Want to learn how to find the cheapest Lincoln MKZ insurance in Denver? Do you get confused by the number of auto insurance providers in your area? Colorado drivers have such a vast assortment of providers available that it is a lot of work to locate the lowest premium rates for Lincoln MKZ insurance in Denver. Everyone knows that Denver is a great city to raise a family in, but budgeting for expensive auto insurance makes it impossible to keep a tight budget.
It’s hard to fathom, but nearly 70% of consumers have been with the same company for at least four years, and nearly half have never taken the time to shop around. With the average premium in Colorado being $1,813, drivers could save themselves nearly $600 a year by just comparing rate quotes, but most just don’t grasp the benefits if they swap their current policy for a cheaper one.
You should take the time to compare premium rates before your next renewal due to the fact that insurance prices fluctuate regularly. Even if you got the lowest rates on Lincoln MKZ insurance in Denver last year the chances are good that you can find a lower rate quote today. You’ll find a ton of advice on MKZ insurance online but in this article, you’re going to get some great ways to slash your auto insurance rates in Denver.
Keep in mind that making a lot of price comparisons helps you find the best price.
The providers in the list below are our best choices to provide price comparisons in Colorado. If more than one company is shown, we suggest you compare several of them to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKZ 4-Dr Sedan||$214||$490||$448||$26||$134||$1,312||$109|
|MKZ AWD 4-Dr Sedan||$192||$416||$374||$22||$112||$1,116||$93|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Price information does not factor in vehicle garaging location which can impact insurance rates significantly.
Cost of full coverage in Denver
The chart below shows the comparison of Lincoln MKZ insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no accidents or driving violations, $100 deductibles, married female driver, and no other discounts are factored in.
When to stop buying physical damage coverage
There is no definitive guideline to stop buying physical damage insurance, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Lincoln MKZ claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,000 after paying your policy deductible. If you are paying more than $600 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some conditions where eliminating full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
Car insurance quotes and discounts
Auto insurance companies don’t list all possible discounts very well, so the list below contains some of the best known in addition to some of the lesser obvious credits that you can use to lower your rates.
- No Claim Discounts – Claim-free drivers pay much less compared to drivers who are more careless.
- Air Bags and Passive Restraints – Factory air bags or motorized seat belts can get savings of 20 to 30 percent.
- Good Driver Discount – Insureds who avoid accidents can save up to 40% or more on their Denver auto insurance quote compared to accident prone drivers.
- Student Discounts – A discount for being a good student can earn a discount of 20% or more. Most companies allow this discount well after school through age 25.
- Drivers Education – It’s a good idea to have your young drivers successfully complete driver’s ed class if offered at their school.
- Life Insurance – Companies who offer life insurance give a discounted price on car insurance if you buy some life insurance too.
It’s important to note that most of the big mark downs will not be given to your bottom line cost. Most only reduce specific coverage prices like liability, collision or medical payments. So when the math indicates you can get free auto insurance, it doesn’t quite work that way.
If you would like to view providers that offer multiple discounts in Denver, follow this link.
Insurance agents can help
Some consumers would rather buy from a licensed agent and that is a personal choice. One of the benefits of getting free rate quotes online is that you can find cheap insurance quotes and still choose a local agent. And supporting local insurance agencies is still important in Denver.
After completing this short form, your information is immediately sent to insurance agents in Denver that can give you free Denver auto insurance quotes for your insurance coverage. You won’t even need to leave your computer because prices are sent directly to your email. You can most likely find cheaper rates and an insurance agent to talk to. If you want to get a comparison quote from a specific insurance provider, you would need to navigate to their website and fill out the quote form the provide.
If you would like to find local Denver agents, there are two types of insurance agents from which to choose. Insurance agents in Denver are categorized either independent agents or exclusive agents depending on their employer.
Independent Agencies or Brokers
Agents in the independent channel are not employed by one company so as a result can place your coverage amongst many companies and find the cheapest insurance rates. If prices rise, an independent agent can move your coverage and you don’t have to do anything.
When shopping rates, you will want to get quotes from at least one independent agent so that you have a good selection of quotes to compare. Many can place coverage with mutual insurance companies which could offer lower prices.
Below is a partial list of independent agents in Denver who can help you get pricing information.
- Alliance General Insurance Agency
2696 CO-2 – Denver, CO 80222 – (303) 377-1172 – View Map
- Moschetti Michael – Isu Insurance Svc Of Co
950 17th St #1000 – Denver, CO 80202 – (303) 534-2133 – View Map
- Insurance Town and Country
1735 E 17th Ave #3 – Denver, CO 80218 – (303) 388-7216 – View Map
Exclusive Insurance Agencies
Agents that elect to be exclusive can only quote rates from one company such as State Farm, AAA, Farmers Insurance or Allstate. They usually cannot shop your coverage around so it’s a take it or leave it situation. They are well trained on what they offer which helps offset the inability to provide other markets. Some people will only use the same agent mostly because of the brand rather than having low rates.
