Cheapest 2005 Ford Five Hundred Insurance Rates in 2023
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UPDATED: Jun 3, 2023
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Looking for cheaper auto insurance rates for your Ford Five Hundred? Nobody I know enjoys paying for auto insurance, in particular when the price is too high.
Companies like GEICO, 21st Century and Progressive all claim big savings with fancy advertisements and it can be hard to avoid their marketing magic and find the best price available.
If you currently have car insurance, you will most likely be able to cut costs considerably using these tips. Buying car insurance is easy if you know what you’re doing. Nevertheless, drivers must understand the way companies market insurance on the web and use this information to your advantage.
Your Ford Five Hundred insurance rate is a complex equation
Consumers need to have an understanding of the rating factors that come into play when calculating your insurance coverage rates. Understanding what influences your rates allows you to make educated decisions that could result in big savings.
- Men are more aggressive – Statistics demonstrate women are more cautious behind the wheel. Now that doesn’t mean men are worse drivers. Both sexes have accidents in similar percentages, but the males tend to have more serious accidents. They also get cited for more serious violations like DUI and reckless driving.
- Little extras can really add up – There are quite a few add-on coverages that you can get tricked into buying on your insurance coverage policy. Insurance for roadside assistance, accidental death and membership fees are examples of these. These may sound like a good investment initially, but your needs may have changed so eliminate the coverages to reduce your premium.
- Mature drivers pay less – Teen drivers have a tendency to be more careless behind the wheel so they pay higher insurance coverage rates. If you’ve ever had to add a teenage driver onto your insurance coverage can break the bank. Older drivers are viewed as being more responsible, tend to file fewer claims and tend to be better behind the wheel.
- Bad driving skills means higher rates – Your driving citation history impacts your car insurance rates tremendously. Just one citation can bump up the cost twenty percent or more. Drivers who don’t get tickets get better rates than their less careful counterparts. Drivers who have dangerous citations like DUI or reckless driving may need to submit a SR-22 form with their state DMV in order to prevent a license revocation.
- Rural vs Urban Areas – Living in a small town can be a good thing when insuring your vehicles. Drivers who live in large cities have to deal with much more traffic and longer commute times. Fewer people translates into fewer accidents as well as less vandalism and auto theft.
- Do you work long hours in a high stress job? – Did you know your insurance coverage rates can be affected by your occupation? Careers like judges, business owners and financial analysts tend to pay higher average rates attributed to high stress and lots of time spent at work. Conversely, professions such as farmers, engineers and homemakers have the lowest average rates for Five Hundred coverage.
- Higher deductibles cost less – The deductibles define the amount you are willing to pay out-of-pocket in the event of a claim. Coverage for physical damage, also known as collision and other-than-collision, protects your car from damage. Some examples of claims that would be covered are running into the backend of another car, damage from fire, and windstorm damage. The higher the amount the insured has to pay upfront, the lower your rates will be for Five Hundred coverage.
How to Lower Your Insurance Coverage Cost
There are several ways of comparing price quotes from different insurance companies. The fastest way to find the lowest 2005 Ford Five Hundred rates consists of obtaining rate quotes online. It is quite easy and can be accomplished in a couple of different ways.
- Probably the best way to compare a lot of rates at once would be an industry-wide quote request form like this one (opens in new window). This method saves time by eliminating separate quote forms for each company you want a rate for. One quote request will return quotes direct from many companies.
- Another way to compare rate quotes consists of visiting each individual company website to complete a price quote. For instance, we’ll assume you want to compare Nationwide, Liberty Mutual and State Farm. To get rate quotes you would need to spend time on each company’s site and enter your policy data, which is why the first method is more popular. To view a list of companies in your area, click here.
- The hardest method to compare rates is driving around to insurance agents’ offices. Buying insurance online can eliminate the need for a local agent unless you want the trained guidance of a local agent. You can, however, price shop online and get advice from an agent in your area and you’ll learn how to do that later.
It’s up to you which method you use, but ensure you’re using the exact same information with every price quote. If each company quotes unequal deductibles or liability limits it’s impossible to determine which rate is truly the best. Having just a slight variation in limits can mean a large discrepancy in price. And when comparison shopping, getting more free quotes will increase your chances of finding better pricing.
Don’t miss these discounts
Properly insuring your vehicles can get expensive, buy you may qualify for discounts that many people don’t even know exist. Most are applied when you complete an application, but less common discounts must be manually applied prior to getting the savings.
- Defensive Driver – Completing a driver safety course could save 5% or more if your company offers it.
- 55 and Retired – Older drivers may be able to get a small decrease in premiums for Five Hundred coverage.
