Locating better insurance prices for a new or used Lincoln MKS in Illinois can turn out to be an all-consuming task, but you can use our car insurance buying tips to save time. There is a better way to compare car insurance rates so you’re going to learn the absolute fastest way to get price quotes for your Lincoln and locate the lowest possible price from Chicago insurance agents and online providers.
It is always a good idea to check car insurance prices occasionally since prices are usually higher with each renewal. If you had the lowest quotes on Lincoln MKS insurance in Chicago last year a different company probably has better rates today. Ignore everything you know about car insurance because we’re going to demonstrate the fastest way to eliminate unnecessary coverages and save money on Lincoln MKS insurance in Chicago.
If you are insured now or need new coverage, use these money-saving tips to find the best rates without sacrificing coverage. Getting quotes for affordable insurance coverage in Chicago is not as hard as you may think. Comparison shoppers only need an understanding of the proper methods to shop instantly.
How do Car Insurance Companies Determine Lincoln MKS Insurance Rates?
Many factors are part of the calculation when pricing auto insurance. Most are fairly basic such as your driving record, but others are not as apparent like your vehicle usage or your vehicle rating. Consumers need to have an understanding of some of the factors that play a part in calculating the level of your policy premiums. If you know what impacts premium levels, this empowers consumers to make smart changes that can help you get better auto insurance rates.
You may save more by consolidating policies – Lots of insurers afford a discount to insureds that buy multiple policies, otherwise known as a multi-policy discount. Discounts can be ten or even fifteen percent. Even though this discount sounds good, you may still want to get quotes from other companies to help ensure you have the lowest rates. It’s possible to still find lower rates by buying insurance from more than one company.
Being married is a bonus – Having a significant other helps lower the price on your auto insurance bill. It generally demonstrates drivers are more mature and statistics show married drivers get in fewer accidents.
Vehicle options that cut auto insurance rates – Driving a car with a theft deterrent system can save you a little every year. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft.
Affects performance affects prices – The make and model of the vehicle you need to insure makes a significant difference in your rates. Due to the fact that the Lincoln MKS is considered a luxury sedan, rates will be more as compared to the average rate in Chicago. Economy passenger cars receive the most favorable rates, but the final cost of insurance is determined by many other factors.
Where you call home plays a part – Living in less populated areas of the country has definite advantages when shopping for auto insurance. People who live in big cities regularly have more traffic problems and longer commutes to work. Fewer drivers translates into fewer accidents.
Experienced drivers pay less – Older people are more responsible, are lower risk to insure, and usually have better credit.Beginning drivers are proven to be more careless when behind the wheel and because of this, their auto insurance rates are much higher.
Driving citations cost more than a fine – Good drivers get better prices than bad drivers. Only having one speeding ticket or other violation could increase your next policy renewal twenty percent or more. Drivers who have gotten dangerous violations such as DUI or reckless driving may face state-mandated requirements to submit a SR-22 form with their state in order to drive a vehicle legally.
Lincoln MKS insurance loss statistics – Insurance companies factor in historical loss data as a way to help calculate a profitable premium price. Models that statistically have higher claim frequency or loss amount will cost more for specific coverages.
The table below illustrates the historical loss data for Lincoln MKS vehicles. For each type of coverage, the statistical loss for all vehicles averaged together is considered to be 100. Numbers shown that are under 100 are indicative of better than average losses, while values that are 100 or greater point to more claims or an increased probability of a larger loss.
Lincoln MKS Insurance Loss Statistics
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lincoln MKS 4dr 2WD | 121 | 90 | 140 | 78 | 103 | |
| Lincoln MKS 4dr 4WD | 135 | 89 | 204 | 89 | ||
| Lincoln MKS Ecoboost 4dr 4WD | 139 | 93 | 153 | 87 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Finding a better price on car insurance is actually easier than you may think. Consumers just need to take a few minutes to compare rate quotes from online providers.
The following companies are ready to provide free quotes in Chicago, IL. If multiple companies are listed, it’s highly recommended you get rates from several of them in order to get a fair rate comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKS AWD 4-Dr Sedan | $242 | $540 | $232 | $14 | $70 | $1,098 | $92 |
| MKS 4-Dr Sedan | $282 | $568 | $300 | $18 | $90 | $1,258 | $105 |
| MKS Ecoboost AWD 4-Dr Sedan | $306 | $716 | $268 | $16 | $80 | $1,386 | $116 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Information does not factor in Chicago location which can revise premium rates substantially.
