Amazingly, almost 70% of insureds have been with the same company for four years or more, and nearly half have never shopped around. The average driver in Newark could save approximately $716 every year just by comparing rates, but they assume it’s a waste of time to compare rates and save money.
The best way to get more affordable Lincoln MKT insurance is to start doing a yearly price comparison from different companies who sell insurance in Newark.
- Step 1: Take a little time to learn about policy coverages and the measures you can take to drop your rates. Many rating criteria that are responsible for high rates like accidents, traffic tickets, and a low credit score can be amended by being financially responsible and driving safely. Keep reading for information to find cheap prices and find missing discounts.
- Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO and State Farm, while agents who are independent can provide prices for many different companies. Compare rates
- Step 3: Compare the new rate quotes to your current policy and see if you can save money. If you find a better price and buy the policy, make sure there is no lapse in coverage.
One important bit of advice is to try to compare similar deductibles and liability limits on each price quote and and to compare as many auto insurance providers as possible. This ensures a fair rate comparison and a complete rate analysis.
If you currently have insurance, you will surely be able to reduce the price you pay using the ideas you’re about to read. Finding the cheapest insurance coverage in Newark is really quite simple as long as you have a good starting point. But New Jersey consumers must comprehend the methods companies use to set your policy premium.
Buy Newark Lincoln MKT insurance online
When comparing car insurance rates, know that obtaining a wide range of quotes will improve the odds of getting more affordable insurance.
The companies shown below provide comparison quotes in New Jersey. To buy cheap car insurance in Newark, NJ, it’s a good idea that you get rates from several of them to get the best price comparison.
Premium rates and analysis
The coverage information below showcases estimates of insurance policy prices for Lincoln MKT models. Learning a little about how auto insurance prices are figured can assist in making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $288 | $464 | $544 | $32 | $162 | $1,490 | $124 |
| MKT 3.7 AWD | $318 | $534 | $544 | $32 | $162 | $1,590 | $133 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Rate information does not factor in Newark location which can increase or decrease rates substantially.
Rate comparison for different deductibles
One of the hardest decisions when shopping for insurance is at what level do you set your deductibles. The premium rates below can help you understand the rate fluctuation when you choose different deductibles. The first set of rates uses a $100 deductible and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $520 | $880 | $544 | $32 | $162 | $2,163 | $180 |
| MKT 3.7 AWD | $574 | $1014 | $544 | $32 | $162 | $2,351 | $196 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKT 3.7 2WD | $380 | $594 | $544 | $32 | $162 | $1,712 | $143 |
| MKT 3.7 AWD | $418 | $684 | $544 | $32 | $162 | $1,840 | $153 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Table data does not factor in vehicle garaging location which can affect price quotes significantly.
Using the premium rates above, we can conclude that using a $100 deductible costs roughly $40 more each month or $480 each year averaged for all MKT models than requesting the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 10 months between claim filings, you would probably be better off if you opt for a higher deductible.
The chart below highlights how deductible selection and can change Lincoln MKT insurance rates for each age group. Data assumes a single female driver, full physical damage coverage, and no other discounts are factored in.
Careless drivers pay higher rates
The chart below shows how traffic citations and accidents can impact Lincoln MKT insurance rates for different categories of driver ages. The premiums assume a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
Full coverage versus liability only rates
The example below compares Lincoln MKT premium costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no violations or accidents, $500 deductibles, drivers are single, and no discounts are factored in.
When to drop full coverage
There isn’t a steadfast formula to stop buying comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Lincoln MKT replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after you pay the deductible. If it’s costing in excess of $300 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where dropping physical damage coverage is not a good idea. If you haven’t satisfied your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Exclusive and independent auto insurance agents
Some consumers just prefer to sit down and talk to an agent and doing that can be a smart decision One of the benefits of getting free rate quotes online is you may find cheaper premium rates and still buy from a local agent. Supporting local insurance agencies is definitely important in Newark.
After completing this quick form, your insurance data is submitted to local insurance agents in Newark who will give competitive quotes for your car insurance coverage. There is no need to contact any agents since price quotes are sent directly to your email. Get lower rates without requiring a lot of work. If you need to compare rates from a specific company, feel free to jump over to their website and complete a quote there.
Newark car insurance agents are either independent or exclusive
If you would like to find a local Newark insurance agent, it’s helpful to know the different types of agencies and how they differ in how they quote coverages. Car insurance agents in Newark are considered either independent or exclusive.
Independent Insurance Agents
Agents that elect to be independent do not sell for just one brand so they can insure your vehicles with lots of companies and potentially find a lower price. If you are not satisfied with one company, your agent can switch companies which requires no work on your part.
When comparing car insurance prices, it’s recommended you include multiple independent agents to ensure the widest selection of prices.
Listed below are independent insurance agents in Newark that can possibly get you free rate quotes.
Collection Agency BandA
744 Broad St #1903 – Newark, NJ 07102 – (862) 218-0319 – View Map
Rosa, Michael Rosa Agency INC
360 Lafayette St – Newark, NJ 07105 – (973) 589-7550 – View Map
Cheap Car Insurance Quotes Auto Newark NJ
268 W KINNEY ST – Newark, NJ 07103 – (888) 290-0635 – View Map
Exclusive Agencies
Agents that elect to be exclusive can usually just insure with one company and examples are Farmers Insurance or State Farm. They generally cannot compare other company’s rates so always compare other rates. They are usually quite knowledgeable on their company’s products which helps overcome the inability to quote other rates.
Below is a short list of exclusive insurance agents in Newark that are able to give price quote information.
Allstate Insurance: Celia Caro
66 Wilson Ave – Newark, NJ 07105 – (973) 690-6400 – View Map
Farmers Insurance: Anthony Pugliese
217 Chestnut St – Newark, NJ 07105 – (973) 536-2060 – View Map
State Farm: Zanetta Glover
570 Broad St #114 – Newark, NJ 07102 – (973) 648-0699 – View Map
Selecting a car insurance agent is decision based upon more than just the quoted price. You should also get answers to these questions.
- What insurance companies do they recommend if they are an independent agent?
- Is their price quote a firm figure or are their hidden costs?
- How much experience to they have in personal lines coverages?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Which companies can they place coverage with?
- Where are claims handled?
- Do you work with a CSR or direct with the agent?