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.

Insurance quote for Lincoln MKT in BaltimoreIf 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.

Lincoln MKT Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $386 $716 $556 $32 $166 $1,856 $155
MKT 3.7 AWD $426 $824 $556 $32 $166 $2,004 $167
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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.

Lincoln MKT insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $394 $624 $458 $28 $138 $1,667 $139
MKT 3.7 AWD $434 $718 $458 $28 $138 $1,801 $150
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Lincoln MKT insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $244 $392 $458 $28 $138 $1,260 $105
MKT 3.7 AWD $268 $452 $458 $28 $138 $1,344 $112
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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.

How to decide to raise your deductibles

Average monthly premium for $250 deductibles: $145
Average monthly premium for $1,000 deductibles (subtract): – $109
Monthly savings from raising deductible: $36
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $36
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

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.

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:

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.

Insurance agency in BaltimoreTo 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.

11 E Lexington StBaltimore, MD 21202(443) 869-6424View Map

7840 Eastern AveBaltimore, MD 21224(410) 282-1111View Map

1726 Reisterstown Rd #220Baltimore, MD 21208(410) 602-2636View Map

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.

6630 Baltimore National Pike #100bBaltimore, MD 21228(410) 744-7733View Map

101 St Helena AveBaltimore, MD 21222(410) 288-4120View Map

Mindy Andreychek – State Farm Insurance Agent
8502 Harford Rd Ste BBaltimore, MD 21234(410) 668-7600View Map

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.

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.

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