Best Lincoln MKZ Insurance in Laredo

Want the cheapest Lincoln MKZ insurance in Laredo? Are you regretting buying overpriced Lincoln MKZ insurance in Laredo? You’re preaching to the choir because there are many Laredo drivers thinking the same thing.

Insurance quote for Lincoln MKZ in LaredoSurprisingly, a recent survey revealed that nearly 70% of drivers have purchased from the same company for over three years, and just short of a majority have never compared rates to find cheap insurance. Drivers in Texas could pocket about 70% a year by just shopping around, but they don’t want to spend time to go online and compare rates.

How to find lower priced Lincoln MKZ insurance in Laredo

The preferred way to get more affordable Lincoln MKZ insurance is to compare quotes annually from insurance carriers who sell insurance in Laredo. Price quotes can be compared by following these steps.

  1. Learn about policy coverages and the measures you can take to keep rates in check. Many policy risk factors that increase rates like accidents, careless driving, and a negative credit score can be rectified by being financially responsible and driving safely.
  2. Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or State Farm, while agents who are independent can provide prices from multiple sources.
  3. Compare the quotes to your current policy to determine if switching companies saves money. If you can save some money, ensure there is no coverage lapse between policies.

A good tip to remember is to try to compare the same coverage limits and deductibles on each price quote and and to get quotes from as many different insurance providers as possible. Doing this ensures a level playing field and a thorough selection of prices.

Popular companies such as GEICO and Progressive constantly bombard you with advertising and it can be hard to see through the deception and effectively compare rates to find the best deal.

The most recommended method to get policy rate comparisons for Lincoln MKZ insurance in Laredo utilizes the fact car insurance companies provide online access to quote your coverage. All you need to do is provide the companies a bit of rating information like your credit rating estimate, if a SR-22 is needed, daily mileage, and the year, make and model of vehicles. Those rating factors is submitted instantly to multiple insurance providers and you receive quotes instantly to find the best rate.

If you would like to compare rates now, click here and find out if you can get cheaper insurance in Laredo.

The companies in the list below provide quotes in Laredo, TX. To buy cheap auto insurance in TX, we suggest you compare several of them in order to find the most competitive rates.

Cheap Laredo auto insurance quotes with discounts

Companies that sell car insurance don’t always list every discount available in a way that’s easy to find, so we researched both the well known and the more hidden auto insurance savings.Discount auto insurance

While discounts sound great, it’s important to understand that most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as medical payments or collision. Just because you may think you would end up receiving a 100% discount, you aren’t that lucky.

The illustration below shows the comparison of Lincoln MKZ premium costs with and without discounts applied to the policy rates. The price estimates are based on a female driver, no claims, a clean driving record, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, safe-driver, multi-car, multi-policy, and homeowner discounts applied.

Auto insurance companies who may offer many of the previously listed discounts are:

If you want affordable Lincoln MKZ insurance quotes, ask all the companies what discounts are available to you. Depending on the company, some discounts might not apply in Laredo. To choose providers that offer many of these discounts in Laredo, click this link.

Rates and detailed analysis

The coverage table displayed next showcases estimates of insurance policy prices for Lincoln MKZ models. Being able to understand how auto insurance policy rates are formulated can help customers make smart choices when comparing insurance quotes.

Lincoln MKZ Insurance Rates in Laredo, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $200 $414 $440 $26 $132 $1,212 $101
MKZ AWD 4-Dr Sedan $200 $414 $440 $26 $132 $1,212 $101
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Estimates do not factor in Laredo location which can alter coverage prices substantially.

Comparison of policy deductibles

One of the most common insurance questions is where to set your physical damage deductibles. The following insurance rates approximate the difference in cost when you buy lower versus higher physical damage coverage deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second price table uses a $1,000 deductible.

Lincoln MKZ insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $332 $672 $430 $26 $128 $1,613 $134
MKZ AWD 4-Dr Sedan $332 $672 $430 $26 $128 $1,613 $134
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Lincoln MKZ insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
MKZ 4-Dr Sedan $206 $424 $430 $26 $128 $1,214 $101
MKZ AWD 4-Dr Sedan $206 $424 $430 $26 $128 $1,214 $101
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Table data does not factor in your specific Laredo location which can affect price quotes noticeably.