Listed below are exclusive agencies in Denver who can help you get rate quotes.
- Allstate Insurance: Paul Novak
3900 E Mexico Ave # 105 – Denver, CO 80210 – (303) 320-7859 – View Map
- Tiffany Meidinger – State Farm Insurance Agent
1100 Acoma St – Denver, CO 80204 – (720) 508-8760 – View Map
- Allstate Insurance: Denise Hoffman
535 16th St #350 – Denver, CO 80202 – (303) 628-0554 – View Map
Deciding on an car insurance agent should include more criteria than just the premium amount. Here are some questions you might want to ask.
- How would your car be valued if totalled?
- Is the agency covered by Errors and Omissions coverage?
- Do they assist clients in filing claims?
- Who is covered by the car insurance policy?
- Is insurance their full-time profession?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Do they get extra compensation for selling add-on coverages?
- Will you get a loaner vehicle if you car is being repaired?
Learn How to Lower Your Insurance Premiums
It’s important that you understand the different types of things that go into determining your insurance rates. When consumers understand what determines premiums, this enables you to make decisions that could help you find lower insurance prices. Lots of factors are taken into consideration when you get a price on insurance. Most are fairly basic like your driving record, but other criteria are less obvious such as your credit history or your financial responsibility.
Shown below are some of the most common factors used by companies to determine your premiums.
Multi-policy discounts can save money – Many insurance companies will give discounts for people who consolidate policies with them. It’s known as a multi-policy discount. Even if you’re getting this discount drivers will still want to compare other Denver MKZ insurance rates to help guarantee you have the best rates.
Raise comp and collision deductibles and save – Coverage for physical damage, termed comprehensive and collision coverage on your policy, covers your vehicle from damage. Examples of covered claims are running into the backend of another car, hail damage, and rolling your vehicle. Your deductibles represent how much money you are required to spend if the claim is covered. The more expense the insured has to pay upfront, the less money you will pay for insurance.
Occupation reflects on prices – Jobs like military generals, architects and accountants tend to have the highest average rates because of job stress and lots of time spent away from family. Conversely, careers like professors, engineers and performers receive lower rates.
Save by driving safer vehicles – Safe vehicles get lower rates. Safer cars help reduce the chance of injuries in an accident and fewer injuries means lower claim amounts which can result in lower premiums. If your Lincoln is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.
Insurance loss data for a Lincoln MKZ – Insurers study historical loss data to help set a rate to offset losses. Models that the statistics show to have higher claim amounts or frequency will cost more to insure.
The next table shows the compiled insurance loss statistics for Lincoln MKZ vehicles. For each coverage type, the statistical loss for all vehicles, as a total average, equals 100. Values that are 100 or less indicate better than average losses, while numbers shown that are more than 100 point to more losses or an increased probability of a larger loss.
Car Insurance Loss Data for Lincoln MKZ Models
|Make and 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Car insurance just makes sense
Despite the high cost of buying insurance for a Lincoln MKZ in Denver, insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means the state requires specific minimum amounts of liability coverage in order to be legal. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you bought your Lincoln MKZ with a loan, almost every bank will stipulate that you have insurance to guarantee their interest in the vehicle. If the policy lapses, the lender may insure your Lincoln at a much higher premium rate and force you to reimburse them for the much more expensive policy.
- Insurance protects not only your vehicle but also your assets. It will also provide coverage for most medical and hospital costs that are the result of an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit in the event you are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car more than cancel out the cost, especially for larger claims. The average driver in Colorado is currently overpaying as much as $820 a year so smart consumers compare quotes at every renewal to be sure current rates are still competitive.
What is YOUR best insurance company?
We just covered many ideas to reduce Lincoln MKZ insurance rates online in Denver. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest rates are with a small local company.
When shopping online for auto insurance, make sure you don’t buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured cut uninsured motorist or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your goal should be to purchase plenty of coverage at the best price while still protecting your assets.
Insureds leave their current company for a variety of reasons including policy cancellation, high rates after DUI convictions, denial of a claim and even high prices. Regardless of your reason, finding a new company is easier than you think.
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Who Has Affordable Auto Insurance for a Toyota RAV4 in Denver? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Hybrid Vehicles in Denver? (FAQ)
- Who Has Cheap Car Insurance for Retired Military in Denver? (FAQ)
- Who Has Affordable Denver Auto Insurance Rates for High School Students? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Property Damage Coverage (Liberty Mutual)
- Car Insurance: When not to Skimp (BankRate.com)