Think you have an under-performing, overpriced car insurance policy? Believe me when I say there are lots of Albuquerque residents who feel the same.
It’s an obvious assumption that insurance companies don’t want you to look for a cheaper policy. Drivers who get price quotes annually are very likely to switch car insurance companies because they have good chances of finding discount prices. Surprisingly, a recent survey revealed that consumers who compared prices once a year saved an average of $70 a month compared to people who never shopped around for cheaper prices.
If finding the best price on auto insurance is the reason you’re here, then knowing how to find companies and compare car insurance can help you succeed in saving money. Having so many insurance companies to choose from that have cheap insurance for a Lincoln MKX in Albuquerque, it is hard for the average consumer to choose the cheapest car insurance provider.
The providers in the list below can provide free rate quotes in New Mexico. If you want to find the best cheap auto insurance in New Mexico, we recommend you visit as many as you can to get the lowest price.
Lower rate quotes on Lincoln MKX insurance in Albuquerque with these discounts
Insurance can be pricey, but you might find some hidden discounts to reduce the price significantly. Some of these discounts will be visible at the time of purchase, but a few need to be inquired about prior to receiving the credit. If you do not check that you are getting every discount available, you’re paying more than you need to.
- Organization Discounts – Belonging to qualifying employment or professional organizations could earn you a nice discount on your next renewal.
- Telematics Data Discounts – Insureds that choose to allow their insurance company to analyze their driving habits through the use of a telematics system like Allstate’s Drivewise could see a rate decrease if they exhibit good driving behavior.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use their safety belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Payment Method – If you pay your entire premium ahead of time rather than paying in monthly installments you could save 5% or more.
- Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices help deter theft and will save you 10% or more on MKX insurance in Albuquerque.
- Accident Forgiveness Coverage – This one is not really a discount per se, but a few companies such as GEICO, State Farm, and Progressive permit an accident without getting socked with a rate hike if you are claim-free for a specific time period.
- Braking Control Discount – Cars and trucks with ABS and/or traction control have fewer accidents and qualify for as much as a 10% discount.
- Military Rewards – Having a family member in the military may qualify for rate reductions.
- Student in College – Kids living away from Albuquerque attending college without a vehicle on campus can be insured at a reduced rate.
- Auto/Home Discount – If you combine your homeowners and auto policies with one insurance company you could earn a discount of over 10 percent off each policy depending on the company.
As a footnote on discounts, most credits do not apply to the whole policy. Some only reduce the cost of specific coverages such as comp or med pay. So when it seems like having all the discounts means you get insurance for free, insurance companies aren’t that generous.
The chart below illustrates the difference between Lincoln MKX car insurance rates with and without policy discounts. Data assumes a female driver, a clean driving record, no at-fault accidents, New Mexico state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-policy, claim-free, safe-driver, and multi-car discounts applied.
A list of insurance companies and some of their more popular discounts include:
- Progressive discounts include multi-policy, multi-vehicle, continuous coverage, online quote discount, good student, and online signing.
- Farmers Insurance offers premium reductions for business and professional, teen driver, electronic funds transfer, alternative fuel, and bundle discounts.
- Farm Bureau may have discounts that include 55 and retired, multi-policy, multi-vehicle, driver training, and safe driver.
- State Farm may offer discounts for safe vehicle, multiple autos, anti-theft, passive restraint, Drive Safe & Save, and good driver.
- GEICO offers discounts including multi-vehicle, good student, membership and employees, emergency military deployment, military active duty, and anti-theft.
- SAFECO has savings for drive less, accident prevention training, anti-lock brakes, teen safe driver, and bundle discounts.
- Liberty Mutual includes discounts for safety features, preferred payment discount, newly retired, hybrid vehicle, new move discount, good student, and teen driver discount.
If you need lower rates, check with all companies you are considering to apply every possible discount. A few discounts may not apply to policies in your state.
Lincoln MKX coverage statistics
The coverage table below showcases different prices for Lincoln MKX models. Being more informed about how prices are established can assist in making smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rate quotes do not factor in vehicle location which can affect rates substantially.
The diagram below shows how choosing a deductible and can increase or decrease Lincoln MKX yearly insurance costs for different categories of driver ages. The price estimates are based on a single female driver, comp and collision included, and no other discounts are factored in.
Annual premiums for males versus females in Albuquerque
The diagram below visualizes the comparison of Lincoln MKX annual premium costs for male and female drivers. The price estimates are based on no claims or driving citations, full coverage, $250 deductibles, drivers are single, and no policy discounts are applied.
Ratings for Albuquerque car insurance companies
Finding the right insurance provider can be difficult considering how many companies there are in Albuquerque. The company information in the next section could help you analyze which auto insurers you want to consider purchasing a policy from.
Top 10 Albuquerque Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
What Determines Lincoln MKX Insurance Rates?
Multiple criteria are used in the calculation when you get a price on insurance. Some factors are common sense such as your driving history, but others are not quite as obvious such as your credit history or your financial responsibility. Smart consumers have a good feel for some of the things that help determine your policy premiums. When consumers understand what impacts premium levels, this allows you to make educated decisions that will entitle you to better car insurance rates.
The following are some of the most common factors used by companies to determine premiums.
Do you have a stressful vocation? – Do you work in a high-stress field? Careers such as lawyers, business owners, and medical professionals are shown to have higher premium rates in part from intense work requirements and extremely grueling work hours. On the flip side, jobs such as farmers, athletes and retirees generally pay rates lower than average.
Optional features impact car insurance rates – Owning a car with anti-theft technology or alarm system can help lower your premiums. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder your car from being stolen.
Safer occupants lowers rates – Safe vehicles can get you lower premiums. Vehicles built for safety reduce injuries and lower rates of occupant injuries translates directly to fewer claims and lower rates for you.
Fewer miles means better rates – The higher the mileage driven in a year’s time the more it will cost to insure it. Many insurance companies charge to insure your cars based on how the vehicle is used. Vehicles not used for work or commuting cost less to insure than those that get driven frequently. Verify your declarations sheet is showing how each vehicle is driven, because improper ratings can cost you money. An improperly rated MKX can cost quite a bit.
Insurance losses for a Lincoln MKX – Insurers include the past claim trends for vehicles to calculate a rate that offsets possible losses. Vehicles that the data shows to have higher loss trends will have higher rates. The table below outlines the collected loss data for Lincoln MKX vehicles.
For each policy coverage type, the statistical loss for all vehicles averaged together equals 100. Values under 100 suggest a better than average loss history, while numbers shown that are more than 100 indicate more frequent claims or larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKX 4dr 2WD||77||80||67||66||81||78|
|Lincoln MKX 4dr 4WD||86||91||92||76||79||87|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years