Do you want cheaper Lincoln MKZ insurance in Anchorage? Are you tired of sacrificing other expenses each month for insurance? You’re in the same situation as millions of other vehicle owners.
It’s an obvious statement that auto insurance companies don’t want customers comparing rates. Drivers who compare rates once a year will probably switch to a new company because they have a good chance of finding discount prices. A recent study showed that consumers who routinely compared quotes saved $865 annually as compared to drivers who never shopped around.
If finding budget-friendly rates on Lincoln MKZ insurance in Anchorage is your ultimate objective, then knowing how to quote prices and compare insurance can make the process less intimidating.
Steps to buying affordable Lincoln MKZ insurance in Anchorage
The easiest way to get cheaper Lincoln MKZ insurance in Anchorage is to compare prices once a year from companies that insure vehicles in Alaska.
First, try to comprehend the coverage provided by your policy and the factors you can control to drop your rates. Many risk factors that cause rate increases like inattentive driving and poor credit rating can be eliminated by being financially responsible and driving safely.
Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like Progressive and State Farm, while independent agents can provide rate quotes from multiple sources.
Third, compare the new rates to your current policy premium to see if a cheaper rate is available in Anchorage. If you can save money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, provide written notification to your current company of your intention to cancel your current policy. Submit payment and a completed application to the newly selected company. Once the application is submitted, put the certificate verifying proof of insurance in your vehicle.
One important bit of advice is to use the same level of coverage on each price quote and and to analyze as many different companies as possible. This helps ensure a fair price comparison and the best price selection.
Popular companies such as GEICO and Progressive all claim big savings with fancy advertisements and it is challenging if not impossible to ignore the propaganda and take the time to shop coverage around.
Consumers should take time to do price comparisons every six months because prices are usually higher with each renewal. Even if you got the best deal on Lincoln MKZ insurance in Anchorage on your last policy the chances are good that you can find a lower premium rate today. Forget anything you know (or think you know) about insurance because you’re about to learn one of the best ways to find better coverage on Lincoln MKZ insurance in Anchorage at a better price.
If you are paying for car insurance now, you will most likely be able to save money using the ideas you’re about to read. Buying the cheapest car insurance in Anchorage is not rocket science. But Alaska consumers must comprehend how the larger insurance companies determine how much to charge because rates are impacted by many factors.
How to lower your Lincoln MKZ insurance cost in Anchorage
The are a couple different ways to compare rate quotes from many auto insurance companies in Alaska. The quickest method to do a complete rate comparison is to perform an online rate comparison.
It’s so easy to compare rates online that it replaces the need to make phone calls or go to local Anchorage insurance agencies. The ability to quote Lincoln MKZ insurance online eliminates this option unless you prefer the trained advice of an agent trained in personal lines coverage. It is possible to get prices online but have a local agent actually write the policy. When comparing auto insurance rates, know that comparing a large number of companies will enable you to find more affordable rates. Some smaller insurers do not give online Anchorage MKZ insurance quotes, so it’s important to compare rates from them as well.
The auto insurance companies shown below provide free rate quotes in Anchorage, AK. If you want to find the best car insurance in AK, we recommend you visit several of them to get the most competitive price.
Why you need to buy auto insurance
Despite the potentially high cost of Lincoln MKZ insurance, paying for auto insurance is required for several reasons.
- Just about all states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability insurance in order to be legal. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Lincoln MKZ has a loan, it’s most likely the lender will make it mandatory that you have comprehensive coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Lincoln at an extremely high rate and make you pay a much higher amount than you were paying before.
- Auto insurance protects not only your Lincoln but also your assets. Insurance will also pay for many types of medical costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if anyone sues you for causing an accident. If your Lincoln gets damaged, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your car are definitely more than the cost, especially for larger claims. But the average driver in Alaska is currently overpaying as much as $855 a year so compare rates each time the policy renews to save money.
Rates and statistics
The information below outlines a range of rate quotes for Lincoln MKZ models. Having a good grasp of how car insurance prices are established is important for making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $168 | $302 | $402 | $24 | $120 | $1,016 | $85 |
| MKZ AWD 4-Dr Sedan | $168 | $302 | $402 | $24 | $120 | $1,016 | $85 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Table data does not factor in specific location which can lower or raise insurance rates noticeably.
Should you raise deductibles?
