Ford Ford Mustang Insurance Rates
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UPDATED: Feb 11, 2020
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Looking for cheaper insurance coverage rates? Shoppers have lots of choices when shopping for the lowest priced Ford Mustang SVT Cobra insurance. You can either waste hours struggling with agents trying to get quotes or save time using the internet to find the lowest rates.
There is a better way to shop for insurance coverage and we’ll show you the best way to quote coverages for your Ford and locate the cheapest rates from local insurance agents and online providers.
It’s a good idea to do rate comparisons occasionally because prices change quite often. Even if you got the lowest price on Mustang SVT Cobra coverage two years ago you can probably find a better price now. Forget anything you know (or think you know) about insurance coverage because you’re about to find out the right way to buy cheaper insurance coverage.
Insurance Prices Online
Most major insurance companies quote insurance quotes directly from their websites. Obtaining pricing is quite simple as you just enter your coverage preferences as detailed in the form. When the form is submitted, their system will order your driving and credit reports and gives you a price quote.
Quoting online makes it a lot easier to compare rates but the time required to go to many different websites and complete many quote forms is monotonous and tiresome. But it is imperative to compare as many rates as possible in order to find the best price possible.
The smarter way to lower your rates uses one form that gets prices from a bunch of companies at once. It’s a real time-saver, requires less work, and makes rate comparisons much more enjoyable and efficient. Immediately after you send the form, your coverage is rated and you can choose any one of the quotes that you receive.
If one or more price quotes are lower than your current rates, you can simply submit the application and buy the new coverage. This process can be completed in a matter of minutes and may result in a nice savings.
If you want to compare rates now, simply click here to open in new window and enter your information. If you have your current policy handy, we recommend you duplicate coverages and limits as shown on your current policy. Doing this assures you will be getting a rate comparison for the exact same coverage.
Impacting insurance rates for a Ford Mustang SVT Cobra
An important part of buying insurance is that you know the factors that go into determining the price you pay for insurance coverage. When you know what positively or negatively influences your rates helps enable you to make changes that will entitle you to better insurance coverage rates.
Listed below are a partial list of the pieces that factor into prices.
- Safer occupants lowers premiums – Vehicles with high crash test scores tend to have better insurance rates. The safest vehicles have better occupant injury protection and lower injury rates means lower claim amounts and thus lower rates. If your Ford scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
- More claims means more premium – Auto insurance companies provide better rates to drivers who file claims infrequently. If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Car insurance is intended to be relied upon for major claims that would cause financial hardship.
- A clean driving record saves money – Your driving record has a lot to do with how much you pay for insurance. Drivers with clean records receive lower rates than their less careful counterparts. Just one ticket may increase your cost by twenty percent. Drivers who get dangerous violations like hit and run, DWI or reckless driving convictions may be required to submit a SR-22 form to the state department of motor vehicles in order to prevent a license revocation.
- Your location affects your rates – Living in small towns and rural areas has it’s advantages when buying insurance coverage. City drivers have to deal with congested traffic and longer commutes to work. Lower population means reduced accidents as well as less vandalism and auto theft.
- Do you know you’re credit rating? – A driver’s credit score is a huge factor in your rate calculation. If your credit rating is lower than you’d like, you could save money insuring your 1997 Ford Mustang SVT Cobra by improving your rating. Consumers who have high credit ratings tend to be less risk to insure than those with poor credit.
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More discounts equal less premium
Properly insuring your vehicles can get expensive, but discounts can save money and there are some available that you may not even be aware of. Most are applied when you quote, but a few need to be manually applied prior to receiving the credit. If you don’t get every credit you qualify for, you are paying more than you should be.
- Multiple Policy Discount – When you combine your home and auto insurance with the same insurance company you may save 10% to 20% off each policy.
- Safe Drivers – Safe drivers may save up to 50% more on Mustang SVT Cobra coverage than drivers with accident claims.
- No Charge for an Accident – A few companies allow you one accident without raising rates if you are claim-free for a set time period.
- Anti-theft Discount – Anti-theft and alarm systems prevent vehicle theft and therefore earn up to a 10% discount.
- Multiple Cars – Buying insurance for all your vehicles with the same company qualifies for this discount.
- Discount for Life Insurance – Select insurance companies reward you with better rates if you take out a life insurance policy as well.
- Organization Discounts – Belonging to a qualifying organization may earn a discount when shopping for auto insurance on Mustang SVT Cobra coverage.
- Braking Control Discount – Vehicles equipped with ABS or steering control can reduce accidents and earn discounts up to 10%.
- Payment Discounts – If you pay your entire premium ahead of time instead of making monthly payments you may reduce your total bill.
- Accident Free – Good drivers with no accidents can earn big discounts compared to frequent claim filers.
Consumers should know that most discount credits are not given to your bottom line cost. Some only apply to the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like all the discounts add up to a free policy, you’re out of luck. Any amount of discount will reduce your overall premium however.
For a list of insurers offering auto insurance discounts, follow this link.
It’s not one size fits all
When it comes to buying the right insurance coverage, there really is not a one size fits all plan. Everyone’s situation is a little different.
Here are some questions about coverages that can aid in determining if your situation will benefit from professional help.
- Do I need rental car coverage?
- Are my friends covered when driving my car?
- Are rock chip repairs covered?
- Is rental equipment covered for theft or damage?
- Can I get a multi-policy discount for packaging my home and auto coverage?
- How can I get high-risk coverage after a DUI?
- Do I need medical payments coverage since I have good health insurance?
- When should I not file a claim?
If it’s difficult to answer those questions but you know they apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, complete this form. It’s fast, free and can provide invaluable advice.
Specific coverages for a 1997 Ford Mustang SVT Cobra
Understanding the coverages of your insurance policy can be of help when determining the best coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.
Comprehensive or Other Than Collision
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as fire damage, hitting a deer, theft, falling objects and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
This coverage covers damage to your Mustang SVT Cobra from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers things such as driving through your garage door, hitting a mailbox, sustaining damage from a pot hole, colliding with a tree and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.
Auto liability insurance
This coverage protects you from injuries or damage you cause to people or other property by causing an accident. It protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged property. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability can pay for claims such as emergency aid, repair costs for stationary objects, medical services and structural damage. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.
Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these coverages are identical to your policy’s liability coverage.
Medical costs insurance
Coverage for medical payments and/or PIP kick in for immediate expenses for things like doctor visits, pain medications, funeral costs and chiropractic care. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not universally available and may carry a deductible
More quotes mean more savings
Lower-priced 1997 Ford Mustang SVT Cobra insurance can be purchased both online as well as from independent agents, and you need to comparison shop both to have the best rate selection. Some companies don’t offer the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.
Drivers change insurance companies for a number of reasons such as high prices, delays in responding to claim requests, poor customer service or being labeled a high risk driver. No matter why you want to switch, choosing a new insurance company is pretty easy and you might even save some money in the process.
As you prepare to switch companies, don’t be tempted to buy less coverage just to save a little money. There are too many instances where someone sacrificed physical damage coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.
Much more information about auto insurance is available at the links below
- Five Mistakes to Avoid (Insurance Information Insitute)
- Steps to Take After an Auto Accident (Insurance Information Insitute)
- Booster Seat Ratings (iihs.org)
- Avoiding Deer Collisions (Insurance Information Insitute)
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