It’s safe to assume that insurance companies don’t want their policyholders to compare prices. People who shop around will presumably switch companies because of the good chance of finding a more affordable policy. Surprisingly, a recent survey revealed that drivers who made a habit of comparing rate quotes saved as much as $865 annually compared to people who never shopped around.
If finding the best rates on Lincoln MKS insurance in Durham is why you’re reading this, knowing the best ways to shop for insurance premiums can help you succeed in finding affordable rates.
If you want to find the absolute lowest rates, then the best way to find better pricing on car insurance rates is to begin comparing prices regularly from different companies that insure vehicles in Durham. Price quotes can be compared by completing these steps.
- Step 1: Take a few minutes and learn about how car insurance works and the factors you can control to lower rates. Many things that drive up the price like traffic citations, accidents, and an imperfect credit rating can be improved by making lifestyle changes or driving safer. This article gives additional tips to get better rates and earn a bigger discount.
- Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from a single company like Progressive or Farmers Insurance, while independent agents can provide rate quotes for many different companies.
- Step 3: Compare the new rate quotes to your existing coverage and determine if cheaper MKS coverage is available in Durham. If you can save some money and change companies, make sure there is no coverage gap between policies.
- Step 4: Notify your company or agent of your decision to cancel your current auto insurance policy. Submit the completed application along with a down payment to the new insurer. As soon as you have the new policy, safely store the certificate verifying coverage in an easily accessible location.
A good piece of advice is to try to use identical coverage information on each quote and and to look at as many different insurance providers as possible. This provides the most accurate price comparison and the best price selection.
How much is Lincoln MKS insurance in Durham?
Finding cheap Durham insurance quotes is a fairly straight forward process. The only requirement is to take a couple of minutes comparing free Durham car insurance quotes from different insurance companies.
The following companies can provide quotes in Durham, NC. If multiple companies are listed, we recommend you click on several of them to get a more complete price comparison.
Insurance rate breakdown
The premium information shown next highlights different policy rates for Lincoln MKS models. Being more informed about how insurance premiums are calculated can be useful when making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKS AWD 4-Dr Sedan | $190 | $348 | $216 | $12 | $64 | $830 | $69 |
| MKS 4-Dr Sedan | $190 | $348 | $216 | $12 | $64 | $830 | $69 |
| MKS Ecoboost AWD 4-Dr Sedan | $210 | $394 | $216 | $12 | $64 | $896 | $75 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in specific location information which can decrease or increase prices greatly.
Should you raise deductibles?
A question often asked by Durham drivers is where to set your physical damage deductibles. The comparison tables below can help you visualize the costs and benefits between high and low deductibles. The first rate estimation uses a $250 comprehensive and collision deductible and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKS AWD 4-Dr Sedan | $242 | $440 | $212 | $12 | $64 | $995 | $83 |
| MKS 4-Dr Sedan | $242 | $440 | $212 | $12 | $64 | $995 | $83 |
| MKS Ecoboost AWD 4-Dr Sedan | $266 | $498 | $212 | $12 | $64 | $1,077 | $90 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKS AWD 4-Dr Sedan | $150 | $276 | $212 | $12 | $64 | $714 | $60 |
| MKS 4-Dr Sedan | $150 | $276 | $212 | $12 | $64 | $714 | $60 |
| MKS Ecoboost AWD 4-Dr Sedan | $164 | $314 | $212 | $12 | $64 | $766 | $64 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Estimates do not factor in Durham location which can alter auto insurance rates considerably.
Based on this data, using a $250 deductible costs roughly $24 more each month or $288 a year across all Lincoln MKS models than selecting the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 31 months between claims, you would probably save some money if you opt for a higher deductible. Here is how this determination is made.
| Average monthly premium for $250 deductibles: | $85 |
| Average monthly premium for $1,000 deductibles (subtract): | – $61 |
| Monthly savings from raising deductible: | $24 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $24 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 31 months |
An important thing to remember is that increasing deductibles to lower your rates means you will have to cover more of the damage yourself when you do file a claim. That will force you to have some extra savings in the event you have to pay more for the deductible.
