1998 Ford Mustang Insurance Cost

Searching for the lowest cost car insurance is somewhat difficult for drivers who are new to shopping for insurance on the internet. With such a large number of agents and insurance companies available, how can anyone effectively compare every car insurance company to find better prices?

It’s smart to compare prices on a regular basis since prices are constantly changing. Just because you had the lowest price on Mustang insurance a year ago you can probably find a lower rate today. You can find a lot of wrong information about car insurance online, but we’re going to give you the best ways to lower your car insurance premiums.

If you have car insurance now, you will most likely be able to cut costs considerably using these techniques. Finding affordable coverage can be fairly easy. Although car owners can benefit from knowing the way insurance companies sell insurance online and apply this information to your search.

How to find the cheapest auto insurance

There are several ways to get quotes from local auto insurance companies. The easiest way by far to find affordable 1998 Ford Mustang insurance rates consists of shopping online. This is very easy and can be done in several different ways.

  • Experts agree that the best way to find low rates is an all-inclusive rate comparison click here to open form in new window. This quick form prevents you from having to do repetitive form entry for every company. One simple form will get you price quotes instantly. It’s the fastest way to compare.
  • A different way to get comparison quotes consists of visiting the website for each individual company and get a separate price quote. For example, we’ll assume you want rates from Nationwide, Progressive and Travelers. To do that, you would have to spend time going to each site individually and enter your policy data, which can get old fast. For a list of links to insurance companies in your area, click here.
  • If you have time to kill, the last way to get rate quotes is to drive around to local insurance agencies. Comparing rates online can eliminate the need for a local agent unless your situation requires the professional advice of a licensed agent. Although you can price shop your coverage online but buy from a local insurance agent.

It’s up to you which method you use, but ensure you are comparing apples-to-apples coverage limits and deductibles for each quote you get. If you enter different coverage information it’s impossible to truly determine the lowest rate. Quoting even small variations in insurance coverages or limits may cause a big price difference. It’s important to know that obtaining a wide range of quotes will enable you to find lower pricing. Some regional insurers cannot provide quotes online, so you should also compare prices on coverage from those companies, too.

Car insurance quotes and discounts

Car insurance is not cheap nor is it fun to buy but there are discounts available that many people don’t even know exist. Some discounts will apply at the time of purchase, but some may not be applied and must be asked for prior to getting the savings.

  • Discounts for Multiple Vehicles – Buying a policy with multiple cars or trucks with the same company can reduce rates for all insured vehicles.
  • Senior Citizen Rates – Mature drivers are able to get lower premium rates on Mustang insurance.
  • Discount for Good Grades – Performing well in school may save as much as 25% on a insurance quote. This discount can apply well after school through age 25.
  • Homeowners Savings – Simply owning a home can save you money because maintaining a house is proof of financial responsibility.
  • Military Deployment Discount – Being deployed in the military can result in better rates.
  • Clubs and Organizations – Being in specific professional or occupational memberships or organizations is a good way to get lower rates on your next renewal.
  • Driver’s Education for Students – Require your teen driver to complete a driver education course if offered at their school.
  • Driver Safety – Taking time to complete a defensive driving course may get you a small discount and easily recoup the cost of the course.

You should keep in mind that most credits do not apply the the whole policy. Some only apply to specific coverage prices like liability, collision or medical payments. Just because it seems like you could get a free car insurance policy, nobody gets a free ride. But any discount will reduce the premium cost.

A partial list of companies that possibly offer some of the discounts shown above include:

Double check with each company how many discounts you can get. Discounts might not be available to policyholders in every state. If you would like to see a list of providers that have a full spectrum of discounts, follow this link.

Situations that may require an agent’s advice

When buying the right insurance coverage for your personal vehicles, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For example, these questions might help in determining whether your personal situation might need professional guidance.

  • What happens if I owe more than my 1998 Ford Mustang is worth?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Does my insurance cover a custom paint job?
  • Why is insurance for a teen driver so high?
  • I have good health insurance, so how much medical payments coverage do I need?
  • How many claims can I have before being cancelled?
  • How high should my uninsured/underinsured coverage be in my state?
  • Do I have coverage if my license is suspended?
  • Is my state a no-fault state?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an agent. If you don’t have a local agent, simply complete this short form.

Smart consumers save more

Smart consumers have a good feel for the factors that aid in calculating the rates you pay for insurance coverage. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that can help you get lower insurance coverage prices. Multiple criteria are considered when pricing auto insurance. Some factors are common sense like your driving record, although others are not quite as obvious such as your credit history or your financial responsibility.

