2008 Ford Mustang Insurance Cost – 9 Tips for Best Prices

Shoppers have lots of choices when shopping for the best price on Ford Mustang insurance. They can either spend hours contacting agents trying to get quotes or save time using the internet to compare rates.

There is a better way to find auto insurance online and we’ll show you the quickest way to quote coverages on a Ford and locate the lowest price from local insurance agents and online providers.

Nine discounts for affordable auto insurance rates

Some providers don’t always list all possible discounts in a way that’s easy to find, so the following is a list of both the well known in addition to some of the lesser obvious credits available to you. If you check and find you aren’t receiving every discount possible, you are not getting the best rate possible.

• Sign Online – Some auto insurance companies will provide an incentive for signing up digitally online.
• Low Mileage Discounts – Maintaining low annual mileage could be rewarded with slightly better rates than normal.
• Membership in Organizations – Joining a professional or civic organization is a good way to get lower rates on your bill.
• Pay Now and Pay Less – If you can afford to pay the entire bill instead of monthly or quarterly installments you could save 5% or more.
• Switch and Save Discount – A few larger companies give discounts for switching policies prior to the expiration date on your current policy. It could save around 10% when you buy insurance online.
• Driver’s Education for Students – Cut your cost by having your teen driver take driver’s ed class in school.
• Anti-lock Brake Discount – Cars with ABS braking systems or traction control can avoid accidents and earn discounts up to 10%.
• No Accidents – Good drivers with no accidents pay much less as opposed to frequent claim filers.
• Home Ownership Discount – Owning a home can earn you a little savings because it demonstrates responsibility.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. Just because you may think adding up those discounts means a free policy, companies wouldn’t make money that way.

A few companies that have some of the above discounts possibly include:

• State Farm
• Geico
• Allstate
• SAFECO
• Farm Bureau
• Progressive
• AAA

When getting a coverage quote, ask every company the best way to save money. Savings may not apply to policies in your area. To locate providers that offer discounts, click here to view.

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Tailor your insurance coverage coverage to you

When buying the best insurance coverage coverage, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs.

For instance, these questions can aid in determining if your insurance needs would benefit from an agent’s advice.

• Is business property covered if stolen from my car?
• Do I need roadside assistance coverage?
• Do I need medical payments coverage since I have good health insurance?
• What is the difference between comprehensive and collision coverage?
• Is rental equipment covered for theft or damage?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• Do I need replacement cost coverage?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, doesn’t cost anything and can help protect your family.

Ads can be misleading

Drivers can’t get away from ads that promise big savings by companies like Allstate and Progressive. All the ads try to convey promises of big savings just by moving your auto insurance policy to them.

How does each company say the same thing? It’s all in the wording.

All companies quote their best rates for the driver that will not have excessive claims. An example of a profitable risk profile should be a female over age 40, insures multiple vehicles, and drives newer vehicles. A propective insured who matches that profile will get low car insurance rates and is almost guaranteed to cut their rates substantially.

Potential customers who fall outside the ideal profile may receive a more expensive rate with the end result being the prospect going elsewhere. If you listen closely, the ads state “people who switch” but not “all drivers who get quotes” save that much when switching. That’s the way companies can make the claims of big savings.

Different companies use different criteria so drivers must do a price quote comparison at every renewal. It’s impossible to know which auto insurance company will give you lower rates than your current company.

Car insurance 101

Learning about specific coverages of your auto insurance policy aids in choosing the right coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement.

Comprehensive insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like damage from getting keyed, hitting a deer and vandalism. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Auto liability insurance

This protects you from damage that occurs to a person or their property that is your fault. It protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery. Some companies may use one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage pays for things like loss of income, repair bills for other people’s vehicles and medical services. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as much as you can afford.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as X-ray expenses, hospital visits and EMT expenses. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision coverage protection

This will pay to fix damage to your Mustang from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as scraping a guard rail, damaging your car on a curb and crashing into a building. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

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A penny earned…

In this article, we covered a lot of ways to reduce 2008 Ford Mustang insurance rates online. The key concept to understand is the more times you quote, the better chance you’ll have of finding the cheapest insurance. You may be surprised to find that the lowest rates are with a smaller regional carrier.

Budget-friendly insurance coverage is attainable from both online companies as well as from insurance agents, and you should compare rates from both in order to have the best chance of saving money. Some companies may not offer price quotes online and most of the time these small, regional companies work with independent agents.

People leave their current company for any number of reasons including extreme rates for teen drivers, an unsatisfactory settlement offer, delays in responding to claim requests or unfair underwriting practices. It doesn’t matter what your reason, switching companies is not as difficult as it may seem.

Helpful articles

• How to Avoid Buying a Flooded Car (Insurance Information Insitute)
• Safe Vehicles for Teens (iihs.org)
• What to do at the Scene of an Accident (Insurance Information Insitute)
• Understanding Limits and Deductibles (Allstate)
• Insurance Losses by Make and Model (iihs.org)

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