1992 Ford Mustang Insurance Rates – 5 Savings Tips

Trying to find cheaper car insurance rates for your Ford Mustang? There isn’t anyone who likes paying for car insurance, especially when they are paying too much.

Many insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer to find the absolute best price available.

It is always a good idea to shop coverage around as often as possible because insurance prices fluctuate regularly. Even if you got the lowest rate for Mustang coverage at your last renewal a different company probably has better premium rates today. Forget all the misinformation about car insurance because you’re about to find out the best methods to get good coverage at a lower rate.

Lower rate quotes with these five discounts

Car insurance companies do not list every available discount in a way that’s easy to find, so the list below details some of the more common and the more hidden discounts that may be available.

  • Defensive Driver Discounts – Participating in a driver safety course is a good idea and can lower rates and easily pay for the cost of the class.
  • Military Discounts – Being deployed in the military can result in better insurance coverage rates.
  • Discount for Passive Restraints – Vehicles with factory air bags or automatic seat belts can get savings of more than 20%.
  • Sign Online – A few insurance coverage companies give back up to $50 for buying your policy digitally online.
  • ABS and Traction Control Discounts – Cars and trucks with ABS braking systems or traction control are safer to drive and earn discounts up to 10%.

Just know that many deductions do not apply to the entire cost. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky.

A list of companies and a selection of discounts are shown below.

  • State Farm offers discounts for safe vehicle, driver’s education, defensive driving training, Steer Clear safe driver discount, multiple autos, and student away at school.
  • GEICO has discounts for federal employee, multi-vehicle, seat belt use, air bags, daytime running lights, and multi-policy.
  • Progressive discounts include multi-policy, homeowner, online quote discount, continuous coverage, multi-vehicle, good student, and online signing.
  • 21st Century policyholders can earn discounts including 55 and older, anti-lock brakes, early bird, teen driver, and air bags.
  • American Family includes discounts for accident-free, TimeAway discount, early bird, bundled insurance, and good student.
  • The Hartford has savings for defensive driver, air bag, vehicle fuel type, bundle, and driver training.
  • AAA may have discounts that include pay-in-full, anti-theft, multi-car, good student, and multi-policy.

If you need lower rates, check with each insurance company which discounts they offer. Some of the discounts discussed earlier may not be available in your area.

What is the best car insurance coverage?

When buying adequate coverage, there is no single plan that fits everyone. Coverage needs to be tailored to your specific needs and your policy should reflect that. Here are some questions about coverages that may help you determine if your situation would benefit from an agent’s advice.

  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Am I covered if I hit my neighbor’s mailbox?
  • Do I have coverage if my license is suspended?
  • How high should my medical payments coverage be?
  • When can I cancel my policy?
  • Can my babysitter drive my car?
  • Do I need an umbrella policy?
  • Am I covered when delivering products for my home-based business?
  • Will I be non-renewed for getting a DUI or other conviction?

If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Parts of your car insurance policy

Understanding the coverages of a car insurance policy helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most car insurance policies.

Uninsured/Underinsured Motorist coverage

This gives you protection from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time these coverages are identical to your policy’s liability coverage.

Collision protection

Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims such as damaging your car on a curb, hitting a parking meter, sideswiping another vehicle, colliding with another moving vehicle and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Liability auto insurance

Liability coverage can cover damages or injuries you inflict on a person or their property that is your fault. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims like loss of income, court costs, attorney fees and emergency aid. How much liability should you purchase? That is your choice, but consider buying as much as you can afford.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP provide coverage for bills for things like nursing services, doctor visits and pain medications. They are often used to fill the gap from your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like rock chips in glass, theft, hitting a deer, hitting a bird and falling objects. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Save your cold hard cash

As you go through the steps to switch your coverage, it’s very important that you do not skimp on coverage in order to save money. In many cases, drivers have reduced uninsured motorist or liability limits only to discover later that a couple dollars of savings turned into a financial nightmare. The aim is to purchase a proper amount of coverage for the lowest cost, but don’t skip important coverages to save money.

We just showed you some good ideas how to lower your 1992 Ford Mustang insurance rates. It’s most important to understand that the more rate quotes you have, the higher the chance of saving money. Drivers may discover the best price on insurance is with an unexpected company. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as Progressive or GEICO.

Some insurance providers may not have online rate quotes regional carriers sell through independent insurance agencies. Discount 1992 Ford Mustang insurance can be sourced online as well as from independent agents, so you need to compare both to have the best rate selection.

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