Cheap Insurance for a Lincoln MKZ in Albuquerque

It’s amazing but a large majority of consumers have stayed with the same insurance company for a minimum of four years, and almost 40% of drivers have never even compared rates from other companies. Consumers in New Mexico could save up to 40% every year just by shopping around, but they just don’t want to compare rates and save money.

The most effective way to get low-cost car insurance rates in Albuquerque is to compare prices annually from providers in New Mexico.

Step 1: Spend some time learning about the different coverages in a policy and the things you can control to keep rates down. Many risk factors that increase rates like speeding tickets, careless driving and an unfavorable credit rating can be amended by making minor changes to your lifestyle.

Step 2: Request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO and State Farm, while independent agents can provide rate quotes from multiple sources.

Step 3: Compare the price quotes to your existing coverage and see if there is a cheaper rate in Albuquerque. If you find a better price and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Notify your current company of your intent to cancel your current auto insurance policy. Submit the application along with any required down payment to the newly selected company. As soon as coverage is bound, put the proof of insurance paperwork in your vehicle.

An important note is to compare similar deductibles and liability limits on every quote and and to get price estimates from as many companies as you can. Doing this guarantees the most accurate price comparison and many rates to choose from.

The companies shown below have been selected to offer price comparisons in Albuquerque, NM. To get the best car insurance in Albuquerque, NM, it’s a good idea that you visit several of them in order to get a fair rate comparison.

Rates and detailed analysis

The table below highlights detailed analysis of insurance prices for Lincoln MKZ models. Being more informed about how rate quotes are determined is important for you to make smart choices when choosing a car insurance company.

Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in zip code location which can raise or lower premiums considerably.

Physical damage deductibles

When comparing car insurance rates, the most common question is how high or low should comp and collision deductibles be. The following insurance rates may aid in understanding the price difference when you select higher and lower insurance deductibles. The first data table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rate quotes do not factor in vehicle location which can affect coverage rates greatly.

Based on these figures, using a $100 deductible would cost the average driver about $28 more each month or $336 every year averaged for all MKZ models than requesting the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go more than 14 months between claims, you would probably save some money if you choose the higher deductible.

The illustration below highlights how deductible choice and can increase or decrease Lincoln MKZ insurance rates for each age group. The costs are based on a single male driver, comp and collision included, and no other discounts are factored in.

Careless drivers pay higher rates

The example below demonstrates how traffic citations and accidents influence Lincoln MKZ insurance costs for different categories of driver ages. The prices are based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

Car insurance rates based on gender

The example below illustrates the difference between Lincoln MKZ auto insurance costs for male and female drivers. The rate quotes are based on a clean driving record, no at-fault accidents, full coverage, $100 deductibles, single marital status, and no discounts are taken into consideration.

Why Smart Buyers Pay Less for Lincoln MKZ Insurance

It’s important that you understand the different types of things that are used to determine the level of your policy premiums. When you understand what impacts premium levels, this allows you to make good choices that could result in lower premium levels.

The itemized list below are just a few of the factors that factor into premiums.

• Infrequent drivers can save – The more you drive every year the higher your rate. Almost all companies calculate prices based upon how you use the vehicle. Cars and trucks that do not get driven very much can get a lower rate than cars that get driven a lot. Incorrect rating for your MKZ may be costing you higher rates. Ask your agent if your insurance policy shows the correct usage for each vehicle, because it can save money.
• Is you employer costing you more? – Occupational choices like military personnel, airline pilots, and miners generally have higher rates than the rest of us in part from stressful work requirements and extremely grueling work hours. On the flip side, occupations such as actors, athletes and the unemployed receive lower rates.
• Vehicles with better crash test results cost less to insure – Vehicles with high crash test scores tend to be cheaper to insure. Vehicles engineered for safety reduce injuries and lower rates of occupant injuries means your insurance company pays less and lower rates for you.
• Prices increase with policy add-ons – There are a lot of extra coverages that you can get tricked into buying on your insurance policy. Coverages like roadside assistance, better glass coverage, and motor club memberships are probably not needed. You may think they are a good idea when buying your policy, but if they’re wasting money get rid of them and save.
• How many coverages with the same company – Many insurance companies afford lower prices to buyers that purchase more than one policy such as combining an auto and homeowners policy. The discount can add up to ten or even up to twenty percent in some cases. If you currently are using one company, drivers will still want to compare Lincoln MKZ rates in Albuquerque to ensure the best deal.

• Lincoln MKZ insurance claim data – Auto insurance companies use past loss statistics for each vehicle to calculate a rate that will offset losses. Vehicles that the data determines to have higher number or severity of losses will have a higher premium rate. The table below demonstrates the collected loss data for Lincoln MKZ vehicles.

  For each type of coverage, the statistical loss for all vehicles averaged together is represented as 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while values that are above 100 indicate higher probability of having a loss or a tendency for claims to be larger.

  
  

  Lincoln MKZ Insurance Loss Statistics

  Specific Lincoln 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	76

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Car insurance is not optional

Despite the high cost of buying insurance for a Lincoln MKZ in Albuquerque, paying for car insurance serves several important purposes.

First, almost all states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability insurance in order to be legal. In New Mexico these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you bought your car with a loan, more than likely the lender will require that you buy full coverage to guarantee payment of the loan. If you default on your policy, the lender will be forced to insure your Lincoln at a much higher rate and force you to pay the higher price.

Third, car insurance protects not only your vehicle but also your assets. It will also provide coverage for most medical and hospital costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, will also pay attorney fees in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance outweigh the cost, especially when you need to use it. According to a 2015 survey, the average American driver is overpaying more than $865 each year so it’s very important to do a rate comparison once a year at a minimum to save money.