We don’t have to tell you that insurance companies don’t want you quoting rates from other companies. People who compare rates at least once a year will most likely switch to a new company because they have a good chance of finding a lower-cost company. A recent survey found that drivers who routinely shopped around saved $70 a month compared to people who never shopped for cheaper rates.
If finding low prices for auto insurance is the reason you’re here, then having a grasp of how to quote and compare insurance rates can help you be more efficient.
If you want to save the most money, the best way to find affordable quotes for Lincoln MKX insurance in Jersey City is to compare prices regularly from insurers who sell insurance in New Jersey. Price quotes can be compared by following these guidelines.
- First, spend some time learning about coverages and the measures you can control to keep rates down. Many factors that increase rates like tickets, at-fault accidents, and a poor credit score can be rectified by making lifestyle changes or driving safer. Continue reading for instructions to prevent high prices and find additional discounts you may qualify for.
- Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like Progressive and State Farm, while independent agencies can quote rates from multiple sources.
- Third, compare the new rates to your current policy to see if switching to a new carrier will save money. If you can save some money, make sure there is no coverage gap between policies.
- Fourth, give notification to your current company to cancel your current car insurance policy. Submit the application along with any required down payment for the new policy. Immediately keep the new proof of insurance paperwork in your glove compartment.
A good tip to remember is that you use the same liability limits and deductibles on every quote request and and to analyze all possible companies. This guarantees a fair rate comparison and and a good selection of different prices.
Five Things That Influence Your Insurance Rates
When buying auto insurance it’s important to understand the rating factors that go into determining the price you pay for auto insurance. When you know what positively or negatively positively or negatively impacts your premiums, this enables you to make decisions that may result in big savings. Lots of things are used in the calculation when premium rates are determined. Some are pretty understandable such as your driving record, but some are not as apparent such as your credit history or how safe your car is.
Extra coverages can waste money – Insurance policies have a lot of additional coverages you can purchase if you don’t pay attention. Insurance for coverage for rental cars, death and dismemberment, and term life insurance may be wasting your money. The coverages may be enticing when discussing your needs, but if you have no use for them remove them and pocket the money.
Being married equates to better prices – Walking down the aisle can actually save you money on your auto insurance policy. Having a spouse may mean you are more mature than a single person and insurance companies like that married drivers get in fewer accidents.
Age of drivers – Youthful drivers in New Jersey are statistically proven to get distracted easily when behind the wheel so auto insurance rates are higher. Older, more experienced drivers are more cautious drivers, file fewer claims, and get fewer tickets.
The data below uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Insure car and home with the same company – Lots of insurance companies allow discounts to clients who carry more than one policy in the form of a multi-policy discount. This can amount to as much as ten percent or more Even with this discount applied, it’s in your best interest to get quotes from other companies to help guarantee you have the best rates.There is a good possibility that you can save more without the discount even if you insure with multiple companies
Your gender affects prices – Over time, data shows that women are safer drivers than men. The data does not necessarily mean that females are better drivers. Males and females are in auto accidents at a similar rate, but the men cause more damage. Men also tend to get more serious tickets like driving under the influence (DUI). Teenage male drivers are the most expensive to insure so it costs more to insure them.
The diagram below illustrates the difference between Lincoln MKX insurance costs for male and female drivers. The prices are based on no accidents, no driving violations, comp and collision included, $100 deductibles, marital status is single, and no other discounts are factored in.
Insurance losses for a Lincoln MKX – Insurance companies factor in historical loss data as a way to help calculate a profitable premium price. Models that the statistics show to have increased claim numbers or amounts will have higher rates for specific coverages.
The table below illustrates the actual insurance loss data for Lincoln MKX vehicles. For each type of coverage, the loss probability for all vehicles, as a total average, is considered to be 100. Values that are 100 or less mean the vehicle has better than average losses, while values that are 100 or greater point to more claims or larger claims.
| Specific Lincoln Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lincoln MKX 4dr 2WD | 77 | 80 | 67 | 66 | 81 | 78 |
| Lincoln MKX 4dr 4WD | 86 | 91 | 92 | 76 | 79 | 87 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
When price shopping your coverage, comparing a large number of companies increases your odds of finding lower pricing. Some companies don’t provide online price quotes, so you also need to get prices on coverage from those companies, too.
The car insurance companies shown below have been selected to offer free quotes in New Jersey. To find cheap car insurance in Jersey City, we suggest you visit several of them in order to find the most competitive rates.