  • Bump up comp and collision deductibles to lower rates – Your deductibles are the amount of money the insured will be required to pay if a covered claim is submitted. Physical damage coverage, also called comprehensive and collision insurance, insures against damage to your car. Some coverage claims are a windshield broken by a bird, vandalism, and having a roll-over accident. The more damage repair cost the insured is willing to pay, the lower your rates will be on Mustang insurance.
  • Discounts for multiple policies – Most larger companies afford discounts to buyers that buy multiple policies such as combining an auto and homeowners policy. Discounts can amount to as much as ten percent or more Even if you already get this discount, drivers will still want to shop around to guarantee you are still saving the most.There is a good possibility that you can find lower rates by buying insurance from more than one company.
  • Does your occupation raise your insurance coverage rates? – Did you know that where you work can have an impact on rates? Jobs such as judgesairline pilots and accountants tend to have higher premium rates in part from stressful work requirements and lengthy work days. On the flip side, occupations like actors, athletes and performers pay lower than average rates on Mustang insurance.
  • Extra policy coverages that aren’t used – Policies have add-on coverages that can waste your money on your Mustang policy. Things like personal injury protection, better glass coverage, and membership fees could be just wasting money. You may think they are a good idea initially, but if you don’t need them consider taking them off your policy.
  • Your location is important – Living in less populated areas has it’s advantages when trying to find low car insurance rates. Less people living in that area corresponds to lower accident rates and a lower car theft rate. Urban drivers regularly have congested traffic and longer commutes to work. More time on the road means more chance of being in an accident.
  • Safer vehicles cost less to insure – Cars with five star safety ratings cost less to insure. The safest vehicles reduce occupant injuries and lower rates of occupant injuries means your insurance company pays less and more competitive rates for policyholders. If your Ford Mustang scored at minimum four stars on Safercar.gov you may pay a lower rate.
  • Teenage drivers pay high rates – Beginning drivers are statistically shown to be less responsible behind the wheel so they pay higher insurance coverage rates. Older, more experienced drivers are more cautious drivers, file fewer claims and tend to be get fewer driving tickets.

But the ad said I’d save 15% in 15 minutes!

Insurance coverage providers like State Farm and Allstate endlessly run television and radio advertisements. They all convey the message that you can save just by moving your coverage to them. How does every insurance coverage company offer drivers better rates? This is the way they can do it.

All companies have a preferred profile for the type of customer that makes them money. One example of a desirable risk may need to be a married male, has never had a claim, and drives a safe vehicle. A driver that fits those parameters receive the lowest rate quotes and therefore will cut their rates substantially.

People who don’t meet this stringent profile may be forced to pay higher premium rates and ends up with the customer not purchasing. If you pay close attention to the ads, they say “customers that switch” but not “everyone who gets a quote” save that much when switching. This is how companies can make those statements.

This really illustrates why drivers must compare free insurance quotes often. It’s just too difficult to predict which insurance companies will give you the biggest savings.

Auto insurance 101

Having a good grasp of your policy helps when choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for expenses like funeral costs, dental work and prosthetic devices. They are used to fill the gap from your health insurance policy or if you do not have health 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 coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Liability car insurance

This coverage protects you from injuries or damage you cause to other’s property or people by causing an accident. It protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 50/100/50 that means you have a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.

Liability insurance covers claims like repair costs for stationary objects, legal defense fees, bail bonds, loss of income and court costs. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and damage to your Ford Mustang.

Due to the fact that 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 should not be overlooked. Usually these coverages are identical to your policy’s liability coverage.

Collision protection

Collision insurance pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as damaging your car on a curb, hitting a parking meter and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Comprehensive insurance

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like hitting a deer, damage from getting keyed and theft. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

The bottom line

As you go through the steps to switch your coverage, do not skimp on coverage in order to save money. There are a lot of situations where consumers will sacrifice collision coverage only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase a proper amount of coverage for the lowest cost, but do not sacrifice coverage to save money.

Drivers change insurance companies for many reasons like not issuing a premium refund, delays in paying claims, extreme rates for teen drivers or even high rates after DUI convictions. It doesn’t matter why you want to switch choosing a new insurance company is not as difficult as it may seem.

Lower-priced 1998 Ford Mustang insurance is available online in addition to many insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. Some insurance providers may not offer internet price quotes and many times these smaller companies work with independent agents.

Even more information is available by following these links: