It’s safe to assume that auto insurance companies don’t want their customers to go rate shopping. Consumers who compare rates once a year are inclined to move their business because of the high probability of finding a lower-cost company. Surprisingly, a recent survey revealed that people who regularly compared price quotes saved about $865 annually compared to drivers who never shopped around.
If saving the most money on insurance is your objective, knowing how to shop for insurance premiums can make the process less intimidating.
The preferred way to find low-cost Lincoln MKX insurance in Anchorage is to regularly compare quotes from insurers who provide car insurance in Alaska. Rate comparisons can be done by following these guidelines.
- Step 1: Spend some time learning about auto insurance and the things you can control to prevent high rates. Many rating factors that result in higher rates like accidents, traffic violations, and poor credit history can be amended by being financially responsible and driving safely.
- Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO and Allstate, while agents who are independent can quote rates for a wide range of insurance providers.
- Step 3: Compare the new rates to your current policy premium and see if you can save money. If you can save money and buy the policy, make sure there is no lapse in coverage.
- Step 4: Notify your company or agent of your decision to cancel your current car insurance policy. Submit a down payment along with a completed application to your new insurance company. Immediately upon receiving it, safely store the certificate verifying proof of insurance somewhere easily accessible.
One tip to remember is that you’ll want to make sure you compare identical coverage information on each price quote and and to get price estimates from as many different companies as possible. This ensures a fair price comparison and the best rate selection.
Most companies make it easy to get price estimates on their websites. Getting online quotes for Lincoln MKX insurance in Anchorage is possible for anyone as you just type in the amount of coverage you want as requested by the quote form. Once you submit the form, the company’s rating system makes automated requests for information on your driving record and credit history and gives you a price quote based on the data you entered. Getting online quotes for Lincoln MKX insurance in Anchorage makes it easy to compare insurance prices and it’s necessary to get many rate quotes in order to find cheaper insurance pricing.
To use this form to compare rates, compare rates now from the companies shown below. To compare your current rates, we recommend that you enter your coverages as close as possible to your current policy. This guarantees you will be getting an apples-to-apples comparison for similar insurance coverage.
The providers in the list below are our best choices to provide price quotes in Alaska. If you want to find the best car insurance in Alaska, it’s highly recommended you compare several of them to get the best price comparison.
These discounts can reduce Lincoln MKX insurance rates
Insurance can be prohibitively expensive, but there could be available discounts that you may not even know about. Some trigger automatically when you get a quote, but some discounts are required to be asked for before being credited. If you do not check that you are getting every discount you qualify for, you are paying more than you should be.
- Professional Memberships – Participating in qualifying employment or professional organizations can get you a small discount on your bill.
- Anchorage Homeowners Discount – Being a homeowner can earn you a little savings because of the fact that having a home means you have a higher level of financial diligence.
- Student Driver Training – Cut your cost by having your teen driver take driver’s ed class in school.
- Bundle and Save – When you combine your home and auto insurance with one company you could earn a discount of over 10 percent off each policy depending on the company.
- Early Signing – Some insurance companies provide a discount for renewing your policy prior to your current MKX insurance policy expiration. It can save you around 10%.
- Use Seat Belts – Drivers who require all occupants to buckle up before driving can save 10% or more on the medical payments or PIP coverage costs.
Consumers should know that most discount credits are not given to the entire policy premium. Some only apply to the price of certain insurance coverages like comprehensive or collision. So even though you would think you can get free auto insurance, companies don’t profit that way. Any qualifying discounts should definitely cut your premiums.
The diagram below shows the difference between Lincoln MKX annual premium costs with and without discounts applied. The rates are based on a male driver, a clean driving record, no claims, Alaska state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-car, claim-free, marriage, and multi-policy discounts applied.
Some companies that may offer quotes with most of these discounts include:
When getting free Anchorage car insurance quotes, it’s a good idea to each insurance company to apply every possible discount. Depending on the company, some discounts may not be offered in Anchorage. For a list of companies who offer car insurance discounts in Anchorage, click here.
