How to Save on Baltimore Lincoln MKT Insurance

It’s hard to fathom, but a large majority of insurance policyholders in Maryland kept their policy with the same company for well over three years, and virtually 40% of consumers have never compared rates from other carriers. The average driver in America can cut their rates by roughly $859 a year by just comparing quotes, but they just assume it takes a lot of time to compare rates online.

If your goal is the lowest price, then the best way to get affordable auto insurance rates in Baltimore is to make a habit of comparing prices annually from insurance carriers who sell insurance in Maryland. Rates can be compared by completing these steps.

First, gain an understanding of individual coverages and the measures you can take to keep rates low. Many things that cause high rates like accidents, traffic violations, and a bad credit score can be remedied by making small lifestyle or driving habit changes. Read the full article for more information to lower rates and find missing discounts.

Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like GEICO or State Farm, while independent agents can provide rate quotes from multiple companies. View rates

Third, compare the quotes to your current policy premium to see if a cheaper rate is available in Baltimore. If you can save some money and switch companies, make sure there is no coverage gap between policies.

A crucial key to this process is to try to compare the same amount of coverage on each quote request and and to get rate quotes from as many different insurance providers as possible. Doing this guarantees an accurate price comparison and a better comparison of the market.

Companies offering Lincoln MKT insurance in Maryland

The following companies offer price quotes in Maryland. In order to find cheap car insurance in Baltimore, MD, we recommend you compare several of them to get the lowest price.

Coverage information

The information shown below outlines detailed analysis of insurance costs for Lincoln MKT models. Having insight into how prices are determined can help guide drivers when making smart buying decisions.

Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Rate information does not factor in vehicle location which can modify coverage prices noticeably.

Analysis of deductible levels

One frequently asked question is how high should the physical damage coverage deductibles be. The following insurance rates summarize the premium difference of buying low and high policy deductibles. The first data table uses a $250 physical damage coverage deductible and the second set of rates uses a $1,000 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Information does not factor in vehicle location which can affect premium rates significantly.

Based on the figures above, using a $250 deductible will cost in the ballpark of $36 more each month or $432 annually than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at least 21 months between claim filings, you would most likely save money by selecting a higher deductible.

One big caveat is that raising deductibles to get cheaper rates results in more money out-of-pocket when you have a claim. You need to make sure you have access to more funds in the event you have to pay the higher deductible in order to repair your vehicle.

Careless driving habits raise car insurance rates

The information below shows how speeding tickets and accidents can impact Lincoln MKT car insurance costs for different age groups of insureds. The costs are based on a single female driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.

Car insurance prices based on gender

The diagram below illustrates the difference between Lincoln MKT auto insurance costs for male and female drivers. The data assumes a clean driving record, no claims, comprehensive and collision coverage, $500 deductibles, single marital status, and no other discounts are factored in.

Full coverage rates compared to liability-only

The information below shows the comparison of Lincoln MKT car insurance rates when comparing full coverage to liability only. The data is based on no claims or violations, $1,000 deductibles, drivers are not married, and no discounts are factored in.

When to switch to liability coverage only

There is no exact formula of when to exclude physical damage insurance, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Lincoln MKT replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying the physical damage deductible. If you are paying more than $500 a year to have full coverage, then it could be time to drop full coverage.

There are a few cases where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Cheaper rates with these price cutting discounts

Auto insurance is not an enjoyable expense, but you might be missing out on some discounts that can drop the cost substantially. Many discounts should be triggered at quote time, but once in a while a discount must be manually applied prior to receiving the credit.

• Resident Student – Kids who live away from home to go to college and do not have access to a covered vehicle can receive lower rates.
• Accident Free – Good drivers with no accidents are rewarded with significantly better rates on Baltimore auto insurance quote compared to policyholders that have many claims.
• Professional Organizations – Joining specific professional or occupational memberships or organizations is a simple method to lower premiums on auto insurance.
• Switch and Save Discount – Select auto insurance companies give a discount for buying a new policy prior to your current MKT insurance policy expiring. You can save around 10% with this discount.
• Driving Data Discount – Drivers that enable companies to monitor driving manner by using a small device installed in their vehicle like Allstate’s Drivewise could save a few bucks if they are good drivers.
• Seat Belt Discounts – Buckling up and requiring all passengers to buckle up could cut 10% or more off PIP or medical payments premium.
• Discounts for Multiple Vehicles – Buying insurance for more than one vehicle on one policy could earn a price break for each car.
• Driver’s Ed – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course if offered at their school.
• Policy Bundle Discount – If you can bundle your home and auto insurance with the same insurance company you will save up to 20% off your total MKT insurance premium.
• Accident Forgiveness Coverage – This isn’t a discount exactly, but some insurance companies may permit one accident before your rates go up if your claims history is clear for a specific time period.

Drivers should understand that many deductions do not apply to the entire cost. Most cut the price of certain insurance coverages like comp or med pay. Despite the fact that it seems like you could get a free auto insurance policy, insurance companies wouldn’t stay in business.

