to you. It’s the lowest rates AND an agent nearby. If you need to compare rates from a specific company, just navigate to their website and complete a quote there.

Selecting an provider requires you to look at more than just the bottom line cost. Here are some questions you should ask.

If you are searching for a reputable agency, there are two types of insurance agents that you can select. Agencies in Toledo can be classified as either exclusive or independent (non-exclusive).

Exclusive Agents

Agents of this type normally can only provide a single company’s rates like Allstate, Farmers Insurance or State Farm. Exclusive agents are unable to compare other company’s rates so they have no alternatives for high prices. Exclusive agents receive a lot of sales training on sales techniques and that allows them to sell at a higher price point.

Shown below is a short list of exclusive insurance agents in Toledo that can give you comparison quotes.

5415 Monroe St #2aToledo, OH 43623(419) 841-5017View Map

5650 W Central Ave, Ste AAToledo, OH 43615(419) 843-4001View Map

3138 Tremainsville RdToledo, OH 43613(419) 472-9777View Map

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Independent Insurance Agencies

Independent insurance agents do not write with just one company so they have the ability to put coverage with a variety of different insurance companies and get the cheapest rates. To transfer your coverage to a different company, the agent simply finds a different carrier and you stay with the same agent. When comparing insurance prices, we highly recommend that you compare quotes from independent agents in order to have the best price comparison.

Listed below is a list of independent insurance agencies in Toledo who can help you get comparison quotes.

4149 N Holland Sylvania Rd #3Toledo, OH 43623(419) 882-1770View Map

3450 Central Ave #344Toledo, OH 43606(419) 536-2213View Map

Fox Insurance
4560 Heatherdowns Blvd # 103Toledo, OH 43614(419) 385-2797View Map

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How much insurance do I need?

When it comes to buying insurance from an agent or online, there really is not a one-size-fits-all type of policy. Every situation is different and your insurance should unique, too.Higher deductibles save money
These are some specific questions may help you determine if your insurance needs could use an agent’s help.

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

Shop smart and save

Lower-priced Lincoln MKT insurance in Toledo is definitely available both online and with local Toledo insurance agents, so you should compare both in order to have the best chance of saving money. Some companies do not offer online price quotes and most of the time these smaller providers prefer to sell through independent agents.

In this article, we presented a lot of information how to lower your Lincoln MKT insurance rates in Toledo. The most important thing to understand is the more you quote Toledo car insurance, the better chance you’ll have of finding low cost Toledo car insurance quotes. Consumers could even find that the best price on auto insurance is with an unexpected company. Some small companies can often provide lower car insurance rates in certain areas than the large multi-state companies such as State Farm, GEICO and Nationwide.

To read more, link through to the articles below: