Shocking but true, most auto insurance customers renewed their policy with the same company for well over three years, and nearly 40% of drivers have never taken the time to shop around. Nebraska drivers could pocket about 30% a year, but they underestimate the benefits if they switch to a new company.
The preferred way to find cheaper quotes for Lincoln MKT insurance in Omaha is to compare prices regularly from insurers who provide car insurance in Nebraska. You can shop around by following these steps.
Step 1: Spend some time learning about individual coverages and the things you can control to keep rates in check. Many rating criteria that drive up the price such as traffic violations, accidents, and an unacceptable credit history can be remedied by making minor changes to your lifestyle.
Step 2: Quote rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agencies can provide price quotes from multiple companies.
Step 3: Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you find better rates, make sure the effective date of the new policy is the same as the expiration date of the old one.
One bit of advice is to use identical coverage information on every quote and to quote with as many companies as feasibly possible. This provides a level playing field and a better comparison of the market.
Getting quotes for the lowest-priced policy in Omaha is not as difficult as people think. If you have a policy now or are looking for a new policy, you will benefit by learning to cut your premiums and still get good coverage. Consumers just have to know the quickest method to compare company rates from many different companies.
These discounts can lower your auto insurance quotes
The cost of insuring your cars can be expensive, but there may be some discounts that you may not even know about. Many discounts should be triggered when you get a quote, but a few need to be asked about prior to receiving the credit. If you don’t get every credit possible, you are paying more than you should be.
- Telematics Discount – Policyholders that allow their auto insurance company to track when and where they use their vehicle through the use of a telematics system like In-Drive from State Farm and Progressive’s Snapshot could see a rate decrease as long as the data is positive.
- No Claims – Insureds who avoid accidents and claims pay less as opposed to accident-prone drivers.
- Defensive Driver Discount – Passing a course that instructs on driving safety is a good idea and can lower rates if you qualify.
- Paperwork-free – A few larger online companies provide a small discount shop Omaha car insurance on your computer.
- Professional Memberships – Affiliation with a professional or civic organization can get you a small discount on auto insurance.
Consumers should know that some of the credits will not apply to the whole policy. Some only reduce specific coverage prices like liability and collision coverage. Even though the math looks like having all the discounts means you get insurance for free, nobody gets a free ride.
The illustration below compares Lincoln MKT yearly insurance costs with and without discounts applied. The price estimates are based on a female driver, a clean driving record, no claims, Nebraska 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 multi-policy, homeowner, multi-car, marriage, claim-free, and safe-driver discounts applied.
Insurance companies that may include these money-saving discounts include:
It’s a good idea to ask each company or agent which credits you are entitled to. Some discounts listed above may not apply to policyholders in every state. If you would like to choose from a list of insurance companies who offer auto insurance discounts in Nebraska, click this link.
The companies in the list below provide comparison quotes in Omaha, NE. If you want cheap car insurance in Nebraska, we recommend you get prices from several of them to get a more complete price comparison.
Statistics and details
The data table displayed below covers estimates of insurance coverage prices for Lincoln MKT models. Understanding how insurance prices are determined can benefit drivers when making informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MKT 3.7 2WD||$296||$506||$348||$20||$104||$1,274||$106|
|MKT 3.7 AWD||$326||$582||$348||$20||$104||$1,380||$115|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rates do not factor in vehicle location which can modify auto insurance rates noticeably.
How accidents and tickets impact rates
The information below shows how speeding tickets and at-fault accidents can affect Lincoln MKT insurance costs for different ages of insureds. The information is based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
Full coverage or liability only
The information below shows the comparison of Lincoln MKT insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Nebraska. The price estimates are based on no accidents, no driving violations, $1,000 deductibles, single status, and no discounts are applied to the premium.
