It takes a little time, but the best way to find the cheapest price for auto insurance rates is to make a habit of comparing prices annually from insurance carriers who can sell car insurance in Corpus Christi. Price quotes can be compared by following these steps.
First, spend a few minutes and learn about how insurance companies determine prices and the measures you can take to keep rates in check. Many things that cause rate increases such as getting speeding tickets and a negative credit history can be improved by making minor driving habit or lifestyle changes. Keep reading for more ideas to prevent rate hikes and get discounts that may be overlooked.
Second, compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like GEICO or Allstate, while agents who are independent can provide prices from multiple sources.
Third, compare the new rate quotes to the premium of your current policy and determine if cheaper MKZ coverage is available in Corpus Christi. If you find a lower rate quote, make sure coverage is continuous and does not lapse.
An important bit of advice to remember is to make sure you enter the same liability limits and deductibles on every price quote and and to get price quotes from as many different insurance providers as possible. Doing this ensures a fair rate comparison and a complete rate analysis.
Regrettably, most consumers in Texas have bought auto insurance from the same company for over three years, and roughly 40% of drivers have never compared rates from other carriers. American drivers could save roughly $850 each year just by getting comparison quotes, but they feel it’s too difficult to compare rates online.
If you have a current insurance policy or are shopping for new coverage, you can use these techniques to buy cheaper insurance without having to cut coverage. Locating the best rates in Corpus Christi can be easy if you know a few tricks. Smart buyers just need to understand the most efficient way to compare prices instantly.
Four factors that influence insurance prices
Many different elements are used when you get a price on insurance. Some are pretty understandable such as your driving history, but some are not as apparent such as whether you are married and annual miles driven.
- Frequent policy claims increase prices – Car insurance companies in Texas award lower rates to drivers who do not file claims often. If you’re an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Your insurance policy is designed for claims that pose a financial burden.
- The more you drive the more you pay – The higher the mileage driven each year the higher your rate. Most insurance companies calculate prices partially by how you use the vehicle. Cars and trucks not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Having an incorrect usage rating on your MKZ may be costing you higher rates. Make sure your policy states the proper vehicle usage.
- Insurance policy lapses increase premiums – Driving your car without having proper coverage is a misdemeanor and insurance companies will penalize you for letting your coverage cancel without a new policy in place. Not only will you pay higher rates, getting caught without coverage could result in a hefty fine and possibly a revoked license.
- Where you call home plays a part – Being located in smaller towns and rural areas of the country is a good thing when insuring your vehicles. Lower population means a lower chance of having an accident and lower theft and vandalism rates. People in densely populated areas tend to have much more traffic and more severe claims. More time commuting means higher likelihood of an accident.
Claims statistics for a Lincoln MKZ – Companies use statistical claims data when setting rates for each model. Models that historically have higher number or severity of losses will cost more for specific coverages.
The table below outlines the loss history for Lincoln MKZ vehicles. For each insurance policy coverage type, the claim probability for all vehicles as a whole is set at 100. Numbers that are below 100 indicate a favorable loss history, while numbers above 100 show a trend for more claims or a tendency for losses to be larger than average.
Lincoln MKZ Insurance Loss Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lincoln MKZ 4dr 2WD 137 85 107 95 89 75 Lincoln MKZ 4dr 4WD 140 82 126 99 Lincoln MKZ Hybrid 4dr 148 84 100 74 82 76BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
The information displayed next highlights a range of coverage prices for Lincoln MKZ models. Having a good grasp of how insurance prices are established is important to be able to make smart choices when comparing insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKZ 4-Dr Sedan||$326||$774||$520||$30||$156||$1,806||$151|
|MKZ AWD 4-Dr Sedan||$326||$774||$520||$30||$156||$1,806||$151|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can influence insurance rates considerably.
The information below highlights how deductible selection and can increase or decrease Lincoln MKZ insurance premiums for different age groups. The information is based on a married female driver, full coverage, and no policy discounts are applied.
Rate difference between full and liability-only coverage
The illustration below shows the difference between Lincoln MKZ premium costs with liability coverage only compared to full coverage. Data assumes no claims or driving citations, $100 deductibles, marital status is single, and no discounts are applied.
When to drop comprehensive and collision
There isn’t a steadfast formula of when to drop physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Lincoln MKZ claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after the policy deductible has been paid. If premium cost is more than $500 a year for full coverage, then it could be time to drop full coverage.
There are a few situations where dropping full coverage is not a good idea. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.
Corpus Christi insurance discounts for a Lincoln MKZ
Not too many consumers would say car insurance is affordable, but discounts can save money and there are some available that you may not even be aware of. Some of these discounts will be visible when you purchase, but less common discounts must be specifically requested prior to getting the savings.
- Own a Home – Just owning your own home can help you save on car insurance since owning and maintaining a home is proof of financial responsibility.
- Telematics Data Discounts – Drivers that enable data collection to analyze vehicle usage by installing a telematics device like Allstate’s Drivewise may get a rate reduction if their driving habits are good.
- Anti-theft System – Anti-theft and alarm system equipped vehicles are less likely to be stolen and qualify for as much as a 10% discount.
- Driver’s Education for Students – It’s a good idea to have your young drivers take driver’s ed class in school or through a local driver safety program.
- New Car Discount – Insuring a vehicle that is new can save you some money compared to insuring an older model.
- E-sign – A handful of insurance companies will provide an incentive for buying your policy over the internet.
- Good Student – This discount may save as much as 25% on a Corpus Christi car insurance quote. Earning this discount can benefit you up to age 25.
As a sidenote, most credits do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, it doesn’t quite work that way.
The example below shows the difference between Lincoln MKZ insurance prices with and without discounts applied to the policy premium. The information is based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, multi-car, homeowner, and marriage discounts applied.
To choose companies with discount car insurance rates in Corpus Christi, click this link.
More comparisons equals cheap rates
Consumers leave their current company for a number of reasons such as delays in paying claims, high rates after DUI convictions, denial of a claim or policy cancellation. It doesn’t matter why you want to switch switching insurance companies is not as hard as you think.
Lower-priced insurance in Corpus Christi is possible on the web and also from your neighborhood Corpus Christi agents, so you need to quote Corpus Christi car insurance with both to have the best selection. Some insurance providers do not offer rates over the internet and usually these small insurance companies provide coverage only through local independent agents.
When you buy Corpus Christi car insurance online, make sure you don’t sacrifice coverage to reduce premiums. There are a lot of situations where someone sacrificed physical damage coverage only to regret at claim time that it was a big mistake. The ultimate goal is to purchase a proper amount of coverage for the lowest cost, not the least amount of coverage.
Additional information can be found at these links:
- Safety Features for Your New Car (State Farm)
- Who Has Cheap Auto Insurance for Good Students in Corpus Christi? (FAQ)
- Who Has Cheap Corpus Christi Auto Insurance Rates for Welfare Recipients? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Tools for Teen Driving Safety (State Farm)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)