It’s an obvious conclusion that insurance companies want to keep you from comparing rates. Insureds who get price comparisons will presumably buy a different policy because there is a high probability of finding coverage at a more affordable price. A study discovered that drivers who make a habit of shopping around saved an average of $3,500 over four years as compared to drivers who never shopped around for lower prices.
If saving money on insurance in Aurora is your ultimate target, learning how to quote and compare coverages can help simplify the task of finding more affordable coverage.
The best way to find cheaper prices for Lincoln MKZ insurance in Aurora is to start comparing rates regularly from companies who sell insurance in Colorado.
First, take a few minutes and learn about how companies set rates and the steps you can take to prevent expensive coverage. Many policy risk factors that result in higher prices like high-risk driving behaviors and a substandard credit score can be eliminated by making minor changes in your lifestyle.
Second, quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple sources.
Third, compare the new rate quotes to your existing rates to determine if you can save on MKZ insurance. If you can save money and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
An important bit of advice to remember is to try to use similar deductibles and liability limits on each price quote and and to analyze as many different companies as possible. This helps ensure the most accurate price comparison and maximum price selection.
Finding affordable car insurance coverage in Aurora is actually not that difficult if you follow our advice. In essence, everyone who shops for car insurance will get a lower-priced policy. But Colorado car owners should learn how insurance companies market insurance on the web because rates are impacted by many factors.
The most recommended method to compare rate quotes for Lincoln MKZ insurance in Aurora is to take advantage of the fact auto insurance companies will pay a fee to provide you with a free rate quote. To start a quote, the only thing you need to do is provide information like if you have a valid license, how much education you have, your credit rating estimate, and the ages of drivers. Your information is submitted instantly to multiple top-rated companies and you should receive rate quotes immediately.
If you would like to start a quote now, click here and find out if lower rates are available in Aurora.
The auto insurance companies shown below have been selected to offer free rate quotes in Aurora, CO. To find the best cheap car insurance in Aurora, it’s highly recommended you click on several of them in order to find the most affordable rates.
Rates and other information
The coverage table displayed below showcases different coverage prices for Lincoln MKZ models. Being aware of how policy rates are determined can benefit drivers when making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $162 | $382 | $448 | $26 | $134 | $1,152 | $96 |
| MKZ AWD 4-Dr Sedan | $162 | $382 | $448 | $26 | $134 | $1,152 | $96 |
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Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Price information does not factor in zip code location which can impact coverage rates noticeably.
How high should deductibles be?
One of the most common auto insurance questions is how high should your deductibles be. The figures shown below show how much more you’ll pay when you choose different physical damage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $342 | $740 | $396 | $24 | $118 | $1,645 | $137 |
| MKZ AWD 4-Dr Sedan | $342 | $740 | $396 | $24 | $118 | $1,645 | $137 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $190 | $390 | $396 | $24 | $118 | $1,118 | $93 |
| MKZ AWD 4-Dr Sedan | $190 | $390 | $396 | $24 | $118 | $1,118 | $93 |
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can alter rates considerably.
Based on the data above, we can derive that using a $100 deductible costs an average of $44 more each month or $528 every year than quoting the higher $1,000 deductible. Because you would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 20 months between claims, you would save more money if you decide on a higher deductible.
Difference between full coverage and liability only rates
The chart below illustrates the difference between Lincoln MKZ car insurance rates with liability coverage only compared to full coverage. The information is based on no claims, a clean driving record, $250 deductibles, marital status is single, and no policy discounts are applied.
When to drop comprehensive and collision
There is no definitive rule to delete physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s say your Lincoln MKZ replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after the deductible is paid. If you are currently paying more than $200 annually for physical damage coverage, then it might be time to buy liability only.
There are a few situations where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Insurance protects more than just your car
Despite the high insurance cost for a Lincoln MKZ in Aurora, insurance is a good idea for several reasons.
- Most states have compulsory liability insurance requirements which means state laws require specific limits of liability in order to be legal. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your vehicle has a loan, most lenders will stipulate that you have full coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank will be required to insure your Lincoln at an extremely high rate and force you to pay the higher premium.
- Insurance preserves not only your car but also your financial assets. Insurance will pay for medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you cause an accident and are sued. If damage is caused by hail or an accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of carrying adequate insurance outweigh the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer is overpaying over $700 annually so shop around each time the policy renews to make sure the price is not too high.
Educate yourself about insurance coverages
Learning about specific coverages of your policy can be of help when determining the right coverages for your vehicles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the normal coverages found on most insurance policies.
Liability
This coverage will cover damages or injuries you inflict on people or other property that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 25/50/15 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $15,000 of coverage for damaged property.
Liability coverage protects against claims like repair costs for stationary objects, bail bonds, pain and suffering and attorney fees. How much liability should you purchase? That is your choice, but consider buying as high a limit as you can afford. Colorado requires minimum liability limits of 25/50/15 but you should consider buying better liability coverage.
The next chart shows why buying minimum limits may not be high enough to cover claims.
Comprehensive auto coverage
Comprehensive insurance covers damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like theft, vandalism, falling objects and hail damage. The most you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Medical payments and PIP coverage
Med pay and PIP coverage pay for short-term medical expenses for things like hospital visits, rehabilitation expenses and chiropractic care. They are often utilized in addition to your health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Collision insurance
This will pay to fix damage to your MKZ resulting from colliding with an object or car. A deductible applies and then insurance will cover the remainder.
Collision coverage pays for things such as hitting a parking meter, backing into a parked car and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to choose a higher deductible on your MKZ to save money on collision insurance.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Lincoln MKZ.
Due to the fact that many Colorado drivers carry very low liability coverage limits (Colorado limits are 25/50/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.