We can derive from the above data that using a $250 deductible will cost you approximately $33 more each month or $396 for a full year than requesting the higher $1,000 deductible. Since you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you average more than 23 months between claim filings, you would save money if you decide on a higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $250 deductibles: $134
Average monthly premium for $1,000 deductibles (subtract): – $101
Monthly savings from raising deductible: $33
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One important note is that raising deductibles to save money means you will have to pay more of your own money when you have a claim. You need enough money put aside in order to pay more to get your vehicle repaired.

How accidents and tickets impact rates

The diagram below shows how traffic citations and at-fault claims drive up Lincoln MKZ car insurance costs for different age groups. The rate quotes are based on a married female driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

Lincoln MKZ insurance rates: Men versus women

The information below visualizes the comparison of Lincoln MKZ insurance prices for male and female drivers. The prices are based on no claims or driving citations, full coverage, $250 deductibles, single marital status, and no other discounts are factored in.

Rate comparison of full coverage and liability-only

The example below visualizes the comparison of Lincoln MKZ insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The rates are based on no accidents, no driving violations, $100 deductibles, drivers are not married, and no discounts are factored in.

Should you buy full coverage or liability only?

There is no set rule of when to phase out physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Lincoln MKZ settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after paying your policy deductible. If it’s costing you more than $600 annually to have full coverage, then it could be time to drop full coverage.

There are some circumstances where buying only liability insurance is not recommended. If you still owe money on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.

Best car insurance company in Texas

Choosing the highest-rated insurance company can be rather challenging considering how many different companies sell coverage in Texas. The rank data in the next section can help you choose which car insurance companies to look at putting your business with.

Top 10 Laredo Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Smart Consumers Can Reduce Insurance Rates

Lots of factors are considered when premium rates are determined. Some factors are common sense like a motor vehicle report, although others are more obscure such as your credit history or how safe your car is.

Safer vehicles means lower prices – Cars with five star safety ratings are cheaper to insure. Vehicles engineered for safety result in less severe injuries and reduced instances of injuries translates into savings for insurance companies and thus lower rates.

Deter vehicle theft – Owning a car with a theft deterrent system can help lower your rates. Anti-theft devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop car theft and help bring rates down.

Do you really need the incidental coverages? – There are a ton of add-on coverages that may not really be needed if you don’t pay attention. Insurance for things like replacement cost coverage, towing, and motor club memberships may not be needed and are just wasting money. They may seem like a good idea when talking to your agent, but if they’re wasting money remove them and pocket the money.

Big city or small town – Residing in a small town can be a good thing when it comes to auto insurance. Less people means reduced accidents and also fewer theft and vandalism claims. People who live in big cities have to deal with traffic congestion and a longer drive to work. Higher commute times can result in more accidents.

Raise comp and collision deductibles and save – Your deductibles define how much you are willing to pay if the claim is covered. Physical damage insurance, also called ‘full coverage’, covers damage that occurs to your car. A few examples of covered claims are colliding with a stationary object, animal collisions, and damage caused by road hazards. The higher the amount you pay before a claim is paid (deductible), the less your auto insurance will be.

Premiums are high for teenagers – Beginning drivers in Texas are known to be more careless when driving with friends so they pay higher auto insurance rates. Older people are shown to be more cautious, tend to file fewer claims, and receive fewer citations.

The data below assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

Lincoln MKZ statistical loss data – Insurance companies use past insurance losses as a way to help calculate a profitable premium price. Models that are shown to have a higher amount or frequency of claims will be charged more to insure. The table below outlines the compiled insurance loss statistics for Lincoln MKZ vehicles.

For each coverage type, the loss probability for all vehicles averaged together equals 100. Values below 100 suggest a better than average loss history, while numbers above 100 indicate more frequent losses or a tendency for losses to be larger than average.

Lincoln MKZ Insurance Claim Statistics
Vehicle 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

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years