Lincoln MKS insurance rates by gender in Chicago
The diagram below illustrates the difference between Lincoln MKS yearly insurance costs for male and female drivers. The premium estimates are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are taken into consideration.
Illustration showing the impact of accidents and violations
The illustration below illustrates how speeding tickets and at-fault collisions can impact Lincoln MKS annual premium costs for each different age category. The information is based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
Full coverage versus liability only rates
The example below illustrates the comparison of Lincoln MKS auto insurance rates with full physical damage coverage and with liability coverage only. The rates are based on no accidents, no driving violations, $250 deductibles, single male driver, and no additional discounts are factored in.
When to drop full coverage
There is no definitive guideline for excluding physical damage coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s pretend your Lincoln MKS replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying your policy deductible. If you are paying in excess of $500 annually for physical damage coverage, then it might be time to consider dropping full coverage.
There are some conditions where buying only liability insurance is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.
Best reasons to buy insurance in Illinois
Despite the high cost of buying insurance for a Lincoln MKS in Chicago, insuring your vehicle is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means it is punishable by state law to not carry specific limits of liability insurance in order to drive the car legally. 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 vehicle has a lien holder, more than likely the lender will stipulate that you carry insurance to ensure loan repayment if the vehicle is totalled. If coverage lapses or is canceled, the bank will be required to insure your Lincoln at a much higher rate and force you to pay for the expensive policy.
- Insurance preserves both your assets and your car. It will also cover many types of medical costs incurred in an accident. Liability insurance, one of your policy coverages, will also pay to defend you in the event you are sued. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of buying insurance more than cancel out the cost, especially with large liability claims. The average driver in America is wasting up to $825 a year so compare quotes from several companies once a year at a minimum to help ensure money is not being wasted.
Cheaper rates with these discounts
Buying auto insurance is not cheap, but you may be missing some discounts that could drop your premiums quite a bit. Many of these discounts will be applied automatically at the time of purchase, but a few must be manually applied before you get the savings. If you don’t get every credit you deserve, you’re just leaving money on the table.
- Low Mileage – Low mileage vehicles could be rewarded with substantially lower auto insurance rates.
- New Car Discount – Insuring a vehicle that is new can cost up to 25% less since new vehicles are generally safer.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles are much safer to drive and earn discounts up to 10%.
- Safety Course Discount – Passing a course teaching driver safety skills may get you a small discount depending on where you live.
- Discounts for Multiple Vehicles – Having primary and secondary vehicles on a single policy may reduce the rate for each vehicle.
- Memberships – Affiliation with a qualifying organization could qualify you for a break on your next auto insurance statement.
- Sign Online – Many larger companies will provide an incentive just for signing your application on the internet.
- Claim-Free Discount – Claim-free drivers have much lower rates as opposed to frequent claim filers.
- Senior Discount – Drivers over the age of 55 could receive a small decrease in premiums.
Discounts lower rates, but some of the credits will not apply to the entire cost. Most only cut the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that having all the discounts means you get insurance for free, it just doesn’t work that way.
A few of the larger companies and some of the premium reductions they offer can be read below.
- State Farm may offer discounts for anti-theft, accident-free, student away at school, good student, and defensive driving training.
- Progressive discounts include multi-vehicle, good student, online signing, multi-policy, continuous coverage, and online quote discount.
- Progressive offers premium reductions for multi-vehicle, multi-policy, online signing, homeowner, and continuous coverage.
- MetLife offers discounts including good student, accident-free, claim-free, good driver, defensive driver, multi-policy
- Farm Bureau may have discounts that include multi-policy, renewal discount, driver training, safe driver, 55 and retired, good student, and multi-vehicle.
- GEICO may include discounts for defensive driver, membership and employees, air bags, daytime running lights, and seat belt use.
- SAFECO has discounts for anti-theft, homeowner, bundle discounts, teen safe driver, accident prevention training, and teen safety rewards.
If you want the cheapest Lincoln MKS rate quotes, ask every insurance company which credits you are entitled to. Some discounts may not be offered in your area. For a list of insurers who offer discounts in Chicago, click here.
