Lower Your 2018 Ford Mustang Insurance Rates

Comparing and finding low cost premium rates for Driverscar insurance may be challenging for people who have little experience online insurance quotes. You have so many agents and companies to choose from that it can be a real difficult job to compare prices.

If you have car insurance now, you will most likely be able to cut costs considerably using these tips. Buying affordable coverage is not that difficult. Although drivers should learn the way companies price insurance differently and take advantage of how the system works.

Where can I get affordable insurance coverage?

To find more affordable prices, there are a couple of ways to get quotes from companies that offer insurance coverage in your state. The simplest method to lower the rate you pay for 2018 Ford Mustang insurance is to perform an online rate comparison. It’s really quite simple and can be done in several different ways.

The recommended way to find low rates is an all-inclusive rate comparison click here to open form in new window. This style of form keeps you from doing boring form submissions to each individual insurance coverage company. Taking the time to complete one form will return quotes from multiple companies. Recommended for those who want to invest the least amount of time.

A more difficult way to compare prices is to manually visit each company website and repeat the quote process again and again. For sake of this example, we’ll assume you want comparison quotes from Auto-Owners, Esurance and State Farm. To find out each rate you need to navigate to each company’s site and punch in your information repeatedly, which can be really labor intensive. For a list of links to companies insuring cars in your area, click here.

Even if you have time, the least recommended method to find and compare rates is to spend your day driving to insurance agencies in your area. The ability to get quotes online can eliminate the need for a local agent unless you require the trained advice that only a licensed agent can provide. Although, it is possible get prices online and still use a local agent.

How you compare quotes is your choice, just make sure you are using equivalent coverage information for every company. If you are comparing differing limits it will be very difficult to find the best deal for your Ford Mustang. Slightly different insurance coverages or limits could throw off the whole comparison. It’s important to know that comparing a large number of companies helps you find more affordable rates. Not every company does online rate quotes, so it’s important to also get price quotes on coverage from those companies, too.

Drivers save money with these discounts

Insurance can be pricey, but you may find discounts that you may not even be aware of. Many of these discounts will be applied automatically when you quote, but a few must be asked for prior to receiving the credit.

  • Student Discounts – Performing well in school can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up until you turn 25.
  • Seat Belt Discounts – Forcing all vehicle occupants to wear their seat belts may be able to save a few bucks on medical payment and PIP coverage.
  • Federal Employees – Being employed by or retired from a federal job may qualify for a discount when you quote insurance on Mustang coverage with some insurance companies.
  • Clubs and Organizations – Belonging to a qualifying organization could qualify you for a break on insurance.
  • Active Service Discounts – Having a deployed family member may lower your prices slightly.
  • Theft Deterent Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and qualify for as much as a 10% discount.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Ford may enable drivers to earn discounted prices on garaged vehicles.

Discounts reduce rates, but you should keep in mind that most credits do not apply to the overall cost of the policy. Some only apply to individual premiums such as physical damage coverage or medical payments. So when it seems like you could get a free insurance policy, companies wouldn’t make money that way. But all discounts will reduce your overall premium however.

A list of companies and some of the discounts are:

  • Progressive may include discounts for multi-vehicle, multi-policy, online signing, continuous coverage, homeowner, good student, and online quote discount.
  • The Hartford offers premium reductions for driver training, air bag, vehicle fuel type, defensive driver, anti-theft, good student, and bundle.
  • Mercury Insurance offers discounts including multi-policy, anti-theft, type of vehicle, accident-free, and annual mileage.
  • GEICO offers discounts for emergency military deployment, anti-theft, military active duty, defensive driver, driver training, and good student.
  • AAA has savings for pay-in-full, multi-policy, good student, AAA membership discount, and good driver.
  • State Farm includes discounts for driver’s education, Steer Clear safe driver discount, defensive driving training, multiple policy, good driver, accident-free, and anti-theft.

Before purchasing a policy, check with all companies you are considering what discounts are available to you. Some discounts listed above may not apply in your area. To see companies that offer discounts, follow this link.