Safe drivers pay less for auto insurance
The diagram below shows how speeding tickets and accidents can influence Lincoln MKS car insurance rates for different age groups. The data is based on a married female driver, comp and collision included, $250 deductibles, and no other discounts are factored in.
Rate comparison of males versus females
The chart below compares Lincoln MKS annual premium costs for male and female drivers. The information is based on a clean driving record, no claims, comp and collision included, $100 deductibles, single status, and no discounts are applied to the premium.
Full coverage rates vs. liability-only
The example below visualizes the comparison of Lincoln MKS insurance prices with full physical damage coverage compared to only buying liability only. The premiums are based on no claims or violations, $1,000 deductibles, drivers are not married, and no discounts are applied.
Should you pay for full coverage?
There is no clear-cut formula of when to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your Lincoln MKS replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,000 after paying your deductible. If you are currently paying more than $600 a year for comprehensive and collision coverage, then you might consider buying liability only.
There are some cases where only buying liability is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
Why car insurance is not optional
Despite the high insurance cost for a Lincoln MKS in Durham, insuring your vehicle is not optional due to several reasons.
First, almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a minimum amount of liability insurance in order to get the vehicle licensed. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your car, more than likely the lender will force you to buy full coverage to guarantee their interest in the vehicle. If you default on your policy, the lender will be forced to insure your Lincoln for a much higher rate and force you to pay for it.
Third, car insurance preserves both your assets and your car. It will also pay for medical expenses for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, will also pay to defend you if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your MKS greatly outweigh the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is overpaying more than $850 per year so it’s recommended you shop around at every policy renewal to ensure rates are inline.
Get affordable Lincoln MKS insurance in Durham with discounts
Insurance can cost an arm and a leg, but you may qualify for discounts that you may not even be aware of. Certain credits will be shown when you purchase, but some must be inquired about before you will receive the discount.
- Telematics Discount – Insureds who allow companies to study vehicle usage by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive may get a rate reduction if they show good driving skills.
- Theft Prevention Discount – Vehicles that have factory anti-theft systems can help prevent theft and therefore earn up to a 10% discount.
- Organization Discounts – Having an affiliation with specific professional or occupational memberships or organizations is a good way to get lower rates on your policy.
- Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% with a few car insurance companies.
- College Student Discount – Older children who are enrolled in higher education away from home and do not take a car to college could qualify for this discount.
- Save over 55 – If you’re over the age of 55, you can possibly qualify for lower premium rates.
- Active Service Discounts – Having an actively deployed family member may qualify for rate reductions.
- Early Payment Discounts – If you can afford to pay the entire bill rather than spreading payments over time you could save 5% or more.
Just know that most discount credits are not given to the entire policy premium. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think all the discounts add up to a free policy, that’s just not realistic.
The information below illustrates the difference between Lincoln MKS car insurance rates with and without discounts. The rate quotes are based on a female driver, no violations or claims, North Carolina state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, safe-driver, marriage, multi-policy, and claim-free discounts applied.
To locate insurers who offer car insurance discounts in North Carolina, click here.
When should I contact an agent?
Some consumers still prefer to have an agent’s advice and that is a smart decision Insurance agents can answer important questions and help in the event of a claim. The best thing about getting free rate quotes online is the fact that drivers can get better rates and still choose a local agent.
Upon completion of this form (opens in new window), the coverage information is emailed to local insurance agents that provide free Durham car insurance quotes for your business. There is no need to search for an agent due to the fact that quote results will go to you. If you need to compare rates from a particular provider, you can always go to their quote page and complete a quote there.
Deciding on an company requires more thought than just a low price. Here are some questions you should ask.
- Did they already check your driving record and credit reports?
- Are they able to provide referrals?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Do the coverages you’re quoting properly cover your vehicle?
- Does the company allow you to choose your own collision repair facility?
- What are their preferred companies if they are an independent agency?
How to choose the best car insurance agent in Durham
If you are wanting to find a local insurance agency, there are a couple of different types of agencies and how they function. Car insurance agencies are considered either exclusive or independent (non-exclusive). Both types can handle car insurance, but it’s worth mentioning how they are different since it can affect the kind of agent you use.
