To save the most money, the best way to save on Lincoln MKS insurance in Madison is to compare prices once a year from different companies who provide auto insurance in Wisconsin.
- First, try to learn a little about how companies price auto insurance and the measures you can control to prevent high rates. Many factors that cause rate increases like high-risk driving behaviors and a low credit score can be improved by making minor changes in your lifestyle.
- Second, compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive or State Farm, while agents who are independent can quote rates from multiple sources.
- Third, compare the quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate, ensure coverage does not lapse between policies.
- Fourth, give notification to your agent or company to cancel your current auto insurance policy and submit the completed application along with a down payment to the newly selected company. Make sure you store the proof of insurance certificate in an easily accessible location.
A good tip to remember is that you’ll want to compare the same deductibles and limits on every price quote and and to get price estimates from as many companies as possible. This helps ensure the most accurate price comparison and many rates to choose from.
Amazingly, a recent NerdWallet.com study showed that the vast majority of insurance customers have bought insurance from the same company for more than four years, and practically 40% of insurance customers have never compared rates from other carriers. Many consumers in Wisconsin could save $370 each year, but they don’t believe the rate savings if they just switched companies.
Affordable Lincoln MKS insurance in Madison
Insurance is easily one of your largest bills, but you might find some hidden discounts that could drop your premiums quite a bit. Some discounts will apply when you complete an application, but a few need to be specially asked for prior to getting the savings.
- Discounts for Cautious Drivers – Insureds who avoid accidents can save up to 40% or more on their Madison auto insurance quote than their less cautious counterparts.
- Club Memberships – Affiliation with specific professional or occupational memberships or organizations is a good way to get lower rates on your bill.
- Claim-Free Discount – Drivers with accident-free driving histories pay much less when compared with frequent claim filers.
- Include Life Insurance and Save – If the company offers life insurance, you could get a lower price if you buy a life insurance policy as well.
- Senior Citizens – Seniors could receive a discount up to 10%.
- Air Bag Discount – Cars that have air bags may get savings up to 30%.
- Madison Homeowners Discount – Simply owning a home can save you money since home ownership is proof that your finances are in order.
- Full Payment Discount – If you pay your bill all at once rather than paying monthly you can avoid monthly service charges.
It’s important to understand that most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like liability, collision or medical payments. Just because you may think it’s possible to get free car insurance, you won’t be that lucky.
The illustration below illustrates the difference between Lincoln MKS insurance costs with and without some available policy discounts. The premium estimates are based on a female driver, no violations or accidents, Wisconsin 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, marriage, safe-driver, claim-free, homeowner, and multi-car discounts applied.
Some of the larger companies that may have most of the discounts above include:
If you are trying to find affordable Lincoln MKS insurance quotes, ask each insurance company which discounts you qualify for. Some of the discounts discussed earlier might not be offered in every state. If you would like to choose from a list of insurers who offer free Lincoln MKS insurance quotes in Madison, click here to view.
The best way to get rate comparisons for Lincoln MKS insurance in Madison is to understand all the major auto insurance companies pay for the opportunity to give rate comparisons. The one thing you need to do is provide the companies a bit of rating information including if you are currently licensed, what you do for a living, if you went to college, and an estimate of your credit level. Those rating factors gets transmitted to insurance carriers in your area and you will get price comparisons very quickly.
To find lower lower-cost Lincoln MKS insurance rates now, click here then complete the form.
The car insurance companies shown below can provide free rate quotes in Madison, WI. If you want the best cheap auto insurance in WI, it’s a good idea that you click on several of them to get the best price comparison.
Premium rates and analysis
The premium information shown below highlights estimates of insurance rates for Lincoln MKS models. Having insight into how premiums are determined can assist in making decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKS AWD 4-Dr Sedan | $242 | $476 | $200 | $12 | $60 | $990 | $83 |
| MKS 4-Dr Sedan | $242 | $476 | $200 | $12 | $60 | $990 | $83 |
| MKS Ecoboost AWD 4-Dr Sedan | $266 | $538 | $200 | $12 | $60 | $1,076 | $90 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Premium amounts do not factor in specific garaging location which can revise coverage rates considerably.
Difference between full coverage and liability only rates
The example below visualizes the comparison of Lincoln MKS insurance costs with full physical damage coverage and with liability coverage only. Data assumes no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are applied.
When to stop paying for full coverage
There is no definitive formula of when to eliminate physical damage coverage, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s pretend your Lincoln MKS replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $3,000 after you pay the deductible. If it’s costing in excess of $300 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some circumstances where only buying liability is not recommended. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Compare rate quotes but still have a local Madison insurance agent
Certain consumers just prefer to talk to a local agent and doing so can bring peace of mind Professional agents are highly skilled in risk management and help submit paperwork. One of the best bonuses of comparing rate quotes online is the fact that you can find the lowest rates and still have an agent to talk to. And providing support for local insurance agents is important especially in Madison.