One of the hardest decisions when shopping for car insurance is at what level do you set your deductibles. The figures shown below may help you to understand how much more rates are when you select higher and lower physical damage deductibles. The first set of rates uses a $250 deductible for comprehensive and collision coverage and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $238 | $480 | $308 | $18 | $92 | $1,161 | $97 |
| MKZ AWD 4-Dr Sedan | $238 | $480 | $308 | $18 | $92 | $1,161 | $97 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $192 | $388 | $308 | $18 | $92 | $998 | $83 |
| MKZ AWD 4-Dr Sedan | $192 | $388 | $308 | $18 | $92 | $998 | $83 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Prices do not factor in garaging location in Anchorage which can modify coverage rates noticeably.
We can estimate from the data above that using a $250 deductible would cost the average driver about $14 more each month or $168 a year averaged for all MKZ models than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you go at least 18 months between claim filings, you would save money if you choose the higher deductible.
The diagram below illustrates how your deductible choice and can raise or lower Lincoln MKZ insurance costs for different insured age categories. The premiums are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.
Cautious drivers save money
The information below illustrates how speeding tickets and at-fault claims can increase Lincoln MKZ yearly insurance costs for each different age category. Data assumes a single female driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
Does it make sense to buy full coverage?
The illustration below illustrates the comparison of Lincoln MKZ auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no claims or violations, $1,000 deductibles, marital status is single, and no discounts are factored in.
Should you pay for full coverage?
There isn’t a written rule for excluding physical damage coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your Lincoln MKZ settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after paying your deductible. If premiums are more than $500 a year for full coverage, then you may need to consider dropping full coverage.
There are some conditions where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Lower-cost Anchorage insurance rates with discounts
The price of auto insurance can be rather high, but companies offer discounts that could drop your premiums quite a bit. A few discounts will be applied when you purchase, but lesser-known reductions have to be inquired about before you will receive the discount.
- Full Payment Discount – If you pay your bill all at once as opposed to paying monthly you may reduce your total bill.
- Senior Discount – Seniors may receive lower premium rates.
- Seat Belt Discounts – Requiring all passengers to use their safety belts could save 15% on medical payment and PIP coverage.
- Bundle and Save – If you can combine your auto and homeowners policy and insure them with the same company you could get a discount of at least 10 to 15 percent or more.
- E-sign – A few larger online companies will provide an incentive for completing your application over the internet.
- No Charge for an Accident – Not necessarily a discount, but some companies like State Farm and Allstate allow you one accident without raising rates if you are claim-free for a certain period of time.
- Anti-lock Brakes – Cars with anti-lock braking systems prevent accidents so companies give up to a 10% discount.
- Own a Home – Owning your own home or condo can save a few bucks because maintaining a house demonstrates responsibility.
- Early Signing – Some companies give discounts for renewing your policy before your current MKZ insurance policy expires. You may see this discount when you get Anchorage auto insurance quotes online.
- Organization Discounts – Being a member of qualifying employment or professional organizations could trigger savings when getting a Anchorage auto insurance quote.
While discounts sound great, it’s important to understand that most credits do not apply to your bottom line cost. Some only reduce individual premiums such as comp or med pay. Despite the appearance that all the discounts add up to a free policy, it just doesn’t work that way.
The chart below shows the difference between Lincoln MKZ insurance costs with and without policy discounts. The data is based on a female driver, no tickets, no at-fault accidents, Alaska state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, safe-driver, multi-policy, homeowner, and multi-car discounts applied.
To locate insurance companies who offer free Lincoln MKZ insurance quotes in Alaska, follow this link.
Don’t I need to contact an insurance agency?
Many people would rather sit down with an agent. A good thing about getting online price quotes is that you can find better rates and still buy from a local agent.
After filling out this form (opens in new window), your coverage information is submitted to local insurance agents who will give competitive quotes for your business. It simplifies rate comparisons since you won’t have to contact any insurance agencies because prices are sent instantly to you. It’s the lowest rates without the usual hassles of price shopping. If you have a need to get a rate quote from a specific insurance company, you can always go to their quote page and complete a quote there.
Finding the right insurance company should include more criteria than just the premium amount. The answers to these questions are important, too.
- Is there any savings for paying the full premium?
- Do they get extra compensation for selling add-on coverages?
- Do they have 24-hour customer assistance?
- What company holds the largest book of business for them?
- How experienced are they in personal risk management?
- Do they write coverage based solely on cost?
- Will the agent help in case of a claim?
Exclusive and independent Anchorage car insurance agents
When looking for a good insurance agency, it’s important to understand the types of agencies and how they operate. Agencies in Anchorage can be classified as either exclusive or independent (non-exclusive).
Exclusive Insurance Agents
Exclusive agents work for only one company and some examples include Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot compare rates from other companies so they have no alternatives for high prices. These agents receive a lot of sales training on their products and sales techniques which can be an advantage.
