A recent study showed that the vast majority of Nebraska auto insurance customers have stayed with the same insurance company for well over three years, and almost 40% of drivers have never compared auto insurance rates at all. Most drivers in the United States could cut their rates by about 46.5% a year just by getting comparison quotes, but most tend to underestimate the rate savings if they moved their coverage to a different company.
The best way to find lower priced Lincoln MKZ insurance in Lincoln is to begin comparing prices regularly from insurers in Nebraska. You can compare prices by following these guidelines.
- Step 1: Get a basic knowledge of the coverage provided by your policy and the measures you can control to prevent expensive coverage. Many risk factors that result in higher prices such as at-fault accidents, speeding tickets, and poor credit rating can be improved by improving your driving habits or financial responsibility.
- Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while independent agents can quote rates from multiple sources.
- Step 3: Compare the price quotes to your current policy to see if a cheaper price is available in Lincoln. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Give proper notification to your current agent or company of your intention to cancel your current coverage and submit payment and a signed application for your new coverage. Don’t forget to put the new proof of insurance certificate in your vehicle’s glove compartment or console.
One important bit of advice is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to get price quotes from as many carriers as you can. Doing this provides a fair rate comparison and a thorough selection of prices.
The purpose of this article is to let you in on the most effective way to quote insurance and also pocket some savings If you already have coverage, you should be able to get lower rates using the tips covered below. Drivers only need to know the least time-consuming way to compare company rates using one simple form.
Finding a better price on insurance is actually quite simple. Drivers just need to spend a little time comparing rates from different insurance companies.
The following companies have been selected to offer price comparisons in Lincoln, NE. If you want to find cheap auto insurance in Lincoln, NE, we recommend you visit two to three different companies in order to find the most affordable rates.
Analysis of coverages
The price information displayed below highlights different insurance policy prices for Lincoln MKZ models. Learning how rates are established can be useful when making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $158 | $384 | $410 | $24 | $122 | $1,098 | $92 |
| MKZ AWD 4-Dr Sedan | $158 | $384 | $410 | $24 | $122 | $1,098 | $92 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nebraska minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Prices do not factor in the specific area where the vehicle is garaged which can affect insurance rates significantly.
Premiums by gender and age
The example below visualizes the comparison of Lincoln MKZ annual premium costs for male and female drivers. The prices are based on no violations or claims, comp and collision included, $100 deductibles, drivers are not married, and no other discounts are factored in.
Rate difference between full and liability-only coverage
The chart below visualizes the comparison of Lincoln MKZ car insurance costs with full coverage and liability only. The rate quotes are based on no claims or driving violations, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to drop comprehensive and collision
There is no exact rule to delete comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Lincoln MKZ settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after you pay the deductible. If premium cost is more than $300 a year to have full coverage, then it may be the right time to buy liability only.
There are some circumstances where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.
Three main reasons to buy insurance
Even though it’s not necessarily cheap to insure a Lincoln in Lincoln, insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means you are required to carry a minimum amount of liability protection if you don’t want to risk a ticket. In Nebraska these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your MKZ has a loan, it’s guaranteed your bank will require you to buy full coverage to protect their interest in the vehicle. If you do not keep the policy in force, the bank will be required to insure your Lincoln at an extremely high rate and force you to pay for it.
- Insurance protects not only your Lincoln but also your financial assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of carrying enough insurance more than offset the price you pay, especially with large liability claims. According to a survey of 1,000 drivers, the average driver is overpaying over $850 per year so compare rate quotes once a year at a minimum to ensure rates are inline.
How Your MKZ Insurance Costs are Determined
When buying insurance it’s important to understand a few of the rating criteria that help calculate your insurance rates. If you know what positively or negatively impacts your premiums, this enables informed choices that can earn you better insurance rates.
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Tickets inflate costs – Having a clean driving record influences premium rates substantially. Getting just one speeding ticket or other violation can increase the cost of insurance twenty percent or more. Good drivers receive lower rates as compared to careless drivers. Drivers with dangerous violations such as DWI, reckless driving or hit and run convictions may need to submit a SR-22 or proof of financial responsibility with their state’s licensing department in order to legally drive.
The illustration below illustrates how violations and accidents can drive up Lincoln MKZ auto insurance rates for different age groups. The costs are based on a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
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Insurance costs and vehicle performance – The performance of the car or truck you drive makes a significant difference in how high your rates are. The best insurance prices are for the lowest performance passenger models, but your final cost has many other factors.
The data below assumes a married female driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Lincoln MKZ insurance rates compared to other vehicles that have a range of performance rating factors.
