Cheaper 2007 Ford Mustang Insurance Quotes

Being forced to pay for overpriced insurance coverage premiums can bottom out your savings account and force you to make tough financial choices.

Many insurers vie for your insurance dollar, so it’s not easy to compare every insurer to find the absolute lowest rate possible.

Consumers should take time to compare rates at least once a year because insurance rates change frequently. Even if you think you had the lowest rate for Mustang coverage six months ago you may be paying too much now. There are lots of tips to save on insurance coverage out there, but in a few minutes you can learn a bunch of ideas how to put money back in your pocket.

Insurance prices are influenced by these factors

Smart consumers have a good feel for a few of the rating criteria that help determine insurance coverage rates. When consumers understand what determines premiums, this enables you to make decisions that could result in better insurance coverage rates. Lots of things are used when you quote your car insurance policy. A few of the factors are predictable like a motor vehicle report, but other factors are less obvious such as your marital status or your vehicle rating.

  • Do you qualify for a multi-policy discount? – Many companies afford a discount to clients who buy several policies from them such as combining an auto and homeowners policy. If you currently are using one company, it’s in your best interest to get quotes from other companies to guarantee you are still saving the most. You may still be able to find lower rates by splitting coverages up.
  • Cheaper insurance coverage rates for prior coverage – Allowing your insurance coverage policy to lapse is a guaranteed way to increase your renewal premiums. Not only will you pay more, not being able to provide proof of insurance may earn you a hefty fine and possibly a revoked license. You will then be forced to prove you have insurance by filing a SR-22 with your state DMV.
  • Theft deterrents lowers prices – Owning a car with a theft deterrent system can help lower your premiums. Anti-theft devices like OnStar, LoJack tracking, and tamper alarms can thwart car theft.
  • Gals tend to take less risk – Statistics show women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. They both get in fender benders in similar percentages, but the males tend to have more serious accidents. In addition to higher claims, males also get cited for more serious violations like reckless driving and DUI. Male teenagers are several times more likely to be in an accident and thus pay the highest rates.
  • Liability – The liability section of your policy is the protection if a court rules you are at fault for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense to attempt to prove you were not liable. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.
  • Drivers with excellent credit save on insurance coverage – Your credit rating will be a significant factor in determining what you pay. Insureds that have very high credit ratings tend to file fewer claims as compared to drivers with lower credit scores. If your credit can be improved, you could pay less to insure your 2007 Ford Mustang if you improve your credit rating.
  • Getting married reduces risk – Walking down the aisle may cut your premiums on insurance coverage. Having a spouse translates into being more stable financially and statistics show married drivers tend to file fewer claims.

The easiest way to compare rates takes advantage of the fact most of the bigger providers allow for online access to provide you with free rate quotes. To start a quote, the only thing you need to do is provide information including whether you are single or married, any included safety features, your occupation, and whether your vehicle is owned or leased. That information is automatically sent to many of the top insurers and they respond with quotes almost instantly.

Does insurance advertising bend the truth?

Insurance companies such as State Farm and Allstate regularly use ads on TV and radio. They all make an identical promise that you’ll save big if you get a free auto insurance quote and switch your coverage to them. How is it possible that every company can give you a better price? This is the trick they use.

Many companies can use profiling for the type of insured that makes them money. One example of a driver they prefer could possibly be a married male, owns their home, and drives a safe vehicle. A customer that fits those parameters gets the lowest rates and have a good chance to save quite a bit of money when switching.

Potential customers who do not match these standards will see higher premium rates and ends up with the customer not purchasing. If you listen to the ad wording, they say “people who switch” not “all people who quote” save money. That’s the way insurance companies can confidently advertise the way they do.

Because each company has a different risk profile, you really need to compare many company’s rates. It is impossible to predict which insurance company will have the best prices for your profile.

Save a ton with these car insurance discounts

Some companies do not list every discount very clearly, so the below list has a few of the more well known and also the lesser-known credits that may apply to you. If you are not receiving all the discounts possible, you are just wasting money.

  • Air Bags and Passive Restraints – Factory options such as air bags or automatic seat belts can get savings of 25 to 30%.
  • Payment Discounts – If you pay your bill all at once rather than spreading payments over time you can avoid the installment charge.
  • Theft Prevention System – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
  • Clubs and Organizations – Belonging to qualifying employment or professional organizations may earn a discount on your next car insurance statement.
  • Data Collection Discounts – Drivers that enable driving data collection to scrutinize driving patterns by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive may get a rate reduction as long as they are good drivers.
  • Discounts for Multiple Vehicles – Purchasing coverage when you have several vehicles on one policy could earn a price break for each car.
  • Distant College Student Discount – Youth drivers who are enrolled in a college that is more than 100 miles from home and leave their car at home can receive lower rates.
  • Waiver for an Accident – but a few companies such as Allstate and GEICO will forgive one accident before your rates go up so long as you are claim-free prior to being involved in the accident.

You should keep in mind that most of the big mark downs will not be given the the whole policy. Some only reduce the price of certain insurance coverages like liability and collision coverage. Despite the fact that it seems like it’s possible to get free car insurance, that’s just not realistic.

Some of the larger companies that may offer most of these discounts include:

If you need lower rates, check with each company to apply every possible discount. Some credits might not be offered in every state.

Insurance coverage can get complicated

When it comes to buying coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Every situation is different so your insurance needs to address that. For example, these questions could help you determine if your situation might need professional guidance.

  • Does my 2007 Ford Mustang qualify for pleasure use?
  • Does my insurance cover a custom paint job?
  • Do I really need UM/UIM coverage?
  • Which companies will insure high-risk drivers?
  • Who is covered by my policy?
  • Is rental equipment covered for theft or damage?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier

Auto insurance coverages

Understanding the coverages of your car insurance policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverage types found on the average car insurance policy.

Liability car insurance

This can cover injuries or damage you cause to other’s property or people that is your fault. This coverage protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Another option is one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as pain and suffering, funeral expenses, legal defense fees and medical services. How much coverage you buy is a decision to put some thought into, but buy as large an amount as possible.

Comprehensive (Other than Collision)

Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like rock chips in glass, vandalism and hitting a deer. The highest amount a car insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical expense insurance

Coverage for medical payments and/or PIP provide coverage for expenses such as EMT expenses, dental work and hospital visits. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. It covers both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Protection from uninsured/underinsured drivers

This provides protection when other motorists are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your Ford Mustang.

Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Normally these limits do not exceed the liability coverage limits.

Collision protection

This coverage covers damage to your Mustang resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers things like hitting a mailbox, sustaining damage from a pot hole, colliding with another moving vehicle, scraping a guard rail and hitting a parking meter. Collision coverage makes up a good portion of your premium, 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.

Do the work, save more money

Some insurance providers do not offer rate quotes online and many times these regional carriers prefer to sell through independent agents. Budget-friendly insurance coverage is possible online and with local insurance agents, and you should compare rates from both to have the best selection.

In this article, we covered a lot of ways to save on 2007 Ford Mustang insurance. The key thing to remember is the more rate comparisons you have, the better your chances of lowering your rates. Consumers could even find that the best price on insurance coverage is with a small local company. Smaller companies often have lower rates on specific markets as compared to the big name companies such as State Farm and Allstate.

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