Lower Your 1998 Ford Five Hundred Insurance Cost

Want cheaper insurance coverage rates? Drivers have a choice when trying to find low-cost Ford Five Hundred insurance. You can either waste hours calling around trying to get quotes or use the internet to make rate comparisons.

There is a better way to find insurance coverage online and you need to know the proper way to quote coverages for a new or used Ford and find the cheapest rates from local insurance agents and online providers.

You should take the time to get comparison quotes on a regular basis because prices change quite often. Just because you had the best rate on Five Hundred insurance six months ago you may be paying too much now. Forget anything you know (or think you know) about insurance coverage because I’m going to let you in on the secrets to how to quote online to buy cheaper insurance coverage.

Cheapest insurance quotes

Lowering your 1998 Ford Five Hundred insurance rates is pretty simple and can save money. All you need to do is take the time to compare rate quotes to discover which company has inexpensive insurance coverage quotes. Comparing prices online can be done using one of these methods.

  • The first (and easiest) way consumers can analyze rates is an all-inclusive rate comparison click to view form in new window. This style of form prevents you from having to do separate forms to each individual insurance company. Just one form compares rates from multiple companies. This is by far the quickest method.
  • A more time consuming way to analyze rates is going to each individual company website to complete their respective quote request forms. For example, we’ll pretend you want to compare rates from Farmers, Esurance and State Farm. To find out each rate you need to take the time to go to each site and enter your information, which is why most consumers use the first method. For a list of links to companies insuring cars in your area, click here.
  • The least efficient and most time consuming way to get rate quotes is going to different agent offices. Comparing rate quotes online makes this process obsolete unless you’re the type of person who wants the advice and guidance that only an agent can give. Some companies do allow you to get the lowest quotes online but still have the advice of a local agent.

Whichever way you choose to compare rates, make sure you use identical quote information with every price quote. If your comparisons have different limits and deductibles on each one you can’t possibly determine which company has the best rates.

Car insurance rates and discounts

Car insurance companies don’t necessarily list every disount available in an easy-to-find place, so we break down some of the best known and also the lesser-known credits that may apply to you.

  • Paperwork-free – Some of the larger companies may give you up to $50 for signing up on the internet.
  • Seat Belt Discounts – Drivers who require all vehicle occupants to use their safety belts can save up to 10 percent (depending on the company) off PIP or medical payments premium.
  • Drivers Ed for Students – It’s a good idea to have your young drivers complete a driver education course if offered at their school.
  • Membership in Organizations – Being a member of qualifying clubs or civic groups may earn a discount when shopping for car insurance.
  • Accident Forgiveness Coverage – but a few companies such as State Farm and GEICO may permit one accident before hitting you with a surcharge if you have no claims prior to being involved in the accident.
  • Homeowners Savings – Owning a home may earn you a small savings because it requires personal responsibility.
  • Multi-Vehicle Discounts – Having primary and secondary vehicles on one policy can get a discount for every vehicle.

Policy discounts save money, but most credits do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears all those discounts means the company will pay you, company stockholders wouldn’t be very happy.

Popular car insurance companies and some of the discounts are detailed below.

  • GEICO offers premium reductions for multi-policy, driver training, daytime running lights, federal employee, multi-vehicle, and anti-lock brakes.
  • Mercury Insurance has savings for location of vehicle, type of vehicle, professional/association, good driver, multi-car, accident-free, and annual mileage.
  • Farmers Insurance offers discounts including business and professional, pay in full, homeowner, youthful driver, and mature driver.
  • Auto-Owners Insurance may have discounts that include multiple vehicles, multi-policy, student away at school, teen driver, safe driver, and safe vehicle.
  • Liberty Mutual may offer discounts for preferred payment discount, exclusive group savings, multi-policy, new vehicle discount, new move discount, and new graduate.
  • SAFECO policyholders can earn discounts including multi-car, teen safety rewards, accident prevention training, drive less, anti-lock brakes, and bundle discounts.
  • Progressive has discounts for multi-policy, online signing, online quote discount, homeowner, continuous coverage, multi-vehicle, and good student.
  • USAA includes discounts for annual mileage, loyalty savings, defensive driver, military installation, and safe driver.

Before purchasing a policy, check with every prospective company which discounts can lower your rates. Some discounts listed above may not be available in your state. To see insurance companies that offer some of these discounts, click here to view.

Situations that may require an agent’s advice

When choosing the best car insurance coverage, there really is not a cookie cutter policy. Every insured’s situation is different.

Here are some questions about coverages that might help in determining whether or not you might need professional guidance.

  • Do I have any recourse if my insurance company denies a claim?
  • Are there companies who specialize in insuring high-risk drivers?
  • Can my teen drive my company car?
  • Do I need more liability coverage?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need special endorsements for business use of my vehicle?
  • When does my teenage driver need to be added to my policy?
  • Will my rates increase for filing one claim?
  • What happens if I owe more than my 1998 Ford Five Hundred is worth?
  • Does my personal policy cover me when driving out-of-state?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form. It is quick, free and can provide invaluable advice.

Parts of your insurance policy

Knowing the specifics of insurance can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Comprehensive insurance

This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as damage from getting keyed, hitting a deer, hail damage and rock chips in glass. The maximum payout you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Coverage for liability

This coverage protects you from damage that occurs to other people or property in an accident. It protects YOU against claims from other people, and does not provide coverage for 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. Your policy might show policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and property damage coverage for $50,000. Another option is one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability can pay for claims such as court costs, bail bonds and legal defense fees. The amount of liability coverage you purchase is your choice, but consider buying as much as you can afford.

Collision coverage protection

This coverage pays for damage to your Five Hundred resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims like crashing into a building, driving through your garage door, hitting a mailbox and colliding with a tree. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other drivers when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants 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. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses such as chiropractic care, surgery, nursing services and funeral costs. They can be used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Save for a rainy day

Insureds switch companies for many reasons like policy cancellation, lack of trust in their agent, being labeled a high risk driver or policy non-renewal. No matter why you want to switch, finding a great new company can be less work than you think.

While you’re price shopping online, don’t be tempted to buy less coverage just to save a little money. There are many occasions where someone sacrificed liability coverage limits only to regret at claim time that the savings was not a smart move. Your goal is to buy a smart amount of coverage for the lowest price but still have enough coverage for asset protection.

Some insurance companies do not provide internet price quotes and these regional carriers provide coverage only through independent agencies. The cheapest 1998 Ford Five Hundred insurance is definitely available both online as well as from independent agents, and you should compare price quotes from both to have the best selection.

Additional insurance information is available at the links below