If you want to find the absolute lowest rates, then the best way to get more affordable car insurance rates is to compare prices once a year from different companies who can sell car insurance in Fort Wayne. Rate comparisons can be done by following these guidelines.
Step 1: Spend some time learning about the different coverages in a policy and the factors you can control to prevent rate increases. Many factors that result in higher prices like traffic tickets, fender benders, and a poor credit rating can be controlled by being financially responsible and driving safely. This article provides ideas to get lower rates and get discounts that may be overlooked.
Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like GEICO or Allstate, while independent agencies can provide rate quotes from multiple sources.
Step 3: Compare the price quotes to the price on your current policy to see if switching to a new carrier will save money. If you can save money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
The key aspect of shopping around is to try to compare similar limits and deductibles on each quote and to quote with as many companies as possible. Doing this helps ensure the most accurate price comparison and a good representation of prices.
It’s well known that auto insurance companies want to keep you from comparing rates. People who shop around for the cheapest rate will probably switch auto insurance companies because the odds are good of finding a lower rate. Surprisingly, a recent survey revealed that consumers who did price comparisons regularly saved $850 each year compared to those who never shopped around for lower prices.
If finding the lowest price on car insurance is the reason for your visit, then learning about the best ways to shop for auto insurance can help make the process easier.
Finding more affordable Fort Wayne car insurance quotes is actually easier than you may think. All you need to do is take the time to compare rate quotes online with multiple companies.
Doing online rates comparisons is so easy that it makes it obsolete to drive around to insurance agencies in your area. Comparing Lincoln MKX insurance rate quotes online has reduced the need for local agents unless you have a complicated situation and need the peace of mind that only a licensed agent can provide. However, consumers can find lower rates online and still use a local agent.
The providers in the list below are ready to provide free quotes in Fort Wayne, IN. If you want cheaper car insurance in Fort Wayne, IN, it’s highly recommended you visit two to three different companies to find the most competitive car insurance rates.
Lower rates by qualifying for discounts
Insurance can cost an arm and a leg, but companies offer discounts that you may not even know about. Some discounts will apply when you complete an application, but some need to be asked about before you will receive the discount.
- Save over 55 – If you’re over the age of 55, you may be able to get a slight reduction on a Fort Wayne auto insurance quote.
- Passive Restraint Discount – Options like air bags or automatic seat belts may qualify for discounts of up to 25% or more.
- New Car Discount – Insuring a new MKX can be considerably cheaper because newer vehicles are generally safer.
- Early Signing – Select insurance companies give a discount for switching policies before your current coverage expires. It can save you around 10%.
- Resident Student – Children living away from Fort Wayne attending college and don’t have a car may qualify for this discount.
- Seat Belt Discounts – Forcing all vehicle occupants to wear their seat belts can save 10% or more on medical payment and PIP coverage.
- Paperless Signup – Some companies give back up to $50 for buying a policy and signing up over the internet.
A little note about advertised discounts, most credits do not apply to the entire cost. Most cut specific coverage prices like comp or med pay. So even though it sounds like adding up those discounts means a free policy, insurance companies aren’t that generous.
The illustration below shows the difference between Lincoln MKX premium costs with and without some available policy discounts. The premium estimates are based on a male driver, no claims or violations, Indiana state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, homeowner, safe-driver, multi-car, and marriage discounts applied.
A few of the larger companies and some of the premium reductions they offer are:
- American Family discounts include multi-vehicle, early bird, good student, TimeAway discount, defensive driver, and good driver.
- Nationwide has discounts for business or organization, easy pay, defensive driving, accident-free, Farm Bureau membership, anti-theft, and good student.
- MetLife has savings for claim-free, multi-policy, good driver, good student, and defensive driver.
- 21st Century offers discounts including defensive driver, automatic seat belts, theft prevention, air bags, early bird, 55 and older, and teen driver.
- Farmers Insurance includes discounts for distant student, switch companies, youthful driver, multi-car, and teen driver.
- Allstate may include discounts for premier plus, eSmart discount, defensive driver, 55 and retired, and farm vehicle.
When getting free Fort Wayne auto insurance quotes, it’s a good idea to every insurance company the best way to save money. Some discounts listed above might not be offered in your area.
