Cheapest 2002 Mercury Cougar Insurance Rates in 2024
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UPDATED: Jun 2, 2023
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Looking for cheaper car insurance rates for your Mercury Cougar? Nobody I know cherishes buying car insurance, especially knowing the cost is way too high.
Since consumers have many car insurance companies to choose from, it can be impossible to locate the best company.
Mercury Cougar insurance rates have many determining factors
An important part of buying insurance is that you know the different types of things that help determine the price you pay for auto insurance. Understanding what influences your rates empowers consumers to make smart changes that will entitle you to better auto insurance rates.
- Theft deterrents lower rates – Driving a car with an alarm system can get you a discount on your auto insurance. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder car theft.
- How credit affects auto insurance rates – Credit score is a huge factor in determining your rates. People with high credit scores tend to be more responsible as compared to drivers with poor credit. Therefore, if your credit history is low, you could be paying less to insure your 2002 Mercury Cougar by improving your rating.
- Bump up deductibles to save – Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your Mercury from damage. Some instances where coverage would apply would be running into the backend of another car, damage caused by hail, and windstorm damage. Deductibles for physical damage are the amount of money you are willing to pay out-of-pocket in the event of a claim. The more money you are required to pay out-of-pocket, the less your auto insurance will be on Cougar insurance.
- More claims means more premium – Companies provide discounts to policyholders who are claim-free. If you tend to file frequent claims, you can look forward to either higher rates or even cancellation. Car insurance is intended to be relied upon for the large, substantial claims.
- Battle of the sexes – The statistics show that women are safer drivers than men. Now that doesn’t mean men are WORSE drivers than women. They both are in accidents in similar numbers, but the men tend to have more serious accidents. Men also statistically receive more costly citations such as DWI and reckless driving.
- Rates may be lower depending on your job – Did you know that where you work can have an impact on rates? Careers like doctors, business owners and financial analysts tend to have higher average rates due to job stress and long work days. Conversely, occupations such as farmers, engineers and homemakers receive lower rates on Cougar insurance.
Compare Quotes for Insurance
Performing a rate comparison can be a lot of work if you aren’t aware of the most efficient way. You can waste hours discussing policy coverages with insurance companies in your area, or you could use online quotes to achieve your goal.
Most major companies participate in an industry program that enables customers to submit their information once, and each company then returns a price quote determined by their information. This system prevents you from having to do quote requests to each company.
To enter your information into the quoting system, click here to open in new window.
The one disadvantage to getting quotes like this is that consumers can’t choose which carriers to get quotes from. If you wish to select specific insurance companies to compare rates, we put together a list of the cheapest insurance companies in your area. Click to view list.
Whichever way you use, ensure you’re using the exact same coverage information for every company. If the quotes have different limits and deductibles on each one you can’t possibly determine which rate is truly the best. Quoting even small variations in limits can mean a large discrepancy in price. And when quoting insurance, remember that getting more free quotes provides better odds of finding a lower rate.
How to save on 2002 Mercury Cougar insurance
Companies don’t list every available discount very well, so here is a list some of the best known and also the lesser-known insurance savings.
- Auto/Home Discount – If you have multiple policies with the same insurance company you may earn 10% to 20% off each policy.
- Club Memberships – Belonging to a professional or civic organization is a good way to get lower rates when buying insurance on Cougar insurance.
- Paperless Signup – Some insurance companies will give a small break for buying a policy and signing up on their website.
- Theft Prevention System – Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
- Drivers Ed for Students – Have your child enroll in driver’s education if offered at their school.
- Drive Less and Save – Keeping the miles down on your Mercury can earn a substantially lower rate.
As a disclaimer on discounts, some credits don’t apply to the entire policy premium. Some only apply to the cost of specific coverages such as medical payments or collision. Just because it seems like all those discounts means the company will pay you, you’re out of luck.
For a list of insurers who offer insurance discounts, click here.
Tailor your coverage to you
When buying adequate coverage for your vehicles, there really is not a single plan that fits everyone. Everyone’s situation is a little different so this has to be addressed. These are some specific questions might help in determining if you may require specific advice.
- Am I covered if I break a side mirror?