Get rate quotes but work with a neighborhood Chicago auto insurance agent
A small number of people would rather talk to a local agent and often times that is recommended Professional agents are very good at helping people manage risk and help in the event of a claim. One of the best bonuses of comparing rate quotes online is you may find cheap auto insurance quotes and still choose a local agent.
To make it easy to find an agent, after completing this short form, your coverage information is sent to local insurance agents who will give competitive quotes to get your business. You don’t have to contact an agency because quoted prices will be sent directly to you. If you need to get a comparison quote for a specific company, don’t hesitate to find their quoting web page and fill out the quote form the provide.
Finding the right insurer should depend on more than just the price. Ask your prospective agent these questions:
- Will the quote change when the policy is issued?
- Are there any extra charges for paying monthly?
- Is working in the agency their full-time job?
- Does the company allow you to choose your own collision repair facility?
- What is their Better Business Bureau rating?
- Do they prorate repair cost based on vehicle mileage?
- Is the agent properly licensed in Illinois?
If you need to find a local insurance agency, you must know there are a couple types of insurance agents and how they can quote your rates. Agents may be either exclusive or independent. Both types of agents can sell auto insurance policies, but it’s worth learning the difference in how they write coverage since it may influence the type of agent you choose.
Exclusive Auto Insurance Agents
These agents can only provide one company’s prices like Farmers Insurance, State Farm, or Allstate. Exclusive agents are unable to provide rate quotes from other companies so you might not find the best rates. Exclusive agents are well schooled on the products they sell which helps offset the inability to provide other markets. Some insured continue to use the same agent mainly due to the brand legacy and the convenience of having a single billing for all their coverages.
Shown below are exclusive insurance agencies in Chicago who can help you get rate quotes.
- Mike Matkowskyj – State Farm Insurance Agent
2452 W Chicago Ave – Chicago, IL 60622 – (773) 486-4444 – View Map - John Kim – State Farm Insurance Agent
5700 N Lincoln Ave #209 – Chicago, IL 60659 – (773) 561-1700 – View Map - Dwayne Jackson – State Farm Insurance Agent
1345 W Taylor St – Chicago, IL 60607 – (312) 455-0675 – View Map
Independent Auto Insurance Agents
Agents in the independent channel are not restricted to one company so as a result can place your coverage with any number of different companies and help determine which has the cheapest rates. If they find a cheaper price, the business is moved internally which requires no work on your part.
When comparing auto insurance rates, you definitely need to compare prices from independent agents for maximum quote selection. Most also have access to companies that do not advertise much which may provide better rates.
Shown below are independent insurance agents in Chicago that can give you price quotes.
- Edwards Insurance Agency, Inc.
11113 S Kedzie Ave – Chicago, IL 60655 – (773) 396-5526 – View Map - Zeiler Insurance Services, Inc.
3660 E 106th St – Chicago, IL 60617 – (773) 375-3600 – View Map - Thomas Ward Insurance Group
707 W Willow St – Chicago, IL 60614 – (312) 254-1500 – View Map
Cheaper auto insurance premiums are out there
We’ve covered many ways to get a better price on Lincoln MKS insurance in Chicago. The key thing to remember is the more companies you get premium rates for, the better likelihood of getting affordable Chicago auto insurance quotes. Consumers could even find that the best price on auto insurance is with some of the lesser-known companies.
There are still a few companies who may not have rates over the internet and these small, regional companies provide coverage only through independent agencies. Cheap Lincoln MKS insurance in Chicago is attainable both online and also from your neighborhood Chicago agents, so compare prices from both to have the best rate selection.
When searching for affordable Lincoln MKS insurance quotes, you should never buy less coverage just to save a little money. In many instances, an insured cut liability coverage limits to discover at claim time they didn’t have enough coverage. Your strategy should be to purchase a proper amount of coverage at an affordable rate.
Other learning opportunities
- What is Full Coverage? (Allstate)
- Who Has Cheap Auto Insurance for College Students in Chicago? (FAQ)
- Who Has Affordable Car Insurance for Drivers Over Age 70 in Chicago? (FAQ)
- Tread Depth and Tire Safety (State Farm)
- Teen Driving and Texting (State Farm)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Liability Insurance Coverage (Nationwide)