- Premiums are affected by your credit rating – Your credit rating will be a significant factor in your rate calculation. People with excellent credit scores tend to be less risk to insure as compared to drivers with lower credit scores. Therefore, if your credit score is low, you could be paying less to insure your Lincoln MKZ by repairing your credit.
- Do you have a demanding job? – Careers like real estate brokers, social workers, and accountants generally pay higher rates than the rest of us due to stressful work requirements and lengthy work days. On the other hand, careers like farmers, students and the unemployed pay lower than average rates.
- Multiple policies with one company – Lots of insurance companies will give lower prices for people who have multiple policies with them, otherwise known as a multi-policy discount. Discounts can be ten or even up to twenty percent in some cases. Even with this discount, it’s always a smart idea to shop around to guarantee you are still saving the most. Consumers may save even more by insuring with multiple companies.
- Safety first – Safe vehicles tend to have lower insurance rates. Safer cars have better occupant injury protection and fewer serious injuries means your insurance company pays less which can result in lower premiums.
- Deter vehicle theft – Purchasing a vehicle that has a built-in theft deterrent system can help bring down rates. Advanced theft deterrents such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent auto theft.
- Raise comp and collision deductibles and save – Physical damage coverage, also known as collision and other-than-collision, helps pay for damage to your vehicle. Examples of some claims that would be covered could be a dented fender, vandalism, and burglary. The deductibles you choose are how much you are required to pay before your insurance pays a claim. The more of the claim you are required to pay out-of-pocket, the better rate you will receive.
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Loss probability for a Lincoln MKZ – Insurance companies use historical loss data when setting rates for each model. Models that have high amounts or severity of claims will have higher rates. The table below illustrates the actual insurance loss data for Lincoln MKZ vehicles.
For each policy coverage type, the loss probability for all vehicles compiled together is considered to be 100. Percentage numbers below 100 suggest a positive loss record, while numbers that are greater than 100 indicate a higher chance of having a claim or an increased likelihood of larger losses.
Lincoln MKZ Insurance Loss Statistics Specific Lincoln 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Lower your auto insurance rates with discounts
Not too many consumers would say auto insurance is affordable, but there may be some discounts that could drop your premiums quite a bit. Many discounts should be triggered at the time of quoting, but less common discounts must be specifically requested in order for you to get them.
- Save with More Vehicles Insured – Drivers who insure multiple cars with one company can reduce the rates for all insured vehicles.
- Good Driver Discount – Drivers who don’t get into accidents may receive a discount up to 45% as compared to drivers with claims.
- No Claims – Insureds who avoid accidents and claims pay much less when compared to drivers with a long claim history.
- Good Students Pay Less – A discount for being a good student can save 20 to 25%. Many companies even apply the discount to college students until age 25.
- Passive Restraint Discount – Vehicles equipped with air bags may get savings of up to 25% or more.
Policy discounts save money, but some credits don’t apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. Even though it appears all those discounts means the company will pay you, it doesn’t quite work that way.
The diagram below shows the comparison of Lincoln MKZ insurance costs with and without discounts applied. The rates are based on a female driver, no violations or claims, Nebraska state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, claim-free, multi-policy, multi-car, and homeowner discounts applied.
The best auto insurance companies and a partial list of their discounts are:
- 21st Century offers premium reductions for driver training, automatic seat belts, good student, student driver, teen driver, and early bird.
- State Farm may include discounts for good driver, anti-theft, multiple autos, defensive driving training, driver’s education, and multiple policy.
- AAA may have discounts that include AAA membership discount, pay-in-full, multi-policy, good student, anti-theft, and good driver.
- Liberty Mutual offers discounts for teen driver discount, good student, new move discount, safety features, newly retired, multi-car, and exclusive group savings.
- Progressive discounts include multi-policy, good student, multi-vehicle, continuous coverage, online quote discount, homeowner, and online signing.
Before buying, ask every company which discounts you qualify for. Some discounts listed above may not apply in Lincoln. If you would like to see a list of auto insurance companies who offer free Lincoln MKZ insurance quotes in Nebraska, follow this link.
How to know if you need help
When quoting and choosing adequate coverage, there really is no “best” method to buy coverage. Your needs are not the same as everyone else’s.
For instance, these questions can help discover whether or not you would benefit from professional advice.
- Is my teenager covered with friends in the car?
- What is the difference between personal and commercial auto insurance policies?
- Is my ex-spouse still covered by my policy?
- What is the premium to book value ratio for dropping full coverage?
- Which companies will insure me after a DUI?
- Is upholstery damage covered by car insurance?
