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Ford Ford Mustang Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Feb 11, 2020

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Have you had enough of scraping the payment together to insure your Ford every month? You’re in the same situation as the majority of other car owners.

Big companies like GEICO and Progressive constantly bombard you with ad campaigns and consumers find it hard to sift through the bull and take the time to shop coverage around.

If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using these techniques. Choosing the best insurance company for you is not rocket science. But consumers must know how the larger insurance companies compete online and take advantage of how the system works.

Ford Mustang SVT Cobra insurance rates have many determining factors

Smart consumers have a good feel for the factors that go into determining car insurance rates. Understanding what impacts premium levels helps enable you to make changes that can help you get big savings.

Listed below are a partial list of the pieces that factor into your rates.

  • High deductibles save money – Deductibles for physical damage represent how much money you are willing to pay before your car insurance pays a claim. Physical damage insurance, termed comprehensive and collision coverage on your policy, insures against damage to your car. Examples of covered claims could be colliding with a building, collision with an animal, and burglary. The more you’re willing to pay, the less your company will charge you for insurance on Mustang SVT Cobra insurance.
  • How credit affects car insurance rates – Your credit rating is a important factor in calculating your car insurance rates. Drivers who have good credit tend to be better drivers and file fewer claims as compared to drivers with poor credit. If your credit score can use some improvement, you could potentially save money when insuring your 1999 Ford Mustang SVT Cobra by repairing your credit.
  • Don’t get talked into coverage you don’t need – There are a lot of additional coverages that you can buy on your car insurance policy. Coverages for personal injury protection, towing coverage and term life insurance may be costing you every month. These may sound like a good investment initially, but if they’re wasting money eliminate them to save money.
  • Small claims can cost you – Companies give lower rates to insureds who are claim-free. If you frequently file small claims, you can pretty much guarantee either policy cancellation or increased premiums. Car insurance is designed for larger claims.
  • Where do you drive? – Driving more miles in a year the more you’ll pay to insure your vehicle. Most insurance companies charge to insure your cars determined by how the vehicle is used. Cars not used for work or commuting receive lower rates than vehicles that are driven to work every day. Ask your agent if your car insurance coverage is rated on the proper vehicle usage, because improper ratings can cost you money. Incorrect usage on your Mustang SVT Cobra can cost quite a bit.
  • Never allow your policy to lapse – Driving without insurance can get your license suspended and as a result your rates will increase for letting your coverage have a gap. And not only will your rates increase, but not being able to provide proof of insurance might get you a steep fine or even jail time.You may have to prove you have insurance by filing a SR-22 with your state motor vehicle department.
  • Where you live is a factor – Living in less populated areas is a positive aspect when it comes to car insurance. Fewer drivers means a lower chance of having an accident and a lower car theft rate. Urban drivers have to deal with more traffic problems and a longer drive to work. More time on the road means higher likelihood of an accident.

Are you getting all your discounts?

Insurance can cost an arm and a leg, buy you may qualify for discounts that you may not know about. Some discounts apply automatically at the time of quoting, but some must be inquired about before you will receive the discount.

  • Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes are safer to drive and therefore earn up to a 10% discount.
  • Government Employees – Active or retired federal employment can save as much as 8% on Mustang SVT Cobra insurance with select insurance companies.
  • Claim Free – Drivers with accident-free driving histories pay much less compared to frequent claim filers.
  • Passive Restraint Discount – Vehicles equipped with air bags or automatic seat belts can get savings up to 30%.
  • Defensive Driver – Successfully completing a driver safety course could possibly earn you a 5% discount if you qualify.
  • Payment Discounts – By paying your policy upfront instead of making monthly payments you can actually save on your bill.
  • One Accident Forgiven – A few companies permit an accident without raising rates if your claims history is clear prior to the accident.

As a disclaimer on discounts, some credits don’t apply the whole policy. A few only apply to the cost of specific coverages such as collision or personal injury protection. So when the math indicates you can get free auto insurance, you’re out of luck. But any discount will help reduce your premiums.

Companies who might offer these money-saving discounts include:

Before buying, ask every prospective company which discounts they offer. Savings may not be available in your area.

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Tailor your coverage to you

When choosing proper insurance coverage, there is no “perfect” insurance plan. Everyone’s situation is unique so your insurance should reflect that Here are some questions about coverages that might point out if your situation would benefit from an agent’s advice.

  • Am I covered if my car is in a flood?
  • Is my babysitter covered when using my vehicle?
  • How do I insure my teen driver?
  • Does liability extend to a camper or trailer?
  • Are all vehicle passengers covered by medical payments coverage?
  • Can I drive in Mexico and have coverage?
  • What is the difference between comprehensive and collision coverage?
  • Do I have coverage if my license is suspended?
  • Can I get a multi-policy discount for packaging my home and auto coverage?

If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

Coverage specifics

Having a good grasp of your policy aids in choosing which coverages you need at the best deductibles and correct limits. Insurance terms can be difficult to understand and coverage can change by endorsement. These are typical coverage types found on the average insurance policy.

UM/UIM Coverage

This gives you protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea. Frequently these coverages are identical to your policy’s liability coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses for prosthetic devices, hospital visits, ambulance fees and nursing services. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Liability insurance

Liability insurance provides protection from damage or injury you incur to people or other property. This insurance protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Another option is a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims like court costs, pain and suffering, attorney fees, loss of income and medical services. How much coverage you buy is a personal decision, but buy as high a limit as you can afford.

Coverage for collisions

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like scraping a guard rail, colliding with a tree, hitting a mailbox and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to save money on collision insurance.

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays for 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 protects against things like hitting a deer, a broken windshield, damage from getting keyed and falling objects. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

A little work can save a LOT of money

We covered some good ideas how you can reduce 1999 Ford Mustang SVT Cobra insurance prices online. The key concept to understand is the more you quote, the better chance you’ll have of finding lower rates. Consumers may even find the lowest premiums are with a small local company. These companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate or State Farm.

As you prepare to switch companies, make sure you don’t sacrifice coverage to reduce premiums. There are a lot of situations where an insured cut liability limits or collision coverage only to regret that the small savings ended up costing them much more. The proper strategy is to buy enough coverage at the best price while still protecting your assets.

Lower-priced insurance can be bought both online and also from your neighborhood agents, and you should compare price quotes from both so you have a total pricing picture. Some insurance providers may not provide online price quotes and many times these small, regional companies only sell through independent insurance agents.

Additional detailed information is available by following these links:

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