Cheaper 2012 Ford Mustang Insurance Rates

Looking for cheaper auto insurance rates for your Ford Mustang? I can’t think of a single person who gets a kick out of paying for auto insurance, especially when it costs too dang much.

There are many insurers to insure vehicles with, and though it is a good thing to have multiple companies, so many choices can make it hard to adequately compare rates.

Discounts to earn affordable auto insurance rates

Some companies don’t always list all their discounts in an easy-to-find place, so the list below details a few of the more common and also the lesser-known discounts that you may qualify for. If they aren’t giving you every credit you qualify for, you are not getting the best rate possible.

  • Active Military Service – Being on active duty in the military could mean lower auto insurance rates.
  • Defensive Driver – Taking part in a driver safety class could earn you a small percentage discount depending on where you live.
  • Distant College Student Discount – Youth drivers who are enrolled in higher education away from home and don’t have a car can receive lower rates.
  • Full Payment Discount – If you pay your bill all at once as opposed to paying monthly you can actually save on your bill.
  • ABS and Traction Control Discounts – Cars and trucks that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.

While discounts sound great, it’s important to understand that most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears you could get a free auto insurance policy, auto insurance companies aren’t that generous. But any discount will help lower your premiums.

Auto insurance companies that may offer policyholders some of the above discounts include:

Double check with every company which discounts you qualify for. Some credits might not apply in your area.

How to compare auto insurance rate quotes

To find the best auto insurance rates, there are several ways of comparing price quotes from local auto insurance companies. The quickest method to do a complete rate comparison is to use the internet to compare rates. This can be done in several different ways.

  1. Probably the best way to compare a lot of rates at once would be an industry-wide quote request form like this one (opens in new window). This type of form eliminates the need for multiple quote forms for each company you want a rate for. One form submission compares rates from several companies.
  2. A slightly less efficient method to analyze rates is to manually visit the website for each individual company to complete their respective quote request forms. For example, let’s assume you want rates from USAA, Progressive and GEICO. In order to get each rate, you would have to go to each individual 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.

  3. The last method to price shop rates is driving to all the different insurance agencies. Shopping for auto insurance online eliminates the middleman unless you have a need for the guidance only provided by licensed agents. However, consumers can obtain prices from the web but buy from a local insurance agent.

Whichever method you choose, be certain you are entering apples-to-apples quote data on every quote you get. If the quotes have different liability limits you will not be able to determine which company has the best rates. Just a small difference in coverages may result in a large different in cost. And when comparing auto insurance rates, know that getting more free quotes helps improve the odds of finding more affordable insurance.

Tailor your insurance coverage to you

When buying the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For example, these questions might point out whether you might need an agent’s assistance.

  • Is business equipment covered while in my vehicle?
  • Does coverage extend to my business vehicle?
  • Do I need replacement cost coverage on my 2012 Ford Mustang?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Does insurance cover tools stolen from my truck?
  • Am I covered if I hit a deer?
  • Does coverage extend to Mexico or Canada?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies.

Educate yourself about insurance coverages

Learning about specific coverages of a insurance policy aids in choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and coverage can change by endorsement. Shown next are typical coverage types found on the average insurance policy.

Uninsured and underinsured coverage – This protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for injuries to you and your family as well as damage to your 2012 Ford Mustang.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.

Coverage for medical payments – Med pay and PIP coverage pay for expenses for things like surgery, pain medications and X-ray expenses. They are often used in conjunction with a health insurance plan or if you do not have health coverage. They cover you and your occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Liability insurance – This will cover damages or injuries you inflict on other people or property in an accident. It protects YOU from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims such as funeral expenses, loss of income, medical expenses and legal defense fees. How much coverage you buy is a personal decision, but you should buy as large an amount as possible.

Collision – This coverage will pay to fix damage to your Mustang resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as scraping a guard rail, driving through your garage door and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also raise the deductible to bring the cost down.

Comprehensive coverages – This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as rock chips in glass, theft and hitting a bird. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Save for a rainy day

Budget-friendly insurance coverage can be purchased both online as well as from insurance agents, and you should be comparing both in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and these smaller companies work with independent insurance agents.

We covered some good ideas how you can lower your 2012 Ford Mustang insurance prices. The key thing to remember is the more companies you get rates for, the higher your chance of finding affordable insurance coverage. Consumers may even find the lowest prices are with a small mutual company. Regional companies may cover specific market segments cheaper as compared to the big name companies such as Allstate or State Farm.

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