Lower Your 1998 Ford Mustang SVT Cobra Insurance Quotes

Trying to find the cheapest insurance rates for your Ford Mustang SVT Cobra? Have you had enough of paying out the nose to buy car insurance? You are in the same boat as millions of other consumers.

Big-name insurance companies like Allstate and Progressive continually hit you with fancy advertisements and it can be hard to ignore the flying pigs and cute green geckos and find the best price available.

It’s a great practice to get comparison quotes once or twice a year since rates are usually higher with each renewal. Just because you found the lowest price for Mustang SVT Cobra coverage a few years ago other companies may now be cheaper. So forget all the misinformation about insurance because you’re going to get a crash course in the fastest and easiest way to properly buy coverages and cut your premium.

If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using this strategy. Choosing the best insurance company for you is not that difficult. Nevertheless, vehicle owners need to learn how big insurance companies determine prices because it can help you find the best coverage.

Take discounts and save

Companies that sell car insurance don’t necessarily list every discount in an easy-to-find place, so here is a list both the well known as well as the least known discounts you could be receiving.

  • Early Switch Discount – A few companies offer discounts for switching policies before your current expiration date. It’s a savings of about 10%.
  • Anti-theft System – Anti-theft and alarm systems can help prevent theft and qualify for as much as a 10% discount.
  • Homeowners Discount – Being a homeowner can save you money because owning a home shows financial diligence.
  • Distant Student – Youth drivers who attend school more than 100 miles from home without a vehicle on campus can receive lower rates.
  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on the same insurance policy can get a discount on all vehicles.
  • Good Student Discount – This discount can save 20 to 25%. The good student discount can last until age 25.
  • Auto/Home Discount – When you combine your home and auto insurance with one insurance company you may save 10% to 20% off each policy.
  • Passive Restraint Discount – Factory air bags or motorized seat belts can get savings of 20% or more.
  • Save with a New Car – Buying coverage on a new vehicle can save up to 30% because new vehicles have to meet stringent safety requirements.

Drivers should understand that many deductions do not apply to your bottom line cost. Most only reduce individual premiums such as liability and collision coverage. So even though it sounds like it’s possible to get free car insurance, you won’t be that lucky.

For a list of providers who offer insurance discounts, click here.

Why your Ford Mustang SVT Cobra might be costing you more

It’s important that you understand the different types of things that go into determining the price you pay for insurance. When you know what positively or negatively impacts premium levels enables informed choices that will entitle you to big savings.

Listed below are a partial list of the pieces insurance companies consider when setting prices.

  • Do you know you’re credit rating? – Your credit score is a large factor in determining what you pay for insurance. If your credit history is lower than you’d like, you could save money insuring your 1998 Ford Mustang SVT Cobra by spending a little time repairing your credit. Consumers who have excellent credit tend to be less risk to insure than drivers who have poor credit.
  • Your age impacts your rates – More mature drivers are viewed as being more responsible, statistically cause fewer accidents and receive fewer citations. Teen drivers have a tendency to get distracted easily when driving therefore insurance rates are much higher.
  • Safe vehicles cost less to insure – Vehicles with good safety scores get lower rates. Safer cars reduce injuries and any reduction in injury severity translates into savings for insurance companies and more competitive rates for policyholders. If your Ford Mustang SVT Cobra has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
  • Don’t skimp on liability – Your policy’s liability coverage provides coverage in the event that you are found liable for causing damage or personal injury in an accident. It provides you with a defense in court up to the limits shown on your policy. Liability is cheap as compared to coverage for physical damage, so do not skimp.
  • Bundling policies can get discounts – The majority of insurance companies will give a discount to policyholders who have multiple policies with them, otherwise known as a multi-policy discount. Even with this discount, it’s in your best interest to comparison shop to make sure you are getting the best deal. Consumers may find better rates by splitting coverages up.

Which policy gives me the best coverage?

When it comes to choosing coverage for your personal vehicles, there really is no cookie cutter policy. Everyone’s needs are different and your policy should reflect that. For example, these questions could help you determine if your situation could use an agent’s help.

  • What is the difference between comprehensive and collision coverage?
  • Does having multiple vehicles earn me a discount?
  • Can my teen driver be rated on a liability-only vehicle?
  • Should I buy more coverage than the required minimum liability coverage?
  • Is my nanny covered when driving my vehicle?
  • Where can I get insurance after a DUI in my state?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier

Auto insurance ads bend the truth

21st Century, Allstate and State Farm constantly bombard you with television and radio advertisements. All the companies say the same thing about savings if you switch to them. But how can every company say the same thing? This is how they do it.

Different companies have a certain “appetite” for the type of driver that makes them money. For example, a preferred risk could be between the ages of 40 and 55, has no driving citations, and has a short commute. Any driver who meets those qualifications will get the preferred rates and most likely will save when switching.

Consumers who do not match this ideal profile will be quoted higher rates and ends up with the driver buying from a lower-cost company. The ads say “customers who switch” but not “drivers who get quotes” save that much. That is how companies can truthfully make the claims of big savings. This emphasizes why you need to get a wide range of price quotes. It’s not possible to predict which insurance companies will have the lowest Ford Mustang SVT Cobra insurance rates.

Car insurance coverages for a Ford Mustang SVT Cobra

Having a good grasp of your insurance policy can help you determine the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types offered by insurance companies.

Coverage for medical expenses

Med pay and PIP coverage reimburse you for expenses for dental work, X-ray expenses and surgery. They are often used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Liability auto insurance

This will cover damage that occurs to other people or property that is your fault. It protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things like pain and suffering, repair bills for other people’s vehicles, medical expenses, attorney fees and legal defense fees. 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.

Coverage for collisions

Collision insurance covers damage to your Mustang SVT Cobra resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things like scraping a guard rail, crashing into a ditch and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also choose a higher deductible to bring the cost down.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Ford Mustang SVT Cobra.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Comprehensive insurance

This coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like theft, hitting a bird, fire damage and falling objects. The most you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

A little work can save a LOT of money

Low-cost 1998 Ford Mustang SVT Cobra insurance can be purchased from both online companies and also from your neighborhood agents, and you need to comparison shop both to have the best chance of lowering rates. There are still a few companies who may not provide online price quotes and most of the time these smaller companies sell through independent agents.

We just presented some good ideas how to save on insurance. The most important thing to understand is the more rate quotes you have, the higher your chance of finding lower rates. You may even find the biggest savings come from some of the smallest insurance companies. Smaller companies may have significantly lower rates on certain market segments than the large multi-state companies such as State Farm or Progressive.

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