Special considerations

When it comes to buying adequate coverage, there is no “best” method to buy coverage. Every insured’s situation is different.

Here are some questions about coverages that might point out whether your personal situation would benefit from professional advice.

  • I have health insurance so do I need medical payments coverage?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered if I break a side mirror?
  • Is my cargo covered for damage or theft?
  • When should I drop full coverage on my 2018 Ford Mustang?
  • What is high-risk coverage and where do I buy it?
  • Is motorclub coverage worth it?

If it’s difficult to answer those questions, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form.

How car insurance companies determine Ford Mustang insurance costs

The best way to find cheaper insurance is to take a look at some of the elements that go into determining your premiums. If you know what determines base rates, this helps enable you to make changes that can earn you cheaper rates. Many factors are used in the calculation when premium rates are determined. Some are pretty understandable like a motor vehicle report, but some are not quite as obvious such as your credit history or how safe your car is.

The itemized list below are most of the major factors used by insurance companies to determine your prices.

  • Insurance rates and driver gender – Over time, data shows that females tend to be a little less risky than males. Now that doesn’t mean females are better at driving than males. Women and men cause fender benders in similar numbers, but the men cause more damage. Not only that, but men also have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Teenage male drivers tend to get in the most accidents and thus pay the highest rates.
  • Lower premiums with alarms and GPS tracking – Choosing to buy a car with a theft deterrent system can save you some money. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft and help bring rates down.
  • Where you live – Living in areas with lower population can be a good thing when trying to find low car insurance rates. Urban drivers have more road rage incidents and more time behind the wheel. Fewer drivers on the road translates into fewer accident claims in addition to fewer liability claims.
  • Save annual miles and save money – The more you drive in a year the higher your rates will be. A lot of insurance companies apply a rate determined by how the vehicle is used. Vehicles that have low annual miles can be on a lower rate level than vehicles that are driven to work every day. Verify your vehicle rating is rated on the correct usage. An incorrectly rated Mustang is throwing money out the window.
  • Job can influence insurance rates – Did you know your insurance rates can be affected by your occupation? Occupations like doctors, business owners and accountants have the highest rates because of job stress and incredibly demanding work hours. On the flip side, occupations like professors, historians and retirees receive lower rates on Mustang coverage.
  • Do you really need the add-on coverages? – Insurance policies have a lot of additional coverages that may not really be needed if you aren’t diligent. Coverage for things like replacement cost coverage, high-cost glass coverage, and extra equipment coverage are examples of these. They may sound like good ideas when talking to your agent, but your needs may have changed so remove them from your policy.

Insurance coverages and their meanings

Learning about specific coverages of your policy can be of help when determining the best coverages and proper limits and deductibles. Policy terminology can be confusing and coverage can change by endorsement.

Coverage for medical payments

Med pay and PIP coverage kick in for short-term medical expenses for X-ray expenses, EMT expenses, prosthetic devices and chiropractic care. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and also covers 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

Collision coverage protection

Collision coverage pays for damage to your Mustang from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things such as damaging your car on a curb, driving through your garage door, hitting a mailbox and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to raise the deductible to save money on collision insurance.

Auto liability insurance

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

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 which stand for $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Another option is a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against things like loss of income, bail bonds and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but consider buying as high a limit as you can afford.

Uninsured and underinsured coverage

This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and damage to your Ford Mustang.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Comprehensive coverages

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like a tree branch falling on your vehicle, theft, hail damage, damage from getting keyed and damage from flooding. The most a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

More effort can pay off

When trying to cut insurance costs, make sure you don’t buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed physical damage coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to buy enough coverage at the lowest possible cost but still have enough coverage for asset protection.

Drivers switch companies for any number of reasons including denial of a claim, delays in paying claims, an unsatisfactory settlement offer or extreme rates for teen drivers. Regardless of your reason for switching companies, choosing a new company is easier than you think.

In this article, we covered quite a bit of information on how to shop for 2018 Ford Mustang insurance online. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Drivers may discover the lowest prices come from some of the lesser-known companies.

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