Lincoln MKX insurance statistics and information
The coverage table shown next covers different insurance rates for Lincoln MKX models. Having knowledge of how rate quotes are formulated is important for drivers to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $360 | $722 | $490 | $30 | $146 | $1,748 | $146 |
| MKX AWD | $406 | $722 | $490 | $30 | $146 | $1,794 | $150 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Price information does not factor in vehicle location which can influence coverage prices substantially.
Deductible analysis
One of the hardest decisions when shopping for car insurance is how high should the deductibles for physical damage be. The tables below show the cost difference of buying low and high physical damage deductibles. The first set of rates uses a $250 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $372 | $738 | $480 | $28 | $144 | $1,787 | $149 |
| MKX AWD | $420 | $738 | $480 | $28 | $144 | $1,835 | $153 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKX 2WD | $302 | $594 | $480 | $28 | $144 | $1,548 | $129 |
| MKX AWD | $340 | $594 | $480 | $28 | $144 | $1,586 | $132 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Table data does not factor in specific garaging location which can affect price quotes substantially.
Based on the figures above, using a $250 deductible will cost in the ballpark of $20 more each month or $240 each year than selecting the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you go at least 13 months between claim filings, you would come out ahead if you opt for a higher deductible.
How to calculate deductible break even point
| Average monthly premium for $250 deductibles: | $151 |
| Average monthly premium for $500 deductibles (subtract): | – $131 |
| Monthly savings from raising deductible: | $20 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $20 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 13 months |
One important caveat is that increasing deductibles to lower your rates means you will have to cover more of the damage yourself when you have a claim. That will require enough money stashed away in order to pay the higher deductible in order to repair your vehicle.
Careless drivers pay higher rates
The chart below illustrates how violations and accidents can drive up Lincoln MKX insurance costs for each age group. The premium estimates are based on a single female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
How much more does full coverage cost?
The illustration below compares Lincoln MKX insurance rates when comparing full coverage to liability only. The prices are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Should you be buying full coverage?
There is no exact formula for phasing out comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your Lincoln MKX book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after you pay the deductible. If you are paying in excess of $200 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some conditions where only buying liability is not advised. If you still owe money on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should maintain full coverage.
It may be expensive, but it’s not optional
Even though it can be expensive, buying auto insurance is mandatory in New Jersey but it also protects more than you think.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy specific limits of liability if you drive a vehicle. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you have a lien on your Lincoln MKX, most lenders will force you to carry insurance to protect their interest in the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Lincoln at a much higher premium rate and force you to pay the higher premium.
- Insurance protects not only your Lincoln but also your financial assets. It will also pay for all forms of medical expenses that are the result of an accident. Liability insurance will also pay for a defense attorney if you cause an accident and are sued. If you have damage to your Lincoln as the result of the weather or an accident, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your car greatly outweigh the cost, especially for larger claims. The average driver in America overpays as much as $855 a year so you should quote your policy with other companies at every policy renewal to be sure current rates are still competitive.
Discounts can help save money on Lincoln MKX insurance in Jersey City
Companies offering auto insurance do not list all available discounts in an easy-to-find place, so we break down a few of the more common as well as some of the hidden savings tricks you should be using when you buy Jersey City auto insurance online.
- Organization Discounts – Being in certain professional organizations could qualify you for a break on your bill.
- Jersey City Homeowners Pay Less – Owning your own home or condo can save you money since home ownership requires personal responsibility.
- Active Military Service – Having a family member in the military could be rewarded with lower premium rates.
- Full Payment Discount – If you can afford to pay the entire bill rather than spreading payments over time you could save up to 5%.
- Seat Belts Save – Drivers who require all occupants to use their safety belts can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
- New Car Discount – Buying a new car instead of a used MKX is cheaper since new model year vehicles have better safety ratings.
- Theft Deterrent – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and that can save you a little bit as well.
- Discount for Life Insurance – Select auto insurance companies reward you with a discount if you purchase a life policy as well.
- 55 and Retired – If you’re over the age of 55, you could receive a small decrease in premiums.
Remember that most discounts do not apply to the whole policy. Most only apply to the price of certain insurance coverages like comp or med pay. So even though they make it sound like all those discounts means the company will pay you, it’s just not the way it works.
The example below shows the comparison of Lincoln MKX insurance premiums with and without policy discounts. The prices are based on a female driver, no accidents, no driving violations, New Jersey state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, homeowner, multi-car, and marriage discounts applied.