- Paperwork-free – A handful of insurance companies may give you up to $50 just for signing your application on their website.
- Auto/Home Discount – When you have multiple policies with one company you may save up to 20% off your total premium.
- Auto/Life Discount – Select insurance companies reward you with better rates if you take out life insurance from them.
- New Vehicle Savings – Insuring a new car can cost up to 25% less due to better safety requirements for new cars.
Drivers should understand that most of the big mark downs will not be given the whole policy. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though it may seem like you could get a free auto insurance policy, you won’t be that lucky. But any discount will cut the cost of coverage.
Car insurance companies who might offer these money-saving discounts include:
- State Farm
- 21st Century
Before buying, ask each insurance company what discounts are available to you. Savings might not be offered in your area.
When might I need help?
When it comes to buying the best auto insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs so your insurance should reflect that For example, these questions can help discover if your situation will benefit from professional help.
- Do I pay less for low miles?
- Am I covered if I crash into my own garage door?
- Do all my vehicles need collision coverage?
- Is my teenager covered with friends in the car?
- Is my 2005 Ford Five Hundred covered for smoke damage?
- How do I file an SR-22 for a DUI in my state?
- How high should my uninsured/underinsured coverage be in my state?
If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
Auto insurance coverage information
Understanding the coverages of car insurance aids in choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the normal coverages offered by car insurance companies.
Medical expense insurance – Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like ambulance fees, surgery, pain medications, rehabilitation expenses and EMT expenses. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Collision coverages – Collision insurance covers damage to your Five Hundred from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like damaging your car on a curb, crashing into a building, backing into a parked car, scraping a guard rail and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.
Liability coverage – Liability coverage protects you from damages or injuries you inflict on a person or their property in an accident. It protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/25 which stand for $25,000 bodily injury coverage, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.
Liability can pay for things such as structural damage, repair costs for stationary objects, loss of income, emergency aid and funeral expenses. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as much as you can afford.
Comprehensive (Other than Collision) – This 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 insurance covers claims such as fire damage, hitting a deer and theft. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Ford Five Hundred.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently the UM/UIM limits are similar to your liability insurance amounts.
Knowledge is power
Cheaper 2005 Ford Five Hundred insurance can be found both online in addition to many insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who do not provide the ability to get a quote online and these small insurance companies work with independent agents.
We just covered a lot of ways to get a better price on insurance. The key thing to remember is the more rate quotes you have, the better your comparison will be. You may even find the lowest rates come from a small mutual company. They can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.
To read more, take a look at the articles below:
- Older Drivers FAQ (iihs.org)
- Should I Buy a New or Used Car? (Allstate)
- Rental Reimbursement Coverage (Allstate)
- Auto Insurance Basics (Insurance Information Insitute)
Frequently Asked Questions
What factors influence the insurance rates for a 2005 Ford Five Hundred?
Several factors can impact the insurance rates for a 2005 Ford Five Hundred. These factors include the driver’s age, driving history, location, coverage options, deductible amount, and the car’s overall condition and value.
How can I find the cheapest insurance rates for my 2005 Ford Five Hundred?
To find the most affordable insurance rates for your 2005 Ford Five Hundred, it is recommended to compare quotes from multiple insurance companies. You can do this by reaching out to insurance providers directly or by using online comparison tools. Additionally, maintaining a clean driving record and opting for higher deductibles can often help lower your premiums.
Are there any specific insurance discounts available for a 2005 Ford Five Hundred?
Insurance companies may offer various discounts that could help reduce your premiums for a 2005 Ford Five Hundred. These discounts can include safe driver discounts, multi-policy discounts (if you have multiple policies with the same insurance company), anti-theft device discounts, and low mileage discounts. It’s advisable to check with different insurers to determine which discounts they offer.
Does the location where I live affect the insurance rates for a 2005 Ford Five Hundred?
Yes, your location can impact the insurance rates for a 2005 Ford Five Hundred. Insurance companies consider factors such as crime rates, traffic congestion, and the likelihood of accidents or theft when determining premiums. Generally, living in an area with lower crime rates and fewer accidents can result in lower insurance rates.
How does the condition of my 2005 Ford Five Hundred affect insurance rates?
The condition of your vehicle typically does not have a direct impact on insurance rates. However, if your car has certain safety features or anti-theft devices installed, it may qualify for insurance discounts, which can help lower your premiums.
Can I get classic car insurance for a 2005 Ford Five Hundred?
Classic car insurance is typically designed for older, collectible, or vintage vehicles that are at least 15-20 years old. As a 2005 Ford Five Hundred is not considered a classic car, it may not be eligible for classic car insurance. However, you should check with insurance providers specializing in classic car coverage to confirm their specific requirements.
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