When to stop buying comprehensive and collision coverage
There is no exact rule for eliminating full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s assume your Lincoln MKT replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after you pay the deductible. If it’s costing you more than $200 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some cases where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
How Car Insurance Companies Determine Lincoln MKT Insurance Premiums
Many factors are used when you get a price on insurance. Most are fairly basic like your driving record, but other criteria are less obvious like where you live or how safe your car is. Smart consumers have a good feel for a few of the rating criteria that help calculate the rates you pay for insurance. If you have a feel for what determines premiums, this empowers consumers to make smart changes that can help you get better insurance rates.
Combining policies can get discounts – Most larger insurance companies apply discounts to customers who buy several policies from them in the form of a multi-policy discount. If you currently are using one company, it’s always a smart idea to get quotes from other companies to help guarantee you have the best rates. You may still find a better deal by splitting coverages up.
Don’t abuse policy claims – Car insurance companies in Nebraska provide discounts to people who do not rely on their insurance for small claims. If you frequently file small claims, you can definitely plan on either a policy non-renewal or much higher rates. Your car insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Better credit means lower rates – A driver’s credit score will be a significant factor in determining what you pay for insurance. If your credit can use some improvement, you could pay less to insure your Lincoln MKT if you improve your credit rating. Drivers who have good credit tend to be more responsible and file fewer claims as compared to drivers with worse credit.
Discounts for married couples – Being married can get you a discount on insurance. Having a significant other demonstrates that you tend to be more financially stable it has been statistically shown that married drivers get in fewer accidents.
Type of car determines base rates – The performance level of the vehicle you drive makes a substantial difference in determining your rates. The best insurance prices are for the lowest performance passenger vehicles, but that’s not the only thing that factors into the final price.
The chart below uses these variables: single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. The chart compares Lincoln MKT insurance premiums compared to other models of vehicles that have a range of risk factors.
Lincoln MKT claim probability – Companies factor in historical loss data as a way to help calculate a profitable premium rate. Vehicles that tend to have higher losses will cost more for coverage. The next table illustrates the actual insurance loss data for Lincoln MKT vehicles.
For each insurance policy coverage type, the claim probability for all vehicles averaged together is a value of 100. Percentage values below 100 suggest losses that are better than average, while numbers that are greater than 100 indicate a higher chance of having a claim or an increased chance of a larger loss.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Lincoln MKT 4dr 2WD||128||133|
|Lincoln MKT 4dr 4WD||118||85||138||85|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
When should I discuss my situation with an agent?
When it comes to choosing insurance from an agent or online, there really isn’t a “best” method to buy coverage. You are unique so your insurance needs to address that. For instance, these questions can aid in determining whether you may require specific advice.
- Do I have ACV or replacement cost coverage?
- Does my liability insurance cover pulling a trailer or camper?
- Does car insurance cover theft of personal property?
- Can I afford to pay high deductible claims out of pocket?
- What is motorclub and do I need it?
- What is the minimum liability in Nebraska?
If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.
Can’t I compare prices from local Omaha insurance agents?
Certain consumers would rather get advice from a local agent and that can be a great decision Agents can answer important questions and give you someone to call. One of the great benefits of price shopping on the web is the fact that you can find the lowest rates and still have an agent to talk to. Buying from neighborhood insurance agencies is still important in Omaha.
After filling out this quick form, your information is sent to insurance agents in Omaha who will give you quotes to get your business. It simplifies rate comparisons since you won’t have to leave your house due to the fact that quote results will go to you directly. If you want to compare rates from one company in particular, you just need to navigate to their website and submit a quote form there.
Do you need an independent or exclusive auto insurance agent?
If you are wanting to purchase auto insurance from a local Omaha insurance agency, it can be helpful to understand the types of agencies and how they differ in how they quote coverages. Insurance agencies in Omaha are considered either independent agents or exclusive agents depending on their employer. Either can sell and service auto insurance coverage, but it is important to understand the difference in how they write coverage since it could factor into your agent selection.
