Ford Ford Mustang Insurance Rates
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UPDATED: Mar 9, 2020
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Searching for cheaper insurance for a new or used Ford Mustang can normally be a lot of work, but you can learn these tips and make it easy. There are both good and bad ways to compare insurance coverage rates so we’re going to tell you the absolute fastest way to quote coverages for a Ford and locate the lowest price either online or from local insurance agents.
How to Buy Car Insurance Online
Most companies such as State Farm, Allstate and GEICO provide insurance quotes on their websites. This process doesn’t take a lot of time as you simply type in the amount of coverage you want into a form. Once entered, their rating system sends out for your credit score and driving record and returns a price quote based on many factors.
Online quotes makes comparing rates easy, but the work required to visit different websites and complete many quote forms is monotonous and tiresome. But it is imperative to have as many quotes as possible if you want to find the lowest possible prices on car insurance.
The better way to compare rates
A more efficient way to get multiple rate quotes uses one form that gets prices from a bunch of companies at once. It’s a real time-saver, eliminates repetitive work, and makes online shopping much easier to do. After sending your information, it is quoted and you can select any one of the returned quotes. If the quotes result in lower rates, you can simply submit the application and buy the policy. The whole process only takes a few minutes and you’ll know if lower rates are available.
In order to get comparison pricing now, click here and submit the form. If you have coverage now, it’s recommended you copy coverages and limits exactly as they are listed on your policy. Doing this guarantees you will be getting an apples-to-apples comparison for similar coverage.
Cut prices on 1996 Ford Mustang insurance
Auto insurance companies do not advertise every discount very clearly, so we researched some of the best known and also the lesser-known ways to save on auto insurance. If you’re not getting every credit possible, you’re paying more than you need to.
- Save with a New Car – Insuring a new car can save up to 30% because new vehicles have to meet stringent safety requirements.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and earn discounts up to 10%.
- Safe Driver Discount – Insureds without accidents may receive a discount up to 45% less for Mustang insurance than less cautious drivers.
- Clubs and Organizations – Participating in certain professional organizations could qualify you for a break when shopping for auto insurance for Mustang insurance.
- Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts can get savings of up to 25% or more.
- Defensive Driver – Successfully completing a course in driver safety could possibly earn you a 5% discount depending on where you live.
- Bundle and Save – If you insure your home and vehicles with the same insurance company you could get a discount of up to 20% off your total premium.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use a seat belt could cut 10% or more off your medical payments premium.
As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Most only cut the cost of specific coverages such as comp or med pay. So despite the fact that it appears you can get free auto insurance, companies wouldn’t make money that way.
For a list of providers with the best auto insurance discounts, click here.
Complexity of Ford Mustang insurance rates
An important part of buying insurance is that you know the rating factors that come into play when calculating the price you pay for auto insurance. Having a good understanding of what determines base rates allows you to make educated decisions that will entitle you to big savings.
- Rural vs Urban Areas – Residing in a small town can save you money when talking about auto insurance. Urban drivers regularly have traffic congestion and much longer commute distances. Fewer drivers means reduced accidents and also fewer theft and vandalism claims.
- Optional equipment can affect rates – Driving a car with an alarm system can save you a little every year. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
- Don’t sacrifice liability coverage – Liability insurance is the protection if you are found to be at fault for causing damage or personal injury in an accident. Liability insurance provides legal defense coverage which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so do not skimp.
- Occupation reflects on rates – Did you know your occupation can influence how much you pay for auto insurance? Occupations like lawyers, architects and stock brokers tend to have the highest rates in part from high stress and lots of time spent at work. On the other hand, occupations like actors, students and homemakers receive lower rates for Mustang insurance.
- With age comes lower rates – Teenage drivers are statistically proven to be less responsible when behind the wheel so they pay higher auto insurance rates. Older insureds tend to be more responsible, tend to cause fewer accidents and receive fewer citations.
- Tickets mean higher rates – Only having one moving violation can increase rates by twenty percent. Good drivers have lower premiums compared to drivers with tickets. Drivers with flagrant tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to keep their license.
- Credit scores impact auto insurance rates – Credit score is a important factor in determining your rates. So if your credit score is lower than you’d like, you could potentially save money when insuring your 1996 Ford Mustang by improving your rating. People with high credit scores tend to be more responsible than those with poor credit.
Tailor your coverage to you
When it comes to choosing coverage for your vehicles, there is no best way to insure your cars. Every situation is different.
These are some specific questions might point out whether your personal situation could use an agent’s help.
- When do I need to add a new car to my policy?
- Does my 1996 Ford Mustang need full coverage?
- I have health insurance so do I need medical payments coverage?
- Will I be non-renewed for getting a DUI or other conviction?
- When does my teenage driver need to be added to my policy?
- Is borrowed equipment or tools covered if stolen or damaged?
- Why do I need rental car insurance?
- Why am I required to get a high-risk car insurance policy?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form. It is quick, free and can provide invaluable advice.
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Save $407 a year? Really?
Consumers can’t get away from ads that promise big savings from companies such as State Farm, Allstate and GEICO. They all say the same thing that you’ll save big if you change your policy.
But how can every company make almost identical claims?
Insurance companies have a preferred profile for the driver that makes them money. For instance, a preferred risk might be between 25 and 40, is a homeowner, and has a short commute. A customer that hits that “sweet spot” is entitled to the best price and most likely will save quite a bit of money when switching.
Potential customers who don’t measure up to the requirements will be quoted higher rates which leads to the driver buying from a lower-cost company. The ad wording is “drivers who switch” not “people who quote” save money. This is how insurance companies can confidently make the claims of big savings. This emphasizes why drivers must compare many company’s rates. It’s impossible to know which company will provide you with the cheapest Ford Mustang insurance rates.
Specific coverage details
Understanding the coverages of your auto insurance policy can be of help when determining which coverages you need for your vehicles. Auto insurance terms can be impossible to understand and reading a policy is terribly boring.
This will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as vandalism, a broken windshield, theft, damage from getting keyed and falling objects. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Liability car insurance
Liability coverage will cover damage that occurs to a person or their property in an accident. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.
Liability insurance covers things like emergency aid, court costs and medical services. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.
Collision coverage will pay to fix damage to your Mustang caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like backing into a parked car, rolling your car and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Another option is to raise the deductible to bring the cost down.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Ford Mustang.
Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage provide coverage for immediate expenses for nursing services, ambulance fees and rehabilitation expenses. They are used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers if you are hit as a while walking down the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
A penny earned…
Cheaper 1996 Ford Mustang insurance can be sourced on the web in addition to many insurance agents, and you should be comparing both so you have a total pricing picture. Some car insurance companies do not provide online price quotes and many times these small, regional companies only sell through independent insurance agents.
When buying insurance coverage, don’t be tempted to buy less coverage just to save a little money. Too many times, someone sacrificed comprehensive coverage or liability limits only to find out that a couple dollars of savings turned into a financial nightmare. Your focus should be to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.
Consumers who switch companies do it for a number of reasons such as policy non-renewal, not issuing a premium refund, being labeled a high risk driver or delays in paying claims. Regardless of your reason, finding a new company is not as hard as you think.
More learning opportunities
- Rental Car Insurance Tips (Insurance Information Insitute)
- Determing Auto Insurance Rates (GEICO)
- Event Data Recorders FAQ (iihs.org)
- Safety Belts FAQ (iihs.org)
- What is Covered by GAP Insurance? (Allstate)
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