Premium rates and analysis
The coverage information shown below covers a range of insurance rates for Lincoln MKX models. Having a better understanding of how insurance quotes are calculated can help drivers make decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Price information does not factor in garaging location in Anchorage which can impact insurance rates greatly.
How violations and accidents impact rates
The diagram below demonstrates how speeding tickets and at-fault fender-benders drive up Lincoln MKX auto insurance rates for different insured age categories. The premium estimates are based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
Should you buy full coverage?
The example below visualizes the comparison of Lincoln MKX annual premium costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
When to buy liability coverage only
There is no set rule for excluding full coverage, but there is a general guideline. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s say your Lincoln MKX book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $2,000 after paying your deductible. If you are paying in excess of $200 a year to have full coverage, then it could be time to drop full coverage.
There are some scenarios where only buying liability is not a good plan. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Lower Your Anchorage Insurance Rates
Consumers need to have an understanding of some of the elements that come into play when calculating your policy premiums. When you understand what controls the rates you pay, this allows you to make educated decisions that could help you find big savings. Lots of factors are part of the equation when premium rates are determined. A few of the factors are predictable such as your driving record, but others are less obvious such as your marital status and annual miles driven.
Insurance is expensive for teenage drivers – Older drivers are viewed as being more responsible, tend to file fewer claims, and get fewer tickets. Beginning drivers are statistically proven to be easily distracted when driving so auto insurance rates are higher.
The following data is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Performance affects premiums – The type of vehicle you drive makes a significant difference in how high your rates are. Small economy passenger vehicles normally have pretty low rates, but your final cost has many other factors.
The following data uses these variables: married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The data compares Lincoln MKX car insurance rates compared to other models that have different risk factors.
- Do you save by driving less? – Driving a lot of miles in a year the higher your rates will be. Almost all companies charge to insure your cars determined by how the vehicle is used. Vehicles used primarily for pleasure use receive lower rates compared to those used for work or business. It’s a smart idea to ensure your auto insurance coverage shows the right rating data, because improper ratings can cost you money. An incorrectly rated MKX can result in significantly higher rates.
- Raising physical damage deductibles lowers premiums – Insurance for physical damage, also called ‘full coverage’, is used to repair damage to your vehicle. Some coverage claims would be a broken windshield, collision with an animal, and having your car stolen. Comprehensive and collision coverage deductibles define how much you are willing to pay if the claim is covered. The more expense you pay before a claim is paid (deductible), the better rate you will receive.
- Buy a safe car and pay less – Safe vehicles get lower rates. Safer cars help reduce the chance of injuries in an accident and fewer injuries translates into savings for insurance companies and lower rates for you. If the Lincoln MKX has at least four stars on Safercar.gov you are probably receiving a discount.
- Liability coverage – The liability coverage on your policy will protect you in the event that you are found liable for personal injury or accident damage. Liability provides legal defense to attempt to prove you were not liable. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.
- Don’t cancel your auto insurance without a new one in place – Driving your car without having proper coverage is a misdemeanor and you may have a hard time finding new coverage because you let your insurance lapse for non-payment. In addition to paying higher premiums, the inability to provide proof of insurance may earn you a steep fine or even jail time.
Lincoln MKX insurance loss probability – Auto insurance companies use statistical claims data as a tool for profitable underwriting. Models that statistically have increased claim numbers or amounts will be charged more to insure. The information below illustrates the collected loss data for Lincoln MKX vehicles.
For each coverage category, the loss probability for all vehicles, as a total average, is a value of 100. Numbers below 100 suggest losses that are better than average, while percentage values above 100 point to more claims or an increased chance of a larger loss.
Lincoln MKX Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lincoln MKX 4dr 2WD 77 80 67 66 81 78 Lincoln MKX 4dr 4WD 86 91 92 76 79 87BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years