Independent Agencies or Brokers
Agents that choose to be independent are not required to write business for one company so as a result can place your coverage through many companies and find you cheaper rates. If you are not satisfied with one company, they simply switch companies in-house without you having to go to a different agency. When comparing rate quotes, you need to contact multiple independent agents so that you can do a thorough price comparison. Many can place coverage with smaller companies which can save you money.
Below is a partial list of independent insurance agents in Omaha that may be able to provide cheap rate quotes.
- Accredited Insurance Group, Inc.
11347 Davenport St – Omaha, NE 68154 – (402) 334-1780 – View Map
- New Frontier Insurance
3637 S 24th St – Omaha, NE 68108 – (402) 731-2505 – View Map
- Best Insurance Agency
7300 F St – Omaha, NE 68127 – (402) 331-1515 – View Map
Exclusive Auto Insurance Agencies
Exclusive agents can only provide pricing for a single company such as Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot compare rates from other companies so they really need to provide good service. They are highly trained on the products they sell and that can be a competitive advantage. Many people use the same agent primarily because of the brand name rather than low rates.
The following is a short list of exclusive agents in Omaha willing to provide price quote information.
- Ryan Hedden – State Farm Insurance Agent
8611 Blondo St – Omaha, NE 68134 – (402) 392-1939 – View Map
- State Farm: Tom Rivera
3750 N 156th St – Omaha, NE 68116 – (402) 965-8880 – View Map
- Cyrus Jaffery – State Farm Insurance Agent
3015 North 90th Street Ste 3 – Omaha, NE 68134 – (402) 451-2500 – View Map
Choosing an insurance agent should depend on more than just a cheap quote. These are some questions you should get answers to.
- Will you work with the agent or an assistant?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Can they help ensure a fair claim settlement?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- How is replacement cost determined on your vehicle?
- Will a damage claim use OEM or aftermarket replacement parts?
If you feel you receive good feedback to your questions and an affordable coverage quote, you may have just found a car insurance agent that can properly insure your vehicles. Just remember you are able to terminate coverage whenever you choose to so never feel that you’re stuck with your new company for the full term.
Three reasons car insurance is important
Despite the high cost, buying car insurance is a good idea for several reasons.
- Most states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage if you drive a vehicle. 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 you bought your vehicle with a loan, more than likely the lender will force you to have comprehensive coverage to guarantee payment of the loan. If coverage lapses or is canceled, the bank will be required to insure your Lincoln at a much higher premium rate and force you to reimburse them much more than you were paying before.
- Insurance protects both your vehicle and your personal assets. It will also provide coverage for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance greatly outweigh the cost, particularly when you have a large claim. According to a recent study, the average American driver overpays more than $810 a year so you should quote your policy with other companies at every renewal to help ensure money is not being wasted.
Keep this in mind when shopping around
You just read many tips how you can get a better price on Lincoln MKT insurance in Omaha. The key thing to remember is the more price quotes you have, the better your comparison will be. You may even find the best car insurance rates are with a lesser-known regional company. Some small companies may have significantly lower premium rates on certain market segments than their larger competitors like Progressive and GEICO.
Budget-conscious Lincoln MKT insurance can be sourced from both online companies and from local insurance agents, so you need to quote Omaha car insurance with both in order to have the best chance of saving money. Some insurance providers may not have rate quotes online and most of the time these regional carriers provide coverage only through independent insurance agencies.
When buying insurance coverage, it’s very important that you do not reduce needed coverages to save money. There are many occasions where someone sacrificed collision coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to purchase a proper amount of coverage for the lowest price, but do not sacrifice coverage to save money.
To read more, feel free to browse the resources below:
- Drunk Driving Statistics (Insurance Information Institute)
- Who Has the Cheapest Omaha Car Insurance Quotes for High School Students? (FAQ)
- Who Has the Cheapest Omaha Car Insurance Rates for Electric Cars? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- What Does No-Fault Insurance Cover? (Allstate)
- Shopping for a Safe Car (Insurance Information Institute)