- Is a blown tire covered by insurance?
If it’s difficult to answer those questions, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, doesn’t cost anything and may give you better protection.
Do I need an agent?
Many people prefer to have an agent’s advice and that is a personal choice. Experienced insurance agents can answer important questions and will help you if you have claims. One of the best bonuses of getting free rate quotes online is that you can find cheap insurance quotes and also buy local. And supporting neighborhood agents is important particularly in Lincoln.
To find an agent, once you fill out this form (opens in new window), your insurance coverage information is submitted to local insurance agents in Lincoln who will give competitive quotes for your business. It makes it easy because there is no need to do any legwork since rate quotes are delivered directly to you. In the event you want to get a price quote from a specific company, feel free to jump over to their website and submit a quote form there.
If you prefer to buy insurance from a reliable insurance agent, it helps to know the two different types of agents to choose from. Lincoln agents may be either independent agents or exclusive agents depending on their employer. Both insure your vehicles properly, but it’s important to know the subtle differences because it may have an impact on the type of agent you choose.
Independent Insurance Agencies
These agents can quote rates with many companies and that gives them the ability to insure with multiple insurance companies depending on which coverage is best. To transfer your coverage to a different company, they simply switch companies in-house which is easy for the insured. If you need cheaper insurance rates, you will want to include price quotes from independent agents to get the best comparison. Most have the option of insuring with smaller mutual companies who may have lower rates.
Listed below is a list of independent agencies in Lincoln that can possibly get you free rate quotes.
- Advantage Insurance Agency
505 N 27th St #2 – Lincoln, NE 68503 – (402) 484-5454 – View Map - AMS Insurance Center
120 S 29th St – Lincoln, NE 68510 – (402) 476-3599 – View Map - Davidson Insurance Agency, Inc
5604 South 48th St #6 – Lincoln, NE 68516 – (800) 249-1443 – View Map
Exclusive Insurance Agencies
Exclusive insurance agents normally can only provide a single company’s rates and some examples include State Farm, Allstate and AAA. They are unable to place coverage with different providers so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are trained well on sales techniques which helps offset the inability to provide other markets. Some insured continue to buy from exclusive agents mainly due to loyalty to the company and strong financial ratings.
Shown below are Lincoln exclusive agents that are able to give rate quotes.
- John Curry – State Farm Insurance Agent
4640 Champlain Dr #121 – Lincoln, NE 68521 – (402) 477-8383 – View Map - State Farm – Lincoln – Steve Lang
1401 N 66th St Suite 206 – Lincoln, NE 68505 – (402) 467-2272 – View Map - Paul Johnson – State Farm Insurance Agent
5533 S 27th St #204 – Lincoln, NE 68512 – (402) 420-2288 – View Map
Selecting an insurance agency shouldn’t rely on just the price. Below are some questions you should ask.
- Are they actively involved in the community?
- Do you qualify for any additional discounts?
- Is auto insurance their primary focus in Lincoln?
- Which insurance companies are they affiliated with?
- How long has their agency been open in Lincoln?
Be persistent and save
Cost effective Lincoln MKZ insurance is definitely available on the web in addition to local insurance agencies, so you should be comparing quotes from both to have the best rate selection. Some insurance companies do not provide internet price quotes and usually these regional carriers sell through independent agencies.
Insureds leave their current company for a variety of reasons including policy non-renewal, not issuing a premium refund, delays in paying claims or even lack of trust in their agent. No matter why you want to switch, switching insurance companies is pretty easy and you might even save some money in the process.
As you shop your coverage around, it’s not a good idea to reduce coverage to reduce premium. There are a lot of situations where someone sacrificed full coverage to discover at claim time they didn’t purchase enough coverage. The ultimate goal is to buy a smart amount of coverage for the lowest cost and still be able to protect your assets.
Even more information is available by following these links:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- How Much is Auto Insurance for Single Moms in Lincoln? (FAQ)
- How Much are Auto Insurance Quotes for a Nissan Versa in Lincoln? (FAQ)
- Who Has Cheap Auto Insurance Rates for Immigrants in Lincoln? (FAQ)
- What Car Insurance is Cheapest for Drivers Over Age 50 in Lincoln? (FAQ)
- What Auto Insurance is Cheapest for Low Mileage Drivers in Lincoln? (FAQ)
- What Insurance is Cheapest for 18 Year Olds in Lincoln? (FAQ)
- Older Drivers FAQ (iihs.org)
- Should I Buy a New or Used Car? (Allstate)
- Auto Insurance FAQ (Farmers Insurance)
- Collision Insurance Coverage (Nationwide)