The diagram below shows the difference between Lincoln MKT premium costs with and without discounts. The price estimates are based on a female driver, no tickets, no at-fault accidents, Maryland 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 multi-car, marriage, safe-driver, multi-policy, homeowner, and claim-free discounts applied.

A few popular companies and some of the premium reductions they offer include:

• 21st Century offers discounts including good student, student driver, defensive driver, anti-lock brakes, and 55 and older.
• Progressive offers discounts for online signing, good student, continuous coverage, homeowner, and online quote discount.
• State Farm discounts include student away at school, Steer Clear safe driver discount, passive restraint, multiple autos, and anti-theft.
• Nationwide offers premium reductions for defensive driving, good student, accident-free, anti-theft, easy pay, business or organization, and family plan.
• Esurance may offer discounts for defensive driver, DriveSense, anti-lock brakes, Switch & Save, online shopper, and good student.
• The Hartford includes discounts for anti-theft, defensive driver, good student, vehicle fuel type, and driver training.

If you want affordable Lincoln MKT insurance quotes, ask all the companies how you can save money. Some credits may not apply everywhere. If you would like to see a list of insurance companies with the best discounts in Baltimore, click this link.

You may need advice from an insurance agency

Certain consumers still like to sit down and talk to an agent and doing that can be a smart decision Professional insurance agents can make sure you are properly covered and will help you if you have claims. A good thing about comparing rates online is that you can obtain lower premium rates and still choose a local agent. Supporting local agents is still important in Baltimore.

To make it easy to find an agent, after completing this form (opens in new window), your coverage information is immediately sent to agents in your area who will gladly provide quotes for your business. You won’t even need to leave your computer since price quotes are sent to your email. If you want to get a comparison quote for a specific company, you can always navigate to their website and submit a quote form there.

If you’re trying to find a local Baltimore insurance agent, it’s important to understand the different types of agents to choose from. Auto insurance agents in Baltimore are classified as either independent agents or exclusive agents depending on their employer. Both types of agents can sell and service auto insurance coverage, but we need to point out the difference in the companies they write for since it may influence the selection process.

Independent Agents (or Brokers)

Independent agencies are not locked into one company and that gives them the ability to insure with an assortment of companies and possibly get better coverage at lower prices. If premiums increase, your agent can just switch to a different company which makes it simple for you.

If you need lower rates, we recommend you include a couple of independent agencies to get the most accurate price comparison.

Featured below is a list of independent insurance agents in Baltimore that may be able to provide free rate quotes.

View more Baltimore agents

Exclusive Auto Insurance Agents

Agents in the exclusive channel work for only one company and some examples include State Farm, Allstate, and Farm Bureau. Exclusive agents cannot provide other company’s prices so it’s a take it or leave it situation. Exclusive agents are well trained on the products they sell which aids in selling service over price.

Shown below are exclusive agents in Baltimore that are able to give price quotes.

View more Baltimore agents

Finding the right insurance agent should depend on more than just a cheap quote. The following questions are important to ask.

• Will high miles depreciate repair valuations?
• Are they primarily personal or commercial lines agents in Baltimore?
• Does their agency support local causes in Baltimore?
• Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
• If you have an accident, will your rates go up?
• Do they have designations such as AIC, CPCU, or CIC?
• Are claims handled at the agent’s location?
• Can you contact them at any time?

What is the best car insurance company in Maryland?

Finding a high-quality insurance company can be challenging considering how many companies sell insurance in Maryland. The ranking data shown next can help you choose which insurers to look at when comparing rate quotes.

Top 10 Baltimore Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General

Smart shoppers get results

In this article, we presented a lot of tips how to find cheap Lincoln MKT insurance in Baltimore. The most important thing to understand is the more price quotes you have, the higher your chance of finding cheaper Baltimore auto insurance quotes. You may even find the best premium rates are with a company that doesn’t do a lot of advertising. These companies can often provide lower prices in certain areas as compared to the big name companies such as Progressive and GEICO.

Cheaper Lincoln MKT insurance in Baltimore can be purchased on the web and with local Baltimore insurance agents, and you should be comparing both to have the best chance of lowering rates. Some car insurance companies may not offer rates over the internet and many times these smaller companies prefer to sell through independent agents.

For more information, feel free to visit the following helpful articles:

• Safety Belts FAQ (iihs.org)
• How Much is Auto Insurance for Drivers Requiring a SR22 in Baltimore? (FAQ)
• What Car Insurance is Cheapest for State Employees in Baltimore? (FAQ)
• How Much is Auto Insurance for Handicapped Drivers in Baltimore? (FAQ)
• How Much is Auto Insurance for College Graduates in Baltimore? (FAQ)
• Think You’re a Safe Driver? (State Farm)
• A Tree Fell on Your Car: Now What? (Allstate)
• Child Safety FAQ (iihs.org)
• What is a Telematics Device? (Allstate)