The national average cost for insuring a Lincoln MKZ is $1,400 a year. You will find that this rate will vary depending on your driving record, your age, gender and the insurance company that you choose.
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The Lincoln MKZ is a luxury sedan, however the price range for this car is much lower than you would except from a luxury sedan. The starting price for the Lincoln MKZ is $34,330 for a standard hybrid model. For a fully loaded model, you can expect to pay about $41,500.
Despite the fact that this is a reasonable price for a luxury sedan, it is still an expensive car when it comes to what your car insurance company wants to pay. In addition, the depreciation on this car is low, about $5,800 the first year and around $3,000 each year after that.
The bad news is that this means that the insurance company will charge you more for your car.
The good news is that if you want to sell your Lincoln MKZ at a future date you will be able to get more for it than you would other types of cars.
How does the Lincoln MKZ compare to others in terms of annual car insurance rates?
Data shows that the Lincoln MKZ is fairly comparable to the Ford Fusion and the Mazda 6. The total cost of ownership statistics from Intellichoice for the Lincoln MKZ indicate as much, with an estimated annual cost of just over $1,300. Keep in mind that this number is only applicable to the gasoline-powered MKZ. Lincoln makes a hybrid version of this vehicle that has higher average rates.
At $1,300 annually, the cost of car insurance represents approximately 12% of the total cost of ownership. This is good news on two fronts. First of all, it’s generally accepted in the industry that insurance should not exceed 18% to 20% of the total cost of ownership, so the 12% for this car is actually very good. Secondly, our 12% calculation only applies to the first year of ownership when the total cost is in the neighborhood of $11,000. Yet even as the car depreciates over the next five years, the car loses only about $2,800 in value.
What Lincoln MKZ features will affect my car insurance cost?
First are the safety features and safety ratings. It depends on how old your Lincoln MKZ is as to what the safety ratings and features are going to be.
A brand new Lincoln MKZ has:
- AdvanceTrac – minimizes skidding
- Anti lock brakes
- Blind spot information system
- Sync voice – activates phone and navigation system
- Rain sensor wipers and lights
- MyKey – assign a key to specific drivers to control max speed of vehicle and max volume for radio among other things
- Six standard airbags – driver and passengers
- Steel cage
Lincoln MKZ 2007 to 2010 models all have the six standard airbags, some models prior to 2007 had this as an alternative, but most don’t.
The 2009-2011 MKZ models all have the maximum ratings for rear end collision. However, in front impact accidents only 2007 to 2009 models have average ratings, 2010 to 2011 have maximum ratings and all Lincoln MKZs that are older than 2007 have marginal ratings.
These ratings also apply to roof strength for the MKZ 2007. After 2007 the steel cage was introduced to the Lincoln MKZ; this accounts for the higher safety ratings.
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What about safety ratings and car insurance rates?
Safety ratings certainly play a role in determining how much you will pay for car insurance. This is especially true when it comes to minimum liability coverage and bodily injury. Since car insurance companies must provide coverage for injuries sustained by passengers, the safer a vehicle is the better it is for your rates. Conversely, a vehicle that is deemed less safe presents the insurance company with the potential of having to pay out more in bodily injury insurance claims.
The IIHS gave the vehicle a good (G) rating for the following four categories: front impact, side impact, rear impact/head restraint, and roof strength. In achieving such high ratings, Lincoln has demonstrated that its MKZ is a very safe vehicle for both drivers and passengers.
Another typical source of crash test safety ratings is the National Highway Traffic Safety Administration (NHTSA). Unfortunately, there is no data to glean from them because they have not tested the Lincoln MKZ for the 2011 or 2012 model years.
How can I lower my Lincoln MKZ car insurance cost?
If you want to lower your auto insurance rates then you need to take advantage of any discounts offered by your insurance company. These can include:
- Purchasing multiple policies from the same company
- Only insuring good drivers on your vehicle
- Investing in anti-theft devices
- Choosing a higher deductible
- Take defensive driving courses
You can also save money by:
- Keep teen drivers out of your car
- Maintaining a good driving record
- Keep low mileage on your car
- Shopping around for car insurance rates
How can I make my current car insurance company lower my Lincoln MKZ cost?
Some insurance companies are very flexible when it comes to their established customers and some, quite frankly, have no wiggle room at all. If you are happy with your insurance company but aren’t sure about the rates that they are charging, especially if they haven’t gone down over the years, then you should call them.
If you have a good driving record and no claims, then you should be able to negotiate on your rates.
Because insurance rates change all of the time, when it comes time to renew your policy, you should see a difference in your rates. If you have been with a company for a while, your rates should reduce; again based on no claims and a good driving record.
If you get a car insurance quote from other companies before you call your insurance company, then you can use those quoted lower rates to negotiate. Some companies will claim that you pay more for their better customer service. This may be true; it is up to you to determine just how much that benefit is worth.
For example, Progressive is known for their great customer service and fast paying claims. However, if you are paying $140 a month at Progressive and are quoted $120 a month from another company you need to decide if a service you rarely use is worth an additional $20 a month. For some people it is; for others, not so much!
If your insurance company won’t work with you, don’t threaten them, just make a switch. Enter your ZIP code below right now to get online car insurance quotes for FREE to see what you could be paying for your Lincoln MKZ insurance!