Rates and statistics
The premium table displayed next highlights estimates of insurance coverage prices for Lincoln MKX models. Having knowledge of how car insurance premiums are figured can assist in making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $152 | $358 | $318 | $18 | $94 | $940 | $78 |
| MKX AWD | $172 | $358 | $318 | $18 | $94 | $960 | $80 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in vehicle location which can decrease or increase rates significantly.
Full coverage rates vs. liability-only in Fort Wayne
The chart below visualizes the comparison of Lincoln MKX insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no policy discounts are applied.
Are you wasting money paying for full coverage?
There is no exact rule for phasing out full coverage, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s pretend your Lincoln MKX replacement cost is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after the policy deductible has been paid. If premiums are more than $600 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some scenarios where eliminating full coverage is not a good idea. 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 totaled, you should not consider dropping full coverage.
What is the best car insurance company in Fort Wayne?
Picking the right company is difficult considering how many choices drivers have in Fort Wayne. The information shown below could help you select which car insurance providers you want to consider buying from.
Top 10 Fort Wayne Car Insurance Companies Ranked by Customer Service
- Nationwide
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Travelers
- Liberty Mutual
- GEICO
- Erie Insurance
- Allstate
Top 10 Fort Wayne Car Insurance Companies by A.M. Best Rank
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Get Lower-cost Insurance Premiums by Understanding These Factors
Lots of factors are part of the calculation when you get your auto insurance bill. Some factors are common sense like a motor vehicle report, but other criteria are not quite as obvious such as whether you are married and annual miles driven. Consumers need to have an understanding of the factors that are used to determine the rates you pay for car insurance. If you have a feel for what impacts premium levels, this enables you to make decisions that could result in much lower annual insurance costs.
Listed below are just a few of the factors used by companies to determine your prices.
- More people means more accidents – Residing in less populated areas can save you money when insuring your vehicles. City drivers have more auto accidents and longer commutes to work. Lower population means fewer accidents in addition to fewer liability claims.
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Men pay more for insurance coverage – Over the last 30 years, statistics show that females tend to be a little less risky than males. However, don’t assume that males are worse at driving than females. Women and men are in auto accidents in similar percentages, but the males cause more damage. Not only are claims higher, but men receive more major tickets such as reckless driving.
The information below shows the comparison of Lincoln MKX car insurance rates for male and female drivers. The data assumes no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.
- Lower rates by increasing physical damage deductibles – Coverage for physical damage, also called ‘full coverage’, helps pay for damage to your vehicle. Some coverage claims could be colliding with a building, hitting a deer, and damage from a fallen tree branch. Physical damage deductibles are the amount of money you are willing to pay out-of-pocket if a covered claim is submitted. The higher the amount you are required to pay out-of-pocket, the better rate you will receive.
- Safer occupants lowers prices – Vehicles with high crash test scores get lower rates. Vehicles built for safety result in less severe injuries and fewer serious injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders.
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Type of vehicle determines base rates – The type of vehicle you need insurance for makes a huge difference in your rates. The lowest performance passenger vehicles generally receive the lowest base rates, but other factors influence the final cost greatly.
The following chart assumes a married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It shows Lincoln MKX policy rates compared to other vehicles that have different performance rating factors.
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How old are your drivers? – Drivers with little experience are statistically shown to be more careless in a vehicle therefore car insurance rates are much higher. Older drivers are proven to be safer behind the wheel, tend to file fewer claims, and are safer drivers.
The following chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.
- Liability protection is critical – Your policy’s liability coverage is the coverage that protects you when you are responsible for causing personal injury or damage in an accident. This coverage provides for a legal defense to defend your case. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should make sure they buy enough to cover all assets.
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Lincoln MKX insurance claim data – Car insurance companies analyze the history of losses in order to profitably underwrite each model. Models that the data determines to have higher loss trends will cost more for coverage. The table below outlines the actual insurance loss data for Lincoln MKX vehicles.
For each coverage category, the claim amount for all vehicles, without regard to make or model, is a value of 100. Values that are 100 or less are indicative of better than average losses, while numbers that are greater than 100 point to more losses or an increased chance of larger losses than average.
Lincoln MKX Insurance Loss Statistics 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 BETTERAVERAGEWORSEStatistics from IIHS.org for 2013-2015 Model Years