2002 Ford Mustang Insurance Cost – 9 Tips to Save

Looking for cheaper car insurance rates for your Ford Mustang? Nobody I know likes having to buy car insurance, especially knowing their premiums are too high.

You have so many car insurance companies to choose from, and even though it’s nice to be able to choose, it can be more difficult to get the best deal.

Insurance coverage discounts help cut rates

Insurance coverage is not inexpensive, but you may qualify for discounts to reduce the price significantly. Many discounts should be triggered at the time you complete a quote, but a few must be requested specifically prior to receiving the credit.

  • Driving Data Discount – Policyholders that allow data collection to study where and when they drive by using a small device installed in their vehicle like In-Drive from State Farm and Progressive’s Snapshot may get a rate reduction if their driving habits are good.
  • Multiple Vehicles – Buying a policy with multiple cars with the same company can get a discount for every vehicle.
  • Discount for New Cars – Insuring a new car can cost up to 25% less since new vehicles have better safety ratings.
  • Use Seat Belts – Using a seat belt and requiring all passengers to fasten their seat belts could cut 10% or more off PIP or medical payments premium.
  • No Claim Discounts – Drivers who stay claim-free are rewarded with significantly better rates on insurance coverage quote in comparison with drivers who are more careless.
  • Discount for Swiching Early – A few insurance coverage companies offer discounts for switching policies before your current expiration date. Ten percent is about the average savings.
  • Defensive Driver – Taking part in a safe driver course may get you a small discount and easily pay for the cost of the class.
  • Good Student Discount – Maintaining excellent grades could provide a savings of up to 20% or more. The good student discount can last up until you turn 25.
  • 55 and Retired – Older drivers may be able to get a small discount on rates on Mustang insurance.

Drivers should understand that most credits do not apply the the whole policy. A few only apply to the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like it’s possible to get free car insurance, you aren’t that lucky.

For a list of companies that can offer you the previously mentioned discounts, follow this link.

Which is the best car insurance?

When it comes to buying adequate coverage for your vehicles, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. These are some specific questions can aid in determining whether or not you would benefit from professional advice.

  • Am I covered when driving on a suspended license?
  • Is a blown tire covered by insurance?
  • How does medical payments coverage work?
  • Is my dog or cat covered if injured in an accident?
  • What is roadside assistance coverage?
  • Am I covered if I wreck a rental car?
  • Is business equipment covered while in my vehicle?

If you’re not sure about those questions, you might consider talking to an agent. If you don’t have a local agent, fill out this quick form or click here for a list of car insurance companies in your area.

Car insurance 101

Having a good grasp of a auto insurance policy aids in choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. These are the usual coverages available from auto insurance companies.

Liability car insurance

This will cover damage that occurs to other’s property or people. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 100/300/100 which stand for a $100,000 limit per person for injuries, $300,000 for the entire accident, and property damage coverage for $100,000. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against claims such as medical expenses, attorney fees and funeral expenses. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.

Uninsured or underinsured coverage

This gives you protection from other motorists when they do not carry enough liability coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits are identical to your policy’s liability coverage.

Coverage for collisions

Collision insurance pays for damage to your Mustang resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as hitting a mailbox, hitting a parking meter, scraping a guard rail and rolling your car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Medical expense coverage

Med pay and PIP coverage reimburse you for bills for rehabilitation expenses, ambulance fees, surgery and funeral costs. The coverages can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers both the driver and occupants and will also cover being hit by a car walking across the street. PIP is only offered in select states and gives slightly broader coverage than med pay

Comprehensive protection

Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as a broken windshield, a tree branch falling on your vehicle, damage from flooding, theft and falling objects. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Affordable insurance is out there

Throughout this article, we presented many ways to compare 2002 Ford Mustang insurance premium rates online. The key thing to remember is the more you quote insurance coverage, the better your comparison will be. You may even discover the best price on auto insurance is with some of the lesser-known companies. These companies often have lower prices on specific markets compared to the large companies like Allstate or State Farm.

Some companies do not provide online price quotes and usually these smaller providers work with independent insurance agencies. Affordable 2002 Ford Mustang insurance is available both online and from local agencies, so compare prices from both to have the best selection.

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