Exclusive Car Insurance Agents
Agents of this type are contracted to one company like AAA, Allstate, and State Farm. Exclusive agents are unable to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. They are usually quite knowledgeable on what they offer which helps them sell insurance even at higher premiums. Many people purchase coverage from exclusives partially due to loyalty to the company and the convenience of having a single billing for all their coverages.
The following are Durham exclusive insurance agencies that can give you rate quotes.
- Tracey Stidham – State Farm Insurance Agent
3622 Shannon Rd #102 – Durham, NC 27707 – (919) 401-6147 – View Map - Allstate Insurance Agent: Michael D. Maffeo
2705 N Duke St Ste 203 – Durham, NC 27704 – (919) 479-5085 – View Map - Farm Bureau Insurance
4021 Stirrup Creek Dr #220a – Durham, NC 27703 – (919) 469-3191 – View Map
Independent Agencies or Brokers
Agents that choose to be independent are appointed with more than one company and that is an advantage because they can write policies amongst many companies and find you the best rates. To transfer your coverage to a different company, the agent simply finds a different carrier which requires no work on your part.
When comparing rate quotes, you will definitely want to get insurance quotes from several independent agencies to have the most options to choose from. Most also write with mutual insurance companies which can be an advantage.
The following are independent agencies in Durham willing to provide price quotes.
- Bull City Insurance
121 Sherron Rd #302 – Durham, NC 27703 – (919) 596-0671 – View Map - Superior Insurance of Durham
3825 S Roxboro St #118 – Durham, NC 27713 – (919) 224-8034 – View Map - Marsh Dawson Insurance Agency
5410 – Durham, NC 27713 – (919) 484-8400 – View Map
If you get answers to your satisfaction in addition to an acceptable price estimate, you may have found an insurance agency that is a good match to adequately provide car insurance. But keep in mind you have the power to terminate your policy at any point so don’t think you’re contractually obligated to a specific company for a certain time period.
What is the best car insurance company in Durham?
Selecting the best auto insurance provider is hard considering how many different companies insure vehicles in Durham. The company ratings listed below could help you select which coverage providers you want to consider shopping your coverage with.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Specific coverage details
Knowing the specifics of your policy can be of help when determining the best coverages for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy.
Liability car insurance
Liability coverage provides protection from damage or injury you incur to a person or their property in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 30/60/25 which stand for a limit of $30,000 per injured person, a per accident bodily injury limit of $60,000, and $25,000 of coverage for damaged property.
Liability coverage pays for things such as medical expenses, legal defense fees, attorney fees and emergency aid. How much coverage you buy is a personal decision, but buy as high a limit as you can afford. North Carolina requires minimum liability limits of 30/60/25 but it’s recommended drivers buy more coverage.
The illustration below shows why buying minimum limits may not be high enough to cover claims.
Uninsured and underinsured coverage
This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as damage to your Lincoln MKS.
Because many people only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Comprehensive coverages
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims like hitting a deer, damage from a tornado or hurricane, theft, falling objects and damage from flooding. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP pay for immediate expenses such as X-ray expenses, hospital visits, prosthetic devices, funeral costs and pain medications. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
Collision coverage protection
This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims such as colliding with a tree, scraping a guard rail, damaging your car on a curb and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Another option is to raise the deductible on your MKS to get cheaper collision coverage.
Persistent drivers can save
Consumers who switch companies do it for many reasons like not issuing a premium refund, high rates after DUI convictions, lack of trust in their agent and even extreme rates for teen drivers. It doesn’t matter why you want to switch finding a new company can be easy and end up saving you some money.
Budget-friendly insurance in Durham is attainable on the web in addition to local insurance agencies, so get free Durham car insurance quotes from both of them so you have a total pricing picture. Some companies may not have online quoting and these smaller providers prefer to sell through independent agencies.
Throughout this article, we presented many tips how you can reduce Lincoln MKS insurance prices online in Durham. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting the cheapest Lincoln MKS rate quotes. Drivers may even discover the lowest prices come from the smaller companies.
To read more, link through to the following helpful articles:
- Insuring a Leased Car (Insurance Information Institute)
- What Insurance is Cheapest for Veterans in Durham? (FAQ)
- How Much is Car Insurance After a Speeding Ticket in Durham? (FAQ)
- Who Has Cheap Durham Auto Insurance for Business Use? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)