- Is business property covered if stolen from my car?
- Why am I required to get a high-risk car insurance policy?
- Does my policy cover me when driving someone else’s vehicle?
- Is my business laptop covered if it gets stolen from my vehicle?
- Am I covered when pulling a rental trailer?
If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.
Detailed coverages of your insurance policy
Understanding the coverages of insurance can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy. These are the normal coverages offered by insurance companies.
Liability insurance provides protection from damage that occurs to a person or their property that is your fault. This coverage protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.
Liability coverage pays for things like legal defense fees, repair bills for other people’s vehicles, repair costs for stationary objects and structural damage. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.
This coverage covers damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like damage from a tornado or hurricane, hitting a deer, falling objects and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical payments coverage and PIP
Medical payments and Personal Injury Protection insurance reimburse you for bills for nursing services, hospital visits, surgery and dental work. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Collision coverage protection
This coverage pays for damage to your Cougar caused by collision with another car or object. A deductible applies and then insurance will cover the remainder.
Collision can pay for things such as hitting a mailbox, driving through your garage door, scraping a guard rail and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.
Uninsured/Underinsured Motorist coverage
This gives you protection when the “other guys” 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 doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.
More comparisons equals lower rates
When trying to cut insurance costs, you should never skimp on critical coverages to save a buck or two. Too many times, consumers will sacrifice comprehensive coverage or liability limits only to find out that it was a big error on their part. Your focus should be to find the BEST coverage at a price you can afford.
You just read a lot of information how to lower your 2002 Mercury Cougar insurance rates. The key thing to remember is the more times you quote, the better likelihood of reducing your rate. Consumers could even find that the lowest rates come from some of the smallest insurance companies. Some small companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.
Additional information is available at these links:
- Anti-Lock Brake FAQ (iihs.org)
- Should I Buy a New or Used Car? (Allstate)
- Uninsured Motorist Statistics (Insurance Information Insitute)
- Get the Right Protection (InsureUonline.org)
- If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
Frequently Asked Questions
How can I find cheaper car insurance rates for my 2002 Mercury Cougar?
To find cheaper car insurance rates for your 2002 Mercury Cougar, you have a few options. One efficient way is to use online quotes to compare rates from different insurance companies. Many major companies participate in an industry program where you can submit your information once, and each company will return a price quote based on that information. Another option is to check a list of the cheapest insurance companies in your area and request quotes from specific companies. Remember to use the exact same coverage information for every company to accurately compare rates.
What factors determine Mercury Cougar insurance rates?
There are several factors that influence the price you pay for auto insurance. Some common determining factors include your driving record, age, gender, location, credit history, type of vehicle, coverage limits, and deductibles. Insurance companies use these factors to assess the level of risk associated with insuring you and your vehicle.
Are there any discounts available for car insurance?
Yes, many insurance companies offer discounts that can help you save on your car insurance premiums. Some of the well-known discounts include safe driver discounts, good student discounts, multi-policy discounts, and anti-theft device discounts. However, it’s important to note that not all discounts apply to the entire policy premium and some may only apply to specific coverages. Make sure to check with your insurance provider to see which discounts you may be eligible for.
How do I tailor my coverage to suit my needs?
When selecting car insurance coverage, there isn’t a one-size-fits-all plan. Your coverage needs depend on various factors, such as your driving habits, the value of your vehicle, your financial situation, and your risk tolerance. Consider factors like liability coverage limits, comprehensive coverage, collision coverage, medical payments coverage, and uninsured/underinsured motorist coverage. It may be helpful to consult a licensed insurance agent who can provide personalized advice based on your specific situation.
What are the different types of insurance coverage?
- Liability insurance: Protects you from damage you cause to others or their property.
- Comprehensive coverage: Covers non-collision damage to your vehicle (theft, vandalism, natural disasters).
- Medical payments and Personal Injury Protection (PIP): Cover medical expenses for you and your passengers.
- Collision coverage: Pays for damage to your vehicle in a collision with another vehicle or object.
- Uninsured/underinsured motorist coverage: Protects you if involved in an accident with an uninsured or underinsured driver.
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