2003 Ford Taurus Car Insurance Cost – 8 Ways to Save
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UPDATED: Mar 18, 2020
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Want lower car insurance rates for your Ford Taurus? Feel like you’re a prisoner to high-priced car insurance? Believe me when I say you’re not the only one. Multiple insurers compete for your business, and it can be difficult to compare rates to discover the definitive best price available.
It’s smart to get comparison quotes once or twice a year because insurance rates are rarely the same from one policy term to another. Just because you had the lowest rates on Taurus coverage a couple years back you may be paying too much now. Forget anything you know (or think you know) about car insurance because you’re about to find out one of the quickest ways to lower your rates without sacrificing coverage.
Cut prices on Ford Taurus insurance
Car insurance can cost a lot, but there could be available discounts that can drop the cost substantially. Certain discounts will be triggered automatically when you quote, but lesser-known reductions have to be inquired about before you will receive the discount. If you don’t get every credit available, you are throwing money away.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems can reduce accidents and therefore earn up to a 10% discount.
- Multiple Vehicles – Buying coverage for multiple vehicles on the same auto insurance policy qualifies for this discount.
- Low Mileage Discounts – Fewer annual miles on your Ford can earn discounted rates on garaged vehicles.
- Multiple Policy Discount – If you insure your home and vehicles with one company you may earn up to 20% off your total premium.
- Save over 55 – Mature drivers can possibly qualify for reduced rates on Taurus coverage.
- New Car Discount – Adding a new car to your policy can save up to 30% compared to insuring an older model.
- Seat Belts Save – Drivers who require all occupants to use their safety belts can save 10% or more off your PIP or medical payments premium.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
Drivers should understand that most discounts do not apply to the entire policy premium. Most only apply to the price of certain insurance coverages like comp or med pay. So even though it sounds like all those discounts means the company will pay you, you’re out of luck. But all discounts will reduce your overall premium however.
For a list of insurers who offer auto insurance discounts, click here to view.
Tailor your coverage to you
When it comes to buying the right insurance coverage for your personal vehicles, there really is no single plan that fits everyone. Coverage needs to be tailored to your specific needs so your insurance needs to address that. For example, these questions may help highlight if you may require specific advice.
- Exactly who is provided coverage by my policy?
- Are my tools covered if they get stolen from my vehicle?
- Where can I find high-risk insurance?
- How can I get my company to pay me more for my totalled car?
- Do I need medical payments coverage since I have good health insurance?
- Can I still get insurance after a DUI?
- How much can I save by bundling my policies?
If it’s difficult to answer those questions but one or more may apply to you, 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. It only takes a few minutes and you can get the answers you need.
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Insurance policy coverages for a Ford Taurus
Learning about specific coverages of insurance can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. Shown next are the usual coverages offered by insurance companies.
Comprehensive protection – This pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as hail damage, a tree branch falling on your vehicle and vandalism. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Liability coverage – This will cover injuries or damage you cause to people or other property. It protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage pays for claims such as legal defense fees, repair costs for stationary objects, emergency aid, funeral expenses and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.
Medical expense coverage – Med pay and PIP coverage kick in for immediate expenses like dental work, nursing services and surgery. They are used to fill the gap from your health insurance plan or if you lack health insurance entirely. They cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Uninsured or underinsured coverage – This coverage gives you protection when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your 2003 Ford Taurus.
Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally these coverages are set the same as your liablity limits.
Collision coverage – This pays for damage to your Taurus resulting from a collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things like sustaining damage from a pot hole, scraping a guard rail, hitting a mailbox, driving through your garage door and rolling your car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.
Shop. Compare. Save.
We just showed you quite a bit of information on how to shop for 2003 Ford Taurus insurance online. The key concept to understand is the more companies you get rates for, the better likelihood of reducing your rate. You may even find the lowest priced insurance comes from some of the smallest insurance companies. Smaller companies may have significantly lower rates on certain market segments as compared to the big name companies such as State Farm and Allstate.
As you shop your coverage around, don’t be tempted to reduce coverage to reduce premium. In many cases, an insured cut full coverage only to regret at claim time that the small savings ended up costing them much more. The aim is to buy a smart amount of coverage for the lowest price while still protecting your assets.
Lower-priced insurance is available on the web and with local insurance agents, so you should compare both to get a complete price analysis. Some companies do not offer online price quotes and these small, regional companies work with independent agents.
Additional information is located at the links below
- Eight Auto Insurance Myths (Insurance Information Insitute)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
- Young Drivers: The High Risk Years Video (iihs.org)
- Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
- Smart Auto Insurance Tips (Insurance Information Insitute)
- How to Avoid Common Accidents (State Farm)
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