Cheapest Lincoln MKT Insurance in Virginia Beach

Insurance quote for Lincoln MKT in Virginia BeachHow many times have you told yourself it’s time to shop around for low-cost Lincoln MKT insurance in Virginia Beach? When searching for lower-cost insurance, are you overwhelmed by the sheer number of auto insurance companies in Virginia Beach? Lot’s of other people are too. Virginia drivers have such a large number of options that it can easily turn into a real challenge to find lower premium rates on Lincoln MKT insurance. Lots of people think Virginia Beach is a great place to live, but getting gouged by high auto insurance rates can make it hard for many drivers to keep a tight budget.

A recent auto insurance study discovered that most auto insurance buyers have purchased from the same company for well over three years, and nearly 40% of drivers have never compared rates to find cheap insurance. Virginia insurance shoppers can save roughly 45% each year just by getting comparison quotes, but they won’t spend time to compare rates.

You should make it a habit to get comparison quotes before your policy renews because auto insurance prices tend to go up over time. Even if you got the best price on Lincoln MKT insurance in Virginia Beach at your last renewal other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because we’re going to demonstrate how to quote online to find great coverage at a great price.

If you are already insured, you will most likely be able to reduce premiums using the following tips. This article’s intent is to introduce you to the best way to buy inexpensive insurance and also save some money in the process Nevertheless, Virginia car owners benefit from understanding how big insurance companies market insurance on the web because it varies considerably.

When shopping for cheaper Virginia Beach auto insurance quotes, there are a couple of ways to obtain and compare prices from all the different companies. The fastest way to compare rates is to use the internet to compare rates.

When price shopping your coverage, comparing a wide range of rates will enable you to find the best offered rates. Some smaller insurers do not give price estimates online, so you also need to get rates on coverage from those companies, too.

The following companies can provide free rate quotes in Virginia. If you want to find the cheapest car insurance in Virginia Beach, we recommend you compare several of them to get the most affordable price.

Analysis of Lincoln MKT rates

The coverage information displayed below covers a range of policy rates for Lincoln MKT models. Learning as much as possible about how rates are calculated is important for making informed decisions when comparing rates.

Lincoln MKT Insurance Rates in Virginia Beach, VA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $240 $486 $328 $20 $98 $1,172 $98
MKT 3.7 AWD $264 $558 $328 $20 $98 $1,268 $106
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Estimates do not factor in garaging location in Virginia Beach which can raise or lower coverage rates considerably.

How high should deductibles be?

One of the more difficult decisions when buying auto insurance is where to set your physical damage deductibles. The premium rates below summarize the difference in cost when you buy lower versus higher physical damage coverage deductibles. The first pricing table uses a $100 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Lincoln MKT insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $278 $472 $290 $18 $88 $1,171 $98
MKT 3.7 AWD $306 $542 $290 $18 $88 $1,269 $106
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Lincoln MKT insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKT 3.7 2WD $204 $318 $290 $18 $88 $918 $77
MKT 3.7 AWD $224 $366 $290 $18 $88 $986 $82
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price information does not factor in the specific area where the vehicle is garaged which can affect premiums substantially.

We can estimate from the data above that using a $100 deductible will cost in the ballpark of $22 more each month or $264 every year averaged for all MKT models than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you have more than 18 months between claims, you would come out ahead if you elect the higher deductible.

How to decide to raise your deductibles

Average monthly premium for $100 deductibles: $102
Average monthly premium for $500 deductibles (subtract): – $80
Monthly savings from raising deductible: $22
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $22
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

The Lincoln MKT Insurance Premium Equation

Many factors are taken into consideration when you get your auto insurance bill. A few of the factors are predictable like your driving record, but some are less obvious such as your marital status or your vehicle rating.

Car insurance is not optional in Virginia

Despite the high cost, car insurance may not be optional for several reasons.

The benefits of buying car insurance definitely exceed the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is currently overpaying as much as $825 a year so it’s very important to do a rate comparison at every renewal to be sure current rates are still competitive.