Some of the larger companies that possibly offer these money-saving discounts are:
When getting a coverage quote, ask each insurance company the best way to save money. Some discounts may not be offered in your area.
Do I need an agent?
Certain consumers still like to have an agent’s advice and that is not a bad decision One of the best bonuses of comparing rate quotes online is that drivers can save money and get lower rates but also keep your business local. Buying insurance from small agencies is especially important in Jersey City.
To help locate an agent, after submitting this form (opens in new window), the coverage information is emailed to insurance agents in Jersey City who will give competitive quotes to get your business. There is no need to leave your house because prices are sent to the email address you provide. Get lower rates without requiring a lot of work. In the event you want to compare prices from a particular provider, you just need to navigate to their website and submit a quote form there.
When researching a reliable insurance agent, you need to know there are two types of insurance agents and how they operate. Insurance policy providers can be classified as either independent (non-exclusive) or exclusive.
Independent Agents
Agents that elect to be independent are normally appointed by many insurers so they can insure your vehicles through lots of different companies and possibly get better coverage at lower prices. If they quote lower rates, your policy is moved internally without you having to go to a different agency. If you are comparing insurance prices, it’s a good idea to get insurance quotes from several independent agencies to get the most accurate price comparison. Many can place coverage with companies that do not advertise much who may have lower rates.
Listed below are Jersey City independent insurance agencies that may be able to provide free insurance rate quotes.
- All Insurance Services Inc
574 Newark Ave – Jersey City, NJ 07306 – (201) 963-8888 – View Map - Cheap Car Insurance Quotes Auto Newark NJ
268 W KINNEY ST – Newark, NJ 07103 – (888) 290-0635 – View Map - Lou Schloss Agency Inc
31 River Ct – Jersey City, NJ 07310 – (201) 626-7589 – View Map
Exclusive Insurance Agents
Agents in the exclusive channel can only quote rates from one company and some examples include Farmers Insurance, State Farm, or Allstate. They generally cannot shop your coverage around so they have no alternatives for high prices. Exclusive agencies receive a lot of sales training in insurance sales which helps offset the inability to provide other markets. Many people use the same exclusive agent partially due to the brand rather than low rates.
Listed below are Jersey City exclusive insurance agencies who can help you get comparison quotes.
- Hemant Jiwnani – State Farm Insurance Agent
2770 John F Kennedy Blvd, FL-1 – Jersey City, NJ 07306 – (201) 653-1770 – View Map - Mansa Nicome – State Farm Insurance Agent
86 NJ-35 – Neptune City, NJ 07753 – (732) 776-9999 – View Map - Tawanda Jackson – State Farm Insurance Agent
688 NJ-440 – Jersey City, NJ 07305 – (201) 209-0290 – View Map
Finding a good insurance agent requires more thought than just a cheap price. Any good agent in Jersey City should know the answers to these questions.
- How long has the business existed?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- If you have an accident, will your rates go up?
- Do they have a Better Business Bureau rating in Jersey City?
- In the event of vehicle damage, can you pick the collision repair facility?
Once you have reasonable responses as well as a affordable price, you may have found an insurance agency that meets the criteria to properly insure your vehicles. It’s important to know that it’s your policy and you can cancel a policy when you choose so never assume that you are obligated to any particular company for the full term.
Persistence will pay off
When trying to cut insurance costs, never buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped full coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.
We just showed you some good ideas how you can compare Lincoln MKX insurance rates in Jersey City. The most important thing to understand is the more quotes you get, the higher your chance of finding inexpensive Jersey City auto insurance quotes. Consumers could even find that the most savings is with a company that doesn’t do a lot of advertising.
The cheapest Lincoln MKX insurance in Jersey City can be purchased from both online companies and from local agencies, so you need to quote Jersey City auto insurance with both to have the best rate selection. A few companies do not provide the ability to get quotes online and these regional carriers only sell through independent insurance agents.
To learn more, take a look at the following helpful articles:
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Who Has Cheap Auto Insurance for a Honda CR-V in Jersey City? (FAQ)
- What is the Cheapest Auto Insurance in Jersey City, New Jersey? (FAQ)
- What Car Insurance is Cheapest for a Ford Edge in Jersey City? (FAQ)
- How to Avoid Common Accidents (State Farm)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Older Drivers FAQ (iihs.org)