Cheaper 2003 Ford Mustang Car Insurance Rates

Finding affordable car insurance can seem to be challenging for consumers new to comparing rates online. Drivers have so many choices that it can quickly become a big hassle to find the best price.

If you currently have car insurance, you will most likely be able to cut costs considerably using these tips. Locating affordable protection can be fairly easy. But drivers must learn how big insurance companies compete online because it can help you find the best coverage.

Factors that can influence insurance rates for a Ford Mustang

An important part of buying insurance is that you know the factors that go into determining the price you pay for insurance coverage. Knowing what influences your rates empowers consumers to make smart changes that could result in big savings.

  • Occupation reflects on rates – Jobs such as judges, executives and stock brokers have the highest rates in part from high stress and long work hours. On the other hand, occupations such as pilots, students and retirees get better rates on Mustang insurance.
  • Safer cars are cheaper to insure – Safer cars are cheaper to insure. Safer cars reduce injuries and any reduction in injury severity means less money paid by your insurance company passed on to you as lower rates. If the Ford Mustang is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
  • Where you live can impact rates – Being located in less populated areas can be a good thing when insuring your vehicles. Fewer drivers means fewer accidents. Drivers who live in large cities regularly have much more traffic to deal with and a longer drive to work. Higher commute times can result in more accidents.
  • Bundling policies can get discounts – The majority of insurance companies provide better rates to customers who have multiple policies with them such as combining an auto and homeowners policy. This can amount to 10 percent or more. Even though this discount sounds good, it’s still a good idea to shop around to confirm you are receiving the best rates possible.
  • Traffic violations increase rates – Drivers with clean records receive lower rates than bad drivers. Only having one citation may increase your cost by as much as thirty percent. Drivers who get serious violations like hit and run, DWI or reckless driving convictions may be required to file a SR-22 to the state department of motor vehicles in order to continue driving.
  • Being married is a good thing – Getting married can get you a discount on your insurance coverage policy. Having a significant other means you’re more mature it has been statistically shown that drivers who are married are more cautious.
  • Small claims can cost you – If you tend to file frequent claims, you can expect higher rates. Companies provide better rates to policyholders who do not file claims often. Insurance coverage is intended for the bigger claims that can’t be paid out-of-pocket.

How to Compare Insurance Coverage Rates

All the larger insurance coverage companies such as State Farm, GEICO and Progressive give insurance quotes online. Getting quotes doesn’t take a lot of time as you just enter the amount of coverage you want as detailed in the form. After you submit the form their system will obtain credit information and your driving record and provides a quote based on these factors.

Being able to quote online makes comparing rates easy, but the time it takes to visit many different websites and complete many quote forms is not the best way to spend an afternoon. But it’s absolutely necessary to get many rate quotes in order to get the lowest insurance coverage rates.

The easy way to compare rates

A quicker way to lower your rates uses one simple form to return rates from several different companies. The form is fast, helps eliminate reptitive entry, and makes price shopping online much more enjoyable. Immediately after submitting the form, it is rated and you can select any of the resulting price quotes. If one or more price quotes are lower than your current rates, you can simply submit the application and buy the new coverage. This process can be completed in less than 10 minutes and you will know how your current rates stack up.

In order to find out how much you’re overpaying now, click here to open in new window and submit your coverage information. If you have coverage now, it’s recommended you complete the form with your coverages as close as possible to your current policy. This guarantees you will have rate comparison quotes using the same coverage and limits.

Is there truth in advertising?

Insurance companies such as State Farm, GEICO and Progressive continually stream ads on television and other media. They all seem to make an identical promise that you can save after switching to their company. How do they all make almost identical claims? This is how they do it.

All the different companies have a certain “appetite” for the type of customer that earns them a profit. An example of a driver they prefer could be between 30 and 50, a clean driving record, and has great credit. Any driver who fits that profile is entitled to the best price and most likely will save a lot of money.

Potential insureds who don’t measure up to these standards must pay higher rates and this can result in the driver buying from a lower-cost company. The ads say “drivers who switch” but not “drivers who get quotes” save that much money. That’s why insurance companies can make the claims of big savings. This illustrates why drivers must compare many company’s rates. Because you never know which insurance company will provide you with the cheapest Ford Mustang insurance rates.

Verify you’re getting all your discounts

Companies that sell car insurance don’t necessarily list all their discounts very clearly, so we break down some of the best known and the harder-to-find savings tricks you should be using.

  • Air Bag Discount – Vehicles equipped with air bags or automatic seat belts can get savings of up to 25% or more.
  • Paperwork-free – Some insurance companies give back up to $50 simply for signing digitally online.
  • Federal Employees – Being employed by or retired from a federal job can save as much as 8% on Mustang insurance depending on your company.
  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Ford could be rewarded with discounted rates on garaged vehicles.
  • College Student – Youth drivers who are attending college and don’t have a car may qualify for this discount.
  • Seat Belts Save – Drivers who require all occupants to use a seat belt can save 10% or more on the medical payments or PIP coverage costs.
  • Auto/Home Discount – If you insure your home and vehicles with the same insurance company you will save up to 20% off your total premium.
  • Good Student Discount – A discount for being a good student can earn a discount of 20% or more. Earning this discount can benefit you up to age 25.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.

A little note about advertised discounts, some credits don’t apply to the entire cost. The majority will only reduce specific coverage prices like liability and collision coverage. So despite the fact that it appears all the discounts add up to a free policy, companies don’t profit that way.

To see a list of insurance companies with the best insurance coverage discounts, follow this link.

When should I talk to an agent?

When it comes to choosing the right insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Each situation is unique.

For example, these questions might point out whether you would benefit from an agent’s advice.

  • Am I covered if my car is in a flood?
  • At what point should I drop full coverage?
  • When would I need additional glass coverage?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Do I need added coverage for expensive stereo equipment?
  • What are the best liability limits?
  • What is high-risk coverage and where do I buy it?
  • Do I have newly-aquired coverage?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form.

Coverage specifics

Understanding the coverages of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Car insurance terms can be difficult to understand and even agents have difficulty translating policy wording.

Liability coverage

Liability insurance provides protection from damage that occurs to a person or their property by causing an accident. It protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.

Liability insurance covers things like repair bills for other people’s vehicles, bail bonds, legal defense fees, court costs and medical services. How much liability coverage do you need? That is up to you, but you should buy as much as you can afford.

Comprehensive or Other Than Collision

This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things like falling objects, damage from flooding, hitting a bird and fire damage. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

UM/UIM Coverage

Your UM/UIM coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your 2003 Ford Mustang.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Auto collision coverage

This coverage pays to fix your vehicle from damage 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 things such as colliding with a tree, crashing into a building, hitting a parking meter, rolling your car and damaging your car on a curb. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for ambulance fees, surgery and pain medications. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Be a Smart Shopper

Cheap 2003 Ford Mustang insurance is attainable online and also from your neighborhood agents, so you should be comparing quotes from both to have the best chance of lowering rates. There are still a few companies who may not provide the ability to get a quote online and most of the time these smaller companies sell through independent agents.

People who switch companies do it for many reasons like delays in responding to claim requests, policy cancellation, being labeled a high risk driver or delays in paying claims. Regardless of your reason, choosing a new insurance company can be less work than you think.

We covered a lot of tips how to shop for insurance online. The key concept to understand is the more companies you get rates for, the better your comparison will be. You may even find the lowest priced insurance coverage comes from some of the lesser-known companies.

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