After completing this quick form, your insurance data is instantly submitted to agents in your area that provide free Madison auto insurance quotes for your insurance coverage. You never need to visit any agencies due to the fact that quote results will go directly to your email. If you want to get a comparison quote from a particular provider, you would need to visit that company’s website to submit a rate quote request.
Choosing a insurance company requires you to look at more than just a cheap price. These are some valid questions you should ask.
- Is their price quote a firm figure or are their hidden costs?
- How will an accident affect your rates?
- Where are claims handled?
- Which members of your family are coverage by the policy?
- How often do they review policy coverages?
- What insurance company do they write the most business with?
- Will they take your side in the event of a claim?
- Do they regularly work with personal auto policies in Madison?
Once you have received positive feedback to these questions and locked in a price quote, it’s possible that you found an insurance company that meets the requirements to properly insure your vehicles.
Protect more than your Lincoln vehicle
Even though it’s not necessarily cheap to insure a Lincoln in Madison, insuring your vehicle is required by state law in Wisconsin and it also provides benefits you may not be aware of.
- Most states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage in order to license the vehicle. In Wisconsin 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.
- If you took out a loan on your MKS, almost every bank will stipulate that you have physical damage coverage to ensure they get paid if you total the vehicle. If you default on your policy, the bank may buy a policy for your Lincoln at a much higher premium rate and require you to fork over much more than you were paying before.
- Insurance protects both your vehicle and your assets. It also can pay for medical bills for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay attorney fees if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car are definitely more than the cost, specifically if you ever have a liability claim. Today the average American driver is overpaying more than $850 per year so you should quote rates every year to help ensure money is not being wasted.
Insurance coverages explained
Understanding the coverages of insurance aids in choosing the best coverages and the correct deductibles and limits. Policy terminology can be ambiguous and reading a policy is terribly boring. These are the normal coverages found on most insurance policies.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like fire damage, vandalism, damage from a tornado or hurricane and hail damage. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Uninsured Motorist or Underinsured Motorist insurance
This provides protection when other motorists are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Because many people have only the minimum liability required by law (25/50/10 in Wisconsin), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally these coverages are identical to your policy’s liability coverage.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance pay for bills like pain medications, surgery, dental work and ambulance fees. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers you and your occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible
Liability auto insurance
This will cover damage or injury you incur to people or other property by causing an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 25/50/10 that means you have $25,000 bodily injury coverage, $50,000 for the entire accident, and a total limit of $10,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.
Liability can pay for things such as loss of income, repair costs for stationary objects, medical expenses, emergency aid and court costs. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford. Wisconsin requires minimum liability limits of 25/50/10 but you should think about purchasing higher limits.
The next chart shows why buying minimum limits may not be adequate.
Auto collision coverage
Collision coverage pays for damage to your MKS resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against things like hitting a parking meter, sustaining damage from a pot hole, crashing into a ditch, driving through your garage door and crashing into a building. This coverage can be expensive, so you might think about dropping it from older vehicles. It’s also possible to raise the deductible on your MKS to save money on collision insurance.
Best auto insurance in Madison
Choosing the top insurance provider can be rather challenging considering how many different companies sell coverage in Madison. The company rank data below could help you choose which auto insurers you want to consider when comparing rates.
Top 10 Madison Car Insurance Companies Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- Liberty Mutual
- State Farm
- Allstate
- Safeco Insurance
- Travelers
- 21st Century
Top 10 Madison Car Insurance Companies Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- AAA Insurance
- Safeco Insurance
- GEICO
- Esurance
- The General
Persistence will pay off
As you quote Madison auto insurance, it’s very important that you do not sacrifice coverage to reduce premiums. Too many times, an insured cut full coverage to discover at claim time that their decision to reduce coverage ended up costing them more. Your objective should be to find the BEST coverage at the best possible price while still protecting your assets.
We just showed you a lot of ways to find cheaper Lincoln MKS insurance in Madison. It’s most important to understand that the more you quote Madison auto insurance, the better chance you’ll have of finding the cheapest Lincoln MKS rate quotes. You may even be surprised to find that the lowest auto insurance rates are with the smaller companies. These companies can often provide lower premium rates in certain areas as compared to the big name companies such as State Farm and Allstate.
For more information, feel free to browse the resources below:
- Where can I buy Insurance? (Insurance Information Institute)
- Who Has Affordable Madison Auto Insurance Rates for a Honda Accord? (FAQ)
- What Auto Insurance is Cheapest in Madison, Wisconsin? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers Requiring a SR22 in Madison? (FAQ)
- What Insurance is Cheapest for Hybrid Vehicles in Madison? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Shopping for a Safe Car (Insurance Information Institute)
- Tools for Teen Driving Safety (State Farm)