1994 Ford Mustang Insurance Rates
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UPDATED: Mar 9, 2020
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Average insurance rates for a 1994 Ford Mustang are $1,030 a year for full coverage insurance. Comprehensive insurance costs an estimated $144, collision costs $206, and liability costs $500. Buying a liability-only policy costs as little as $560 a year, with high-risk insurance costing $2,214 or more. Teenage drivers receive the highest rates at $4,234 a year or more.
Annual premium for full coverage: $1,030
Rate estimates for 1994 Ford Mustang Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 1994 Ford Mustang models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For the average driver, prices range go from as low as $560 for just liability insurance to the much higher price of $2,214 for a driver that may need high-risk insurance.
These differences illustrate why everyone should compare rates for a targeted area and risk profile, instead of using average rates.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 1994 Ford Mustang Insurance
Looking for cheaper insurance rates for your Ford Mustang? Shopping online for insurance can be a challenge if you have never used online quotes. But relax because finding affordable coverage online is easier than you think.
Compare Insurance Today
To find the best insurance prices, there are several ways of comparing rates from different insurance companies. By far the easiest way to find the cheapest 1994 Ford Mustang insurance rates is to use the internet to compare rates. This can be done using a couple different methods.
- One of the best ways to get the best comparison quotes is a comparison rater form click here to open form in new window. This form keeps you from doing repetitive form submissions to each individual insurance company. Just one form will get you price quotes from multiple companies. Recommended for those who want to invest the least amount of time.
- A more time consuming way to compare rate quotes requires a visit to the website for every company you want to comare and fill out their own quote form. For example, we’ll assume you want rates from Allstate, Farmers and Liberty Mutual. To get rate quotes you would need to visit each site and enter your information, which is why the first method is quicker. For a handy list of car insurance company links in your area, click here.
It’s up to you how you get prices quotes, just make sure you use identical deductibles and coverage limits on every quote you get. If you enter different deductibles you will not be able to decipher which rate is best. Having just a slight variation in insurance coverages may cause a big price difference. Just remember that getting more free quotes helps locate the best offered rates.
Pay less for 1994 Ford Mustang insurance
Properly insuring your vehicles can get expensive, but you can get discounts that can drop the cost substantially. Most are applied when you quote, but less common discounts must be specifically requested before they will apply.
- Government Employees – Employees or retirees of the government can save as much as 8% for Mustang coverage depending on your company.
- Life Insurance Discount – Larger companies have better rates if you take out life insurance from them.
- Passive Restraints – Factory air bags or automatic seat belts can receive discounts of more than 20%.
- Distant Student – Children who attend school more than 100 miles from home without a vehicle on campus may qualify for this discount.
- Lower Rates for Military – Having a family member in the military could mean lower rates.
Drivers should understand that some of the credits will not apply the whole policy. Most only reduce specific coverage prices like liability, collision or medical payments. So even though they make it sound like you could get a free insurance policy, insurance companies aren’t that generous. Any qualifying discounts will reduce the cost of coverage.
Companies that possibly offer these benefits include:
Before buying, ask every prospective company how you can save money. Discounts might not be offered in your area.
Tailor your coverage to you
When it comes to choosing proper insurance coverage, there is no one size fits all plan. Everyone’s situation is a little different.
For instance, these questions can aid in determining whether you will benefit from professional help.
- Should I get collision insurance on every vehicle?
- Do I need to file an SR-22 for a DUI in my state?
- How high should my medical payments coverage be?
- Do I pay less for low miles?
- Does my car insurance cover rental cars?
- Are split liability limits better than a combined single limit?
- When would I need rental car insurance?
- Should I buy only the required minimum liability coverage?
If you can’t answer these questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form.
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Car insurance coverage information
Knowing the specifics of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like damage from a tornado or hurricane, hitting a deer, falling objects and a tree branch falling on your vehicle. The maximum payout your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your 1994 Ford Mustang.
Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually the UM/UIM limits do not exceed the liability coverage limits.
Coverage for collisions
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as rolling your car, colliding with another moving vehicle, colliding with a tree and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to increase the deductible to save money on collision insurance.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like prosthetic devices, hospital visits, doctor visits and surgery. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. PIP coverage is not universally available and gives slightly broader coverage than med pay
Liability auto insurance
This protects you from damage or injury you incur to a person or their property in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against claims like structural damage, legal defense fees, pain and suffering and attorney fees. The amount of liability coverage you purchase is a personal decision, but buy as large an amount as possible.
The best insurance company isn’t always the cheapest
People switch companies for many reasons like policy non-renewal, denial of a claim, high prices or being labeled a high risk driver. Regardless of your reason, choosing a new company is actually quite simple.
Low-cost 1994 Ford Mustang insurance can be found both online and also from your neighborhood agents, so compare prices from both to have the best selection. There are still a few companies who may not provide you the ability to get quotes online and many times these smaller companies only sell through independent insurance agents.
When buying insurance coverage, never skimp on critical coverages to save a buck or two. There are a lot of situations where an insured dropped collision coverage and discovered at claim time that the savings was not a smart move. Your aim should be to find the BEST coverage for the lowest price.
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Electronic Stability Control FAQ (iihs.org)
- What are my Rights when Filing a Claim? (Insurance Information Insitute)
- Credit and Insurance Scores (Insurance Information Insitute)
- Distracted Driving Extends Beyond Texting (State Farm)
Rates by U.S. City
|New York City, NY||$1,623|
|Los Angeles, CA||$1,758|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$61|
|5-yr Claim Free||$64|
|Paid in Full/EFT||$36|
Discounts are estimated and may not be available from every company or in every state.