The following are Anchorage exclusive insurance agents willing to provide comparison quotes.
State Farm Insurance Companies Agent
3900 Arctic Blvd #102 – Anchorage, AK 99503 – (907) 563-3188 – View Map
Allstate Insurance: Ronald Samber
1731 Bragaw St – Anchorage, AK 99508 – (907) 333-4566 – View Map
Bill Evans – State Farm Insurance Agent
805 Gambell St – Anchorage, AK 99501 – (907) 276-2424 – View Map
Independent Agents (or Brokers)
Agents that elect to be independent are not locked into one company and that gives them the ability to insure through lots of different companies and get you the best rates possible. To transfer your coverage to a different company, your agent can switch companies and you stay with the same agent.
When comparing rate quotes, you definitely need to include rate quotes from several independent insurance agents so that you can do a thorough price comparison.
Below is a short list of independent agencies in Anchorage who can help you get price quote information.
Alaska National Insurance Co
7001 Jewel Lake Rd – Anchorage, AK 99502 – (907) 248-2642 – View Map
The Wilson Agency
3000 A St #400 – Anchorage, AK 99503 – (907) 277-1616 – View Map
Marsh Mc Lennan Agency
1031 W 4th Ave #400 – Anchorage, AK 99501 – (907) 276-5617 – View Map
How much insurance do I need?
When it comes to choosing the right insurance coverage for your personal vehicles, there really isn’t a perfect coverage plan. Every insured’s situation is different and your policy should reflect that.
Here are some questions about coverages that might point out if you might need an agent’s assistance.
- Do I need rental car coverage?
- Does having multiple vehicles earn me a discount?
- What are good deductibles for a Lincoln MKZ?
- What is the rate difference between pleasure use and commuting?
- Is my teen driver covered when they drive my company car?
- How much liability coverage do I need in Alaska?
- Should I sign the liability waiver when renting a car?
- Am I covered if my car is in a flood?
If it’s difficult to answer those questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Cheap insurance rates are possible
As you shop your coverage around, never reduce needed coverages to save money. There are many occasions where an insured cut physical damage coverage only to regret at claim time that the few dollars in savings costed them thousands. Your focus should be to purchase plenty of coverage at a price you can afford, but don’t skip important coverages to save money.
We just presented some good ideas how to reduce Lincoln MKZ insurance prices online in Anchorage. The key concept to understand is the more quotes you get, the better your chances of lowering your rates. You may even find the biggest savings come from a smaller regional carrier. Regional companies may cover specific market segments cheaper as compared to the big name companies such as State Farm and Allstate.
There are still a few companies who do not offer rates over the internet and many times these regional carriers only sell coverage through independent insurance agencies. The cheapest Lincoln MKZ insurance in Anchorage is possible from both online companies in addition to local insurance agencies, and you should compare price quotes from both to have the best chance of lowering rates.
Steps to finding discount Lincoln MKZ insurance in Anchorage
Really, the only way to get budget Lincoln MKZ insurance in Anchorage is to do an annual price comparison from providers in Alaska.
- Step 1: Take a few minutes and learn about how insurance works and the things you can control to prevent rate increases. Many factors that result in higher prices like at-fault accidents, speeding tickets, and a negative credit rating can be controlled by making minor driving habit or lifestyle changes.
- Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like Progressive or Allstate, while agents who are independent can provide prices for a wide range of companies. Get quotes now
- Step 3: Compare the new rate quotes to your current policy and see if you can save money. If you find a lower rate quote and switch companies, make sure there is no lapse in coverage.
An important note is to try to compare the same amount of coverage on every price quote and and to compare as many companies as possible. Doing this provides the most accurate price comparison and a complete selection of prices.
Much more information about insurance in Alaska can be read on the following sites:
- Rental Car Insurance Tips (Insurance Information Institute)
- Who Has Affordable Car Insurance Rates for Government Employees in Anchorage? (FAQ)
- What Auto Insurance is Cheapest for First-time Drivers in Anchorage? (FAQ)
- Who Has Cheap Auto Insurance for a Dodge Grand Caravan in Anchorage? (FAQ)
- Who Has Affordable Car Insurance Rates for a 20 Year Old Female in Anchorage? (FAQ)
- Who Has Cheap Anchorage Auto Insurance Rates for State Employees? (FAQ)
- How Much are Anchorage Car Insurance Rates for a Dodge Journey? (FAQ)
- What is a Telematics Device? (Allstate)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Think You’re a Safe Driver? (State Farm)